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   "value": "IntroductionThis chapter of the Annual Report contains the IFRS audited consolidated financial statements including the notes thereon, prepared in accordance with the International Financial Reporting Standards as adopted by the European Union. 1.1. Statement of compliance and basis of presentationThe consolidated financial statements of the Barco Group have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted for use by the EU. All standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) effec-tive year-end 2022 and adopted by the European Union are applied by Barco. The financial statements are also prepared on the basis of going concern.The consolidated financial statements are presented in thou-sands of euro and are prepared under the historical cost convention, except for the measurement at fair value of invest-ments, pension estimates and derivative financial instruments. 1.2. Principles of consolidationGeneralThe consolidated financial statements comprise the financial statements of the parent company, Barco NV (registered office: 35 President Kennedypark, 8500, Kortrijk, Belgium), and its controlled subsidiaries and joint ventures, after the elimination of all intercompany transactions.The financial statements were authorized for issue by the board of directors on 6 February 2023. The chairman has the power to amend the financial statements until the shareholders\u2019 meet-ing of 27 April 2023.Barco is a global technology company developing solutions for three main markets, which is also reflected in its divisional structure: Healthcare, Enterprise and Entertainment. NV Belgium Beneluxpark 218500 Kortrijk \u2013 BelgiumTel.: +32 (0)56 23 32 11President Kennedypark 358500 Kortrijk \u2013 BelgiumBeneluxpark 218500 Kortrijk \u2013 Belgium Barco NV",
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  "pp-value-4-3": {
   "value": "1.1. Statement of compliance and basis of presentationThe consolidated financial statements of the Barco Group have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted for use by the EU. All standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) effec-tive year-end 2022 and adopted by the European Union are applied by Barco. The financial statements are also prepared on the basis of going concern.",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
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  "pp-value-4-4": {
   "value": "1.1. Statement of compliance and basis of presentationThe consolidated financial statements of the Barco Group have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted for use by the EU. All standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) effec-tive year-end 2022 and adopted by the European Union are applied by Barco. The financial statements are also prepared on the basis of going concern.The consolidated financial statements are presented in thou-sands of euro and are prepared under the historical cost convention, except for the measurement at fair value of invest-ments, pension estimates and derivative financial instruments. The financial statements were authorized for issue by the board of directors on 6 February 2023. The chairman has the power to amend the financial statements until the shareholders\u2019 meet-ing of 27 April 2023.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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  },
  "pp-value-4-5": {
   "value": "1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. St<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>nce an<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is of p<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nTh<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n prep<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d in accord<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce with I<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span> Rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng St<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dards (<span class=\"_ _3\"></span>IFRS), as a<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>pted for us<span class=\"_ _3\"></span>e by th<span class=\"_ _3\"></span>e EU. All standards and<span class=\"_ _0\"></span> interpr<span class=\"_ _0\"></span>etations issued<span class=\"_ _0\"></span> by the Int<span class=\"_ _0\"></span>ernational<span class=\"_ _0\"></span> Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Sta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rds Bo<span class=\"_ _3\"></span>ard (I<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>SB) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Intern<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>al Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al Re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Inter<span class=\"_ _3\"></span>pret<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns Co<span class=\"_ _3\"></span>mmit<span class=\"_ _3\"></span>tee (<span class=\"_ _3\"></span>IFRI<span class=\"_ _3\"></span>C) ef<span class=\"_ _3\"></span>fec<span class=\"ls4 ws4\">-</span>tive ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d 2022 an<span class=\"_ _3\"></span>d ad<span class=\"_ _3\"></span>opte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Europe<span class=\"_ _3\"></span>an Un<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n are ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed by B<span class=\"_ _3\"></span>arco. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o pre<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>sis of g<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>g con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sa<span class=\"_ _3\"></span>nds of e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d are p<span class=\"_ _3\"></span>repa<span class=\"_ _3\"></span>red un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the h<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al cos<span class=\"_ _3\"></span>t conven<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, exce<span class=\"_ _3\"></span>pt for th<span class=\"_ _3\"></span>e me<span class=\"_ _3\"></span>asu<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of inve<span class=\"_ _3\"></span>st<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>s and d<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>tive f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. 1<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>. Princ<span class=\"_ _0\"></span>iples of c<span class=\"_ _0\"></span>onsolidationGeneralTh<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pare<span class=\"_ _3\"></span>nt com<span class=\"_ _3\"></span>pany, Barco NV (reg<span class=\"_ _3\"></span>istere<span class=\"_ _3\"></span>d of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce: 35 Presi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt Kenn<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>yp<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>, 850<span class=\"_ _3\"></span>0, Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rij<span class=\"_ _3\"></span>k, B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium), a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s contro<span class=\"_ _3\"></span>lled s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>ntures<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>lim<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of all<span class=\"_ _0\"></span> inter<span class=\"_ _0\"></span>company<span class=\"_ _0\"></span> transactions.SubsidiariesSub<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>dated f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e da<span class=\"_ _3\"></span>te the pa<span class=\"_ _3\"></span>rent obt<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s contro<span class=\"_ _3\"></span>l unti<span class=\"_ _3\"></span>l the d<span class=\"_ _3\"></span>ate contro<span class=\"_ _3\"></span>l ceases<span class=\"_ _3\"></span>. Acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of subs<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e pu<span class=\"_ _3\"></span>rchase m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g. Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s whe<span class=\"_ _3\"></span>n Ba<span class=\"_ _3\"></span>rco is exp<span class=\"_ _3\"></span>osed<span class=\"_ _3\"></span>, or h<span class=\"_ _3\"></span>as rig<span class=\"_ _3\"></span>ht<span class=\"_ _3\"></span>s, to va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>ble ret<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>s from it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>volve<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tee an<span class=\"_ _3\"></span>d has t<span class=\"_ _3\"></span>he ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to af<span class=\"_ _3\"></span>fect t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e retur<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h it<span class=\"_ _3\"></span>s powe<span class=\"_ _3\"></span>r over th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stee. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nts o<span class=\"_ _3\"></span>f subs<span class=\"_ _3\"></span>idia<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es are pre<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to the pa<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019s com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>sche<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>le, usi<span class=\"_ _3\"></span>ng co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent IFR<span class=\"_ _3\"></span>S accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Inv<span class=\"_ _0\"></span>estments in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>ed companies<span class=\"_ _0\"></span> and joint<span class=\"_ _0\"></span> ventu<span class=\"_ _0\"></span>resTh<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t in jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>ntures w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n it sh<span class=\"_ _3\"></span>ares joi<span class=\"_ _3\"></span>nt cont<span class=\"_ _3\"></span>rol wi<span class=\"_ _3\"></span>th oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>t has r<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ts to th<span class=\"_ _3\"></span>e net a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated companies<span class=\"_ _0\"></span> over which<span class=\"_ _0\"></span> the company<span class=\"_ _0\"></span> has significant in<span class=\"_ _0\"></span>fluence (ty<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lly th<span class=\"_ _3\"></span>ose t<span class=\"_ _3\"></span>hat are 20<span class=\"_ _1\"></span>-50% ow<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d) an<span class=\"_ _3\"></span>d jo<span class=\"_ _3\"></span>int ven<span class=\"_ _3\"></span>tures are accou<span class=\"_ _3\"></span>nted for u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of a<span class=\"_ _3\"></span>ccounti<span class=\"_ _3\"></span>ng an<span class=\"_ _3\"></span>d are in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>erea<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent is a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted to reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ize chang<span class=\"_ _3\"></span>es in th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup\u2019s sh<span class=\"_ _3\"></span>are of n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>oci<span class=\"_ _3\"></span>ate sin<span class=\"_ _3\"></span>ce the acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ate. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up\u2019s sh<span class=\"_ _3\"></span>are of th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ate, in \u2018othe<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>come<span class=\"_ _3\"></span>\u2019 for as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d joi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>res wi<span class=\"_ _3\"></span>th clos<span class=\"_ _3\"></span>ely re<span class=\"_ _3\"></span>lated b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e lin<span class=\"_ _3\"></span>e \u2018sh<span class=\"_ _3\"></span>are in the re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f joi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>res an<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ates\u2019 for al<span class=\"_ _3\"></span>l oth<span class=\"_ _3\"></span>er as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"ls4 ws4\">-</span>at<span class=\"_ _0\"></span>ed companies and<span class=\"_ _0\"></span> joint ven<span class=\"_ _0\"></span>tures. Inv<span class=\"_ _0\"></span>estments in associ<span class=\"_ _0\"></span>ated companies<span class=\"_ _0\"></span> and joint v<span class=\"_ _0\"></span>entures ar<span class=\"_ _0\"></span>e presen<span class=\"_ _0\"></span>ted as<span class=\"_ _0\"></span> non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curr<span class=\"_ _0\"></span>ent ass<span class=\"_ _3\"></span>et on t<span class=\"_ _3\"></span>he fa<span class=\"_ _3\"></span>ce of th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et on t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and int<span class=\"_ _0\"></span>erest in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>es\u2019<span class=\"_ _0\"></span>.2. GoodwillGo<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xcess of t<span class=\"_ _3\"></span>he cost o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on over th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f ide<span class=\"_ _3\"></span>ntif<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ble n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>nt lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s of a sub<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>r as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated com<span class=\"_ _3\"></span>pany at t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ate of acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n. Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll is ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ny accum<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ated im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent losses<span class=\"_ _3\"></span>.3. Research and development costsRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d as in<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>d, except fo<span class=\"_ _3\"></span>r deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich rel<span class=\"_ _3\"></span>ate to the d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn a<span class=\"_ _3\"></span>nd test<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>f new o<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>roved m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s or te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>og<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re cap<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>alized to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d that s<span class=\"_ _3\"></span>uch as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rate f<span class=\"_ _3\"></span>uture e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>cog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8 are m<span class=\"_ _3\"></span>et. S<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>ter life c<span class=\"_ _3\"></span>ycles<span class=\"_ _3\"></span>, unp<span class=\"_ _3\"></span>red<span class=\"_ _3\"></span>ict<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _1\"></span>y of whi<span class=\"_ _3\"></span>ch deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be su<span class=\"_ _3\"></span>c<span class=\"ls4 ws4\">-</span>cess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he vo<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s in which Bar<span class=\"_ _0\"></span>co<span class=\"_ _0\"></span> op<span class=\"_ _3\"></span>erat<span class=\"_ _0\"></span>es led the Boar<span class=\"_ _0\"></span>d of Dir<span class=\"_ _0\"></span>ectors t<span class=\"_ _0\"></span>o conc<span class=\"_ _0\"></span>lude tha<span class=\"_ _3\"></span>t Barco\u2019s deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s sin<span class=\"_ _3\"></span>ce 2015 n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r me<span class=\"_ _3\"></span>et the c<span class=\"_ _3\"></span>riter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e criter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>.57 a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lled<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses as o<span class=\"_ _3\"></span>f 2015 was n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s were a<span class=\"_ _3\"></span>utho<span class=\"_ _3\"></span>rized fo<span class=\"_ _3\"></span>r issu<span class=\"_ _3\"></span>e by th<span class=\"_ _3\"></span>e bo<span class=\"_ _3\"></span>ard of dire<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s on 6 Fe<span class=\"_ _3\"></span>br<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e chai<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>owe<span class=\"_ _3\"></span>r to<span class=\"_ _0\"></span> amend the financial<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ements until the<span class=\"_ _0\"></span> shareholders\u2019<span class=\"_ _0\"></span> meet<span class=\"ls4 ws4\">-</span>ing o<span class=\"_ _3\"></span>f 27 Ap<span class=\"_ _3\"></span>ril 2023<span class=\"_ _3\"></span>.Non-controllin<span class=\"_ _3\"></span>g interestsNo<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>control<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt the p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>nd n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s not h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d by the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p an<span class=\"_ _3\"></span>d are pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d sep<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ately in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d wi<span class=\"_ _3\"></span>thi<span class=\"_ _3\"></span>n equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he cons<span class=\"_ _0\"></span>olidated balanc<span class=\"_ _0\"></span>e sheet, separa<span class=\"_ _0\"></span>tely fr<span class=\"_ _0\"></span>om sharehol<span class=\"_ _0\"></span>der\u2019s e<span class=\"_ _3\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>y.4. Other intangible assetsInt<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired s<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>arate<span class=\"_ _3\"></span>ly are c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>.Int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a busi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss com<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized at fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y from g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll if th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue ca<span class=\"_ _3\"></span>n be m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured re<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>bly u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d are am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic lifet<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>n a st<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis n<span class=\"_ _3\"></span>ot excee<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 7 years.5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.7<span class=\"_ _2\"></span>. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re treated as f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e and a<span class=\"_ _3\"></span>re ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on given. Sub<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed at m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. For i<span class=\"_ _3\"></span>nvest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s quo<span class=\"_ _3\"></span>ted in an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>. For inv<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s not q<span class=\"_ _3\"></span>uote<span class=\"_ _3\"></span>d in an a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is t<span class=\"_ _3\"></span>he his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>cal cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, if a reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of the f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ot be m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e. An i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>hen t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng amount ex<span class=\"_ _0\"></span>ceeds t<span class=\"_ _0\"></span>he estimated<span class=\"_ _0\"></span> reco<span class=\"_ _0\"></span>verable amount. These<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re prese<span class=\"_ _3\"></span>nted o<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et on th<span class=\"_ _3\"></span>e li<span class=\"_ _3\"></span>ne \u2018Investments and<span class=\"_ _0\"></span> inter<span class=\"_ _0\"></span>est in associ<span class=\"_ _0\"></span>ates<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>.Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>t ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n in exces<span class=\"_ _3\"></span>s of 3 m<span class=\"_ _3\"></span>onth<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are inten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to be he<span class=\"_ _3\"></span>ld to matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y le<span class=\"_ _3\"></span>ss t<span class=\"_ _3\"></span>han o<span class=\"_ _3\"></span>ne ye<span class=\"_ _3\"></span>ar (so<span class=\"_ _3\"></span>lel<span class=\"_ _3\"></span>y paym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of pr<span class=\"_ _3\"></span>inci<span class=\"_ _3\"></span>ple an<span class=\"_ _3\"></span>d interes<span class=\"_ _3\"></span>t). T<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated reven<span class=\"_ _3\"></span>ue in i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t inco<span class=\"_ _3\"></span>me.8. Other non-current assetsOt<span class=\"_ _3\"></span>her n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>t ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m intere<span class=\"_ _3\"></span>st-<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng rec<span class=\"_ _0\"></span>eivables and cash<span class=\"_ _0\"></span> guarantees. S<span class=\"_ _0\"></span>uch long-term r<span class=\"_ _0\"></span>eceivables are accou<span class=\"_ _3\"></span>nted for a<span class=\"_ _3\"></span>s loa<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>ated by th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>nd are c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. A<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt exce<span class=\"_ _3\"></span>eds t<span class=\"_ _3\"></span>he es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated rec<span class=\"_ _0\"></span>overable amoun<span class=\"_ _0\"></span>t.9<span class=\"_ _0\"></span>. Financial assetsTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es it<span class=\"_ _3\"></span>s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>eg<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>es: fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds on t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>\u2019s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el for m<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>agi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l terms of t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. Ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>es the c<span class=\"_ _3\"></span>las<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>t init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Regular pur<span class=\"_ _0\"></span>chases and<span class=\"_ _0\"></span> sales of financ<span class=\"_ _0\"></span>ial assets ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>gniz<span class=\"_ _0\"></span>ed on th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e date \u2013 th<span class=\"_ _3\"></span>e date on w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p comm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to pu<span class=\"_ _3\"></span>rchase o<span class=\"_ _3\"></span>r sel<span class=\"_ _3\"></span>l an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>.At in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l recog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et at it<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>lus<span class=\"_ _3\"></span>, in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et not a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it or l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at are d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anc<span class=\"_ _3\"></span>ial as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (su<span class=\"_ _3\"></span>ch as lo<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d cash e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ts) are s<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>entl<span class=\"_ _3\"></span>y mea<span class=\"_ _3\"></span>sured a<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized<span class=\"_ _3\"></span> cost us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>y are he<span class=\"_ _3\"></span>ld for co<span class=\"_ _3\"></span>llec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>al ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt sol<span class=\"_ _3\"></span>ely p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>.T<span class=\"_ _2\"></span>rade and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _0\"></span> af<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span> and within one<span class=\"_ _0\"></span> year ar<span class=\"_ _0\"></span>e recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue an<span class=\"_ _3\"></span>d su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, i<span class=\"_ _3\"></span>.e. at t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>t pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces fo<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s on a for<span class=\"ls4 ws4\">-</span>ward<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>asis t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>oss as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. Fo<span class=\"_ _3\"></span>r tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he si<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lifi<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roach p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted by I<span class=\"_ _3\"></span>FRS 9 Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich req<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>s exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifeti<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s to be reco<span class=\"_ _3\"></span>gnized f<span class=\"_ _3\"></span>rom in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. 11. Revenue recognitionWe app<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-s<span class=\"_ _3\"></span>tep m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el to accou<span class=\"_ _3\"></span>nt for reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e ari<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g from co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>th cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Reven<span class=\"_ _3\"></span>ue is re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>d at an am<span class=\"_ _3\"></span>ount t<span class=\"_ _3\"></span>hat ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>nsid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n to whi<span class=\"_ _3\"></span>ch we exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to be en<span class=\"_ _3\"></span>title<span class=\"_ _3\"></span>d in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g go<span class=\"_ _3\"></span>ods o<span class=\"_ _3\"></span>r se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces to a cu<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.(a) Sale o<span class=\"_ _3\"></span>f goo<span class=\"_ _3\"></span>dsCont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt has o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y 1 pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>for<span class=\"ls4 ws4\">-</span>man<span class=\"_ _3\"></span>ce ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Reven<span class=\"_ _3\"></span>ue reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n occur<span class=\"_ _3\"></span>s at a p<span class=\"_ _3\"></span>oint i<span class=\"_ _3\"></span>n tim<span class=\"_ _3\"></span>e, wh<span class=\"_ _3\"></span>en con<span class=\"_ _3\"></span>trol of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red to th<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly on d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _1\"></span>y of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>ods<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng warranty options<span class=\"_ _0\"></span>: the Group<span class=\"_ _0\"></span> provides w<span class=\"_ _0\"></span>arranties for<span class=\"_ _0\"></span> general repairs<span class=\"_ _0\"></span> of which t<span class=\"_ _0\"></span>he Group det<span class=\"_ _0\"></span>ermined that suc<span class=\"_ _0\"></span>h warranties are<span class=\"_ _0\"></span> assurance-t<span class=\"_ _3\"></span>ype warranties whic<span class=\"_ _0\"></span>h are<span class=\"_ _0\"></span> account<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> under IA<span class=\"_ _3\"></span>S 37 P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, Con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt Lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d Con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt A<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.(b<span class=\"_ _0\"></span>) Rendering<span class=\"_ _0\"></span> of servicesTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>es se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices w<span class=\"_ _3\"></span>ithi<span class=\"_ _3\"></span>n all s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s are so<span class=\"_ _3\"></span>ld ei<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r on t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir own i<span class=\"_ _3\"></span>n contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s with t<span class=\"_ _3\"></span>he custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s or b<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>dle<span class=\"_ _3\"></span>d toget<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r wit<span class=\"_ _3\"></span>h the s<span class=\"_ _3\"></span>ale o<span class=\"_ _3\"></span>f equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t to a custom<span class=\"_ _3\"></span>er. The G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d service as s<span class=\"_ _0\"></span>eparate deliv<span class=\"_ _0\"></span>erables of bundled<span class=\"_ _0\"></span> sales and allocat<span class=\"_ _0\"></span>es consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ese d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>ver<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he rel<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d-<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>one s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pri<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ses se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice rev<span class=\"ls4 ws4\">-</span>en<span class=\"_ _3\"></span>ue by refere<span class=\"_ _3\"></span>nce to the s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f comp<span class=\"_ _3\"></span>leti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup recog<span class=\"_ _3\"></span>nis<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces over t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>at th<span class=\"_ _3\"></span>e custom<span class=\"_ _3\"></span>er sim<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sly rece<span class=\"_ _3\"></span>ives a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed by th<span class=\"_ _3\"></span>e Grou<span class=\"_ _3\"></span>p. Con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly, the G<span class=\"_ _3\"></span>roup re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>s reven<span class=\"_ _3\"></span>ue for th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s/ser<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of b<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>dle<span class=\"_ _3\"></span>d contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts ove<span class=\"_ _3\"></span>r ti<span class=\"_ _3\"></span>me ra<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an at a p<span class=\"_ _3\"></span>oint o<span class=\"_ _3\"></span>f tim<span class=\"_ _3\"></span>e.Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce is de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of the a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d is recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span> within<span class=\"_ _0\"></span> other operating inc<span class=\"_ _0\"></span>ome. (c) Pr<span class=\"_ _3\"></span>oj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tsFor reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e out of p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>leti<span class=\"_ _3\"></span>on met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d is use<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>utcome of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct c<span class=\"_ _3\"></span>an be assessed wi<span class=\"_ _0\"></span>th rea<span class=\"_ _0\"></span>sonable certainty.<span class=\"_ _0\"></span> These projects generally have a li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e of les<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.12. Government grantsGovernment<span class=\"_ _0\"></span> grants relat<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> resear<span class=\"_ _0\"></span>ch and dev<span class=\"_ _0\"></span>elopment proj<span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r forms o<span class=\"_ _3\"></span>f gover<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ssis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nce a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized as in<span class=\"_ _3\"></span>come u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n ir<span class=\"_ _3\"></span>revers<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ach<span class=\"_ _3\"></span>ieve<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d by referen<span class=\"_ _3\"></span>ce to the re<span class=\"_ _3\"></span>leva<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s incu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.13. T<span class=\"_ _18\"></span>rade debtors and other amounts receivableT<span class=\"_ _2\"></span>rade debtors<span class=\"_ _0\"></span> and other amounts r<span class=\"_ _0\"></span>eceivable ar<span class=\"_ _0\"></span>e shown<span class=\"_ _0\"></span> on the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce shee<span class=\"_ _3\"></span>t at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t (in ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l, th<span class=\"_ _3\"></span>e or<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>nal am<span class=\"_ _3\"></span>ount i<span class=\"_ _3\"></span>nvoi<span class=\"_ _3\"></span>ced) le<span class=\"_ _3\"></span>ss an a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts a<span class=\"_ _3\"></span>nd les<span class=\"_ _3\"></span>s an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt for ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted cre<span class=\"_ _3\"></span>dit lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>s recorde<span class=\"_ _3\"></span>d in o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en it is p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny wi<span class=\"_ _3\"></span>ll no<span class=\"_ _3\"></span>t be a<span class=\"_ _3\"></span>ble to col<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t all a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s due<span class=\"_ _3\"></span>. All<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re calcu<span class=\"_ _3\"></span>lated o<span class=\"_ _3\"></span>n an i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>is, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on an a<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. For th<span class=\"_ _3\"></span>e dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on of the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>imp<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch an<span class=\"_ _3\"></span>d records li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>.14<span class=\"_ _0\"></span>. Cash and cash equivalentsCas<span class=\"_ _3\"></span>h an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h eq<span class=\"_ _3\"></span>uiv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s consi<span class=\"_ _3\"></span>st of c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ba<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ances<span class=\"_ _0\"></span> with banks and s<span class=\"_ _0\"></span>hor<span class=\"_ _3\"></span>t-term<span class=\"_ _0\"></span> investments wi<span class=\"_ _0\"></span>th an original<span class=\"_ _0\"></span> matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>ate or no<span class=\"_ _3\"></span>tice p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths o<span class=\"_ _3\"></span>r les<span class=\"_ _3\"></span>s. It i<span class=\"_ _3\"></span>s the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y to hol<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s to mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y. All i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e cost at recog<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ate. 15. ProvisionsProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has a p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt leg<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r cons<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of a p<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t event<span class=\"_ _3\"></span>, it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble tha<span class=\"_ _3\"></span>t an ou<span class=\"_ _3\"></span>tf<span class=\"_ _3\"></span>low of re<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rces em<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>dy<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ts wil<span class=\"_ _3\"></span>l be re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>red to set<span class=\"_ _3\"></span>tle t<span class=\"_ _3\"></span>he ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a rel<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mate can b<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>de to t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>izes the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y to rep<span class=\"_ _3\"></span>air o<span class=\"_ _3\"></span>r repl<span class=\"_ _3\"></span>ace p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ill u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. Th<span class=\"_ _3\"></span>e prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce of the le<span class=\"_ _0\"></span>vel of r<span class=\"_ _0\"></span>epairs and r<span class=\"_ _0\"></span>eplacements.A provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng is o<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up ha<span class=\"_ _3\"></span>s app<span class=\"_ _3\"></span>roved a d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d and fo<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>as ei<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced or h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d to thos<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>fecte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e pla<span class=\"_ _3\"></span>n be<span class=\"_ _3\"></span>fore th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. On t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne item \u2018<span class=\"_ _3\"></span>Lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns\u2019, the comp<span class=\"_ _3\"></span>any p<span class=\"_ _3\"></span>res-ent<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>ng to th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>retirem<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t obligation<span class=\"_ _0\"></span>s which<span class=\"_ _0\"></span> includes the<span class=\"_ _0\"></span> Belgian de<span class=\"_ _0\"></span>fined<span class=\"_ _3\"></span>-contribu<span class=\"_ _0\"></span>tion pension plans<span class=\"_ _0\"></span> that ar<span class=\"_ _0\"></span>e by law<span class=\"_ _0\"></span> subject t<span class=\"_ _0\"></span>o minimum guarant<span class=\"_ _0\"></span>eed rates of ret<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>. Pen<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n leg<span class=\"_ _3\"></span>isl<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n was a<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2015 a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>inim<span class=\"_ _3\"></span>um g<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>antee<span class=\"_ _3\"></span>d rate of retu<span class=\"_ _3\"></span>rn as a va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>ercen<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge li<span class=\"_ _3\"></span>nked to g<span class=\"_ _3\"></span>over<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d yie<span class=\"_ _3\"></span>lds obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>rket as f<span class=\"_ _3\"></span>rom 1 Ja<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2016 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>. For 2022 th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>imu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed r<span class=\"_ _3\"></span>ate of retur<span class=\"_ _3\"></span>n rema<span class=\"_ _3\"></span>ins th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me as in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, i.e. 1<span class=\"_ _3\"></span>.75% on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. We refer to note 19 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n. A<span class=\"_ _3\"></span>s a cons<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce, th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ans have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accoun<span class=\"_ _3\"></span>ted for as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>.16. Equity \u2013 costs of an equity transaction Th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s of a<span class=\"_ _3\"></span>n eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for as a d<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n from e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, n<span class=\"_ _3\"></span>et of any re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax ben<span class=\"_ _3\"></span>efit<span class=\"_ _3\"></span>.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.18. T<span class=\"_ _18\"></span>rade and other payablesT<span class=\"_ _0\"></span>rad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h is th<span class=\"_ _3\"></span>e cost at reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>his is a<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue.19<span class=\"_ _0\"></span>. Employee benefitsEmp<span class=\"_ _3\"></span>loyee b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized as a<span class=\"_ _3\"></span>n exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up cons<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m ser<span class=\"_ _1\"></span>vice provi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d by an e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee i<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s,<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d as a lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y wh<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>n em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice in excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e for em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s to be p<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. Foreign currency ratesDecember 3<span class=\"_ _0\"></span>1, 2022<span class=\"_ _22\"> </span>Dec<span class=\"_ _0\"></span>ember 31, 2<span class=\"_ _0\"></span>021<span class=\"_ _1af\"> </span><span class=\"ls138 ws167\">De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 31, 2020</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cyClosing rate<span class=\"_ _df\"> </span><span class=\"lsda wsf7\">Average ra<span class=\"_ _0\"></span>te<span class=\"_ _17e\"> </span><span class=\"ls133 ws162\">Closin<span class=\"_ _3\"></span>g rate<span class=\"_ _df\"> </span></span>Aver<span class=\"_ _0\"></span>age rate<span class=\"_ _c4\"> </span><span class=\"ls133 ws162\">Clos<span class=\"_ _3\"></span>ing rate<span class=\"_ _df\"> </span></span>Average ra<span class=\"_ _0\"></span>te</span>CNY<span class=\"_ _19b\"> </span><span class=\"ls19c ws271\">7.<span class=\"_ _4\"> </span>3<span class=\"_ _3\"></span>6<span class=\"_ _b0\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _1b0\"> </span>7.<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>7.<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _de\"> </span><span class=\"ls138 ws167\">8<span class=\"_ _3\"></span>.02<span class=\"_ _e1\"> </span></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>8</span>INR<span class=\"_ _1b1\"> </span>88.17<span class=\"_ _11\"> </span>82.69<span class=\"_ _11\"> </span>84.<span class=\"_ _3\"></span>23<span class=\"_ _ad\"> </span>8<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _65\"> </span><span class=\"lsfc ws119\">8<span class=\"_ _3\"></span>9.66<span class=\"_ _73\"> </span><span class=\"lsef ws10c\">8<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>74</span></span>USD<span class=\"_ _d9\"> </span>1.<span class=\"_ _3\"></span>07<span class=\"_ _bc\"> </span>1.05<span class=\"_ _be\"> </span>1.13<span class=\"_ _b0\"> </span>1<span class=\"_ _3\"></span>.18<span class=\"_ _bc\"> </span><span class=\"ls3c ws48\">1.<span class=\"_ _3\"></span>23<span class=\"_ _be\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>14</span></span>20. T<span class=\"_ _18\"></span>ransactions in foreign currenciesT<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cies a<span class=\"_ _3\"></span>re record<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ate of tra<span class=\"_ _3\"></span>nsa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e mon<span class=\"_ _3\"></span>th b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. At t<span class=\"_ _3\"></span>he en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e account<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e uns<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tled b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces on fo<span class=\"_ _3\"></span>r<span class=\"ls4 ws4\">-</span>eig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s are va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e rates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he acco<span class=\"_ _3\"></span>unti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Forei<span class=\"_ _3\"></span>gn exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge g<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es are re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the<span class=\"_ _3\"></span>y aris<span class=\"_ _3\"></span>e.21. Foreign Group companiesIn th<span class=\"_ _3\"></span>e conso<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>dated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, all item<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nts o<span class=\"_ _3\"></span>f forei<span class=\"_ _3\"></span>gn su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>lated i<span class=\"_ _3\"></span>nto euro at t<span class=\"_ _3\"></span>he aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e rates fo<span class=\"_ _3\"></span>r the a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce sheets of<span class=\"_ _0\"></span> foreign g<span class=\"_ _0\"></span>roup c<span class=\"_ _0\"></span>ompanies are trans<span class=\"_ _0\"></span>lated in<span class=\"_ _0\"></span>to eur<span class=\"_ _0\"></span>o at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ing at t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>ing excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>re clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ied i<span class=\"_ _3\"></span>n a sep<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ate comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent of \u2018othe<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e\u2019<span class=\"_ _0\"></span>, u<span class=\"_ _3\"></span>ntil d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>l of th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. 22. Derivative financial instrumentsDerivative<span class=\"_ _0\"></span> financial instruments ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed initially<span class=\"_ _0\"></span> at c<span class=\"_ _0\"></span>ost, whi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>n (in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ase of an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>) or rece<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>d (in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y) fo<span class=\"_ _3\"></span>r it. S<span class=\"_ _3\"></span>ubs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>t to<span class=\"_ _0\"></span> initial r<span class=\"_ _0\"></span>ecognition, deriva<span class=\"_ _0\"></span>tive financial<span class=\"_ _0\"></span> instruments are<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ed at fai<span class=\"_ _0\"></span>r value.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>he fair<span class=\"_ _0\"></span> values of<span class=\"_ _0\"></span> derivativ<span class=\"_ _0\"></span>e int<span class=\"_ _0\"></span>erest c<span class=\"_ _0\"></span>ontracts are es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s usin<span class=\"_ _3\"></span>g cur<span class=\"_ _3\"></span>rent ma<span class=\"_ _3\"></span>rket in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d yi<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d cur<span class=\"_ _3\"></span>ve ove<span class=\"_ _3\"></span>r the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m of th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd exc<span class=\"_ _0\"></span>hange contracts is<span class=\"_ _0\"></span> estimated<span class=\"_ _0\"></span> using valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard p<span class=\"_ _3\"></span>rici<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ls at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance she<span class=\"_ _3\"></span>et date. Derivative<span class=\"_ _0\"></span> financial instruments t<span class=\"_ _0\"></span>hat are<span class=\"_ _0\"></span> either hedging instru<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re not d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ated or d<span class=\"_ _3\"></span>o not q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es are ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue w<span class=\"_ _3\"></span>ith cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the incom<span class=\"_ _3\"></span>e stateme<span class=\"_ _3\"></span>nt.Whe<span class=\"_ _3\"></span>re a de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t is de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>nated a<span class=\"_ _3\"></span>s a hed<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span> of th<span class=\"_ _3\"></span>e var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows of a reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed asse<span class=\"_ _3\"></span>t or lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, or a<span class=\"_ _0\"></span> highly pr<span class=\"_ _0\"></span>obable for<span class=\"_ _0\"></span>ecasted<span class=\"_ _0\"></span> transaction, the<span class=\"_ _0\"></span> effective<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>t of any g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r loss o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t is recog<span class=\"_ _3\"></span>nized di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tly in \u2018oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come\u2019 w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he ine<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fset a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt is repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t whe<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ere is a le<span class=\"_ _3\"></span>gal<span class=\"_ _3\"></span>ly enfo<span class=\"_ _3\"></span>rce<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ri<span class=\"_ _3\"></span>ght to of<span class=\"_ _3\"></span>fse<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n intent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to sett<span class=\"_ _3\"></span>le on a n<span class=\"_ _3\"></span>et ba<span class=\"_ _3\"></span>sis o<span class=\"_ _3\"></span>r realize th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d set<span class=\"_ _3\"></span>tle the liability simultan<span class=\"_ _3\"></span>eously<span class=\"_ _0\"></span>.23. Income taxesCurre<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>xes a<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d are ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>g to loc<span class=\"_ _3\"></span>al ta<span class=\"_ _3\"></span>x ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od, fo<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en the t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>asis of a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g val<span class=\"_ _3\"></span>ues for fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pu<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>ax r<span class=\"_ _3\"></span>ates use<span class=\"_ _3\"></span>d are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to ap<span class=\"_ _3\"></span>ply to th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is re<span class=\"_ _3\"></span>alized o<span class=\"_ _3\"></span>r the l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>ax ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x laws t<span class=\"_ _3\"></span>hat h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted or su<span class=\"_ _3\"></span>bst<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet da<span class=\"_ _3\"></span>te.Defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard of u<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, to the ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"ls4 ws4\">-</span>feren<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>, car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>ses can b<span class=\"_ _3\"></span>e ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>ets i<span class=\"_ _3\"></span>s revie<span class=\"_ _3\"></span>wed at e<span class=\"_ _3\"></span>ach b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate an<span class=\"_ _3\"></span>d redu<span class=\"_ _3\"></span>ced to the e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>t that i<span class=\"_ _3\"></span>t is no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e that s<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>x<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le prof<span class=\"_ _3\"></span>it wi<span class=\"_ _3\"></span>ll be a<span class=\"_ _3\"></span>vai<span class=\"_ _3\"></span>lab<span class=\"_ _3\"></span>le to al<span class=\"_ _3\"></span>low al<span class=\"_ _3\"></span>l or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set to b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized.Defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>ax lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et, if a l<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ally e<span class=\"_ _3\"></span>nforcea<span class=\"_ _3\"></span>ble r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to set of<span class=\"_ _3\"></span>f cur<span class=\"_ _3\"></span>rent t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st cur<span class=\"_ _3\"></span>rent i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>come t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>te to the sa<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e sam<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>axat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.25. Share-based paymentBarco created w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns for s<span class=\"_ _3\"></span>taf<span class=\"_ _3\"></span>f a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs as we<span class=\"_ _3\"></span>ll as for i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s who p<span class=\"_ _3\"></span>lay a<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>t role in t<span class=\"_ _3\"></span>he comp<span class=\"_ _3\"></span>any. Accordin<span class=\"_ _3\"></span>g to the p<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of I<span class=\"_ _3\"></span>FRS2, t<span class=\"_ _3\"></span>he cos<span class=\"_ _3\"></span>t of sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e statem<span class=\"_ _3\"></span>ent.Th<span class=\"_ _3\"></span>e wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at g<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>t date, bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>hare p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce at gra<span class=\"_ _3\"></span>nt date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d volatili<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, dividend estimat<span class=\"_ _0\"></span>es, and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>tes. W<span class=\"_ _0\"></span>arrant co<span class=\"_ _0\"></span>st is ta<span class=\"_ _3\"></span>ken into res<span class=\"_ _3\"></span>ult on a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e basis f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te unti<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of the v<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. 26. Earnings per shareTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup c<span class=\"_ _3\"></span>alcul<span class=\"_ _3\"></span>ates b<span class=\"_ _3\"></span>oth ba<span class=\"_ _3\"></span>sic a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>iluted e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs pe<span class=\"_ _3\"></span>r sh<span class=\"_ _3\"></span>are in accord<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce with I<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>S 33, Ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re. Un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r IA<span class=\"_ _3\"></span>S 33, bas<span class=\"_ _3\"></span>ic ea<span class=\"_ _3\"></span>rni<span class=\"_ _3\"></span>ngs p<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re are comp<span class=\"_ _3\"></span>uted u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the w<span class=\"_ _3\"></span>eig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of sh<span class=\"_ _3\"></span>ares o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Di<span class=\"_ _3\"></span>luted ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re are comp<span class=\"_ _3\"></span>uted u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the w<span class=\"_ _3\"></span>eig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of sh<span class=\"_ _3\"></span>ares o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d pl<span class=\"_ _3\"></span>us the d<span class=\"_ _3\"></span>ilu<span class=\"_ _3\"></span>tive ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>and<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s dilu<span class=\"_ _3\"></span>ted ear<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>ngs p<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>hare c<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>not b<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an ba<span class=\"_ _3\"></span>sic ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs p<span class=\"_ _3\"></span>er sh<span class=\"_ _3\"></span>are, di<span class=\"_ _3\"></span>luted e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re are kept e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to basi<span class=\"_ _3\"></span>c ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs p<span class=\"_ _3\"></span>er sh<span class=\"_ _3\"></span>are in c<span class=\"_ _3\"></span>ase of n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve net ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s.24<span class=\"_ _0\"></span>. Impairment of assetsGo<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll is revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent at le<span class=\"_ _3\"></span>ast a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual<span class=\"_ _3\"></span>ly. For othe<span class=\"_ _3\"></span>r ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets<span class=\"_ _3\"></span>, at ea<span class=\"_ _3\"></span>ch ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate, an as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent is m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e as to wh<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>er any i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s that a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ay be i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d. If a<span class=\"_ _3\"></span>ny such i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ed ou<span class=\"_ _3\"></span>t in ord<span class=\"_ _3\"></span>er to de<span class=\"_ _3\"></span>termi<span class=\"_ _3\"></span>ne if a<span class=\"_ _3\"></span>nd to wha<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>tent an im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>s nece<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y to red<span class=\"_ _3\"></span>uce th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set to its re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>unt (w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r of (i) va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e in use a<span class=\"_ _3\"></span>nd (i<span class=\"_ _3\"></span>i) fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue le<span class=\"_ _3\"></span>ss cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to sell<span class=\"_ _3\"></span>). The f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e les<span class=\"_ _3\"></span>s cost<span class=\"_ _3\"></span>s to sell i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s (i) th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (th<span class=\"_ _3\"></span>at is th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice th<span class=\"_ _3\"></span>at wou<span class=\"_ _3\"></span>ld b<span class=\"_ _3\"></span>e receiv<span class=\"_ _3\"></span>ed to se<span class=\"_ _3\"></span>ll an as<span class=\"_ _3\"></span>set i<span class=\"_ _3\"></span>n an o<span class=\"_ _3\"></span>rder<span class=\"_ _3\"></span>ly tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on in the p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ncip<span class=\"_ _3\"></span>al m<span class=\"_ _3\"></span>arket a<span class=\"_ _3\"></span>t the m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>urem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate und<span class=\"_ _3\"></span>er cu<span class=\"_ _3\"></span>rrent mar<span class=\"_ _3\"></span>ket con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s) less (i<span class=\"_ _3\"></span>i) th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l wh<span class=\"_ _3\"></span>ile va<span class=\"_ _3\"></span>lue i<span class=\"_ _3\"></span>n use is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d to be de<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>d from a<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set. Re<span class=\"_ _3\"></span>cover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted for ind<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>idu<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, if th<span class=\"_ _3\"></span>is is n<span class=\"_ _3\"></span>ot pos<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ble, fo<span class=\"_ _3\"></span>r the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it (CGU) to whi<span class=\"_ _3\"></span>ch the a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. An i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t loss i<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized wh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ever t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of an a<span class=\"_ _3\"></span>sset or it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit e<span class=\"_ _3\"></span>xceeds i<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. Rever<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l of im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized i<span class=\"_ _3\"></span>n pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ars i<span class=\"_ _3\"></span>s inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>here is a<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>at th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized for th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et are n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>d or th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es on goodwill, which<span class=\"_ _0\"></span> are nev<span class=\"_ _0\"></span>er rev<span class=\"_ _0\"></span>ersed.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>ir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d ho<span class=\"_ _3\"></span>w issu<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s coul<span class=\"_ _3\"></span>d be res<span class=\"_ _3\"></span>olve<span class=\"_ _3\"></span>d. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>is ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23.27<span class=\"_ _2\"></span>. Discontinued operations and non-current assets held for saleA disco<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>nue<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is a co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p that eit<span class=\"_ _3\"></span>her h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n disp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d of, or is cl<span class=\"_ _3\"></span>assi<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ed as h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d for sa<span class=\"_ _3\"></span>le an<span class=\"_ _3\"></span>d repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>s a se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rate ma<span class=\"_ _3\"></span>jor l<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>f bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>nd is p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of a sin<span class=\"_ _3\"></span>gle co<span class=\"_ _3\"></span>ordi<span class=\"_ _3\"></span>nated p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n to disp<span class=\"_ _3\"></span>ose o<span class=\"_ _3\"></span>f a sep<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>te majo<span class=\"_ _3\"></span>r lin<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s or is a su<span class=\"_ _3\"></span>bsi<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d exclus<span class=\"_ _3\"></span>ivel<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h a vie<span class=\"_ _3\"></span>w to resa<span class=\"_ _3\"></span>le.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es a n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>t (or dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sal g<span class=\"_ _3\"></span>roup) a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale if i<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt wil<span class=\"_ _3\"></span>l be re<span class=\"_ _3\"></span>covered p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>lly thro<span class=\"_ _3\"></span>ugh a s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>act<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n rat<span class=\"_ _3\"></span>her t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n thro<span class=\"_ _3\"></span>ugh co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ng us<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e crite<span class=\"_ _3\"></span>ria fo<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale cl<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>sifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is reg<span class=\"_ _3\"></span>arde<span class=\"_ _3\"></span>d as m<span class=\"_ _3\"></span>et on<span class=\"_ _3\"></span>ly wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>ale is h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hly p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset o<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span> grou<span class=\"_ _3\"></span>p is ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r imm<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>iate sa<span class=\"_ _3\"></span>le in i<span class=\"_ _3\"></span>ts p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>ust b<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted w<span class=\"_ _3\"></span>ithi<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n. P<span class=\"_ _3\"></span>rope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, plant an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s are n<span class=\"_ _3\"></span>ot de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated or am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>nce cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ed as h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d for sa<span class=\"_ _3\"></span>le.Imm<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>iatel<span class=\"_ _3\"></span>y befo<span class=\"_ _3\"></span>re clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n as h<span class=\"_ _3\"></span>eld fo<span class=\"_ _3\"></span>r sa<span class=\"_ _3\"></span>le, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set (o<span class=\"_ _3\"></span>r all t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al gro<span class=\"_ _3\"></span>up) in a<span class=\"_ _3\"></span>ccordan<span class=\"_ _3\"></span>ce with a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ca<span class=\"_ _3\"></span>ble I<span class=\"_ _3\"></span>FRS<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>, on in<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>al cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>, no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al g<span class=\"_ _3\"></span>roups a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized at t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>eir c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r valu<span class=\"_ _3\"></span>e le<span class=\"_ _3\"></span>ss cost<span class=\"_ _3\"></span>s to se<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>. Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ny init<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>l or su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt wri<span class=\"_ _3\"></span>te-<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>own of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set (or d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>l grou<span class=\"_ _3\"></span>p) to fair v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e les<span class=\"_ _3\"></span>s cost<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l.IFR<span class=\"_ _0\"></span>S<span class=\"_ _3\"></span> ac<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ing s<span class=\"_ _3\"></span>tandards adop<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>ed as o<span class=\"_ _0\"></span>f 2<span class=\"_ _0\"></span>022Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst-<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>e cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ards an<span class=\"_ _3\"></span>d amendments, which ar<span class=\"_ _0\"></span>e effective<span class=\"_ _0\"></span> for annual periods<span class=\"_ _0\"></span> beginning on o<span class=\"_ _3\"></span>r af<span class=\"_ _3\"></span>ter 1 Ja<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2022. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up ha<span class=\"_ _3\"></span>s not ea<span class=\"_ _3\"></span>rly a<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>pted any o<span class=\"_ _0\"></span>ther standard, int<span class=\"_ _0\"></span>erpretation<span class=\"_ _0\"></span> or amendment that<span class=\"_ _0\"></span> has been iss<span class=\"_ _3\"></span>ued b<span class=\"_ _3\"></span>ut is n<span class=\"_ _3\"></span>ot yet ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve.\u2022<span class=\"_ _0\"></span> <span class=\"_ _24\"> </span>Ame<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to IFR<span class=\"_ _3\"></span>S 3 Bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss Co<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s; IAS 16 Prope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d Equip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt; IA<span class=\"_ _3\"></span>S 3<span class=\"_ _3\"></span>7 Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, Cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent L<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d Cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s as we<span class=\"_ _3\"></span>ll as Annual Impr<span class=\"_ _0\"></span>ovements, effective<span class=\"_ _0\"></span> 1 Januar<span class=\"_ _3\"></span>y 2<span class=\"_ _0\"></span>022\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Am<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ent to IFRS 16 Lea<span class=\"_ _3\"></span>ses Cov<span class=\"_ _3\"></span>id 1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Rel<span class=\"_ _3\"></span>ated Re<span class=\"_ _3\"></span>nt Con<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd 3<span class=\"_ _3\"></span>0 Jun<span class=\"_ _3\"></span>e 2021 (ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 01<span class=\"_ _3\"></span>/04/2021<span class=\"_ _3\"></span>, with ear<span class=\"_ _3\"></span>ly app<span class=\"_ _3\"></span>licati<span class=\"_ _3\"></span>on pe<span class=\"_ _3\"></span>rmit<span class=\"_ _3\"></span>ted)No<span class=\"_ _3\"></span>ne of th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e IFRS s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rds is<span class=\"_ _3\"></span>sue<span class=\"_ _3\"></span>d have a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco\u2019s fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.IFR<span class=\"_ _0\"></span>S<span class=\"_ _3\"></span> ac<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ing s<span class=\"_ _3\"></span>tandards iss<span class=\"_ _0\"></span>ued bu<span class=\"_ _0\"></span>t not y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>t effect<span class=\"_ _0\"></span>ive a<span class=\"_ _0\"></span>s of 202<span class=\"_ _3\"></span>2Stan<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>rds i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ut not yet e<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>veTh<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>rds an<span class=\"_ _3\"></span>d interp<span class=\"_ _3\"></span>reta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at are is<span class=\"_ _3\"></span>sue<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ut no<span class=\"_ _3\"></span>t yet ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive, u<span class=\"_ _3\"></span>p to the da<span class=\"_ _3\"></span>te of issu<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce of the G<span class=\"_ _3\"></span>roup\u2019s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are di<span class=\"_ _3\"></span>sclos<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>elow. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>ntend<span class=\"_ _3\"></span>s to ado<span class=\"_ _3\"></span>pt these standard<span class=\"_ _0\"></span>s and int<span class=\"_ _0\"></span>erpretations,<span class=\"_ _0\"></span> if applicable, when<span class=\"_ _0\"></span> they become e<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fectiv<span class=\"_ _0\"></span>e.\u2022 <span class=\"_ _5e\"> </span>Ame<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IA<span class=\"_ _3\"></span>S 1 Prese<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial St<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d IFRS Pr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tice St<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt 2: Dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re of Account<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023\u2022 <span class=\"_ _141\"> </span>IFR<span class=\"_ _3\"></span>S 17 \u2018<span class=\"_ _3\"></span>Insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s\u2019<span class=\"_ _0\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 1 Jan<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2023\u2022 <span class=\"_ _24\"> </span>A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IA<span class=\"_ _3\"></span>S 8 Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d Error<span class=\"_ _3\"></span>s: Def<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of Accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g Estimat<span class=\"_ _0\"></span>es, effective 1<span class=\"_ _0\"></span> Januar<span class=\"_ _3\"></span>y 20<span class=\"_ _0\"></span>231\u2022 <span class=\"_ _5e\"> </span>A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IAS 1 \u2018<span class=\"_ _3\"></span>Pre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of F<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l State<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts: Clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of Li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>s curre<span class=\"_ _3\"></span>nt or n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019, effec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tive 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023\u2022 <span class=\"_ _5e\"> </span>Am<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IAS 1<span class=\"_ _3\"></span>2 I<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e T<span class=\"_ _0\"></span>axes: De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>x rel<span class=\"_ _3\"></span>ated to As<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d Li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>le T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive 1 J<span class=\"_ _3\"></span>anu<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y 202<span class=\"_ _3\"></span>3\u2022<span class=\"_ _0\"></span> <span class=\"_ _119\"> </span>A<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IFRS 17 In<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>act<span class=\"_ _3\"></span>s: Ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>l<span class=\"_ _0\"></span> Ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of IFRS 1<span class=\"_ _3\"></span>7 and I<span class=\"_ _3\"></span>FRS 9 \u2013 Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ive Info<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n (iss<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d on 9 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 1 Jan<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023 No<span class=\"_ _3\"></span>ne of th<span class=\"_ _3\"></span>e IFR<span class=\"_ _3\"></span>S st<span class=\"_ _3\"></span>and<span class=\"_ _3\"></span>ards is<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>ed, b<span class=\"_ _3\"></span>ut n<span class=\"_ _3\"></span>ot yet ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to have a m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on B<span class=\"_ _3\"></span>arco\u2019s fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.(1<span class=\"_ _3\"></span>) <span class=\"_ _8\"> </span>N<span class=\"_ _3\"></span>ot yet e<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>he Eu<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>n Un<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n as a<span class=\"_ _3\"></span>t 31 De<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>22.C<span class=\"_ _0\"></span>rit<span class=\"_ _0\"></span>ical ac<span class=\"_ _2\"></span>co<span class=\"_ _0\"></span>unt<span class=\"_ _0\"></span>ing j<span class=\"_ _0\"></span>udgmen<span class=\"_ _0\"></span>ts and k<span class=\"_ _0\"></span>ey s<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>es of es<span class=\"_ _0\"></span>tim<span class=\"_ _0\"></span>at<span class=\"_ _0\"></span>ion unc<span class=\"_ _2\"></span>er<span class=\"_ _3\"></span>tain<span class=\"_ _0\"></span>tyGeneral business risksOve<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020 th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c cond<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 Bar<span class=\"_ _0\"></span>co i<span class=\"_ _0\"></span>ncluded.We refer to the ch<span class=\"_ _3\"></span>apter \u2018<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s\u2019 (see Corporat<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> Gove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce &amp; Risk rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e 29<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>43<span class=\"fc0\">) fo<span class=\"_ _3\"></span>r an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e </span>risk<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f the B<span class=\"_ _3\"></span>arco Gro<span class=\"_ _3\"></span>up. \u2022  <span class=\"_ _8\"> </span>T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s: as prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>usl<span class=\"_ _3\"></span>y discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d, Ba<span class=\"_ _3\"></span>rco is not i<span class=\"_ _3\"></span>mmu<span class=\"_ _3\"></span>ne to com<span class=\"_ _3\"></span>po-ne<span class=\"_ _3\"></span>nt sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch have impact<span class=\"_ _0\"></span>ed and c<span class=\"_ _0\"></span>ontinue t<span class=\"_ _0\"></span>o impact c<span class=\"_ _0\"></span>ertain product<span class=\"_ _0\"></span> lines. Th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>late to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>live<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es of comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _24\"> </span>Hi<span class=\"_ _3\"></span>gh inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in mos<span class=\"_ _3\"></span>t ge<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>phi<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rel<span class=\"_ _3\"></span>ated to sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, energy and<span class=\"_ _0\"></span> component c<span class=\"_ _0\"></span>ost<span class=\"_ _3\"></span>s.\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Remaining pandemic-r<span class=\"_ _0\"></span>elated effects in<span class=\"_ _0\"></span> China. Sev<span class=\"_ _0\"></span>eral lockd<span class=\"_ _3\"></span>own<span class=\"_ _3\"></span>s lead to lo<span class=\"_ _3\"></span>wer p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he Chin<span class=\"_ _3\"></span>a regi<span class=\"_ _3\"></span>on (m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly bu<span class=\"_ _3\"></span>t not l<span class=\"_ _3\"></span>imite<span class=\"_ _3\"></span>d to the Ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>in<span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>s).\u2022 <span class=\"_ _141\"> </span>Scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y of<span class=\"_ _0\"></span> human resour<span class=\"_ _0\"></span>ces and<span class=\"_ _0\"></span> talent.A<span class=\"_ _3\"></span>s Russ<span class=\"_ _3\"></span>ia's inva<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n of Ukr<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns towa<span class=\"_ _3\"></span>rds Rus<span class=\"_ _3\"></span>sia have a li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco's busi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s over<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>, con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly the<span class=\"_ _3\"></span>re is no s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>nt ris<span class=\"_ _3\"></span>k. Fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ore Ba<span class=\"_ _3\"></span>rco reviewe<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d that t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no mat<span class=\"_ _0\"></span>erial impact.ApproachIn th<span class=\"_ _3\"></span>is se<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, Barco ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s its r<span class=\"_ _3\"></span>isk m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>lan re<span class=\"_ _3\"></span>lated<span class=\"_ _3\"></span> to the m<span class=\"_ _3\"></span>ain 202<span class=\"_ _3\"></span>2 macro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Op<span class=\"_ _3\"></span>erat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d supp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ainTh<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>wid<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es in d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t comm<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>1 and 20<span class=\"_ _0\"></span>22, test<span class=\"_ _0\"></span>ed Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> supply chain<span class=\"_ _0\"></span> resilience<span class=\"_ _0\"></span>. Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> stro<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>ps an<span class=\"_ _3\"></span>d agi<span class=\"_ _3\"></span>le ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch have p<span class=\"_ _3\"></span>roven to be key to fi<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the s<span class=\"_ _3\"></span>hor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n man<span class=\"_ _3\"></span>y case<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Neve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, Barco is n<span class=\"_ _3\"></span>ot imm<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>e to comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n const<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich have i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>acte<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nue to i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e team has l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gated th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t was fe<span class=\"_ _3\"></span>lt in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rat<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lled o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco expe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced a de<span class=\"_ _3\"></span>lay in sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e year of a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut 40 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily in En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent fo<span class=\"_ _3\"></span>r proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tor-l<span class=\"_ _3\"></span>ine d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. B<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the t<span class=\"_ _3\"></span>hird q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter thi<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>lay d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>ed to 20 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro w<span class=\"_ _3\"></span>ith f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mprove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt toward<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar<span class=\"_ _0\"></span>.Barco ha<span class=\"_ _3\"></span>s ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se cha<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s by inten<span class=\"_ _3\"></span>se coll<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on with al<span class=\"_ _0\"></span>l suppliers and the<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span>volvement o<span class=\"_ _0\"></span>f brok<span class=\"_ _0\"></span>ers for the s<span class=\"_ _3\"></span>ourci<span class=\"_ _3\"></span>ng of cri<span class=\"_ _3\"></span>tic<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>re, the re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sign<span class=\"_ _3\"></span> of pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l con<span class=\"_ _0\"></span>tinue to<span class=\"_ _0\"></span> be. For<span class=\"_ _0\"></span> certain componen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> subassemblies, inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>een te<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ora<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y increa<span class=\"_ _3\"></span>sed to lo<span class=\"_ _3\"></span>wer th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. Cop<span class=\"_ _3\"></span>ing wi<span class=\"_ _3\"></span>th inf<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>h com<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y pri<span class=\"_ _3\"></span>cesTh<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>math o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n geo<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>olit<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n have l<span class=\"_ _3\"></span>ed to hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d a stee<span class=\"_ _3\"></span>p increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A a<span class=\"_ _3\"></span>nd A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco ha<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>ly low ex<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>nal d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed inte<span class=\"_ _3\"></span>rest rates o<span class=\"_ _3\"></span>n 2022 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s is li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d. Th<span class=\"_ _3\"></span>e ris<span class=\"_ _3\"></span>ks d<span class=\"_ _3\"></span>escr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n this c<span class=\"_ _3\"></span>hap<span class=\"_ _3\"></span>ter are no<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>ks f<span class=\"_ _3\"></span>acin<span class=\"_ _3\"></span>g the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any. Addi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l risk<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inti<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot cur<span class=\"_ _3\"></span>rently kno<span class=\"_ _3\"></span>wn to the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any cur<span class=\"_ _3\"></span>rently d<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>ms to be im<span class=\"_ _3\"></span>mater<span class=\"_ _3\"></span>ial a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so may m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y ad<span class=\"_ _3\"></span>vers<span class=\"_ _3\"></span>ely a<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ness, financial<span class=\"_ _0\"></span> condition and/<span class=\"_ _2\"></span>or operating r<span class=\"_ _0\"></span>esults.In vi<span class=\"_ _3\"></span>ew of cli<span class=\"_ _3\"></span>mate rel<span class=\"_ _3\"></span>ated mat<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s busin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s is no<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by ex<span class=\"_ _3\"></span>trem<span class=\"_ _3\"></span>e weat<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns su<span class=\"_ _3\"></span>ch as drou<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s or f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>ds<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco is movi<span class=\"_ _3\"></span>ng towa<span class=\"_ _3\"></span>rds mo<span class=\"_ _3\"></span>re eco<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>fri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dly p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d we se<span class=\"_ _3\"></span>e that o<span class=\"_ _3\"></span>ur cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er\u2019s b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avio<span class=\"_ _3\"></span>ur a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd is ma<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me evo<span class=\"_ _3\"></span>luti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.De<span class=\"_ _3\"></span>ep di<span class=\"_ _3\"></span>ve on th<span class=\"_ _3\"></span>e 2022 co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>que<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>act of t<span class=\"_ _3\"></span>he macroeconomic environmentIn 2022, e<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>lly af<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter, the gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l covi<span class=\"_ _3\"></span>d-19 situ<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>ly, allow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns to be c<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>rie<span class=\"_ _3\"></span>d out i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>in an<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d for o<span class=\"_ _3\"></span>ur pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g in m<span class=\"_ _3\"></span>ost g<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>aph<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e mai<span class=\"_ _3\"></span>n except<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>s Chin<span class=\"_ _3\"></span>a, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re loc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>ed to af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct th<span class=\"_ _3\"></span>e bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d loc<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s thro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e ful<span class=\"_ _3\"></span>l year. In the a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ath of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>s a result o<span class=\"_ _3\"></span>f geo<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l even<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, 2022 pos<span class=\"_ _3\"></span>ed n<span class=\"_ _3\"></span>ew ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic ch<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Barco. T<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>s were:Th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd com<span class=\"_ _1\"></span><span class=\"ls4 ws4\">-</span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt sou<span class=\"_ _3\"></span>rcing<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>l the<span class=\"_ _3\"></span>se cost<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re be<span class=\"_ _3\"></span>ing cr<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>cal<span class=\"_ _3\"></span>ly revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imized o<span class=\"_ _3\"></span>n a cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt bas<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s were<span class=\"_ _3\"></span> passed<span class=\"_ _0\"></span> through w<span class=\"_ _0\"></span>ere poss<span class=\"_ _0\"></span>ible.Lif<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g of pa<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>mic m<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, with th<span class=\"_ _3\"></span>e except<span class=\"_ _3\"></span>ion of Ch<span class=\"_ _3\"></span>inaTh<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c covi<span class=\"_ _3\"></span>d-1<span class=\"_ _3\"></span>9 situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n has i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in mos<span class=\"_ _3\"></span>t regi<span class=\"_ _3\"></span>ons t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>out 202<span class=\"_ _3\"></span>2, esp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ciall<span class=\"_ _3\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>is has a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>ed to retur<span class=\"_ _3\"></span>n to nor<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span>ized op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. It al<span class=\"_ _3\"></span>so has f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ema<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r our p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, mos<span class=\"_ _3\"></span>t not<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he Ent<span class=\"_ _0\"></span>erprise and E<span class=\"_ _0\"></span>ntertainment divi<span class=\"_ _0\"></span>sions. In Chi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>, the co<span class=\"_ _3\"></span>urs<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c has fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d a dif<span class=\"ls4 ws4\">-</span>ferent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>, with q<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>cker recover<span class=\"_ _1\"></span>y in 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, but sti<span class=\"_ _3\"></span>ll si<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>fic<span class=\"_ _3\"></span>ant l<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns in 2022<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e busi<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ness operations<span class=\"_ _0\"></span> and the cust<span class=\"_ _0\"></span>omer demand. In our<span class=\"_ _0\"></span> Chinese loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hygie<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c safet<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures (s<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>l dis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g, venti<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, mas<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, ho<span class=\"_ _3\"></span>mew<span class=\"_ _3\"></span>ork p<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>s) have th<span class=\"_ _3\"></span>erefore b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut 2022. D<span class=\"_ _3\"></span>esp<span class=\"_ _3\"></span>ite all m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures p<span class=\"_ _3\"></span>ut in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, at tim<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he Chi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns h<span class=\"_ _3\"></span>ave run at l<span class=\"_ _3\"></span>ower c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>acit<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>.Retaining and attractin<span class=\"_ _3\"></span>g talentTh<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c has p<span class=\"_ _3\"></span>ut m<span class=\"_ _3\"></span>ore pre<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>re on th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>r market<span class=\"_ _0\"></span> in many<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphies, with<span class=\"_ _0\"></span> higher turnov<span class=\"_ _0\"></span>er of personnel see<span class=\"_ _3\"></span>n in m<span class=\"_ _3\"></span>any se<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco. Barco has i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> its hiring<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y and emplo<span class=\"_ _0\"></span>yer branding campaigns<span class=\"_ _0\"></span> to a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tract the r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ta<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce is a<span class=\"_ _3\"></span>n increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>age l<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or cos<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tl<span class=\"_ _3\"></span>y dri<span class=\"_ _3\"></span>ven by s<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. We have cross cha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lab<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>r cost in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on ou<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ere po<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ble to ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t thi<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed cos<span class=\"_ _3\"></span>t ba<span class=\"_ _3\"></span>se.Stron<span class=\"_ _3\"></span>g fun<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g and l<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ty s<span class=\"_ _3\"></span>truc<span class=\"_ _3\"></span>ture i<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>aceBarco ha<span class=\"_ _3\"></span>s a stro<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y. We refer to note 14 for more d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on B<span class=\"_ _3\"></span>arco\u2019s net ca<span class=\"_ _3\"></span>sh p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Barco ha<span class=\"_ _3\"></span>s suf<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>nt he<span class=\"_ _3\"></span>adro<span class=\"_ _3\"></span>om to en<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le it to confor<span class=\"_ _3\"></span>m to cov<span class=\"ls4 ws4\">-</span>ena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ex<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h all re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e loa<span class=\"_ _3\"></span>n covena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le credi<span class=\"_ _3\"></span>t facili<span class=\"_ _0\"></span>ties thr<span class=\"_ _0\"></span>oughout the<span class=\"_ _0\"></span> reporting period.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure may s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l bri<span class=\"_ _3\"></span>ng so<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s of he<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>d, Barco\u2019s st<span class=\"_ _3\"></span>rong f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>ure in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce sho<span class=\"_ _3\"></span>uld be m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an su<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fici<span class=\"_ _3\"></span>ent to en<span class=\"_ _3\"></span>sure th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g conce<span class=\"_ _3\"></span>rn of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any. In ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, we refer to note 8 w<span class=\"_ _3\"></span>here w<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n how we te<span class=\"_ _3\"></span>sted g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ll oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s for imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d con<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>ded n<span class=\"_ _3\"></span>o im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es ne<span class=\"_ _3\"></span>ed to b<span class=\"_ _3\"></span>erec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed.Key sour<span class=\"_ _3\"></span>ces of e<span class=\"_ _3\"></span>stim<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n unc<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>yUn<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s: The G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p revie<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>eir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osi-tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd in t<span class=\"_ _3\"></span>he t<span class=\"_ _3\"></span>ax f<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ngs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In a<span class=\"_ _3\"></span>ddit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ow iss<span class=\"_ _3\"></span>ues t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span><span class=\"ws4\">-</span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be re<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ved. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t, a D<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent th<span class=\"_ _3\"></span>at it is pr<span class=\"_ _0\"></span>obable that fut<span class=\"_ _0\"></span>ure taxable<span class=\"_ _0\"></span> profit will<span class=\"_ _0\"></span> be available against<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s can b<span class=\"_ _3\"></span>e utili<span class=\"_ _0\"></span>zed. In<span class=\"_ _0\"></span> making its judgment, management<span class=\"_ _0\"></span> considers<span class=\"_ _0\"></span> ele<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategy, inclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g tax p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>unit<span class=\"_ _3\"></span>ies (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 10 \u2018Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies\u2019<span class=\"_ _3\"></span>) a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l ta<span class=\"_ _3\"></span>x laws e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted at t<span class=\"_ _3\"></span>he rep<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span> da<span class=\"_ _3\"></span>te.defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23 (see<span class=\"_ _3\"></span> note 10 \u2018D<span class=\"_ _3\"></span>efe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s\u2019).<span class=\"_ _24\"> </span>Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll: th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y or mo<span class=\"_ _3\"></span>re freq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly if t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re are ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns t<span class=\"_ _3\"></span>hat go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll mi<span class=\"_ _3\"></span>ght b<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>red (se<span class=\"_ _3\"></span>e note 8 \u2019Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>\u2019<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter of 2022<span class=\"_ _3\"></span>, did n<span class=\"_ _3\"></span>ot res<span class=\"_ _3\"></span>ult in a<span class=\"_ _3\"></span>n impa<span class=\"_ _3\"></span>irme<span class=\"_ _3\"></span>nt loss.<span class=\"_ _141\"> </span>Wr<span class=\"_ _3\"></span>ite off<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s: Inventor<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er of cost o<span class=\"_ _3\"></span>r net rea<span class=\"_ _3\"></span>liz<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>an<span class=\"_ _3\"></span>ce for slow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovin<span class=\"_ _3\"></span>g inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent<span class=\"_ _3\"></span>ly ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>end o<span class=\"_ _3\"></span>n bo<span class=\"_ _3\"></span>th his<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l an<span class=\"_ _3\"></span>d fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d, of w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the l<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>ter is su<span class=\"_ _3\"></span>bje<span class=\"_ _3\"></span>ct to un<span class=\"_ _3\"></span>cer<span class=\"ls4 ws4\">-</span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y du<span class=\"_ _3\"></span>e to rap<span class=\"_ _3\"></span>id tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. On to<span class=\"_ _3\"></span>p of th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>re seve<span class=\"_ _3\"></span>re rul<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in c<span class=\"_ _3\"></span>ase of for exa<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to stop a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it or p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g invento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y on h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d is in th<span class=\"_ _3\"></span>at ca<span class=\"_ _3\"></span>se analyzed<span class=\"_ _0\"></span> and reserved as<span class=\"_ _0\"></span> appropriate<span class=\"_ _0\"></span>. Inven<span class=\"_ _0\"></span>tor<span class=\"_ _3\"></span>y allo<span class=\"_ _0\"></span>wances are on<span class=\"_ _3\"></span>ly rever<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ru<span class=\"_ _3\"></span>les n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ap<span class=\"_ _3\"></span>ply or th<span class=\"_ _3\"></span>e wr<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ten of<span class=\"_ _3\"></span>f inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s sol<span class=\"_ _3\"></span>d or scr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d (see n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>2 '<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>to<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>'<span class=\"_ _1\"></span>).<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. Acco<span class=\"_ _0\"></span>unting t<span class=\"_ _0\"></span>reatment<span class=\"_ _0\"></span> of dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesSh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ter li<span class=\"_ _3\"></span>fe cycle<span class=\"_ _3\"></span>s, u<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>redi<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch de<span class=\"_ _3\"></span>velo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e su<span class=\"_ _3\"></span>ccess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e vol<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es (mo<span class=\"_ _3\"></span>re an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt) a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tes led t<span class=\"_ _3\"></span>he B<span class=\"_ _3\"></span>oard of D<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s to conclu<span class=\"_ _3\"></span>de th<span class=\"_ _3\"></span>at Ba<span class=\"_ _3\"></span>rco\u2019s deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses d<span class=\"_ _3\"></span>o not m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. As<span class=\"_ _3\"></span> the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57 are n<span class=\"_ _3\"></span>ot fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d, o<span class=\"_ _3\"></span>ur accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cy, wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>s not all<span class=\"_ _3\"></span>ow the c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s. Defined benefit<span class=\"_ _0\"></span> obligationsTh<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an (se<span class=\"_ _3\"></span>e note 19) an<span class=\"_ _3\"></span>d the p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re deter<span class=\"ls4 ws4\">-</span>mined us<span class=\"_ _0\"></span>ing actuarial<span class=\"_ _0\"></span> valuations. An<span class=\"_ _0\"></span> actuarial valu<span class=\"_ _0\"></span>ation inv<span class=\"_ _0\"></span>olves making v<span class=\"_ _0\"></span>arious assump<span class=\"_ _0\"></span>tions that<span class=\"_ _0\"></span> may di<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fer fr<span class=\"_ _0\"></span>om actual<span class=\"_ _0\"></span> devel<span class=\"ls4 ws4\">-</span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion of the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate, f<span class=\"_ _3\"></span>uture s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rate<span class=\"_ _3\"></span>s and fut<span class=\"_ _3\"></span>ure pe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lexi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s invo<span class=\"_ _3\"></span>lved i<span class=\"_ _3\"></span>n the v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term n<span class=\"_ _3\"></span>ature, a d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is hig<span class=\"_ _3\"></span>hly s<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ve to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. All a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns are rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>ed on re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-5-5": {
   "value": "The consolidated financial statements of the Barco Group have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted for use by the EU. All standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) effec-tive year-end 2022 and adopted by the European Union are applied by Barco. The financial statements are also prepared on the basis of going concern.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-13-4": {
   "value": "The financial statements were authorized for issue by the board of directors on 6 February 2023. The chairman has the power to amend the financial statements until the shareholders\u2019 meet-ing of 27 April 2023.24. Events subsequent to the balance sheet dateThere are no major events subsequent to the balance sheet date which have a major impact on the further evolution of the company.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-13-5": {
   "value": "The financial statements were authorized for issue by the board of directors on 6 February 2023. The chairman has the power to amend the financial statements until the shareholders\u2019 meet-ing of 27 April 2023.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-7-3": {
   "value": "1.2. Principles of consolidationGeneralThe consolidated financial statements comprise the financial statements of the parent company, Barco NV (registered office: 35 President Kennedypark, 8500, Kortrijk, Belgium), and its controlled subsidiaries and joint ventures, after the elimination of all intercompany transactions.SubsidiariesSubsidiaries are consolidated from the date the parent obtains control until the date control ceases. Acquisitions of subsidiaries are accounted for using the purchase method of accounting. Control exists when Barco is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of subsidiaries are prepared according to the parent\u2019s company reporting  schedule, using consistent IFRS accounting policies.Investments in associated companies and joint venturesThe company has investment in joint ventures when it shares joint control with other investments, and it has rights to the net assets of these joint ventures. Investments in associated companies over which the company has significant influence (typically those that are 20-50% owned) and joint ventures are accounted for under the equity method of accounting and are initially recognized at cost. Thereafter the carrying amount of the investment is adjusted to recognize changes in the Group\u2019s share of net assets of the associate since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate, in \u2018other operating income\u2019 for associated companies and joint ventures with closely related business and in the line \u2018share in the result of joint ventures and associates\u2019 for all other associ-ated companies and joint ventures. Investments in associated companies and joint ventures are presented as non-current asset on the face of the balance sheet on the line \u2018investments and interest in associates\u2019.Non-controlling interestsNon-controlling interests represent the portion of profit or loss and net assets not held by the Group and are presented separately in the income statement and within equity in the consolidated balance sheet, separately from shareholder\u2019s equity.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-8-4": {
   "value": "SubsidiariesSubsidiaries are consolidated from the date the parent obtains control until the date control ceases. Acquisitions of subsidiaries are accounted for using the purchase method of accounting. Control exists when Barco is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of subsidiaries are prepared according to the parent\u2019s company reporting  schedule, using consistent IFRS accounting policies.Non-controlling interestsNon-controlling interests represent the portion of profit or loss and net assets not held by the Group and are presented separately in the income statement and within equity in the consolidated balance sheet, separately from shareholder\u2019s equity.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-14-5": {
   "value": "Non-controlling interestsNon-controlling interests represent the portion of profit or loss and net assets not held by the Group and are presented separately in the income statement and within equity in the consolidated balance sheet, separately from shareholder\u2019s equity.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-9-4": {
   "value": "Investments in associated companies and joint venturesThe company has investment in joint ventures when it shares joint control with other investments, and it has rights to the net assets of these joint ventures. Investments in associated companies over which the company has significant influence (typically those that are 20-50% owned) and joint ventures are accounted for under the equity method of accounting and are initially recognized at cost. Thereafter the carrying amount of the investment is adjusted to recognize changes in the Group\u2019s share of net assets of the associate since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate, in \u2018other operating income\u2019 for associated companies and joint ventures with closely related business and in the line \u2018share in the result of joint ventures and associates\u2019 for all other associ-ated companies and joint ventures. Investments in associated companies and joint ventures are presented as non-current asset on the face of the balance sheet on the line \u2018investments and interest in associates\u2019.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-9-5": {
   "value": "Investments in associated companies and joint venturesThe company has investment in joint ventures when it shares joint control with other investments, and it has rights to the net assets of these joint ventures. Investments in associated companies over which the company has significant influence (typically those that are 20-50% owned) and joint ventures are accounted for under the equity method of accounting and are initially recognized at cost. Thereafter the carrying amount of the investment is adjusted to recognize changes in the Group\u2019s share of net assets of the associate since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate, in \u2018other operating income\u2019 for associated companies and joint ventures with closely related business and in the line \u2018share in the result of joint ventures and associates\u2019 for all other associ-ated companies and joint ventures. Investments in associated companies and joint ventures are presented as non-current asset on the face of the balance sheet on the line \u2018investments and interest in associates\u2019.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-9-6": {
   "value": "Investments in associated companies and joint venturesThe company has investment in joint ventures when it shares joint control with other investments, and it has rights to the net assets of these joint ventures. Investments in associated companies over which the company has significant influence (typically those that are 20-50% owned) and joint ventures are accounted for under the equity method of accounting and are initially recognized at cost. Thereafter the carrying amount of the investment is adjusted to recognize changes in the Group\u2019s share of net assets of the associate since the acquisition date. The statement of profit or loss reflects the Group\u2019s share of the results of operations of the associate, in \u2018other operating income\u2019 for associated companies and joint ventures with closely related business and in the line \u2018share in the result of joint ventures and associates\u2019 for all other associ-ated companies and joint ventures. Investments in associated companies and joint ventures are presented as non-current asset on the face of the balance sheet on the line \u2018investments and interest in associates\u2019.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-3": {
   "value": "2. GoodwillGoodwill represents the excess of the cost of the acquisition over the fair value of identifiable net assets and contingent liabilities of a subsidiary or associated company at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses.4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-4": {
   "value": "2. GoodwillGoodwill represents the excess of the cost of the acquisition over the fair value of identifiable net assets and contingent liabilities of a subsidiary or associated company at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-5": {
   "value": "2. GoodwillGoodwill represents the excess of the cost of the acquisition over the fair value of identifiable net assets and contingent liabilities of a subsidiary or associated company at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses.4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-6": {
   "value": "2. GoodwillGoodwill represents the excess of the cost of the acquisition over the fair value of identifiable net assets and contingent liabilities of a subsidiary or associated company at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses.5. Property, plant and equipmentProperty, plant and equipment are stated at cost less accu-mulated depreciation and accumulated impairment losses. Generally, depreciation is computed on a straight-line basis over the estimated useful life of the asset. When there is an indication that the item of property, plant and equipment is impaired, the carrying amounts are reviewed to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount.Estimated useful life is:- buildings  20 years- installations  10 years-  production machinery   5 years-  measurement equipment  4 years-  tools and models  3 years- furniture  10 years-  office equipment  5 years-  computer equipment  3 years- vehicles  5 years-  demo material  1 to 3 years-  leasehold improvements and finance leases: cfr underlying asset, limited to outstanding period of lease contractA property, plant or equipment item is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recog-nition of the asset is included in profit or loss in the year the asset is derecognized.7. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInvestments are treated as financial assets at fair value through profit and loss or other comprehensive income and are initially recognized at cost, being the fair value of the consideration given. Subsequent fair value recognition through profit and loss or other comprehensive is determined at moment of initial recog-nition. For investments quoted in an active market, the quoted market price is the best measure of fair value. For investments not quoted in an active market, the carrying amount is the historical cost, if a reliable estimate of the fair value cannot be made. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount. These investments are presented on the balance sheet on the line \u2018Investments and interest in associates\u2019.8. Other non-current assetsOther non-current assets include long-term interest-bearing receivables and cash guarantees. Such long-term receivables are accounted for as loans and receivables originated by the company and are carried at amortized cost. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount.9. Financial assetsThe Group classifies its financial assets in the following cat-egories: financial assets at fair value and financial assets at amortized cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition.Regular purchases and sales of financial assets are recognized on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets (such as loans, trade and other receivables, cash and cash equivalents) are subsequently measured at amortized cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.Trade and other receivables after and within one year are recognized initially at fair value and subsequently measured at amortized cost, i.e. at the net present value of the receiv-able amount, using the effective interest rate method, less allowances for impairment. The Group assesses on a for-ward-looking basis the expected credit loss associated with its financial assets carried at amortized cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 Financial instruments, which requires expected lifetime losses to be recognized from initial recognition of the receivables.10. InventoriesInventories are stated at the lower of cost or net realiz-able value. Cost is determined on a first in first out (FIFO) or weighted average basis. Net realizable value is the esti-mated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs of completing the sale. In addition to the cost of materials and direct labor, the rel-evant proportion of production overhead is included in the inventory values.Write offs on inventories are applied on slow-moving inven-tory. The calculation of the allowance is based on consistently applied write off rules, which depend on both historical and future demand, of which the latter is subject to uncertainty due to rapid technological changes. The amount of the allowance is deducted from the carrying amount of the asset and is recognized in the income statement within other operating income. 13. Trade debtors and other amounts receivableTrade debtors and other amounts receivable are shown on the balance sheet at amortized cost (in general, the original amount invoiced) less an allowance for doubtful debts and less an amount for expected credit losses. The allowance for doubtful debts is recorded in operating income when it is prob-able that the company will not be able to collect all amounts due. Allowances are calculated on an individual basis, based on an aging analysis of the trade debtors. For the determination of the expected credit loss, the Group has applied the simplified approach and records lifetime expected losses on all trade receivables. This amount is determined on a portfolio basis.24. Impairment of assetsGoodwill is reviewed for impairment at least annually. For other tangible and intangible assets, at each balance sheet date, an assessment is made as to whether any indication exists that assets may be impaired. If any such indication exists, an impairment test is carried out in order to determine if and to what extent an impairment is necessary to reduce the asset to its recoverable amount (which is the higher of (i) value in use and (ii) fair value less costs to sell). The fair value less costs to sell is determined as (i) the fair value (that is the price that would be received to sell an asset in an orderly transaction in the principal market at the measurement date under current market conditions) less (ii) the costs to sell while value in use is the present value of the future cash flows expected to be derived from an asset. Recoverable amounts are estimated for individual assets or, if this is not possible, for the cash-gener-ating unit (CGU) to which the assets belong. An impairment loss is recognized whenever the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Reversal of impairment losses recognized in prior years is included as income when there is an indication that the impair-ment losses recognized for the asset are no longer needed or the need has decreased, except for impairment losses on goodwill, which are never reversed.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-7": {
   "value": "2. GoodwillGoodwill represents the excess of the cost of the acquisition over the fair value of identifiable net assets and contingent liabilities of a subsidiary or associated company at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses.5. Property, plant and equipmentProperty, plant and equipment are stated at cost less accu-mulated depreciation and accumulated impairment losses. Generally, depreciation is computed on a straight-line basis over the estimated useful life of the asset. When there is an indication that the item of property, plant and equipment is impaired, the carrying amounts are reviewed to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount.Estimated useful life is:- buildings  20 years- installations  10 years-  production machinery   5 years-  measurement equipment  4 years-  tools and models  3 years- furniture  10 years-  office equipment  5 years-  computer equipment  3 years- vehicles  5 years-  demo material  1 to 3 years-  leasehold improvements and finance leases: cfr underlying asset, limited to outstanding period of lease contractA property, plant or equipment item is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recog-nition of the asset is included in profit or loss in the year the asset is derecognized.10. InventoriesInventories are stated at the lower of cost or net realiz-able value. Cost is determined on a first in first out (FIFO) or weighted average basis. Net realizable value is the esti-mated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs of completing the sale. In addition to the cost of materials and direct labor, the rel-evant proportion of production overhead is included in the inventory values.Write offs on inventories are applied on slow-moving inven-tory. The calculation of the allowance is based on consistently applied write off rules, which depend on both historical and future demand, of which the latter is subject to uncertainty due to rapid technological changes. The amount of the allowance is deducted from the carrying amount of the asset and is recognized in the income statement within other operating income. 24. Impairment of assetsGoodwill is reviewed for impairment at least annually. For other tangible and intangible assets, at each balance sheet date, an assessment is made as to whether any indication exists that assets may be impaired. If any such indication exists, an impairment test is carried out in order to determine if and to what extent an impairment is necessary to reduce the asset to its recoverable amount (which is the higher of (i) value in use and (ii) fair value less costs to sell). The fair value less costs to sell is determined as (i) the fair value (that is the price that would be received to sell an asset in an orderly transaction in the principal market at the measurement date under current market conditions) less (ii) the costs to sell while value in use is the present value of the future cash flows expected to be derived from an asset. Recoverable amounts are estimated for individual assets or, if this is not possible, for the cash-gener-ating unit (CGU) to which the assets belong. An impairment loss is recognized whenever the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Reversal of impairment losses recognized in prior years is included as income when there is an indication that the impair-ment losses recognized for the asset are no longer needed or the need has decreased, except for impairment losses on goodwill, which are never reversed.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-12-3": {
   "value": "3. Research and development costsRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d as in<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>d, except fo<span class=\"_ _3\"></span>r deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich rel<span class=\"_ _3\"></span>ate to the d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn a<span class=\"_ _3\"></span>nd test<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>f new o<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>roved m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s or te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>og<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re cap<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>alized to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d that s<span class=\"_ _3\"></span>uch as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rate f<span class=\"_ _3\"></span>uture e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>cog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8 are m<span class=\"_ _3\"></span>et. S<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>ter life c<span class=\"_ _3\"></span>ycles<span class=\"_ _3\"></span>, unp<span class=\"_ _3\"></span>red<span class=\"_ _3\"></span>ict<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _1\"></span>y of whi<span class=\"_ _3\"></span>ch deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be su<span class=\"_ _3\"></span>c<span class=\"ls4 ws4\">-</span>cess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he vo<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s in which Bar<span class=\"_ _0\"></span>co<span class=\"_ _0\"></span> op<span class=\"_ _3\"></span>erat<span class=\"_ _0\"></span>es led the Boar<span class=\"_ _0\"></span>d of Dir<span class=\"_ _0\"></span>ectors t<span class=\"_ _0\"></span>o conc<span class=\"_ _0\"></span>lude tha<span class=\"_ _3\"></span>t Barco\u2019s deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s sin<span class=\"_ _3\"></span>ce 2015 n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r me<span class=\"_ _3\"></span>et the c<span class=\"_ _3\"></span>riter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e criter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>.57 a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lled<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses as o<span class=\"_ _3\"></span>f 2015 was n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d.4. Other intangible assetsInt<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired s<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>arate<span class=\"_ _3\"></span>ly are c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>.Int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a busi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss com<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized at fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y from g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll if th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue ca<span class=\"_ _3\"></span>n be m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured re<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>bly u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d are am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic lifet<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>n a st<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis n<span class=\"_ _3\"></span>ot excee<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 7 years.5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.9<span class=\"_ _0\"></span>. Financial assetsTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es it<span class=\"_ _3\"></span>s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>eg<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>es: fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds on t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>\u2019s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el for m<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>agi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l terms of t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. Ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>es the c<span class=\"_ _3\"></span>las<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>t init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Regular pur<span class=\"_ _0\"></span>chases and<span class=\"_ _0\"></span> sales of financ<span class=\"_ _0\"></span>ial assets ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>gniz<span class=\"_ _0\"></span>ed on th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e date \u2013 th<span class=\"_ _3\"></span>e date on w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p comm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to pu<span class=\"_ _3\"></span>rchase o<span class=\"_ _3\"></span>r sel<span class=\"_ _3\"></span>l an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>.At in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l recog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et at it<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>lus<span class=\"_ _3\"></span>, in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et not a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it or l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at are d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anc<span class=\"_ _3\"></span>ial as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (su<span class=\"_ _3\"></span>ch as lo<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d cash e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ts) are s<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>entl<span class=\"_ _3\"></span>y mea<span class=\"_ _3\"></span>sured a<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized<span class=\"_ _3\"></span> cost us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>y are he<span class=\"_ _3\"></span>ld for co<span class=\"_ _3\"></span>llec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>al ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt sol<span class=\"_ _3\"></span>ely p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>.T<span class=\"_ _2\"></span>rade and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _0\"></span> af<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span> and within one<span class=\"_ _0\"></span> year ar<span class=\"_ _0\"></span>e recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue an<span class=\"_ _3\"></span>d su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, i<span class=\"_ _3\"></span>.e. at t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>t pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces fo<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s on a for<span class=\"ls4 ws4\">-</span>ward<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>asis t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>oss as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. Fo<span class=\"_ _3\"></span>r tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he si<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lifi<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roach p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted by I<span class=\"_ _3\"></span>FRS 9 Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich req<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>s exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifeti<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s to be reco<span class=\"_ _3\"></span>gnized f<span class=\"_ _3\"></span>rom in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce is de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of the a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d is recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span> within<span class=\"_ _0\"></span> other operating inc<span class=\"_ _0\"></span>ome. 13. T<span class=\"_ _18\"></span>rade debtors and other amounts receivableT<span class=\"_ _2\"></span>rade debtors<span class=\"_ _0\"></span> and other amounts r<span class=\"_ _0\"></span>eceivable ar<span class=\"_ _0\"></span>e shown<span class=\"_ _0\"></span> on the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce shee<span class=\"_ _3\"></span>t at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t (in ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l, th<span class=\"_ _3\"></span>e or<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>nal am<span class=\"_ _3\"></span>ount i<span class=\"_ _3\"></span>nvoi<span class=\"_ _3\"></span>ced) le<span class=\"_ _3\"></span>ss an a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts a<span class=\"_ _3\"></span>nd les<span class=\"_ _3\"></span>s an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt for ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted cre<span class=\"_ _3\"></span>dit lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>s recorde<span class=\"_ _3\"></span>d in o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en it is p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny wi<span class=\"_ _3\"></span>ll no<span class=\"_ _3\"></span>t be a<span class=\"_ _3\"></span>ble to col<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t all a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s due<span class=\"_ _3\"></span>. All<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re calcu<span class=\"_ _3\"></span>lated o<span class=\"_ _3\"></span>n an i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>is, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on an a<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. For th<span class=\"_ _3\"></span>e dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on of the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>imp<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch an<span class=\"_ _3\"></span>d records li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>.15. ProvisionsProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has a p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt leg<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r cons<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of a p<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t event<span class=\"_ _3\"></span>, it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble tha<span class=\"_ _3\"></span>t an ou<span class=\"_ _3\"></span>tf<span class=\"_ _3\"></span>low of re<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rces em<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>dy<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ts wil<span class=\"_ _3\"></span>l be re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>red to set<span class=\"_ _3\"></span>tle t<span class=\"_ _3\"></span>he ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a rel<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mate can b<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>de to t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>izes the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y to rep<span class=\"_ _3\"></span>air o<span class=\"_ _3\"></span>r repl<span class=\"_ _3\"></span>ace p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ill u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. Th<span class=\"_ _3\"></span>e prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce of the le<span class=\"_ _0\"></span>vel of r<span class=\"_ _0\"></span>epairs and r<span class=\"_ _0\"></span>eplacements.A provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng is o<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up ha<span class=\"_ _3\"></span>s app<span class=\"_ _3\"></span>roved a d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d and fo<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>as ei<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced or h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d to thos<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>fecte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e pla<span class=\"_ _3\"></span>n be<span class=\"_ _3\"></span>fore th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. On t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne item \u2018<span class=\"_ _3\"></span>Lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns\u2019, the comp<span class=\"_ _3\"></span>any p<span class=\"_ _3\"></span>res-ent<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>ng to th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>retirem<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t obligation<span class=\"_ _0\"></span>s which<span class=\"_ _0\"></span> includes the<span class=\"_ _0\"></span> Belgian de<span class=\"_ _0\"></span>fined<span class=\"_ _3\"></span>-contribu<span class=\"_ _0\"></span>tion pension plans<span class=\"_ _0\"></span> that ar<span class=\"_ _0\"></span>e by law<span class=\"_ _0\"></span> subject t<span class=\"_ _0\"></span>o minimum guarant<span class=\"_ _0\"></span>eed rates of ret<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>. Pen<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n leg<span class=\"_ _3\"></span>isl<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n was a<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2015 a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>inim<span class=\"_ _3\"></span>um g<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>antee<span class=\"_ _3\"></span>d rate of retu<span class=\"_ _3\"></span>rn as a va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>ercen<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge li<span class=\"_ _3\"></span>nked to g<span class=\"_ _3\"></span>over<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d yie<span class=\"_ _3\"></span>lds obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>rket as f<span class=\"_ _3\"></span>rom 1 Ja<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2016 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>. For 2022 th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>imu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed r<span class=\"_ _3\"></span>ate of retur<span class=\"_ _3\"></span>n rema<span class=\"_ _3\"></span>ins th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me as in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, i.e. 1<span class=\"_ _3\"></span>.75% on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. We refer to note 19 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n. A<span class=\"_ _3\"></span>s a cons<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce, th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ans have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accoun<span class=\"_ _3\"></span>ted for as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.19<span class=\"_ _0\"></span>. Employee benefitsEmp<span class=\"_ _3\"></span>loyee b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized as a<span class=\"_ _3\"></span>n exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up cons<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m ser<span class=\"_ _1\"></span>vice provi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d by an e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee i<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s,<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d as a lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y wh<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>n em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice in excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e for em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s to be p<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. Foreign currency ratesDecember 3<span class=\"_ _0\"></span>1, 2022<span class=\"_ _22\"> </span>Dec<span class=\"_ _0\"></span>ember 31, 2<span class=\"_ _0\"></span>021<span class=\"_ _1af\"> </span><span class=\"ls138 ws167\">De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 31, 2020</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cyClosing rate<span class=\"_ _df\"> </span><span class=\"lsda wsf7\">Average ra<span class=\"_ _0\"></span>te<span class=\"_ _17e\"> </span><span class=\"ls133 ws162\">Closin<span class=\"_ _3\"></span>g rate<span class=\"_ _df\"> </span></span>Aver<span class=\"_ _0\"></span>age rate<span class=\"_ _c4\"> </span><span class=\"ls133 ws162\">Clos<span class=\"_ _3\"></span>ing rate<span class=\"_ _df\"> </span></span>Average ra<span class=\"_ _0\"></span>te</span>CNY<span class=\"_ _19b\"> </span><span class=\"ls19c ws271\">7.<span class=\"_ _4\"> </span>3<span class=\"_ _3\"></span>6<span class=\"_ _b0\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _1b0\"> </span>7.<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>7.<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _de\"> </span><span class=\"ls138 ws167\">8<span class=\"_ _3\"></span>.02<span class=\"_ _e1\"> </span></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>8</span>INR<span class=\"_ _1b1\"> </span>88.17<span class=\"_ _11\"> </span>82.69<span class=\"_ _11\"> </span>84.<span class=\"_ _3\"></span>23<span class=\"_ _ad\"> </span>8<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _65\"> </span><span class=\"lsfc ws119\">8<span class=\"_ _3\"></span>9.66<span class=\"_ _73\"> </span><span class=\"lsef ws10c\">8<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>74</span></span>USD<span class=\"_ _d9\"> </span>1.<span class=\"_ _3\"></span>07<span class=\"_ _bc\"> </span>1.05<span class=\"_ _be\"> </span>1.13<span class=\"_ _b0\"> </span>1<span class=\"_ _3\"></span>.18<span class=\"_ _bc\"> </span><span class=\"ls3c ws48\">1.<span class=\"_ _3\"></span>23<span class=\"_ _be\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>14</span></span>20. T<span class=\"_ _18\"></span>ransactions in foreign currenciesT<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cies a<span class=\"_ _3\"></span>re record<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ate of tra<span class=\"_ _3\"></span>nsa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e mon<span class=\"_ _3\"></span>th b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. At t<span class=\"_ _3\"></span>he en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e account<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e uns<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tled b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces on fo<span class=\"_ _3\"></span>r<span class=\"ls4 ws4\">-</span>eig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s are va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e rates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he acco<span class=\"_ _3\"></span>unti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Forei<span class=\"_ _3\"></span>gn exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge g<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es are re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the<span class=\"_ _3\"></span>y aris<span class=\"_ _3\"></span>e.23. Income taxesCurre<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>xes a<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d are ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>g to loc<span class=\"_ _3\"></span>al ta<span class=\"_ _3\"></span>x ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od, fo<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en the t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>asis of a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g val<span class=\"_ _3\"></span>ues for fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pu<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>ax r<span class=\"_ _3\"></span>ates use<span class=\"_ _3\"></span>d are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to ap<span class=\"_ _3\"></span>ply to th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is re<span class=\"_ _3\"></span>alized o<span class=\"_ _3\"></span>r the l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>ax ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x laws t<span class=\"_ _3\"></span>hat h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted or su<span class=\"_ _3\"></span>bst<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet da<span class=\"_ _3\"></span>te.Defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard of u<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, to the ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"ls4 ws4\">-</span>feren<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>, car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>ses can b<span class=\"_ _3\"></span>e ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>ets i<span class=\"_ _3\"></span>s revie<span class=\"_ _3\"></span>wed at e<span class=\"_ _3\"></span>ach b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate an<span class=\"_ _3\"></span>d redu<span class=\"_ _3\"></span>ced to the e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>t that i<span class=\"_ _3\"></span>t is no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e that s<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>x<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le prof<span class=\"_ _3\"></span>it wi<span class=\"_ _3\"></span>ll be a<span class=\"_ _3\"></span>vai<span class=\"_ _3\"></span>lab<span class=\"_ _3\"></span>le to al<span class=\"_ _3\"></span>low al<span class=\"_ _3\"></span>l or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set to b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized.Defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>ax lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et, if a l<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ally e<span class=\"_ _3\"></span>nforcea<span class=\"_ _3\"></span>ble r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to set of<span class=\"_ _3\"></span>f cur<span class=\"_ _3\"></span>rent t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st cur<span class=\"_ _3\"></span>rent i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>come t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>te to the sa<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e sam<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>axat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.25. Share-based paymentBarco created w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns for s<span class=\"_ _3\"></span>taf<span class=\"_ _3\"></span>f a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs as we<span class=\"_ _3\"></span>ll as for i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s who p<span class=\"_ _3\"></span>lay a<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>t role in t<span class=\"_ _3\"></span>he comp<span class=\"_ _3\"></span>any. Accordin<span class=\"_ _3\"></span>g to the p<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of I<span class=\"_ _3\"></span>FRS2, t<span class=\"_ _3\"></span>he cos<span class=\"_ _3\"></span>t of sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e statem<span class=\"_ _3\"></span>ent.Th<span class=\"_ _3\"></span>e wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at g<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>t date, bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>hare p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce at gra<span class=\"_ _3\"></span>nt date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d volatili<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, dividend estimat<span class=\"_ _0\"></span>es, and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>tes. W<span class=\"_ _0\"></span>arrant co<span class=\"_ _0\"></span>st is ta<span class=\"_ _3\"></span>ken into res<span class=\"_ _3\"></span>ult on a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e basis f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te unti<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of the v<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. 24<span class=\"_ _0\"></span>. Impairment of assetsGo<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll is revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent at le<span class=\"_ _3\"></span>ast a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual<span class=\"_ _3\"></span>ly. For othe<span class=\"_ _3\"></span>r ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets<span class=\"_ _3\"></span>, at ea<span class=\"_ _3\"></span>ch ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate, an as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent is m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e as to wh<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>er any i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s that a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ay be i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d. If a<span class=\"_ _3\"></span>ny such i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ed ou<span class=\"_ _3\"></span>t in ord<span class=\"_ _3\"></span>er to de<span class=\"_ _3\"></span>termi<span class=\"_ _3\"></span>ne if a<span class=\"_ _3\"></span>nd to wha<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>tent an im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>s nece<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y to red<span class=\"_ _3\"></span>uce th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set to its re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>unt (w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r of (i) va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e in use a<span class=\"_ _3\"></span>nd (i<span class=\"_ _3\"></span>i) fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue le<span class=\"_ _3\"></span>ss cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to sell<span class=\"_ _3\"></span>). The f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e les<span class=\"_ _3\"></span>s cost<span class=\"_ _3\"></span>s to sell i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s (i) th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (th<span class=\"_ _3\"></span>at is th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice th<span class=\"_ _3\"></span>at wou<span class=\"_ _3\"></span>ld b<span class=\"_ _3\"></span>e receiv<span class=\"_ _3\"></span>ed to se<span class=\"_ _3\"></span>ll an as<span class=\"_ _3\"></span>set i<span class=\"_ _3\"></span>n an o<span class=\"_ _3\"></span>rder<span class=\"_ _3\"></span>ly tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on in the p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ncip<span class=\"_ _3\"></span>al m<span class=\"_ _3\"></span>arket a<span class=\"_ _3\"></span>t the m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>urem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate und<span class=\"_ _3\"></span>er cu<span class=\"_ _3\"></span>rrent mar<span class=\"_ _3\"></span>ket con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s) less (i<span class=\"_ _3\"></span>i) th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l wh<span class=\"_ _3\"></span>ile va<span class=\"_ _3\"></span>lue i<span class=\"_ _3\"></span>n use is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d to be de<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>d from a<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set. Re<span class=\"_ _3\"></span>cover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted for ind<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>idu<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, if th<span class=\"_ _3\"></span>is is n<span class=\"_ _3\"></span>ot pos<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ble, fo<span class=\"_ _3\"></span>r the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it (CGU) to whi<span class=\"_ _3\"></span>ch the a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. An i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t loss i<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized wh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ever t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of an a<span class=\"_ _3\"></span>sset or it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit e<span class=\"_ _3\"></span>xceeds i<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. Rever<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l of im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized i<span class=\"_ _3\"></span>n pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ars i<span class=\"_ _3\"></span>s inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>here is a<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>at th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized for th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et are n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>d or th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es on goodwill, which<span class=\"_ _0\"></span> are nev<span class=\"_ _0\"></span>er rev<span class=\"_ _0\"></span>ersed.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>ir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d ho<span class=\"_ _3\"></span>w issu<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s coul<span class=\"_ _3\"></span>d be res<span class=\"_ _3\"></span>olve<span class=\"_ _3\"></span>d. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>is ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-12-4": {
   "value": "3. Research and development costsResearch and development costs are expensed as incurred, except for development costs, which relate to the design and testing of new or improved materials, products or technol-ogies, which are capitalized to the extent that it is expected that such assets will generate future economic benefits and the recognition criteria of IAS38 are met. Shorter life cycles, unpredictability of which development projects will be suc-cessful, and the volatility of technologies and the markets in which Barco operates led the Board of Directors to conclude that Barco\u2019s development expenses since 2015 no longer meet the criteria of IAS38.57. As the criteria of IAS38.57 are no longer fulfilled, capitalization of development expenses as of 2015 was not allowed.Accounting treatment of development expensesShorter life cycles, unpredictability of which development proj-ects will be successful, and the volatility of technologies (more and more software development) and markets in which Barco operates led the Board of Directors to conclude that Barco\u2019s development expenses do not meet the criteria of IAS38.57. As the criteria of IAS38.57 are not fulfilled, our accounting policy, with respect to research and development costs, does not allow the capitalization of development expenses. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-2": {
   "value": "4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.9.1 Other intangible assetsIn thousands of euro 2022 2021 2020Other Intangible  Customer Other assets under  SoftwareRelations Know-howIntangible Assetsconstruction Total Total TotalAt costOn 1 January 63,761 15,124 47,786 9,907 - 136,578 134,608 157,250Expenditure 489 - 1,733 - 1,614 3,836 1,230 1,951Sales and disposals -404 -5,453 -9,535 -4,702 - -20,094 -3,312 -8,064Acquisition of subsidiaries - - 7,607 - - 7,607 - -Transfers 1,552 - - - -1,552 - - -Translation (losses)/gains 600 147 -23 -5 - 719 4,052 -16,529On 31 December 65,998 9,818 47, 569 5,200 62 128,646 136,578 134,608Amortizations and impairmentOn 1 January 48,709 15,124 45,702 9,616 - 119,151 105,655 112,781Amortization 6,375 - 3,602 59 - 10,037 13,095 13,388Impairment - - - - - - - 3,500Sales and disposals -404 -5,453 -9,535 -4,702 - -20,094 -3,312 -7,953Translation (losses)/gains 23 147 159 -27 - 302 3,713 -16,061On 31 December 54,703 9,818 39,928 4,946 - 109,396 119,151 105,655Carrying amountOn 1 January 15,053 - 2,084 290 - 17,427 28,952 44,469On 31 December 11,296 - 7,640 253 62 19,251 17,427 28,952As a result of the Gnosco acquisition know-how for an amount of 7.6 million euro was acquired, which is amortized over 5 years. We refer to note 1.3 for more explanation on the net assets acquired. Barco\u2019s intangibles mainly include SAP ERP software and remaining book value of acquired know-how. In 2022, capital expenditures for intangible assets amount to 2.1 million euro (2021: 1.2 million euro, 2020: 2 million euro). Expenditures in 2022 and 2021 mainly related to new customer relationship management (CRM) software. Expenditures in 2020 were mainly related to SAP ERP software licenses.Disposals in 2022 and 2021 relate to fully amortized IT software which is no longer used.In 2020 the impairment test on acquired intangibles resulted in an impairment of 3.5 million euro on the acquired know-how for caresyntax.The impairment cost is included in research and development expenses in 2020.The group performed its annual impairment review on acquired intangibles in the fourth quarter of 2022 consistently with prior years. Special attention was paid to the potentialim-pacts of the macroeconomic environment. The test concluded no impairments. Barco does not hold intangible assets with indefinite lifetime.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-3": {
   "value": "4. Other intangible assetsInt<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired s<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>arate<span class=\"_ _3\"></span>ly are c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>.Int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a busi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss com<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized at fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y from g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll if th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue ca<span class=\"_ _3\"></span>n be m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured re<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>bly u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d are am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic lifet<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>n a st<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis n<span class=\"_ _3\"></span>ot excee<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 7 years.5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. 19<span class=\"_ _0\"></span>. Employee benefitsEmp<span class=\"_ _3\"></span>loyee b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized as a<span class=\"_ _3\"></span>n exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up cons<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m ser<span class=\"_ _1\"></span>vice provi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d by an e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee i<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s,<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d as a lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y wh<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>n em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice in excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e for em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s to be p<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. 23. Income taxesCurre<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>xes a<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d are ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>g to loc<span class=\"_ _3\"></span>al ta<span class=\"_ _3\"></span>x ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od, fo<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en the t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>asis of a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g val<span class=\"_ _3\"></span>ues for fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pu<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>ax r<span class=\"_ _3\"></span>ates use<span class=\"_ _3\"></span>d are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to ap<span class=\"_ _3\"></span>ply to th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is re<span class=\"_ _3\"></span>alized o<span class=\"_ _3\"></span>r the l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>ax ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x laws t<span class=\"_ _3\"></span>hat h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted or su<span class=\"_ _3\"></span>bst<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet da<span class=\"_ _3\"></span>te.Defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard of u<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, to the ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"ls4 ws4\">-</span>feren<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>, car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>ses can b<span class=\"_ _3\"></span>e ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>ets i<span class=\"_ _3\"></span>s revie<span class=\"_ _3\"></span>wed at e<span class=\"_ _3\"></span>ach b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate an<span class=\"_ _3\"></span>d redu<span class=\"_ _3\"></span>ced to the e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>t that i<span class=\"_ _3\"></span>t is no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e that s<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>x<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le prof<span class=\"_ _3\"></span>it wi<span class=\"_ _3\"></span>ll be a<span class=\"_ _3\"></span>vai<span class=\"_ _3\"></span>lab<span class=\"_ _3\"></span>le to al<span class=\"_ _3\"></span>low al<span class=\"_ _3\"></span>l or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set to b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized.Defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>ax lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et, if a l<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ally e<span class=\"_ _3\"></span>nforcea<span class=\"_ _3\"></span>ble r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to set of<span class=\"_ _3\"></span>f cur<span class=\"_ _3\"></span>rent t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st cur<span class=\"_ _3\"></span>rent i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>come t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>te to the sa<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e sam<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>axat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>ir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d ho<span class=\"_ _3\"></span>w issu<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s coul<span class=\"_ _3\"></span>d be res<span class=\"_ _3\"></span>olve<span class=\"_ _3\"></span>d. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>is ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23.C<span class=\"_ _0\"></span>rit<span class=\"_ _0\"></span>ical ac<span class=\"_ _2\"></span>co<span class=\"_ _0\"></span>unt<span class=\"_ _0\"></span>ing j<span class=\"_ _0\"></span>udgmen<span class=\"_ _0\"></span>ts and k<span class=\"_ _0\"></span>ey s<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>es of es<span class=\"_ _0\"></span>tim<span class=\"_ _0\"></span>at<span class=\"_ _0\"></span>ion unc<span class=\"_ _2\"></span>er<span class=\"_ _3\"></span>tain<span class=\"_ _0\"></span>tyGeneral business risksOve<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020 th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c cond<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 Bar<span class=\"_ _0\"></span>co i<span class=\"_ _0\"></span>ncluded.We refer to the ch<span class=\"_ _3\"></span>apter \u2018<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s\u2019 (see Corporat<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> Gove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce &amp; Risk rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e 29<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>43<span class=\"fc0\">) fo<span class=\"_ _3\"></span>r an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e </span>risk<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f the B<span class=\"_ _3\"></span>arco Gro<span class=\"_ _3\"></span>up. \u2022  <span class=\"_ _8\"> </span>T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s: as prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>usl<span class=\"_ _3\"></span>y discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d, Ba<span class=\"_ _3\"></span>rco is not i<span class=\"_ _3\"></span>mmu<span class=\"_ _3\"></span>ne to com<span class=\"_ _3\"></span>po-ne<span class=\"_ _3\"></span>nt sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch have impact<span class=\"_ _0\"></span>ed and c<span class=\"_ _0\"></span>ontinue t<span class=\"_ _0\"></span>o impact c<span class=\"_ _0\"></span>ertain product<span class=\"_ _0\"></span> lines. Th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>late to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>live<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es of comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _24\"> </span>Hi<span class=\"_ _3\"></span>gh inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in mos<span class=\"_ _3\"></span>t ge<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>phi<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rel<span class=\"_ _3\"></span>ated to sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, energy and<span class=\"_ _0\"></span> component c<span class=\"_ _0\"></span>ost<span class=\"_ _3\"></span>s.\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Remaining pandemic-r<span class=\"_ _0\"></span>elated effects in<span class=\"_ _0\"></span> China. Sev<span class=\"_ _0\"></span>eral lockd<span class=\"_ _3\"></span>own<span class=\"_ _3\"></span>s lead to lo<span class=\"_ _3\"></span>wer p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he Chin<span class=\"_ _3\"></span>a regi<span class=\"_ _3\"></span>on (m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly bu<span class=\"_ _3\"></span>t not l<span class=\"_ _3\"></span>imite<span class=\"_ _3\"></span>d to the Ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>in<span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>s).\u2022 <span class=\"_ _141\"> </span>Scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y of<span class=\"_ _0\"></span> human resour<span class=\"_ _0\"></span>ces and<span class=\"_ _0\"></span> talent.A<span class=\"_ _3\"></span>s Russ<span class=\"_ _3\"></span>ia's inva<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n of Ukr<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns towa<span class=\"_ _3\"></span>rds Rus<span class=\"_ _3\"></span>sia have a li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco's busi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s over<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>, con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly the<span class=\"_ _3\"></span>re is no s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>nt ris<span class=\"_ _3\"></span>k. Fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ore Ba<span class=\"_ _3\"></span>rco reviewe<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d that t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no mat<span class=\"_ _0\"></span>erial impact.ApproachIn th<span class=\"_ _3\"></span>is se<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, Barco ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s its r<span class=\"_ _3\"></span>isk m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>lan re<span class=\"_ _3\"></span>lated<span class=\"_ _3\"></span> to the m<span class=\"_ _3\"></span>ain 202<span class=\"_ _3\"></span>2 macro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Op<span class=\"_ _3\"></span>erat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d supp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ainTh<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>wid<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es in d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t comm<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>1 and 20<span class=\"_ _0\"></span>22, test<span class=\"_ _0\"></span>ed Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> supply chain<span class=\"_ _0\"></span> resilience<span class=\"_ _0\"></span>. Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> stro<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>ps an<span class=\"_ _3\"></span>d agi<span class=\"_ _3\"></span>le ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch have p<span class=\"_ _3\"></span>roven to be key to fi<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the s<span class=\"_ _3\"></span>hor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n man<span class=\"_ _3\"></span>y case<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Neve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, Barco is n<span class=\"_ _3\"></span>ot imm<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>e to comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n const<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich have i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>acte<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nue to i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e team has l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gated th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t was fe<span class=\"_ _3\"></span>lt in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rat<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lled o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco expe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced a de<span class=\"_ _3\"></span>lay in sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e year of a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut 40 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily in En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent fo<span class=\"_ _3\"></span>r proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tor-l<span class=\"_ _3\"></span>ine d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. B<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the t<span class=\"_ _3\"></span>hird q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter thi<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>lay d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>ed to 20 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro w<span class=\"_ _3\"></span>ith f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mprove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt toward<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar<span class=\"_ _0\"></span>.Barco ha<span class=\"_ _3\"></span>s ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se cha<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s by inten<span class=\"_ _3\"></span>se coll<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on with al<span class=\"_ _0\"></span>l suppliers and the<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span>volvement o<span class=\"_ _0\"></span>f brok<span class=\"_ _0\"></span>ers for the s<span class=\"_ _3\"></span>ourci<span class=\"_ _3\"></span>ng of cri<span class=\"_ _3\"></span>tic<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>re, the re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sign<span class=\"_ _3\"></span> of pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l con<span class=\"_ _0\"></span>tinue to<span class=\"_ _0\"></span> be. For<span class=\"_ _0\"></span> certain componen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> subassemblies, inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>een te<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ora<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y increa<span class=\"_ _3\"></span>sed to lo<span class=\"_ _3\"></span>wer th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. Cop<span class=\"_ _3\"></span>ing wi<span class=\"_ _3\"></span>th inf<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>h com<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y pri<span class=\"_ _3\"></span>cesTh<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>math o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n geo<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>olit<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n have l<span class=\"_ _3\"></span>ed to hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d a stee<span class=\"_ _3\"></span>p increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A a<span class=\"_ _3\"></span>nd A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco ha<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>ly low ex<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>nal d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed inte<span class=\"_ _3\"></span>rest rates o<span class=\"_ _3\"></span>n 2022 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s is li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d. Th<span class=\"_ _3\"></span>e ris<span class=\"_ _3\"></span>ks d<span class=\"_ _3\"></span>escr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n this c<span class=\"_ _3\"></span>hap<span class=\"_ _3\"></span>ter are no<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>ks f<span class=\"_ _3\"></span>acin<span class=\"_ _3\"></span>g the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any. Addi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l risk<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inti<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot cur<span class=\"_ _3\"></span>rently kno<span class=\"_ _3\"></span>wn to the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any cur<span class=\"_ _3\"></span>rently d<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>ms to be im<span class=\"_ _3\"></span>mater<span class=\"_ _3\"></span>ial a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so may m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y ad<span class=\"_ _3\"></span>vers<span class=\"_ _3\"></span>ely a<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ness, financial<span class=\"_ _0\"></span> condition and/<span class=\"_ _2\"></span>or operating r<span class=\"_ _0\"></span>esults.In vi<span class=\"_ _3\"></span>ew of cli<span class=\"_ _3\"></span>mate rel<span class=\"_ _3\"></span>ated mat<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s busin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s is no<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by ex<span class=\"_ _3\"></span>trem<span class=\"_ _3\"></span>e weat<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns su<span class=\"_ _3\"></span>ch as drou<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s or f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>ds<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco is movi<span class=\"_ _3\"></span>ng towa<span class=\"_ _3\"></span>rds mo<span class=\"_ _3\"></span>re eco<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>fri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dly p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d we se<span class=\"_ _3\"></span>e that o<span class=\"_ _3\"></span>ur cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er\u2019s b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avio<span class=\"_ _3\"></span>ur a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd is ma<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me evo<span class=\"_ _3\"></span>luti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.De<span class=\"_ _3\"></span>ep di<span class=\"_ _3\"></span>ve on th<span class=\"_ _3\"></span>e 2022 co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>que<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>act of t<span class=\"_ _3\"></span>he macroeconomic environmentIn 2022, e<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>lly af<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter, the gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l covi<span class=\"_ _3\"></span>d-19 situ<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>ly, allow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns to be c<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>rie<span class=\"_ _3\"></span>d out i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>in an<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d for o<span class=\"_ _3\"></span>ur pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g in m<span class=\"_ _3\"></span>ost g<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>aph<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e mai<span class=\"_ _3\"></span>n except<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>s Chin<span class=\"_ _3\"></span>a, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re loc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>ed to af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct th<span class=\"_ _3\"></span>e bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d loc<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s thro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e ful<span class=\"_ _3\"></span>l year. In the a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ath of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>s a result o<span class=\"_ _3\"></span>f geo<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l even<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, 2022 pos<span class=\"_ _3\"></span>ed n<span class=\"_ _3\"></span>ew ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic ch<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Barco. T<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>s were:Th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd com<span class=\"_ _1\"></span><span class=\"ls4 ws4\">-</span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt sou<span class=\"_ _3\"></span>rcing<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>l the<span class=\"_ _3\"></span>se cost<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re be<span class=\"_ _3\"></span>ing cr<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>cal<span class=\"_ _3\"></span>ly revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imized o<span class=\"_ _3\"></span>n a cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt bas<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s were<span class=\"_ _3\"></span> passed<span class=\"_ _0\"></span> through w<span class=\"_ _0\"></span>ere poss<span class=\"_ _0\"></span>ible.Lif<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g of pa<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>mic m<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, with th<span class=\"_ _3\"></span>e except<span class=\"_ _3\"></span>ion of Ch<span class=\"_ _3\"></span>inaTh<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c covi<span class=\"_ _3\"></span>d-1<span class=\"_ _3\"></span>9 situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n has i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in mos<span class=\"_ _3\"></span>t regi<span class=\"_ _3\"></span>ons t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>out 202<span class=\"_ _3\"></span>2, esp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ciall<span class=\"_ _3\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>is has a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>ed to retur<span class=\"_ _3\"></span>n to nor<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span>ized op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. It al<span class=\"_ _3\"></span>so has f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ema<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r our p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, mos<span class=\"_ _3\"></span>t not<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he Ent<span class=\"_ _0\"></span>erprise and E<span class=\"_ _0\"></span>ntertainment divi<span class=\"_ _0\"></span>sions. In Chi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>, the co<span class=\"_ _3\"></span>urs<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c has fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d a dif<span class=\"ls4 ws4\">-</span>ferent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>, with q<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>cker recover<span class=\"_ _1\"></span>y in 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, but sti<span class=\"_ _3\"></span>ll si<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>fic<span class=\"_ _3\"></span>ant l<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns in 2022<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e busi<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ness operations<span class=\"_ _0\"></span> and the cust<span class=\"_ _0\"></span>omer demand. In our<span class=\"_ _0\"></span> Chinese loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hygie<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c safet<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures (s<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>l dis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g, venti<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, mas<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, ho<span class=\"_ _3\"></span>mew<span class=\"_ _3\"></span>ork p<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>s) have th<span class=\"_ _3\"></span>erefore b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut 2022. D<span class=\"_ _3\"></span>esp<span class=\"_ _3\"></span>ite all m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures p<span class=\"_ _3\"></span>ut in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, at tim<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he Chi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns h<span class=\"_ _3\"></span>ave run at l<span class=\"_ _3\"></span>ower c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>acit<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>.Retaining and attractin<span class=\"_ _3\"></span>g talentTh<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c has p<span class=\"_ _3\"></span>ut m<span class=\"_ _3\"></span>ore pre<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>re on th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>r market<span class=\"_ _0\"></span> in many<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphies, with<span class=\"_ _0\"></span> higher turnov<span class=\"_ _0\"></span>er of personnel see<span class=\"_ _3\"></span>n in m<span class=\"_ _3\"></span>any se<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco. Barco has i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> its hiring<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y and emplo<span class=\"_ _0\"></span>yer branding campaigns<span class=\"_ _0\"></span> to a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tract the r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ta<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce is a<span class=\"_ _3\"></span>n increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>age l<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or cos<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tl<span class=\"_ _3\"></span>y dri<span class=\"_ _3\"></span>ven by s<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. We have cross cha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lab<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>r cost in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on ou<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ere po<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ble to ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t thi<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed cos<span class=\"_ _3\"></span>t ba<span class=\"_ _3\"></span>se.Stron<span class=\"_ _3\"></span>g fun<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g and l<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ty s<span class=\"_ _3\"></span>truc<span class=\"_ _3\"></span>ture i<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>aceBarco ha<span class=\"_ _3\"></span>s a stro<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y. We refer to note 14 for more d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on B<span class=\"_ _3\"></span>arco\u2019s net ca<span class=\"_ _3\"></span>sh p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Barco ha<span class=\"_ _3\"></span>s suf<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>nt he<span class=\"_ _3\"></span>adro<span class=\"_ _3\"></span>om to en<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le it to confor<span class=\"_ _3\"></span>m to cov<span class=\"ls4 ws4\">-</span>ena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ex<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h all re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e loa<span class=\"_ _3\"></span>n covena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le credi<span class=\"_ _3\"></span>t facili<span class=\"_ _0\"></span>ties thr<span class=\"_ _0\"></span>oughout the<span class=\"_ _0\"></span> reporting period.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure may s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l bri<span class=\"_ _3\"></span>ng so<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s of he<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>d, Barco\u2019s st<span class=\"_ _3\"></span>rong f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>ure in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce sho<span class=\"_ _3\"></span>uld be m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an su<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fici<span class=\"_ _3\"></span>ent to en<span class=\"_ _3\"></span>sure th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g conce<span class=\"_ _3\"></span>rn of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any. In ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, we refer to note 8 w<span class=\"_ _3\"></span>here w<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n how we te<span class=\"_ _3\"></span>sted g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ll oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s for imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d con<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>ded n<span class=\"_ _3\"></span>o im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es ne<span class=\"_ _3\"></span>ed to b<span class=\"_ _3\"></span>erec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed.Key sour<span class=\"_ _3\"></span>ces of e<span class=\"_ _3\"></span>stim<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n unc<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>yUn<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s: The G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p revie<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>eir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osi-tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd in t<span class=\"_ _3\"></span>he t<span class=\"_ _3\"></span>ax f<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ngs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In a<span class=\"_ _3\"></span>ddit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ow iss<span class=\"_ _3\"></span>ues t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span><span class=\"ws4\">-</span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be re<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ved. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t, a D<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent th<span class=\"_ _3\"></span>at it is pr<span class=\"_ _0\"></span>obable that fut<span class=\"_ _0\"></span>ure taxable<span class=\"_ _0\"></span> profit will<span class=\"_ _0\"></span> be available against<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s can b<span class=\"_ _3\"></span>e utili<span class=\"_ _0\"></span>zed. In<span class=\"_ _0\"></span> making its judgment, management<span class=\"_ _0\"></span> considers<span class=\"_ _0\"></span> ele<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategy, inclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g tax p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>unit<span class=\"_ _3\"></span>ies (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 10 \u2018Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies\u2019<span class=\"_ _3\"></span>) a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l ta<span class=\"_ _3\"></span>x laws e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted at t<span class=\"_ _3\"></span>he rep<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span> da<span class=\"_ _3\"></span>te.defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23 (see<span class=\"_ _3\"></span> note 10 \u2018D<span class=\"_ _3\"></span>efe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s\u2019).<span class=\"_ _24\"> </span>Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll: th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y or mo<span class=\"_ _3\"></span>re freq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly if t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re are ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns t<span class=\"_ _3\"></span>hat go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll mi<span class=\"_ _3\"></span>ght b<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>red (se<span class=\"_ _3\"></span>e note 8 \u2019Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>\u2019<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter of 2022<span class=\"_ _3\"></span>, did n<span class=\"_ _3\"></span>ot res<span class=\"_ _3\"></span>ult in a<span class=\"_ _3\"></span>n impa<span class=\"_ _3\"></span>irme<span class=\"_ _3\"></span>nt loss.<span class=\"_ _141\"> </span>Wr<span class=\"_ _3\"></span>ite off<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s: Inventor<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er of cost o<span class=\"_ _3\"></span>r net rea<span class=\"_ _3\"></span>liz<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>an<span class=\"_ _3\"></span>ce for slow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovin<span class=\"_ _3\"></span>g inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent<span class=\"_ _3\"></span>ly ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>end o<span class=\"_ _3\"></span>n bo<span class=\"_ _3\"></span>th his<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l an<span class=\"_ _3\"></span>d fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d, of w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the l<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>ter is su<span class=\"_ _3\"></span>bje<span class=\"_ _3\"></span>ct to un<span class=\"_ _3\"></span>cer<span class=\"ls4 ws4\">-</span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y du<span class=\"_ _3\"></span>e to rap<span class=\"_ _3\"></span>id tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. On to<span class=\"_ _3\"></span>p of th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>re seve<span class=\"_ _3\"></span>re rul<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in c<span class=\"_ _3\"></span>ase of for exa<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to stop a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it or p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g invento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y on h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d is in th<span class=\"_ _3\"></span>at ca<span class=\"_ _3\"></span>se analyzed<span class=\"_ _0\"></span> and reserved as<span class=\"_ _0\"></span> appropriate<span class=\"_ _0\"></span>. Inven<span class=\"_ _0\"></span>tor<span class=\"_ _3\"></span>y allo<span class=\"_ _0\"></span>wances are on<span class=\"_ _3\"></span>ly rever<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ru<span class=\"_ _3\"></span>les n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ap<span class=\"_ _3\"></span>ply or th<span class=\"_ _3\"></span>e wr<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ten of<span class=\"_ _3\"></span>f inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s sol<span class=\"_ _3\"></span>d or scr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d (see n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>2 '<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>to<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>'<span class=\"_ _1\"></span>).<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. Acco<span class=\"_ _0\"></span>unting t<span class=\"_ _0\"></span>reatment<span class=\"_ _0\"></span> of dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesSh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ter li<span class=\"_ _3\"></span>fe cycle<span class=\"_ _3\"></span>s, u<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>redi<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch de<span class=\"_ _3\"></span>velo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e su<span class=\"_ _3\"></span>ccess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e vol<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es (mo<span class=\"_ _3\"></span>re an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt) a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tes led t<span class=\"_ _3\"></span>he B<span class=\"_ _3\"></span>oard of D<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s to conclu<span class=\"_ _3\"></span>de th<span class=\"_ _3\"></span>at Ba<span class=\"_ _3\"></span>rco\u2019s deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses d<span class=\"_ _3\"></span>o not m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. As<span class=\"_ _3\"></span> the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57 are n<span class=\"_ _3\"></span>ot fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d, o<span class=\"_ _3\"></span>ur accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cy, wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>s not all<span class=\"_ _3\"></span>ow the c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s. Defined benefit<span class=\"_ _0\"></span> obligationsTh<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an (se<span class=\"_ _3\"></span>e note 19) an<span class=\"_ _3\"></span>d the p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re deter<span class=\"ls4 ws4\">-</span>mined us<span class=\"_ _0\"></span>ing actuarial<span class=\"_ _0\"></span> valuations. An<span class=\"_ _0\"></span> actuarial valu<span class=\"_ _0\"></span>ation inv<span class=\"_ _0\"></span>olves making v<span class=\"_ _0\"></span>arious assump<span class=\"_ _0\"></span>tions that<span class=\"_ _0\"></span> may di<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fer fr<span class=\"_ _0\"></span>om actual<span class=\"_ _0\"></span> devel<span class=\"ls4 ws4\">-</span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion of the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate, f<span class=\"_ _3\"></span>uture s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rate<span class=\"_ _3\"></span>s and fut<span class=\"_ _3\"></span>ure pe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lexi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s invo<span class=\"_ _3\"></span>lved i<span class=\"_ _3\"></span>n the v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term n<span class=\"_ _3\"></span>ature, a d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is hig<span class=\"_ _3\"></span>hly s<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ve to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. All a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns are rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>ed on re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date.Ke<span class=\"_ _0\"></span>y assumptions used in<span class=\"_ _0\"></span> value-in-use cal<span class=\"_ _0\"></span>culationsTh<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>-i<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>use for a<span class=\"_ _3\"></span>ll ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit<span class=\"_ _3\"></span>s is mos<span class=\"_ _3\"></span>t se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>ive to th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns:\u2022 <span class=\"_ _141\"> </span>S<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d dur<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d;\u2022 EBIT<span class=\"_ _3\"></span>DA; \u2022 <span class=\"_ _2a\"> </span>Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to extr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate cash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he budget period<span class=\"_ _0\"></span>;\u2022 <span class=\"_ _141\"> </span>D<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate;Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re show<span class=\"_ _3\"></span>n in b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le:Healt<span class=\"_ _0\"></span>hcare<span class=\"_ _14b\"> </span><span class=\"ls16 ws1f\">Enterprise<span class=\"_ _55\"> </span><span class=\"ls1f ws29\">Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inme<span class=\"_ _3\"></span>nt</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d<span class=\"_ _24e\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _24f\"> </span>11.<span class=\"_ _3\"></span>2%<span class=\"_ _6e\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>1.<span class=\"_ _3\"></span>4%<span class=\"_ _235\"> </span><span class=\"lsfc ws119\">9.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%</span></span>Gro<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>tes<span class=\"_ _250\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _80\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%<span class=\"_ _6e\"> </span>10.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _70\"> </span>10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%</span>Sal<span class=\"_ _3\"></span>es gr<span class=\"_ _3\"></span>owth r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d duri<span class=\"_ _3\"></span>ng the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>riod<span class=\"ff4 ls4d wsa1\"> \u2013 S<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> </span>grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate used ov<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od ha<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>en kep<span class=\"_ _3\"></span>t conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>ly at zero pe<span class=\"_ _3\"></span>rcent for al<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its<span class=\"_ _3\"></span>, sin<span class=\"_ _3\"></span>ce even th<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no ri<span class=\"_ _3\"></span>sk for i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. EBITDA a<span class=\"_ _3\"></span>s per<span class=\"_ _3\"></span>cent<span class=\"_ _3\"></span>age of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls28\"> <span class=\"_ _0\"></span>\u2013 EBI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>DA as pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s </span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree yea<span class=\"_ _3\"></span>rs p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cedi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f the b<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d for a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ke<span class=\"_ _3\"></span>pt cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ativ<span class=\"_ _3\"></span>ely f<span class=\"_ _3\"></span>lat ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ere as of 2024, the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>et back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA level<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he 2019 EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>% (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) it is m<span class=\"_ _3\"></span>ore real<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic to ta<span class=\"_ _3\"></span>ke the p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA leve<span class=\"_ _3\"></span>l of 2019 (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) as of 2024.Grow<span class=\"_ _3\"></span>th rate estim<span class=\"_ _3\"></span>ates<span class=\"ff4 ls2a ws39\"> \u2013 The lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>late </span>the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n kept con<span class=\"_ _3\"></span>ser<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely at zero % for a<span class=\"_ _3\"></span>ll cash-<span class=\"_ _3\"></span>generating uni<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s.Disco<span class=\"_ _3\"></span>unt rate \u2013 Dis<span class=\"_ _3\"></span>coun<span class=\"_ _3\"></span>t rate refl<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic to Ba<span class=\"_ _3\"></span>rco Group<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>count rate wa<span class=\"_ _3\"></span>s est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a (lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm) pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x cost of ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>ein<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>cit in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. It w<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n grou<span class=\"_ _3\"></span>p leve<span class=\"_ _3\"></span>l.Sensitivity to<span class=\"_ _0\"></span> changes in assumptionsPer 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, on<span class=\"_ _3\"></span>ly a ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>e in EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n could re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt a<span class=\"_ _3\"></span>re discu<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>elow<span class=\"_ _3\"></span>:EBITDA p<span class=\"_ _3\"></span>erc<span class=\"_ _3\"></span>enta<span class=\"_ _3\"></span>ge on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls20 ws38\"> \u2013 Management has<span class=\"_ _0\"></span> consider<span class=\"_ _0\"></span>ed </span>the p<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y of lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted EBI<span class=\"_ _3\"></span>TDA p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s. For H<span class=\"_ _3\"></span>ealth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a re<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ast ye<span class=\"_ _3\"></span>ar of t<span class=\"_ _3\"></span>he pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vely m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 7<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, 7% a<span class=\"_ _3\"></span>nd 4% wo<span class=\"_ _3\"></span>uld re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n an impairment. Disco<span class=\"_ _3\"></span>unt rates<span class=\"ff4 ls2e wse\"> \u2013 Management<span class=\"_ _0\"></span> has c<span class=\"_ _0\"></span>onsidered<span class=\"_ _0\"></span> the possibil<span class=\"ls4 ws4\">-</span></span>it<span class=\"_ _3\"></span>y of a si<span class=\"_ _3\"></span>gnif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er we<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e cost to tes<span class=\"_ _3\"></span>t the sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y. For no<span class=\"_ _3\"></span>ne o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s this l<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>s to an im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate estim<span class=\"_ _3\"></span>ate (beyo<span class=\"_ _3\"></span>nd the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d)<span class=\"ff4 ws39\"> \u2013 For al<span class=\"_ _3\"></span>l </span>div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, no rea<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate, use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, wo<span class=\"_ _3\"></span>uld res<span class=\"_ _3\"></span>ult in an impairment.In as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>heth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>t is prob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>at so<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l of the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>alized w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>in th<span class=\"_ _3\"></span>e fores<span class=\"_ _3\"></span>eea<span class=\"_ _3\"></span>ble fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he ult<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>te realizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s is de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nt up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit d<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e periods in<span class=\"_ _0\"></span> which those<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences bec<span class=\"_ _0\"></span>om<span class=\"_ _3\"></span>e deduct<span class=\"_ _0\"></span><span class=\"ls4 ws4\">-</span>ible. M<span class=\"_ _0\"></span>anagem<span class=\"_ _3\"></span>ent c<span class=\"_ _0\"></span>onsiders the s<span class=\"_ _0\"></span>cheduled re<span class=\"_ _0\"></span>versal of de<span class=\"_ _0\"></span>ferred ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>eab<span class=\"_ _3\"></span>le ta<span class=\"_ _3\"></span>x event<span class=\"_ _3\"></span>s in m<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>his as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n fu<span class=\"_ _3\"></span>ture t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit w<span class=\"_ _3\"></span>as fa<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>red in i<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span> reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. A tim<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od of 5 yea<span class=\"_ _3\"></span>rs is co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>dere<span class=\"_ _3\"></span>d. In 2022 w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized as e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le at 0.7<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2021<span class=\"_ _3\"></span>.In 2020, wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs we<span class=\"_ _3\"></span>re imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic an<span class=\"_ _3\"></span>d resu<span class=\"_ _3\"></span>lted in hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized as ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse (1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 1.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les). Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-4": {
   "value": "4. Other intangible assetsInt<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired s<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>arate<span class=\"_ _3\"></span>ly are c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>.Int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a busi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss com<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized at fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y from g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll if th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue ca<span class=\"_ _3\"></span>n be m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured re<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>bly u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d are am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic lifet<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>n a st<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis n<span class=\"_ _3\"></span>ot excee<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 7 years.5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. 19<span class=\"_ _0\"></span>. Employee benefitsEmp<span class=\"_ _3\"></span>loyee b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized as a<span class=\"_ _3\"></span>n exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up cons<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m ser<span class=\"_ _1\"></span>vice provi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d by an e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee i<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s,<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d as a lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y wh<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>n em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice in excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e for em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s to be p<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. 23. Income taxesCurre<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>xes a<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d are ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>g to loc<span class=\"_ _3\"></span>al ta<span class=\"_ _3\"></span>x ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od, fo<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en the t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>asis of a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g val<span class=\"_ _3\"></span>ues for fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pu<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>ax r<span class=\"_ _3\"></span>ates use<span class=\"_ _3\"></span>d are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to ap<span class=\"_ _3\"></span>ply to th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is re<span class=\"_ _3\"></span>alized o<span class=\"_ _3\"></span>r the l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>ax ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x laws t<span class=\"_ _3\"></span>hat h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted or su<span class=\"_ _3\"></span>bst<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet da<span class=\"_ _3\"></span>te.Defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard of u<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, to the ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"ls4 ws4\">-</span>feren<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>, car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>ses can b<span class=\"_ _3\"></span>e ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>ets i<span class=\"_ _3\"></span>s revie<span class=\"_ _3\"></span>wed at e<span class=\"_ _3\"></span>ach b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate an<span class=\"_ _3\"></span>d redu<span class=\"_ _3\"></span>ced to the e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>t that i<span class=\"_ _3\"></span>t is no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e that s<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>x<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le prof<span class=\"_ _3\"></span>it wi<span class=\"_ _3\"></span>ll be a<span class=\"_ _3\"></span>vai<span class=\"_ _3\"></span>lab<span class=\"_ _3\"></span>le to al<span class=\"_ _3\"></span>low al<span class=\"_ _3\"></span>l or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set to b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized.Defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>ax lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et, if a l<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ally e<span class=\"_ _3\"></span>nforcea<span class=\"_ _3\"></span>ble r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to set of<span class=\"_ _3\"></span>f cur<span class=\"_ _3\"></span>rent t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st cur<span class=\"_ _3\"></span>rent i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>come t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>te to the sa<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e sam<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>axat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>ir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d ho<span class=\"_ _3\"></span>w issu<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s coul<span class=\"_ _3\"></span>d be res<span class=\"_ _3\"></span>olve<span class=\"_ _3\"></span>d. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>is ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23.C<span class=\"_ _0\"></span>rit<span class=\"_ _0\"></span>ical ac<span class=\"_ _2\"></span>co<span class=\"_ _0\"></span>unt<span class=\"_ _0\"></span>ing j<span class=\"_ _0\"></span>udgmen<span class=\"_ _0\"></span>ts and k<span class=\"_ _0\"></span>ey s<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>es of es<span class=\"_ _0\"></span>tim<span class=\"_ _0\"></span>at<span class=\"_ _0\"></span>ion unc<span class=\"_ _2\"></span>er<span class=\"_ _3\"></span>tain<span class=\"_ _0\"></span>tyGeneral business risksOve<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020 th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c cond<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 Bar<span class=\"_ _0\"></span>co i<span class=\"_ _0\"></span>ncluded.We refer to the ch<span class=\"_ _3\"></span>apter \u2018<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s\u2019 (see Corporat<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> Gove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce &amp; Risk rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e 29<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>43<span class=\"fc0\">) fo<span class=\"_ _3\"></span>r an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e </span>risk<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f the B<span class=\"_ _3\"></span>arco Gro<span class=\"_ _3\"></span>up. \u2022  <span class=\"_ _8\"> </span>T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s: as prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>usl<span class=\"_ _3\"></span>y discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d, Ba<span class=\"_ _3\"></span>rco is not i<span class=\"_ _3\"></span>mmu<span class=\"_ _3\"></span>ne to com<span class=\"_ _3\"></span>po-ne<span class=\"_ _3\"></span>nt sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch have impact<span class=\"_ _0\"></span>ed and c<span class=\"_ _0\"></span>ontinue t<span class=\"_ _0\"></span>o impact c<span class=\"_ _0\"></span>ertain product<span class=\"_ _0\"></span> lines. Th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>late to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>live<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es of comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _24\"> </span>Hi<span class=\"_ _3\"></span>gh inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in mos<span class=\"_ _3\"></span>t ge<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>phi<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rel<span class=\"_ _3\"></span>ated to sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, energy and<span class=\"_ _0\"></span> component c<span class=\"_ _0\"></span>ost<span class=\"_ _3\"></span>s.\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Remaining pandemic-r<span class=\"_ _0\"></span>elated effects in<span class=\"_ _0\"></span> China. Sev<span class=\"_ _0\"></span>eral lockd<span class=\"_ _3\"></span>own<span class=\"_ _3\"></span>s lead to lo<span class=\"_ _3\"></span>wer p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he Chin<span class=\"_ _3\"></span>a regi<span class=\"_ _3\"></span>on (m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly bu<span class=\"_ _3\"></span>t not l<span class=\"_ _3\"></span>imite<span class=\"_ _3\"></span>d to the Ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>in<span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>s).\u2022 <span class=\"_ _141\"> </span>Scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y of<span class=\"_ _0\"></span> human resour<span class=\"_ _0\"></span>ces and<span class=\"_ _0\"></span> talent.A<span class=\"_ _3\"></span>s Russ<span class=\"_ _3\"></span>ia's inva<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n of Ukr<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns towa<span class=\"_ _3\"></span>rds Rus<span class=\"_ _3\"></span>sia have a li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco's busi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s over<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>, con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly the<span class=\"_ _3\"></span>re is no s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>nt ris<span class=\"_ _3\"></span>k. Fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ore Ba<span class=\"_ _3\"></span>rco reviewe<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d that t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no mat<span class=\"_ _0\"></span>erial impact.ApproachIn th<span class=\"_ _3\"></span>is se<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, Barco ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s its r<span class=\"_ _3\"></span>isk m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>lan re<span class=\"_ _3\"></span>lated<span class=\"_ _3\"></span> to the m<span class=\"_ _3\"></span>ain 202<span class=\"_ _3\"></span>2 macro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Op<span class=\"_ _3\"></span>erat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d supp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ainTh<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>wid<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es in d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t comm<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>1 and 20<span class=\"_ _0\"></span>22, test<span class=\"_ _0\"></span>ed Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> supply chain<span class=\"_ _0\"></span> resilience<span class=\"_ _0\"></span>. Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> stro<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>ps an<span class=\"_ _3\"></span>d agi<span class=\"_ _3\"></span>le ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch have p<span class=\"_ _3\"></span>roven to be key to fi<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the s<span class=\"_ _3\"></span>hor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n man<span class=\"_ _3\"></span>y case<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Neve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, Barco is n<span class=\"_ _3\"></span>ot imm<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>e to comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n const<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich have i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>acte<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nue to i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e team has l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gated th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t was fe<span class=\"_ _3\"></span>lt in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rat<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lled o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco expe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced a de<span class=\"_ _3\"></span>lay in sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e year of a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut 40 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily in En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent fo<span class=\"_ _3\"></span>r proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tor-l<span class=\"_ _3\"></span>ine d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. B<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the t<span class=\"_ _3\"></span>hird q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter thi<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>lay d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>ed to 20 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro w<span class=\"_ _3\"></span>ith f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mprove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt toward<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar<span class=\"_ _0\"></span>.Barco ha<span class=\"_ _3\"></span>s ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se cha<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s by inten<span class=\"_ _3\"></span>se coll<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on with al<span class=\"_ _0\"></span>l suppliers and the<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span>volvement o<span class=\"_ _0\"></span>f brok<span class=\"_ _0\"></span>ers for the s<span class=\"_ _3\"></span>ourci<span class=\"_ _3\"></span>ng of cri<span class=\"_ _3\"></span>tic<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>re, the re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sign<span class=\"_ _3\"></span> of pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l con<span class=\"_ _0\"></span>tinue to<span class=\"_ _0\"></span> be. For<span class=\"_ _0\"></span> certain componen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> subassemblies, inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>een te<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ora<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y increa<span class=\"_ _3\"></span>sed to lo<span class=\"_ _3\"></span>wer th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. Cop<span class=\"_ _3\"></span>ing wi<span class=\"_ _3\"></span>th inf<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>h com<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y pri<span class=\"_ _3\"></span>cesTh<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>math o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n geo<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>olit<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n have l<span class=\"_ _3\"></span>ed to hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d a stee<span class=\"_ _3\"></span>p increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A a<span class=\"_ _3\"></span>nd A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco ha<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>ly low ex<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>nal d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed inte<span class=\"_ _3\"></span>rest rates o<span class=\"_ _3\"></span>n 2022 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s is li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d. Th<span class=\"_ _3\"></span>e ris<span class=\"_ _3\"></span>ks d<span class=\"_ _3\"></span>escr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n this c<span class=\"_ _3\"></span>hap<span class=\"_ _3\"></span>ter are no<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>ks f<span class=\"_ _3\"></span>acin<span class=\"_ _3\"></span>g the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any. Addi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l risk<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inti<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot cur<span class=\"_ _3\"></span>rently kno<span class=\"_ _3\"></span>wn to the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any cur<span class=\"_ _3\"></span>rently d<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>ms to be im<span class=\"_ _3\"></span>mater<span class=\"_ _3\"></span>ial a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so may m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y ad<span class=\"_ _3\"></span>vers<span class=\"_ _3\"></span>ely a<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ness, financial<span class=\"_ _0\"></span> condition and/<span class=\"_ _2\"></span>or operating r<span class=\"_ _0\"></span>esults.In vi<span class=\"_ _3\"></span>ew of cli<span class=\"_ _3\"></span>mate rel<span class=\"_ _3\"></span>ated mat<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s busin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s is no<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by ex<span class=\"_ _3\"></span>trem<span class=\"_ _3\"></span>e weat<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns su<span class=\"_ _3\"></span>ch as drou<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s or f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>ds<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco is movi<span class=\"_ _3\"></span>ng towa<span class=\"_ _3\"></span>rds mo<span class=\"_ _3\"></span>re eco<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>fri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dly p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d we se<span class=\"_ _3\"></span>e that o<span class=\"_ _3\"></span>ur cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er\u2019s b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avio<span class=\"_ _3\"></span>ur a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd is ma<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me evo<span class=\"_ _3\"></span>luti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.De<span class=\"_ _3\"></span>ep di<span class=\"_ _3\"></span>ve on th<span class=\"_ _3\"></span>e 2022 co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>que<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>act of t<span class=\"_ _3\"></span>he macroeconomic environmentIn 2022, e<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>lly af<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter, the gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l covi<span class=\"_ _3\"></span>d-19 situ<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>ly, allow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns to be c<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>rie<span class=\"_ _3\"></span>d out i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>in an<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d for o<span class=\"_ _3\"></span>ur pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g in m<span class=\"_ _3\"></span>ost g<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>aph<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e mai<span class=\"_ _3\"></span>n except<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>s Chin<span class=\"_ _3\"></span>a, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re loc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>ed to af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct th<span class=\"_ _3\"></span>e bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d loc<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s thro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e ful<span class=\"_ _3\"></span>l year. In the a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ath of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>s a result o<span class=\"_ _3\"></span>f geo<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l even<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, 2022 pos<span class=\"_ _3\"></span>ed n<span class=\"_ _3\"></span>ew ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic ch<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Barco. T<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>s were:Th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd com<span class=\"_ _1\"></span><span class=\"ls4 ws4\">-</span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt sou<span class=\"_ _3\"></span>rcing<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>l the<span class=\"_ _3\"></span>se cost<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re be<span class=\"_ _3\"></span>ing cr<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>cal<span class=\"_ _3\"></span>ly revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imized o<span class=\"_ _3\"></span>n a cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt bas<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s were<span class=\"_ _3\"></span> passed<span class=\"_ _0\"></span> through w<span class=\"_ _0\"></span>ere poss<span class=\"_ _0\"></span>ible.Lif<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g of pa<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>mic m<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, with th<span class=\"_ _3\"></span>e except<span class=\"_ _3\"></span>ion of Ch<span class=\"_ _3\"></span>inaTh<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c covi<span class=\"_ _3\"></span>d-1<span class=\"_ _3\"></span>9 situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n has i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in mos<span class=\"_ _3\"></span>t regi<span class=\"_ _3\"></span>ons t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>out 202<span class=\"_ _3\"></span>2, esp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ciall<span class=\"_ _3\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>is has a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>ed to retur<span class=\"_ _3\"></span>n to nor<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span>ized op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. It al<span class=\"_ _3\"></span>so has f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ema<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r our p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, mos<span class=\"_ _3\"></span>t not<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he Ent<span class=\"_ _0\"></span>erprise and E<span class=\"_ _0\"></span>ntertainment divi<span class=\"_ _0\"></span>sions. In Chi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>, the co<span class=\"_ _3\"></span>urs<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c has fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d a dif<span class=\"ls4 ws4\">-</span>ferent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>, with q<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>cker recover<span class=\"_ _1\"></span>y in 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, but sti<span class=\"_ _3\"></span>ll si<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>fic<span class=\"_ _3\"></span>ant l<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns in 2022<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e busi<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ness operations<span class=\"_ _0\"></span> and the cust<span class=\"_ _0\"></span>omer demand. In our<span class=\"_ _0\"></span> Chinese loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hygie<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c safet<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures (s<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>l dis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g, venti<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, mas<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, ho<span class=\"_ _3\"></span>mew<span class=\"_ _3\"></span>ork p<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>s) have th<span class=\"_ _3\"></span>erefore b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut 2022. D<span class=\"_ _3\"></span>esp<span class=\"_ _3\"></span>ite all m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures p<span class=\"_ _3\"></span>ut in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, at tim<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he Chi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns h<span class=\"_ _3\"></span>ave run at l<span class=\"_ _3\"></span>ower c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>acit<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>.Retaining and attractin<span class=\"_ _3\"></span>g talentTh<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c has p<span class=\"_ _3\"></span>ut m<span class=\"_ _3\"></span>ore pre<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>re on th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>r market<span class=\"_ _0\"></span> in many<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphies, with<span class=\"_ _0\"></span> higher turnov<span class=\"_ _0\"></span>er of personnel see<span class=\"_ _3\"></span>n in m<span class=\"_ _3\"></span>any se<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco. Barco has i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> its hiring<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y and emplo<span class=\"_ _0\"></span>yer branding campaigns<span class=\"_ _0\"></span> to a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tract the r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ta<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce is a<span class=\"_ _3\"></span>n increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>age l<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or cos<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tl<span class=\"_ _3\"></span>y dri<span class=\"_ _3\"></span>ven by s<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. We have cross cha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lab<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>r cost in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on ou<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ere po<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ble to ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t thi<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed cos<span class=\"_ _3\"></span>t ba<span class=\"_ _3\"></span>se.Stron<span class=\"_ _3\"></span>g fun<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g and l<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ty s<span class=\"_ _3\"></span>truc<span class=\"_ _3\"></span>ture i<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>aceBarco ha<span class=\"_ _3\"></span>s a stro<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y. We refer to note 14 for more d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on B<span class=\"_ _3\"></span>arco\u2019s net ca<span class=\"_ _3\"></span>sh p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Barco ha<span class=\"_ _3\"></span>s suf<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>nt he<span class=\"_ _3\"></span>adro<span class=\"_ _3\"></span>om to en<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le it to confor<span class=\"_ _3\"></span>m to cov<span class=\"ls4 ws4\">-</span>ena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ex<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h all re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e loa<span class=\"_ _3\"></span>n covena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le credi<span class=\"_ _3\"></span>t facili<span class=\"_ _0\"></span>ties thr<span class=\"_ _0\"></span>oughout the<span class=\"_ _0\"></span> reporting period.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure may s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l bri<span class=\"_ _3\"></span>ng so<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s of he<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>d, Barco\u2019s st<span class=\"_ _3\"></span>rong f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>ure in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce sho<span class=\"_ _3\"></span>uld be m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an su<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fici<span class=\"_ _3\"></span>ent to en<span class=\"_ _3\"></span>sure th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g conce<span class=\"_ _3\"></span>rn of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any. In ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, we refer to note 8 w<span class=\"_ _3\"></span>here w<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n how we te<span class=\"_ _3\"></span>sted g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ll oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s for imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d con<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>ded n<span class=\"_ _3\"></span>o im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es ne<span class=\"_ _3\"></span>ed to b<span class=\"_ _3\"></span>erec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed.Key sour<span class=\"_ _3\"></span>ces of e<span class=\"_ _3\"></span>stim<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n unc<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>yUn<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s: The G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p revie<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>eir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osi-tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd in t<span class=\"_ _3\"></span>he t<span class=\"_ _3\"></span>ax f<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ngs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In a<span class=\"_ _3\"></span>ddit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ow iss<span class=\"_ _3\"></span>ues t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span><span class=\"ws4\">-</span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be re<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ved. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t, a D<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent th<span class=\"_ _3\"></span>at it is pr<span class=\"_ _0\"></span>obable that fut<span class=\"_ _0\"></span>ure taxable<span class=\"_ _0\"></span> profit will<span class=\"_ _0\"></span> be available against<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s can b<span class=\"_ _3\"></span>e utili<span class=\"_ _0\"></span>zed. In<span class=\"_ _0\"></span> making its judgment, management<span class=\"_ _0\"></span> considers<span class=\"_ _0\"></span> ele<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategy, inclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g tax p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>unit<span class=\"_ _3\"></span>ies (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 10 \u2018Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies\u2019<span class=\"_ _3\"></span>) a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l ta<span class=\"_ _3\"></span>x laws e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted at t<span class=\"_ _3\"></span>he rep<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span> da<span class=\"_ _3\"></span>te.defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23 (see<span class=\"_ _3\"></span> note 10 \u2018D<span class=\"_ _3\"></span>efe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s\u2019).<span class=\"_ _24\"> </span>Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll: th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y or mo<span class=\"_ _3\"></span>re freq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly if t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re are ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns t<span class=\"_ _3\"></span>hat go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll mi<span class=\"_ _3\"></span>ght b<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>red (se<span class=\"_ _3\"></span>e note 8 \u2019Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>\u2019<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter of 2022<span class=\"_ _3\"></span>, did n<span class=\"_ _3\"></span>ot res<span class=\"_ _3\"></span>ult in a<span class=\"_ _3\"></span>n impa<span class=\"_ _3\"></span>irme<span class=\"_ _3\"></span>nt loss.<span class=\"_ _141\"> </span>Wr<span class=\"_ _3\"></span>ite off<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s: Inventor<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er of cost o<span class=\"_ _3\"></span>r net rea<span class=\"_ _3\"></span>liz<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>an<span class=\"_ _3\"></span>ce for slow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovin<span class=\"_ _3\"></span>g inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent<span class=\"_ _3\"></span>ly ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>end o<span class=\"_ _3\"></span>n bo<span class=\"_ _3\"></span>th his<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l an<span class=\"_ _3\"></span>d fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d, of w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the l<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>ter is su<span class=\"_ _3\"></span>bje<span class=\"_ _3\"></span>ct to un<span class=\"_ _3\"></span>cer<span class=\"ls4 ws4\">-</span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y du<span class=\"_ _3\"></span>e to rap<span class=\"_ _3\"></span>id tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. On to<span class=\"_ _3\"></span>p of th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>re seve<span class=\"_ _3\"></span>re rul<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in c<span class=\"_ _3\"></span>ase of for exa<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to stop a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it or p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g invento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y on h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d is in th<span class=\"_ _3\"></span>at ca<span class=\"_ _3\"></span>se analyzed<span class=\"_ _0\"></span> and reserved as<span class=\"_ _0\"></span> appropriate<span class=\"_ _0\"></span>. Inven<span class=\"_ _0\"></span>tor<span class=\"_ _3\"></span>y allo<span class=\"_ _0\"></span>wances are on<span class=\"_ _3\"></span>ly rever<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ru<span class=\"_ _3\"></span>les n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ap<span class=\"_ _3\"></span>ply or th<span class=\"_ _3\"></span>e wr<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ten of<span class=\"_ _3\"></span>f inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s sol<span class=\"_ _3\"></span>d or scr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d (see n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>2 '<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>to<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>'<span class=\"_ _1\"></span>).<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. Acco<span class=\"_ _0\"></span>unting t<span class=\"_ _0\"></span>reatment<span class=\"_ _0\"></span> of dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesSh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ter li<span class=\"_ _3\"></span>fe cycle<span class=\"_ _3\"></span>s, u<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>redi<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch de<span class=\"_ _3\"></span>velo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e su<span class=\"_ _3\"></span>ccess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e vol<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es (mo<span class=\"_ _3\"></span>re an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt) a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tes led t<span class=\"_ _3\"></span>he B<span class=\"_ _3\"></span>oard of D<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s to conclu<span class=\"_ _3\"></span>de th<span class=\"_ _3\"></span>at Ba<span class=\"_ _3\"></span>rco\u2019s deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses d<span class=\"_ _3\"></span>o not m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. As<span class=\"_ _3\"></span> the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57 are n<span class=\"_ _3\"></span>ot fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d, o<span class=\"_ _3\"></span>ur accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cy, wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>s not all<span class=\"_ _3\"></span>ow the c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s. Defined benefit<span class=\"_ _0\"></span> obligationsTh<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an (se<span class=\"_ _3\"></span>e note 19) an<span class=\"_ _3\"></span>d the p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re deter<span class=\"ls4 ws4\">-</span>mined us<span class=\"_ _0\"></span>ing actuarial<span class=\"_ _0\"></span> valuations. An<span class=\"_ _0\"></span> actuarial valu<span class=\"_ _0\"></span>ation inv<span class=\"_ _0\"></span>olves making v<span class=\"_ _0\"></span>arious assump<span class=\"_ _0\"></span>tions that<span class=\"_ _0\"></span> may di<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fer fr<span class=\"_ _0\"></span>om actual<span class=\"_ _0\"></span> devel<span class=\"ls4 ws4\">-</span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion of the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate, f<span class=\"_ _3\"></span>uture s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rate<span class=\"_ _3\"></span>s and fut<span class=\"_ _3\"></span>ure pe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lexi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s invo<span class=\"_ _3\"></span>lved i<span class=\"_ _3\"></span>n the v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term n<span class=\"_ _3\"></span>ature, a d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is hig<span class=\"_ _3\"></span>hly s<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ve to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. All a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns are rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>ed on re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date.Ke<span class=\"_ _0\"></span>y assumptions used in<span class=\"_ _0\"></span> value-in-use cal<span class=\"_ _0\"></span>culationsTh<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>-i<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>use for a<span class=\"_ _3\"></span>ll ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit<span class=\"_ _3\"></span>s is mos<span class=\"_ _3\"></span>t se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>ive to th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns:\u2022 <span class=\"_ _141\"> </span>S<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d dur<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d;\u2022 EBIT<span class=\"_ _3\"></span>DA; \u2022 <span class=\"_ _2a\"> </span>Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to extr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate cash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he budget period<span class=\"_ _0\"></span>;\u2022 <span class=\"_ _141\"> </span>D<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate;Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re show<span class=\"_ _3\"></span>n in b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le:Healt<span class=\"_ _0\"></span>hcare<span class=\"_ _14b\"> </span><span class=\"ls16 ws1f\">Enterprise<span class=\"_ _55\"> </span><span class=\"ls1f ws29\">Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inme<span class=\"_ _3\"></span>nt</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d<span class=\"_ _24e\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _24f\"> </span>11.<span class=\"_ _3\"></span>2%<span class=\"_ _6e\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>1.<span class=\"_ _3\"></span>4%<span class=\"_ _235\"> </span><span class=\"lsfc ws119\">9.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%</span></span>Gro<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>tes<span class=\"_ _250\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _80\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%<span class=\"_ _6e\"> </span>10.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _70\"> </span>10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%</span>Sal<span class=\"_ _3\"></span>es gr<span class=\"_ _3\"></span>owth r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d duri<span class=\"_ _3\"></span>ng the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>riod<span class=\"ff4 ls4d wsa1\"> \u2013 S<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> </span>grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate used ov<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od ha<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>en kep<span class=\"_ _3\"></span>t conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>ly at zero pe<span class=\"_ _3\"></span>rcent for al<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its<span class=\"_ _3\"></span>, sin<span class=\"_ _3\"></span>ce even th<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no ri<span class=\"_ _3\"></span>sk for i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. EBITDA a<span class=\"_ _3\"></span>s per<span class=\"_ _3\"></span>cent<span class=\"_ _3\"></span>age of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls28\"> <span class=\"_ _0\"></span>\u2013 EBI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>DA as pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s </span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree yea<span class=\"_ _3\"></span>rs p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cedi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f the b<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d for a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ke<span class=\"_ _3\"></span>pt cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ativ<span class=\"_ _3\"></span>ely f<span class=\"_ _3\"></span>lat ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ere as of 2024, the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>et back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA level<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he 2019 EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>% (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) it is m<span class=\"_ _3\"></span>ore real<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic to ta<span class=\"_ _3\"></span>ke the p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA leve<span class=\"_ _3\"></span>l of 2019 (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) as of 2024.Grow<span class=\"_ _3\"></span>th rate estim<span class=\"_ _3\"></span>ates<span class=\"ff4 ls2a ws39\"> \u2013 The lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>late </span>the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n kept con<span class=\"_ _3\"></span>ser<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely at zero % for a<span class=\"_ _3\"></span>ll cash-<span class=\"_ _3\"></span>generating uni<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s.Disco<span class=\"_ _3\"></span>unt rate \u2013 Dis<span class=\"_ _3\"></span>coun<span class=\"_ _3\"></span>t rate refl<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic to Ba<span class=\"_ _3\"></span>rco Group<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>count rate wa<span class=\"_ _3\"></span>s est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a (lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm) pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x cost of ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>ein<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>cit in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. It w<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n grou<span class=\"_ _3\"></span>p leve<span class=\"_ _3\"></span>l.Sensitivity to<span class=\"_ _0\"></span> changes in assumptionsPer 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, on<span class=\"_ _3\"></span>ly a ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>e in EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n could re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt a<span class=\"_ _3\"></span>re discu<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>elow<span class=\"_ _3\"></span>:EBITDA p<span class=\"_ _3\"></span>erc<span class=\"_ _3\"></span>enta<span class=\"_ _3\"></span>ge on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls20 ws38\"> \u2013 Management has<span class=\"_ _0\"></span> consider<span class=\"_ _0\"></span>ed </span>the p<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y of lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted EBI<span class=\"_ _3\"></span>TDA p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s. For H<span class=\"_ _3\"></span>ealth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a re<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ast ye<span class=\"_ _3\"></span>ar of t<span class=\"_ _3\"></span>he pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vely m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 7<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, 7% a<span class=\"_ _3\"></span>nd 4% wo<span class=\"_ _3\"></span>uld re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n an impairment. Disco<span class=\"_ _3\"></span>unt rates<span class=\"ff4 ls2e wse\"> \u2013 Management<span class=\"_ _0\"></span> has c<span class=\"_ _0\"></span>onsidered<span class=\"_ _0\"></span> the possibil<span class=\"ls4 ws4\">-</span></span>it<span class=\"_ _3\"></span>y of a si<span class=\"_ _3\"></span>gnif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er we<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e cost to tes<span class=\"_ _3\"></span>t the sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y. For no<span class=\"_ _3\"></span>ne o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s this l<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>s to an im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate estim<span class=\"_ _3\"></span>ate (beyo<span class=\"_ _3\"></span>nd the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d)<span class=\"ff4 ws39\"> \u2013 For al<span class=\"_ _3\"></span>l </span>div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, no rea<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate, use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, wo<span class=\"_ _3\"></span>uld res<span class=\"_ _3\"></span>ult in an impairment.In as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>heth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>t is prob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>at so<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l of the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>alized w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>in th<span class=\"_ _3\"></span>e fores<span class=\"_ _3\"></span>eea<span class=\"_ _3\"></span>ble fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he ult<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>te realizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s is de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nt up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit d<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e periods in<span class=\"_ _0\"></span> which those<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences bec<span class=\"_ _0\"></span>om<span class=\"_ _3\"></span>e deduct<span class=\"_ _0\"></span><span class=\"ls4 ws4\">-</span>ible. M<span class=\"_ _0\"></span>anagem<span class=\"_ _3\"></span>ent c<span class=\"_ _0\"></span>onsiders the s<span class=\"_ _0\"></span>cheduled re<span class=\"_ _0\"></span>versal of de<span class=\"_ _0\"></span>ferred ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>eab<span class=\"_ _3\"></span>le ta<span class=\"_ _3\"></span>x event<span class=\"_ _3\"></span>s in m<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>his as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n fu<span class=\"_ _3\"></span>ture t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit w<span class=\"_ _3\"></span>as fa<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>red in i<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span> reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. A tim<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od of 5 yea<span class=\"_ _3\"></span>rs is co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>dere<span class=\"_ _3\"></span>d. In 2022 w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized as e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le at 0.7<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2021<span class=\"_ _3\"></span>.In 2020, wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs we<span class=\"_ _3\"></span>re imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic an<span class=\"_ _3\"></span>d resu<span class=\"_ _3\"></span>lted in hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized as ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse (1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 1.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les). Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-9": {
   "value": "4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-10": {
   "value": "4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-11": {
   "value": "4. Other intangible assetsIntangible assets acquired separately are capitalized at cost.Intangible assets acquired as part of a business combination are capitalized at fair value separately from goodwill if the fair value can be measured reliably upon initial recognition and are amortized over their economic lifetimes. Other intangible assets are amortized on a straight-line basis not exceeding 7 years.5. Property, plant and equipmentProperty, plant and equipment are stated at cost less accu-mulated depreciation and accumulated impairment losses. Generally, depreciation is computed on a straight-line basis over the estimated useful life of the asset. When there is an indication that the item of property, plant and equipment is impaired, the carrying amounts are reviewed to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount.Estimated useful life is:- buildings  20 years- installations  10 years-  production machinery   5 years-  measurement equipment  4 years-  tools and models  3 years- furniture  10 years-  office equipment  5 years-  computer equipment  3 years- vehicles  5 years-  demo material  1 to 3 years-  leasehold improvements and finance leases: cfr underlying asset, limited to outstanding period of lease contractA property, plant or equipment item is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recog-nition of the asset is included in profit or loss in the year the asset is derecognized.6. LeasesAssets, representing the right to use the underlying leased asset, are capitalized as property, plant and equipment at cost, comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commence-ment date less any lease incentives received, any initial direct costs and restoration costs. The corresponding lease liabilities, representing the net present value of the lease payments, are recognized as long-term or current liabilities depending on the period in which they are due. Leased assets and liabilities are recognized for all leases with a term of more than 12 months, unless the underlying asset is of low value. The lease payments are discounted using the lessee\u2019s incre-mental borrowing rate, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. The interest rate implicit in the lease could not be determined.Lease interest is charged to the income statement as an inter-est expense.Leased assets are depreciated, using straight-line depreciation over the lease term, including the period of renewable options, in case it is probable that the option will be exercised.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-16-4": {
   "value": "5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.9<span class=\"_ _0\"></span>.2. T<span class=\"_ _0\"></span>angible fixed assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _253\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _63\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Furniture,<span class=\"_ _0\"></span> Pl<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>, of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>OtherLa<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y and eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt  pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ty, pl<span class=\"_ _3\"></span>ant A<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al O<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r buildingsequi<span class=\"_ _3\"></span>pmentand vehicl<span class=\"_ _0\"></span>esand equipmentconstructi<span class=\"_ _0\"></span>ontangible assets<span class=\"_ _8e\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _7b\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19e\"> </span>138,155<span class=\"_ _43\"> </span><span class=\"ls19c ws271\">8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>6<span class=\"_ _4\"> </span>4<span class=\"_ _6e\"> </span><span class=\"lsed ws10a\">42,217<span class=\"_ _43\"> </span><span class=\"ls109 ws126\">12,586<span class=\"_ _1a4\"> </span><span class=\"lsda wsf7\">3,794<span class=\"_ _178\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>62<span class=\"_ _178\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _151\"> </span></span></span></span></span></span>2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4e\"> </span><span class=\"lsdd wsfa\">276<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>2</span></span>Expenditure*<span class=\"_ _254\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>39<span class=\"_ _6c\"> </span><span class=\"lsf0 ws10d\">6<span class=\"_ _3\"></span>,429<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">1,099<span class=\"_ _76\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _40\"> </span></span>22,383<span class=\"_ _54\"> </span><span class=\"ls138 ws167\">30,020<span class=\"_ _43\"> </span></span></span></span></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _ff\"> </span><span class=\"lsde wsfb\">26,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _109\"> </span>-14<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span>-6<span class=\"_ _3\"></span>,790<span class=\"_ _70\"> </span>-4,<span class=\"_ _3\"></span>822<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _8d\"> </span></span>-<span class=\"_ _10c\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>95<span class=\"_ _178\"> </span>-28,<span class=\"_ _3\"></span>03<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,614<span class=\"_ _3d\"> </span><span class=\"lse7 ws104\">-29,8<span class=\"_ _3\"></span>47</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a5\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">2,533<span class=\"_ _67\"> </span><span class=\"lsfe ws11b\">3<span class=\"_ _3\"></span>45<span class=\"_ _76\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,936<span class=\"_ _10\"> </span></span>-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>082<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _8d\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>227<span class=\"_ _73\"> </span>-9<span class=\"_ _3\"></span>81<span class=\"_ _de\"> </span>-83<span class=\"_ _16b\"> </span>-1<span class=\"_ _1\"></span>24<span class=\"_ _7e\"> </span>-9<span class=\"_ _3\"></span>0<span class=\"_ _71\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>27<span class=\"_ _1\"></span>7<span class=\"_ _6e\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>50<span class=\"_ _235\"> </span><span class=\"lsea ws107\">6<span class=\"_ _3\"></span>,786<span class=\"_ _ff\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>3</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>32,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _40\"> </span><span class=\"ls3c ws48\">87<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>566<span class=\"_ _10c\"> </span><span class=\"ls109 ws126\">4<span class=\"_ _3\"></span>4,086<span class=\"_ _40\"> </span><span class=\"ls190 ws254\">13,813<span class=\"_ _6c\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"ls10e ws12b\">15<span class=\"_ _3\"></span>2,70<span class=\"_ _3\"></span>4<span class=\"_ _46\"> </span><span class=\"lsea ws107\">285,<span class=\"_ _3\"></span>253<span class=\"_ _3a\"> </span></span></span></span></span></span>284,317<span class=\"_ _52\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _126\"> </span>59,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>3<span class=\"_ _10\"> </span>57<span class=\"_ _0\"></span>,850<span class=\"_ _10\"> </span>3<span class=\"_ _3\"></span>0,187<span class=\"_ _68\"> </span>9,8<span class=\"_ _3\"></span>40<span class=\"_ _8d\"> </span>-<span class=\"_ _70\"> </span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _ff\"> </span>1<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _178\"> </span><span class=\"lsed ws10a\">14<span class=\"_ _0\"></span>3,630<span class=\"_ _3d\"> </span><span class=\"lsdc wsf9\">141,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>93</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _123\"> </span>11,2<span class=\"_ _0\"></span>42<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _76\"> </span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>39<span class=\"_ _235\"> </span>1,0<span class=\"_ _3\"></span>68<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span></span>1<span class=\"_ _3\"></span>5,052<span class=\"_ _94\"> </span><span class=\"lsf0 ws10d\">26,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"ls103 ws120\">26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _4b\"> </span></span>26<span class=\"_ _3\"></span>,495</span>Impairment<span class=\"_ _1b5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _60\"> </span><span class=\"lsfb ws118\">5,757</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _2d\"> </span>-<span class=\"_ _3\"></span>8,135<span class=\"_ _7b\"> </span>-<span class=\"_ _1\"></span>6,<span class=\"_ _3\"></span>731<span class=\"_ _255\"> </span>-4,<span class=\"_ _3\"></span>589<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _1fc\"> </span></span>-<span class=\"_ _151\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>02<span class=\"_ _54\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span></span>-1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>787<span class=\"_ _50\"> </span><span class=\"lsf0 ws10d\">-26,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _159\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"ls109 ws126\">22<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _de\"> </span><span class=\"ls42 ws6f\">-50<span class=\"_ _1fc\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>212<span class=\"_ _65\"> </span>-2<span class=\"_ _3\"></span>34<span class=\"_ _b0\"> </span>-75<span class=\"_ _e1\"> </span><span class=\"lsda wsf7\">-94<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">-4<span class=\"_ _3\"></span>03<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-191<span class=\"_ _6c\"> </span></span></span></span>3,<span class=\"_ _3\"></span>546<span class=\"_ _10c\"> </span><span class=\"ls4 ws4\">-3<span class=\"_ _3\"></span>,669</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _31\"> </span>62,872<span class=\"_ _43\"> </span>58,<span class=\"_ _3\"></span>751<span class=\"_ _94\"> </span>31<span class=\"_ _3\"></span>,690<span class=\"_ _68\"> </span><span class=\"lse7 ws104\">9,0<span class=\"_ _3\"></span>82<span class=\"_ _b\"> </span></span>-<span class=\"_ _94\"> </span>9<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>23<span class=\"_ _36\"> </span>162<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>96<span class=\"_ _1a8\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1aa\"> </span><span class=\"lsfc ws119\">143<span class=\"_ _3\"></span>,63<span class=\"_ _3\"></span>0</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _11b\"> </span>78,6<span class=\"_ _3\"></span>02<span class=\"_ _43\"> </span>2<span class=\"_ _3\"></span>9,71<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>031<span class=\"_ _235\"> </span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span>3,79<span class=\"_ _3\"></span>4<span class=\"_ _9c\"> </span>48<span class=\"_ _3\"></span>,28<span class=\"_ _3\"></span>5<span class=\"_ _46\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>,88<span class=\"_ _3\"></span>7<span class=\"_ _3a\"> </span><span class=\"ls36 ws40\">123,47<span class=\"_ _0\"></span>4<span class=\"_ _fe\"> </span><span class=\"lsee ws10b\">13<span class=\"_ _3\"></span>5,469</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b3\"> </span>69,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>7<span class=\"_ _40\"> </span>28,815<span class=\"_ _54\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>396<span class=\"_ _8e\"> </span>4,7<span class=\"_ _3\"></span>31<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _70\"> </span>53,181<span class=\"_ _36\"> </span>122,856<span class=\"_ _3d\"> </span><span class=\"ls10e ws12b\">126<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>86<span class=\"_ _52\"> </span><span class=\"ls36 ws40\">123,473</span></span>(*) E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns fo<span class=\"_ _3\"></span>r IF<span class=\"_ _3\"></span>RS16<span class=\"_ _3\"></span>. Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ndit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in 2022<span class=\"_ _3\"></span>, exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g the<span class=\"_ _3\"></span> imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of IFRS<span class=\"_ _3\"></span>16, am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 19 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in 2022 con<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>urch<span class=\"_ _3\"></span>ase of l<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>w fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n Chin<span class=\"_ _3\"></span>a, Wux<span class=\"_ _3\"></span>i (4 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d rene<span class=\"_ _3\"></span>wal o<span class=\"_ _3\"></span>f dem<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce center<span class=\"_ _3\"></span>s (2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. I<span class=\"_ _3\"></span>n 2021<span class=\"_ _3\"></span>, maj<span class=\"_ _3\"></span>or c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ex con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>he new fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span> China, Su<span class=\"_ _0\"></span>zhou, both<span class=\"_ _0\"></span> facility and<span class=\"_ _0\"></span> production rela<span class=\"_ _3\"></span>ted (2021: 8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2020: 3.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro). Othe<span class=\"_ _3\"></span>r fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d cap<span class=\"_ _3\"></span>ex i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are la<span class=\"_ _3\"></span>b in N<span class=\"_ _3\"></span>oid<span class=\"_ _3\"></span>a (1<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d he<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g, ve<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>irco inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Kor<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk a<span class=\"_ _3\"></span>nd D<span class=\"_ _3\"></span>ulu<span class=\"_ _3\"></span>th fa<span class=\"_ _3\"></span>cili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>.1 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro).In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e mach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd too<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g lin<span class=\"_ _3\"></span>ked to new p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts (<span class=\"_ _3\"></span>2022: 2 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2021: 2.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 3.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), I<span class=\"_ _3\"></span>T hard<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ware e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (<span class=\"_ _3\"></span>2022: 2.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: 2.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2020: 1.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and l<span class=\"_ _3\"></span>easi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ith cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s (2022: 3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).Th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xed as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t, rea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ized in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2015 \u2013 201<span class=\"_ _3\"></span>9, relates to th<span class=\"_ _3\"></span>e hea<span class=\"_ _3\"></span>dq<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>rs of Ba<span class=\"_ _3\"></span>rco and th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r 50 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro. T<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k valu<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>r 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 29.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro.Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ure for t<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s in 2022 e<span class=\"_ _3\"></span>qua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s the EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy e<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le C<span class=\"_ _3\"></span>apE<span class=\"_ _3\"></span>x as t<span class=\"_ _3\"></span>he tot<span class=\"_ _3\"></span>al am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of Ca<span class=\"_ _3\"></span>pE<span class=\"_ _3\"></span>X rel<span class=\"_ _3\"></span>ates so<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>ly to ass<span class=\"_ _3\"></span>ets o<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ciated w<span class=\"_ _3\"></span>ith Ba<span class=\"_ _3\"></span>rco econo<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed in s<span class=\"_ _3\"></span>ect<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n \u201cT<span class=\"_ _0\"></span>axonom<span class=\"_ _0\"></span>y-<span class=\"_ _3\"></span>eligible ec<span class=\"_ _0\"></span>onomic activi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y - T<span class=\"_ _2\"></span>urnov<span class=\"_ _0\"></span>er\u201d<span class=\"_ _0\"></span>.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>late to th<span class=\"_ _3\"></span>e sal<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e bui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng in No<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ad a n<span class=\"_ _3\"></span>et bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of 4.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>ls re<span class=\"_ _3\"></span>late to old m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y &amp; eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>rnit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten do<span class=\"_ _3\"></span>wn.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y relate to ol<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y &amp; equ<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d fur<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten dow<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le of p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he la<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>g in K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ruh<span class=\"_ _3\"></span>e.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 2020 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ate to the cl<span class=\"_ _3\"></span>osure o<span class=\"_ _3\"></span>f the T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>y, toget<span class=\"_ _3\"></span>her w<span class=\"_ _3\"></span>ith o<span class=\"_ _3\"></span>ld ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>se U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d hal<span class=\"_ _3\"></span>f of 2020 resulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f 5.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>lated to t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>chi<span class=\"_ _3\"></span>ner<span class=\"_ _1\"></span>y an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t (see n<span class=\"_ _3\"></span>ote 5 'Re<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'). Th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re was li<span class=\"_ _3\"></span>nked to the d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n to out<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rce the U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM pane<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>red th<span class=\"_ _3\"></span>e pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>co<span class=\"ls4 ws4\">-</span>no<span class=\"_ _3\"></span>mic i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the u<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s of it<span class=\"_ _3\"></span>s fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent of it<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>achi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is di<span class=\"_ _3\"></span>d not co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. See \u2018C<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accou<span class=\"_ _3\"></span>nt<span class=\"ls4 ws4\">-</span>ing j<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and ke<span class=\"_ _3\"></span>y sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic envir<span class=\"_ _0\"></span>onment on Bar<span class=\"_ _0\"></span>co\u2019<span class=\"_ _0\"></span>s operations.21. Rights and commitments not reflected in the balance sheetIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _22d\"> </span>Note<span class=\"_ _6e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020</span>Guarantees<span class=\"_ _0\"></span> given to<span class=\"_ _0\"></span> third parties<span class=\"_ _23a\"> </span>(a)<span class=\"_ _255\"> </span>3,594<span class=\"_ _6e\"> </span>3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>474<span class=\"_ _8c\"> </span><span class=\"ls4 ws28c\"> <span class=\"_ _8\"> </span>3,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>0    </span>Mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tga<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s gi<span class=\"_ _3\"></span>ven a<span class=\"_ _3\"></span>s se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _2bb\"> </span>(b)<span class=\"_ _46\"> </span>30<span class=\"_ _0\"></span>,000<span class=\"_ _3d\"> </span>30,000<span class=\"_ _1aa\"> </span><span class=\"ws28d\"> <span class=\"_ _8\"> </span>30,<span class=\"_ _0\"></span>000    </span>   Bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _22c\"> </span>29,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>39<span class=\"_ _1a8\"> </span><span class=\"ls138 ws167\">33<span class=\"_ _3\"></span>,029<span class=\"_ _46\"> </span></span><span class=\"ws28c\"> <span class=\"_ _8\"> </span>36<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>27    </span>(a) <span class=\"_ _1\"></span>G<span class=\"_ _3\"></span>uarant<span class=\"_ _0\"></span>ees given t<span class=\"_ _0\"></span>o third<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>ties mainly<span class=\"_ _0\"></span> relate<span class=\"_ _0\"></span> to guaran<span class=\"_ _0\"></span>tees given<span class=\"_ _0\"></span> to cu<span class=\"_ _0\"></span>stomers f<span class=\"_ _0\"></span>or ongoing projects, guarant<span class=\"_ _0\"></span>ees given<span class=\"_ _0\"></span> to sup<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s for inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd to au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s for comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to VA<span class=\"_ _2\"></span>T, dutie<span class=\"_ _3\"></span>s, etc. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-16-10": {
   "value": "5. Property, plant and equipmentProperty, plant and equipment are stated at cost less accu-mulated depreciation and accumulated impairment losses. Generally, depreciation is computed on a straight-line basis over the estimated useful life of the asset. When there is an indication that the item of property, plant and equipment is impaired, the carrying amounts are reviewed to assess whether they are recorded in excess of their recoverable amounts, and where carrying values exceed this estimated recoverable amount, assets are written down to their recoverable amount.Estimated useful life is:- buildings  20 years- installations  10 years-  production machinery   5 years-  measurement equipment  4 years-  tools and models  3 years- furniture  10 years-  office equipment  5 years-  computer equipment  3 years- vehicles  5 years-  demo material  1 to 3 years-  leasehold improvements and finance leases: cfr underlying asset, limited to outstanding period of lease contractA property, plant or equipment item is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recog-nition of the asset is included in profit or loss in the year the asset is derecognized.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-5": {
   "value": "6. LeasesAssets, representing the right to use the underlying leased asset, are capitalized as property, plant and equipment at cost, comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commence-ment date less any lease incentives received, any initial direct costs and restoration costs. The corresponding lease liabilities, representing the net present value of the lease payments, are recognized as long-term or current liabilities depending on the period in which they are due. Leased assets and liabilities are recognized for all leases with a term of more than 12 months, unless the underlying asset is of low value. The lease payments are discounted using the lessee\u2019s incre-mental borrowing rate, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. The interest rate implicit in the lease could not be determined.Lease interest is charged to the income statement as an inter-est expense.Leased assets are depreciated, using straight-line depreciation over the lease term, including the period of renewable options, in case it is probable that the option will be exercised.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-6": {
   "value": "6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-7": {
   "value": "6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.7<span class=\"_ _2\"></span>. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re treated as f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e and a<span class=\"_ _3\"></span>re ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on given. Sub<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed at m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. For i<span class=\"_ _3\"></span>nvest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s quo<span class=\"_ _3\"></span>ted in an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>. For inv<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s not q<span class=\"_ _3\"></span>uote<span class=\"_ _3\"></span>d in an a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is t<span class=\"_ _3\"></span>he his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>cal cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, if a reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of the f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ot be m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e. An i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>hen t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng amount ex<span class=\"_ _0\"></span>ceeds t<span class=\"_ _0\"></span>he estimated<span class=\"_ _0\"></span> reco<span class=\"_ _0\"></span>verable amount. These<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re prese<span class=\"_ _3\"></span>nted o<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et on th<span class=\"_ _3\"></span>e li<span class=\"_ _3\"></span>ne \u2018Investments and<span class=\"_ _0\"></span> inter<span class=\"_ _0\"></span>est in associ<span class=\"_ _0\"></span>ates<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>.Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>t ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n in exces<span class=\"_ _3\"></span>s of 3 m<span class=\"_ _3\"></span>onth<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are inten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to be he<span class=\"_ _3\"></span>ld to matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y le<span class=\"_ _3\"></span>ss t<span class=\"_ _3\"></span>han o<span class=\"_ _3\"></span>ne ye<span class=\"_ _3\"></span>ar (so<span class=\"_ _3\"></span>lel<span class=\"_ _3\"></span>y paym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of pr<span class=\"_ _3\"></span>inci<span class=\"_ _3\"></span>ple an<span class=\"_ _3\"></span>d interes<span class=\"_ _3\"></span>t). T<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated reven<span class=\"_ _3\"></span>ue in i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t inco<span class=\"_ _3\"></span>me.8. Other non-current assetsOt<span class=\"_ _3\"></span>her n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>t ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m intere<span class=\"_ _3\"></span>st-<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng rec<span class=\"_ _0\"></span>eivables and cash<span class=\"_ _0\"></span> guarantees. S<span class=\"_ _0\"></span>uch long-term r<span class=\"_ _0\"></span>eceivables are accou<span class=\"_ _3\"></span>nted for a<span class=\"_ _3\"></span>s loa<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>ated by th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>nd are c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. A<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt exce<span class=\"_ _3\"></span>eds t<span class=\"_ _3\"></span>he es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated rec<span class=\"_ _0\"></span>overable amoun<span class=\"_ _0\"></span>t.9<span class=\"_ _0\"></span>. Financial assetsTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es it<span class=\"_ _3\"></span>s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>eg<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>es: fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds on t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>\u2019s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el for m<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>agi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l terms of t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. Ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>es the c<span class=\"_ _3\"></span>las<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>t init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Regular pur<span class=\"_ _0\"></span>chases and<span class=\"_ _0\"></span> sales of financ<span class=\"_ _0\"></span>ial assets ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>gniz<span class=\"_ _0\"></span>ed on th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e date \u2013 th<span class=\"_ _3\"></span>e date on w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p comm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to pu<span class=\"_ _3\"></span>rchase o<span class=\"_ _3\"></span>r sel<span class=\"_ _3\"></span>l an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>.At in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l recog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et at it<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>lus<span class=\"_ _3\"></span>, in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et not a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it or l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at are d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anc<span class=\"_ _3\"></span>ial as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (su<span class=\"_ _3\"></span>ch as lo<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d cash e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ts) are s<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>entl<span class=\"_ _3\"></span>y mea<span class=\"_ _3\"></span>sured a<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized<span class=\"_ _3\"></span> cost us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>y are he<span class=\"_ _3\"></span>ld for co<span class=\"_ _3\"></span>llec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>al ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt sol<span class=\"_ _3\"></span>ely p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>.T<span class=\"_ _2\"></span>rade and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _0\"></span> af<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span> and within one<span class=\"_ _0\"></span> year ar<span class=\"_ _0\"></span>e recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue an<span class=\"_ _3\"></span>d su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, i<span class=\"_ _3\"></span>.e. at t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>t pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces fo<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s on a for<span class=\"ls4 ws4\">-</span>ward<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>asis t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>oss as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. Fo<span class=\"_ _3\"></span>r tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he si<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lifi<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roach p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted by I<span class=\"_ _3\"></span>FRS 9 Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich req<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>s exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifeti<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s to be reco<span class=\"_ _3\"></span>gnized f<span class=\"_ _3\"></span>rom in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce is de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of the a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d is recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span> within<span class=\"_ _0\"></span> other operating inc<span class=\"_ _0\"></span>ome. 13. T<span class=\"_ _18\"></span>rade debtors and other amounts receivableT<span class=\"_ _2\"></span>rade debtors<span class=\"_ _0\"></span> and other amounts r<span class=\"_ _0\"></span>eceivable ar<span class=\"_ _0\"></span>e shown<span class=\"_ _0\"></span> on the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce shee<span class=\"_ _3\"></span>t at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t (in ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l, th<span class=\"_ _3\"></span>e or<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>nal am<span class=\"_ _3\"></span>ount i<span class=\"_ _3\"></span>nvoi<span class=\"_ _3\"></span>ced) le<span class=\"_ _3\"></span>ss an a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts a<span class=\"_ _3\"></span>nd les<span class=\"_ _3\"></span>s an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt for ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted cre<span class=\"_ _3\"></span>dit lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>s recorde<span class=\"_ _3\"></span>d in o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en it is p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny wi<span class=\"_ _3\"></span>ll no<span class=\"_ _3\"></span>t be a<span class=\"_ _3\"></span>ble to col<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t all a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s due<span class=\"_ _3\"></span>. All<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re calcu<span class=\"_ _3\"></span>lated o<span class=\"_ _3\"></span>n an i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>is, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on an a<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. For th<span class=\"_ _3\"></span>e dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on of the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>imp<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch an<span class=\"_ _3\"></span>d records li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>.14<span class=\"_ _0\"></span>. Cash and cash equivalentsCas<span class=\"_ _3\"></span>h an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h eq<span class=\"_ _3\"></span>uiv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s consi<span class=\"_ _3\"></span>st of c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ba<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ances<span class=\"_ _0\"></span> with banks and s<span class=\"_ _0\"></span>hor<span class=\"_ _3\"></span>t-term<span class=\"_ _0\"></span> investments wi<span class=\"_ _0\"></span>th an original<span class=\"_ _0\"></span> matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>ate or no<span class=\"_ _3\"></span>tice p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths o<span class=\"_ _3\"></span>r les<span class=\"_ _3\"></span>s. It i<span class=\"_ _3\"></span>s the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y to hol<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s to mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y. All i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e cost at recog<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ate. 17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.18. T<span class=\"_ _18\"></span>rade and other payablesT<span class=\"_ _0\"></span>rad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h is th<span class=\"_ _3\"></span>e cost at reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>his is a<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue. 22. Derivative financial instrumentsDerivative<span class=\"_ _0\"></span> financial instruments ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed initially<span class=\"_ _0\"></span> at c<span class=\"_ _0\"></span>ost, whi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>n (in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ase of an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>) or rece<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>d (in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y) fo<span class=\"_ _3\"></span>r it. S<span class=\"_ _3\"></span>ubs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>t to<span class=\"_ _0\"></span> initial r<span class=\"_ _0\"></span>ecognition, deriva<span class=\"_ _0\"></span>tive financial<span class=\"_ _0\"></span> instruments are<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ed at fai<span class=\"_ _0\"></span>r value.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>he fair<span class=\"_ _0\"></span> values of<span class=\"_ _0\"></span> derivativ<span class=\"_ _0\"></span>e int<span class=\"_ _0\"></span>erest c<span class=\"_ _0\"></span>ontracts are es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s usin<span class=\"_ _3\"></span>g cur<span class=\"_ _3\"></span>rent ma<span class=\"_ _3\"></span>rket in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d yi<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d cur<span class=\"_ _3\"></span>ve ove<span class=\"_ _3\"></span>r the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m of th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd exc<span class=\"_ _0\"></span>hange contracts is<span class=\"_ _0\"></span> estimated<span class=\"_ _0\"></span> using valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard p<span class=\"_ _3\"></span>rici<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ls at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance she<span class=\"_ _3\"></span>et date. Derivative<span class=\"_ _0\"></span> financial instruments t<span class=\"_ _0\"></span>hat are<span class=\"_ _0\"></span> either hedging instru<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re not d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ated or d<span class=\"_ _3\"></span>o not q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es are ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue w<span class=\"_ _3\"></span>ith cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the incom<span class=\"_ _3\"></span>e stateme<span class=\"_ _3\"></span>nt.Whe<span class=\"_ _3\"></span>re a de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t is de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>nated a<span class=\"_ _3\"></span>s a hed<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span> of th<span class=\"_ _3\"></span>e var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows of a reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed asse<span class=\"_ _3\"></span>t or lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, or a<span class=\"_ _0\"></span> highly pr<span class=\"_ _0\"></span>obable for<span class=\"_ _0\"></span>ecasted<span class=\"_ _0\"></span> transaction, the<span class=\"_ _0\"></span> effective<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>t of any g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r loss o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t is recog<span class=\"_ _3\"></span>nized di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tly in \u2018oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come\u2019 w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he ine<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fset a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt is repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t whe<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ere is a le<span class=\"_ _3\"></span>gal<span class=\"_ _3\"></span>ly enfo<span class=\"_ _3\"></span>rce<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ri<span class=\"_ _3\"></span>ght to of<span class=\"_ _3\"></span>fse<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n intent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to sett<span class=\"_ _3\"></span>le on a n<span class=\"_ _3\"></span>et ba<span class=\"_ _3\"></span>sis o<span class=\"_ _3\"></span>r realize th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d set<span class=\"_ _3\"></span>tle the liability simultan<span class=\"_ _3\"></span>eously<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-8": {
   "value": "6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.18. T<span class=\"_ _18\"></span>rade and other payablesT<span class=\"_ _0\"></span>rad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h is th<span class=\"_ _3\"></span>e cost at reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>his is a<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue. 22. Derivative financial instrumentsDerivative<span class=\"_ _0\"></span> financial instruments ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed initially<span class=\"_ _0\"></span> at c<span class=\"_ _0\"></span>ost, whi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>n (in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ase of an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>) or rece<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>d (in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y) fo<span class=\"_ _3\"></span>r it. S<span class=\"_ _3\"></span>ubs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>t to<span class=\"_ _0\"></span> initial r<span class=\"_ _0\"></span>ecognition, deriva<span class=\"_ _0\"></span>tive financial<span class=\"_ _0\"></span> instruments are<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ed at fai<span class=\"_ _0\"></span>r value.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>he fair<span class=\"_ _0\"></span> values of<span class=\"_ _0\"></span> derivativ<span class=\"_ _0\"></span>e int<span class=\"_ _0\"></span>erest c<span class=\"_ _0\"></span>ontracts are es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s usin<span class=\"_ _3\"></span>g cur<span class=\"_ _3\"></span>rent ma<span class=\"_ _3\"></span>rket in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d yi<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d cur<span class=\"_ _3\"></span>ve ove<span class=\"_ _3\"></span>r the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m of th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd exc<span class=\"_ _0\"></span>hange contracts is<span class=\"_ _0\"></span> estimated<span class=\"_ _0\"></span> using valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard p<span class=\"_ _3\"></span>rici<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ls at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance she<span class=\"_ _3\"></span>et date. Derivative<span class=\"_ _0\"></span> financial instruments t<span class=\"_ _0\"></span>hat are<span class=\"_ _0\"></span> either hedging instru<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re not d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ated or d<span class=\"_ _3\"></span>o not q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es are ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue w<span class=\"_ _3\"></span>ith cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the incom<span class=\"_ _3\"></span>e stateme<span class=\"_ _3\"></span>nt.Whe<span class=\"_ _3\"></span>re a de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t is de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>nated a<span class=\"_ _3\"></span>s a hed<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span> of th<span class=\"_ _3\"></span>e var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows of a reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed asse<span class=\"_ _3\"></span>t or lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, or a<span class=\"_ _0\"></span> highly pr<span class=\"_ _0\"></span>obable for<span class=\"_ _0\"></span>ecasted<span class=\"_ _0\"></span> transaction, the<span class=\"_ _0\"></span> effective<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>t of any g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r loss o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t is recog<span class=\"_ _3\"></span>nized di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tly in \u2018oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come\u2019 w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he ine<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fset a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt is repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t whe<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ere is a le<span class=\"_ _3\"></span>gal<span class=\"_ _3\"></span>ly enfo<span class=\"_ _3\"></span>rce<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ri<span class=\"_ _3\"></span>ght to of<span class=\"_ _3\"></span>fse<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n intent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to sett<span class=\"_ _3\"></span>le on a n<span class=\"_ _3\"></span>et ba<span class=\"_ _3\"></span>sis o<span class=\"_ _3\"></span>r realize th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d set<span class=\"_ _3\"></span>tle the liability simultan<span class=\"_ _3\"></span>eously<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-9": {
   "value": "6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-10": {
   "value": "6. LeasesAssets, representing the right to use the underlying leased asset, are capitalized as property, plant and equipment at cost, comprising the amount of the initial measurement of lease liability, any lease payments made at or before the commence-ment date less any lease incentives received, any initial direct costs and restoration costs. The corresponding lease liabilities, representing the net present value of the lease payments, are recognized as long-term or current liabilities depending on the period in which they are due. Leased assets and liabilities are recognized for all leases with a term of more than 12 months, unless the underlying asset is of low value. The lease payments are discounted using the lessee\u2019s incre-mental borrowing rate, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. The interest rate implicit in the lease could not be determined.Lease interest is charged to the income statement as an inter-est expense.Leased assets are depreciated, using straight-line depreciation over the lease term, including the period of renewable options, in case it is probable that the option will be exercised.Short-term investments are cash deposits with a maturity at inception in excess of 3 months and are intended to be held to maturity less than one year (solely payment of principle and interest). They are recognized at cost, with the associated revenue in interest income.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-20-5": {
   "value": "7. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInvestments are treated as financial assets at fair value through profit and loss or other comprehensive income and are initially recognized at cost, being the fair value of the consideration given. Subsequent fair value recognition through profit and loss or other comprehensive is determined at moment of initial recog-nition. For investments quoted in an active market, the quoted market price is the best measure of fair value. For investments not quoted in an active market, the carrying amount is the historical cost, if a reliable estimate of the fair value cannot be made. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount. These investments are presented on the balance sheet on the line \u2018Investments and interest in associates\u2019.Short-term investments are cash deposits with a maturity at inception in excess of 3 months and are intended to be held to maturity less than one year (solely payment of principle and interest). They are recognized at cost, with the associated revenue in interest income.9. Financial assetsThe Group classifies its financial assets in the following cat-egories: financial assets at fair value and financial assets at amortized cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition.Regular purchases and sales of financial assets are recognized on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. 22. Derivative financial instrumentsDerivative financial instruments are recognized initially at cost, which is the fair value of the consideration given (in the case of an asset) or received (in the case of a liability) for it. Subsequent to initial recognition, derivative financial instruments are stated at fair value. The fair values of derivative interest contracts are estimated by discounting expected future cash flows using current market interest rates and yield curve over the remaining term of the instrument. The fair value of forward exchange contracts is estimated using valuation techniques which include forward pricing and swap models at the balance sheet date. Derivative financial instruments that are either hedging instru-ments that are not designated or do not qualify as hedges are carried at fair value with changes in value included in the income statement.Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability, or a highly probable forecasted transaction, the effective part of any gain or loss on the derivative financial instrument is recognized directly in \u2018other comprehensive income\u2019 with the ineffective part recognized directly in profit and loss.Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-20-6": {
   "value": "7. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInvestments are treated as financial assets at fair value through profit and loss or other comprehensive income and are initially recognized at cost, being the fair value of the consideration given. Subsequent fair value recognition through profit and loss or other comprehensive is determined at moment of initial recog-nition. For investments quoted in an active market, the quoted market price is the best measure of fair value. For investments not quoted in an active market, the carrying amount is the historical cost, if a reliable estimate of the fair value cannot be made. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount. These investments are presented on the balance sheet on the line \u2018Investments and interest in associates\u2019.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-20-7": {
   "value": "7. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInvestments are treated as financial assets at fair value through profit and loss or other comprehensive income and are initially recognized at cost, being the fair value of the consideration given. Subsequent fair value recognition through profit and loss or other comprehensive is determined at moment of initial recog-nition. For investments quoted in an active market, the quoted market price is the best measure of fair value. For investments not quoted in an active market, the carrying amount is the historical cost, if a reliable estimate of the fair value cannot be made. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount. These investments are presented on the balance sheet on the line \u2018Investments and interest in associates\u2019.Short-term investments are cash deposits with a maturity at inception in excess of 3 months and are intended to be held to maturity less than one year (solely payment of principle and interest). They are recognized at cost, with the associated revenue in interest income.8. Other non-current assetsOther non-current assets include long-term interest-bearing receivables and cash guarantees. Such long-term receivables are accounted for as loans and receivables originated by the company and are carried at amortized cost. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount.9. Financial assetsThe Group classifies its financial assets in the following cat-egories: financial assets at fair value and financial assets at amortized cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition.Regular purchases and sales of financial assets are recognized on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets (such as loans, trade and other receivables, cash and cash equivalents) are subsequently measured at amortized cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.Trade and other receivables after and within one year are recognized initially at fair value and subsequently measured at amortized cost, i.e. at the net present value of the receiv-able amount, using the effective interest rate method, less allowances for impairment. The Group assesses on a for-ward-looking basis the expected credit loss associated with its financial assets carried at amortized cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 Financial instruments, which requires expected lifetime losses to be recognized from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognized in the income statement within other operating income. 13. Trade debtors and other amounts receivableTrade debtors and other amounts receivable are shown on the balance sheet at amortized cost (in general, the original amount invoiced) less an allowance for doubtful debts and less an amount for expected credit losses. The allowance for doubtful debts is recorded in operating income when it is prob-able that the company will not be able to collect all amounts due. Allowances are calculated on an individual basis, based on an aging analysis of the trade debtors. For the determination of the expected credit loss, the Group has applied the simplified approach and records lifetime expected losses on all trade receivables. This amount is determined on a portfolio basis.14. Cash and cash equivalentsCash and cash equivalents consist of cash on hand and bal-ances with banks and short-term investments with an original maturity date or notice period of three months or less. It is the Group\u2019s policy to hold investments to maturity. All invest-ments are initially recognized at fair value, which is the cost at recognition date.  22. Derivative financial instrumentsDerivative financial instruments are recognized initially at cost, which is the fair value of the consideration given (in the case of an asset) or received (in the case of a liability) for it. Subsequent to initial recognition, derivative financial instruments are stated at fair value. The fair values of derivative interest contracts are estimated by discounting expected future cash flows using current market interest rates and yield curve over the remaining term of the instrument. The fair value of forward exchange contracts is estimated using valuation techniques which include forward pricing and swap models at the balance sheet date. Derivative financial instruments that are either hedging instru-ments that are not designated or do not qualify as hedges are carried at fair value with changes in value included in the income statement.Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability, or a highly probable forecasted transaction, the effective part of any gain or loss on the derivative financial instrument is recognized directly in \u2018other comprehensive income\u2019 with the ineffective part recognized directly in profit and loss.Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-22-6": {
   "value": "8. Other non-current assetsOther non-current assets include long-term interest-bearing receivables and cash guarantees. Such long-term receivables are accounted for as loans and receivables originated by the company and are carried at amortized cost. An impairment loss is recorded when the carrying amount exceeds the estimated recoverable amount.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-24-7": {
   "value": "Financial assets (such as loans, trade and other receivables, cash and cash equivalents) are subsequently measured at amortized cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.Trade and other receivables after and within one year are recognized initially at fair value and subsequently measured at amortized cost, i.e. at the net present value of the receiv-able amount, using the effective interest rate method, less allowances for impairment. The Group assesses on a for-ward-looking basis the expected credit loss associated with its financial assets carried at amortized cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 Financial instruments, which requires expected lifetime losses to be recognized from initial recognition of the receivables.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-26-4": {
   "value": "10. InventoriesInventories are stated at the lower of cost or net realiz-able value. Cost is determined on a first in first out (FIFO) or weighted average basis. Net realizable value is the esti-mated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs of completing the sale. In addition to the cost of materials and direct labor, the rel-evant proportion of production overhead is included in the inventory values.Write offs on inventories are applied on slow-moving inven-tory. The calculation of the allowance is based on consistently applied write off rules, which depend on both historical and future demand, of which the latter is subject to uncertainty due to rapid technological changes. 12. InventoryIn thousands of euro 2022 2021 2020Raw materials and consumables 120,610 90,139 68,053Work in progress 79,993 64,384 57,972Finished goods 123,930 92,931 122,408Write-off on inventories -78,819 -71,957 -73,043Inventory 245,714 175,496 175,390Inventory turns 2.1 2.4 2.3Increase in inventory (+ 40%) compared to 2021 is linked to the higher sales volume (+ 31.6%) and increase in component prices (14%). Further due to the component shortages, safety buffers were stocked for a number of scarce components and additional component purchases were made in expecta-tion of upcoming price increases. Finished goods are higher than usual, mainly in cinema and diagnostic imaging, a result of capacity ramp-up after component shortages and will be reduced when delivering out of the high orderbook. As a result turns remain low at 2.1. In 2021, as a result of the higher sales volume in the fourth quarter (+29% yoy), finished goods inventory has decreased significantly compared to 2020, which was offset by increased raw materials inventory, caused by the emerging supply constraints in the second semester. The supply scarcity has resulted in an acceleration of the Company\u2019s raw material purchases and higher raw material prices (see note 18). Total inventory and inventory turns remained stable compared to last year. Inventory levels in the company vary depending on the oper-ating segment within Barco. Operating segments selling more hardware products compared to software or project sales generally have higher inventory levels.The two divisions that were impacted the most by the supply constraints, Entertainment and Healthcare show the highest increase in raw materials. For Entertainment, finished goods increased mainly due to recovery of the market, price increases (12%), but also partly due to lagging demand from China cus-tomers as a result of covid lockdowns.Increase in inventory in Enterprise is linked to higher sales, turns remained stable.In 2021, raw materials inventory increased in all three divisions as a result of accelerated purchases in view of component shortages. In Entertainment and Enterprise the increase in raw materials inventory was offset by a higher decrease in finished goods inventory, thanks to higher fourth quarter sales than in 2020. In Healthcare raw material inventory has increased more than in the other divisions, as, next to the impact of compo-nent shortages, the Company has purchased raw materials upfront under the form of a last-time-buy order for compo-nents for which the supplier decided to stop the production. We refer to chapter \u2018Critical accounting judgements and key sources of estimation uncertainty\u2019 for more explanation on the impact of the macroeconomic environmentInventories are stated at the lower of cost or net realizable value. The calculation of the allowance for slow-moving inven-tory is based on consistently applied write-off rules, which depend on both historical and future demand.In 2022 write-offs recognized as expense remained stable at 0.7% of sales compared to 2021.In 2020, write-offs were impacted by the covid-19 pandemic and resulted in higher write-offs recognized as expense (11.6 million euro, 1.5% of sales). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-26-9": {
   "value": "10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. <span class=\"_ _141\"> </span>Wr<span class=\"_ _3\"></span>ite off<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s: Inventor<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er of cost o<span class=\"_ _3\"></span>r net rea<span class=\"_ _3\"></span>liz<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>an<span class=\"_ _3\"></span>ce for slow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovin<span class=\"_ _3\"></span>g inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent<span class=\"_ _3\"></span>ly ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>end o<span class=\"_ _3\"></span>n bo<span class=\"_ _3\"></span>th his<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l an<span class=\"_ _3\"></span>d fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d, of w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the l<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>ter is su<span class=\"_ _3\"></span>bje<span class=\"_ _3\"></span>ct to un<span class=\"_ _3\"></span>cer<span class=\"ls4 ws4\">-</span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y du<span class=\"_ _3\"></span>e to rap<span class=\"_ _3\"></span>id tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. On to<span class=\"_ _3\"></span>p of th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>re seve<span class=\"_ _3\"></span>re rul<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in c<span class=\"_ _3\"></span>ase of for exa<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to stop a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it or p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g invento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y on h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d is in th<span class=\"_ _3\"></span>at ca<span class=\"_ _3\"></span>se analyzed<span class=\"_ _0\"></span> and reserved as<span class=\"_ _0\"></span> appropriate<span class=\"_ _0\"></span>. Inven<span class=\"_ _0\"></span>tor<span class=\"_ _3\"></span>y allo<span class=\"_ _0\"></span>wances are on<span class=\"_ _3\"></span>ly rever<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ru<span class=\"_ _3\"></span>les n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ap<span class=\"_ _3\"></span>ply or th<span class=\"_ _3\"></span>e wr<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ten of<span class=\"_ _3\"></span>f inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s sol<span class=\"_ _3\"></span>d or scr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d (see n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>2 '<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>to<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>'<span class=\"_ _1\"></span>).",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-27-3": {
   "value": "11. Revenue recognitionWe apply the five-step model to account for revenue arising from contracts with customers. Revenue is recognised at an amount that reflects the consideration to which we expect to be entitled in exchange for transferring goods or services to a customer.(a) Sale of goodsContracts with customers to sell equipment has only 1 perfor-mance obligation. Revenue recognition occurs at a point in time, when control of the asset is transferred to the customer, generally on delivery of the goods. The Group has following warranty options: the Group provides warranties for general repairs of which the Group determined that such warranties are assurance-type warranties which are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.(b) Rendering of servicesThe Group provides services within all segments. These services are sold either on their own in contracts with the customers or bundled together with the sale of equipment to a customer. The Group accounts for the equipment and service as separate deliverables of bundled sales and allocates consideration between these deliverables using the relative stand-alone selling prices. The Group recognises service rev-enue by reference to the stage of completion. The Group recognises the services over time given that the customer simultaneously receives and consumes the benefits provided by the Group. Consequently, the Group recognises revenue for these service contracts/service components of bundled contracts over time rather than at a point of time.(c) ProjectsFor revenue out of projects, the percentage of completion method is used, provided that the outcome of the project can be assessed with reasonable certainty. These projects generally have a lifetime of less than one year.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-28-4": {
   "value": "(a) Sale of goodsContracts with customers to sell equipment has only 1 perfor-mance obligation. Revenue recognition occurs at a point in time, when control of the asset is transferred to the customer, generally on delivery of the goods. The Group has following warranty options: the Group provides warranties for general repairs of which the Group determined that such warranties are assurance-type warranties which are accounted for under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.15. ProvisionsProvisions are recorded when the Group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made to the amount of the obligation.The Group recognizes the estimated liability to repair or replace products still under warranty at the balance sheet date. The provision is calculated based on historical experience of the level of repairs and replacements.A provision for restructuring is only recognized when the Group has approved a detailed and formal restructuring plan, and the restructuring has either commenced or has been announced to those affected by the plan before the balance sheet date. On the line item \u2018Long-term provisions\u2019, the company pres-ents the net liability relating to the post-retirement benefit obligations which includes the Belgian defined-contribution pension plans that are by law subject to minimum guaranteed rates of return. Pension legislation was amended at the end of 2015 and defines the minimum guaranteed rate of return as a variable percentage linked to government bond yields observed in the market as from 1 January 2016 onwards. For 2022 the minimum guaranteed rate of return remains the same as in 2021 and 2020, i.e. 1.75% on employer contributions and employee contributions. We refer to note 19 for more detailed information. As a consequence, the defined contribution plans have been accounted for as defined benefit plan.19. Employee benefitsEmployee benefits are recognized as an expense when the Group consumes the economic benefit arising from service provided by an employee in exchange for employee benefits, and as a liability when an employee has provided service in exchange for employee benefits to be paid in the future. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-32-2": {
   "value": "12. Government grantsGovernment grants related to research and development proj-ects and other forms of government assistance are recognized as income upon irreversible achievement and by reference to the relevant expenses incurred.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-32-4": {
   "value": "12. Government grantsGovernment grants related to research and development proj-ects and other forms of government assistance are recognized as income upon irreversible achievement and by reference to the relevant expenses incurred.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-33-7": {
   "value": "13. Trade debtors and other amounts receivableTrade debtors and other amounts receivable are shown on the balance sheet at amortized cost (in general, the original amount invoiced) less an allowance for doubtful debts and less an amount for expected credit losses. The allowance for doubtful debts is recorded in operating income when it is prob-able that the company will not be able to collect all amounts due. Allowances are calculated on an individual basis, based on an aging analysis of the trade debtors. For the determination of the expected credit loss, the Group has applied the simplified approach and records lifetime expected losses on all trade receivables. This amount is determined on a portfolio basis.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-34-5": {
   "value": "14. Cash and cash equivalentsCash and cash equivalents consist of cash on hand and bal-ances with banks and short-term investments with an original maturity date or notice period of three months or less. It is the Group\u2019s policy to hold investments to maturity. All invest-ments are initially recognized at fair value, which is the cost at recognition date. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-36-5": {
   "value": "On the line item \u2018Long-term provisions\u2019, the company pres-ents the net liability relating to the post-retirement benefit obligations which includes the Belgian defined-contribution pension plans that are by law subject to minimum guaranteed rates of return. Pension legislation was amended at the end of 2015 and defines the minimum guaranteed rate of return as a variable percentage linked to government bond yields observed in the market as from 1 January 2016 onwards. For 2022 the minimum guaranteed rate of return remains the same as in 2021 and 2020, i.e. 1.75% on employer contributions and employee contributions. We refer to note 19 for more detailed information. As a consequence, the defined contribution plans have been accounted for as defined benefit plan.19. Employee benefitsEmployee benefits are recognized as an expense when the Group consumes the economic benefit arising from service provided by an employee in exchange for employee benefits, and as a liability when an employee has provided service in exchange for employee benefits to be paid in the future. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-38-3": {
   "value": "16. Equity \u2013 costs of an equity transaction The transaction costs of an equity transaction are accounted for as a deduction from equity, net of any related income tax benefit.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-41-5": {
   "value": "18. Trade and other payablesTrade and other payables are stated at amortized cost, which is the cost at recognition date. This is an approximation of the fair value.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-43-4": {
   "value": "Foreign currency ratesDecember 31, 2022 December 31, 2021 December 31, 2020CurrencyClosing rate Average rate Closing rate Average rate Closing rate Average rateCNY 7. 36 7.08 7.19 7.63 8.02 7.88INR 88.17 82.69 84.23 87.45 89.66 84.74USD 1.07 1.05 1.13 1.18 1.23 1.1420. Transactions in foreign currenciesTransactions in foreign currencies are recorded at the rates of exchange prevailing at the date of transaction or at the end of the month before the date of the transaction. At the end of the accounting period the unsettled balances on for-eign currency receivables and liabilities are valued at the rates of exchange prevailing at the end of the accounting period. Foreign exchange gains and losses are recognized in the income statement in the period in which they arise.21. Foreign Group companiesIn the consolidated accounts, all items in the profit and loss accounts of foreign subsidiaries are translated into euro at the average exchange rates for the accounting period. The balance sheets of foreign group companies are translated into euro at the rates of exchange ruling at the year-end. The resulting exchange differences are classified in a separate component of \u2018other comprehensive income\u2019, until disposal of the investment.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-46-7": {
   "value": " 22. Derivative financial instrumentsDerivative financial instruments are recognized initially at cost, which is the fair value of the consideration given (in the case of an asset) or received (in the case of a liability) for it. Subsequent to initial recognition, derivative financial instruments are stated at fair value. The fair values of derivative interest contracts are estimated by discounting expected future cash flows using current market interest rates and yield curve over the remaining term of the instrument. The fair value of forward exchange contracts is estimated using valuation techniques which include forward pricing and swap models at the balance sheet date. Derivative financial instruments that are either hedging instru-ments that are not designated or do not qualify as hedges are carried at fair value with changes in value included in the income statement.Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability, or a highly probable forecasted transaction, the effective part of any gain or loss on the derivative financial instrument is recognized directly in \u2018other comprehensive income\u2019 with the ineffective part recognized directly in profit and loss.Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-46-8": {
   "value": " 22. Derivative financial instrumentsDerivative financial instruments are recognized initially at cost, which is the fair value of the consideration given (in the case of an asset) or received (in the case of a liability) for it. Subsequent to initial recognition, derivative financial instruments are stated at fair value. The fair values of derivative interest contracts are estimated by discounting expected future cash flows using current market interest rates and yield curve over the remaining term of the instrument. The fair value of forward exchange contracts is estimated using valuation techniques which include forward pricing and swap models at the balance sheet date. Derivative financial instruments that are either hedging instru-ments that are not designated or do not qualify as hedges are carried at fair value with changes in value included in the income statement.Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability, or a highly probable forecasted transaction, the effective part of any gain or loss on the derivative financial instrument is recognized directly in \u2018other comprehensive income\u2019 with the ineffective part recognized directly in profit and loss.Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-46-9": {
   "value": " 22. Derivative financial instrumentsDerivative financial instruments are recognized initially at cost, which is the fair value of the consideration given (in the case of an asset) or received (in the case of a liability) for it. Subsequent to initial recognition, derivative financial instruments are stated at fair value. The fair values of derivative interest contracts are estimated by discounting expected future cash flows using current market interest rates and yield curve over the remaining term of the instrument. The fair value of forward exchange contracts is estimated using valuation techniques which include forward pricing and swap models at the balance sheet date. Derivative financial instruments that are either hedging instru-ments that are not designated or do not qualify as hedges are carried at fair value with changes in value included in the income statement.Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability, or a highly probable forecasted transaction, the effective part of any gain or loss on the derivative financial instrument is recognized directly in \u2018other comprehensive income\u2019 with the ineffective part recognized directly in profit and loss.Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-47-10": {
   "value": "Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforce-able right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-48-6": {
   "value": "23. Income taxesCurrent taxes are based on the results of the Group companies and are calculated according to local tax rules.Deferred tax assets and liabilities are determined, using the liability method, for all temporary differences arising between the tax basis of assets and liabilities and their carrying values for financial reporting purposes. Tax rates used are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantially enacted at the balance sheet date.Deferred tax assets are recognized for all deductible temporary differences, carry-forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary dif-ferences, carry-forward of unused tax credits and tax losses can be utilized. The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient tax-able profit will be available to allow all or part of the deferred income tax asset to be utilized.Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.The Group reviews their tax positions taken in the financial statements and in the tax filings and how these are supported. In addition, the Group assesses how the taxation authorities might make their examinations and how issues that might arise from examinations could be resolved. Based on this assess-ment, a deferred tax liability is determined in line with IFRIC 23.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-48-7": {
   "value": "23. Income taxesCurrent taxes are based on the results of the Group companies and are calculated according to local tax rules.Deferred tax assets and liabilities are determined, using the liability method, for all temporary differences arising between the tax basis of assets and liabilities and their carrying values for financial reporting purposes. Tax rates used are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantially enacted at the balance sheet date.Deferred tax assets are recognized for all deductible temporary differences, carry-forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary dif-ferences, carry-forward of unused tax credits and tax losses can be utilized. The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient tax-able profit will be available to allow all or part of the deferred income tax asset to be utilized.Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.The Group reviews their tax positions taken in the financial statements and in the tax filings and how these are supported. In addition, the Group assesses how the taxation authorities might make their examinations and how issues that might arise from examinations could be resolved. Based on this assess-ment, a deferred tax liability is determined in line with IFRIC 23.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-49-4": {
   "value": "25. Share-based paymentBarco created warrants and stock options for staff and directors as well as for individuals who play an important role in the company. According to the publication of IFRS2, the cost of share-based payment transactions is reflected in the income statement.The warrants and stock options are measured at grant date, based on the share price at grant date, exercise price, expected volatility, dividend estimates, and interest rates. Warrant cost is taken into result on a straight-line basis from the grant date until the end of the vesting period. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-49-5": {
   "value": "25. Share-based paymentBarco created warrants and stock options for staff and directors as well as for individuals who play an important role in the company. According to the publication of IFRS2, the cost of share-based payment transactions is reflected in the income statement.The warrants and stock options are measured at grant date, based on the share price at grant date, exercise price, expected volatility, dividend estimates, and interest rates. Warrant cost is taken into result on a straight-line basis from the grant date until the end of the vesting period. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForWarrantsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-50-3": {
   "value": "26. Earnings per shareThe Group calculates both basic and diluted earnings per share in accordance with IAS 33, Earnings per share. Under IAS 33, basic earnings per share are computed using the weighted average number of shares outstanding during the period. Diluted earnings per share are computed using the weighted average number of shares outstanding during the period plus the dilutive effect of warrants outstanding during the period. As diluted earnings per share cannot be higher than basic earnings per share, diluted earnings per share are kept equal to basic earnings per share in case of negative net earnings.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-53-3": {
   "value": "27. Discontinued operations and non-current assets held for saleA discontinued operation is a component of the Group that either has been disposed of, or is classified as held for sale and represents a separate major line of business and is part of a single coordinated plan to dispose of a separate major line of business or is a subsidiary acquired exclusively with a view to resale.The Group classifies a non-current asset (or disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction rather than through continuing use. The criteria for held for sale classification is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition. Management must be committed to the sale expected within one year from the date of the classification. Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale.Immediately before classification as held for sale, the Group measures the carrying amount of the asset (or all the assets and liabilities in the disposal group) in accordance with appli-cable IFRS. Then, on initial classification as held for sale, non-current assets and disposal groups are recognized at the lower of their carrying amounts and fair value less costs to sell. Impairment losses are recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-53-4": {
   "value": "27. Discontinued operations and non-current assets held for saleA discontinued operation is a component of the Group that either has been disposed of, or is classified as held for sale and represents a separate major line of business and is part of a single coordinated plan to dispose of a separate major line of business or is a subsidiary acquired exclusively with a view to resale.The Group classifies a non-current asset (or disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction rather than through continuing use. The criteria for held for sale classification is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition. Management must be committed to the sale expected within one year from the date of the classification. Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale.Immediately before classification as held for sale, the Group measures the carrying amount of the asset (or all the assets and liabilities in the disposal group) in accordance with appli-cable IFRS. Then, on initial classification as held for sale, non-current assets and disposal groups are recognized at the lower of their carrying amounts and fair value less costs to sell. Impairment losses are recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-53-5": {
   "value": "27. Discontinued operations and non-current assets held for saleA discontinued operation is a component of the Group that either has been disposed of, or is classified as held for sale and represents a separate major line of business and is part of a single coordinated plan to dispose of a separate major line of business or is a subsidiary acquired exclusively with a view to resale.The Group classifies a non-current asset (or disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction rather than through continuing use. The criteria for held for sale classification is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition. Management must be committed to the sale expected within one year from the date of the classification. Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale.Immediately before classification as held for sale, the Group measures the carrying amount of the asset (or all the assets and liabilities in the disposal group) in accordance with appli-cable IFRS. Then, on initial classification as held for sale, non-current assets and disposal groups are recognized at the lower of their carrying amounts and fair value less costs to sell. Impairment losses are recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-54-2": {
   "value": "IFRS accounting standards adopted as of 2022The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2022. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.\u2022  Amendments to IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets as well as Annual Improvements, effective 1 January 2022\u2022  Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions beyond 30 June 2021 (effective 01/04/2021, with early application permitted)None of these IFRS standards issued have an impact on Barco\u2019s financials.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-54-3": {
   "value": "IFRS accounting standards adopted as of 2022The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2022. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.\u2022  Amendments to IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets as well as Annual Improvements, effective 1 January 2022\u2022  Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions beyond 30 June 2021 (effective 01/04/2021, with early application permitted)None of these IFRS standards issued have an impact on Barco\u2019s financials.IFRS accounting standards issued but not yet effective as of 2022Standards issued but not yet effectiveThe standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group\u2019s financial statements are disclosed below. The Group intends to adopt these standards and interpretations, if applicable, when they become effective.\u2022  Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies, effective 1 January 2023\u2022  IFRS 17 \u2018Insurance contracts\u2019, effective 1 January 2023\u2022  Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates, effective 1 January 20231\u2022  Amendments to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as current or non-current\u2019, effec-tive 1 January 2023\u2022  Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction, effective 1 January 2023\u2022  Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative Information (issued on 9 December 2021, effective 1 January 2023 None of the IFRS standards issued, but not yet effective are expected to have a material impact on Barco\u2019s financials.(1)  Not yet endorsed by the European Union as at 31 December 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-54-4": {
   "value": "IFRS accounting standards adopted as of 2022The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2022. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.\u2022  Amendments to IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets as well as Annual Improvements, effective 1 January 2022\u2022  Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions beyond 30 June 2021 (effective 01/04/2021, with early application permitted)None of these IFRS standards issued have an impact on Barco\u2019s financials.IFRS accounting standards issued but not yet effective as of 2022Standards issued but not yet effectiveThe standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group\u2019s financial statements are disclosed below. The Group intends to adopt these standards and interpretations, if applicable, when they become effective.\u2022  Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies, effective 1 January 2023\u2022  IFRS 17 \u2018Insurance contracts\u2019, effective 1 January 2023\u2022  Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates, effective 1 January 20231\u2022  Amendments to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as current or non-current\u2019, effec-tive 1 January 2023\u2022  Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction, effective 1 January 2023\u2022  Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative Information (issued on 9 December 2021, effective 1 January 2023 None of the IFRS standards issued, but not yet effective are expected to have a material impact on Barco\u2019s financials.(1)  Not yet endorsed by the European Union as at 31 December 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-56-4": {
   "value": "IFRS accounting standards issued but not yet effective as of 2022Standards issued but not yet effectiveThe standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group\u2019s financial statements are disclosed below. The Group intends to adopt these standards and interpretations, if applicable, when they become effective.\u2022  Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies, effective 1 January 2023\u2022  IFRS 17 \u2018Insurance contracts\u2019, effective 1 January 2023\u2022  Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates, effective 1 January 20231\u2022  Amendments to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as current or non-current\u2019, effec-tive 1 January 2023\u2022  Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction, effective 1 January 2023\u2022  Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative Information (issued on 9 December 2021, effective 1 January 2023 None of the IFRS standards issued, but not yet effective are expected to have a material impact on Barco\u2019s financials.(1)  Not yet endorsed by the European Union as at 31 December 2022.",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfNotAppliedNewStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-65-4": {
   "value": "Uncertain tax positions: The Group reviews their tax posi-tions taken in the financial statements and in the tax filings and how these are supported. In addition, the Group assesses how the taxation authorities might make their examinations and how issues that might arise from exam-inations could be resolved. Based on this assessment, a Deferred tax assets are recognized for the carry-forward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilized. In making its judgment, management considers elements such as long-term business strategy, including tax planning opportunities (see note 10 \u2018Deferred tax assets \u2013 deferred tax liabilities\u2019) and local tax laws enacted at the reporting date.deferred tax liability is determined in line with IFRIC 23 (see note 10 \u2018Deferred tax assets \u2013 deferred tax liabilities\u2019).6. Income taxes(a) Tax positions taken in the financial statements and in the tax filings and how these are supported, as well as how the taxation authorities might make their examinations and how issues that might arise from examinations could be resolved, are reviewed. Based on this assessment, a deferred tax liability is determined in line with IFRIC 23. A reversal on the deferred tax liability is taken when the uncertain tax position is no longer in place as a result of an occurred tax examination or expiration of the examination period.(b) Includes withholding taxes on dividends received and tax impact of intragroup dividends that did not apply for a divi-dend received exemption regime to their full extent.(c) Deferred tax assets not recognized on tax losses/credits or tax losses/credits carried forward when assessment shows it is not probable that these tax benefits can be utilized in the near future, in 2021 and 2020 mainly in Barco NV (Belgium). Reference is made to note 10. In 2020, this also related to an impairment on the deferred tax assets set up in relation to tax losses carried forward in Barco Taiwan Technology Ltd., linked to the decision to close the factory and liquidate the legal entity.(d) Capital loss incurred on the liquidation of Barco Taiwan Technology Ltd. in 2021. In thousands of euro Note 2022 2021 2020Current versus deferred income taxesCurrent income taxes -13,301 -5,333 -6,886Deferred income taxes 10 -2,626 3,201 6,886Income taxes -15,927 -2,132 -Income taxes versus income before taxesEBIT 87,643 12,953 -4,332Interest income (expense) - net 843 -1,110 -121Income before taxes 88,486 11,843 -4,453Income taxes -15,927 -2,132 -Effective income tax rate % 18.0% 18.0% 0.0%Income before taxes 88,486 11,843 -4,453Theoretical tax rate % 25% 25% 25%Theoretical tax credit/(cost) -22,122 -2,961 1,113Innovation income deduction (IID) 6,518 5,224 5,302Effect of different tax rates in non-Belgian affiliates -523 546 968Uncertain tax treatment  (a) 60 280 1,840Income not taxed   Other income exempt from tax (mainly government grants) 2,758 1,706 2,141Non deductible expenses   Dividends received  (b) -90 -319 -4,265   Other non-deductible expenses -1,693 -2,038 -2,042Tax adjustments related to prior periods -773 -165 1,029Deferred tax assets, derecognized in current year (c) -420 -9,377 -6,895Set-up/use of deferred tax assets, not recognized in prior years 357 533 809Realized capital loss on investment in affiliates (d) - 4,439 -Taxes related to current income before taxes -15,927 -2,132 -10. Deferred tax assets \u2013 deferred tax liabilitiesThe deferred tax asset and liability balance comprises tempo-rary differences attributable to:Assets Liabilities Net asset/(liability)In thousands of euro 2022 2021 2020 2022 2021 2020 2022 2021 2020Tax value of tax credits 17,920 26,586 13,616 - - - 17,920 26,586 13,616Tax value of loss carry forwards 13,721 10,201 22,854 - - - 13,721 10,201 22,854Deferred revenue 10,227 9,961 5,082 - - -442 10,227 9,961 4,640Inventory 8,837 8,573 9,133 -211 -34 - 8,626 8,539 9,133Provisions 6,062 8,477 12,197 122 -32 -142 6,184 8,445 12,054Tangible fixed assets and software 1,580 2,031 1,734 -363 -678 -925 1,217 1,353 809Employee benefits 1,333 1,024 843 258 88 -525 1,591 1,112 318Trade debtors 416 362 407 - - - 416 362 407Other investments 54 319 797 - - - 54 319 797Capitalized development cost 6 - - - - - 6 - -Uncertain tax positions (IFRIC 23) - - - -3,060 -3,120 -3,400 -3,060 -3,120 -3,400Patents, licenses, ... - - - -5,704 -3,792 -3,688 -5,704 -3,792 -3,688Other items 852 435 589 -40 -68 -64 812 367 525Gross tax assets/(liabilities)61,008 67,969 67,253 -8,998 -7,636 -9,187 52,010 60,333 58,066Offset of tax-5,769 -3,814 -4,441 5,769 3,814 4,441 - - -Net tax assets/(liabilities)55,239 64,155 62,811 -3,229 -3,822 -4,745 52,010 60,333 58,066Movements in the deferred tax assets / (liabilities) arise from the following:Net deferred tax assets recognized primarily relate to the tax value of loss carry forwards (13.7 million euro), dividends received exemption (3.0 million euro), intellectual property regimes (13.5 million Euro) and other tax credits carried forward (1.4 million euro) primarily relate to Belgium. On top of these items for which a net deferred tax is recognized, the Group owns tax losses carried forward amounting to 70.3 million euro as of 31 December 2022 (80 million euro in 2021) for which a valuation allowance has been recorded (resulting in a valuation allowance of 18.3 million euro (20.8 million euro in 2021) on deferred tax assets recognized in relation to tax losses carried forward). A valuation allowance is recorded on these items because it is not probable that tax assets will be utilized within their statue of limitations or that taxable profit will be available in the near future against which the benefits can be utilized. The tax losses carried forward for which an allowance has been recorded have no expiration date.need to generate future taxable profit in the countries where the net operating losses and other items carried forward were incurred. Based upon the level of historical taxable income and projections for future taxable profit over the periods in which the deferred tax assets are deductible, management believes it is probable that the Group will be able to utilize these deferred tax assets.Barco has not recognized income taxes on undistributed earnings of its subsidiaries which will not be distributed in the foreseeable future. The cumulative amount of undistributed earnings (irrespective of tax treatment exemptions) on which the Group has not recognized income taxes was approximately 488 million euro per December 31, 2022 (2021: 504 million euro, 2020: 478 million euro).As at Recognized through Recognized  Exchange gains and As at  In thousands of euro1 January 2022 income statementthrough OCI Acquisitionslosses31 December 2022Tax value of tax credits 26,586 -8,687 - - 21 17,920Tax value of loss carry forwards 10,201 3,504 - - 16 13,721Deferred revenue 9,961 -328 - - 594 10,227Inventory 8,539 -163 - - 250 8,626Provisions 8,445 2,483 -4,599 - -146 6,184Employee benefits 1,112 478 - - 1 1,591Tangible fixed assets and software 1,353 -104 - - -32 1,217Trade debtors 362 40 - - 14 416Other investments 319 -285 - - 20 54Capitalized development cost - 6 - - - 6Uncertain tax positions (IFRIC 23) -3,120 60 - - - -3,060Patents, licenses, ... -3,792 -56 - -1,494 -362 -5,704Other items 367 425 - - 20 812Net deferred tax 60,333 -2,626 -4,599 -1,494 396 52,010In assessing the realization of deferred tax assets, management considers whether it is probable that some portion or all of the deferred tax assets will be realized within the foreseeable future. The ultimate realization of deferred tax assets is depen-dent upon the generation of future taxable profit during the periods in which those temporary differences become deduct-ible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable profit and foreseeable tax events in making this assessment. In 2020 and 2021, the covid-19 impact on future taxable profit was factored in in the realization assessment. A time period of 5 years is considered. In order to fully realize the deferred tax asset, the Group will ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-68-4": {
   "value": "<span class=\"_ _24\"> </span>Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll: th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y or mo<span class=\"_ _3\"></span>re freq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly if t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re are ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns t<span class=\"_ _3\"></span>hat go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll mi<span class=\"_ _3\"></span>ght b<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>red (se<span class=\"_ _3\"></span>e note 8 \u2019Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>\u2019<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter of 2022<span class=\"_ _3\"></span>, did n<span class=\"_ _3\"></span>ot res<span class=\"_ _3\"></span>ult in a<span class=\"_ _3\"></span>n impa<span class=\"_ _3\"></span>irme<span class=\"_ _3\"></span>nt loss.5. Restructuring and impairment costsTh<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>.A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23e\"> </span>Note<span class=\"_ _7e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _de\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>20</span>Restructuring (cash)<span class=\"_ _1c4\"> </span>19<span class=\"_ _11\"> </span>-2,50<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,920<span class=\"_ _de\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1</span></span>Impairments (non-<span class=\"_ _3\"></span>cash)<span class=\"_ _228\"> </span>-<span class=\"_ _73\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0<span class=\"_ _81\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>2</span></span>T<span class=\"_ _0\"></span>otal rest<span class=\"_ _0\"></span>ructuring and i<span class=\"_ _0\"></span>mpairments<span class=\"_ _23f\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6,420<span class=\"_ _235\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3</span></span>8. GoodwillIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>At cos<span class=\"_ _3\"></span>t<span class=\"_ _24b\"> </span><span class=\"lse3 ws100\">17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>1<span class=\"_ _3\"></span>79,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>5</span>Impairment<span class=\"_ _72\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _cc\"> </span>74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _22a\"> </span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3</span>Net book<span class=\"_ _0\"></span> value<span class=\"_ _1b6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>12<span class=\"_ _78\"> </span>10<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>61<span class=\"_ _3\"></span>2<span class=\"_ _78\"> </span>105<span class=\"_ _3\"></span>,61<span class=\"_ _3\"></span>2</span>Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re no cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es to go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll in 2022<span class=\"_ _3\"></span>, 2021 a<span class=\"_ _3\"></span>nd 2020 an<span class=\"_ _3\"></span>d the i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test<span class=\"_ _3\"></span>s on g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill i<span class=\"_ _3\"></span>n the 3 ye<span class=\"_ _3\"></span>ars d<span class=\"_ _3\"></span>id n<span class=\"_ _3\"></span>ot resu<span class=\"_ _3\"></span>lt in any impairment.Th<span class=\"_ _3\"></span>e test w<span class=\"_ _3\"></span>as p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d on a ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit le<span class=\"_ _3\"></span>vel by comp<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng ea<span class=\"_ _3\"></span>ch un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>\u2019s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e, inc<span class=\"_ _3\"></span>ludi<span class=\"_ _3\"></span>ng g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>, to it<span class=\"_ _3\"></span>s val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>se of ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit w<span class=\"_ _3\"></span>as as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g a disco<span class=\"_ _3\"></span>unted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>gem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s rev<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>d bu<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>et on di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion l<span class=\"_ _3\"></span>evel for t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r an<span class=\"_ _3\"></span>d es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns cover<span class=\"_ _3\"></span>ing a f<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od. Co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>stent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h it<span class=\"_ _3\"></span>s year<span class=\"_ _3\"></span>ly im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for fu<span class=\"_ _3\"></span>ture yea<span class=\"_ _3\"></span>rs to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, an ap<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ate level of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism wa<span class=\"_ _3\"></span>s ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, to ta<span class=\"_ _3\"></span>ke into accoun<span class=\"_ _3\"></span>t covid<span class=\"_ _3\"></span>-19 rel<span class=\"_ _3\"></span>ated un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>aint<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. Fo<span class=\"_ _3\"></span>r 2022 th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h leve<span class=\"_ _3\"></span>l of cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>atism i<span class=\"_ _3\"></span>s aga<span class=\"_ _3\"></span>in a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to be con<span class=\"_ _3\"></span>siste<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ar tes<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g. In 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020, th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e impairment t<span class=\"_ _0\"></span>ests on goodwill impairment t<span class=\"_ _0\"></span>ests per<span class=\"_ _3\"></span>formed did<span class=\"_ _0\"></span> not re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>.Se<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low for ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns on t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t testi<span class=\"_ _3\"></span>ng performed.Goodwill by cash-generating unit On a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on, g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red in a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is all<span class=\"_ _3\"></span>oca<span class=\"_ _3\"></span>ted to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g uni<span class=\"_ _3\"></span>t whi<span class=\"_ _3\"></span>ch is exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to be<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>efit<span class=\"_ _0\"></span> from tha<span class=\"_ _0\"></span>t business c<span class=\"_ _0\"></span>ombination.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>hese cas<span class=\"_ _0\"></span>h<span class=\"_ _3\"></span>-gen<span class=\"_ _3\"></span>erating<span class=\"_ _0\"></span> uni<span class=\"_ _3\"></span>ts cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d to th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n leve<span class=\"_ _3\"></span>l for He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _0\"></span>tertainment. Theref<span class=\"_ _0\"></span>ore, impairmen<span class=\"_ _0\"></span>t testing i<span class=\"_ _0\"></span>s per<span class=\"_ _3\"></span>formed at th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>low.  Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l (af<span class=\"_ _3\"></span>ter im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>) has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as foll<span class=\"_ _3\"></span>ows:Cash-genera<span class=\"_ _0\"></span>ting units<span class=\"_ _0\"></span> in thousands o<span class=\"_ _0\"></span>f euro<span class=\"_ _ed\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22-<span class=\"_ _0\"></span>2020</span>Healthcar<span class=\"_ _0\"></span>e <span class=\"_ _1de\"> </span><span class=\"lsde wsfb\"> 28,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>3 </span>Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _24c\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5 </span>Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _24d\"> </span><span class=\"ls4 ws4\"> 35,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>64 </span>T<span class=\"_ _0\"></span>otal goodwi<span class=\"_ _0\"></span>ll (net<span class=\"_ _0\"></span> book value)<span class=\"_ _1b6\"> </span><span class=\"lsf5 ws112\"> 105,612 </span>Th<span class=\"_ _3\"></span>e al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on rem<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e over 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d it<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>n the fo<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th quarter of<span class=\"_ _0\"></span> 2022<span class=\"_ _0\"></span> consist<span class=\"_ _0\"></span>ently wi<span class=\"_ _0\"></span>th prior years.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>s at th<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nsh<span class=\"_ _3\"></span>ip b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en it<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rket c<span class=\"_ _3\"></span>ap-ita<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d its b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue, a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>st ot<span class=\"_ _3\"></span>her f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>en revie<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ators of i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. At 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, the m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up was a<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>ost t<span class=\"_ _3\"></span>hree t<span class=\"_ _3\"></span>ime<span class=\"_ _3\"></span>s the a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup. A<span class=\"_ _3\"></span>s s<span class=\"_ _3\"></span>uch, t<span class=\"_ _3\"></span>his g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al tes<span class=\"_ _3\"></span>t do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot sho<span class=\"_ _3\"></span>w an in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>cati<span class=\"_ _3\"></span>on for i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d for ea<span class=\"_ _3\"></span>ch<span class=\"_ _0\"></span> cas<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e recove<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>le a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt for e<span class=\"_ _3\"></span>ach of the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on a val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>culat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n usin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rated<span class=\"_ _3\"></span> by ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent cove<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-ye<span class=\"_ _3\"></span>ar p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the l<span class=\"_ _3\"></span>evel of un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y of f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re years<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s have be<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>djus<span class=\"_ _3\"></span>ted to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e pur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e of our impairment testing.Th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed to p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows i<span class=\"_ _3\"></span>s 10.1<span class=\"_ _3\"></span>% (2021 a<span class=\"_ _3\"></span>nd 2020: 8.<span class=\"_ _3\"></span>7%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws b<span class=\"_ _3\"></span>eyon<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e five<span class=\"_ _1\"></span>-year p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d are ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ated usi<span class=\"_ _3\"></span>ng a co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h rate of 0% (202<span class=\"_ _3\"></span>1: 0%<span class=\"_ _3\"></span>, 2020: 0%<span class=\"_ _3\"></span>).Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt by wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e uni<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u2019s recovera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt e<span class=\"_ _3\"></span>xceeds it<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is 1<span class=\"_ _3\"></span>51 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (142 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>) in He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, 13<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n Enterp<span class=\"_ _3\"></span>rise (97 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) a<span class=\"_ _3\"></span>nd 106 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent (42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021).Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease ve<span class=\"_ _3\"></span>rsus 202<span class=\"_ _3\"></span>1 is th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of recoveri<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>evel of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA % (avera<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t 3 year<span class=\"_ _3\"></span>s) is consis<span class=\"_ _3\"></span>tent w<span class=\"_ _3\"></span>ith p<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>r yea<span class=\"_ _3\"></span>rs an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude 2 cov<span class=\"_ _3\"></span>id im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted yea<span class=\"_ _3\"></span>rs (2020 a<span class=\"_ _3\"></span>nd 2021<span class=\"_ _3\"></span>). Des<span class=\"_ _3\"></span>pite the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>h level o<span class=\"_ _3\"></span>f conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d, al<span class=\"_ _3\"></span>l thre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave substantial headroom.A sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lysi<span class=\"_ _3\"></span>s is pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (se<span class=\"_ _3\"></span>e Se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns \u2013 Dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate). F<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard lo<span class=\"_ _3\"></span>oki<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _3\"></span>, we refer to t<span class=\"_ _3\"></span>he com<span class=\"_ _3\"></span>pany re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>is annual r<span class=\"_ _0\"></span>epo<span class=\"_ _3\"></span>rt.Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t are cons<span class=\"_ _3\"></span>isten<span class=\"_ _3\"></span>t with e<span class=\"_ _0\"></span>x<span class=\"_ _3\"></span>ternal<span class=\"_ _0\"></span> sourc<span class=\"_ _0\"></span>es<span class=\"_ _3\"></span>.For none<span class=\"_ _0\"></span> of the cash-generating units management<span class=\"_ _0\"></span> identified an impairment<span class=\"_ _0\"></span> loss after<span class=\"_ _0\"></span> the impairment t<span class=\"_ _0\"></span>est.Ke<span class=\"_ _0\"></span>y assumptions used in<span class=\"_ _0\"></span> value-in-use cal<span class=\"_ _0\"></span>culationsTh<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>-i<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>use for a<span class=\"_ _3\"></span>ll ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit<span class=\"_ _3\"></span>s is mos<span class=\"_ _3\"></span>t se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>ive to th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns:\u2022 <span class=\"_ _141\"> </span>S<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d dur<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d;\u2022 EBIT<span class=\"_ _3\"></span>DA; \u2022 <span class=\"_ _2a\"> </span>Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to extr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate cash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he budget period<span class=\"_ _0\"></span>;\u2022 <span class=\"_ _141\"> </span>D<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate;Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re show<span class=\"_ _3\"></span>n in b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le:Healt<span class=\"_ _0\"></span>hcare<span class=\"_ _14b\"> </span><span class=\"ls16 ws1f\">Enterprise<span class=\"_ _55\"> </span><span class=\"ls1f ws29\">Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inme<span class=\"_ _3\"></span>nt</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d<span class=\"_ _24e\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _24f\"> </span>11.<span class=\"_ _3\"></span>2%<span class=\"_ _6e\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>1.<span class=\"_ _3\"></span>4%<span class=\"_ _235\"> </span><span class=\"lsfc ws119\">9.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%</span></span>Gro<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>tes<span class=\"_ _250\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _80\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%<span class=\"_ _6e\"> </span>10.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _70\"> </span>10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%</span>Sal<span class=\"_ _3\"></span>es gr<span class=\"_ _3\"></span>owth r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d duri<span class=\"_ _3\"></span>ng the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>riod<span class=\"ff4 ls4d wsa1\"> \u2013 S<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> </span>grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate used ov<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od ha<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>en kep<span class=\"_ _3\"></span>t conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>ly at zero pe<span class=\"_ _3\"></span>rcent for al<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its<span class=\"_ _3\"></span>, sin<span class=\"_ _3\"></span>ce even th<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no ri<span class=\"_ _3\"></span>sk for i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. EBITDA a<span class=\"_ _3\"></span>s per<span class=\"_ _3\"></span>cent<span class=\"_ _3\"></span>age of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls28\"> <span class=\"_ _0\"></span>\u2013 EBI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>DA as pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s </span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree yea<span class=\"_ _3\"></span>rs p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cedi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f the b<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d for a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ke<span class=\"_ _3\"></span>pt cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ativ<span class=\"_ _3\"></span>ely f<span class=\"_ _3\"></span>lat ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ere as of 2024, the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>et back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA level<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he 2019 EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>% (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) it is m<span class=\"_ _3\"></span>ore real<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic to ta<span class=\"_ _3\"></span>ke the p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA leve<span class=\"_ _3\"></span>l of 2019 (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) as of 2024.Grow<span class=\"_ _3\"></span>th rate estim<span class=\"_ _3\"></span>ates<span class=\"ff4 ls2a ws39\"> \u2013 The lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>late </span>the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n kept con<span class=\"_ _3\"></span>ser<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely at zero % for a<span class=\"_ _3\"></span>ll cash-<span class=\"_ _3\"></span>generating uni<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s.Disco<span class=\"_ _3\"></span>unt rate \u2013 Dis<span class=\"_ _3\"></span>coun<span class=\"_ _3\"></span>t rate refl<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic to Ba<span class=\"_ _3\"></span>rco Group<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>count rate wa<span class=\"_ _3\"></span>s est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a (lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm) pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x cost of ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>ein<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>cit in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. It w<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n grou<span class=\"_ _3\"></span>p leve<span class=\"_ _3\"></span>l.Sensitivity to<span class=\"_ _0\"></span> changes in assumptionsPer 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, on<span class=\"_ _3\"></span>ly a ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>e in EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n could re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt a<span class=\"_ _3\"></span>re discu<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>elow<span class=\"_ _3\"></span>:EBITDA p<span class=\"_ _3\"></span>erc<span class=\"_ _3\"></span>enta<span class=\"_ _3\"></span>ge on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls20 ws38\"> \u2013 Management has<span class=\"_ _0\"></span> consider<span class=\"_ _0\"></span>ed </span>the p<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y of lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted EBI<span class=\"_ _3\"></span>TDA p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s. For H<span class=\"_ _3\"></span>ealth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a re<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ast ye<span class=\"_ _3\"></span>ar of t<span class=\"_ _3\"></span>he pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vely m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 7<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, 7% a<span class=\"_ _3\"></span>nd 4% wo<span class=\"_ _3\"></span>uld re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n an impairment. Disco<span class=\"_ _3\"></span>unt rates<span class=\"ff4 ls2e wse\"> \u2013 Management<span class=\"_ _0\"></span> has c<span class=\"_ _0\"></span>onsidered<span class=\"_ _0\"></span> the possibil<span class=\"ls4 ws4\">-</span></span>it<span class=\"_ _3\"></span>y of a si<span class=\"_ _3\"></span>gnif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er we<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e cost to tes<span class=\"_ _3\"></span>t the sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y. For no<span class=\"_ _3\"></span>ne o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s this l<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>s to an im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate estim<span class=\"_ _3\"></span>ate (beyo<span class=\"_ _3\"></span>nd the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d)<span class=\"ff4 ws39\"> \u2013 For al<span class=\"_ _3\"></span>l </span>div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, no rea<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate, use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, wo<span class=\"_ _3\"></span>uld res<span class=\"_ _3\"></span>ult in an impairment.9<span class=\"_ _0\"></span>.1 Other intangible assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _251\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _cc\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>2020</span>Other Intangible <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>Cust<span class=\"_ _0\"></span>omer<span class=\"ls4 ws4\"> </span>Other as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r <span class=\"_ _21\"></span> Sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wareRelations<span class=\"_ _89\"> </span><span class=\"lsd3 wsc6\">K<span class=\"_ _3\"></span>now-how</span>Intangible Assetsconstructi<span class=\"_ _0\"></span>on<span class=\"_ _22a\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>24<span class=\"_ _cf\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _22a\"> </span></span></span>9,90<span class=\"_ _3\"></span>7<span class=\"_ _90\"> </span></span>-<span class=\"_ _6a\"> </span>136<span class=\"_ _3\"></span>,578<span class=\"_ _76\"> </span><span class=\"ls108 ws125\">134,6<span class=\"_ _0\"></span>08<span class=\"_ _6a\"> </span><span class=\"ls42 ws6f\">1<span class=\"_ _3\"></span>57<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250</span></span>Expenditure<span class=\"_ _1f7\"> </span>489<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,733<span class=\"_ _cb\"> </span></span>-<span class=\"_ _c0\"> </span>1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>14<span class=\"_ _d2\"> </span>3,836<span class=\"_ _1b0\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>230<span class=\"_ _101\"> </span><span class=\"lsdd wsfa\">1,9<span class=\"_ _3\"></span>51</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _81\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>8,0<span class=\"_ _3\"></span>64</span></span>Acquisi<span class=\"_ _0\"></span>tion of sub<span class=\"_ _0\"></span>sidiaries<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-</span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a6\"> </span>1,552<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>552<span class=\"_ _cb\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _91\"> </span>600<span class=\"_ _8f\"> </span>147<span class=\"_ _8f\"> </span>-23<span class=\"_ _144\"> </span>-5<span class=\"_ _90\"> </span>-<span class=\"_ _8d\"> </span>719<span class=\"_ _d2\"> </span><span class=\"lsfb ws118\">4,052<span class=\"_ _73\"> </span><span class=\"lsf4 ws111\">-16,<span class=\"_ _3\"></span>529</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _107\"> </span>65,998<span class=\"_ _be\"> </span>9,<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>8<span class=\"_ _bb\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>5<span class=\"_ _3\"></span>,20<span class=\"_ _3\"></span>0<span class=\"_ _1ef\"> </span>62<span class=\"_ _1a4\"> </span>128<span class=\"_ _3\"></span>,64<span class=\"_ _3\"></span>6<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>36,<span class=\"_ _3\"></span>578<span class=\"_ _1a4\"> </span>13<span class=\"_ _3\"></span>4,608</span>Amortizations and<span class=\"_ _0\"></span> impairmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _ab\"> </span>48,<span class=\"_ _3\"></span>709<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _67\"> </span></span>45,702<span class=\"_ _cc\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _cb\"> </span></span>-<span class=\"_ _ad\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _62\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>55<span class=\"_ _ad\"> </span><span class=\"lsea ws107\">11<span class=\"_ _3\"></span>2,781</span></span>Amor<span class=\"_ _3\"></span>tization<span class=\"_ _123\"> </span>6,3<span class=\"_ _3\"></span>75<span class=\"_ _90\"> </span>-<span class=\"_ _d2\"> </span>3,602<span class=\"_ _49\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _90\"> </span></span>-<span class=\"_ _67\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsfb ws118\">13,0<span class=\"_ _3\"></span>95<span class=\"_ _bb\"> </span><span class=\"lsed ws10a\">13,<span class=\"_ _3\"></span>388</span></span>Impairment<span class=\"_ _1ae\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>500</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _bc\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>3</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _21c\"> </span>23<span class=\"_ _8f\"> </span>147<span class=\"_ _8d\"> </span>159<span class=\"_ _ae\"> </span>-27<span class=\"_ _cb\"> </span>-<span class=\"_ _b\"> </span>302<span class=\"_ _c0\"> </span><span class=\"lsfb ws118\">3,713<span class=\"_ _ad\"> </span><span class=\"lsf4 ws111\">-16,0<span class=\"_ _3\"></span>61</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1d7\"> </span>5<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>703<span class=\"_ _d2\"> </span>9,8<span class=\"_ _3\"></span>18<span class=\"_ _81\"> </span>39,928<span class=\"_ _bc\"> </span><span class=\"ls84 ws9f\">4,946<span class=\"_ _b3\"> </span></span>-<span class=\"_ _8e\"> </span><span class=\"lse7 ws104\">109,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>96<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _63\"> </span><span class=\"lse6 ws103\">105<span class=\"_ _3\"></span>,655</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19f\"> </span><span class=\"ls131 ws161\">15,053<span class=\"_ _39\"> </span></span>-<span class=\"_ _b0\"> </span>2,084<span class=\"_ _d6\"> </span><span class=\"lse9 ws106\">290<span class=\"_ _39\"> </span></span>-<span class=\"_ _7e\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7<span class=\"_ _bb\"> </span><span class=\"lsea ws107\">28,9<span class=\"_ _3\"></span>52<span class=\"_ _73\"> </span><span class=\"lsee ws10b\">4<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>69</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _19c\"> </span><span class=\"ls19a ws26f\">11,296<span class=\"_ _39\"> </span></span>-<span class=\"_ _be\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _8d\"> </span><span class=\"ls89 wsa4\">253<span class=\"_ _1ef\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _78\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>251<span class=\"_ _7e\"> </span></span></span></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _81\"> </span><span class=\"lsea ws107\">28<span class=\"_ _3\"></span>,952</span></span>A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e Gn<span class=\"_ _3\"></span>osco a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how fo<span class=\"_ _3\"></span>r an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 7<span class=\"_ _2\"></span>.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro wa<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch is am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over 5 year<span class=\"_ _3\"></span>s. We refer to n<span class=\"_ _3\"></span>ote 1.<span class=\"_ _3\"></span>3 for m<span class=\"_ _3\"></span>ore e<span class=\"_ _3\"></span>xpl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n on t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et assets<span class=\"_ _0\"></span> acquired.<span class=\"_ _0\"></span> Barco\u2019s int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de S<span class=\"_ _3\"></span>AP ERP so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware a<span class=\"_ _3\"></span>nd rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how. In 2022, c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 2.1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2021: 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s in 2022 an<span class=\"_ _3\"></span>d 2021 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to ne<span class=\"_ _3\"></span>w custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span> relation<span class=\"_ _0\"></span>ship management (C<span class=\"_ _0\"></span>RM) software. Expenditur<span class=\"_ _0\"></span>es in 2020 were ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly rela<span class=\"_ _3\"></span>ted to SAP ER<span class=\"_ _3\"></span>P sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re lice<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 rel<span class=\"_ _3\"></span>ate to ful<span class=\"_ _3\"></span>ly am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized IT so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware<span class=\"_ _3\"></span> whi<span class=\"_ _3\"></span>ch is no l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r use<span class=\"_ _3\"></span>d.In 2020 th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t on acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>sulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of 3.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro on th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d kno<span class=\"_ _3\"></span>w-how fo<span class=\"_ _3\"></span>r care<span class=\"_ _3\"></span>sy<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>x.Th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent cos<span class=\"_ _3\"></span>t is in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt expenses in 20<span class=\"_ _0\"></span>20.Th<span class=\"_ _3\"></span>e grou<span class=\"_ _3\"></span>p pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t revie<span class=\"_ _3\"></span>w on acqu<span class=\"_ _3\"></span>ired i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he fou<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>th q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter o<span class=\"_ _3\"></span>f 2022 cons<span class=\"_ _3\"></span>istent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or yea<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>l at<span class=\"_ _3\"></span>tenti<span class=\"_ _3\"></span>on w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>id to th<span class=\"_ _3\"></span>e potent<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pacts of<span class=\"_ _0\"></span> the macr<span class=\"_ _0\"></span>oeconomic e<span class=\"_ _0\"></span>nvironment.<span class=\"_ _0\"></span> The test<span class=\"_ _0\"></span> concluded<span class=\"_ _0\"></span> no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Barco do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot ho<span class=\"_ _3\"></span>ld in<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>ith in<span class=\"_ _3\"></span>def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ite lifeti<span class=\"_ _3\"></span>me.9<span class=\"_ _0\"></span>.2. T<span class=\"_ _0\"></span>angible fixed assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _253\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _63\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Furniture,<span class=\"_ _0\"></span> Pl<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>, of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>OtherLa<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y and eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt  pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ty, pl<span class=\"_ _3\"></span>ant A<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al O<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r buildingsequi<span class=\"_ _3\"></span>pmentand vehicl<span class=\"_ _0\"></span>esand equipmentconstructi<span class=\"_ _0\"></span>ontangible assets<span class=\"_ _8e\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _7b\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19e\"> </span>138,155<span class=\"_ _43\"> </span><span class=\"ls19c ws271\">8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>6<span class=\"_ _4\"> </span>4<span class=\"_ _6e\"> </span><span class=\"lsed ws10a\">42,217<span class=\"_ _43\"> </span><span class=\"ls109 ws126\">12,586<span class=\"_ _1a4\"> </span><span class=\"lsda wsf7\">3,794<span class=\"_ _178\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>62<span class=\"_ _178\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _151\"> </span></span></span></span></span></span>2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4e\"> </span><span class=\"lsdd wsfa\">276<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>2</span></span>Expenditure*<span class=\"_ _254\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>39<span class=\"_ _6c\"> </span><span class=\"lsf0 ws10d\">6<span class=\"_ _3\"></span>,429<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">1,099<span class=\"_ _76\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _40\"> </span></span>22,383<span class=\"_ _54\"> </span><span class=\"ls138 ws167\">30,020<span class=\"_ _43\"> </span></span></span></span></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _ff\"> </span><span class=\"lsde wsfb\">26,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _109\"> </span>-14<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span>-6<span class=\"_ _3\"></span>,790<span class=\"_ _70\"> </span>-4,<span class=\"_ _3\"></span>822<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _8d\"> </span></span>-<span class=\"_ _10c\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>95<span class=\"_ _178\"> </span>-28,<span class=\"_ _3\"></span>03<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,614<span class=\"_ _3d\"> </span><span class=\"lse7 ws104\">-29,8<span class=\"_ _3\"></span>47</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a5\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">2,533<span class=\"_ _67\"> </span><span class=\"lsfe ws11b\">3<span class=\"_ _3\"></span>45<span class=\"_ _76\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,936<span class=\"_ _10\"> </span></span>-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>082<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _8d\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>227<span class=\"_ _73\"> </span>-9<span class=\"_ _3\"></span>81<span class=\"_ _de\"> </span>-83<span class=\"_ _16b\"> </span>-1<span class=\"_ _1\"></span>24<span class=\"_ _7e\"> </span>-9<span class=\"_ _3\"></span>0<span class=\"_ _71\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>27<span class=\"_ _1\"></span>7<span class=\"_ _6e\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>50<span class=\"_ _235\"> </span><span class=\"lsea ws107\">6<span class=\"_ _3\"></span>,786<span class=\"_ _ff\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>3</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>32,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _40\"> </span><span class=\"ls3c ws48\">87<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>566<span class=\"_ _10c\"> </span><span class=\"ls109 ws126\">4<span class=\"_ _3\"></span>4,086<span class=\"_ _40\"> </span><span class=\"ls190 ws254\">13,813<span class=\"_ _6c\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"ls10e ws12b\">15<span class=\"_ _3\"></span>2,70<span class=\"_ _3\"></span>4<span class=\"_ _46\"> </span><span class=\"lsea ws107\">285,<span class=\"_ _3\"></span>253<span class=\"_ _3a\"> </span></span></span></span></span></span>284,317<span class=\"_ _52\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _126\"> </span>59,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>3<span class=\"_ _10\"> </span>57<span class=\"_ _0\"></span>,850<span class=\"_ _10\"> </span>3<span class=\"_ _3\"></span>0,187<span class=\"_ _68\"> </span>9,8<span class=\"_ _3\"></span>40<span class=\"_ _8d\"> </span>-<span class=\"_ _70\"> </span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _ff\"> </span>1<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _178\"> </span><span class=\"lsed ws10a\">14<span class=\"_ _0\"></span>3,630<span class=\"_ _3d\"> </span><span class=\"lsdc wsf9\">141,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>93</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _123\"> </span>11,2<span class=\"_ _0\"></span>42<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _76\"> </span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>39<span class=\"_ _235\"> </span>1,0<span class=\"_ _3\"></span>68<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span></span>1<span class=\"_ _3\"></span>5,052<span class=\"_ _94\"> </span><span class=\"lsf0 ws10d\">26,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"ls103 ws120\">26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _4b\"> </span></span>26<span class=\"_ _3\"></span>,495</span>Impairment<span class=\"_ _1b5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _60\"> </span><span class=\"lsfb ws118\">5,757</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _2d\"> </span>-<span class=\"_ _3\"></span>8,135<span class=\"_ _7b\"> </span>-<span class=\"_ _1\"></span>6,<span class=\"_ _3\"></span>731<span class=\"_ _255\"> </span>-4,<span class=\"_ _3\"></span>589<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _1fc\"> </span></span>-<span class=\"_ _151\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>02<span class=\"_ _54\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span></span>-1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>787<span class=\"_ _50\"> </span><span class=\"lsf0 ws10d\">-26,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _159\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"ls109 ws126\">22<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _de\"> </span><span class=\"ls42 ws6f\">-50<span class=\"_ _1fc\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>212<span class=\"_ _65\"> </span>-2<span class=\"_ _3\"></span>34<span class=\"_ _b0\"> </span>-75<span class=\"_ _e1\"> </span><span class=\"lsda wsf7\">-94<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">-4<span class=\"_ _3\"></span>03<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-191<span class=\"_ _6c\"> </span></span></span></span>3,<span class=\"_ _3\"></span>546<span class=\"_ _10c\"> </span><span class=\"ls4 ws4\">-3<span class=\"_ _3\"></span>,669</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _31\"> </span>62,872<span class=\"_ _43\"> </span>58,<span class=\"_ _3\"></span>751<span class=\"_ _94\"> </span>31<span class=\"_ _3\"></span>,690<span class=\"_ _68\"> </span><span class=\"lse7 ws104\">9,0<span class=\"_ _3\"></span>82<span class=\"_ _b\"> </span></span>-<span class=\"_ _94\"> </span>9<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>23<span class=\"_ _36\"> </span>162<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>96<span class=\"_ _1a8\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1aa\"> </span><span class=\"lsfc ws119\">143<span class=\"_ _3\"></span>,63<span class=\"_ _3\"></span>0</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _11b\"> </span>78,6<span class=\"_ _3\"></span>02<span class=\"_ _43\"> </span>2<span class=\"_ _3\"></span>9,71<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>031<span class=\"_ _235\"> </span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span>3,79<span class=\"_ _3\"></span>4<span class=\"_ _9c\"> </span>48<span class=\"_ _3\"></span>,28<span class=\"_ _3\"></span>5<span class=\"_ _46\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>,88<span class=\"_ _3\"></span>7<span class=\"_ _3a\"> </span><span class=\"ls36 ws40\">123,47<span class=\"_ _0\"></span>4<span class=\"_ _fe\"> </span><span class=\"lsee ws10b\">13<span class=\"_ _3\"></span>5,469</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b3\"> </span>69,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>7<span class=\"_ _40\"> </span>28,815<span class=\"_ _54\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>396<span class=\"_ _8e\"> </span>4,7<span class=\"_ _3\"></span>31<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _70\"> </span>53,181<span class=\"_ _36\"> </span>122,856<span class=\"_ _3d\"> </span><span class=\"ls10e ws12b\">126<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>86<span class=\"_ _52\"> </span><span class=\"ls36 ws40\">123,473</span></span>(*) E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns fo<span class=\"_ _3\"></span>r IF<span class=\"_ _3\"></span>RS16<span class=\"_ _3\"></span>. Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ndit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in 2022<span class=\"_ _3\"></span>, exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g the<span class=\"_ _3\"></span> imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of IFRS<span class=\"_ _3\"></span>16, am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 19 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in 2022 con<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>urch<span class=\"_ _3\"></span>ase of l<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>w fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n Chin<span class=\"_ _3\"></span>a, Wux<span class=\"_ _3\"></span>i (4 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d rene<span class=\"_ _3\"></span>wal o<span class=\"_ _3\"></span>f dem<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce center<span class=\"_ _3\"></span>s (2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. I<span class=\"_ _3\"></span>n 2021<span class=\"_ _3\"></span>, maj<span class=\"_ _3\"></span>or c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ex con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>he new fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span> China, Su<span class=\"_ _0\"></span>zhou, both<span class=\"_ _0\"></span> facility and<span class=\"_ _0\"></span> production rela<span class=\"_ _3\"></span>ted (2021: 8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2020: 3.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro). Othe<span class=\"_ _3\"></span>r fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d cap<span class=\"_ _3\"></span>ex i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are la<span class=\"_ _3\"></span>b in N<span class=\"_ _3\"></span>oid<span class=\"_ _3\"></span>a (1<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d he<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g, ve<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>irco inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Kor<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk a<span class=\"_ _3\"></span>nd D<span class=\"_ _3\"></span>ulu<span class=\"_ _3\"></span>th fa<span class=\"_ _3\"></span>cili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>.1 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro).In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e mach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd too<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g lin<span class=\"_ _3\"></span>ked to new p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts (<span class=\"_ _3\"></span>2022: 2 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2021: 2.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 3.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), I<span class=\"_ _3\"></span>T hard<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ware e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (<span class=\"_ _3\"></span>2022: 2.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: 2.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2020: 1.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and l<span class=\"_ _3\"></span>easi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ith cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s (2022: 3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).Th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xed as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t, rea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ized in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2015 \u2013 201<span class=\"_ _3\"></span>9, relates to th<span class=\"_ _3\"></span>e hea<span class=\"_ _3\"></span>dq<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>rs of Ba<span class=\"_ _3\"></span>rco and th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r 50 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro. T<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k valu<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>r 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 29.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro.Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ure for t<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s in 2022 e<span class=\"_ _3\"></span>qua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s the EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy e<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le C<span class=\"_ _3\"></span>apE<span class=\"_ _3\"></span>x as t<span class=\"_ _3\"></span>he tot<span class=\"_ _3\"></span>al am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of Ca<span class=\"_ _3\"></span>pE<span class=\"_ _3\"></span>X rel<span class=\"_ _3\"></span>ates so<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>ly to ass<span class=\"_ _3\"></span>ets o<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ciated w<span class=\"_ _3\"></span>ith Ba<span class=\"_ _3\"></span>rco econo<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed in s<span class=\"_ _3\"></span>ect<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n \u201cT<span class=\"_ _0\"></span>axonom<span class=\"_ _0\"></span>y-<span class=\"_ _3\"></span>eligible ec<span class=\"_ _0\"></span>onomic activi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y - T<span class=\"_ _2\"></span>urnov<span class=\"_ _0\"></span>er\u201d<span class=\"_ _0\"></span>.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>late to th<span class=\"_ _3\"></span>e sal<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e bui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng in No<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ad a n<span class=\"_ _3\"></span>et bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of 4.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>ls re<span class=\"_ _3\"></span>late to old m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y &amp; eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>rnit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten do<span class=\"_ _3\"></span>wn.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y relate to ol<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y &amp; equ<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d fur<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten dow<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le of p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he la<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>g in K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ruh<span class=\"_ _3\"></span>e.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 2020 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ate to the cl<span class=\"_ _3\"></span>osure o<span class=\"_ _3\"></span>f the T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>y, toget<span class=\"_ _3\"></span>her w<span class=\"_ _3\"></span>ith o<span class=\"_ _3\"></span>ld ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>se U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d hal<span class=\"_ _3\"></span>f of 2020 resulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f 5.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>lated to t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>chi<span class=\"_ _3\"></span>ner<span class=\"_ _1\"></span>y an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t (see n<span class=\"_ _3\"></span>ote 5 'Re<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'). Th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re was li<span class=\"_ _3\"></span>nked to the d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n to out<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rce the U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM pane<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>red th<span class=\"_ _3\"></span>e pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>co<span class=\"ls4 ws4\">-</span>no<span class=\"_ _3\"></span>mic i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the u<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s of it<span class=\"_ _3\"></span>s fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent of it<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>achi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is di<span class=\"_ _3\"></span>d not co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. See \u2018C<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accou<span class=\"_ _3\"></span>nt<span class=\"ls4 ws4\">-</span>ing j<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and ke<span class=\"_ _3\"></span>y sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic envir<span class=\"_ _0\"></span>onment on Bar<span class=\"_ _0\"></span>co\u2019<span class=\"_ _0\"></span>s operations.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-70-4": {
   "value": " Current expected credit losses: The Group assesses on a forward-looking basis the expected credit loss associated with its financial assets carried at amortized cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 Financial instruments, which requires expected lifetime losses to be recognized from initial rec-ognition of the receivables.The ability of the Company to collect its accounts receiv-able balances is dependent on the viability and solvency of its business partners, distributors and resellers, which is influenced by business behavior, which is on its turn influenced by consumer behavior and general economic conditions. Customers may experience financial difficulties that could cause them to be unable to fulfil their payment obligations to the Company.  The Company develops its estimate of credit losses by type of business and customer type, number of days overdue and historical loss rates which are then adjusted for specific receivables that are judged to have a higher than normal risk profile after taking into account management\u2019s internal credit assessment, as well as macro-economic and industry risk factors. Moreover, the Company had a credit insurance in place for specific higher risk cinema contracts and the Company has reached extended payment plans with some of its cinema customers, which have been honored. The remaining overdue balances with its cinema customers per 31 December 2022 are limited and the limited remaining extended payments plans are being honored.  For the year ended December 31, 2022, the Company set up a limited extra provision for current expected credit losses (2022: -0.2 million euro; 2021: +0.4 million euro profit) reflecting a lower credit risk of its customers related accounts receivable compared to 2020. The extra provision recorded in 2020 (1.5 million euro) reflected a reduction in the credit quality of specific cinema customers related accounts receivable as a result of the covid-19 global pandemic. Per 31 December 2022, the number of days sales outstanding decreased to 54 days (56 days in 2021 and 67 in 2020) and are back at pre-covid levels. The higher number of days sales outstanding in 2020 was the result of higher overdues, mainly from cinema customers, caused by the covid-19 global impact on the cinema markets. For the year ended December 31, 2022, the Company set up a limited extra provision for current expected credit losses (2022: -0.2 million euro; 2021: + 0.4 million euro profit) reflecting a lower credit risk of its customers related accounts receivable compared to 2020. The extra provision recorded in 2020 (1.5 million euro) reflected a reduction in the credit quality of spe-cific cinema customers related accounts receivable as a result of the covid-19 global pandemic. The bad debt reserve in proportion to the gross amount of trade debtors decreased to 1.5% (2020: 2.5%, 2020: 2.9%).(a) Movement in bad debt reserve:In thousands of euro 2022 2021 2020On 1 January -3,954 -4,314 -2,874Additional provisions -1,191 -797 -2,341Amounts used 1,234 444 100Amounts unused 1,156 833 645Translation (losses) / gains -93 -120 156On 31 December -2,850 -3,954 -4,314(b) At 31 December 2022 the ageing analysis of trade debtors is as follows:In thousands of euro 2022 2021 2020Not due 171,431 138,188 111,020Overdue less than 30 days 12,699 10,377 12,282Overdue between 30 and 90 days 9,176 6,620 6,246Overdue between 90 days and 180 days 2,869 1,746 12,899Overdue more than 180 days 1,318 4,000 8,005Total gross 197,493 160,930 150,452Bad debt reserve -2,850 -3,954 -4,314Total 194,643 156,977 146,138In 2022, total overdue trade receivables amount to 26.1 million euro (2021: 22.7 million euro, 2020: 39.4 million euro), resulting in 7 days overdue DSO (2021: 9 days, 2020: 19 days), which is even better than pre-covid levels.The increase in overdue amounts and long outstanding overdues in 2020 was mainly from the Company\u2019s cinema customers. The Company was able to reach extended payment plans, which were honored by the major part of its customers in 2021, resulting in a decrease of the Company\u2019s overdues from 19 days in 2020 to 9 days in 2021. The Company has a credit insurance in place for specific higher risk cinema contracts and for cinema customers with long payment terms. During 2021 and 2022, the Company did not need to exercise its rights under the insurance as the cus-tomers, for which the credit insurance is in place, paid timely.The bad debt reserve in 2022 covers more than double of the trade receivables overdue more than 180 days (2021: 99%, 2020: 54%). Pre covid level was around 140%. In 2020, the Company has taken into account the credit insurance in place, payment plans being honored and revenue recognition, when assessing the potential credit risk and the need for recording a bad debt reserve on expected credit losses, which explains the bad debt reserve in 2020 amounting to 54% of the trade receivables overdue more than 180 days.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-70-5": {
   "value": "<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. 13. Amounts receivable and other non-current assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - g<span class=\"_ _3\"></span>ross<span class=\"_ _1ae\"> </span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _230\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _0\"></span>60,930<span class=\"_ _95\"> </span><span class=\"lsfe ws11b\">15<span class=\"_ _3\"></span>0,452</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt r<span class=\"_ _3\"></span>ese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve <span class=\"_ _c3\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>-2,85<span class=\"_ _3\"></span>0<span class=\"_ _25e\"> </span><span class=\"lsdd wsfa\">-3<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>4<span class=\"_ _dd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _1\"></span>4,<span class=\"_ _3\"></span>314</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btor<span class=\"_ _3\"></span>s - ne<span class=\"_ _3\"></span>t <span class=\"_ _44\"> </span><span class=\"fs7b ls10e ws12b\">(b)</span>194,643<span class=\"_ _95\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>97<span class=\"_ _3\"></span>7<span class=\"_ _1eb\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>V<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>. Rec<span class=\"_ _0\"></span>eivable<span class=\"_ _f7\"> </span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>1<span class=\"_ _280\"> </span><span class=\"ls103 ws120\">6,<span class=\"_ _3\"></span>418<span class=\"_ _cd\"> </span><span class=\"ls89 wsa4\">5,<span class=\"_ _3\"></span>358</span></span>T<span class=\"_ _0\"></span>axes<span class=\"_ _0\"></span> receivable<span class=\"_ _ed\"> </span>3,491<span class=\"_ _d5\"> </span><span class=\"lsfb ws118\">6,0<span class=\"_ _3\"></span>83<span class=\"_ _223\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4</span></span>Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _1ba\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _1a3\"> </span>4<span class=\"_ _281\"> </span><span class=\"lsf7 ws114\">24</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y rate s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p (n<span class=\"_ _3\"></span>ote 20)<span class=\"_ _1ac\"> </span>2,537<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,055<span class=\"_ _cd\"> </span><span class=\"lsfe ws11b\">5,<span class=\"_ _3\"></span>345</span></span>Other<span class=\"_ _282\"> </span>2,<span class=\"_ _3\"></span>569<span class=\"_ _cd\"> </span><span class=\"lsfb ws118\">2,650<span class=\"_ _222\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>9</span></span>Other amounts r<span class=\"_ _0\"></span>eceivable<span class=\"_ _283\"> </span>14,509<span class=\"_ _1b7\"> </span><span class=\"lse0 wsfd\">16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>9</span></span>Other non-curre<span class=\"_ _3\"></span>nt assets <span class=\"_ _62\"> </span><span class=\"fs7b lse0 wsfd\">(c)</span>5,819<span class=\"_ _dd\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>49<span class=\"_ _d5\"> </span></span>5,870Nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f day<span class=\"_ _3\"></span>s sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DS<span class=\"_ _3\"></span>O)<span class=\"_ _92\"> </span>54<span class=\"_ _1b1\"> </span><span class=\"ls10b ws128\">56<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">67</span></span>Per 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of da<span class=\"_ _3\"></span>ys sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 54 d<span class=\"_ _3\"></span>ays (56 d<span class=\"_ _3\"></span>ays in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 67 in 2020) a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re back a<span class=\"_ _3\"></span>t pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d leve<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of d<span class=\"_ _3\"></span>ays sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in 2020 wa<span class=\"_ _3\"></span>s the resul<span class=\"_ _0\"></span>t of higher<span class=\"_ _0\"></span> overdues, mainl<span class=\"_ _0\"></span>y from c<span class=\"_ _0\"></span>inema cust<span class=\"_ _0\"></span>omers<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on t<span class=\"_ _3\"></span>he cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s. For th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>ded D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 31<span class=\"_ _3\"></span>, 2022, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny set up a lim<span class=\"_ _3\"></span>ited ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>a provis<span class=\"_ _3\"></span>ion fo<span class=\"_ _3\"></span>r curre<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: + 0.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>) refle<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r credit r<span class=\"_ _3\"></span>isk of i<span class=\"_ _3\"></span>ts cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. Th<span class=\"_ _3\"></span>e ext<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d in 2020 (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) reflec<span class=\"_ _3\"></span>ted a red<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble as a re<span class=\"_ _3\"></span>sult of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic. Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve in p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on to th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs de<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed to 1<span class=\"_ _3\"></span>.5% (2020: 2.<span class=\"_ _3\"></span>5%, 2020: 2.9%).(a<span class=\"_ _0\"></span>) Movemen<span class=\"_ _0\"></span>t in bad<span class=\"_ _0\"></span> debt reserve<span class=\"_ _0\"></span>:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _75\"> </span>-3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-4,<span class=\"_ _3\"></span>314<span class=\"_ _c9\"> </span><span class=\"ls107 ws124\">-2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74</span></span>Additional<span class=\"_ _0\"></span> provision<span class=\"_ _0\"></span>s<span class=\"_ _240\"> </span>-1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>91<span class=\"_ _265\"> </span><span class=\"ls102 ws11f\">-797<span class=\"_ _e3\"> </span><span class=\"ls103 ws120\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>41</span></span>Am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>ed<span class=\"_ _21d\"> </span>1,23<span class=\"_ _3\"></span>4<span class=\"_ _265\"> </span><span class=\"ls137 ws166\">444<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Amounts unused<span class=\"_ _3f\"> </span>1<span class=\"_ _3\"></span>,156<span class=\"_ _1b7\"> </span><span class=\"ls84 ws9f\">833<span class=\"_ _26d\"> </span><span class=\"lsfe ws11b\">645</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on (l<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>ses) / g<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ns<span class=\"_ _285\"> </span>-93<span class=\"_ _286\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>20<span class=\"_ _25e\"> </span><span class=\"ls10b ws128\">156</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _287\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _140\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>(b) At 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2<span class=\"_ _3\"></span>022 the a<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis o<span class=\"_ _3\"></span>f trad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btors i<span class=\"_ _3\"></span>s as fo<span class=\"_ _3\"></span>llows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>Not due<span class=\"_ _27a\"> </span>171<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>431<span class=\"_ _2b\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>38,18<span class=\"_ _3\"></span>8<span class=\"_ _1d6\"> </span><span class=\"ls138 ws167\">11<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>020</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 30 d<span class=\"_ _3\"></span>ays<span class=\"_ _26c\"> </span>1<span class=\"_ _3\"></span>2,699<span class=\"_ _c9\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _c9\"> </span>12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 3<span class=\"_ _3\"></span>0 an<span class=\"_ _3\"></span>d 9<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _254\"> </span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14d\"> </span><span class=\"ls138 ws167\">6<span class=\"_ _3\"></span>,620<span class=\"_ _1d5\"> </span><span class=\"lsf7 ws114\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 9<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys a<span class=\"_ _3\"></span>nd 18<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys<span class=\"_ _288\"> </span>2,<span class=\"_ _3\"></span>869<span class=\"_ _95\"> </span><span class=\"lsef ws10c\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>6<span class=\"_ _140\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _3\"></span>2,899</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue m<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 18<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _1ae\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>318<span class=\"_ _1ff\"> </span><span class=\"ls191 ws255\">4,<span class=\"_ _0\"></span>000<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8,0<span class=\"_ _3\"></span>05</span></span>T<span class=\"_ _0\"></span>otal gross<span class=\"_ _3c\"> </span>1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _da\"> </span><span class=\"lsdd wsfa\">16<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _274\"> </span><span class=\"ls131 ws161\">1<span class=\"_ _3\"></span>50,452</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt re<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve<span class=\"_ _1bb\"> </span>-2,850<span class=\"_ _26f\"> </span><span class=\"lsdd wsfa\">-3,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _e3\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _20e\"> </span>194,643<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>7<span class=\"_ _da\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>In 2022, tot<span class=\"_ _3\"></span>al ove<span class=\"_ _3\"></span>rdue t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 26.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro (202<span class=\"_ _3\"></span>1: 22.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 39.4 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), result<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> in 7 day<span class=\"_ _3\"></span>s overd<span class=\"_ _3\"></span>ue DSO (202<span class=\"_ _3\"></span>1: 9 day<span class=\"_ _3\"></span>s, 2020: 19 d<span class=\"_ _3\"></span>ays), wh<span class=\"_ _3\"></span>ich is even b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>an p<span class=\"_ _3\"></span>re-<span class=\"_ _1\"></span>covid leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.The inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e in o<span class=\"_ _0\"></span>verdue<span class=\"_ _0\"></span> amounts and<span class=\"_ _0\"></span> long ou<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>standing<span class=\"_ _2\"></span> overd<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2020 was m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly fro<span class=\"_ _3\"></span>m the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s cin<span class=\"_ _3\"></span>ema custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y was a<span class=\"_ _3\"></span>ble to rea<span class=\"_ _3\"></span>ch ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent pl<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re hon<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e maj<span class=\"_ _3\"></span>or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs in 2021<span class=\"_ _3\"></span>, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in a d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny\u2019s ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>es from 1<span class=\"_ _3\"></span>9 days i<span class=\"_ _3\"></span>n 2020 to 9 days in 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny has a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for sp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d for ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>ith lon<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt terms<span class=\"_ _3\"></span>. D<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng 202<span class=\"_ _3\"></span>1 and 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany d<span class=\"_ _3\"></span>id not n<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d to exercise it<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e insu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce as th<span class=\"_ _3\"></span>e cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, for wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce is in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pai<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>n 2022 cover<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n dou<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 180 da<span class=\"_ _3\"></span>ys (2021<span class=\"_ _3\"></span>: 99%<span class=\"_ _3\"></span>, 2020: 54%). Pre covid le<span class=\"_ _3\"></span>vel wa<span class=\"_ _3\"></span>s arou<span class=\"_ _3\"></span>nd 140%<span class=\"_ _3\"></span>. In 2020, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as ta<span class=\"_ _3\"></span>ken into a<span class=\"_ _3\"></span>ccount th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d and re<span class=\"_ _3\"></span>venu<span class=\"_ _3\"></span>e reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>otent<span class=\"_ _3\"></span>ial cre<span class=\"_ _3\"></span>dit r<span class=\"_ _3\"></span>isk an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r recordi<span class=\"_ _3\"></span>ng a ba<span class=\"_ _3\"></span>d deb<span class=\"_ _3\"></span>t rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve on e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins the b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt re<span class=\"_ _3\"></span>ser<span class=\"_ _1\"></span>ve in 2020 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to 54% of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables ov<span class=\"_ _0\"></span>erdue more<span class=\"_ _0\"></span> than 180 da<span class=\"_ _0\"></span>ys.(a<span class=\"_ _0\"></span>) Short ter<span class=\"_ _0\"></span>m inves<span class=\"_ _0\"></span>tments and<span class=\"_ _0\"></span> deposits:Th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>its d<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>t car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y a ma<span class=\"_ _3\"></span>te<span class=\"ls4 ws4\">-</span>ria<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k of chan<span class=\"_ _3\"></span>ge i<span class=\"_ _3\"></span>n va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.At closi<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>ate, all s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s include<span class=\"_ _0\"></span>:Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _28d\"> </span><span class=\"ls198 ws26e\">2022</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _ad\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _65\"> </span><span class=\"ls198 ws26e\">2020</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ateDep<span class=\"_ _3\"></span>osits in USD<span class=\"_ _245\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>8<span class=\"_ _62\"> </span>4.<span class=\"_ _3\"></span>22%<span class=\"_ _255\"> </span>1<span class=\"_ _3\"></span>41<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24<span class=\"_ _63\"> </span>0.<span class=\"_ _3\"></span>09%<span class=\"_ _235\"> </span><span class=\"lse0 wsfd\">71<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>839<span class=\"_ _6a\"> </span>0.70%</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n EUR<span class=\"_ _203\"> </span>19,<span class=\"_ _0\"></span>000<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>25%<span class=\"_ _1ef\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1f6\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _1f6\"> </span>-</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n HKD<span class=\"_ _24e\"> </span>9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>79<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>%<span class=\"_ _68\"> </span>45,0<span class=\"_ _3\"></span>57<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">0.27<span class=\"_ _3\"></span>%<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _1ef\"> </span>-De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n INR<span class=\"_ _159\"> </span>1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.97<span class=\"_ _3\"></span>%<span class=\"_ _25c\"> </span>2,7<span class=\"_ _0\"></span>63<span class=\"_ _11\"> </span>4.<span class=\"_ _3\"></span>10%<span class=\"_ _81\"> </span><span class=\"ls89 wsa4\">3,175<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">3<span class=\"_ _3\"></span>.61<span class=\"_ _3\"></span>%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n CNY<span class=\"_ _266\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _6a\"> </span>9,<span class=\"_ _3\"></span>36<span class=\"_ _3\"></span>8<span class=\"_ _25c\"> </span>2.1<span class=\"_ _3\"></span>1%<span class=\"_ _65\"> </span><span class=\"lsee ws10b\">6,<span class=\"_ _3\"></span>232<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>8%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s<span class=\"_ _19a\"> </span><span class=\"lsed ws10a\">2,307<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _16b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>291<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">1,<span class=\"_ _3\"></span>839<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"></span>53,<span class=\"_ _3\"></span>142<span class=\"_ _18a\"> </span><span class=\"lse7 ws104\">19<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>80<span class=\"_ _3\"></span>2<span class=\"_ _a1\"> </span><span class=\"ls131 ws161\">83,086</span></span>Cas<span class=\"_ _3\"></span>h in Ho<span class=\"_ _3\"></span>ng Ko<span class=\"_ _3\"></span>ng wa<span class=\"_ _3\"></span>s use<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e repa<span class=\"_ _3\"></span>ym<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s in Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 17<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e purch<span class=\"_ _3\"></span>ase of oth<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow reg<span class=\"_ _3\"></span>ulato<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>old l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s in H<span class=\"_ _3\"></span>KD in 2022 compar<span class=\"_ _0\"></span>ed t<span class=\"_ _0\"></span>o 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>r dep<span class=\"_ _3\"></span>osi<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s in U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d HKD in 202<span class=\"_ _3\"></span>1 are h<span class=\"_ _3\"></span>eld in th<span class=\"_ _3\"></span>e accord<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed, avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g FX i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t &amp; loss<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imiz<span class=\"_ _3\"></span>ing y<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>ld (by avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive y<span class=\"_ _3\"></span>iel<span class=\"_ _3\"></span>ds in EUR<span class=\"_ _3\"></span>).Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are conve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tib<span class=\"_ _3\"></span>le to kn<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>hree a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>elve m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs fro<span class=\"_ _3\"></span>m ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n. De<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m (be<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n zero and t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs), highly liquid<span class=\"_ _0\"></span> investments, which<span class=\"_ _0\"></span> are r<span class=\"_ _0\"></span>eadily con<span class=\"_ _0\"></span>ver<span class=\"_ _3\"></span>tible t<span class=\"_ _0\"></span>o kno<span class=\"_ _3\"></span>wn am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h.Credit riskCre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s re<span class=\"_ _3\"></span>cei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>leCredit e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>irin<span class=\"_ _3\"></span>g credit ov<span class=\"_ _3\"></span>er a cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk i<span class=\"_ _3\"></span>s mon<span class=\"_ _3\"></span>itored o<span class=\"_ _3\"></span>n a conti<span class=\"_ _3\"></span>nuo<span class=\"_ _3\"></span>us ba<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>. In a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s colla<span class=\"_ _3\"></span>tera<span class=\"_ _3\"></span>l is be<span class=\"_ _3\"></span>ing requ<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>efore a cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k is accep<span class=\"_ _3\"></span>ted. S<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ce ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s let<span class=\"_ _3\"></span>ters of cre<span class=\"_ _3\"></span>dit an<span class=\"_ _3\"></span>d bi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>s of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e are regu<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>rly us<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to min<span class=\"_ _3\"></span>imize th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk<span class=\"_ _3\"></span>. In 2022, B<span class=\"_ _3\"></span>arco conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to cover cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>ks o<span class=\"_ _3\"></span>n sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers o<span class=\"_ _3\"></span>r la<span class=\"_ _3\"></span>rge con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s on a c<span class=\"_ _3\"></span>ase b<span class=\"_ _3\"></span>y case b<span class=\"_ _3\"></span>asi<span class=\"_ _3\"></span>s. Cre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>curit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _0\"></span>te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>sA po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g accept<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le cou<span class=\"_ _3\"></span>nter pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e max<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ris<span class=\"_ _3\"></span>k pe<span class=\"_ _3\"></span>r counter p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s in pl<span class=\"_ _3\"></span>ace. S<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs or i<span class=\"_ _3\"></span>n fixe<span class=\"_ _3\"></span>d term deposits wit<span class=\"_ _0\"></span>h reputable banks.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-70-6": {
   "value": "<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. 13. Amounts receivable and other non-current assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - g<span class=\"_ _3\"></span>ross<span class=\"_ _1ae\"> </span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _230\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _0\"></span>60,930<span class=\"_ _95\"> </span><span class=\"lsfe ws11b\">15<span class=\"_ _3\"></span>0,452</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt r<span class=\"_ _3\"></span>ese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve <span class=\"_ _c3\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>-2,85<span class=\"_ _3\"></span>0<span class=\"_ _25e\"> </span><span class=\"lsdd wsfa\">-3<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>4<span class=\"_ _dd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _1\"></span>4,<span class=\"_ _3\"></span>314</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btor<span class=\"_ _3\"></span>s - ne<span class=\"_ _3\"></span>t <span class=\"_ _44\"> </span><span class=\"fs7b ls10e ws12b\">(b)</span>194,643<span class=\"_ _95\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>97<span class=\"_ _3\"></span>7<span class=\"_ _1eb\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>V<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>. Rec<span class=\"_ _0\"></span>eivable<span class=\"_ _f7\"> </span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>1<span class=\"_ _280\"> </span><span class=\"ls103 ws120\">6,<span class=\"_ _3\"></span>418<span class=\"_ _cd\"> </span><span class=\"ls89 wsa4\">5,<span class=\"_ _3\"></span>358</span></span>T<span class=\"_ _0\"></span>axes<span class=\"_ _0\"></span> receivable<span class=\"_ _ed\"> </span>3,491<span class=\"_ _d5\"> </span><span class=\"lsfb ws118\">6,0<span class=\"_ _3\"></span>83<span class=\"_ _223\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4</span></span>Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _1ba\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _1a3\"> </span>4<span class=\"_ _281\"> </span><span class=\"lsf7 ws114\">24</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y rate s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p (n<span class=\"_ _3\"></span>ote 20)<span class=\"_ _1ac\"> </span>2,537<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,055<span class=\"_ _cd\"> </span><span class=\"lsfe ws11b\">5,<span class=\"_ _3\"></span>345</span></span>Other<span class=\"_ _282\"> </span>2,<span class=\"_ _3\"></span>569<span class=\"_ _cd\"> </span><span class=\"lsfb ws118\">2,650<span class=\"_ _222\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>9</span></span>Other amounts r<span class=\"_ _0\"></span>eceivable<span class=\"_ _283\"> </span>14,509<span class=\"_ _1b7\"> </span><span class=\"lse0 wsfd\">16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>9</span></span>Other non-curre<span class=\"_ _3\"></span>nt assets <span class=\"_ _62\"> </span><span class=\"fs7b lse0 wsfd\">(c)</span>5,819<span class=\"_ _dd\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>49<span class=\"_ _d5\"> </span></span>5,870Nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f day<span class=\"_ _3\"></span>s sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DS<span class=\"_ _3\"></span>O)<span class=\"_ _92\"> </span>54<span class=\"_ _1b1\"> </span><span class=\"ls10b ws128\">56<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">67</span></span>Per 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of da<span class=\"_ _3\"></span>ys sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 54 d<span class=\"_ _3\"></span>ays (56 d<span class=\"_ _3\"></span>ays in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 67 in 2020) a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re back a<span class=\"_ _3\"></span>t pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d leve<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of d<span class=\"_ _3\"></span>ays sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in 2020 wa<span class=\"_ _3\"></span>s the resul<span class=\"_ _0\"></span>t of higher<span class=\"_ _0\"></span> overdues, mainl<span class=\"_ _0\"></span>y from c<span class=\"_ _0\"></span>inema cust<span class=\"_ _0\"></span>omers<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on t<span class=\"_ _3\"></span>he cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s. For th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>ded D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 31<span class=\"_ _3\"></span>, 2022, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny set up a lim<span class=\"_ _3\"></span>ited ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>a provis<span class=\"_ _3\"></span>ion fo<span class=\"_ _3\"></span>r curre<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: + 0.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>) refle<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r credit r<span class=\"_ _3\"></span>isk of i<span class=\"_ _3\"></span>ts cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. Th<span class=\"_ _3\"></span>e ext<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d in 2020 (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) reflec<span class=\"_ _3\"></span>ted a red<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble as a re<span class=\"_ _3\"></span>sult of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic. Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve in p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on to th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs de<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed to 1<span class=\"_ _3\"></span>.5% (2020: 2.<span class=\"_ _3\"></span>5%, 2020: 2.9%).(a<span class=\"_ _0\"></span>) Movemen<span class=\"_ _0\"></span>t in bad<span class=\"_ _0\"></span> debt reserve<span class=\"_ _0\"></span>:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _75\"> </span>-3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-4,<span class=\"_ _3\"></span>314<span class=\"_ _c9\"> </span><span class=\"ls107 ws124\">-2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74</span></span>Additional<span class=\"_ _0\"></span> provision<span class=\"_ _0\"></span>s<span class=\"_ _240\"> </span>-1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>91<span class=\"_ _265\"> </span><span class=\"ls102 ws11f\">-797<span class=\"_ _e3\"> </span><span class=\"ls103 ws120\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>41</span></span>Am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>ed<span class=\"_ _21d\"> </span>1,23<span class=\"_ _3\"></span>4<span class=\"_ _265\"> </span><span class=\"ls137 ws166\">444<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Amounts unused<span class=\"_ _3f\"> </span>1<span class=\"_ _3\"></span>,156<span class=\"_ _1b7\"> </span><span class=\"ls84 ws9f\">833<span class=\"_ _26d\"> </span><span class=\"lsfe ws11b\">645</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on (l<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>ses) / g<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ns<span class=\"_ _285\"> </span>-93<span class=\"_ _286\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>20<span class=\"_ _25e\"> </span><span class=\"ls10b ws128\">156</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _287\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _140\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>(b) At 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2<span class=\"_ _3\"></span>022 the a<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis o<span class=\"_ _3\"></span>f trad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btors i<span class=\"_ _3\"></span>s as fo<span class=\"_ _3\"></span>llows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>Not due<span class=\"_ _27a\"> </span>171<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>431<span class=\"_ _2b\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>38,18<span class=\"_ _3\"></span>8<span class=\"_ _1d6\"> </span><span class=\"ls138 ws167\">11<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>020</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 30 d<span class=\"_ _3\"></span>ays<span class=\"_ _26c\"> </span>1<span class=\"_ _3\"></span>2,699<span class=\"_ _c9\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _c9\"> </span>12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 3<span class=\"_ _3\"></span>0 an<span class=\"_ _3\"></span>d 9<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _254\"> </span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14d\"> </span><span class=\"ls138 ws167\">6<span class=\"_ _3\"></span>,620<span class=\"_ _1d5\"> </span><span class=\"lsf7 ws114\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 9<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys a<span class=\"_ _3\"></span>nd 18<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys<span class=\"_ _288\"> </span>2,<span class=\"_ _3\"></span>869<span class=\"_ _95\"> </span><span class=\"lsef ws10c\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>6<span class=\"_ _140\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _3\"></span>2,899</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue m<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 18<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _1ae\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>318<span class=\"_ _1ff\"> </span><span class=\"ls191 ws255\">4,<span class=\"_ _0\"></span>000<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8,0<span class=\"_ _3\"></span>05</span></span>T<span class=\"_ _0\"></span>otal gross<span class=\"_ _3c\"> </span>1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _da\"> </span><span class=\"lsdd wsfa\">16<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _274\"> </span><span class=\"ls131 ws161\">1<span class=\"_ _3\"></span>50,452</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt re<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve<span class=\"_ _1bb\"> </span>-2,850<span class=\"_ _26f\"> </span><span class=\"lsdd wsfa\">-3,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _e3\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _20e\"> </span>194,643<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>7<span class=\"_ _da\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>In 2022, tot<span class=\"_ _3\"></span>al ove<span class=\"_ _3\"></span>rdue t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 26.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro (202<span class=\"_ _3\"></span>1: 22.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 39.4 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), result<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> in 7 day<span class=\"_ _3\"></span>s overd<span class=\"_ _3\"></span>ue DSO (202<span class=\"_ _3\"></span>1: 9 day<span class=\"_ _3\"></span>s, 2020: 19 d<span class=\"_ _3\"></span>ays), wh<span class=\"_ _3\"></span>ich is even b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>an p<span class=\"_ _3\"></span>re-<span class=\"_ _1\"></span>covid leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.The inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e in o<span class=\"_ _0\"></span>verdue<span class=\"_ _0\"></span> amounts and<span class=\"_ _0\"></span> long ou<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>standing<span class=\"_ _2\"></span> overd<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2020 was m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly fro<span class=\"_ _3\"></span>m the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s cin<span class=\"_ _3\"></span>ema custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y was a<span class=\"_ _3\"></span>ble to rea<span class=\"_ _3\"></span>ch ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent pl<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re hon<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e maj<span class=\"_ _3\"></span>or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs in 2021<span class=\"_ _3\"></span>, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in a d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny\u2019s ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>es from 1<span class=\"_ _3\"></span>9 days i<span class=\"_ _3\"></span>n 2020 to 9 days in 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny has a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for sp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d for ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>ith lon<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt terms<span class=\"_ _3\"></span>. D<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng 202<span class=\"_ _3\"></span>1 and 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany d<span class=\"_ _3\"></span>id not n<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d to exercise it<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e insu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce as th<span class=\"_ _3\"></span>e cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, for wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce is in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pai<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>n 2022 cover<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n dou<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 180 da<span class=\"_ _3\"></span>ys (2021<span class=\"_ _3\"></span>: 99%<span class=\"_ _3\"></span>, 2020: 54%). Pre covid le<span class=\"_ _3\"></span>vel wa<span class=\"_ _3\"></span>s arou<span class=\"_ _3\"></span>nd 140%<span class=\"_ _3\"></span>. In 2020, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as ta<span class=\"_ _3\"></span>ken into a<span class=\"_ _3\"></span>ccount th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d and re<span class=\"_ _3\"></span>venu<span class=\"_ _3\"></span>e reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>otent<span class=\"_ _3\"></span>ial cre<span class=\"_ _3\"></span>dit r<span class=\"_ _3\"></span>isk an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r recordi<span class=\"_ _3\"></span>ng a ba<span class=\"_ _3\"></span>d deb<span class=\"_ _3\"></span>t rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve on e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins the b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt re<span class=\"_ _3\"></span>ser<span class=\"_ _1\"></span>ve in 2020 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to 54% of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables ov<span class=\"_ _0\"></span>erdue more<span class=\"_ _0\"></span> than 180 da<span class=\"_ _0\"></span>ys.(a<span class=\"_ _0\"></span>) Short ter<span class=\"_ _0\"></span>m inves<span class=\"_ _0\"></span>tments and<span class=\"_ _0\"></span> deposits:Th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>its d<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>t car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y a ma<span class=\"_ _3\"></span>te<span class=\"ls4 ws4\">-</span>ria<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k of chan<span class=\"_ _3\"></span>ge i<span class=\"_ _3\"></span>n va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.At closi<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>ate, all s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s include<span class=\"_ _0\"></span>:Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _28d\"> </span><span class=\"ls198 ws26e\">2022</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _ad\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _65\"> </span><span class=\"ls198 ws26e\">2020</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ateDep<span class=\"_ _3\"></span>osits in USD<span class=\"_ _245\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>8<span class=\"_ _62\"> </span>4.<span class=\"_ _3\"></span>22%<span class=\"_ _255\"> </span>1<span class=\"_ _3\"></span>41<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24<span class=\"_ _63\"> </span>0.<span class=\"_ _3\"></span>09%<span class=\"_ _235\"> </span><span class=\"lse0 wsfd\">71<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>839<span class=\"_ _6a\"> </span>0.70%</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n EUR<span class=\"_ _203\"> </span>19,<span class=\"_ _0\"></span>000<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>25%<span class=\"_ _1ef\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1f6\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _1f6\"> </span>-</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n HKD<span class=\"_ _24e\"> </span>9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>79<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>%<span class=\"_ _68\"> </span>45,0<span class=\"_ _3\"></span>57<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">0.27<span class=\"_ _3\"></span>%<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _1ef\"> </span>-De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n INR<span class=\"_ _159\"> </span>1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.97<span class=\"_ _3\"></span>%<span class=\"_ _25c\"> </span>2,7<span class=\"_ _0\"></span>63<span class=\"_ _11\"> </span>4.<span class=\"_ _3\"></span>10%<span class=\"_ _81\"> </span><span class=\"ls89 wsa4\">3,175<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">3<span class=\"_ _3\"></span>.61<span class=\"_ _3\"></span>%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n CNY<span class=\"_ _266\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _6a\"> </span>9,<span class=\"_ _3\"></span>36<span class=\"_ _3\"></span>8<span class=\"_ _25c\"> </span>2.1<span class=\"_ _3\"></span>1%<span class=\"_ _65\"> </span><span class=\"lsee ws10b\">6,<span class=\"_ _3\"></span>232<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>8%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s<span class=\"_ _19a\"> </span><span class=\"lsed ws10a\">2,307<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _16b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>291<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">1,<span class=\"_ _3\"></span>839<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"></span>53,<span class=\"_ _3\"></span>142<span class=\"_ _18a\"> </span><span class=\"lse7 ws104\">19<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>80<span class=\"_ _3\"></span>2<span class=\"_ _a1\"> </span><span class=\"ls131 ws161\">83,086</span></span>Cas<span class=\"_ _3\"></span>h in Ho<span class=\"_ _3\"></span>ng Ko<span class=\"_ _3\"></span>ng wa<span class=\"_ _3\"></span>s use<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e repa<span class=\"_ _3\"></span>ym<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s in Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 17<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e purch<span class=\"_ _3\"></span>ase of oth<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow reg<span class=\"_ _3\"></span>ulato<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>old l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s in H<span class=\"_ _3\"></span>KD in 2022 compar<span class=\"_ _0\"></span>ed t<span class=\"_ _0\"></span>o 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>r dep<span class=\"_ _3\"></span>osi<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s in U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d HKD in 202<span class=\"_ _3\"></span>1 are h<span class=\"_ _3\"></span>eld in th<span class=\"_ _3\"></span>e accord<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed, avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g FX i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t &amp; loss<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imiz<span class=\"_ _3\"></span>ing y<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>ld (by avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive y<span class=\"_ _3\"></span>iel<span class=\"_ _3\"></span>ds in EUR<span class=\"_ _3\"></span>).Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are conve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tib<span class=\"_ _3\"></span>le to kn<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>hree a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>elve m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs fro<span class=\"_ _3\"></span>m ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n. De<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m (be<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n zero and t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs), highly liquid<span class=\"_ _0\"></span> investments, which<span class=\"_ _0\"></span> are r<span class=\"_ _0\"></span>eadily con<span class=\"_ _0\"></span>ver<span class=\"_ _3\"></span>tible t<span class=\"_ _0\"></span>o kno<span class=\"_ _3\"></span>wn am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h.Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>e, an<span class=\"_ _3\"></span>d exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nt po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, are pa<span class=\"_ _3\"></span>yab<span class=\"_ _3\"></span>le as fo<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>s:Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>1<span class=\"_ _5b\"> </span>Per 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2020Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _1ff\"> </span><span class=\"lse3 ws100\">9,78<span class=\"_ _3\"></span>4<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2023<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>28<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 202<span class=\"_ _3\"></span>2<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">9<span class=\"_ _0\"></span>,883</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8<span class=\"_ _3\"></span>,081<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 2024<span class=\"_ _263\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>24<span class=\"_ _e9\"> </span></span>P<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le in 20<span class=\"_ _3\"></span>23<span class=\"_ _14d\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _4\"> </span>4</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lse7 ws104\">5,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>59<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le in 2<span class=\"_ _3\"></span>025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,883<span class=\"_ _e8\"> </span></span>Payab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _14d\"> </span><span class=\"lsdc wsf9\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2027<span class=\"_ _14d\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>,535<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">3,799<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,083</span>La<span class=\"_ _3\"></span>ter<span class=\"_ _a0\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _e9\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _291\"> </span><span class=\"ls3c ws48\">9,679<span class=\"_ _11d\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _93\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>168</span>T<span class=\"_ _0\"></span>otal l<span class=\"_ _0\"></span>ong-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _be\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>4,625<span class=\"_ _e8\"> </span></span>T<span class=\"_ _0\"></span>otal<span class=\"_ _0\"></span> long-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _cc\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"> </span>2<span class=\"_ _e9\"> </span></span>T<span class=\"_ _0\"></span>otal long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debts<span class=\"_ _22a\"> </span><span class=\"lsf9 ws116\">41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>1</span>20. Risk management - derivative financial instrumentsGe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>scri<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>r\u2019s rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t \u201c<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k F<span class=\"_ _0\"></span>actors<span class=\"_ _0\"></span>\u201d<span class=\"_ _0\"></span>. De<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are use<span class=\"_ _3\"></span>d to redu<span class=\"_ _3\"></span>ce th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sure to fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s in fore<span class=\"_ _3\"></span>ign e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d inte<span class=\"_ _3\"></span>rest rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are sub<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ct to th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f mar<span class=\"_ _3\"></span>ket rates ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt to acqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s are ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et by op<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>ite ef<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e item be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed.Foreign currency riskRecogniz<span class=\"_ _0\"></span>ed assets and liabilitiesBarco in<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>s forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>k on reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re den<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ated in a cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s loc<span class=\"_ _3\"></span>al cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy. Such r<span class=\"_ _3\"></span>isk<span class=\"_ _3\"></span>s may b<span class=\"_ _3\"></span>e nat<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>lly cov<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tem at th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et sid<span class=\"_ _3\"></span>e (su<span class=\"_ _3\"></span>ch as a tra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>r cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>) in a g<span class=\"_ _3\"></span>iven cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy i<span class=\"_ _3\"></span>s matche<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y ite<span class=\"_ _3\"></span>m at th<span class=\"_ _3\"></span>e liab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sid<span class=\"_ _3\"></span>e (such a<span class=\"_ _3\"></span>s a tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>le or lo<span class=\"_ _3\"></span>an) in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Forward<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contracts a<span class=\"_ _0\"></span>nd selectivel<span class=\"_ _0\"></span>y option c<span class=\"_ _0\"></span>ontracts are use<span class=\"_ _3\"></span>d to man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e curren<span class=\"_ _3\"></span>cy r<span class=\"_ _3\"></span>isk a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom reco<span class=\"_ _3\"></span>gnized rec<span class=\"_ _0\"></span>eivables and pay<span class=\"_ _0\"></span>ab<span class=\"_ _3\"></span>les, whic<span class=\"_ _0\"></span>h are no<span class=\"_ _0\"></span>t naturally<span class=\"_ _0\"></span> hedge<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces o<span class=\"_ _3\"></span>n foreig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y items are v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ed at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>reva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re used to re<span class=\"_ _3\"></span>duce the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re rated in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span> at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue. B<span class=\"_ _3\"></span>oth ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>nd in fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>come s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Forecasted<span class=\"_ _0\"></span> transactionsBarc<span class=\"_ _0\"></span>o selectively<span class=\"_ _0\"></span> designates<span class=\"_ _0\"></span> forward con<span class=\"_ _0\"></span>tract<span class=\"_ _3\"></span>s t<span class=\"_ _0\"></span>o for<span class=\"_ _0\"></span>ecasted sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. He<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g is a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to the<span class=\"_ _3\"></span>se con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in or lo<span class=\"_ _3\"></span>ss o<span class=\"_ _3\"></span>n the h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent t<span class=\"_ _3\"></span>hat w<span class=\"_ _3\"></span>ill be d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d as an e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive h<span class=\"_ _3\"></span>edg<span class=\"_ _3\"></span>e is reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e. At 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no f<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>ward c<span class=\"_ _0\"></span>ontracts outstanding<span class=\"_ _0\"></span> under hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _0\"></span> treatment<span class=\"_ _3\"></span>.Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to cu<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y fluc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>sSe<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _1\"></span>y to curren<span class=\"_ _3\"></span>cy f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns is m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of a p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s (mai<span class=\"_ _3\"></span>nly U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d CNY<span class=\"_ _3\"></span>) ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro. T<span class=\"_ _3\"></span>his se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing fact<span class=\"_ _0\"></span>ors:\u2022 <span class=\"_ _119\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>one<span class=\"_ _3\"></span>tar<span class=\"_ _1\"></span>y items is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ate mos<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>ese e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s in fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Barco use<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tems an<span class=\"_ _3\"></span>d/or der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>s des<span class=\"_ _3\"></span>crib<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>bove<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch are me<span class=\"_ _3\"></span>ant to of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f such re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>s to a ma<span class=\"_ _3\"></span>jor e<span class=\"_ _3\"></span>xte<span class=\"_ _3\"></span>nt.\u2022 <span class=\"_ _141\"> </span>A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y has n<span class=\"_ _3\"></span>o cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce that a<span class=\"_ _3\"></span>im at he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reca<span class=\"_ _3\"></span>sted t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s, a si<span class=\"_ _3\"></span>mil<span class=\"_ _3\"></span>ar f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n in forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renci<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>uld n<span class=\"_ _3\"></span>ot have a<span class=\"_ _3\"></span>ny ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y positi<span class=\"_ _3\"></span>on of Barco.\u2022 <span class=\"_ _24\"> </span>Profit m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ins m<span class=\"_ _3\"></span>ay be n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>se an imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s are rea<span class=\"_ _3\"></span>lized in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s, whi<span class=\"_ _3\"></span>le cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re incu<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>n a sm<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>r pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco has d<span class=\"_ _3\"></span>one g<span class=\"_ _3\"></span>reat ef<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>rs to inc<span class=\"_ _3\"></span>rease it<span class=\"_ _3\"></span>s na<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>al h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g rat<span class=\"_ _3\"></span>io in US<span class=\"_ _3\"></span>D (be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g its m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy in te<span class=\"_ _3\"></span>rms of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es) by in<span class=\"_ _3\"></span>creasin<span class=\"_ _3\"></span>g it<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d by p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g mo<span class=\"_ _3\"></span>re comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>his curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y. Impac<span class=\"_ _3\"></span>t on a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted EB<span class=\"_ _3\"></span>IT is cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>tly es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated at 20.0 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e wei<span class=\"_ _3\"></span>ghted a<span class=\"_ _3\"></span>vera<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate of a for<span class=\"_ _0\"></span>eign curr<span class=\"_ _0\"></span>ency basket,<span class=\"_ _0\"></span> that has an<span class=\"_ _0\"></span> overall<span class=\"_ _0\"></span> overweight of<span class=\"_ _0\"></span> USD &amp; CNY, chang<span class=\"_ _3\"></span>es by 10% ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro in a yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he overa<span class=\"_ _3\"></span>ll n<span class=\"_ _3\"></span>atur<span class=\"_ _3\"></span>al he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e rat<span class=\"_ _3\"></span>io of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cies rea<span class=\"_ _3\"></span>che<span class=\"_ _3\"></span>d a leve<span class=\"_ _3\"></span>l of 71<span class=\"_ _3\"></span>% in 2022 (202<span class=\"_ _3\"></span>1: 73%<span class=\"_ _3\"></span>).\u2022<span class=\"ff4 ls29 wsb\"> <span class=\"_ _2a\"> </span>An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>s the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t tha<span class=\"_ _3\"></span>t som<span class=\"_ _3\"></span>e of Ba<span class=\"_ _3\"></span>rco\u2019s compe<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span></span><span class=\"ff4\">-</span>tors a<span class=\"_ _3\"></span>re USD<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Whe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ver th<span class=\"_ _3\"></span>e USD de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e euro, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>etito<span class=\"_ _3\"></span>rs have a wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pet<span class=\"_ _3\"></span>itive a<span class=\"_ _3\"></span>dv<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e over Ba<span class=\"_ _3\"></span>rco. Thi<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng resul<span class=\"_ _0\"></span>t cannot be mea<span class=\"_ _0\"></span>sured r<span class=\"_ _0\"></span>eliably<span class=\"_ _0\"></span>.Interest rate riskBarco use<span class=\"_ _3\"></span>s foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate ris<span class=\"_ _3\"></span>k:Swap o<span class=\"_ _3\"></span>n out<span class=\"_ _3\"></span>sta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng or a<span class=\"_ _3\"></span>ntic<span class=\"_ _3\"></span>ipate<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowin<span class=\"_ _3\"></span>gBarco con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed a s<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>es of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>s with a<span class=\"_ _3\"></span>n out<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g not<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nal a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro by mea<span class=\"_ _3\"></span>ns of a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ial h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r the b<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l real e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ate leasi<span class=\"_ _3\"></span>ng (cur<span class=\"_ _3\"></span>rentl<span class=\"_ _3\"></span>y out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng at 16.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) for the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>ng of B<span class=\"_ _3\"></span>arco's HQ ca<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>us st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n 2016. T<span class=\"_ _3\"></span>his in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>ps the v<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te into a fixe<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.76%. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sw<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve hed<span class=\"_ _3\"></span>ge of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g or a<span class=\"_ _3\"></span>ntici<span class=\"_ _3\"></span>pated b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d me<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e he<span class=\"_ _3\"></span>dgi<span class=\"_ _3\"></span>ng re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 39. Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e hed<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>re th<span class=\"_ _3\"></span>erefore rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed dir<span class=\"_ _0\"></span>ectly in<span class=\"_ _0\"></span> comprehen<span class=\"_ _0\"></span>sive inc<span class=\"_ _0\"></span>ome under hedge<span class=\"_ _0\"></span> acc<span class=\"_ _0\"></span>ounting treatment. Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuati<span class=\"_ _3\"></span>onsCha<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s in in<span class=\"_ _3\"></span>teres<span class=\"_ _3\"></span>t rate are clo<span class=\"_ _3\"></span>sel<span class=\"_ _3\"></span>y follow<span class=\"_ _3\"></span>ed up by<span class=\"_ _0\"></span> management.With refe<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>ce to the fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low, just o<span class=\"_ _3\"></span>ver 60% of Barco\u2019s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o has a f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d inter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate cha<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>ter, <span class=\"_ _0\"></span>w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch lim<span class=\"_ _3\"></span>its t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpo<span class=\"_ _3\"></span>sure of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany to interes<span class=\"_ _3\"></span>t rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>is rat<span class=\"_ _3\"></span>io in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s to 83% wh<span class=\"_ _3\"></span>en inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d ab<span class=\"_ _3\"></span>ove.Credit riskCre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s re<span class=\"_ _3\"></span>cei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>leCredit e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>irin<span class=\"_ _3\"></span>g credit ov<span class=\"_ _3\"></span>er a cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk i<span class=\"_ _3\"></span>s mon<span class=\"_ _3\"></span>itored o<span class=\"_ _3\"></span>n a conti<span class=\"_ _3\"></span>nuo<span class=\"_ _3\"></span>us ba<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>. In a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s colla<span class=\"_ _3\"></span>tera<span class=\"_ _3\"></span>l is be<span class=\"_ _3\"></span>ing requ<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>efore a cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k is accep<span class=\"_ _3\"></span>ted. S<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ce ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s let<span class=\"_ _3\"></span>ters of cre<span class=\"_ _3\"></span>dit an<span class=\"_ _3\"></span>d bi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>s of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e are regu<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>rly us<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to min<span class=\"_ _3\"></span>imize th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk<span class=\"_ _3\"></span>. In 2022, B<span class=\"_ _3\"></span>arco conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to cover cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>ks o<span class=\"_ _3\"></span>n sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers o<span class=\"_ _3\"></span>r la<span class=\"_ _3\"></span>rge con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s on a c<span class=\"_ _3\"></span>ase b<span class=\"_ _3\"></span>y case b<span class=\"_ _3\"></span>asi<span class=\"_ _3\"></span>s. Cre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>curit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _0\"></span>te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>sA po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g accept<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le cou<span class=\"_ _3\"></span>nter pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e max<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ris<span class=\"_ _3\"></span>k pe<span class=\"_ _3\"></span>r counter p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s in pl<span class=\"_ _3\"></span>ace. S<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs or i<span class=\"_ _3\"></span>n fixe<span class=\"_ _3\"></span>d term deposits wit<span class=\"_ _0\"></span>h reputable banks.Th<span class=\"_ _3\"></span>e so<span class=\"_ _3\"></span>lven<span class=\"_ _3\"></span>cy p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r curren<span class=\"_ _3\"></span>t rati<span class=\"_ _3\"></span>os cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>e to con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ate at hea<span class=\"_ _3\"></span>lthy le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>get<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r wit<span class=\"_ _3\"></span>h the e<span class=\"_ _3\"></span>xis<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted credit f<span class=\"_ _3\"></span>aci<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>nsid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t it has s<span class=\"_ _3\"></span>ecure<span class=\"_ _3\"></span>d a hea<span class=\"_ _3\"></span>lthy li<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>idit<span class=\"_ _1\"></span>y profi<span class=\"_ _3\"></span>le an<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>rong c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>e for th<span class=\"_ _3\"></span>e fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e gro<span class=\"_ _3\"></span>up.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-73-4": {
   "value": "Defined benefit<span class=\"_ _0\"></span> obligationsTh<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an (se<span class=\"_ _3\"></span>e note 19) an<span class=\"_ _3\"></span>d the p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re deter<span class=\"ls4 ws4\">-</span>mined us<span class=\"_ _0\"></span>ing actuarial<span class=\"_ _0\"></span> valuations. An<span class=\"_ _0\"></span> actuarial valu<span class=\"_ _0\"></span>ation inv<span class=\"_ _0\"></span>olves making v<span class=\"_ _0\"></span>arious assump<span class=\"_ _0\"></span>tions that<span class=\"_ _0\"></span> may di<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fer fr<span class=\"_ _0\"></span>om actual<span class=\"_ _0\"></span> devel<span class=\"ls4 ws4\">-</span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion of the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate, f<span class=\"_ _3\"></span>uture s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rate<span class=\"_ _3\"></span>s and fut<span class=\"_ _3\"></span>ure pe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lexi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s invo<span class=\"_ _3\"></span>lved i<span class=\"_ _3\"></span>n the v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term n<span class=\"_ _3\"></span>ature, a d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is hig<span class=\"_ _3\"></span>hly s<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ve to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. All a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns are rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>ed on re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost in 202<span class=\"_ _3\"></span>1 was 5<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>an 2020, but s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l 46 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pre covi<span class=\"_ _3\"></span>d level a<span class=\"_ _3\"></span>s a result of t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y measur<span class=\"_ _0\"></span>es and exec<span class=\"_ _0\"></span>uted r<span class=\"_ _0\"></span>estructuring lay-offs In 2020 an<span class=\"_ _3\"></span>d 2021 th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o ent<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ed sh<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>ann<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>terns o<span class=\"_ _3\"></span>n se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d a sus<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d str<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t disci<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>n dis<span class=\"_ _3\"></span>cretio<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y sp<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (e.g. t<span class=\"_ _3\"></span>rave<span class=\"_ _3\"></span>l, m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g spe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, cons<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>,\u2026 )<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any ma<span class=\"_ _3\"></span>de de<span class=\"_ _3\"></span>lib<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ate cho<span class=\"_ _3\"></span>ices on t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd ti<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le of se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted i<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in fu<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e focus s<span class=\"_ _3\"></span>hif<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is ha<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>lted in 8 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2020: 32.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro) lower s<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>vice<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce in 2022 a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n ser<span class=\"_ _1\"></span>vices a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r co<span class=\"_ _0\"></span>st<span class=\"_ _3\"></span>s, toget<span class=\"_ _0\"></span>her with higher i<span class=\"_ _0\"></span>nflation and c<span class=\"_ _0\"></span>ontractors hir<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> fi<span class=\"_ _3\"></span>ll temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y g<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r recr<span class=\"_ _3\"></span>uiti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.(see <span class=\"_ _3\"></span><span class=\"fc2 lsf ws38\">note<span class=\"_ _0\"></span> 5. Restructuring and impairments<span class=\"_ _0\"></span><span class=\"fc0 ls2d ws1a\">) to a<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s </span></span>wit<span class=\"_ _3\"></span>h lower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d as a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny ha<span class=\"_ _3\"></span>s implement<span class=\"_ _0\"></span>ed temporary work arr<span class=\"_ _0\"></span>angem<span class=\"_ _3\"></span>ents and ec<span class=\"_ _0\"></span>onomic un<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s as of 2020 for b<span class=\"_ _3\"></span>oth w<span class=\"_ _3\"></span>hite an<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>lue coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in con<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h count<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l fr<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>wor<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulations. Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020 ca<span class=\"_ _3\"></span>n be ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed by re<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ced une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures<span class=\"_ _3\"></span>, low<span class=\"_ _3\"></span>er wa<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>die<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>ved a<span class=\"_ _3\"></span>nd me<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>s (se<span class=\"_ _3\"></span>e \u2018Re<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t for f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l yea<span class=\"_ _3\"></span>r 2021\u2019 in corporat<span class=\"_ _0\"></span>e gov<span class=\"_ _0\"></span>ernance chap<span class=\"_ _0\"></span>ter)<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to ap<span class=\"_ _3\"></span>ply fo<span class=\"_ _3\"></span>r wag<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the ena<span class=\"_ _3\"></span>cted Co<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>-19 re<span class=\"_ _3\"></span>lief le<span class=\"_ _3\"></span>gis<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n APAC and C<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>da for 0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (2020: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, the<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>so i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g Cinionic<span class=\"_ _0\"></span> US)<span class=\"_ _0\"></span>.Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost i<span class=\"_ _3\"></span>n 2022 is 4<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>han 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, as a resu<span class=\"_ _3\"></span>lt of in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n and h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco\u2019s ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y r<span class=\"_ _3\"></span>ate is incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g ag<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d we saw an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of f<span class=\"_ _3\"></span>ull<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster of 202<span class=\"_ _3\"></span>2, an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y personnel compar<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> 2021.a) Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>nel c<span class=\"_ _3\"></span>ostIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Wages<span class=\"_ _0\"></span> and salaries<span class=\"_ _ac\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1ef\"> </span><span class=\"ls106 ws123\">-194,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>51<span class=\"_ _ae\"> </span><span class=\"lsfb ws118\">-189,654</span></span>So<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _f6\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _150\"> </span><span class=\"lsf0 ws10d\">-26<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>42<span class=\"_ _144\"> </span><span class=\"lsfe ws11b\">-25,494</span></span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e for d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _23b\"> </span>-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>859<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>339</span>T<span class=\"_ _0\"></span>emporary labour<span class=\"_ _23c\"> </span>-<span class=\"_ _3\"></span>4,004<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>61<span class=\"_ _90\"> </span><span class=\"lsed ws10a\">-2,388</span></span>Recruiting expenses<span class=\"_ _1b8\"> </span>-2,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span>-1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>52</span>Other personnel c<span class=\"_ _0\"></span>ost<span class=\"_ _23d\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>8<span class=\"_ _cb\"> </span><span class=\"lsf5 ws112\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,301<span class=\"_ _cb\"> </span><span class=\"lsed ws10a\">-2,<span class=\"_ _0\"></span>966</span></span>Personnel cost<span class=\"_ _23c\"> </span>-2<span class=\"_ _0\"></span>89,308<span class=\"_ _8d\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>03<span class=\"_ _8d\"> </span>-2<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2</span>Personnel c<span class=\"_ _0\"></span>ost incl<span class=\"_ _0\"></span>udes the co<span class=\"_ _0\"></span>st for t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y personnel for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 4 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (in 202<span class=\"_ _3\"></span>1: 1.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, i<span class=\"_ _3\"></span>n 2020: 2.4 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro). 19. ProvisionsBa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce<span class=\"ls4 ws4\"> </span>AdditionalAmo<span class=\"_ _3\"></span>untsUnu<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts Remeasur<span class=\"_ _0\"></span>ement T<span class=\"_ _0\"></span>ranslation Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nceIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroshe<span class=\"_ _3\"></span>et 2022provis<span class=\"_ _0\"></span>ions madeuse<span class=\"_ _3\"></span>d rever<span class=\"_ _3\"></span>sed<span class=\"_ _c2\"> </span><span class=\"ls7c ws96\">T<span class=\"_ _0\"></span>ransfers</span>gains/<span class=\"_ _0\"></span>(losses) on<span class=\"_ _0\"></span> DBO(losses)<span class=\"_ _0\"></span> / gainsshe<span class=\"_ _3\"></span>et 2021she<span class=\"_ _3\"></span>et 2020T<span class=\"_ _0\"></span>otal long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> provision<span class=\"_ _be\"> </span>14,99<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>3,3<span class=\"_ _3\"></span>92<span class=\"_ _10c\"> </span>-<span class=\"_ _0\"></span>1,23<span class=\"_ _0\"></span>3<span class=\"_ _1d1\"> </span>-<span class=\"_ _25c\"> </span>-7<span class=\"_ _1\"></span>8<span class=\"_ _88\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _73\"> </span>137<span class=\"_ _10c\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>75<span class=\"_ _3a\"> </span><span class=\"ls109 ws126\">40,156</span></span>Defined<span class=\"_ _0\"></span> benefit<span class=\"_ _0\"></span> obligation<span class=\"_ _0\"></span>s <span class=\"_ _a3\"> </span><span class=\"fs7b fc0 ls138 ws167\">(<span class=\"_ _3\"></span>b)</span>4,891<span class=\"_ _e1\"> </span>1,<span class=\"_ _3\"></span>529<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,01<span class=\"_ _3\"></span>9<span class=\"_ _28b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1ef\"> </span></span>-18,<span class=\"_ _3\"></span>395<span class=\"_ _25c\"> </span>-<span class=\"_ _3\"></span>49<span class=\"_ _4b\"> </span><span class=\"lsf0 ws10d\">2<span class=\"_ _3\"></span>2,8<span class=\"_ _3\"></span>26<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>10,0<span class=\"_ _3\"></span>87<span class=\"_ _e1\"> </span>1,862<span class=\"_ _63\"> </span>-21<span class=\"_ _3\"></span>5<span class=\"_ _28b\"> </span>-<span class=\"_ _81\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _28b\"> </span></span>-<span class=\"_ _25c\"> </span>185<span class=\"_ _255\"> </span><span class=\"lsee ws10b\">8,<span class=\"_ _3\"></span>332<span class=\"_ _255\"> </span><span class=\"ls42 ws6f\">8,857</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>20<span class=\"_ _44\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _101\"> </span>2<span class=\"_ _e1\"> </span><span class=\"lsfb ws118\">18<span class=\"_ _bc\"> </span>18</span>T<span class=\"_ _0\"></span>otal short<span class=\"_ _0\"></span>-t<span class=\"_ _0\"></span>erm provision<span class=\"_ _cc\"> </span>9,<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>5<span class=\"_ _7e\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4<span class=\"_ _151\"> </span>-2,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _e1\"> </span>78<span class=\"_ _1d1\"> </span>-<span class=\"_ _7e\"> </span>89<span class=\"_ _10\"> </span><span class=\"ls89 wsa4\">8,<span class=\"_ _3\"></span>537<span class=\"_ _4b\"> </span><span class=\"ls36 ws40\">13,720</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>4,<span class=\"_ _3\"></span>816<span class=\"_ _1b0\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>161<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>285<span class=\"_ _28b\"> </span>-<span class=\"_ _e1\"> </span><span class=\"lsea ws107\">78<span class=\"_ _230\"> </span></span><span class=\"ff5\">-<span class=\"_ _e1\"> </span></span>55<span class=\"_ _10\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>807<span class=\"_ _70\"> </span><span class=\"lsdd wsfa\">4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2</span></span>Restructuring<span class=\"_ _0\"></span> provis<span class=\"_ _0\"></span>ion <span class=\"_ _96\"> </span><span class=\"fs7b fc0 lsf0 ws10d\">(c)</span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>2,500<span class=\"_ _10\"> </span>-1,2<span class=\"_ _0\"></span>11<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1d1\"> </span><span class=\"ff5\">-<span class=\"_ _d0\"> </span></span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">458<span class=\"_ _7b\"> </span><span class=\"lsef ws10c\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>2,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,083<span class=\"_ _9c\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>208<span class=\"_ _1ed\"> </span>-1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>20<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _103\"> </span><span class=\"ff5\">-<span class=\"_ _7e\"> </span></span><span class=\"ls108 ws125\">34<span class=\"_ _70\"> </span><span class=\"lsf5 ws112\">4,<span class=\"_ _3\"></span>272<span class=\"_ _255\"> </span></span></span></span></span>5,055</span>Provisions<span class=\"_ _2a7\"> </span>24,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _7e\"> </span>8,1<span class=\"_ _3\"></span>36<span class=\"_ _10c\"> </span>-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>7<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _d7\"> </span>-<span class=\"_ _ae\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _11\"> </span>226<span class=\"_ _151\"> </span><span class=\"lse7 ws104\">39,71<span class=\"_ _3\"></span>2<span class=\"_ _4b\"> </span><span class=\"ls89 wsa4\">53,<span class=\"_ _3\"></span>876</span></span>(b)<span class=\"_ _0\"></span> Defined benefit obliga<span class=\"_ _0\"></span>tionsA<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, the d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it obligation<span class=\"_ _0\"></span>s are<span class=\"_ _0\"></span> composed<span class=\"_ _0\"></span> of:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _2a8\"> </span>732<span class=\"_ _4b\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span> <span class=\"_ _4e\"> </span></span> 26,1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>0 Early r<span class=\"_ _0\"></span>etirement<span class=\"_ _0\"></span> plans in Belgi<span class=\"_ _0\"></span>um<span class=\"_ _2a9\"> </span>104<span class=\"_ _6a\"> </span><span class=\"ls4 ws4\"> 155 <span class=\"_ _235\"> </span> 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3 </span>Local l<span class=\"_ _0\"></span>egal requir<span class=\"_ _0\"></span>ements (mainly<span class=\"_ _0\"></span> Italy,<span class=\"_ _0\"></span> Korea,<span class=\"_ _0\"></span> Japan, Germany<span class=\"_ _0\"></span>, F<span class=\"_ _0\"></span>rance)<span class=\"_ _118\"> </span>3<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"lse7 ws104\"> 4,59<span class=\"_ _3\"></span>0 <span class=\"_ _151\"> </span><span class=\"ls4 ws4\"> 4,75<span class=\"_ _3\"></span>4 </span></span>A small<span class=\"_ _0\"></span> number of i<span class=\"_ _0\"></span>ndividual plans<span class=\"_ _2aa\"> </span>293<span class=\"_ _63\"> </span><span class=\"lsf7 ws114\"> 246<span class=\"_ _3\"></span> <span class=\"_ _235\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>25 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _2ab\"> </span>4,891<span class=\"_ _4a\"> </span><span class=\"ls4 ws4\"> 22<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>26 <span class=\"_ _52\"> </span><span class=\"ls19a ws26f\"> 31,2<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span> </span></span>Belgian r<span class=\"_ _0\"></span>egulations r<span class=\"_ _0\"></span>equire tha<span class=\"_ _0\"></span>t the minimum<span class=\"_ _0\"></span> guaranteed ra<span class=\"_ _0\"></span>te of retur<span class=\"_ _3\"></span>n on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer a<span class=\"_ _3\"></span>nd p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>ant con<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing to 1<span class=\"_ _3\"></span>.75%<span class=\"_ _3\"></span>, is an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ally re<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a risk-<span class=\"_ _3\"></span>fre<span class=\"_ _3\"></span>e rate of 10<span class=\"_ _3\"></span>-y<span class=\"_ _3\"></span>ear g<span class=\"_ _3\"></span>overn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt bo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>ccordin<span class=\"_ _3\"></span>g to IA<span class=\"_ _3\"></span>S19, Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at gu<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>ntee a sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d retur<span class=\"_ _3\"></span>n on contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer<span class=\"_ _3\"></span> is not re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>onsi<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>ut ha<span class=\"_ _3\"></span>s to cover th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t risk u<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>l the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l mi<span class=\"_ _3\"></span>nim<span class=\"_ _3\"></span>um ra<span class=\"_ _3\"></span>tes ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cable. The r<span class=\"_ _0\"></span>eturns guaran<span class=\"_ _0\"></span>teed by<span class=\"_ _0\"></span> the insurance<span class=\"_ _0\"></span> companies are in m<span class=\"_ _3\"></span>ost c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um retu<span class=\"_ _3\"></span>rn gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed by l<span class=\"_ _3\"></span>aw. As a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as not f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ly he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s retur<span class=\"_ _3\"></span>n risk t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh a<span class=\"_ _3\"></span>n insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d a prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>eds to b<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>nted for. The p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns at Ba<span class=\"_ _3\"></span>rco are fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ced thro<span class=\"_ _3\"></span>ugh g<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>nsur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s are b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span><span class=\"ws4\">-</span>fit<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g from a con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d by the i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. When t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, th<span class=\"_ _3\"></span>is wi<span class=\"_ _3\"></span>ll be cove<span class=\"_ _3\"></span>red by the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>is is ins<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e req<span class=\"_ _3\"></span>ues<span class=\"_ _3\"></span>ted. IA<span class=\"_ _3\"></span>S 19 re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>res an e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y to reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ze a liabi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n an emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to be pa<span class=\"_ _3\"></span>id in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>erefore, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns are set<span class=\"_ _3\"></span>up. T<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured o<span class=\"_ _3\"></span>n a dis<span class=\"_ _3\"></span>counte<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use th<span class=\"_ _3\"></span>ey a<span class=\"_ _3\"></span>re set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d many ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>r the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice. A q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y has d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are he<span class=\"_ _3\"></span>ld by an i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. The p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted u<span class=\"_ _3\"></span>nit cred<span class=\"_ _3\"></span>it me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d was u<span class=\"_ _3\"></span>sed to es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mate th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, the d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it cos<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re 15 de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s in Ba<span class=\"_ _3\"></span>rco Belg<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m, for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch we sh<span class=\"_ _3\"></span>ow be<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>e a<span class=\"_ _3\"></span>ggre<span class=\"_ _3\"></span>gated v<span class=\"_ _3\"></span>iew a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>o not d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>fer mat<span class=\"_ _0\"></span>erially fr<span class=\"_ _0\"></span>om characteri<span class=\"_ _0\"></span>stics<span class=\"_ _3\"></span>, r<span class=\"_ _0\"></span>egulatory environment,<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt or f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ar<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. I<span class=\"_ _3\"></span>n accord<span class=\"_ _3\"></span>ance w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>AS 19 th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re is in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f a wei<span class=\"_ _3\"></span>ghted ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge.2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>an d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f pl<span class=\"_ _3\"></span>an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s:2022<span class=\"_ _2ac\"> </span>2021<span class=\"_ _2ac\"> </span>2020De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroobligationassetsliabilityobligationassetsliabilityobligationassetsliabilityPen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on co<span class=\"_ _3\"></span>st c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d to P/LOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _256\"> </span>13<span class=\"_ _3\"></span>0,<span class=\"_ _1\"></span>214<span class=\"_ _12e\"> </span>-112,37<span class=\"_ _0\"></span>8<span class=\"_ _c3\"> </span><span class=\"ff5 ls199 wsd9\">1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _e7\"> </span></span> 134,340<span class=\"_ _0\"></span> <span class=\"_ _c5\"> </span><span class=\"ls106 ws123\"> -108<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>50 <span class=\"_ _4c\"> </span><span class=\"ff5 ls4 ws4\"> 26<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>90 <span class=\"_ _e7\"> </span></span><span class=\"lsf7 ws114\"> 1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> <span class=\"_ _c5\"> </span></span> -100<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>5 <span class=\"_ _1a0\"> </span><span class=\"ff5 ls167 ws22d\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>31 </span></span>Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce cos<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"ls89 wsa4\">5,575<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _51\"> </span><span class=\"ff5 lsee ws10b\">5,<span class=\"_ _3\"></span>575<span class=\"_ _d4\"> </span></span> 5<span class=\"_ _3\"></span>,639 <span class=\"_ _71\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 5,<span class=\"_ _3\"></span>639 <span class=\"_ _17e\"> </span></span><span class=\"ls19c ws271\"> 7,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _7b\"> </span></span>-<span class=\"_ _53\"> </span><span class=\"ff5 ls199 wsd9\"> 7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span>Net i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _f4\"> </span>987<span class=\"_ _f\"> </span>-<span class=\"_ _3\"></span>862<span class=\"_ _3d\"> </span><span class=\"ff5 ls10e ws12b\">126<span class=\"_ _fe\"> </span></span> 3<span class=\"_ _3\"></span>88 <span class=\"_ _51\"> </span><span class=\"lsde wsfb\"> -<span class=\"_ _3\"></span>310 <span class=\"_ _3d\"> </span></span><span class=\"ff5\"> 78 <span class=\"_ _b8\"> </span></span> 5<span class=\"_ _3\"></span>85 <span class=\"_ _4f\"> </span><span class=\"lsef ws10c\"> -<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span> <span class=\"_ _147\"> </span><span class=\"ff5 ls1a2 ws275\"> 111 </span></span>Decrea<span class=\"_ _0\"></span>se due t<span class=\"_ _0\"></span>o curtailement<span class=\"_ _27c\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s<span class=\"_ _202\"> </span>6,562<span class=\"_ _b8\"> </span>-862<span class=\"_ _bd\"> </span><span class=\"ls10e ws12b\">5,701<span class=\"_ _17e\"> </span></span> 6<span class=\"_ _3\"></span>,026 <span class=\"_ _4f\"> </span><span class=\"ls10d ws12a\"> -310<span class=\"_ _3\"></span> <span class=\"_ _c4\"> </span></span> 5,<span class=\"_ _3\"></span>716 <span class=\"_ _37\"> </span> 8<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>3 <span class=\"_ _98\"> </span><span class=\"ls107 ws124\"> -<span class=\"_ _3\"></span>474<span class=\"_ _3\"></span> <span class=\"_ _df\"> </span><span class=\"lsde wsfb\"> 8,039 </span></span>Benefits paid<span class=\"_ _1db\"> </span>-3,030<span class=\"_ _4f\"> </span>3,030<span class=\"_ _6c\"> </span><span class=\"ff5 ls4 ws4\">-<span class=\"_ _18c\"> </span></span> -2,<span class=\"_ _3\"></span>383 <span class=\"_ _df\"> </span> 2,383 <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _37\"> </span></span> -1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285 <span class=\"_ _c3\"> </span> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285<span class=\"_ _3\"></span> <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _8\"> </span>-   </span>Remeasurement gains<span class=\"_ _0\"></span>/losses in OCIIncre<span class=\"_ _0\"></span>ase due t<span class=\"_ _0\"></span>o effect o<span class=\"_ _0\"></span>f transfers<span class=\"_ _21d\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _6e\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _8\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Ret<span class=\"_ _3\"></span>urn o<span class=\"_ _3\"></span>n p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (exc<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>t inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e)<span class=\"_ _140\"> </span>-<span class=\"_ _53\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _17e\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _1a4\"> </span>-<span class=\"_ _37\"> </span><span class=\"lsde wsfb\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>231 <span class=\"_ _14c\"> </span></span><span class=\"ls36 ws40\"> -<span class=\"_ _0\"></span>2,231 <span class=\"_ _7b\"> </span><span class=\"ff4 ls4 ws4\">-<span class=\"_ _37\"> </span> -2,7<span class=\"_ _3\"></span>33 <span class=\"_ _f9\"> </span></span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 </span></span>Ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m cha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>pt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _294\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>72<span class=\"_ _8e\"> </span></span>-<span class=\"_ _14c\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _df\"> </span></span><span class=\"ls3c ws48\"> -5,679 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 lse3 ws100\"> -5<span class=\"_ _3\"></span>,67<span class=\"_ _3\"></span>9 <span class=\"_ _c3\"> </span></span> 1,69<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>698 </span>Actuarial<span class=\"_ _0\"></span> changes arising<span class=\"_ _0\"></span> from experienc<span class=\"_ _0\"></span>e adjustments<span class=\"_ _107\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>14<span class=\"_ _1a4\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _17e\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _37\"> </span></span><span class=\"lsfe ws11b\"> -2,091 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>1 <span class=\"_ _10f\"> </span></span> 99<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _fe\"> </span><span class=\"ff5\"> 99<span class=\"_ _3\"></span>8 </span></span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in O<span class=\"_ _3\"></span>CI<span class=\"_ _2ad\"> </span>-<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>,186<span class=\"_ _c4\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _fd\"> </span>-<span class=\"_ _0\"></span>18,395<span class=\"_ _df\"> </span> -<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> <span class=\"_ _14c\"> </span> -<span class=\"_ _0\"></span>2,<span class=\"_ _3\"></span>231<span class=\"_ _0\"></span> <span class=\"_ _5a\"> </span> -<span class=\"_ _2\"></span>10,000<span class=\"_ _0\"></span> <span class=\"_ _149\"> </span> 2<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>6 <span class=\"_ _f9\"> </span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 <span class=\"_ _fe\"> </span><span class=\"ls10d ws12a\"> -3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> </span></span>Contributions by<span class=\"_ _0\"></span> emp<span class=\"_ _3\"></span>loyer<span class=\"_ _2ae\"> </span>-<span class=\"_ _37\"> </span>-<span class=\"_ _3\"></span>4,409<span class=\"_ _18c\"> </span><span class=\"ff5 ls131 ws161\">-<span class=\"_ _3\"></span>4,409<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _18c\"> </span><span class=\"ls103 ws120\"> -<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,070<span class=\"_ _3\"></span> <span class=\"_ _108\"> </span></span><span class=\"ff5\"> -<span class=\"_ _3\"></span>4,070 <span class=\"_ _71\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"lse7 ws104\"> -<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 <span class=\"_ _108\"> </span><span class=\"ff5 lsfc ws119\"> -6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 </span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>60<span class=\"_ _f1\"> </span>-<span class=\"_ _0\"></span>115,828<span class=\"_ _4a\"> </span>732<span class=\"_ _e7\"> </span> 1<span class=\"_ _3\"></span>30,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14 <span class=\"_ _ea\"> </span> -1<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span> <span class=\"_ _f9\"> </span> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _59\"> </span> 134,340 <span class=\"_ _ee\"> </span><span class=\"ls109 ws126\"> -1<span class=\"_ _0\"></span>08,1<span class=\"_ _3\"></span>50 <span class=\"_ _14e\"> </span><span class=\"ls4 ws4\"> 26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>190 </span></span>Th<span class=\"_ _3\"></span>e 17 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n2022 ver<span class=\"_ _3\"></span>sus 202<span class=\"_ _3\"></span>1 is ma<span class=\"_ _3\"></span>inly re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d vi<span class=\"_ _3\"></span>a oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>siveinco<span class=\"_ _3\"></span>me as c<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>sed by ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters (s<span class=\"_ _3\"></span>ee b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le):incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate (3.7<span class=\"_ _3\"></span>% vs 0.<span class=\"_ _3\"></span>8%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>edme<span class=\"_ _3\"></span>rit a<span class=\"_ _3\"></span>nd in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in 2022 a<span class=\"_ _3\"></span>nd 2023<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e 8.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in 2021 ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s2020 is mai<span class=\"_ _3\"></span>nly co<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>sed d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (0.<span class=\"_ _3\"></span>8% vs0.<span class=\"_ _3\"></span>3%) a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve retur<span class=\"_ _3\"></span>n on p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, bot<span class=\"_ _3\"></span>h record<span class=\"_ _3\"></span>edvia O<span class=\"_ _3\"></span>CI (eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y), as ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e P&amp;L im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of\u20ac -1.<span class=\"_ _3\"></span>8m is t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult of low<span class=\"_ _3\"></span>er di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>t rate ver<span class=\"_ _3\"></span>sus m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mumgua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s to be com<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sate<span class=\"_ _3\"></span>d by the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer.In 2020, 2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro net in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in P&amp;L is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>heincrea<span class=\"_ _3\"></span>sed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cost a<span class=\"_ _3\"></span>s a result of a l<span class=\"_ _3\"></span>ow disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to the m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>teed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retur<span class=\"_ _3\"></span>n, forwhi<span class=\"_ _3\"></span>ch ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted.  Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>re ful<span class=\"_ _3\"></span>lyinves<span class=\"_ _3\"></span>ted in i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. In 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e tar<span class=\"_ _3\"></span>get as<span class=\"_ _3\"></span>set m<span class=\"_ _3\"></span>ixdid n<span class=\"_ _3\"></span>ot cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021 an<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s of 67<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>50%gove<span class=\"_ _3\"></span>rnm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t bo<span class=\"_ _3\"></span>nds<span class=\"_ _3\"></span>, 14% real es<span class=\"_ _3\"></span>tate, 7<span class=\"_ _0\"></span>.5% cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>rate b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ds, 6%corporat<span class=\"_ _0\"></span>e loans<span class=\"_ _0\"></span> and 5% s<span class=\"_ _0\"></span>hares.Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-74-2": {
   "value": "1. Consolidated companies1.1 List of consolidated companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>Eur<span class=\"_ _3\"></span>ope<span class=\"_ _3\"></span>, Mi<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st a<span class=\"_ _3\"></span>nd Af<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>aBelgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco C<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>rdi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n Ce<span class=\"_ _3\"></span>nter N<span class=\"_ _3\"></span>V<span class=\"_ _1b3\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco I<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>ated S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns NV<span class=\"_ _1b4\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span>Cinionic<span class=\"_ _0\"></span> bv<span class=\"_ _166\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ux<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1, 8<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0 Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>jk B<span class=\"_ _3\"></span>ELGIU<span class=\"_ _3\"></span>M<span class=\"_ _12b\"> </span><span class=\"ls135 ws164\">80</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _1b5\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _1b6\"> </span><span class=\"lse0 wsfd\">70</span></span>Franc<span class=\"_ _0\"></span>e<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco SA<span class=\"_ _3\"></span>S<span class=\"_ _3e\"> </span>17<span class=\"_ _1\"></span>7 aven<span class=\"_ _3\"></span>ue G<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>org<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s Cl\u00e9<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>, Im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le \u201c<span class=\"_ _3\"></span>Le Pl<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>n Ou<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u201d, 9200<span class=\"_ _3\"></span>0 Na<span class=\"_ _3\"></span>nter<span class=\"_ _3\"></span>re FR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>NCE<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l Ro<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>s Gm<span class=\"_ _3\"></span>bH<span class=\"_ _192\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>hst<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H<span class=\"_ _f7\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 Ka<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco S.<span class=\"_ _3\"></span>r.l.<span class=\"_ _1ba\"> </span>Vi<span class=\"_ _3\"></span>a Mo<span class=\"_ _3\"></span>nfe<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ato 7<span class=\"_ _0\"></span>, 20<span class=\"_ _3\"></span>09<span class=\"_ _3\"></span>4 Cor<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>co ITALY<span class=\"_ _128\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span>F<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>M<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span> S<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>r.<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>.<span class=\"_ _1bb\"> </span><span class=\"ls4 ws4\">Vi<span class=\"_ _3\"></span>a Vi<span class=\"_ _3\"></span>tto<span class=\"_ _3\"></span>r Pi<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ni 6<span class=\"_ _3\"></span>, 201<span class=\"_ _3\"></span>24 Mil<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o ITALY<span class=\"_ _1bc\"> </span><span class=\"lsde wsfb\">100</span></span>Netherlands<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco B<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _1bd\"> </span>Zui<span class=\"_ _3\"></span>dp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>in 1<span class=\"_ _3\"></span>26, W<span class=\"_ _1\"></span>TC T<span class=\"_ _0\"></span>owe<span class=\"_ _3\"></span>r H, F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or 1<span class=\"_ _3\"></span>5, 107<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>V A<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>terd<span class=\"_ _3\"></span>am N<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>TH<span class=\"_ _3\"></span>ERL<span class=\"_ _1\"></span>AND<span class=\"_ _3\"></span>S<span class=\"_ _28\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Norway<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Fred<span class=\"_ _3\"></span>rik<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>S<span class=\"_ _13a\"> </span>Hab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nvei<span class=\"_ _3\"></span>en 5<span class=\"_ _3\"></span>3, 16<span class=\"_ _3\"></span>30 G<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>le Fre<span class=\"_ _3\"></span>dri<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>ORWAY<span class=\"_ _ce\"> </span><span class=\"lsde wsfb\">100</span></span>Poland<span class=\"_ _180\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>p. z o.<span class=\"_ _3\"></span>o.<span class=\"_ _f6\"> </span>Ann<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>l 17<span class=\"_ _0\"></span>, 03<span class=\"_ _3\"></span>-2<span class=\"_ _3\"></span>36 War<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>w PO<span class=\"_ _3\"></span>L<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ND<span class=\"_ _1bf\"> </span><span class=\"lsde wsfb\">100</span></span>Russia<span class=\"_ _1b1\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s OO<span class=\"_ _3\"></span>O<span class=\"_ _1c0\"> </span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ice 1<span class=\"_ _3\"></span>, Fl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>r 3, Ko<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>yu<span class=\"_ _3\"></span>ka s<span class=\"_ _3\"></span>tr., 3, 1<span class=\"_ _3\"></span>2951<span class=\"_ _3\"></span>5 M<span class=\"_ _3\"></span>osco<span class=\"_ _3\"></span>w RUS<span class=\"_ _3\"></span>SIA<span class=\"_ _3\"></span>N FED<span class=\"_ _3\"></span>ER<span class=\"_ _3\"></span>ATIO<span class=\"_ _3\"></span>N<span class=\"_ _2d\"> </span><span class=\"lsde wsfb\">100</span></span>Saudi Arabia<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco In<span class=\"_ _3\"></span>teg<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d So<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns S<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>di A<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ia fo<span class=\"_ _3\"></span>r Bus<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span>L<span class=\"_ _3\"></span>ays<span class=\"_ _3\"></span>en Va<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>y, King K<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>d Rd<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>O<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>ba R<span class=\"_ _3\"></span>d., P<span class=\"_ _3\"></span>lot 3<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>5, B<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng 3<span class=\"_ _3\"></span>3, 2n<span class=\"_ _3\"></span>d f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>r, Riy<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>h SAU<span class=\"_ _3\"></span>DI A<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AB<span class=\"_ _3\"></span>IA<span class=\"_ _147\"> </span><span class=\"lsde wsfb\">100</span></span>Spain<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _163\"> </span>Trave<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a de le<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ts 241, En<span class=\"_ _3\"></span>tlo<span class=\"_ _3\"></span>. 3a<span class=\"_ _3\"></span>, 08<span class=\"_ _3\"></span>028 Ba<span class=\"_ _3\"></span>rce<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>a SPAI<span class=\"_ _3\"></span>N<span class=\"_ _1c2\"> </span><span class=\"lsde wsfb\">100</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Sv<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>e AB<span class=\"_ _1c3\"> </span>c/o Gr<span class=\"_ _3\"></span>ant T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 22<span class=\"_ _3\"></span>30, 4<span class=\"_ _3\"></span>03 14 G\u00f6<span class=\"_ _3\"></span>teb<span class=\"_ _3\"></span>org S<span class=\"_ _3\"></span>WED<span class=\"_ _3\"></span>EN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n AB<span class=\"_ _19f\"> </span>c/o G<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt T<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rnto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 2<span class=\"_ _3\"></span>230<span class=\"_ _3\"></span>, 403 14 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rg SW<span class=\"_ _3\"></span>EDEN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco A<span class=\"_ _3\"></span>B<span class=\"_ _1c4\"> </span>Kun<span class=\"_ _3\"></span>gsg<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>an 4<span class=\"_ _3\"></span>, 411 1<span class=\"_ _3\"></span>9 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>g SWED<span class=\"_ _3\"></span>EN<span class=\"_ _b4\"> </span><span class=\"lse0 wsfd\">70</span></span>United<span class=\"_ _0\"></span> Arab Emirat<span class=\"_ _0\"></span>es*<span class=\"_ _81\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Mid<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st L<span class=\"_ _3\"></span>.L<span class=\"_ _3\"></span>.C<span class=\"_ _3\"></span>.<span class=\"_ _196\"> </span>Con<span class=\"_ _3\"></span>cord Tower, Sui<span class=\"_ _3\"></span>te 12<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2, P<span class=\"_ _3\"></span>O Box 4<span class=\"_ _3\"></span>87<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>6, D<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>i Me<span class=\"_ _3\"></span>dia C<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, Dub<span class=\"_ _3\"></span>ai U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED AR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>B EMI<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>ATES<span class=\"_ _cb\"> </span><span class=\"ls10e ws12b\">49</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>Bui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 329, D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>le Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, RG1<span class=\"_ _3\"></span>2 8<span class=\"_ _3\"></span>PE B<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ckn<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l, B<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>re UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>OM<span class=\"_ _99\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco D<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus L<span class=\"_ _3\"></span>td.<span class=\"_ _1a9\"> </span>24 Ol<span class=\"_ _3\"></span>d Q<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>en St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, S<span class=\"_ _3\"></span>W1H 9<span class=\"_ _3\"></span>HP Lo<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>n UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>DO<span class=\"_ _3\"></span>M<span class=\"_ _1c5\"> </span><span class=\"lse0 wsfd\">70</span></span>(*) <span class=\"_ _8\"> </span>B<span class=\"_ _3\"></span>arc<span class=\"_ _3\"></span>o has co<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>rol o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ele<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>f th<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y by v<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f a con<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l a<span class=\"_ _3\"></span>gre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t wit<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l in<span class=\"_ _3\"></span>ves<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>r.Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasBrazi<span class=\"_ _3\"></span>l<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd<span class=\"_ _3\"></span>..<span class=\"_ _1c6\"> </span>Av. Ibi<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>pu<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a, 2<span class=\"_ _3\"></span>332<span class=\"_ _3\"></span>, 8<span class=\"_ _3\"></span>\u00b0 an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>r, conj 82, Torre I<span class=\"_ _3\"></span>I, M<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>, 0<span class=\"_ _3\"></span>4028<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>02 S<span class=\"_ _3\"></span>\u00e3o P<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>lo B<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ZIL<span class=\"_ _117\"> </span><span class=\"lsde wsfb\">100</span></span>Canada<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">MT<span class=\"_ _1\"></span>T Inn<span class=\"_ _3\"></span>ov<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>d<span class=\"_ _1c8\"> </span>Su<span class=\"_ _3\"></span>ite 2400<span class=\"_ _3\"></span>, 7<span class=\"_ _0\"></span>45 T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>low St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, V6<span class=\"_ _3\"></span>E 0C<span class=\"_ _3\"></span>5 Van<span class=\"_ _3\"></span>cou<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>r, BC CAN<span class=\"_ _3\"></span>AD<span class=\"_ _3\"></span>A<span class=\"_ _b1\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Colombia<span class=\"_ _a6\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ia S<span class=\"_ _3\"></span>AS<span class=\"_ _1c9\"> </span>Ca<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>ra 1<span class=\"_ _3\"></span>5, n\u00b0 8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4, Torre Zi<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>a Of<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>na 610<span class=\"_ _3\"></span>, 110<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>1 Bo<span class=\"_ _3\"></span>go<span class=\"_ _3\"></span>ta COLOM<span class=\"_ _3\"></span>BI<span class=\"_ _3\"></span>A<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l S<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _9a\"> </span>Ma<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o Es<span class=\"_ _3\"></span>cob<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>o No<span class=\"_ _3\"></span>. 476 Piso 10 C<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>zure<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, C.<span class=\"_ _3\"></span>P<span class=\"_ _0\"></span>. 1<span class=\"_ _3\"></span>159<span class=\"_ _3\"></span>0 D.<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>. M\u00e9<span class=\"_ _3\"></span>xico M<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>XI<span class=\"_ _3\"></span>CO<span class=\"_ _118\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>. d<span class=\"_ _3\"></span>e C.V.<span class=\"_ _1cb\"> </span>Ar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>o de<span class=\"_ _3\"></span>l Vall<span class=\"_ _3\"></span>e Ar<span class=\"_ _3\"></span>izp<span class=\"_ _3\"></span>e 16, 2<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>o pis<span class=\"_ _3\"></span>o, Co<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>l Val<span class=\"_ _3\"></span>le, CP 0310<span class=\"_ _3\"></span>0 Ne<span class=\"_ _3\"></span>w Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co cit<span class=\"_ _3\"></span>y (CD<span class=\"_ _3\"></span>MX<span class=\"_ _3\"></span>) ME<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>ICO<span class=\"_ _8f\"> </span><span class=\"ls135 ws164\">80</span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco, In<span class=\"_ _3\"></span>c.<span class=\"_ _1c6\"> </span>120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>e Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, 19<span class=\"_ _3\"></span>801 W<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n DE U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cc\"> </span><span class=\"lsde wsfb\">100</span></span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span>Cinionic<span class=\"_ _0\"></span> Inc.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>108<span class=\"_ _3\"></span>0 Whi<span class=\"_ _3\"></span>te Ro<span class=\"_ _3\"></span>ck Roa<span class=\"_ _3\"></span>d, S<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>te 100<span class=\"_ _3\"></span>, 956<span class=\"_ _3\"></span>70 Ran<span class=\"_ _3\"></span>ch<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>rdov<span class=\"_ _3\"></span>a C<span class=\"_ _3\"></span>A UNI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cd\"> </span><span class=\"ls135 ws164\">80</span></span>Asia-Pa<span class=\"_ _3\"></span>cificAustralia<span class=\"_ _dc\"> </span><span class=\"ls4 ws4\">Barco Sys<span class=\"_ _3\"></span>tem<span class=\"_ _3\"></span>s P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Ltd.<span class=\"_ _17b\"> </span>2 Roc<span class=\"_ _3\"></span>kle<span class=\"_ _3\"></span>a Dr<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>, VI<span class=\"_ _3\"></span>C 3207 Po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Me<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _1ce\"> </span><span class=\"lsde wsfb\">100</span></span>Australia<span class=\"_ _dc\"> </span>C<span class=\"_ _0\"></span>inionic Pt<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _1c3\"> </span><span class=\"ls4 ws4\">C/- Accru M<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e Pt<span class=\"_ _3\"></span>y L<span class=\"_ _3\"></span>td. 5<span class=\"_ _3\"></span>0 Ca<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l Roa<span class=\"_ _3\"></span>d, V<span class=\"_ _3\"></span>IC 31<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3 Haw<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rn E<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _dd\"> </span><span class=\"ls135 ws164\">80</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Tradi<span class=\"_ _3\"></span>ng (<span class=\"_ _3\"></span>Sha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gha<span class=\"_ _3\"></span>i) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1cd\"> </span>Ro<span class=\"_ _3\"></span>om 702<span class=\"_ _3\"></span>, No<span class=\"_ _3\"></span>. 13<span class=\"_ _3\"></span>8, Fe<span class=\"_ _3\"></span>nya<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, 20<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>031 Sh<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>ai CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _159\"> </span><span class=\"lsde wsfb\">100</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _117\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>d, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>n Cun S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ce Par<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 1022<span class=\"_ _3\"></span>00 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _60\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span>Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _1cf\"> </span><span class=\"ls105\">No. 16 C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng Pi<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Zho<span class=\"_ _3\"></span>ng G<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>an Cu<span class=\"_ _3\"></span>n Sc<span class=\"_ _3\"></span>ien<span class=\"_ _3\"></span>ce Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g Pi<span class=\"_ _3\"></span>ng D<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t, 102<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0 Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g CHI<span class=\"_ _3\"></span>NA<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>a Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>iza<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y (N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>jin<span class=\"_ _3\"></span>g) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _c6\"> </span>No. 1<span class=\"_ _3\"></span>, H<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t zon<span class=\"_ _3\"></span>e, 210<span class=\"_ _3\"></span>038 N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Ji<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>u CHIN<span class=\"_ _3\"></span>A<span class=\"_ _19b\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou) H<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>lth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1d0\"> </span>No. 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, Su<span class=\"_ _3\"></span>ton<span class=\"_ _3\"></span>g Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Suz<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>u In<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>l Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, 2<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>021 S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _182\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (<span class=\"_ _3\"></span>Wux<span class=\"_ _3\"></span>i) Techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _102\"> </span>B31<span class=\"_ _3\"></span>2-10<span class=\"_ _3\"></span>9, No. 3<span class=\"_ _3\"></span>, Fen<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>wei R<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>d, H<span class=\"_ _3\"></span>uiz<span class=\"_ _3\"></span>hi Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, Xisha<span class=\"_ _3\"></span>n d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent zo<span class=\"_ _3\"></span>ne, 2<span class=\"_ _3\"></span>14101 Wuxi C<span class=\"_ _3\"></span>HIN<span class=\"_ _3\"></span>A<span class=\"_ _1aa\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd.<span class=\"_ _1bd\"> </span>Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwun Tong<span class=\"_ _3\"></span>, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l Ele<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>., Ltd.<span class=\"_ _109\"> </span>S<span class=\"_ _3\"></span>uite 26<span class=\"_ _3\"></span>07-2610, 26/F<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>rosp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, 25 Chon<span class=\"_ _3\"></span>g Y<span class=\"_ _3\"></span>ip St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, Kw<span class=\"_ _3\"></span>un T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Chi<span class=\"_ _3\"></span>na (<span class=\"_ _3\"></span>Ho<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>) Ltd.<span class=\"_ _1d2\"> </span>Su<span class=\"_ _3\"></span>ite 2607-2610, 2<span class=\"_ _3\"></span>6/F<span class=\"_ _0\"></span>, Pro<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nter, 25 Ch<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>N<span class=\"_ _3\"></span>G<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>NG<span class=\"_ _d0\"> </span><span class=\"ls135 ws164\">80</span></span>India<span class=\"_ _1d3\"> </span>Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms P<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Ltd.<span class=\"_ _1cd\"> </span><span class=\"ls134\">c/o Per<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct A<span class=\"_ _3\"></span>ccou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g &amp; Sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>d Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces P<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>Ltd<span class=\"_ _3\"></span>., E-20, 1<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t &amp; 2nd F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or, Mai<span class=\"_ _3\"></span>n Ma<span class=\"_ _3\"></span>rke<span class=\"_ _3\"></span>t, H<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>z Kha<span class=\"_ _3\"></span>s, 1<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>016 N<span class=\"_ _3\"></span>ew D<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>hi IN<span class=\"_ _3\"></span>DI<span class=\"_ _3\"></span>A<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Japan<span class=\"_ _1d4\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _121\"> </span>Yama<span class=\"_ _3\"></span>to Inte<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l Bld<span class=\"_ _3\"></span>g 8<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, 5<span class=\"_ _3\"></span>-1-1 He<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>aj<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>a, O<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ku<span class=\"_ _3\"></span>, 143-<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ky<span class=\"_ _3\"></span>o JAPAN<span class=\"_ _a0\"> </span><span class=\"lsde wsfb\">100</span></span>Malaysia<span class=\"_ _dc\"> </span>B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>dn<span class=\"_ _3\"></span>. Bh<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>.<span class=\"_ _193\"> </span><span class=\"lsda wsf7\">No. 13A, Jalan SS21/5<span class=\"_ _0\"></span>6B, Damansara Utama,<span class=\"_ _0\"></span> 47<span class=\"_ _0\"></span>400 Pe<span class=\"_ _0\"></span>taling Jaya,<span class=\"_ _0\"></span> Selangor MAL<span class=\"_ _3\"></span>AY<span class=\"_ _0\"></span>SIA<span class=\"_ _dc\"> </span><span class=\"lsde wsfb\">100</span></span>Sin<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>re<span class=\"_ _a6\"> </span>Barco Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ore P<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>te Lim<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>d<span class=\"_ _2d\"> </span><span class=\"lsda wsf7\">100G Pasir<span class=\"_ _0\"></span> Panjang Road<span class=\"_ _0\"></span> Interlocal<span class=\"_ _0\"></span> Center<span class=\"_ _0\"></span>, 1185<span class=\"_ _0\"></span>23 Singapore<span class=\"_ _0\"></span> SINGAP<span class=\"_ _3\"></span>ORE<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>South K<span class=\"_ _0\"></span>orea<span class=\"_ _1d5\"> </span>Ba<span class=\"_ _3\"></span>rco Kore<span class=\"_ _3\"></span>a Ltd.<span class=\"_ _159\"> </span><span class=\"ls1aa\">1F<span class=\"_ _0\"></span>. &amp; 3F<span class=\"_ _0\"></span>., D<span class=\"_ _3\"></span>S T<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>er, 72-1<span class=\"_ _3\"></span>3 (Gw<span class=\"_ _3\"></span>anY<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g), B<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>lM<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Ro, D<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>An<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>Gu<span class=\"_ _3\"></span>, Gye<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>gG<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>o, 1405<span class=\"_ _3\"></span>8 AnYang<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>si KOR<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, REP<span class=\"_ _3\"></span>UB<span class=\"_ _3\"></span>LI<span class=\"_ _3\"></span>C OF<span class=\"_ _55\"> </span><span class=\"lsde wsfb\">100</span></span>Ta<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>w<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>n<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Barco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>33F<span class=\"_ _0\"></span>., N<span class=\"_ _3\"></span>o. 16, X<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>zha<span class=\"_ _3\"></span>n Rd<span class=\"_ _3\"></span>., Ba<span class=\"_ _3\"></span>nq<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>o Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>., 22<span class=\"_ _3\"></span>0 New Taip<span class=\"_ _3\"></span>ei Ci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y T<span class=\"_ _0\"></span>A<span class=\"_ _3\"></span>IWAN<span class=\"_ _3\"></span>, PR<span class=\"_ _3\"></span>OVI<span class=\"_ _3\"></span>NCE O<span class=\"_ _3\"></span>F CHI<span class=\"_ _3\"></span>NA<span class=\"_ _1d6\"> </span><span class=\"lsde wsfb\">100</span></span>1.2 List of equity accounted companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasUnited<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">CCO Barco A<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Vent<span class=\"_ _3\"></span>ure LLC<span class=\"_ _1d7\"> </span>Cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Trus<span class=\"_ _3\"></span>t Cente<span class=\"_ _3\"></span>r, 120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, 1<span class=\"_ _3\"></span>98<span class=\"_ _3\"></span>01 Wi<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n (D<span class=\"_ _3\"></span>E) UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>TA<span class=\"_ _0\"></span>TE<span class=\"_ _3\"></span>S<span class=\"_ _1c7\"> </span><span class=\"ls89 wsa4\">35</span></span>Asia-Pa<span class=\"_ _3\"></span>cificChina<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">CFG Barco (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _18f\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gsh<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>uan C<span class=\"_ _3\"></span>un S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nce P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 10220<span class=\"_ _3\"></span>0 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _62\"> </span><span class=\"ls10e ws12b\">49</span></span>Exemption<span class=\"_ _0\"></span> of publishing financ<span class=\"_ _0\"></span>ial statemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and management<span class=\"_ _0\"></span> repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ge<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>an le<span class=\"_ _3\"></span>gisl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on \u00a726<span class=\"_ _3\"></span>4 Ab<span class=\"_ _3\"></span>s. 3 H<span class=\"_ _3\"></span>GB:Foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y-<span class=\"_ _1\"></span>comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e rele<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d of pu<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ishi<span class=\"_ _3\"></span>ng their financi<span class=\"_ _0\"></span>al statements and<span class=\"_ _0\"></span> management report 20<span class=\"_ _0\"></span>22:\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>arco Contro<span class=\"_ _3\"></span>l Roo<span class=\"_ _3\"></span>ms G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>HTh<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>idat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n scop<span class=\"_ _3\"></span>e of Barco Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ated 2022 as l<span class=\"_ _3\"></span>isted a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ve.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-74-3": {
   "value": "1. Consolidated companies1.1 List of consolidated companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>Eur<span class=\"_ _3\"></span>ope<span class=\"_ _3\"></span>, Mi<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st a<span class=\"_ _3\"></span>nd Af<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>aBelgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco C<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>rdi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n Ce<span class=\"_ _3\"></span>nter N<span class=\"_ _3\"></span>V<span class=\"_ _1b3\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco I<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>ated S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns NV<span class=\"_ _1b4\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span>Cinionic<span class=\"_ _0\"></span> bv<span class=\"_ _166\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ux<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1, 8<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0 Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>jk B<span class=\"_ _3\"></span>ELGIU<span class=\"_ _3\"></span>M<span class=\"_ _12b\"> </span><span class=\"ls135 ws164\">80</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _1b5\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _1b6\"> </span><span class=\"lse0 wsfd\">70</span></span>Franc<span class=\"_ _0\"></span>e<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco SA<span class=\"_ _3\"></span>S<span class=\"_ _3e\"> </span>17<span class=\"_ _1\"></span>7 aven<span class=\"_ _3\"></span>ue G<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>org<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s Cl\u00e9<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>, Im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le \u201c<span class=\"_ _3\"></span>Le Pl<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>n Ou<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u201d, 9200<span class=\"_ _3\"></span>0 Na<span class=\"_ _3\"></span>nter<span class=\"_ _3\"></span>re FR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>NCE<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l Ro<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>s Gm<span class=\"_ _3\"></span>bH<span class=\"_ _192\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>hst<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H<span class=\"_ _f7\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 Ka<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco S.<span class=\"_ _3\"></span>r.l.<span class=\"_ _1ba\"> </span>Vi<span class=\"_ _3\"></span>a Mo<span class=\"_ _3\"></span>nfe<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ato 7<span class=\"_ _0\"></span>, 20<span class=\"_ _3\"></span>09<span class=\"_ _3\"></span>4 Cor<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>co ITALY<span class=\"_ _128\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span>F<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>M<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span> S<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>r.<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>.<span class=\"_ _1bb\"> </span><span class=\"ls4 ws4\">Vi<span class=\"_ _3\"></span>a Vi<span class=\"_ _3\"></span>tto<span class=\"_ _3\"></span>r Pi<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ni 6<span class=\"_ _3\"></span>, 201<span class=\"_ _3\"></span>24 Mil<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o ITALY<span class=\"_ _1bc\"> </span><span class=\"lsde wsfb\">100</span></span>Netherlands<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco B<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _1bd\"> </span>Zui<span class=\"_ _3\"></span>dp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>in 1<span class=\"_ _3\"></span>26, W<span class=\"_ _1\"></span>TC T<span class=\"_ _0\"></span>owe<span class=\"_ _3\"></span>r H, F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or 1<span class=\"_ _3\"></span>5, 107<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>V A<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>terd<span class=\"_ _3\"></span>am N<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>TH<span class=\"_ _3\"></span>ERL<span class=\"_ _1\"></span>AND<span class=\"_ _3\"></span>S<span class=\"_ _28\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Norway<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Fred<span class=\"_ _3\"></span>rik<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>S<span class=\"_ _13a\"> </span>Hab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nvei<span class=\"_ _3\"></span>en 5<span class=\"_ _3\"></span>3, 16<span class=\"_ _3\"></span>30 G<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>le Fre<span class=\"_ _3\"></span>dri<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>ORWAY<span class=\"_ _ce\"> </span><span class=\"lsde wsfb\">100</span></span>Poland<span class=\"_ _180\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>p. z o.<span class=\"_ _3\"></span>o.<span class=\"_ _f6\"> </span>Ann<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>l 17<span class=\"_ _0\"></span>, 03<span class=\"_ _3\"></span>-2<span class=\"_ _3\"></span>36 War<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>w PO<span class=\"_ _3\"></span>L<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ND<span class=\"_ _1bf\"> </span><span class=\"lsde wsfb\">100</span></span>Russia<span class=\"_ _1b1\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s OO<span class=\"_ _3\"></span>O<span class=\"_ _1c0\"> </span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ice 1<span class=\"_ _3\"></span>, Fl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>r 3, Ko<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>yu<span class=\"_ _3\"></span>ka s<span class=\"_ _3\"></span>tr., 3, 1<span class=\"_ _3\"></span>2951<span class=\"_ _3\"></span>5 M<span class=\"_ _3\"></span>osco<span class=\"_ _3\"></span>w RUS<span class=\"_ _3\"></span>SIA<span class=\"_ _3\"></span>N FED<span class=\"_ _3\"></span>ER<span class=\"_ _3\"></span>ATIO<span class=\"_ _3\"></span>N<span class=\"_ _2d\"> </span><span class=\"lsde wsfb\">100</span></span>Saudi Arabia<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco In<span class=\"_ _3\"></span>teg<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d So<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns S<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>di A<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ia fo<span class=\"_ _3\"></span>r Bus<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span>L<span class=\"_ _3\"></span>ays<span class=\"_ _3\"></span>en Va<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>y, King K<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>d Rd<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>O<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>ba R<span class=\"_ _3\"></span>d., P<span class=\"_ _3\"></span>lot 3<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>5, B<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng 3<span class=\"_ _3\"></span>3, 2n<span class=\"_ _3\"></span>d f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>r, Riy<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>h SAU<span class=\"_ _3\"></span>DI A<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AB<span class=\"_ _3\"></span>IA<span class=\"_ _147\"> </span><span class=\"lsde wsfb\">100</span></span>Spain<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _163\"> </span>Trave<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a de le<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ts 241, En<span class=\"_ _3\"></span>tlo<span class=\"_ _3\"></span>. 3a<span class=\"_ _3\"></span>, 08<span class=\"_ _3\"></span>028 Ba<span class=\"_ _3\"></span>rce<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>a SPAI<span class=\"_ _3\"></span>N<span class=\"_ _1c2\"> </span><span class=\"lsde wsfb\">100</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Sv<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>e AB<span class=\"_ _1c3\"> </span>c/o Gr<span class=\"_ _3\"></span>ant T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 22<span class=\"_ _3\"></span>30, 4<span class=\"_ _3\"></span>03 14 G\u00f6<span class=\"_ _3\"></span>teb<span class=\"_ _3\"></span>org S<span class=\"_ _3\"></span>WED<span class=\"_ _3\"></span>EN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n AB<span class=\"_ _19f\"> </span>c/o G<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt T<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rnto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 2<span class=\"_ _3\"></span>230<span class=\"_ _3\"></span>, 403 14 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rg SW<span class=\"_ _3\"></span>EDEN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco A<span class=\"_ _3\"></span>B<span class=\"_ _1c4\"> </span>Kun<span class=\"_ _3\"></span>gsg<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>an 4<span class=\"_ _3\"></span>, 411 1<span class=\"_ _3\"></span>9 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>g SWED<span class=\"_ _3\"></span>EN<span class=\"_ _b4\"> </span><span class=\"lse0 wsfd\">70</span></span>United<span class=\"_ _0\"></span> Arab Emirat<span class=\"_ _0\"></span>es*<span class=\"_ _81\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Mid<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st L<span class=\"_ _3\"></span>.L<span class=\"_ _3\"></span>.C<span class=\"_ _3\"></span>.<span class=\"_ _196\"> </span>Con<span class=\"_ _3\"></span>cord Tower, Sui<span class=\"_ _3\"></span>te 12<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2, P<span class=\"_ _3\"></span>O Box 4<span class=\"_ _3\"></span>87<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>6, D<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>i Me<span class=\"_ _3\"></span>dia C<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, Dub<span class=\"_ _3\"></span>ai U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED AR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>B EMI<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>ATES<span class=\"_ _cb\"> </span><span class=\"ls10e ws12b\">49</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>Bui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 329, D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>le Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, RG1<span class=\"_ _3\"></span>2 8<span class=\"_ _3\"></span>PE B<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ckn<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l, B<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>re UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>OM<span class=\"_ _99\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco D<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus L<span class=\"_ _3\"></span>td.<span class=\"_ _1a9\"> </span>24 Ol<span class=\"_ _3\"></span>d Q<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>en St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, S<span class=\"_ _3\"></span>W1H 9<span class=\"_ _3\"></span>HP Lo<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>n UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>DO<span class=\"_ _3\"></span>M<span class=\"_ _1c5\"> </span><span class=\"lse0 wsfd\">70</span></span>(*) <span class=\"_ _8\"> </span>B<span class=\"_ _3\"></span>arc<span class=\"_ _3\"></span>o has co<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>rol o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ele<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>f th<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y by v<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f a con<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l a<span class=\"_ _3\"></span>gre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t wit<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l in<span class=\"_ _3\"></span>ves<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>r.Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasBrazi<span class=\"_ _3\"></span>l<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd<span class=\"_ _3\"></span>..<span class=\"_ _1c6\"> </span>Av. Ibi<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>pu<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a, 2<span class=\"_ _3\"></span>332<span class=\"_ _3\"></span>, 8<span class=\"_ _3\"></span>\u00b0 an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>r, conj 82, Torre I<span class=\"_ _3\"></span>I, M<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>, 0<span class=\"_ _3\"></span>4028<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>02 S<span class=\"_ _3\"></span>\u00e3o P<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>lo B<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ZIL<span class=\"_ _117\"> </span><span class=\"lsde wsfb\">100</span></span>Canada<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">MT<span class=\"_ _1\"></span>T Inn<span class=\"_ _3\"></span>ov<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>d<span class=\"_ _1c8\"> </span>Su<span class=\"_ _3\"></span>ite 2400<span class=\"_ _3\"></span>, 7<span class=\"_ _0\"></span>45 T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>low St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, V6<span class=\"_ _3\"></span>E 0C<span class=\"_ _3\"></span>5 Van<span class=\"_ _3\"></span>cou<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>r, BC CAN<span class=\"_ _3\"></span>AD<span class=\"_ _3\"></span>A<span class=\"_ _b1\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Colombia<span class=\"_ _a6\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ia S<span class=\"_ _3\"></span>AS<span class=\"_ _1c9\"> </span>Ca<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>ra 1<span class=\"_ _3\"></span>5, n\u00b0 8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4, Torre Zi<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>a Of<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>na 610<span class=\"_ _3\"></span>, 110<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>1 Bo<span class=\"_ _3\"></span>go<span class=\"_ _3\"></span>ta COLOM<span class=\"_ _3\"></span>BI<span class=\"_ _3\"></span>A<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l S<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _9a\"> </span>Ma<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o Es<span class=\"_ _3\"></span>cob<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>o No<span class=\"_ _3\"></span>. 476 Piso 10 C<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>zure<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, C.<span class=\"_ _3\"></span>P<span class=\"_ _0\"></span>. 1<span class=\"_ _3\"></span>159<span class=\"_ _3\"></span>0 D.<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>. M\u00e9<span class=\"_ _3\"></span>xico M<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>XI<span class=\"_ _3\"></span>CO<span class=\"_ _118\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>. d<span class=\"_ _3\"></span>e C.V.<span class=\"_ _1cb\"> </span>Ar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>o de<span class=\"_ _3\"></span>l Vall<span class=\"_ _3\"></span>e Ar<span class=\"_ _3\"></span>izp<span class=\"_ _3\"></span>e 16, 2<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>o pis<span class=\"_ _3\"></span>o, Co<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>l Val<span class=\"_ _3\"></span>le, CP 0310<span class=\"_ _3\"></span>0 Ne<span class=\"_ _3\"></span>w Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co cit<span class=\"_ _3\"></span>y (CD<span class=\"_ _3\"></span>MX<span class=\"_ _3\"></span>) ME<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>ICO<span class=\"_ _8f\"> </span><span class=\"ls135 ws164\">80</span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco, In<span class=\"_ _3\"></span>c.<span class=\"_ _1c6\"> </span>120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>e Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, 19<span class=\"_ _3\"></span>801 W<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n DE U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cc\"> </span><span class=\"lsde wsfb\">100</span></span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span>Cinionic<span class=\"_ _0\"></span> Inc.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>108<span class=\"_ _3\"></span>0 Whi<span class=\"_ _3\"></span>te Ro<span class=\"_ _3\"></span>ck Roa<span class=\"_ _3\"></span>d, S<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>te 100<span class=\"_ _3\"></span>, 956<span class=\"_ _3\"></span>70 Ran<span class=\"_ _3\"></span>ch<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>rdov<span class=\"_ _3\"></span>a C<span class=\"_ _3\"></span>A UNI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cd\"> </span><span class=\"ls135 ws164\">80</span></span>Asia-Pa<span class=\"_ _3\"></span>cificAustralia<span class=\"_ _dc\"> </span><span class=\"ls4 ws4\">Barco Sys<span class=\"_ _3\"></span>tem<span class=\"_ _3\"></span>s P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Ltd.<span class=\"_ _17b\"> </span>2 Roc<span class=\"_ _3\"></span>kle<span class=\"_ _3\"></span>a Dr<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>, VI<span class=\"_ _3\"></span>C 3207 Po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Me<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _1ce\"> </span><span class=\"lsde wsfb\">100</span></span>Australia<span class=\"_ _dc\"> </span>C<span class=\"_ _0\"></span>inionic Pt<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _1c3\"> </span><span class=\"ls4 ws4\">C/- Accru M<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e Pt<span class=\"_ _3\"></span>y L<span class=\"_ _3\"></span>td. 5<span class=\"_ _3\"></span>0 Ca<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l Roa<span class=\"_ _3\"></span>d, V<span class=\"_ _3\"></span>IC 31<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3 Haw<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rn E<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _dd\"> </span><span class=\"ls135 ws164\">80</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Tradi<span class=\"_ _3\"></span>ng (<span class=\"_ _3\"></span>Sha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gha<span class=\"_ _3\"></span>i) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1cd\"> </span>Ro<span class=\"_ _3\"></span>om 702<span class=\"_ _3\"></span>, No<span class=\"_ _3\"></span>. 13<span class=\"_ _3\"></span>8, Fe<span class=\"_ _3\"></span>nya<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, 20<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>031 Sh<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>ai CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _159\"> </span><span class=\"lsde wsfb\">100</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _117\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>d, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>n Cun S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ce Par<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 1022<span class=\"_ _3\"></span>00 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _60\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span>Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _1cf\"> </span><span class=\"ls105\">No. 16 C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng Pi<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Zho<span class=\"_ _3\"></span>ng G<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>an Cu<span class=\"_ _3\"></span>n Sc<span class=\"_ _3\"></span>ien<span class=\"_ _3\"></span>ce Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g Pi<span class=\"_ _3\"></span>ng D<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t, 102<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0 Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g CHI<span class=\"_ _3\"></span>NA<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>a Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>iza<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y (N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>jin<span class=\"_ _3\"></span>g) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _c6\"> </span>No. 1<span class=\"_ _3\"></span>, H<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t zon<span class=\"_ _3\"></span>e, 210<span class=\"_ _3\"></span>038 N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Ji<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>u CHIN<span class=\"_ _3\"></span>A<span class=\"_ _19b\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou) H<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>lth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1d0\"> </span>No. 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, Su<span class=\"_ _3\"></span>ton<span class=\"_ _3\"></span>g Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Suz<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>u In<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>l Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, 2<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>021 S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _182\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (<span class=\"_ _3\"></span>Wux<span class=\"_ _3\"></span>i) Techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _102\"> </span>B31<span class=\"_ _3\"></span>2-10<span class=\"_ _3\"></span>9, No. 3<span class=\"_ _3\"></span>, Fen<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>wei R<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>d, H<span class=\"_ _3\"></span>uiz<span class=\"_ _3\"></span>hi Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, Xisha<span class=\"_ _3\"></span>n d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent zo<span class=\"_ _3\"></span>ne, 2<span class=\"_ _3\"></span>14101 Wuxi C<span class=\"_ _3\"></span>HIN<span class=\"_ _3\"></span>A<span class=\"_ _1aa\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd.<span class=\"_ _1bd\"> </span>Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwun Tong<span class=\"_ _3\"></span>, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l Ele<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>., Ltd.<span class=\"_ _109\"> </span>S<span class=\"_ _3\"></span>uite 26<span class=\"_ _3\"></span>07-2610, 26/F<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>rosp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, 25 Chon<span class=\"_ _3\"></span>g Y<span class=\"_ _3\"></span>ip St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, Kw<span class=\"_ _3\"></span>un T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Chi<span class=\"_ _3\"></span>na (<span class=\"_ _3\"></span>Ho<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>) Ltd.<span class=\"_ _1d2\"> </span>Su<span class=\"_ _3\"></span>ite 2607-2610, 2<span class=\"_ _3\"></span>6/F<span class=\"_ _0\"></span>, Pro<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nter, 25 Ch<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>N<span class=\"_ _3\"></span>G<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>NG<span class=\"_ _d0\"> </span><span class=\"ls135 ws164\">80</span></span>India<span class=\"_ _1d3\"> </span>Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms P<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Ltd.<span class=\"_ _1cd\"> </span><span class=\"ls134\">c/o Per<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct A<span class=\"_ _3\"></span>ccou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g &amp; Sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>d Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces P<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>Ltd<span class=\"_ _3\"></span>., E-20, 1<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t &amp; 2nd F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or, Mai<span class=\"_ _3\"></span>n Ma<span class=\"_ _3\"></span>rke<span class=\"_ _3\"></span>t, H<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>z Kha<span class=\"_ _3\"></span>s, 1<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>016 N<span class=\"_ _3\"></span>ew D<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>hi IN<span class=\"_ _3\"></span>DI<span class=\"_ _3\"></span>A<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Japan<span class=\"_ _1d4\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _121\"> </span>Yama<span class=\"_ _3\"></span>to Inte<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l Bld<span class=\"_ _3\"></span>g 8<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, 5<span class=\"_ _3\"></span>-1-1 He<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>aj<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>a, O<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ku<span class=\"_ _3\"></span>, 143-<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ky<span class=\"_ _3\"></span>o JAPAN<span class=\"_ _a0\"> </span><span class=\"lsde wsfb\">100</span></span>Malaysia<span class=\"_ _dc\"> </span>B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>dn<span class=\"_ _3\"></span>. Bh<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>.<span class=\"_ _193\"> </span><span class=\"lsda wsf7\">No. 13A, Jalan SS21/5<span class=\"_ _0\"></span>6B, Damansara Utama,<span class=\"_ _0\"></span> 47<span class=\"_ _0\"></span>400 Pe<span class=\"_ _0\"></span>taling Jaya,<span class=\"_ _0\"></span> Selangor MAL<span class=\"_ _3\"></span>AY<span class=\"_ _0\"></span>SIA<span class=\"_ _dc\"> </span><span class=\"lsde wsfb\">100</span></span>Sin<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>re<span class=\"_ _a6\"> </span>Barco Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ore P<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>te Lim<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>d<span class=\"_ _2d\"> </span><span class=\"lsda wsf7\">100G Pasir<span class=\"_ _0\"></span> Panjang Road<span class=\"_ _0\"></span> Interlocal<span class=\"_ _0\"></span> Center<span class=\"_ _0\"></span>, 1185<span class=\"_ _0\"></span>23 Singapore<span class=\"_ _0\"></span> SINGAP<span class=\"_ _3\"></span>ORE<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>South K<span class=\"_ _0\"></span>orea<span class=\"_ _1d5\"> </span>Ba<span class=\"_ _3\"></span>rco Kore<span class=\"_ _3\"></span>a Ltd.<span class=\"_ _159\"> </span><span class=\"ls1aa\">1F<span class=\"_ _0\"></span>. &amp; 3F<span class=\"_ _0\"></span>., D<span class=\"_ _3\"></span>S T<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>er, 72-1<span class=\"_ _3\"></span>3 (Gw<span class=\"_ _3\"></span>anY<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g), B<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>lM<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Ro, D<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>An<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>Gu<span class=\"_ _3\"></span>, Gye<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>gG<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>o, 1405<span class=\"_ _3\"></span>8 AnYang<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>si KOR<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, REP<span class=\"_ _3\"></span>UB<span class=\"_ _3\"></span>LI<span class=\"_ _3\"></span>C OF<span class=\"_ _55\"> </span><span class=\"lsde wsfb\">100</span></span>Ta<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>w<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>n<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Barco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>33F<span class=\"_ _0\"></span>., N<span class=\"_ _3\"></span>o. 16, X<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>zha<span class=\"_ _3\"></span>n Rd<span class=\"_ _3\"></span>., Ba<span class=\"_ _3\"></span>nq<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>o Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>., 22<span class=\"_ _3\"></span>0 New Taip<span class=\"_ _3\"></span>ei Ci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y T<span class=\"_ _0\"></span>A<span class=\"_ _3\"></span>IWAN<span class=\"_ _3\"></span>, PR<span class=\"_ _3\"></span>OVI<span class=\"_ _3\"></span>NCE O<span class=\"_ _3\"></span>F CHI<span class=\"_ _3\"></span>NA<span class=\"_ _1d6\"> </span><span class=\"lsde wsfb\">100</span></span>Exemption<span class=\"_ _0\"></span> of publishing financ<span class=\"_ _0\"></span>ial statemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and management<span class=\"_ _0\"></span> repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ge<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>an le<span class=\"_ _3\"></span>gisl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on \u00a726<span class=\"_ _3\"></span>4 Ab<span class=\"_ _3\"></span>s. 3 H<span class=\"_ _3\"></span>GB:Foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y-<span class=\"_ _1\"></span>comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e rele<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d of pu<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ishi<span class=\"_ _3\"></span>ng their financi<span class=\"_ _0\"></span>al statements and<span class=\"_ _0\"></span> management report 20<span class=\"_ _0\"></span>22:\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>arco Contro<span class=\"_ _3\"></span>l Roo<span class=\"_ _3\"></span>ms G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>HTh<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>idat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n scop<span class=\"_ _3\"></span>e of Barco Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ated 2022 as l<span class=\"_ _3\"></span>isted a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ve.In 2022 G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uted s<span class=\"_ _3\"></span>ix mo<span class=\"_ _3\"></span>nth<span class=\"_ _3\"></span>s of tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r (0.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) to the tota<span class=\"_ _3\"></span>l tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p, tho<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>h in it<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>up p<span class=\"_ _3\"></span>has<span class=\"_ _3\"></span>e not yet co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to EBIT<span class=\"_ _3\"></span>DA (-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n e<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>).If th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>d take<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ace at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>inn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g of th<span class=\"_ _3\"></span>e year, the tot<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over w<span class=\"_ _3\"></span>oul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro and t<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA los<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od wo<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of 0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro have be<span class=\"_ _3\"></span>en ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d are in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n adm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>istr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws in th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt of ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows<span class=\"_ _3\"></span>.The foll<span class=\"_ _0\"></span>owing table summari<span class=\"_ _0\"></span>zes t<span class=\"_ _0\"></span>he considerat<span class=\"_ _0\"></span>ion paid for<span class=\"_ _0\"></span> Gn<span class=\"_ _3\"></span>osco an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span> ass<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>d reco<span class=\"_ _3\"></span>gnized at t<span class=\"_ _3\"></span>he acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n pa<span class=\"_ _3\"></span>id, t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g net a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts is rela<span class=\"_ _3\"></span>ted to futu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s Barco ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s to realize bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e of se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces prov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ed by D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>micu<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e tele<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>atol<span class=\"_ _3\"></span><span class=\"ws4\">-</span>og<span class=\"_ _3\"></span>y pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm for d<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>gno<span class=\"_ _3\"></span>sis of sk<span class=\"_ _3\"></span>in ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, wo<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er skin lesions.2022Acquisition o<span class=\"_ _0\"></span>f Gnosco ABIn ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo team<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l fir<span class=\"_ _3\"></span>st co<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ine t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tise, g<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>ket cap<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s and i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>led b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>e pat<span class=\"_ _3\"></span>h to comm<span class=\"_ _3\"></span>ercia<span class=\"_ _3\"></span>l succes<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing a j<span class=\"_ _3\"></span>oint te<span class=\"_ _3\"></span>led<span class=\"_ _3\"></span>erm<span class=\"_ _3\"></span>atolo<span class=\"_ _3\"></span>gy a<span class=\"_ _3\"></span>nd telewo<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d ca<span class=\"_ _3\"></span>re road<span class=\"_ _3\"></span>map b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on h<span class=\"_ _3\"></span>igh q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, affo<span class=\"_ _3\"></span>rdab<span class=\"_ _3\"></span>le ski<span class=\"_ _3\"></span>n solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Barco acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d 70% of the sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive con<span class=\"_ _3\"></span>trol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Ju<span class=\"_ _3\"></span>ly 2022, t<span class=\"_ _3\"></span>he Gn<span class=\"_ _3\"></span>osco f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res are t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Grou<span class=\"_ _3\"></span>p from 1 J<span class=\"_ _3\"></span>uly, 2022 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is record<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset (acqu<span class=\"_ _3\"></span>ired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how) o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Conso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated B<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce Sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich wi<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized ove<span class=\"_ _3\"></span>r 5 year<span class=\"_ _3\"></span>s.A fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s was reco<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>d for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uros. S<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 15 for<span class=\"_ _0\"></span> more in<span class=\"_ _0\"></span>formation.Assets and Liabilities Gnosco ABIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1d8\"> </span>1 Ju<span class=\"_ _3\"></span>ly 2022Fair va<span class=\"_ _3\"></span>lue IFR<span class=\"_ _3\"></span>S <span class=\"_ _21\"></span> Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/Srestat<span class=\"_ _0\"></span>ementsOp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/SCapitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment<span class=\"_ _160\"> </span>354<span class=\"_ _1a4\"> </span><span class=\"lsf5 ws112\">-35<span class=\"_ _3\"></span>4<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-</span></span>Know<span class=\"_ _3\"></span>-h<span class=\"_ _3\"></span>ow<span class=\"_ _1d9\"> </span>0<span class=\"_ _60\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _71\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>7</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1da\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls191 ws255\">73<span class=\"_ _de\"> </span>73</span>T<span class=\"_ _0\"></span>otal non-current asset<span class=\"_ _3\"></span>s<span class=\"_ _1db\"> </span>354<span class=\"_ _6e\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>6<span class=\"_ _70\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"> </span>0</span>T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _15d\"> </span><span class=\"ls3c ws48\">29<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>29</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _1dd\"> </span><span class=\"ls19b ws270\">12<span class=\"_ _1dc\"> </span></span>-<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">12</span>T<span class=\"_ _0\"></span>otal current assets<span class=\"_ _156\"> </span><span class=\"ls109 ws126\">40<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>40</span>LT<span class=\"_ _3\"></span> l<span class=\"_ _3\"></span>o<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>n<span class=\"_ _1de\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _3\"></span>2<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-1<span class=\"_ _3\"></span>72</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y<span class=\"_ _1df\"> </span>-<span class=\"_ _54\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>7<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>67</span>T<span class=\"_ _0\"></span>otal non-current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1b6\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9</span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _85\"> </span><span class=\"ls106 ws123\">-170<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-170</span>T<span class=\"_ _0\"></span>otal current liabiliti<span class=\"_ _3\"></span>es<span class=\"_ _1e0\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1a4\"> </span></span>-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0</span>Cash<span class=\"_ _1e1\"> </span><span class=\"ls10b ws128\">237<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span></span>237</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>et a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts<span class=\"_ _1e2\"> </span>289<span class=\"_ _70\"> </span><span class=\"ls138 ws167\">5,759<span class=\"_ _94\"> </span><span class=\"ls131 ws161\">6<span class=\"_ _3\"></span>,048</span></span>Upfron<span class=\"_ _0\"></span>t conside<span class=\"_ _0\"></span>ration<span class=\"_ _1e3\"> </span><span class=\"ls191 ws255\">4,000</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on c<span class=\"_ _3\"></span>ost (e<span class=\"_ _3\"></span>xcl<span class=\"_ _3\"></span>. ne<span class=\"_ _3\"></span>t ca<span class=\"_ _3\"></span>sh)<span class=\"_ _1e4\"> </span><span class=\"ls10a ws127\">4,000</span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ated to p<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"lsfb ws118\">2,04<span class=\"_ _3\"></span>8</span>Ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low on a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _1e5\"> </span><span class=\"ff1 fc0\">1 Ju<span class=\"_ _3\"></span>ly 2022</span>Net c<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h acq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>red w<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e sub<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1e6\"> </span><span class=\"ls3c ws48\">237</span>Cash paid<span class=\"_ _1e7\"> </span><span class=\"ls10a ws127\">-4,000</span>Net cash<span class=\"_ _0\"></span> flow on acquisit<span class=\"_ _0\"></span>ion<span class=\"_ _1e8\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accou<span class=\"_ _3\"></span>nted for u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion method c<span class=\"_ _0\"></span>onform<span class=\"_ _0\"></span> IFRS3<span class=\"_ _0\"></span> Business C<span class=\"_ _0\"></span>ombinations.We refer to note 23 'C<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt: ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s' for imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup.17<span class=\"_ _2\"></span>. Non-controlling interestTh<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y intere<span class=\"_ _3\"></span>st he<span class=\"_ _3\"></span>ld by no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>ts:Name<span class=\"_ _26f\"> </span>Count<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>y of i<span class=\"_ _0\"></span>ncorporation<span class=\"_ _0\"></span> and operation<span class=\"_ _17c\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _36\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _3d\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _145\"> </span>Hong Kong<span class=\"_ _21d\"> </span>20%<span class=\"_ _40\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _40\"> </span>45%</span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1ef\"> </span>Sw<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>n<span class=\"_ _29a\"> </span><span class=\"lsf5 ws112\">30%<span class=\"_ _cf\"> </span></span>-<span class=\"_ _7e\"> </span>-Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e to non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntrol<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _e2\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _262\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _45\"> </span>20,345<span class=\"_ _2b\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1fb\"> </span><span class=\"ls84 ws9f\">-554<span class=\"_ _10d\"> </span></span>-<span class=\"_ _117\"> </span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bu<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>n-co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>oll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st<span class=\"_ _26d\"> </span>1<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>92<span class=\"_ _da\"> </span><span class=\"lsf9 ws116\"> 41<span class=\"_ _3\"></span>,031<span class=\"_ _3\"></span> <span class=\"_ _274\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _0\"></span>,798</span></span>Up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic, t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s have contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l of Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Ltd. tot<span class=\"_ _3\"></span>ali<span class=\"_ _3\"></span>ng 45% of tot<span class=\"_ _3\"></span>al contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns of USD 10<span class=\"_ _3\"></span>0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns all g<span class=\"_ _3\"></span>ave ri<span class=\"_ _3\"></span>ght to 45% in th<span class=\"_ _3\"></span>e Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>ies\u2019 e<span class=\"_ _3\"></span>quit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd resu<span class=\"_ _3\"></span>lt. In 202<span class=\"_ _3\"></span>2 Ba<span class=\"_ _3\"></span>rco agree<span class=\"_ _3\"></span>d to buy t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>kes h<span class=\"_ _3\"></span>eld by t<span class=\"_ _3\"></span>he minority shareholders Appotr<span class=\"_ _0\"></span>onics and CITIC<span class=\"_ _0\"></span>PE in Ci<span class=\"_ _0\"></span>nionic, incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco\u2019s owner<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture to 80%<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he 20% s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ke is show<span class=\"_ _3\"></span>n as n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>troll<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>ls of C<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c are f<span class=\"_ _3\"></span>ully co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t resu<span class=\"_ _3\"></span>lts i<span class=\"_ _3\"></span>n 2020 - 2022.In ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqu<span class=\"_ _3\"></span>ired 70% of th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive co<span class=\"_ _3\"></span>ntrol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Jul<span class=\"_ _3\"></span>y 2022, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co fig<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re take<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>rom 1 Ju<span class=\"_ _3\"></span>ly, 2022 onwa<span class=\"_ _3\"></span>rds.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l enti<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, 2021 a<span class=\"_ _3\"></span>nd 2020. Assets and Liabilities Cinionic JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ff\"> </span>2021<span class=\"_ _262\"> </span>2020</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1cc\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>,081<span class=\"_ _1f1\"> </span></span> 6,<span class=\"_ _3\"></span>788 <span class=\"_ _1d6\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>1 </span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1c4\"> </span>134,2<span class=\"_ _2\"></span>48<span class=\"_ _252\"> </span><span class=\"lsdc wsf9\"> 1<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>07 <span class=\"_ _39\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span> </span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _17\"> </span>14<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>329<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\"> 121,<span class=\"_ _3\"></span>595 <span class=\"_ _d3\"> </span><span class=\"lsfc ws119\"> 1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 </span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _29c\"> </span>81,<span class=\"_ _3\"></span>381<span class=\"_ _22\"> </span><span class=\"lsdc wsf9\"> 50,<span class=\"_ _3\"></span>149 <span class=\"_ _21f\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>197<span class=\"_ _3\"></span> </span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _29d\"> </span>20,3<span class=\"_ _3\"></span>45<span class=\"_ _1f0\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _1f8\"> </span>101<span class=\"_ _3\"></span>,726<span class=\"_ _2b\"> </span><span class=\"ls4 ws4\"> 91<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>181 <span class=\"_ _252\"> </span> 83,<span class=\"_ _3\"></span>995 </span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _1a7\"> </span>2<span class=\"_ _3\"></span>9,6<span class=\"_ _3\"></span>45<span class=\"_ _22\"> </span><span class=\"lsde wsfb\"> 28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>2 <span class=\"_ _252\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>0 </span></span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _20d\"> </span><span class=\"lsf7 ws114\">4<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>24<span class=\"_ _22\"> </span> 2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span> <span class=\"_ _21f\"> </span> 24,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> </span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1b8\"> </span>171,395<span class=\"_ _90\"> </span><span class=\"lse0 wsfd\"> 146<span class=\"_ _3\"></span>,416 <span class=\"_ _44\"> </span><span class=\"lsfe ws11b\"> 132<span class=\"_ _3\"></span>,601 </span></span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Li<span class=\"_ _3\"></span>mited<span class=\"_ _3\"></span>, Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic bv, Barco Cin<span class=\"_ _3\"></span>eA<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _1\"></span>. de C<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>V., Cinio<span class=\"_ _3\"></span>nic I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Lt<span class=\"_ _0\"></span>d<span class=\"_ _3\"></span>.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nosco le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022. Assets and Liabilities Gnosco JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _29e\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>4<span class=\"_ _4\"> </span>4<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _22d\"> </span><span class=\"lsfb ws118\">1,<span class=\"_ _3\"></span>218</span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _216\"> </span><span class=\"lsf5 ws112\">8<span class=\"_ _3\"></span>,66<span class=\"_ _3\"></span>4</span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _1cf\"> </span><span class=\"lsfe ws11b\">2,791</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _10b\"> </span><span class=\"ls84 ws9f\">-55<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _27c\"> </span><span class=\"ls36 ws40\">2,237</span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _159\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a2\"> </span><span class=\"lsee ws10b\">1,632</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1f8\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>5</span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co lega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>, Ba<span class=\"_ _3\"></span>rco Solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns BV<span class=\"_ _0\"></span>, G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco De<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus Ltd.Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e net i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng int<span class=\"_ _0\"></span>erest:% no<span class=\"_ _3\"></span>n-In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f eurocontrolling<span class=\"_ _4d\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ed\"> </span>2021<span class=\"_ _14f\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _29f\"> </span>3<span class=\"_ _3\"></span>74<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\"> -20<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"ls4 ws4\"> 618 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _2a0\"> </span>6,<span class=\"_ _3\"></span>628<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">2<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>59<span class=\"_ _cb\"> </span><span class=\"lsef ws10c\"> -741</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _129\"> </span>1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _30\"> </span><span class=\"ls102 ws11f\"> -7<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _d8\"> </span><span class=\"lsf5 ws112\"> -389</span></span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _198\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>343<span class=\"_ _1d0\"> </span><span class=\"ls3c ws48\">238<span class=\"_ _d8\"> </span><span class=\"lsfe ws11b\"> -23<span class=\"_ _3\"></span>3</span></span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _20b\"> </span>146<span class=\"_ _278\"> </span><span class=\"lsf4 ws111\"> 1<span class=\"_ _3\"></span>16 <span class=\"_ _e3\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _219\"> </span><span class=\"ls109 ws126\">-<span class=\"_ _3\"></span>688<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a1\"> </span><span class=\"lsdd wsfa\">-976<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _1f3\"> </span>2<span class=\"_ _5b\"> </span>-<span class=\"_ _5b\"> </span>-Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _12a\"> </span>4,<span class=\"_ _3\"></span>215<span class=\"_ _44\"> </span><span class=\"ls10e ws12b\">1<span class=\"_ _3\"></span>,951<span class=\"_ _cb\"> </span><span class=\"ls1a3 ws276\">-74<span class=\"_ _3\"></span>5</span></span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1a8\"> </span>75<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _c1\"> </span><span class=\"lsdc wsf9\"> -<span class=\"_ _3\"></span>93<span class=\"_ _50\"> </span></span>45%<span class=\"_ _5a\"> </span><span class=\"ls4 ws4\"> 278 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _1f2\"> </span>20%<span class=\"_ _c2\"> </span>1,<span class=\"_ _3\"></span>326<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>51<span class=\"_ _50\"> </span></span>45%<span class=\"_ _58\"> </span><span class=\"lsf5 ws112\"> -33<span class=\"_ _3\"></span>4</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1aa\"> </span>2<span class=\"_ _3\"></span>14<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _148\"> </span><span class=\"lse0 wsfd\"> -3<span class=\"_ _3\"></span>39<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c7\"> </span> -1<span class=\"_ _3\"></span>75</span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _109\"> </span><span class=\"ls138 ws167\">20%<span class=\"_ _51\"> </span></span>-4<span class=\"_ _3\"></span>69<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _4e\"> </span><span class=\"ls103 ws120\">107<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c5\"> </span> -105</span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _266\"> </span>20%<span class=\"_ _3a\"> </span>29<span class=\"_ _14e\"> </span>4<span class=\"_ _3\"></span>5%<span class=\"_ _1a8\"> </span>52<span class=\"_ _151\"> </span><span class=\"lsf5 ws112\">0%<span class=\"_ _98\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _77\"> </span>30%<span class=\"_ _4f\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>6<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a3\"> </span>30%<span class=\"_ _bd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>293<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _249\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>0%<span class=\"_ _255\"> </span></span>1<span class=\"_ _5b\"> </span>-<span class=\"_ _263\"> </span>-Net i<span class=\"_ _0\"></span>ncome attri<span class=\"_ _0\"></span>butable to<span class=\"_ _0\"></span> non-contr<span class=\"_ _0\"></span>olling int<span class=\"_ _0\"></span>erest<span class=\"_ _2a4\"> </span>677<span class=\"_ _278\"> </span><span class=\"lsf5 ws112\">878<span class=\"_ _b3\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5</span></span>Oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me/(los<span class=\"_ _3\"></span>s) for th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, n<span class=\"_ _3\"></span>et of ta<span class=\"_ _3\"></span>x ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>terest a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 2.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022<span class=\"_ _3\"></span>, 2.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021 an<span class=\"_ _3\"></span>d -2.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year, net of ta<span class=\"_ _3\"></span>x, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib-uta<span class=\"_ _3\"></span>ble to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntroll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 3.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022, 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2021 a<span class=\"_ _3\"></span>nd -2.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-74-4": {
   "value": "1. Consolidated companies1.1 List of consolidated companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>Eur<span class=\"_ _3\"></span>ope<span class=\"_ _3\"></span>, Mi<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st a<span class=\"_ _3\"></span>nd Af<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>aBelgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco C<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>rdi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n Ce<span class=\"_ _3\"></span>nter N<span class=\"_ _3\"></span>V<span class=\"_ _1b3\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco I<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>ated S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns NV<span class=\"_ _1b4\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span>Cinionic<span class=\"_ _0\"></span> bv<span class=\"_ _166\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ux<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1, 8<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0 Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>jk B<span class=\"_ _3\"></span>ELGIU<span class=\"_ _3\"></span>M<span class=\"_ _12b\"> </span><span class=\"ls135 ws164\">80</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _1b5\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _1b6\"> </span><span class=\"lse0 wsfd\">70</span></span>Franc<span class=\"_ _0\"></span>e<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco SA<span class=\"_ _3\"></span>S<span class=\"_ _3e\"> </span>17<span class=\"_ _1\"></span>7 aven<span class=\"_ _3\"></span>ue G<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>org<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s Cl\u00e9<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>, Im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le \u201c<span class=\"_ _3\"></span>Le Pl<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>n Ou<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u201d, 9200<span class=\"_ _3\"></span>0 Na<span class=\"_ _3\"></span>nter<span class=\"_ _3\"></span>re FR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>NCE<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l Ro<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>s Gm<span class=\"_ _3\"></span>bH<span class=\"_ _192\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>hst<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H<span class=\"_ _f7\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 Ka<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco S.<span class=\"_ _3\"></span>r.l.<span class=\"_ _1ba\"> </span>Vi<span class=\"_ _3\"></span>a Mo<span class=\"_ _3\"></span>nfe<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ato 7<span class=\"_ _0\"></span>, 20<span class=\"_ _3\"></span>09<span class=\"_ _3\"></span>4 Cor<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>co ITALY<span class=\"_ _128\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span>F<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>M<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span> S<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>r.<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>.<span class=\"_ _1bb\"> </span><span class=\"ls4 ws4\">Vi<span class=\"_ _3\"></span>a Vi<span class=\"_ _3\"></span>tto<span class=\"_ _3\"></span>r Pi<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ni 6<span class=\"_ _3\"></span>, 201<span class=\"_ _3\"></span>24 Mil<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o ITALY<span class=\"_ _1bc\"> </span><span class=\"lsde wsfb\">100</span></span>Netherlands<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco B<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _1bd\"> </span>Zui<span class=\"_ _3\"></span>dp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>in 1<span class=\"_ _3\"></span>26, W<span class=\"_ _1\"></span>TC T<span class=\"_ _0\"></span>owe<span class=\"_ _3\"></span>r H, F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or 1<span class=\"_ _3\"></span>5, 107<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>V A<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>terd<span class=\"_ _3\"></span>am N<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>TH<span class=\"_ _3\"></span>ERL<span class=\"_ _1\"></span>AND<span class=\"_ _3\"></span>S<span class=\"_ _28\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Norway<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Fred<span class=\"_ _3\"></span>rik<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>S<span class=\"_ _13a\"> </span>Hab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nvei<span class=\"_ _3\"></span>en 5<span class=\"_ _3\"></span>3, 16<span class=\"_ _3\"></span>30 G<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>le Fre<span class=\"_ _3\"></span>dri<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>ORWAY<span class=\"_ _ce\"> </span><span class=\"lsde wsfb\">100</span></span>Poland<span class=\"_ _180\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>p. z o.<span class=\"_ _3\"></span>o.<span class=\"_ _f6\"> </span>Ann<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>l 17<span class=\"_ _0\"></span>, 03<span class=\"_ _3\"></span>-2<span class=\"_ _3\"></span>36 War<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>w PO<span class=\"_ _3\"></span>L<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ND<span class=\"_ _1bf\"> </span><span class=\"lsde wsfb\">100</span></span>Russia<span class=\"_ _1b1\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s OO<span class=\"_ _3\"></span>O<span class=\"_ _1c0\"> </span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ice 1<span class=\"_ _3\"></span>, Fl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>r 3, Ko<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>yu<span class=\"_ _3\"></span>ka s<span class=\"_ _3\"></span>tr., 3, 1<span class=\"_ _3\"></span>2951<span class=\"_ _3\"></span>5 M<span class=\"_ _3\"></span>osco<span class=\"_ _3\"></span>w RUS<span class=\"_ _3\"></span>SIA<span class=\"_ _3\"></span>N FED<span class=\"_ _3\"></span>ER<span class=\"_ _3\"></span>ATIO<span class=\"_ _3\"></span>N<span class=\"_ _2d\"> </span><span class=\"lsde wsfb\">100</span></span>Saudi Arabia<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco In<span class=\"_ _3\"></span>teg<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d So<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns S<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>di A<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ia fo<span class=\"_ _3\"></span>r Bus<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span>L<span class=\"_ _3\"></span>ays<span class=\"_ _3\"></span>en Va<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>y, King K<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>d Rd<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>O<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>ba R<span class=\"_ _3\"></span>d., P<span class=\"_ _3\"></span>lot 3<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>5, B<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng 3<span class=\"_ _3\"></span>3, 2n<span class=\"_ _3\"></span>d f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>r, Riy<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>h SAU<span class=\"_ _3\"></span>DI A<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AB<span class=\"_ _3\"></span>IA<span class=\"_ _147\"> </span><span class=\"lsde wsfb\">100</span></span>Spain<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _163\"> </span>Trave<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a de le<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ts 241, En<span class=\"_ _3\"></span>tlo<span class=\"_ _3\"></span>. 3a<span class=\"_ _3\"></span>, 08<span class=\"_ _3\"></span>028 Ba<span class=\"_ _3\"></span>rce<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>a SPAI<span class=\"_ _3\"></span>N<span class=\"_ _1c2\"> </span><span class=\"lsde wsfb\">100</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Sv<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>e AB<span class=\"_ _1c3\"> </span>c/o Gr<span class=\"_ _3\"></span>ant T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 22<span class=\"_ _3\"></span>30, 4<span class=\"_ _3\"></span>03 14 G\u00f6<span class=\"_ _3\"></span>teb<span class=\"_ _3\"></span>org S<span class=\"_ _3\"></span>WED<span class=\"_ _3\"></span>EN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n AB<span class=\"_ _19f\"> </span>c/o G<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt T<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rnto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 2<span class=\"_ _3\"></span>230<span class=\"_ _3\"></span>, 403 14 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rg SW<span class=\"_ _3\"></span>EDEN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco A<span class=\"_ _3\"></span>B<span class=\"_ _1c4\"> </span>Kun<span class=\"_ _3\"></span>gsg<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>an 4<span class=\"_ _3\"></span>, 411 1<span class=\"_ _3\"></span>9 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>g SWED<span class=\"_ _3\"></span>EN<span class=\"_ _b4\"> </span><span class=\"lse0 wsfd\">70</span></span>United<span class=\"_ _0\"></span> Arab Emirat<span class=\"_ _0\"></span>es*<span class=\"_ _81\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Mid<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st L<span class=\"_ _3\"></span>.L<span class=\"_ _3\"></span>.C<span class=\"_ _3\"></span>.<span class=\"_ _196\"> </span>Con<span class=\"_ _3\"></span>cord Tower, Sui<span class=\"_ _3\"></span>te 12<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2, P<span class=\"_ _3\"></span>O Box 4<span class=\"_ _3\"></span>87<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>6, D<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>i Me<span class=\"_ _3\"></span>dia C<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, Dub<span class=\"_ _3\"></span>ai U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED AR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>B EMI<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>ATES<span class=\"_ _cb\"> </span><span class=\"ls10e ws12b\">49</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>Bui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 329, D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>le Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, RG1<span class=\"_ _3\"></span>2 8<span class=\"_ _3\"></span>PE B<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ckn<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l, B<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>re UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>OM<span class=\"_ _99\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco D<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus L<span class=\"_ _3\"></span>td.<span class=\"_ _1a9\"> </span>24 Ol<span class=\"_ _3\"></span>d Q<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>en St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, S<span class=\"_ _3\"></span>W1H 9<span class=\"_ _3\"></span>HP Lo<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>n UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>DO<span class=\"_ _3\"></span>M<span class=\"_ _1c5\"> </span><span class=\"lse0 wsfd\">70</span></span>(*) <span class=\"_ _8\"> </span>B<span class=\"_ _3\"></span>arc<span class=\"_ _3\"></span>o has co<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>rol o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ele<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>f th<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y by v<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f a con<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l a<span class=\"_ _3\"></span>gre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t wit<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l in<span class=\"_ _3\"></span>ves<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>r.Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasBrazi<span class=\"_ _3\"></span>l<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd<span class=\"_ _3\"></span>..<span class=\"_ _1c6\"> </span>Av. Ibi<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>pu<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a, 2<span class=\"_ _3\"></span>332<span class=\"_ _3\"></span>, 8<span class=\"_ _3\"></span>\u00b0 an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>r, conj 82, Torre I<span class=\"_ _3\"></span>I, M<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>, 0<span class=\"_ _3\"></span>4028<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>02 S<span class=\"_ _3\"></span>\u00e3o P<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>lo B<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ZIL<span class=\"_ _117\"> </span><span class=\"lsde wsfb\">100</span></span>Canada<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">MT<span class=\"_ _1\"></span>T Inn<span class=\"_ _3\"></span>ov<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>d<span class=\"_ _1c8\"> </span>Su<span class=\"_ _3\"></span>ite 2400<span class=\"_ _3\"></span>, 7<span class=\"_ _0\"></span>45 T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>low St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, V6<span class=\"_ _3\"></span>E 0C<span class=\"_ _3\"></span>5 Van<span class=\"_ _3\"></span>cou<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>r, BC CAN<span class=\"_ _3\"></span>AD<span class=\"_ _3\"></span>A<span class=\"_ _b1\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Colombia<span class=\"_ _a6\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ia S<span class=\"_ _3\"></span>AS<span class=\"_ _1c9\"> </span>Ca<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>ra 1<span class=\"_ _3\"></span>5, n\u00b0 8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4, Torre Zi<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>a Of<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>na 610<span class=\"_ _3\"></span>, 110<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>1 Bo<span class=\"_ _3\"></span>go<span class=\"_ _3\"></span>ta COLOM<span class=\"_ _3\"></span>BI<span class=\"_ _3\"></span>A<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l S<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _9a\"> </span>Ma<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o Es<span class=\"_ _3\"></span>cob<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>o No<span class=\"_ _3\"></span>. 476 Piso 10 C<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>zure<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, C.<span class=\"_ _3\"></span>P<span class=\"_ _0\"></span>. 1<span class=\"_ _3\"></span>159<span class=\"_ _3\"></span>0 D.<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>. M\u00e9<span class=\"_ _3\"></span>xico M<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>XI<span class=\"_ _3\"></span>CO<span class=\"_ _118\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>. d<span class=\"_ _3\"></span>e C.V.<span class=\"_ _1cb\"> </span>Ar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>o de<span class=\"_ _3\"></span>l Vall<span class=\"_ _3\"></span>e Ar<span class=\"_ _3\"></span>izp<span class=\"_ _3\"></span>e 16, 2<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>o pis<span class=\"_ _3\"></span>o, Co<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>l Val<span class=\"_ _3\"></span>le, CP 0310<span class=\"_ _3\"></span>0 Ne<span class=\"_ _3\"></span>w Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co cit<span class=\"_ _3\"></span>y (CD<span class=\"_ _3\"></span>MX<span class=\"_ _3\"></span>) ME<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>ICO<span class=\"_ _8f\"> </span><span class=\"ls135 ws164\">80</span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco, In<span class=\"_ _3\"></span>c.<span class=\"_ _1c6\"> </span>120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>e Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, 19<span class=\"_ _3\"></span>801 W<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n DE U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cc\"> </span><span class=\"lsde wsfb\">100</span></span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span>Cinionic<span class=\"_ _0\"></span> Inc.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>108<span class=\"_ _3\"></span>0 Whi<span class=\"_ _3\"></span>te Ro<span class=\"_ _3\"></span>ck Roa<span class=\"_ _3\"></span>d, S<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>te 100<span class=\"_ _3\"></span>, 956<span class=\"_ _3\"></span>70 Ran<span class=\"_ _3\"></span>ch<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>rdov<span class=\"_ _3\"></span>a C<span class=\"_ _3\"></span>A UNI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cd\"> </span><span class=\"ls135 ws164\">80</span></span>Asia-Pa<span class=\"_ _3\"></span>cificAustralia<span class=\"_ _dc\"> </span><span class=\"ls4 ws4\">Barco Sys<span class=\"_ _3\"></span>tem<span class=\"_ _3\"></span>s P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Ltd.<span class=\"_ _17b\"> </span>2 Roc<span class=\"_ _3\"></span>kle<span class=\"_ _3\"></span>a Dr<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>, VI<span class=\"_ _3\"></span>C 3207 Po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Me<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _1ce\"> </span><span class=\"lsde wsfb\">100</span></span>Australia<span class=\"_ _dc\"> </span>C<span class=\"_ _0\"></span>inionic Pt<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _1c3\"> </span><span class=\"ls4 ws4\">C/- Accru M<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e Pt<span class=\"_ _3\"></span>y L<span class=\"_ _3\"></span>td. 5<span class=\"_ _3\"></span>0 Ca<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l Roa<span class=\"_ _3\"></span>d, V<span class=\"_ _3\"></span>IC 31<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3 Haw<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rn E<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _dd\"> </span><span class=\"ls135 ws164\">80</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Tradi<span class=\"_ _3\"></span>ng (<span class=\"_ _3\"></span>Sha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gha<span class=\"_ _3\"></span>i) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1cd\"> </span>Ro<span class=\"_ _3\"></span>om 702<span class=\"_ _3\"></span>, No<span class=\"_ _3\"></span>. 13<span class=\"_ _3\"></span>8, Fe<span class=\"_ _3\"></span>nya<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, 20<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>031 Sh<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>ai CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _159\"> </span><span class=\"lsde wsfb\">100</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _117\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>d, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>n Cun S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ce Par<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 1022<span class=\"_ _3\"></span>00 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _60\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span>Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _1cf\"> </span><span class=\"ls105\">No. 16 C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng Pi<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Zho<span class=\"_ _3\"></span>ng G<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>an Cu<span class=\"_ _3\"></span>n Sc<span class=\"_ _3\"></span>ien<span class=\"_ _3\"></span>ce Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g Pi<span class=\"_ _3\"></span>ng D<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t, 102<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0 Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g CHI<span class=\"_ _3\"></span>NA<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>a Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>iza<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y (N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>jin<span class=\"_ _3\"></span>g) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _c6\"> </span>No. 1<span class=\"_ _3\"></span>, H<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t zon<span class=\"_ _3\"></span>e, 210<span class=\"_ _3\"></span>038 N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Ji<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>u CHIN<span class=\"_ _3\"></span>A<span class=\"_ _19b\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou) H<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>lth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1d0\"> </span>No. 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, Su<span class=\"_ _3\"></span>ton<span class=\"_ _3\"></span>g Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Suz<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>u In<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>l Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, 2<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>021 S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _182\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (<span class=\"_ _3\"></span>Wux<span class=\"_ _3\"></span>i) Techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _102\"> </span>B31<span class=\"_ _3\"></span>2-10<span class=\"_ _3\"></span>9, No. 3<span class=\"_ _3\"></span>, Fen<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>wei R<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>d, H<span class=\"_ _3\"></span>uiz<span class=\"_ _3\"></span>hi Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, Xisha<span class=\"_ _3\"></span>n d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent zo<span class=\"_ _3\"></span>ne, 2<span class=\"_ _3\"></span>14101 Wuxi C<span class=\"_ _3\"></span>HIN<span class=\"_ _3\"></span>A<span class=\"_ _1aa\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd.<span class=\"_ _1bd\"> </span>Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwun Tong<span class=\"_ _3\"></span>, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l Ele<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>., Ltd.<span class=\"_ _109\"> </span>S<span class=\"_ _3\"></span>uite 26<span class=\"_ _3\"></span>07-2610, 26/F<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>rosp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, 25 Chon<span class=\"_ _3\"></span>g Y<span class=\"_ _3\"></span>ip St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, Kw<span class=\"_ _3\"></span>un T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Chi<span class=\"_ _3\"></span>na (<span class=\"_ _3\"></span>Ho<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>) Ltd.<span class=\"_ _1d2\"> </span>Su<span class=\"_ _3\"></span>ite 2607-2610, 2<span class=\"_ _3\"></span>6/F<span class=\"_ _0\"></span>, Pro<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nter, 25 Ch<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>N<span class=\"_ _3\"></span>G<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>NG<span class=\"_ _d0\"> </span><span class=\"ls135 ws164\">80</span></span>India<span class=\"_ _1d3\"> </span>Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms P<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Ltd.<span class=\"_ _1cd\"> </span><span class=\"ls134\">c/o Per<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct A<span class=\"_ _3\"></span>ccou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g &amp; Sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>d Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces P<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>Ltd<span class=\"_ _3\"></span>., E-20, 1<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t &amp; 2nd F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or, Mai<span class=\"_ _3\"></span>n Ma<span class=\"_ _3\"></span>rke<span class=\"_ _3\"></span>t, H<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>z Kha<span class=\"_ _3\"></span>s, 1<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>016 N<span class=\"_ _3\"></span>ew D<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>hi IN<span class=\"_ _3\"></span>DI<span class=\"_ _3\"></span>A<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Japan<span class=\"_ _1d4\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _121\"> </span>Yama<span class=\"_ _3\"></span>to Inte<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l Bld<span class=\"_ _3\"></span>g 8<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, 5<span class=\"_ _3\"></span>-1-1 He<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>aj<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>a, O<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ku<span class=\"_ _3\"></span>, 143-<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ky<span class=\"_ _3\"></span>o JAPAN<span class=\"_ _a0\"> </span><span class=\"lsde wsfb\">100</span></span>Malaysia<span class=\"_ _dc\"> </span>B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>dn<span class=\"_ _3\"></span>. Bh<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>.<span class=\"_ _193\"> </span><span class=\"lsda wsf7\">No. 13A, Jalan SS21/5<span class=\"_ _0\"></span>6B, Damansara Utama,<span class=\"_ _0\"></span> 47<span class=\"_ _0\"></span>400 Pe<span class=\"_ _0\"></span>taling Jaya,<span class=\"_ _0\"></span> Selangor MAL<span class=\"_ _3\"></span>AY<span class=\"_ _0\"></span>SIA<span class=\"_ _dc\"> </span><span class=\"lsde wsfb\">100</span></span>Sin<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>re<span class=\"_ _a6\"> </span>Barco Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ore P<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>te Lim<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>d<span class=\"_ _2d\"> </span><span class=\"lsda wsf7\">100G Pasir<span class=\"_ _0\"></span> Panjang Road<span class=\"_ _0\"></span> Interlocal<span class=\"_ _0\"></span> Center<span class=\"_ _0\"></span>, 1185<span class=\"_ _0\"></span>23 Singapore<span class=\"_ _0\"></span> SINGAP<span class=\"_ _3\"></span>ORE<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>South K<span class=\"_ _0\"></span>orea<span class=\"_ _1d5\"> </span>Ba<span class=\"_ _3\"></span>rco Kore<span class=\"_ _3\"></span>a Ltd.<span class=\"_ _159\"> </span><span class=\"ls1aa\">1F<span class=\"_ _0\"></span>. &amp; 3F<span class=\"_ _0\"></span>., D<span class=\"_ _3\"></span>S T<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>er, 72-1<span class=\"_ _3\"></span>3 (Gw<span class=\"_ _3\"></span>anY<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g), B<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>lM<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Ro, D<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>An<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>Gu<span class=\"_ _3\"></span>, Gye<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>gG<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>o, 1405<span class=\"_ _3\"></span>8 AnYang<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>si KOR<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, REP<span class=\"_ _3\"></span>UB<span class=\"_ _3\"></span>LI<span class=\"_ _3\"></span>C OF<span class=\"_ _55\"> </span><span class=\"lsde wsfb\">100</span></span>Ta<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>w<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>n<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Barco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>33F<span class=\"_ _0\"></span>., N<span class=\"_ _3\"></span>o. 16, X<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>zha<span class=\"_ _3\"></span>n Rd<span class=\"_ _3\"></span>., Ba<span class=\"_ _3\"></span>nq<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>o Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>., 22<span class=\"_ _3\"></span>0 New Taip<span class=\"_ _3\"></span>ei Ci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y T<span class=\"_ _0\"></span>A<span class=\"_ _3\"></span>IWAN<span class=\"_ _3\"></span>, PR<span class=\"_ _3\"></span>OVI<span class=\"_ _3\"></span>NCE O<span class=\"_ _3\"></span>F CHI<span class=\"_ _3\"></span>NA<span class=\"_ _1d6\"> </span><span class=\"lsde wsfb\">100</span></span>1.2 List of equity accounted companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasUnited<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">CCO Barco A<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Vent<span class=\"_ _3\"></span>ure LLC<span class=\"_ _1d7\"> </span>Cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Trus<span class=\"_ _3\"></span>t Cente<span class=\"_ _3\"></span>r, 120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, 1<span class=\"_ _3\"></span>98<span class=\"_ _3\"></span>01 Wi<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n (D<span class=\"_ _3\"></span>E) UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>TA<span class=\"_ _0\"></span>TE<span class=\"_ _3\"></span>S<span class=\"_ _1c7\"> </span><span class=\"ls89 wsa4\">35</span></span>Asia-Pa<span class=\"_ _3\"></span>cificChina<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">CFG Barco (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _18f\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gsh<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>uan C<span class=\"_ _3\"></span>un S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nce P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 10220<span class=\"_ _3\"></span>0 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _62\"> </span><span class=\"ls10e ws12b\">49</span></span>Exemption<span class=\"_ _0\"></span> of publishing financ<span class=\"_ _0\"></span>ial statemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and management<span class=\"_ _0\"></span> repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ge<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>an le<span class=\"_ _3\"></span>gisl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on \u00a726<span class=\"_ _3\"></span>4 Ab<span class=\"_ _3\"></span>s. 3 H<span class=\"_ _3\"></span>GB:Foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y-<span class=\"_ _1\"></span>comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e rele<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d of pu<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ishi<span class=\"_ _3\"></span>ng their financi<span class=\"_ _0\"></span>al statements and<span class=\"_ _0\"></span> management report 20<span class=\"_ _0\"></span>22:\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>arco Contro<span class=\"_ _3\"></span>l Roo<span class=\"_ _3\"></span>ms G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>HTh<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>idat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n scop<span class=\"_ _3\"></span>e of Barco Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ated 2022 as l<span class=\"_ _3\"></span>isted a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ve.11. Investments and interest in associatesInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco ow<span class=\"_ _3\"></span>ns les<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 20% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for as f<span class=\"_ _3\"></span>air va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e throu<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, as dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d at mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of in<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h imp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>es that t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on a fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is wit<span class=\"_ _3\"></span>h dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>oss or other<span class=\"_ _0\"></span> comprehensiv<span class=\"_ _0\"></span>e income.(a<span class=\"_ _0\"></span>) Inv<span class=\"_ _0\"></span>estmentsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _268\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1d5\"> </span>2021<span class=\"_ _1ff\"> </span>2020</span>Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _269\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _1f1\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8<span class=\"_ _267\"> </span><span class=\"ls3c ws48\">23,2<span class=\"_ _3\"></span>15</span></span>Additions<span class=\"_ _26a\"> </span>14,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>93<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _260\"> </span><span class=\"lsf5 ws112\">52,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>3</span></span>Divestments<span class=\"_ _165\"> </span>-<span class=\"_ _3\"></span>4,384<span class=\"_ _da\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,9<span class=\"_ _3\"></span>93<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">-</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e<span class=\"_ _25d\"> </span>-2<span class=\"_ _3\"></span>3,0<span class=\"_ _3\"></span>04<span class=\"_ _e3\"> </span><span class=\"lsdd wsfa\">9,9<span class=\"_ _3\"></span>45<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">18<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331</span></span>T<span class=\"_ _0\"></span>ransl<span class=\"_ _3\"></span>ation gains/(losses)3,0<span class=\"_ _3\"></span>03<span class=\"_ _e3\"> </span><span class=\"lse9 ws106\">4,955</span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591Clo<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 31 De<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _26b\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _267\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _a7\"> </span>8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket pri<span class=\"_ _3\"></span>ce. For in<span class=\"_ _3\"></span>vest<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re pub<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cly qu<span class=\"_ _3\"></span>oted in a<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tive m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket, t<span class=\"_ _3\"></span>he qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (<span class=\"_ _3\"></span>level 1<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n un<span class=\"_ _3\"></span>realized l<span class=\"_ _3\"></span>oss of -2<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>oss is ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y a gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>bal s<span class=\"_ _3\"></span>tock m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in 2022 com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021. Fur<span class=\"_ _1\"></span>the<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a ne<span class=\"_ _3\"></span>w min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w regu<span class=\"_ _3\"></span>lator<span class=\"_ _1\"></span>y thre<span class=\"_ _3\"></span>sho<span class=\"_ _3\"></span>ld leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, wa<span class=\"_ _3\"></span>s ta<span class=\"_ _3\"></span>ken (14.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-out i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d a min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake w<span class=\"_ _3\"></span>as so<span class=\"_ _3\"></span>ld, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in i<span class=\"_ _3\"></span>n 2022, b<span class=\"_ _3\"></span>oth ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018oth<span class=\"_ _3\"></span>er in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d 0.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro ga<span class=\"_ _3\"></span>in reali<span class=\"_ _3\"></span>zed sin<span class=\"_ _3\"></span>ce the m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s unti<span class=\"_ _3\"></span>l divestment<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed in other <span class=\"_ _0\"></span>comprehensiv<span class=\"_ _0\"></span>e income r<span class=\"_ _0\"></span>eser<span class=\"_ _3\"></span>ve. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease in i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from 2020 to 2021 is re<span class=\"_ _3\"></span>lated to a sol<span class=\"_ _3\"></span>d min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low reg<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>d level<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le resu<span class=\"_ _3\"></span>lted in 55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in in 202<span class=\"_ _3\"></span>1, ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ine \u2018othe<span class=\"_ _3\"></span>r inves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>viti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d 25<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro gain rea<span class=\"_ _3\"></span>lized si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, whi<span class=\"_ _3\"></span>ch was ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds un<span class=\"_ _3\"></span>til d<span class=\"_ _3\"></span>ives<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve. T<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ted to 9.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e (2020: 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _266\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _14d\"> </span>2021<span class=\"_ _e3\"> </span>2020</span>Investments<span class=\"_ _31\"> </span>(a)<span class=\"_ _a7\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _c9\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _267\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b1\"> </span><span class=\"ls138 ws167\">(b)<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _20a\"> </span></span>20,87<span class=\"_ _3\"></span>2<span class=\"_ _c9\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> interest in<span class=\"_ _0\"></span> associates<span class=\"_ _163\"> </span><span class=\"ls131 ws161\">64,811<span class=\"_ _22\"> </span>68,00<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>6,9<span class=\"_ _3\"></span>42</span></span>Int<span class=\"_ _0\"></span>erest in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>es repres<span class=\"_ _0\"></span>ents entities i<span class=\"_ _0\"></span>n which Bar<span class=\"_ _0\"></span>co o<span class=\"_ _0\"></span>wns bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een 20% a<span class=\"_ _3\"></span>nd 50% o<span class=\"_ _3\"></span>f the s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s.(b<span class=\"_ _0\"></span>) Inter<span class=\"_ _0\"></span>est in ass<span class=\"_ _0\"></span>ociatesInteres<span class=\"_ _3\"></span>t in as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciates<span class=\"_ _3\"></span>, in 2022 - 2020, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt in Ba<span class=\"_ _3\"></span>rcoCFG an<span class=\"_ _3\"></span>d CC<span class=\"_ _0\"></span>O B<span class=\"_ _3\"></span>arco Ai<span class=\"_ _3\"></span>rpo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Venture<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup\u2019s sh<span class=\"_ _3\"></span>are of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s and l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 an<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es of t<span class=\"_ _3\"></span>he joi<span class=\"_ _3\"></span>nt vent<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>nd as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciates for t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich are a<span class=\"_ _3\"></span>ccounte<span class=\"_ _3\"></span>d for usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y me<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d: Summarized balance sheetBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _1a6\"> </span>12,18<span class=\"_ _3\"></span>5<span class=\"_ _30\"> </span>30,46<span class=\"_ _3\"></span>7<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">42,652<span class=\"_ _30\"> </span></span>38,<span class=\"_ _3\"></span>822<span class=\"_ _90\"> </span><span class=\"ls89 wsa4\">21,<span class=\"_ _3\"></span>355<span class=\"_ _b3\"> </span><span class=\"lsed ws10a\">60,17<span class=\"_ _3\"></span>7</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _20c\"> </span>58,<span class=\"_ _3\"></span>842<span class=\"_ _252\"> </span>11<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5<span class=\"_ _b3\"> </span>70,627<span class=\"_ _30\"> </span>45<span class=\"_ _3\"></span>,535<span class=\"_ _1d0\"> </span><span class=\"lse3 ws100\">9,3<span class=\"_ _3\"></span>03<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">5<span class=\"_ _3\"></span>4,838</span></span>T<span class=\"_ _0\"></span>otal current assets<span class=\"_ _236\"> </span>71,027<span class=\"_ _d8\"> </span>42,<span class=\"_ _3\"></span>252<span class=\"_ _47\"> </span>11<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>279<span class=\"_ _44\"> </span>8<span class=\"_ _3\"></span>4,356<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\">30,6<span class=\"_ _3\"></span>59<span class=\"_ _3b\"> </span><span class=\"ls1b1 ws283\">115,<span class=\"_ _0\"></span>015</span></span>Non-current assets<span class=\"_ _f5\"> </span>7,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _1af\"> </span>9,<span class=\"_ _3\"></span>437<span class=\"_ _39\"> </span>16,4<span class=\"_ _3\"></span>87<span class=\"_ _1f4\"> </span>8,962<span class=\"_ _1d0\"> </span><span class=\"lsee ws10b\">8,2<span class=\"_ _3\"></span>57<span class=\"_ _90\"> </span><span class=\"ls3c ws48\">17<span class=\"_ _0\"></span>,<span class=\"_ _3\"></span>219</span></span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _203\"> </span>5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>070<span class=\"_ _90\"> </span>13<span class=\"_ _3\"></span>,27<span class=\"_ _3\"></span>9<span class=\"_ _d8\"> </span>63,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _39\"> </span>70,<span class=\"_ _3\"></span>225<span class=\"_ _38\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,610<span class=\"_ _b3\"> </span><span class=\"ls89 wsa4\">81,835</span></span>T<span class=\"_ _0\"></span>otal current liabiliti<span class=\"_ _3\"></span>es<span class=\"_ _26c\"> </span>50,07<span class=\"_ _3\"></span>0<span class=\"_ _39\"> </span>13,27<span class=\"_ _3\"></span>9<span class=\"_ _44\"> </span>63,<span class=\"_ _3\"></span>349<span class=\"_ _30\"> </span>70,<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>5<span class=\"_ _b3\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,610<span class=\"_ _30\"> </span><span class=\"ls131 ws161\">81,<span class=\"_ _3\"></span>835</span></span>Other non-current li<span class=\"_ _0\"></span>abilities<span class=\"_ _187\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _1b7\"> </span>1<span class=\"_ _26d\"> </span>1</span>T<span class=\"_ _0\"></span>otal non-current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a7\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>1<span class=\"_ _a2\"> </span>1</span>Net assets<span class=\"_ _201\"> </span>28,0<span class=\"_ _3\"></span>07<span class=\"_ _d3\"> </span>3<span class=\"_ _3\"></span>8,409<span class=\"_ _30\"> </span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,416<span class=\"_ _d8\"> </span>23,093<span class=\"_ _30\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>5<span class=\"_ _30\"> </span><span class=\"lsfe ws11b\">50,<span class=\"_ _3\"></span>398</span></span>Reconciliat<span class=\"_ _0\"></span>ion to carrying amountsOp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _26e\"> </span>23<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _90\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _30\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>398<span class=\"_ _39\"> </span><span class=\"lsf7 ws114\">2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>324<span class=\"_ _b3\"> </span><span class=\"ls103 ws120\">25,<span class=\"_ _3\"></span>070<span class=\"_ _b3\"> </span></span></span></span>4<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4</span>Prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _221\"> </span>5<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>41<span class=\"_ _1d0\"> </span>9,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span>1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>176<span class=\"_ _1af\"> </span>6,180<span class=\"_ _26f\"> </span><span class=\"ls10a ws127\">137<span class=\"_ _1af\"> </span><span class=\"lsf4 ws111\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e (CTA)<span class=\"_ _270\"> </span>-7<span class=\"_ _3\"></span>28<span class=\"_ _da\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>570<span class=\"_ _c9\"> </span>842<span class=\"_ _1f4\"> </span><span class=\"lsed ws10a\">2,466<span class=\"_ _1f4\"> </span>2,098<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">4,56<span class=\"_ _3\"></span>4</span></span>Dividends paid<span class=\"_ _17\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _21f\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _a6\"> </span></span>-<span class=\"_ _21f\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>6</span></span>Closing net ass<span class=\"_ _3\"></span>ets<span class=\"_ _271\"> </span>28,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>07<span class=\"_ _1ed\"> </span><span class=\"lsed ws10a\">38,409<span class=\"_ _39\"> </span></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,416<span class=\"_ _272\"> </span>23<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _90\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _30\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>398</span></span>Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n %<span class=\"_ _1a2\"> </span>49%<span class=\"_ _140\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>5%<span class=\"_ _25e\"> </span></span>-<span class=\"_ _1f1\"> </span>49%<span class=\"_ _140\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _25e\"> </span></span>-Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are<span class=\"_ _273\"> </span>13,723<span class=\"_ _39\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _d1\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _21f\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316<span class=\"_ _274\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57<span class=\"_ _272\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _3\"></span>,872</span></span>Carrying amount<span class=\"_ _275\"> </span>13,723<span class=\"_ _39\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _d1\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _21f\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316<span class=\"_ _274\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57<span class=\"_ _272\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _3\"></span>,872</span></span>Summarized statement of comprehensive incomeBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _276\"> </span>5,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>41<span class=\"_ _150\"> </span>9,5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4<span class=\"_ _49\"> </span>1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14f\"> </span>6,180<span class=\"_ _1af\"> </span><span class=\"ls10a ws127\">137<span class=\"_ _44\"> </span><span class=\"lsf4 ws111\">6,<span class=\"_ _3\"></span>316</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e (CTA)<span class=\"_ _277\"> </span>-7<span class=\"_ _3\"></span>28<span class=\"_ _44\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>570<span class=\"_ _278\"> </span>842<span class=\"_ _150\"> </span><span class=\"lsed ws10a\">2,466<span class=\"_ _144\"> </span>2,098<span class=\"_ _3b\"> </span><span class=\"lse9 ws106\">4,<span class=\"_ _3\"></span>564</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me<span class=\"_ _279\"> </span>4,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _49\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>105<span class=\"_ _1f6\"> </span>16,018<span class=\"_ _144\"> </span>8,64<span class=\"_ _3\"></span>6<span class=\"_ _150\"> </span><span class=\"ls3c ws48\">2,234<span class=\"_ _215\"> </span><span class=\"ls36 ws40\">10,880</span></span>Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n %<span class=\"_ _27a\"> </span>49%<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _5b\"> </span></span>-<span class=\"_ _21f\"> </span>49%<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _263\"> </span></span>-Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _1d2\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span><span class=\"lse9 ws106\">3,<span class=\"_ _3\"></span>337<span class=\"_ _1ed\"> </span><span class=\"lsde wsfb\">6<span class=\"_ _3\"></span>,101<span class=\"_ _150\"> </span>3<span class=\"_ _3\"></span>,028<span class=\"_ _20a\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _14f\"> </span></span></span></span>3<span class=\"_ _3\"></span>,076</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _270\"> </span>-<span class=\"_ _d3\"> </span><span class=\"lse9 ws106\">3,33<span class=\"_ _3\"></span>7<span class=\"_ _14f\"> </span>3<span class=\"_ _3\"></span>,337<span class=\"_ _5b\"> </span></span>-<span class=\"_ _20a\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _aa\"> </span>48</span>Included in other<span class=\"_ _0\"></span> op<span class=\"_ _3\"></span>erating income                                        3(<span class=\"_ _0\"></span>d)<span class=\"_ _1f0\"> </span>2,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>4<span class=\"_ _5b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _14f\"> </span></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>4<span class=\"_ _150\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>028<span class=\"_ _5b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _150\"> </span></span>3<span class=\"_ _3\"></span>,028</span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as no co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>mit<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n to it<span class=\"_ _3\"></span>s ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>tes as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020<span class=\"_ _3\"></span>.For a<span class=\"_ _3\"></span>ll eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ccounted in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019s or ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>\u2019s conse<span class=\"_ _3\"></span>nt is req<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>red to dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bute it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>s; whi<span class=\"_ _3\"></span>ch is not d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y accou<span class=\"_ _3\"></span>nted inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s di<span class=\"_ _3\"></span>d not re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ize items in oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>.17<span class=\"_ _2\"></span>. Non-controlling interestTh<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y intere<span class=\"_ _3\"></span>st he<span class=\"_ _3\"></span>ld by no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>ts:Name<span class=\"_ _26f\"> </span>Count<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>y of i<span class=\"_ _0\"></span>ncorporation<span class=\"_ _0\"></span> and operation<span class=\"_ _17c\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _36\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _3d\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _145\"> </span>Hong Kong<span class=\"_ _21d\"> </span>20%<span class=\"_ _40\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _40\"> </span>45%</span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1ef\"> </span>Sw<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>n<span class=\"_ _29a\"> </span><span class=\"lsf5 ws112\">30%<span class=\"_ _cf\"> </span></span>-<span class=\"_ _7e\"> </span>-Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e to non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntrol<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _e2\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _262\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _45\"> </span>20,345<span class=\"_ _2b\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1fb\"> </span><span class=\"ls84 ws9f\">-554<span class=\"_ _10d\"> </span></span>-<span class=\"_ _117\"> </span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bu<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>n-co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>oll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st<span class=\"_ _26d\"> </span>1<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>92<span class=\"_ _da\"> </span><span class=\"lsf9 ws116\"> 41<span class=\"_ _3\"></span>,031<span class=\"_ _3\"></span> <span class=\"_ _274\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _0\"></span>,798</span></span>Up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic, t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s have contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l of Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Ltd. tot<span class=\"_ _3\"></span>ali<span class=\"_ _3\"></span>ng 45% of tot<span class=\"_ _3\"></span>al contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns of USD 10<span class=\"_ _3\"></span>0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns all g<span class=\"_ _3\"></span>ave ri<span class=\"_ _3\"></span>ght to 45% in th<span class=\"_ _3\"></span>e Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>ies\u2019 e<span class=\"_ _3\"></span>quit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd resu<span class=\"_ _3\"></span>lt. In 202<span class=\"_ _3\"></span>2 Ba<span class=\"_ _3\"></span>rco agree<span class=\"_ _3\"></span>d to buy t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>kes h<span class=\"_ _3\"></span>eld by t<span class=\"_ _3\"></span>he minority shareholders Appotr<span class=\"_ _0\"></span>onics and CITIC<span class=\"_ _0\"></span>PE in Ci<span class=\"_ _0\"></span>nionic, incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco\u2019s owner<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture to 80%<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he 20% s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ke is show<span class=\"_ _3\"></span>n as n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>troll<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>ls of C<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c are f<span class=\"_ _3\"></span>ully co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t resu<span class=\"_ _3\"></span>lts i<span class=\"_ _3\"></span>n 2020 - 2022.In ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqu<span class=\"_ _3\"></span>ired 70% of th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive co<span class=\"_ _3\"></span>ntrol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Jul<span class=\"_ _3\"></span>y 2022, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co fig<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re take<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>rom 1 Ju<span class=\"_ _3\"></span>ly, 2022 onwa<span class=\"_ _3\"></span>rds.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l enti<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, 2021 a<span class=\"_ _3\"></span>nd 2020. Assets and Liabilities Cinionic JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ff\"> </span>2021<span class=\"_ _262\"> </span>2020</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1cc\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>,081<span class=\"_ _1f1\"> </span></span> 6,<span class=\"_ _3\"></span>788 <span class=\"_ _1d6\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>1 </span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1c4\"> </span>134,2<span class=\"_ _2\"></span>48<span class=\"_ _252\"> </span><span class=\"lsdc wsf9\"> 1<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>07 <span class=\"_ _39\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span> </span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _17\"> </span>14<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>329<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\"> 121,<span class=\"_ _3\"></span>595 <span class=\"_ _d3\"> </span><span class=\"lsfc ws119\"> 1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 </span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _29c\"> </span>81,<span class=\"_ _3\"></span>381<span class=\"_ _22\"> </span><span class=\"lsdc wsf9\"> 50,<span class=\"_ _3\"></span>149 <span class=\"_ _21f\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>197<span class=\"_ _3\"></span> </span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _29d\"> </span>20,3<span class=\"_ _3\"></span>45<span class=\"_ _1f0\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _1f8\"> </span>101<span class=\"_ _3\"></span>,726<span class=\"_ _2b\"> </span><span class=\"ls4 ws4\"> 91<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>181 <span class=\"_ _252\"> </span> 83,<span class=\"_ _3\"></span>995 </span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _1a7\"> </span>2<span class=\"_ _3\"></span>9,6<span class=\"_ _3\"></span>45<span class=\"_ _22\"> </span><span class=\"lsde wsfb\"> 28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>2 <span class=\"_ _252\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>0 </span></span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _20d\"> </span><span class=\"lsf7 ws114\">4<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>24<span class=\"_ _22\"> </span> 2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span> <span class=\"_ _21f\"> </span> 24,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> </span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1b8\"> </span>171,395<span class=\"_ _90\"> </span><span class=\"lse0 wsfd\"> 146<span class=\"_ _3\"></span>,416 <span class=\"_ _44\"> </span><span class=\"lsfe ws11b\"> 132<span class=\"_ _3\"></span>,601 </span></span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Li<span class=\"_ _3\"></span>mited<span class=\"_ _3\"></span>, Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic bv, Barco Cin<span class=\"_ _3\"></span>eA<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _1\"></span>. de C<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>V., Cinio<span class=\"_ _3\"></span>nic I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Lt<span class=\"_ _0\"></span>d<span class=\"_ _3\"></span>.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nosco le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022. Assets and Liabilities Gnosco JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _29e\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>4<span class=\"_ _4\"> </span>4<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _22d\"> </span><span class=\"lsfb ws118\">1,<span class=\"_ _3\"></span>218</span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _216\"> </span><span class=\"lsf5 ws112\">8<span class=\"_ _3\"></span>,66<span class=\"_ _3\"></span>4</span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _1cf\"> </span><span class=\"lsfe ws11b\">2,791</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _10b\"> </span><span class=\"ls84 ws9f\">-55<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _27c\"> </span><span class=\"ls36 ws40\">2,237</span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _159\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a2\"> </span><span class=\"lsee ws10b\">1,632</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1f8\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>5</span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co lega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>, Ba<span class=\"_ _3\"></span>rco Solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns BV<span class=\"_ _0\"></span>, G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco De<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus Ltd.Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e net i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng int<span class=\"_ _0\"></span>erest:% no<span class=\"_ _3\"></span>n-In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f eurocontrolling<span class=\"_ _4d\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ed\"> </span>2021<span class=\"_ _14f\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _29f\"> </span>3<span class=\"_ _3\"></span>74<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\"> -20<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"ls4 ws4\"> 618 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _2a0\"> </span>6,<span class=\"_ _3\"></span>628<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">2<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>59<span class=\"_ _cb\"> </span><span class=\"lsef ws10c\"> -741</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _129\"> </span>1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _30\"> </span><span class=\"ls102 ws11f\"> -7<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _d8\"> </span><span class=\"lsf5 ws112\"> -389</span></span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _198\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>343<span class=\"_ _1d0\"> </span><span class=\"ls3c ws48\">238<span class=\"_ _d8\"> </span><span class=\"lsfe ws11b\"> -23<span class=\"_ _3\"></span>3</span></span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _20b\"> </span>146<span class=\"_ _278\"> </span><span class=\"lsf4 ws111\"> 1<span class=\"_ _3\"></span>16 <span class=\"_ _e3\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _219\"> </span><span class=\"ls109 ws126\">-<span class=\"_ _3\"></span>688<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a1\"> </span><span class=\"lsdd wsfa\">-976<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _1f3\"> </span>2<span class=\"_ _5b\"> </span>-<span class=\"_ _5b\"> </span>-Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _12a\"> </span>4,<span class=\"_ _3\"></span>215<span class=\"_ _44\"> </span><span class=\"ls10e ws12b\">1<span class=\"_ _3\"></span>,951<span class=\"_ _cb\"> </span><span class=\"ls1a3 ws276\">-74<span class=\"_ _3\"></span>5</span></span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1a8\"> </span>75<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _c1\"> </span><span class=\"lsdc wsf9\"> -<span class=\"_ _3\"></span>93<span class=\"_ _50\"> </span></span>45%<span class=\"_ _5a\"> </span><span class=\"ls4 ws4\"> 278 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _1f2\"> </span>20%<span class=\"_ _c2\"> </span>1,<span class=\"_ _3\"></span>326<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>51<span class=\"_ _50\"> </span></span>45%<span class=\"_ _58\"> </span><span class=\"lsf5 ws112\"> -33<span class=\"_ _3\"></span>4</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1aa\"> </span>2<span class=\"_ _3\"></span>14<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _148\"> </span><span class=\"lse0 wsfd\"> -3<span class=\"_ _3\"></span>39<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c7\"> </span> -1<span class=\"_ _3\"></span>75</span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _109\"> </span><span class=\"ls138 ws167\">20%<span class=\"_ _51\"> </span></span>-4<span class=\"_ _3\"></span>69<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _4e\"> </span><span class=\"ls103 ws120\">107<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c5\"> </span> -105</span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _266\"> </span>20%<span class=\"_ _3a\"> </span>29<span class=\"_ _14e\"> </span>4<span class=\"_ _3\"></span>5%<span class=\"_ _1a8\"> </span>52<span class=\"_ _151\"> </span><span class=\"lsf5 ws112\">0%<span class=\"_ _98\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _77\"> </span>30%<span class=\"_ _4f\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>6<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a3\"> </span>30%<span class=\"_ _bd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>293<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _249\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>0%<span class=\"_ _255\"> </span></span>1<span class=\"_ _5b\"> </span>-<span class=\"_ _263\"> </span>-Net i<span class=\"_ _0\"></span>ncome attri<span class=\"_ _0\"></span>butable to<span class=\"_ _0\"></span> non-contr<span class=\"_ _0\"></span>olling int<span class=\"_ _0\"></span>erest<span class=\"_ _2a4\"> </span>677<span class=\"_ _278\"> </span><span class=\"lsf5 ws112\">878<span class=\"_ _b3\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5</span></span>Oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me/(los<span class=\"_ _3\"></span>s) for th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, n<span class=\"_ _3\"></span>et of ta<span class=\"_ _3\"></span>x ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>terest a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 2.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022<span class=\"_ _3\"></span>, 2.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021 an<span class=\"_ _3\"></span>d -2.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year, net of ta<span class=\"_ _3\"></span>x, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib-uta<span class=\"_ _3\"></span>ble to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntroll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 3.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022, 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2021 a<span class=\"_ _3\"></span>nd -2.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-74-5": {
   "value": "1. Consolidated companies1.2 List of equity accounted companies on 31 December 2022Country of Incorporation Legal Entity Registered Office %AmericasUnited States CCO Barco Airport Venture LLC Corporation Trust Center, 1209 Orange Street, 19801 Wilmington (DE) UNITED STATES 35Asia-PacificChina CFG Barco (Beijing) Electronics Co., Ltd. No. 16 Changsheng Road, Zhong Guan Cun Science Park, Chang Ping District, 102200 Beijing CHINA 4911. Investments and interest in associatesIn thousands of euro 2022 2021 2020Investments (a) 37,645 47,135 87, 228Interest in associates (b) 27,167 20,872 19,713Investments and interest in associates 64,811 68,008 106,942Interest in associates represents entities in which Barco owns between 20% and 50% of the shares.(b) Interest in associatesInterest in associates, in 2022 - 2020, reflects the equity invest-ment in BarcoCFG and CCO Barco Airport Venture.The Group\u2019s share of the assets and liabilities as at 31 December 2022 and 2021 and income and expenses of the joint ventures and associates for the year ended 31 December 2022 and 2021, which are accounted for using the equity method: Summarized balance sheetBarco CFGCCOTotalBarco CFGCCOTotalIn thousands of euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Cash and cash equivalents 12,185 30,467 42,652 38,822 21,355 60,177Other current assets 58,842 11,785 70,627 45,535 9,303 54,838Total current assets 71,027 42,252 113,279 84,356 30,659 115,015Non-current assets 7,050 9,437 16,487 8,962 8,257 17,219Other current liabilities 50,070 13,279 63,349 70,225 11,610 81,835Total current liabilities 50,070 13,279 63,349 70,225 11,610 81,835Other non-current liabilities - - - - 1 1Total non-current liabilities - - - - 1 1Net assets 28,007 38,409 66,416 23,093 27,305 50,398Reconciliation to carrying amountsOpening net assets 1 January 23,093 27,305 50,398 22,324 25,070 47,394Profit/(loss) for the period 5,641 9,534 15,176 6,180 137 6,316Other comprehensive income (CTA) -728 1,570 842 2,466 2,098 4,564Dividends paid - - - -7,876 - -7,876Closing net assets 28,007 38,409 66,416 23,093 27,305 50,398Group\u2019s share in % 49% 35% - 49% 35% -Group\u2019s share 13,723 13,443 27,167 11,316 9,557 20,872Carrying amount 13,723 13,443 27,167 11,316 9,557 20,872Summarized statement of comprehensive incomeBarco CFGCCOTotalBarco CFGCCOTotalIn thousands of euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Profit/(loss) for the period 5,641 9,534 15,176 6,180 137 6,316Other comprehensive income (CTA) -728 1,570 842 2,466 2,098 4,564Total comprehensive income 4,913 11,105 16,018 8,646 2,234 10,880Group\u2019s share in % 49% 35% - 49% 35% -Group\u2019s share in profit/(loss) for the period 2,764 3,337 6,101 3,028 48 3,076Share in the result of joint ventures and associates - 3,337 3,337 - 48 48Included in other operating income                                        3(d) 2,764 - 2,764 3,028 - 3,028The Group has no contingent liabilities or capital commit-ments in relation to its associates as at 31 December 2022, 2021 and 2020.For all equity accounted investments, the parent\u2019s or other investor\u2019s consent is required to distribute its profits; which is not decided at the reporting date. The equity accounted investments did not recognize items in other comprehensive income.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-79-5": {
   "value": "1.2 List of equity accounted companies on 31 December 2022Country of Incorporation Legal Entity Registered Office %AmericasUnited States CCO Barco Airport Venture LLC Corporation Trust Center, 1209 Orange Street, 19801 Wilmington (DE) UNITED STATES 35Asia-PacificChina CFG Barco (Beijing) Electronics Co., Ltd. No. 16 Changsheng Road, Zhong Guan Cun Science Park, Chang Ping District, 102200 Beijing CHINA 4911. Investments and interest in associatesIn thousands of euro 2022 2021 2020Investments (a) 37,645 47,135 87, 228Interest in associates (b) 27,167 20,872 19,713Investments and interest in associates 64,811 68,008 106,942Interest in associates represents entities in which Barco owns between 20% and 50% of the shares.(b) Interest in associatesInterest in associates, in 2022 - 2020, reflects the equity invest-ment in BarcoCFG and CCO Barco Airport Venture.The Group\u2019s share of the assets and liabilities as at 31 December 2022 and 2021 and income and expenses of the joint ventures and associates for the year ended 31 December 2022 and 2021, which are accounted for using the equity method: Summarized balance sheetBarco CFGCCOTotalBarco CFGCCOTotalIn thousands of euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Cash and cash equivalents 12,185 30,467 42,652 38,822 21,355 60,177Other current assets 58,842 11,785 70,627 45,535 9,303 54,838Total current assets 71,027 42,252 113,279 84,356 30,659 115,015Non-current assets 7,050 9,437 16,487 8,962 8,257 17,219Other current liabilities 50,070 13,279 63,349 70,225 11,610 81,835Total current liabilities 50,070 13,279 63,349 70,225 11,610 81,835Other non-current liabilities - - - - 1 1Total non-current liabilities - - - - 1 1Net assets 28,007 38,409 66,416 23,093 27,305 50,398Reconciliation to carrying amountsOpening net assets 1 January 23,093 27,305 50,398 22,324 25,070 47,394Profit/(loss) for the period 5,641 9,534 15,176 6,180 137 6,316Other comprehensive income (CTA) -728 1,570 842 2,466 2,098 4,564Dividends paid - - - -7,876 - -7,876Closing net assets 28,007 38,409 66,416 23,093 27,305 50,398Group\u2019s share in % 49% 35% - 49% 35% -Group\u2019s share 13,723 13,443 27,167 11,316 9,557 20,872Carrying amount 13,723 13,443 27,167 11,316 9,557 20,872Summarized statement of comprehensive incomeBarco CFGCCOTotalBarco CFGCCOTotalIn thousands of euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Profit/(loss) for the period 5,641 9,534 15,176 6,180 137 6,316Other comprehensive income (CTA) -728 1,570 842 2,466 2,098 4,564Total comprehensive income 4,913 11,105 16,018 8,646 2,234 10,880Group\u2019s share in % 49% 35% - 49% 35% -Group\u2019s share in profit/(loss) for the period 2,764 3,337 6,101 3,028 48 3,076Share in the result of joint ventures and associates - 3,337 3,337 - 48 48Included in other operating income                                        3(d) 2,764 - 2,764 3,028 - 3,028The Group has no contingent liabilities or capital commit-ments in relation to its associates as at 31 December 2022, 2021 and 2020.For all equity accounted investments, the parent\u2019s or other investor\u2019s consent is required to distribute its profits; which is not decided at the reporting date. The equity accounted investments did not recognize items in other comprehensive income.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-84-3": {
   "value": "1.3 Acquisitions and divestments2021 - 2020Barco did not close any acquisition or divestment agreements in 2021 and 2020. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-84-4": {
   "value": "1.3 Acquisitions and divestments2021 - 2020Barco did not close any acquisition or divestment agreements in 2021 and 2020. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-82-3": {
   "value": "In 2022 G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uted s<span class=\"_ _3\"></span>ix mo<span class=\"_ _3\"></span>nth<span class=\"_ _3\"></span>s of tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r (0.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) to the tota<span class=\"_ _3\"></span>l tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p, tho<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>h in it<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>up p<span class=\"_ _3\"></span>has<span class=\"_ _3\"></span>e not yet co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to EBIT<span class=\"_ _3\"></span>DA (-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n e<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>).If th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>d take<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ace at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>inn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g of th<span class=\"_ _3\"></span>e year, the tot<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over w<span class=\"_ _3\"></span>oul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro and t<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA los<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od wo<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of 0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro have be<span class=\"_ _3\"></span>en ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d are in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n adm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>istr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws in th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt of ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows<span class=\"_ _3\"></span>.The foll<span class=\"_ _0\"></span>owing table summari<span class=\"_ _0\"></span>zes t<span class=\"_ _0\"></span>he considerat<span class=\"_ _0\"></span>ion paid for<span class=\"_ _0\"></span> Gn<span class=\"_ _3\"></span>osco an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span> ass<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>d reco<span class=\"_ _3\"></span>gnized at t<span class=\"_ _3\"></span>he acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n pa<span class=\"_ _3\"></span>id, t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g net a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts is rela<span class=\"_ _3\"></span>ted to futu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s Barco ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s to realize bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e of se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces prov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ed by D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>micu<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e tele<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>atol<span class=\"_ _3\"></span><span class=\"ws4\">-</span>og<span class=\"_ _3\"></span>y pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm for d<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>gno<span class=\"_ _3\"></span>sis of sk<span class=\"_ _3\"></span>in ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, wo<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er skin lesions.2022Acquisition o<span class=\"_ _0\"></span>f Gnosco ABIn ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo team<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l fir<span class=\"_ _3\"></span>st co<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ine t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tise, g<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>ket cap<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s and i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>led b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>e pat<span class=\"_ _3\"></span>h to comm<span class=\"_ _3\"></span>ercia<span class=\"_ _3\"></span>l succes<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing a j<span class=\"_ _3\"></span>oint te<span class=\"_ _3\"></span>led<span class=\"_ _3\"></span>erm<span class=\"_ _3\"></span>atolo<span class=\"_ _3\"></span>gy a<span class=\"_ _3\"></span>nd telewo<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d ca<span class=\"_ _3\"></span>re road<span class=\"_ _3\"></span>map b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on h<span class=\"_ _3\"></span>igh q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, affo<span class=\"_ _3\"></span>rdab<span class=\"_ _3\"></span>le ski<span class=\"_ _3\"></span>n solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Barco acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d 70% of the sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive con<span class=\"_ _3\"></span>trol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Ju<span class=\"_ _3\"></span>ly 2022, t<span class=\"_ _3\"></span>he Gn<span class=\"_ _3\"></span>osco f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res are t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Grou<span class=\"_ _3\"></span>p from 1 J<span class=\"_ _3\"></span>uly, 2022 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is record<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset (acqu<span class=\"_ _3\"></span>ired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how) o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Conso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated B<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce Sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich wi<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized ove<span class=\"_ _3\"></span>r 5 year<span class=\"_ _3\"></span>s.A fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s was reco<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>d for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uros. S<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 15 for<span class=\"_ _0\"></span> more in<span class=\"_ _0\"></span>formation.1.3 Acquisitions and divestmentsAssets and Liabilities Gnosco ABIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1d8\"> </span>1 Ju<span class=\"_ _3\"></span>ly 2022Fair va<span class=\"_ _3\"></span>lue IFR<span class=\"_ _3\"></span>S <span class=\"_ _21\"></span> Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/Srestat<span class=\"_ _0\"></span>ementsOp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/SCapitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment<span class=\"_ _160\"> </span>354<span class=\"_ _1a4\"> </span><span class=\"lsf5 ws112\">-35<span class=\"_ _3\"></span>4<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-</span></span>Know<span class=\"_ _3\"></span>-h<span class=\"_ _3\"></span>ow<span class=\"_ _1d9\"> </span>0<span class=\"_ _60\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _71\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>7</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1da\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls191 ws255\">73<span class=\"_ _de\"> </span>73</span>T<span class=\"_ _0\"></span>otal non-current asset<span class=\"_ _3\"></span>s<span class=\"_ _1db\"> </span>354<span class=\"_ _6e\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>6<span class=\"_ _70\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"> </span>0</span>T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _15d\"> </span><span class=\"ls3c ws48\">29<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>29</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _1dd\"> </span><span class=\"ls19b ws270\">12<span class=\"_ _1dc\"> </span></span>-<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">12</span>T<span class=\"_ _0\"></span>otal current assets<span class=\"_ _156\"> </span><span class=\"ls109 ws126\">40<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>40</span>LT<span class=\"_ _3\"></span> l<span class=\"_ _3\"></span>o<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>n<span class=\"_ _1de\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _3\"></span>2<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-1<span class=\"_ _3\"></span>72</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y<span class=\"_ _1df\"> </span>-<span class=\"_ _54\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>7<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>67</span>T<span class=\"_ _0\"></span>otal non-current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1b6\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9</span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _85\"> </span><span class=\"ls106 ws123\">-170<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-170</span>T<span class=\"_ _0\"></span>otal current liabiliti<span class=\"_ _3\"></span>es<span class=\"_ _1e0\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1a4\"> </span></span>-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0</span>Cash<span class=\"_ _1e1\"> </span><span class=\"ls10b ws128\">237<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span></span>237</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>et a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts<span class=\"_ _1e2\"> </span>289<span class=\"_ _70\"> </span><span class=\"ls138 ws167\">5,759<span class=\"_ _94\"> </span><span class=\"ls131 ws161\">6<span class=\"_ _3\"></span>,048</span></span>Upfron<span class=\"_ _0\"></span>t conside<span class=\"_ _0\"></span>ration<span class=\"_ _1e3\"> </span><span class=\"ls191 ws255\">4,000</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on c<span class=\"_ _3\"></span>ost (e<span class=\"_ _3\"></span>xcl<span class=\"_ _3\"></span>. ne<span class=\"_ _3\"></span>t ca<span class=\"_ _3\"></span>sh)<span class=\"_ _1e4\"> </span><span class=\"ls10a ws127\">4,000</span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ated to p<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"lsfb ws118\">2,04<span class=\"_ _3\"></span>8</span>Ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low on a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _1e5\"> </span><span class=\"ff1 fc0\">1 Ju<span class=\"_ _3\"></span>ly 2022</span>Net c<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h acq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>red w<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e sub<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1e6\"> </span><span class=\"ls3c ws48\">237</span>Cash paid<span class=\"_ _1e7\"> </span><span class=\"ls10a ws127\">-4,000</span>Net cash<span class=\"_ _0\"></span> flow on acquisit<span class=\"_ _0\"></span>ion<span class=\"_ _1e8\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accou<span class=\"_ _3\"></span>nted for u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion method c<span class=\"_ _0\"></span>onform<span class=\"_ _0\"></span> IFRS3<span class=\"_ _0\"></span> Business C<span class=\"_ _0\"></span>ombinations.We refer to note 23 'C<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt: ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s' for imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup.2021 - 20<span class=\"_ _0\"></span>20Barc<span class=\"_ _0\"></span>o did not<span class=\"_ _0\"></span> close an<span class=\"_ _0\"></span>y acquisi<span class=\"_ _0\"></span>tion or divestment<span class=\"_ _0\"></span> agreements in 2021 a<span class=\"_ _3\"></span>nd 2020. 23. Cash flow statement: effect of acquisitions and disposalsTh<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ta<span class=\"_ _3\"></span>ble s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>is<span class=\"ls4 ws4\">-</span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t move<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _dc\"> </span><span class=\"ls16 ws1f\">Aquisitions 2022</span>Net<span class=\"_ _0\"></span>-identifiable<span class=\"_ _0\"></span> assets and liabilities<span class=\"_ _95\"> </span><span class=\"ls10b ws128\">-1,796</span>Know-<span class=\"_ _0\"></span>how on acquisit<span class=\"_ _0\"></span>ions<span class=\"_ _9a\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7</span>Put opt<span class=\"_ _0\"></span>ion non-controlling<span class=\"_ _0\"></span> interest<span class=\"_ _103\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>9</span>Acquired/<span class=\"_ _0\"></span>(sold) cash<span class=\"_ _113\"> </span><span class=\"ls3c ws48\">237</span>Purchase price<span class=\"_ _1ab\"> </span><span class=\"ls10a ws127\">4,000</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in 2022 rel<span class=\"_ _3\"></span>ates to a joi<span class=\"_ _3\"></span>nt vent<span class=\"_ _3\"></span>ure ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent with t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dis<span class=\"_ _3\"></span>h comp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co AB. We refer to no<span class=\"_ _3\"></span>te 1.<span class=\"_ _3\"></span>3 on acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s and d<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd to th<span class=\"_ _3\"></span>e Cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w sta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 2020.Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on of a forei<span class=\"_ _3\"></span>gn e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>re car<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d in ter<span class=\"_ _3\"></span>ms of h<span class=\"_ _3\"></span>istor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cost u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate at th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-88-2": {
   "value": "2. Operating Segments information2.1. Basis of operating segments information\u2022 <span class=\"_ _5e\"> </span>Healt<span class=\"_ _3\"></span>hca<span class=\"_ _3\"></span>re: Th<span class=\"_ _3\"></span>e Hea<span class=\"_ _3\"></span>lthc<span class=\"_ _3\"></span>are d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n com<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ses t<span class=\"_ _3\"></span>wo bu<span class=\"_ _3\"></span>si<span class=\"ls4 ws4\">-</span>nes<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>ts:  <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Diagnostic imaging<span class=\"_ _0\"></span> of<span class=\"_ _3\"></span>fers<span class=\"_ _0\"></span> an extensiv<span class=\"_ _0\"></span>e line-<span class=\"_ _3\"></span>up of<span class=\"_ _0\"></span> high<span class=\"_ _3\"></span>-pre<span class=\"ls4 ws4\">-</span>cisio<span class=\"_ _3\"></span>n me<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>lay s<span class=\"_ _3\"></span>ys<span class=\"_ _3\"></span>tems for di<span class=\"_ _3\"></span>scip<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>es in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g radiology<span class=\"_ _0\"></span>, mammography<span class=\"_ _0\"></span>, denti<span class=\"_ _0\"></span>str<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, pathology and c<span class=\"_ _0\"></span>linical revi<span class=\"_ _3\"></span>ew ima<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, plu<span class=\"_ _3\"></span>s a ful<span class=\"_ _3\"></span>l suite of s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span>Surg<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d Mo<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y b<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ngs to<span class=\"_ _3\"></span>get<span class=\"_ _3\"></span>her t<span class=\"_ _1\"></span>wo act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wit<span class=\"_ _3\"></span>h great s<span class=\"_ _3\"></span>yn<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>y ta<span class=\"_ _3\"></span>rget th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>ame e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs (of<span class=\"_ _3\"></span>ten o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng roo<span class=\"_ _3\"></span>ms) an<span class=\"_ _3\"></span>d req<span class=\"_ _3\"></span>uire th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me go<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>rket st<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>gy. The o<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng of t<span class=\"_ _3\"></span>his b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>it includes<span class=\"_ _0\"></span> the comp<span class=\"_ _0\"></span>any\u2019s dig<span class=\"_ _0\"></span>ital operating<span class=\"_ _0\"></span> room portfolio (ha<span class=\"_ _3\"></span>rdwa<span class=\"_ _3\"></span>re + vid<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-I<span class=\"_ _3\"></span>P-<span class=\"_ _3\"></span>techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy), cus<span class=\"_ _3\"></span>tom m<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l disp<span class=\"_ _3\"></span>lay<span class=\"_ _3\"></span>s for mo<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g and a f<span class=\"_ _3\"></span>ull s<span class=\"_ _3\"></span>uite of su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t services.\u2022 <span class=\"_ _5e\"> </span>Ent<span class=\"_ _0\"></span>erprise: The E<span class=\"_ _0\"></span>nterprise<span class=\"_ _0\"></span> division comprises two business<span class=\"_ _0\"></span> un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s: <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Meeting Experienc<span class=\"_ _0\"></span>e offers c<span class=\"_ _0\"></span>ollaboration and visual<span class=\"_ _0\"></span>ization techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es for a s<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>t w<span class=\"_ _3\"></span>ork<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ace or le<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g env<span class=\"_ _3\"></span>iron<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ment:<span class=\"_ _0\"></span> ClickShare<span class=\"_ _0\"></span> wireless c<span class=\"_ _0\"></span>onfer<span class=\"_ _0\"></span>ence and pr<span class=\"_ _0\"></span>esentation<span class=\"_ _0\"></span> sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s, we<span class=\"_ _3\"></span>Con<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ct V<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>al Cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>room a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span>La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s of<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rs a pa<span class=\"_ _3\"></span>cka<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to he<span class=\"_ _3\"></span>lp con<span class=\"_ _0\"></span>trol r<span class=\"_ _0\"></span>oom operat<span class=\"_ _0\"></span>ors make<span class=\"_ _0\"></span> well-informed dec<span class=\"_ _0\"></span>isions<span class=\"_ _0\"></span>: video walls,<span class=\"_ _0\"></span> video wall c<span class=\"_ _0\"></span>ontrol<span class=\"_ _0\"></span>lers, con<span class=\"_ _0\"></span>trol r<span class=\"_ _0\"></span>oom software an<span class=\"_ _3\"></span>d a ful<span class=\"_ _3\"></span>l suite of s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>.Barc<span class=\"_ _0\"></span>o is<span class=\"_ _0\"></span> a global t<span class=\"_ _0\"></span>echnology c<span class=\"_ _0\"></span>ompany de<span class=\"_ _0\"></span>veloping sol<span class=\"_ _0\"></span>utions for th<span class=\"_ _3\"></span>ree ma<span class=\"_ _3\"></span>in ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is al<span class=\"_ _3\"></span>so ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in it<span class=\"_ _3\"></span>s di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al structure<span class=\"_ _0\"></span>: Healthcar<span class=\"_ _0\"></span>e, En<span class=\"_ _0\"></span>terprise<span class=\"_ _0\"></span> and Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment.\u2022 <span class=\"_ _5e\"> </span><span class=\"ff5 lsa ws60\">En<span class=\"_ _0\"></span>tertainment: The E<span class=\"_ _0\"></span>ntertainment division c<span class=\"_ _0\"></span>omprises two </span>business units: <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Cin<span class=\"_ _3\"></span>ema o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fers t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y\u2019s m<span class=\"_ _3\"></span>ost co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lete ran<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f las<span class=\"_ _3\"></span>er an<span class=\"_ _3\"></span>d lam<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma pro<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>o sol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco\u2019s cinema o<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g is mar<span class=\"_ _3\"></span>keted v<span class=\"_ _3\"></span>ia Ba<span class=\"_ _3\"></span>rco CFG (f<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r Chin<span class=\"_ _3\"></span>a) an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic (for res<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld), wh<span class=\"_ _3\"></span>ich com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>y with<span class=\"_ _0\"></span> cons<span class=\"_ _0\"></span>ultancy<span class=\"_ _0\"></span>, insta<span class=\"_ _0\"></span>llation,<span class=\"_ _0\"></span> financing,<span class=\"_ _0\"></span> monitor<span class=\"_ _0\"></span>ing and maint<span class=\"_ _0\"></span>enance services. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-<span class=\"_ _13b\"> </span><span class=\"ff4 ls20 ws67\"> <span class=\"_ _21\"></span>The Immersiv<span class=\"_ _0\"></span>e Experience business<span class=\"_ _0\"></span> unit offers sol<span class=\"_ _0\"></span>utions </span></span>ta<span class=\"_ _3\"></span>ilo<span class=\"_ _3\"></span>red to th<span class=\"_ _3\"></span>e spe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s of la<span class=\"_ _3\"></span>rge ve<span class=\"_ _3\"></span>nue<span class=\"_ _3\"></span>s, l<span class=\"_ _3\"></span>ive eve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, the<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent (m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>rks<span class=\"_ _3\"></span>, di<span class=\"_ _3\"></span>git<span class=\"_ _3\"></span>al immersive<span class=\"_ _0\"></span> ar<span class=\"_ _3\"></span>t installati<span class=\"_ _0\"></span>ons, projection mapping,<span class=\"_ _0\"></span> etc.<span class=\"_ _0\"></span>) and simulation applications: pr<span class=\"_ _0\"></span>oj<span class=\"_ _3\"></span>ection, image processing and relat<span class=\"_ _0\"></span>ed services.No o<span class=\"_ _3\"></span>per<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ag<span class=\"_ _3\"></span>greg<span class=\"_ _3\"></span>ated to form t<span class=\"_ _3\"></span>he above<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>table operating<span class=\"_ _0\"></span> segments.Th<span class=\"_ _3\"></span>e Bo<span class=\"_ _3\"></span>ard of di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tors m<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>tor th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lts of e<span class=\"_ _3\"></span>ach of t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons s<span class=\"_ _3\"></span>epa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, so a<span class=\"_ _3\"></span>s to make d<span class=\"_ _3\"></span>ecisi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut res<span class=\"_ _3\"></span>ource allocation<span class=\"_ _0\"></span> and per<span class=\"_ _3\"></span>formanc<span class=\"_ _0\"></span>e assessment and<span class=\"_ _0\"></span> consequentl<span class=\"_ _0\"></span>y,<span class=\"_ _0\"></span> the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns q<span class=\"_ _3\"></span>ual<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng seg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s do no<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>w simi<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic cha<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>cter<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s and do n<span class=\"_ _3\"></span>ot exh<span class=\"_ _3\"></span>ibit s<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>lar l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>ce, th<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>fore ca<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ot be a<span class=\"_ _3\"></span>gg<span class=\"_ _3\"></span>regate<span class=\"_ _3\"></span>d into rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. D<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ance is e<span class=\"_ _3\"></span>valu<span class=\"_ _3\"></span>ated ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>. G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing (inc<span class=\"_ _0\"></span>luding fi<span class=\"_ _0\"></span>nance c<span class=\"_ _0\"></span>osts and<span class=\"_ _0\"></span> finance<span class=\"_ _0\"></span> rev<span class=\"_ _0\"></span>enue)<span class=\"_ _0\"></span> and inc<span class=\"_ _0\"></span>ome ta<span class=\"_ _3\"></span>xes are m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d on a g<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>asis a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re not al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ated to the operating<span class=\"_ _0\"></span> divisions.Th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on in t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>re and t<span class=\"_ _3\"></span>he core lea<span class=\"_ _3\"></span>der<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p team in 202<span class=\"_ _3\"></span>1 ha<span class=\"_ _3\"></span>d no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the i<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ntif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s.T<span class=\"_ _2\"></span>ransfer pric<span class=\"_ _0\"></span>es between operating segments<span class=\"_ _0\"></span> are on an<span class=\"_ _0\"></span> arm\u2019s length<span class=\"_ _0\"></span> basis in<span class=\"_ _0\"></span> a manner similar<span class=\"_ _0\"></span> to transactions<span class=\"_ _0\"></span> with thir<span class=\"_ _0\"></span>d parties<span class=\"_ _3\"></span>.We refer to \u2018<span class=\"fc2 lsa ws4b\">Our mark<span class=\"_ _0\"></span>ets<span class=\"fc0 lsd wse\">\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s </span></span>performed b<span class=\"_ _0\"></span>y each<span class=\"_ _0\"></span> division.2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>entTh<span class=\"_ _3\"></span>e tot<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e rev<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ate to p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd to re<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce reve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>s ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ted o<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>inte<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>AssetsSegment<span class=\"_ _0\"></span> assets  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _213\"> </span><span class=\"lsdc wsf9\">193<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>103<span class=\"_ _3b\"> </span>141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _49\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _214\"> </span>19<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>2<span class=\"_ _215\"> </span><span class=\"ls138 ws167\">202,<span class=\"_ _3\"></span>365<span class=\"_ _1ef\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _216\"> </span><span class=\"lsde wsfb\">288<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>556<span class=\"_ _8f\"> </span><span class=\"ls109 ws126\">226,584<span class=\"_ _8f\"> </span></span>285<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>70</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _ac\"> </span>6<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>2<span class=\"_ _ae\"> </span><span class=\"ls1af ws281\">570<span class=\"_ _3\"></span>,076<span class=\"_ _8f\"> </span><span class=\"lsfb ws118\">550,336</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _217\"> </span>55,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>39<span class=\"_ _14f\"> </span><span class=\"ls133 ws162\">64,1<span class=\"_ _3\"></span>55<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">62,81<span class=\"_ _3\"></span>1</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s<span class=\"_ _1b8\"> </span>1,651<span class=\"_ _38\"> </span><span class=\"lsed ws10a\">2,763<span class=\"_ _90\"> </span></span> 3,17<span class=\"_ _3\"></span>5 Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _20d\"> </span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _49\"> </span><span class=\"ls42 ws6f\">35<span class=\"_ _0\"></span>1<span class=\"_ _3\"></span>,571<span class=\"_ _8f\"> </span><span class=\"ls138 ws167\">235<span class=\"_ _3\"></span>,402</span></span>Other non-alloca<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>ets<span class=\"_ _ed\"> </span>107<span class=\"_ _2\"></span>,0<span class=\"_ _3\"></span>28<span class=\"_ _218\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>5,68<span class=\"_ _3\"></span>4<span class=\"_ _88\"> </span><span class=\"lse7 ws104\">16<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,479</span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _219\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _cc\"> </span><span class=\"ls19a ws26f\">1,10<span class=\"_ _0\"></span>4,2<span class=\"_ _0\"></span>49<span class=\"_ _cc\"> </span><span class=\"lsfe ws11b\">1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>LiabilitiesSegment liabilities  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>7<span class=\"_ _150\"> </span><span class=\"ls36 ws40\">59,88<span class=\"_ _0\"></span>2<span class=\"_ _144\"> </span><span class=\"lse3 ws100\">49,39<span class=\"_ _3\"></span>8</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _21a\"> </span>75<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _14f\"> </span><span class=\"lsfb ws118\">81,053<span class=\"_ _144\"> </span><span class=\"ls42 ws6f\">53,<span class=\"_ _3\"></span>299</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _21b\"> </span><span class=\"lsdc wsf9\">140<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>82<span class=\"_ _3\"></span>5<span class=\"_ _218\"> </span>14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>02<span class=\"_ _1ef\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _4\"></span>4<span class=\"_ _1\"></span>8</span></span>T<span class=\"_ _0\"></span>otal segment liabilities290,6<span class=\"_ _3\"></span>87<span class=\"_ _8f\"> </span><span class=\"lsea ws107\">285,6<span class=\"_ _3\"></span>37<span class=\"_ _1fc\"> </span><span class=\"lsfe ws11b\">220,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>4</span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _21c\"> </span>759,<span class=\"_ _3\"></span>189<span class=\"_ _88\"> </span><span class=\"lsdc wsf9\">693<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>83<span class=\"_ _8f\"> </span><span class=\"lsed ws10a\">659<span class=\"_ _0\"></span>,309</span></span>No<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>trol<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ntere<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _1bb\"> </span>19,7<span class=\"_ _3\"></span>92<span class=\"_ _1ed\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>031<span class=\"_ _44\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8</span></span>Long-term<span class=\"_ _0\"></span> debts<span class=\"_ _21b\"> </span>32,33<span class=\"_ _3\"></span>5<span class=\"_ _3b\"> </span><span class=\"lse9 ws106\">34,<span class=\"_ _3\"></span>366<span class=\"_ _144\"> </span><span class=\"ls36 ws40\">35,854</span></span>Deferred<span class=\"_ _0\"></span> tax liabilities<span class=\"_ _21d\"> </span>3,229<span class=\"_ _cb\"> </span><span class=\"lsfe ws11b\">3,<span class=\"_ _3\"></span>823<span class=\"_ _38\"> </span><span class=\"lsef ws10c\">4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm d<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>ts<span class=\"_ _21e\"> </span>11,21<span class=\"_ _0\"></span>7<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>218<span class=\"_ _21f\"> </span><span class=\"lse3 ws100\">9,18<span class=\"_ _3\"></span>7</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s<span class=\"_ _220\"> </span>-<span class=\"_ _20f\"> </span>-<span class=\"_ _e2\"> </span><span class=\"ls109 ws126\">86</span>Other non-allocat<span class=\"_ _0\"></span>ed liabilities<span class=\"_ _121\"> </span>3<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>7<span class=\"_ _144\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>390<span class=\"_ _47\"> </span><span class=\"ls36 ws40\">50,880</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _eb\"> </span>1<span class=\"_ _3\"></span>,14<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>,405<span class=\"_ _cc\"> </span><span class=\"ls19a ws26f\">1,10<span class=\"_ _0\"></span>4,2<span class=\"_ _0\"></span>49<span class=\"_ _cc\"> </span><span class=\"lsfe ws11b\">1,<span class=\"_ _3\"></span>018,<span class=\"_ _3\"></span>203</span></span>2.6. Geographic in<span class=\"_ _0\"></span>formationMan<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>itors s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e reg<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to whi<span class=\"_ _3\"></span>ch the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds a<span class=\"_ _3\"></span>re ship<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ed or t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices a<span class=\"_ _3\"></span>re rend<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>d in three<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphical r<span class=\"_ _0\"></span>egions Eur<span class=\"_ _0\"></span>ope, Americas (North-A<span class=\"_ _3\"></span>merica an<span class=\"_ _3\"></span>d L<span class=\"_ _3\"></span>A<span class=\"_ _0\"></span>TAM) and A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Pa<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c (A<span class=\"_ _3\"></span>PAC)<span class=\"_ _0\"></span>. We refer to the \u2018<span class=\"fc2\">Co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>roup res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s</span>\u2019 for a sp<span class=\"_ _3\"></span>lit of reven<span class=\"_ _3\"></span>ue fro<span class=\"_ _3\"></span>m ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ogr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>al loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs to wh<span class=\"_ _3\"></span>om t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nvoice is i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ere is n<span class=\"_ _3\"></span>o sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant (i<span class=\"_ _3\"></span>.e. rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 10% of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s reven<span class=\"_ _3\"></span>ue) con<span class=\"_ _3\"></span>centr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of B<span class=\"_ _3\"></span>arco\u2019s revenu<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>th on<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>mer. Sa<span class=\"_ _3\"></span>les to B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium re<span class=\"_ _3\"></span>pres<span class=\"_ _3\"></span>ent 42 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up rev<span class=\"_ _3\"></span><span class=\"ws4\">-</span>en<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2022 ver<span class=\"_ _3\"></span>sus 2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 23 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on in 2020. Be<span class=\"_ _3\"></span>low ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>s an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r reg<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd the m<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s per region.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _221\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _222\"> </span>2021<span class=\"_ _223\"> </span>2020</span>Net salesEuro<span class=\"_ _3\"></span>pe405,19<span class=\"_ _3\"></span>0<span class=\"_ _8b\"> </span>38.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span>305,199<span class=\"_ _b9\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>%<span class=\"_ _d4\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>280<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.4%</span></span>Americas435<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>793<span class=\"_ _b9\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _c4\"> </span>3<span class=\"_ _3\"></span>00,<span class=\"_ _3\"></span>826<span class=\"_ _f\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"lsda wsf7\">296,942<span class=\"_ _86\"> </span><span class=\"lse7 ws104\">38<span class=\"_ _3\"></span>.6%</span></span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c217<span class=\"_ _0\"></span>,308<span class=\"_ _8b\"> </span>20<span class=\"_ _3\"></span>.5%<span class=\"_ _53\"> </span>19<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>262<span class=\"_ _b9\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls109 ws126\">192,862<span class=\"_ _86\"> </span><span class=\"lsf5 ws112\">25<span class=\"_ _3\"></span>.0%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l1,058,291<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _37\"> </span><span class=\"lsda wsf7\">804,288<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d4\"> </span><span class=\"ls131 ws161\">770,083<span class=\"_ _f\"> </span></span>10<span class=\"_ _3\"></span>0%</span>T<span class=\"_ _0\"></span>otal assetsEuro<span class=\"_ _3\"></span>pe<span class=\"_ _19e\"> </span>515,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _8b\"> </span>44<span class=\"_ _3\"></span>.9%<span class=\"_ _86\"> </span><span class=\"ls42 ws6f\">557<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">50.<span class=\"_ _3\"></span>5%</span></span>45<span class=\"_ _3\"></span>5,93<span class=\"_ _3\"></span>0<span class=\"_ _86\"> </span><span class=\"ls89 wsa4\">4<span class=\"_ _3\"></span>4.8%</span>Americas<span class=\"_ _224\"> </span><span class=\"lsf0 ws10d\">266<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>78<span class=\"_ _10f\"> </span><span class=\"lsee ws10b\">23.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span></span>180,<span class=\"_ _3\"></span>303<span class=\"_ _b9\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>222,214<span class=\"_ _10f\"> </span><span class=\"ls139 ws168\">21.8%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _2d\"> </span>365,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>7<span class=\"_ _b9\"> </span>31<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">366,3<span class=\"_ _3\"></span>75<span class=\"_ _8b\"> </span><span class=\"lse9 ws106\">33.<span class=\"_ _3\"></span>2%</span></span>3<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>,059<span class=\"_ _10f\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _225\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _b9\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"ls19a ws26f\">1,1<span class=\"_ _0\"></span>04,2<span class=\"_ _0\"></span>49<span class=\"_ _b8\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%</span></span>1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100%</span>Pur<span class=\"_ _3\"></span>cha<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s of ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s (excl<span class=\"_ _3\"></span>. IFR<span class=\"_ _3\"></span>S 16)*Euro<span class=\"_ _3\"></span>pe <span class=\"_ _197\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _f\"> </span>4<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _36\"> </span><span class=\"lsfb ws118\">8,186<span class=\"_ _10f\"> </span><span class=\"lse7 ws104\">43.<span class=\"_ _3\"></span>6%</span></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _8b\"> </span><span class=\"ls139 ws168\">48.8%</span>Americas<span class=\"_ _226\"> </span>3,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3<span class=\"_ _147\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>%<span class=\"_ _1a8\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>223<span class=\"_ _50\"> </span><span class=\"ls106 ws123\">6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _4a\"> </span><span class=\"lse7 ws104\">9.6%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _192\"> </span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _10f\"> </span>35<span class=\"_ _3\"></span>.0%<span class=\"_ _3d\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>9<span class=\"_ _8b\"> </span><span class=\"lse7 ws104\">49.9<span class=\"_ _3\"></span>%</span></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _196\"> </span>21,<span class=\"_ _3\"></span>218<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100<span class=\"_ _3\"></span>%<span class=\"_ _f\"> </span><span class=\"ls89 wsa4\">18<span class=\"_ _3\"></span>,787<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%</span>14,9<span class=\"_ _3\"></span>80<span class=\"_ _89\"> </span><span class=\"lse6 ws103\">100%</span>Goodwill by cash-generating unit On a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on, g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red in a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is all<span class=\"_ _3\"></span>oca<span class=\"_ _3\"></span>ted to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g uni<span class=\"_ _3\"></span>t whi<span class=\"_ _3\"></span>ch is exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to be<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>efit<span class=\"_ _0\"></span> from tha<span class=\"_ _0\"></span>t business c<span class=\"_ _0\"></span>ombination.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>hese cas<span class=\"_ _0\"></span>h<span class=\"_ _3\"></span>-gen<span class=\"_ _3\"></span>erating<span class=\"_ _0\"></span> uni<span class=\"_ _3\"></span>ts cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d to th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n leve<span class=\"_ _3\"></span>l for He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _0\"></span>tertainment. Theref<span class=\"_ _0\"></span>ore, impairmen<span class=\"_ _0\"></span>t testing i<span class=\"_ _0\"></span>s per<span class=\"_ _3\"></span>formed at th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>low.  Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l (af<span class=\"_ _3\"></span>ter im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>) has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as foll<span class=\"_ _3\"></span>ows:Cash-genera<span class=\"_ _0\"></span>ting units<span class=\"_ _0\"></span> in thousands o<span class=\"_ _0\"></span>f euro<span class=\"_ _ed\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22-<span class=\"_ _0\"></span>2020</span>Healthcar<span class=\"_ _0\"></span>e <span class=\"_ _1de\"> </span><span class=\"lsde wsfb\"> 28,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>3 </span>Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _24c\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5 </span>Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _24d\"> </span><span class=\"ls4 ws4\"> 35,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>64 </span>T<span class=\"_ _0\"></span>otal goodwi<span class=\"_ _0\"></span>ll (net<span class=\"_ _0\"></span> book value)<span class=\"_ _1b6\"> </span><span class=\"lsf5 ws112\"> 105,612 </span>Th<span class=\"_ _3\"></span>e al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on rem<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e over 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d it<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>n the fo<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th quarter of<span class=\"_ _0\"></span> 2022<span class=\"_ _0\"></span> consist<span class=\"_ _0\"></span>ently wi<span class=\"_ _0\"></span>th prior years.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>s at th<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nsh<span class=\"_ _3\"></span>ip b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en it<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rket c<span class=\"_ _3\"></span>ap-ita<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d its b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue, a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>st ot<span class=\"_ _3\"></span>her f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>en revie<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ators of i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. At 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, the m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up was a<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>ost t<span class=\"_ _3\"></span>hree t<span class=\"_ _3\"></span>ime<span class=\"_ _3\"></span>s the a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup. A<span class=\"_ _3\"></span>s s<span class=\"_ _3\"></span>uch, t<span class=\"_ _3\"></span>his g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al tes<span class=\"_ _3\"></span>t do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot sho<span class=\"_ _3\"></span>w an in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>cati<span class=\"_ _3\"></span>on for i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d for ea<span class=\"_ _3\"></span>ch<span class=\"_ _0\"></span> cas<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e recove<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>le a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt for e<span class=\"_ _3\"></span>ach of the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on a val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>culat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n usin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rated<span class=\"_ _3\"></span> by ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent cove<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-ye<span class=\"_ _3\"></span>ar p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the l<span class=\"_ _3\"></span>evel of un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y of f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re years<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s have be<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>djus<span class=\"_ _3\"></span>ted to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e pur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e of our impairment testing.Th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed to p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows i<span class=\"_ _3\"></span>s 10.1<span class=\"_ _3\"></span>% (2021 a<span class=\"_ _3\"></span>nd 2020: 8.<span class=\"_ _3\"></span>7%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws b<span class=\"_ _3\"></span>eyon<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e five<span class=\"_ _1\"></span>-year p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d are ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ated usi<span class=\"_ _3\"></span>ng a co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h rate of 0% (202<span class=\"_ _3\"></span>1: 0%<span class=\"_ _3\"></span>, 2020: 0%<span class=\"_ _3\"></span>).Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt by wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e uni<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u2019s recovera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt e<span class=\"_ _3\"></span>xceeds it<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is 1<span class=\"_ _3\"></span>51 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (142 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>) in He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, 13<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n Enterp<span class=\"_ _3\"></span>rise (97 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) a<span class=\"_ _3\"></span>nd 106 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent (42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021).Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease ve<span class=\"_ _3\"></span>rsus 202<span class=\"_ _3\"></span>1 is th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of recoveri<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>evel of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA % (avera<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t 3 year<span class=\"_ _3\"></span>s) is consis<span class=\"_ _3\"></span>tent w<span class=\"_ _3\"></span>ith p<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>r yea<span class=\"_ _3\"></span>rs an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude 2 cov<span class=\"_ _3\"></span>id im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted yea<span class=\"_ _3\"></span>rs (2020 a<span class=\"_ _3\"></span>nd 2021<span class=\"_ _3\"></span>). Des<span class=\"_ _3\"></span>pite the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>h level o<span class=\"_ _3\"></span>f conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d, al<span class=\"_ _3\"></span>l thre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave substantial headroom.A sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lysi<span class=\"_ _3\"></span>s is pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (se<span class=\"_ _3\"></span>e Se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns \u2013 Dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate). F<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard lo<span class=\"_ _3\"></span>oki<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _3\"></span>, we refer to t<span class=\"_ _3\"></span>he com<span class=\"_ _3\"></span>pany re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>is annual r<span class=\"_ _0\"></span>epo<span class=\"_ _3\"></span>rt.Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t are cons<span class=\"_ _3\"></span>isten<span class=\"_ _3\"></span>t with e<span class=\"_ _0\"></span>x<span class=\"_ _3\"></span>ternal<span class=\"_ _0\"></span> sourc<span class=\"_ _0\"></span>es<span class=\"_ _3\"></span>.For none<span class=\"_ _0\"></span> of the cash-generating units management<span class=\"_ _0\"></span> identified an impairment<span class=\"_ _0\"></span> loss after<span class=\"_ _0\"></span> the impairment t<span class=\"_ _0\"></span>est.Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t were im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ost by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s, En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd H<span class=\"_ _3\"></span>ealt<span class=\"_ _3\"></span>hc<span class=\"_ _3\"></span>are sh<span class=\"_ _3\"></span>ow the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>t increa<span class=\"_ _3\"></span>se in r<span class=\"_ _3\"></span>aw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. For Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds increa<span class=\"_ _3\"></span>sed m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nly d<span class=\"_ _3\"></span>ue to recover<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>rice in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>), but a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ly du<span class=\"_ _3\"></span>e to lag<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>rom Chi<span class=\"_ _3\"></span>na cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f covid lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>.Incre<span class=\"_ _3\"></span>ase in i<span class=\"_ _3\"></span>nventor<span class=\"_ _1\"></span>y in Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se is li<span class=\"_ _3\"></span>nked to hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s, turns r<span class=\"_ _0\"></span>emained stable.In 2021<span class=\"_ _3\"></span>, ra<span class=\"_ _3\"></span>w mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s inv<span class=\"_ _3\"></span>entor<span class=\"_ _1\"></span>y increa<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>hre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as a resu<span class=\"_ _3\"></span>lt of acce<span class=\"_ _3\"></span>ler<span class=\"_ _3\"></span>ated p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>iew of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd En<span class=\"_ _3\"></span>terpr<span class=\"_ _3\"></span>ise t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n raw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y was of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by a h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed goods inv<span class=\"_ _0\"></span>entory<span class=\"_ _0\"></span>, thanks t<span class=\"_ _0\"></span>o higher fourth quart<span class=\"_ _0\"></span>er sales than i<span class=\"_ _0\"></span>n 2020. In He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>as in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s, n<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>t to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nt sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>age<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>d raw m<span class=\"_ _3\"></span>ater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s upf<span class=\"_ _3\"></span>ront un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e form of a l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t-ti<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>uy ord<span class=\"_ _3\"></span>er fo<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nts fo<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>r deci<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to stop th<span class=\"_ _3\"></span>e pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-90-4": {
   "value": "Barco is a global technology company developing solutions for three main markets, which is also reflected in its divisional structure: Healthcare, Enterprise and Entertainment.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-3": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>entSa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.to defen<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ex<span class=\"_ _3\"></span>tend t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>t posi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r leve<span class=\"_ _3\"></span>l of in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2020 a<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>1 (-17% b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low pre covid le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>) as a resu<span class=\"_ _3\"></span>lt of me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n to ali<span class=\"_ _3\"></span>gn th<span class=\"_ _3\"></span>e ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rat<span class=\"_ _0\"></span>e with mark<span class=\"_ _0\"></span>et re<span class=\"_ _0\"></span>alities and c<span class=\"_ _0\"></span>ustomer demand, c<span class=\"_ _0\"></span>ould not<span class=\"_ _0\"></span> comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sate for t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>rgin l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng fro<span class=\"_ _3\"></span>m th<span class=\"_ _3\"></span>e lower topl<span class=\"_ _3\"></span>ine co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ared to pre cov<span class=\"_ _3\"></span>id leve<span class=\"_ _3\"></span>l, re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n an a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in of 2.4 % in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.3% i<span class=\"_ _3\"></span>n 2020.In 2022, EB<span class=\"_ _3\"></span>IT i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>s rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f a num<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res acros<span class=\"_ _3\"></span>s dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent cou<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd fu<span class=\"_ _3\"></span>nct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns in th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y keep<span class=\"_ _3\"></span>s la<span class=\"_ _3\"></span>ggi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>ntend<span class=\"_ _3\"></span>s to cond<span class=\"_ _3\"></span>uct a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c revi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>is bu<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it in 2023<span class=\"_ _3\"></span>, focus<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>.EBIT i<span class=\"_ _3\"></span>n 2021 in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d 6.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>cross di<span class=\"_ _3\"></span>f<span class=\"ls4 ws4\">-</span>ferent co<span class=\"_ _3\"></span>untr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. In 2020 res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of th<span class=\"_ _3\"></span>e T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se Uni<span class=\"_ _3\"></span>see L<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>uid Cr<span class=\"_ _1\"></span>yst<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule (LCM) prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y and to reorga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span> ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dem<span class=\"_ _3\"></span>ic (14.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro). For m<span class=\"_ _3\"></span>ore de<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng item<span class=\"_ _3\"></span>s we refer to no<span class=\"_ _3\"></span>te 5<span class=\"_ _0\"></span> 'Restructuring and i<span class=\"_ _0\"></span>mpairment'.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 30.<span class=\"_ _3\"></span>3 % of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021: 33%<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>olute n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rs is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by hi<span class=\"_ _3\"></span>gh i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, resumed<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y le<span class=\"_ _0\"></span>vels and investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s post<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>covid.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.In 2021<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were kep<span class=\"_ _3\"></span>t st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ver<span class=\"_ _3\"></span>sus 2020, a res<span class=\"_ _3\"></span>ult of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h sele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive inve<span class=\"_ _3\"></span>st<span class=\"ls4 ws4\">-</span>ments in r<span class=\"_ _0\"></span>esearc<span class=\"_ _0\"></span>h and devel<span class=\"_ _0\"></span>op<span class=\"_ _3\"></span>ment and<span class=\"_ _0\"></span> commerc<span class=\"_ _0\"></span>ialization<span class=\"_ _0\"></span> 3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1f7\"> </span>N<span class=\"_ _3\"></span>ote<span class=\"_ _d0\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _231\"> </span>9<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>143<span class=\"_ _1b0\"> </span><span class=\"lse3 ws100\">19,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>3<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>Depreciations and amor<span class=\"_ _3\"></span>tizations936<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _d2\"> </span><span class=\"lse3 ws100\">39,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _bc\"> </span><span class=\"lse7 ws104\">43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _232\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _e1\"> </span><span class=\"lsf1 ws10e\">58,509<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _3\"></span>,563</span></span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _233\"> </span>12<span class=\"_ _3\"></span>.0%<span class=\"_ _1fc\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"> </span>3<span class=\"_ _1\"></span>%<span class=\"_ _8d\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>%</span>Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d topl<span class=\"_ _3\"></span>ine a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns in 2022 resu<span class=\"_ _3\"></span>lted in an i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA ma<span class=\"_ _3\"></span>rgin by 4<span class=\"_ _3\"></span>.7 pe<span class=\"_ _3\"></span>r<span class=\"ws4\">-</span>centa<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>t 12<span class=\"_ _3\"></span>% in 2022 (+68 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro ab<span class=\"_ _3\"></span>ove las<span class=\"_ _3\"></span>t year), co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to an EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA marg<span class=\"_ _3\"></span>in of 7<span class=\"_ _0\"></span>.3% o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 7<span class=\"_ _3\"></span>% in 2020. In 2022 d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are 2.8 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2021<span class=\"_ _3\"></span>, exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d by fu<span class=\"_ _3\"></span>lly a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are an<span class=\"_ _3\"></span>d acq<span class=\"_ _3\"></span>uired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-how i<span class=\"_ _3\"></span>n 2022.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _10e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _183\"> </span>2021<span class=\"_ _183\"> </span>2020</span>Product<span class=\"_ _0\"></span> sales<span class=\"_ _af\"> </span>882,0<span class=\"_ _3\"></span>52<span class=\"_ _94\"> </span>83%<span class=\"_ _c4\"> </span><span class=\"lsed ws10a\">663,034 <span class=\"_ _151\"> </span></span>8<span class=\"_ _3\"></span>3%<span class=\"_ _d4\"> </span><span class=\"lsed ws10a\">639,667<span class=\"_ _0\"></span> <span class=\"_ _10c\"> </span><span class=\"lsee ws10b\">83%</span></span>Project<span class=\"_ _0\"></span> sales<span class=\"_ _1ad\"> </span>73<span class=\"_ _3\"></span>,920<span class=\"_ _8e\"> </span><span class=\"ls191 ws255\">7%<span class=\"_ _10f\"> </span><span class=\"ls4 ws4\">65<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87 <span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">8%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _7b\"> </span></span></span></span>7%</span>Service sales<span class=\"_ _13\"> </span><span class=\"lsde wsfb\">102,<span class=\"_ _3\"></span>318<span class=\"_ _10\"> </span>10<span class=\"_ _3\"></span>%<span class=\"_ _fe\"> </span><span class=\"lsdd wsfa\">75<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>7 <span class=\"_ _60\"> </span><span class=\"lsf5 ws112\">9%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _9c\"> </span></span></span></span>10%</span>Sales<span class=\"_ _225\"> </span>1,058,<span class=\"_ _3\"></span>291<span class=\"_ _1d1\"> </span><span class=\"lsda wsf7\">804,288 <span class=\"_ _230\"> </span><span class=\"ls131 ws161\">770,083 </span></span>Maj<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>lates to p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s (in 2022: 83%<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span> 2021: 83%<span class=\"_ _3\"></span>, in 2020: 83%<span class=\"_ _3\"></span>). Projec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>t 7-8% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2020<span class=\"_ _3\"></span>-2022 a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de co<span class=\"_ _3\"></span>mbi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les f<span class=\"_ _3\"></span>rom pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>st of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les h<span class=\"_ _3\"></span>ave a lifeti<span class=\"_ _3\"></span>me of l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year. The s<span class=\"_ _3\"></span>hare of<span class=\"_ _3\"></span> ser<span class=\"_ _1\"></span>vice s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in 2022 is 10% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021:9%<span class=\"_ _3\"></span>, 2020: 10%).We refer to note 2 '<span class=\"_ _3\"></span>Se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent In<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n' an<span class=\"_ _3\"></span>d to the ch<span class=\"_ _3\"></span>apter \u2018Our resul<span class=\"_ _0\"></span>ts\u2019 for m<span class=\"_ _3\"></span>ore exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e fro<span class=\"_ _3\"></span>m operations.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ect s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt to 956.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 2022. We refer to t<span class=\"_ _3\"></span>he <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU ta<span class=\"_ _3\"></span>xono<span class=\"_ _3\"></span>my on p<span class=\"_ _3\"></span>. 59<span class=\"fc16 ls4 ws4\"> </span></span>for th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my el<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over i<span class=\"_ _3\"></span>n 2022.Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tInd<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2022 d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>sed to 30<span class=\"_ _3\"></span>.3 % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es (2021: 3<span class=\"_ _3\"></span>3%<span class=\"_ _3\"></span>, 2020: 34.<span class=\"_ _3\"></span>5%). In ab<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ute num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>rs in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y hig<span class=\"_ _3\"></span>h inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt as a re<span class=\"_ _3\"></span>sult of resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d. Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 were i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h 2020, a resu<span class=\"_ _3\"></span>lt of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ted temporary work arrangemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and ec<span class=\"_ _0\"></span>onomic unemployment<span class=\"_ _0\"></span> measur<span class=\"_ _0\"></span>es for bo<span class=\"_ _0\"></span>th white<span class=\"_ _0\"></span> and blue c<span class=\"_ _0\"></span>ollars, while sustaining<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. Bo<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>1 and 2020, t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ve im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s pre covi<span class=\"_ _3\"></span>d was<span class=\"_ _3\"></span> hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e redu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s v<span class=\"_ _3\"></span>ia cost m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures coul<span class=\"_ _0\"></span>d compensa<span class=\"_ _0\"></span>te f<span class=\"_ _0\"></span>or<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(a<span class=\"_ _0\"></span>) Researc<span class=\"_ _0\"></span>h and dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re spre<span class=\"_ _3\"></span>ad ove<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as fo<span class=\"_ _3\"></span>llows:In 2<span class=\"_ _0\"></span>022 res<span class=\"_ _0\"></span>earch<span class=\"_ _0\"></span> and development e<span class=\"_ _0\"></span>xpenses repr<span class=\"_ _0\"></span>esent 11.4% of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>12.6% in 202<span class=\"_ _3\"></span>1; 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>3% in 2020). In abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te numb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses h<span class=\"_ _3\"></span>ave in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 120<span class=\"_ _3\"></span>.5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro. I<span class=\"_ _3\"></span>n 2020 and 202<span class=\"_ _3\"></span>1, t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te level of resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of cost conta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n as resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>se to the cov<span class=\"_ _3\"></span>id cris<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, h<span class=\"_ _3\"></span>owever, contin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct road<span class=\"_ _3\"></span>map to su<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy leadership<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>osit<span class=\"_ _0\"></span>ion.On<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e cost rel<span class=\"_ _3\"></span>ated to rese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>erefore in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le Op<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>. We refer to the <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy o<span class=\"_ _3\"></span>n p. 61</span><span class=\"ls2a ws5b\"> for<span class=\"_ _3\"></span> th<span class=\"_ _3\"></span>e </span>EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>x in 2022. (b) Sal<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rketin<span class=\"_ _3\"></span>g expe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>esIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1b4\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esT<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ear<span class=\"_ _3\"></span>ch &amp; d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,493<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>4%<span class=\"_ _108\"> </span><span class=\"lse6 ws103\">101<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>38<span class=\"_ _53\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span></span>10<span class=\"_ _3\"></span>2,610<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esSales and marketing expen<span class=\"_ _3\"></span>ses14<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _149\"> </span>1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5%<span class=\"_ _108\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>0<span class=\"_ _148\"> </span></span>14<span class=\"_ _3\"></span>.5%<span class=\"_ _1a0\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,329<span class=\"_ _148\"> </span><span class=\"ls4 ws4\">14<span class=\"_ _3\"></span>.6%</span></span>Sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>ing e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e all i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d to the s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n wh<span class=\"_ _3\"></span>ich are n<span class=\"_ _3\"></span>ot bi<span class=\"_ _3\"></span>lled a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a prod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t or se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce to the cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er as w<span class=\"_ _3\"></span>ell a<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to regional or<span class=\"_ _0\"></span> divisional market<span class=\"_ _0\"></span>ing activities. Sales and mark<span class=\"_ _0\"></span>eting exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 14.5% in 2021 an<span class=\"_ _3\"></span>d 2020. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bsol<span class=\"_ _3\"></span>ute increa<span class=\"_ _3\"></span>se in 202<span class=\"_ _3\"></span>2 is th<span class=\"_ _3\"></span>e result of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in h<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>count<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y l<span class=\"_ _3\"></span>evel resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d, e.g<span class=\"_ _3\"></span>. trave<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>, pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covid<span class=\"_ _3\"></span>. (c<span class=\"_ _0\"></span>) General and ad<span class=\"_ _0\"></span>ministra<span class=\"_ _0\"></span>tion expensesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esGenera<span class=\"_ _3\"></span>l and administration e<span class=\"_ _0\"></span>xp<span class=\"_ _3\"></span>enses5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _df\"> </span></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _f\"> </span>6.0%<span class=\"_ _18c\"> </span><span class=\"ls131 ws161\">50,<span class=\"_ _3\"></span>362<span class=\"_ _b9\"> </span><span class=\"lse0 wsfd\">6.<span class=\"_ _3\"></span>5%</span></span>Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l and a<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are at 5.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, dow<span class=\"_ _3\"></span>n 1 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>t vers<span class=\"_ _3\"></span>us prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>us year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h alm<span class=\"_ _3\"></span>ost 10 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, du<span class=\"_ _3\"></span>e to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he inf<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in Europ<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d Am<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>as on pe<span class=\"_ _3\"></span>rso<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her cos<span class=\"_ _3\"></span>t of recr<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as a resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s back to a n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span> level.In 2021 a<span class=\"_ _3\"></span>nd 2020 ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s were low<span class=\"_ _3\"></span>er as a a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he co<span class=\"_ _0\"></span>vid<span class=\"_ _3\"></span>-relat<span class=\"_ _0\"></span>ed measures<span class=\"_ _0\"></span> taken.Stead<span class=\"_ _3\"></span>y inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in I<span class=\"_ _3\"></span>T sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>rs h<span class=\"_ _3\"></span>ave led to IT cost<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>ons o<span class=\"_ _3\"></span>n SA<span class=\"_ _3\"></span>P ERP sy<span class=\"_ _3\"></span>stem) re<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span><span class=\"ws4\">-</span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jor p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of G<span class=\"_ _3\"></span>&amp;A expe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s (2022: 42%<span class=\"_ _3\"></span>, 2021: 47%<span class=\"_ _3\"></span>, 2020: 45%).(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2022 i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith 103 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro or 24<span class=\"_ _0\"></span>% comp<span class=\"_ _3\"></span>ared to 202<span class=\"_ _3\"></span>1 whi<span class=\"_ _3\"></span>ch is in li<span class=\"_ _3\"></span>ne w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d top li<span class=\"_ _3\"></span>ne (<span class=\"_ _0\"></span>+<span class=\"_ _0\"></span>32<span class=\"_ _3\"></span>%). Al<span class=\"_ _3\"></span>so, in 202<span class=\"_ _3\"></span>2 mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ces du<span class=\"_ _3\"></span>e to infl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al cos<span class=\"_ _3\"></span>t we see a rela<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of t<span class=\"_ _3\"></span>he gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin o<span class=\"_ _3\"></span>f 4 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2021 in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed as p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to 2020, imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt pr<span class=\"_ _3\"></span>ices l<span class=\"_ _3\"></span>inke<span class=\"_ _3\"></span>d to sup<span class=\"_ _3\"></span>ply s<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>tag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost in 202<span class=\"_ _3\"></span>1 was 5<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>an 2020, but s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l 46 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pre covi<span class=\"_ _3\"></span>d level a<span class=\"_ _3\"></span>s a result of t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y measur<span class=\"_ _0\"></span>es and exec<span class=\"_ _0\"></span>uted r<span class=\"_ _0\"></span>estructuring lay-offs In 2020 an<span class=\"_ _3\"></span>d 2021 th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o ent<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ed sh<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>ann<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>terns o<span class=\"_ _3\"></span>n se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d a sus<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d str<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t disci<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>n dis<span class=\"_ _3\"></span>cretio<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y sp<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (e.g. t<span class=\"_ _3\"></span>rave<span class=\"_ _3\"></span>l, m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g spe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, cons<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>,\u2026 )<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any ma<span class=\"_ _3\"></span>de de<span class=\"_ _3\"></span>lib<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ate cho<span class=\"_ _3\"></span>ices on t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd ti<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le of se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted i<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in fu<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e focus s<span class=\"_ _3\"></span>hif<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is ha<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>lted in 8 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2020: 32.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro) lower s<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>vice<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce in 2022 a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n ser<span class=\"_ _1\"></span>vices a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r co<span class=\"_ _0\"></span>st<span class=\"_ _3\"></span>s, toget<span class=\"_ _0\"></span>her with higher i<span class=\"_ _0\"></span>nflation and c<span class=\"_ _0\"></span>ontractors hir<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> fi<span class=\"_ _3\"></span>ll temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y g<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r recr<span class=\"_ _3\"></span>uiti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.(see <span class=\"_ _3\"></span><span class=\"fc2 lsf ws38\">note<span class=\"_ _0\"></span> 5. Restructuring and impairments<span class=\"_ _0\"></span><span class=\"fc0 ls2d ws1a\">) to a<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s </span></span>wit<span class=\"_ _3\"></span>h lower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d as a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny ha<span class=\"_ _3\"></span>s implement<span class=\"_ _0\"></span>ed temporary work arr<span class=\"_ _0\"></span>angem<span class=\"_ _3\"></span>ents and ec<span class=\"_ _0\"></span>onomic un<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s as of 2020 for b<span class=\"_ _3\"></span>oth w<span class=\"_ _3\"></span>hite an<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>lue coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in con<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h count<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l fr<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>wor<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulations. Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020 ca<span class=\"_ _3\"></span>n be ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed by re<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ced une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures<span class=\"_ _3\"></span>, low<span class=\"_ _3\"></span>er wa<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>die<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>ved a<span class=\"_ _3\"></span>nd me<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>s (se<span class=\"_ _3\"></span>e \u2018Re<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t for f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l yea<span class=\"_ _3\"></span>r 2021\u2019 in corporat<span class=\"_ _0\"></span>e gov<span class=\"_ _0\"></span>ernance chap<span class=\"_ _0\"></span>ter)<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to ap<span class=\"_ _3\"></span>ply fo<span class=\"_ _3\"></span>r wag<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the ena<span class=\"_ _3\"></span>cted Co<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>-19 re<span class=\"_ _3\"></span>lief le<span class=\"_ _3\"></span>gis<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n APAC and C<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>da for 0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (2020: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, the<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>so i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g Cinionic<span class=\"_ _0\"></span> US)<span class=\"_ _0\"></span>.Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost i<span class=\"_ _3\"></span>n 2022 is 4<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>han 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, as a resu<span class=\"_ _3\"></span>lt of in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n and h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco\u2019s ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y r<span class=\"_ _3\"></span>ate is incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g ag<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d we saw an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of f<span class=\"_ _3\"></span>ull<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster of 202<span class=\"_ _3\"></span>2, an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y personnel compar<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> 2021.a) Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>nel c<span class=\"_ _3\"></span>ostIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Wages<span class=\"_ _0\"></span> and salaries<span class=\"_ _ac\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1ef\"> </span><span class=\"ls106 ws123\">-194,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>51<span class=\"_ _ae\"> </span><span class=\"lsfb ws118\">-189,654</span></span>So<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _f6\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _150\"> </span><span class=\"lsf0 ws10d\">-26<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>42<span class=\"_ _144\"> </span><span class=\"lsfe ws11b\">-25,494</span></span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e for d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _23b\"> </span>-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>859<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>339</span>T<span class=\"_ _0\"></span>emporary labour<span class=\"_ _23c\"> </span>-<span class=\"_ _3\"></span>4,004<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>61<span class=\"_ _90\"> </span><span class=\"lsed ws10a\">-2,388</span></span>Recruiting expenses<span class=\"_ _1b8\"> </span>-2,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span>-1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>52</span>Other personnel c<span class=\"_ _0\"></span>ost<span class=\"_ _23d\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>8<span class=\"_ _cb\"> </span><span class=\"lsf5 ws112\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,301<span class=\"_ _cb\"> </span><span class=\"lsed ws10a\">-2,<span class=\"_ _0\"></span>966</span></span>Personnel cost<span class=\"_ _23c\"> </span>-2<span class=\"_ _0\"></span>89,308<span class=\"_ _8d\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>03<span class=\"_ _8d\"> </span>-2<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2</span>Personnel c<span class=\"_ _0\"></span>ost incl<span class=\"_ _0\"></span>udes the co<span class=\"_ _0\"></span>st for t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y personnel for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 4 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (in 202<span class=\"_ _3\"></span>1: 1.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, i<span class=\"_ _3\"></span>n 2020: 2.4 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro). Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of f<span class=\"_ _3\"></span>ull t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>nts c<span class=\"_ _3\"></span>an b<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>lit as fo<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ws:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Ba<span class=\"_ _3\"></span>rco NV (<span class=\"_ _3\"></span>par<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>y)<span class=\"_ _20d\"> </span><span class=\"ls133 ws162\">1<span class=\"_ _3\"></span>,196<span class=\"_ _22\"> </span>1,199<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>282</span></span>Other subsidi<span class=\"_ _0\"></span>aries<span class=\"_ _165\"> </span>2,004<span class=\"_ _2b\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>,941<span class=\"_ _da\"> </span><span class=\"ls3c ws48\">2,237</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>ver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>l tim<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _ba\"> </span>3,<span class=\"_ _3\"></span>200<span class=\"_ _1d0\"> </span><span class=\"ls109 ws126\">3,140<span class=\"_ _1d0\"> </span><span class=\"ls10e ws12b\">3,<span class=\"_ _3\"></span>519</span></span>Aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>ees i<span class=\"_ _3\"></span>n 2022 wa<span class=\"_ _3\"></span>s 3,<span class=\"_ _3\"></span>200 (ve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>us 3,140 in 202<span class=\"_ _3\"></span>1; 3,<span class=\"_ _3\"></span>519 i<span class=\"_ _3\"></span>n 2020), inclu<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng 2,628 w<span class=\"_ _3\"></span>hite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>coll<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s (in 2021<span class=\"_ _3\"></span>: 2,<span class=\"_ _3\"></span>555, i<span class=\"_ _3\"></span>n 2020: 2,738<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d 572 b<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>colla<span class=\"_ _3\"></span>rs (i<span class=\"_ _3\"></span>n 2021: 585<span class=\"_ _3\"></span>, in 2020: 781). Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e leve<span class=\"_ _3\"></span>l of ble<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>coll<span class=\"_ _3\"></span>ars i<span class=\"_ _3\"></span>n 2022 is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch resu<span class=\"_ _3\"></span>lted in tem<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>rar<span class=\"_ _1\"></span>y une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>irs<span class=\"_ _3\"></span>t ha<span class=\"_ _3\"></span>lf of th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.Full ti<span class=\"_ _3\"></span>me e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>s at ye<span class=\"_ _3\"></span>ar en<span class=\"_ _3\"></span>d 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt to 3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>99 (ver<span class=\"_ _3\"></span>sus 3,1<span class=\"_ _3\"></span>33 e<span class=\"_ _3\"></span>nd of 2021<span class=\"_ _3\"></span>; 3,<span class=\"_ _3\"></span>317 en<span class=\"_ _3\"></span>d of 2020), in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 2,724 white coll<span class=\"_ _3\"></span>ars (<span class=\"_ _3\"></span>2021: 2,<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>8, in 2020: 2,6<span class=\"_ _3\"></span>71) a<span class=\"_ _3\"></span>nd 57<span class=\"_ _3\"></span>5 blu<span class=\"_ _3\"></span>e coll<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s (in 2021: 56<span class=\"_ _3\"></span>5, in 2020: 6<span class=\"_ _3\"></span>46).In 2020, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as imp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nted temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y wo<span class=\"_ _3\"></span>rk arrangements and ec<span class=\"_ _0\"></span>onomic unemployment<span class=\"_ _0\"></span> measures<span class=\"_ _0\"></span> for bot<span class=\"_ _3\"></span>h wh<span class=\"_ _3\"></span>ite and b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in co<span class=\"_ _3\"></span>nform<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>ith cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic legal framew<span class=\"_ _0\"></span>orks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulation<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. In<span class=\"_ _0\"></span> 2021 temp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rar<span class=\"_ _1\"></span>y meas<span class=\"_ _3\"></span>ures we<span class=\"_ _3\"></span>re ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed for a l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf yea<span class=\"_ _3\"></span>r on<span class=\"_ _3\"></span>ly, in conform<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>ith cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al f<span class=\"_ _3\"></span>ram<span class=\"_ _3\"></span>ewo<span class=\"_ _3\"></span>rks a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>ore s<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sures w<span class=\"_ _3\"></span>ere ta<span class=\"_ _3\"></span>ken. A<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d ha<span class=\"_ _3\"></span>lf of 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny noted a<span class=\"_ _3\"></span>n incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of vo<span class=\"_ _3\"></span>lunt<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y leaver<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed in t<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022. T<span class=\"_ _3\"></span>here i<span class=\"_ _3\"></span>s a lag<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the re<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>acem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>ose p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly o<span class=\"_ _3\"></span>ccurred i<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d ha<span class=\"_ _3\"></span>lf of 2022. T<span class=\"_ _3\"></span>his ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of fu<span class=\"_ _3\"></span>llti<span class=\"_ _3\"></span>me eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lent<span class=\"_ _3\"></span>s at ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d 2022, w<span class=\"_ _3\"></span>hile t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es is l<span class=\"_ _3\"></span>ower a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of full<span class=\"_ _0\"></span>time equivalents a<span class=\"_ _0\"></span>t year<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>end 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>, while<span class=\"_ _0\"></span> the personnel cost<span class=\"_ _3\"></span>s were s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-4": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ent2.6. Geographic in<span class=\"_ _0\"></span>formationMan<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>itors s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e reg<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to whi<span class=\"_ _3\"></span>ch the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds a<span class=\"_ _3\"></span>re ship<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ed or t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices a<span class=\"_ _3\"></span>re rend<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>d in three<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphical r<span class=\"_ _0\"></span>egions Eur<span class=\"_ _0\"></span>ope, Americas (North-A<span class=\"_ _3\"></span>merica an<span class=\"_ _3\"></span>d L<span class=\"_ _3\"></span>A<span class=\"_ _0\"></span>TAM) and A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Pa<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c (A<span class=\"_ _3\"></span>PAC)<span class=\"_ _0\"></span>. We refer to the \u2018<span class=\"fc2\">Co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>roup res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s</span>\u2019 for a sp<span class=\"_ _3\"></span>lit of reven<span class=\"_ _3\"></span>ue fro<span class=\"_ _3\"></span>m ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ogr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>al loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs to wh<span class=\"_ _3\"></span>om t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nvoice is i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ere is n<span class=\"_ _3\"></span>o sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant (i<span class=\"_ _3\"></span>.e. rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 10% of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s reven<span class=\"_ _3\"></span>ue) con<span class=\"_ _3\"></span>centr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of B<span class=\"_ _3\"></span>arco\u2019s revenu<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>th on<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>mer. Sa<span class=\"_ _3\"></span>les to B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium re<span class=\"_ _3\"></span>pres<span class=\"_ _3\"></span>ent 42 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up rev<span class=\"_ _3\"></span><span class=\"ws4\">-</span>en<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2022 ver<span class=\"_ _3\"></span>sus 2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 23 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on in 2020. Be<span class=\"_ _3\"></span>low ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>s an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r reg<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd the m<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s per region.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _221\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _222\"> </span>2021<span class=\"_ _223\"> </span>2020</span>Net salesEuro<span class=\"_ _3\"></span>pe405,19<span class=\"_ _3\"></span>0<span class=\"_ _8b\"> </span>38.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span>305,199<span class=\"_ _b9\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>%<span class=\"_ _d4\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>280<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.4%</span></span>Americas435<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>793<span class=\"_ _b9\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _c4\"> </span>3<span class=\"_ _3\"></span>00,<span class=\"_ _3\"></span>826<span class=\"_ _f\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"lsda wsf7\">296,942<span class=\"_ _86\"> </span><span class=\"lse7 ws104\">38<span class=\"_ _3\"></span>.6%</span></span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c217<span class=\"_ _0\"></span>,308<span class=\"_ _8b\"> </span>20<span class=\"_ _3\"></span>.5%<span class=\"_ _53\"> </span>19<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>262<span class=\"_ _b9\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls109 ws126\">192,862<span class=\"_ _86\"> </span><span class=\"lsf5 ws112\">25<span class=\"_ _3\"></span>.0%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l1,058,291<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _37\"> </span><span class=\"lsda wsf7\">804,288<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d4\"> </span><span class=\"ls131 ws161\">770,083<span class=\"_ _f\"> </span></span>10<span class=\"_ _3\"></span>0%</span>T<span class=\"_ _0\"></span>otal assetsEuro<span class=\"_ _3\"></span>pe<span class=\"_ _19e\"> </span>515,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _8b\"> </span>44<span class=\"_ _3\"></span>.9%<span class=\"_ _86\"> </span><span class=\"ls42 ws6f\">557<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">50.<span class=\"_ _3\"></span>5%</span></span>45<span class=\"_ _3\"></span>5,93<span class=\"_ _3\"></span>0<span class=\"_ _86\"> </span><span class=\"ls89 wsa4\">4<span class=\"_ _3\"></span>4.8%</span>Americas<span class=\"_ _224\"> </span><span class=\"lsf0 ws10d\">266<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>78<span class=\"_ _10f\"> </span><span class=\"lsee ws10b\">23.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span></span>180,<span class=\"_ _3\"></span>303<span class=\"_ _b9\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>222,214<span class=\"_ _10f\"> </span><span class=\"ls139 ws168\">21.8%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _2d\"> </span>365,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>7<span class=\"_ _b9\"> </span>31<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">366,3<span class=\"_ _3\"></span>75<span class=\"_ _8b\"> </span><span class=\"lse9 ws106\">33.<span class=\"_ _3\"></span>2%</span></span>3<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>,059<span class=\"_ _10f\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _225\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _b9\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"ls19a ws26f\">1,1<span class=\"_ _0\"></span>04,2<span class=\"_ _0\"></span>49<span class=\"_ _b8\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%</span></span>1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100%</span>Pur<span class=\"_ _3\"></span>cha<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s of ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s (excl<span class=\"_ _3\"></span>. IFR<span class=\"_ _3\"></span>S 16)*Euro<span class=\"_ _3\"></span>pe <span class=\"_ _197\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _f\"> </span>4<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _36\"> </span><span class=\"lsfb ws118\">8,186<span class=\"_ _10f\"> </span><span class=\"lse7 ws104\">43.<span class=\"_ _3\"></span>6%</span></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _8b\"> </span><span class=\"ls139 ws168\">48.8%</span>Americas<span class=\"_ _226\"> </span>3,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3<span class=\"_ _147\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>%<span class=\"_ _1a8\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>223<span class=\"_ _50\"> </span><span class=\"ls106 ws123\">6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _4a\"> </span><span class=\"lse7 ws104\">9.6%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _192\"> </span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _10f\"> </span>35<span class=\"_ _3\"></span>.0%<span class=\"_ _3d\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>9<span class=\"_ _8b\"> </span><span class=\"lse7 ws104\">49.9<span class=\"_ _3\"></span>%</span></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _196\"> </span>21,<span class=\"_ _3\"></span>218<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100<span class=\"_ _3\"></span>%<span class=\"_ _f\"> </span><span class=\"ls89 wsa4\">18<span class=\"_ _3\"></span>,787<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%</span>14,9<span class=\"_ _3\"></span>80<span class=\"_ _89\"> </span><span class=\"lse6 ws103\">100%</span>Sa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _10e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _183\"> </span>2021<span class=\"_ _183\"> </span>2020</span>Product<span class=\"_ _0\"></span> sales<span class=\"_ _af\"> </span>882,0<span class=\"_ _3\"></span>52<span class=\"_ _94\"> </span>83%<span class=\"_ _c4\"> </span><span class=\"lsed ws10a\">663,034 <span class=\"_ _151\"> </span></span>8<span class=\"_ _3\"></span>3%<span class=\"_ _d4\"> </span><span class=\"lsed ws10a\">639,667<span class=\"_ _0\"></span> <span class=\"_ _10c\"> </span><span class=\"lsee ws10b\">83%</span></span>Project<span class=\"_ _0\"></span> sales<span class=\"_ _1ad\"> </span>73<span class=\"_ _3\"></span>,920<span class=\"_ _8e\"> </span><span class=\"ls191 ws255\">7%<span class=\"_ _10f\"> </span><span class=\"ls4 ws4\">65<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87 <span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">8%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _7b\"> </span></span></span></span>7%</span>Service sales<span class=\"_ _13\"> </span><span class=\"lsde wsfb\">102,<span class=\"_ _3\"></span>318<span class=\"_ _10\"> </span>10<span class=\"_ _3\"></span>%<span class=\"_ _fe\"> </span><span class=\"lsdd wsfa\">75<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>7 <span class=\"_ _60\"> </span><span class=\"lsf5 ws112\">9%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _9c\"> </span></span></span></span>10%</span>Sales<span class=\"_ _225\"> </span>1,058,<span class=\"_ _3\"></span>291<span class=\"_ _1d1\"> </span><span class=\"lsda wsf7\">804,288 <span class=\"_ _230\"> </span><span class=\"ls131 ws161\">770,083 </span></span>Maj<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>lates to p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s (in 2022: 83%<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span> 2021: 83%<span class=\"_ _3\"></span>, in 2020: 83%<span class=\"_ _3\"></span>). Projec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>t 7-8% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2020<span class=\"_ _3\"></span>-2022 a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de co<span class=\"_ _3\"></span>mbi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les f<span class=\"_ _3\"></span>rom pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>st of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les h<span class=\"_ _3\"></span>ave a lifeti<span class=\"_ _3\"></span>me of l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year. The s<span class=\"_ _3\"></span>hare of<span class=\"_ _3\"></span> ser<span class=\"_ _1\"></span>vice s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in 2022 is 10% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021:9%<span class=\"_ _3\"></span>, 2020: 10%).We refer to note 2 '<span class=\"_ _3\"></span>Se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent In<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n' an<span class=\"_ _3\"></span>d to the ch<span class=\"_ _3\"></span>apter \u2018Our resul<span class=\"_ _0\"></span>ts\u2019 for m<span class=\"_ _3\"></span>ore exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e fro<span class=\"_ _3\"></span>m operations.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ect s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt to 956.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 2022. We refer to t<span class=\"_ _3\"></span>he <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU ta<span class=\"_ _3\"></span>xono<span class=\"_ _3\"></span>my on p<span class=\"_ _3\"></span>. 59<span class=\"fc16 ls4 ws4\"> </span></span>for th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my el<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over i<span class=\"_ _3\"></span>n 2022.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-5": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ent2.6. Geographic in<span class=\"_ _0\"></span>formationMan<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>itors s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e reg<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to whi<span class=\"_ _3\"></span>ch the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds a<span class=\"_ _3\"></span>re ship<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ed or t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices a<span class=\"_ _3\"></span>re rend<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>d in three<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphical r<span class=\"_ _0\"></span>egions Eur<span class=\"_ _0\"></span>ope, Americas (North-A<span class=\"_ _3\"></span>merica an<span class=\"_ _3\"></span>d L<span class=\"_ _3\"></span>A<span class=\"_ _0\"></span>TAM) and A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Pa<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c (A<span class=\"_ _3\"></span>PAC)<span class=\"_ _0\"></span>. We refer to the \u2018<span class=\"fc2\">Co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>roup res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s</span>\u2019 for a sp<span class=\"_ _3\"></span>lit of reven<span class=\"_ _3\"></span>ue fro<span class=\"_ _3\"></span>m ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ogr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>al loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs to wh<span class=\"_ _3\"></span>om t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nvoice is i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ere is n<span class=\"_ _3\"></span>o sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant (i<span class=\"_ _3\"></span>.e. rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 10% of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s reven<span class=\"_ _3\"></span>ue) con<span class=\"_ _3\"></span>centr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of B<span class=\"_ _3\"></span>arco\u2019s revenu<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>th on<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>mer. Sa<span class=\"_ _3\"></span>les to B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium re<span class=\"_ _3\"></span>pres<span class=\"_ _3\"></span>ent 42 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up rev<span class=\"_ _3\"></span><span class=\"ws4\">-</span>en<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2022 ver<span class=\"_ _3\"></span>sus 2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 23 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on in 2020. Be<span class=\"_ _3\"></span>low ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>s an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r reg<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd the m<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s per region.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _221\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _222\"> </span>2021<span class=\"_ _223\"> </span>2020</span>Net salesEuro<span class=\"_ _3\"></span>pe405,19<span class=\"_ _3\"></span>0<span class=\"_ _8b\"> </span>38.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span>305,199<span class=\"_ _b9\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>%<span class=\"_ _d4\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>280<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.4%</span></span>Americas435<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>793<span class=\"_ _b9\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _c4\"> </span>3<span class=\"_ _3\"></span>00,<span class=\"_ _3\"></span>826<span class=\"_ _f\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"lsda wsf7\">296,942<span class=\"_ _86\"> </span><span class=\"lse7 ws104\">38<span class=\"_ _3\"></span>.6%</span></span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c217<span class=\"_ _0\"></span>,308<span class=\"_ _8b\"> </span>20<span class=\"_ _3\"></span>.5%<span class=\"_ _53\"> </span>19<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>262<span class=\"_ _b9\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls109 ws126\">192,862<span class=\"_ _86\"> </span><span class=\"lsf5 ws112\">25<span class=\"_ _3\"></span>.0%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l1,058,291<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _37\"> </span><span class=\"lsda wsf7\">804,288<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d4\"> </span><span class=\"ls131 ws161\">770,083<span class=\"_ _f\"> </span></span>10<span class=\"_ _3\"></span>0%</span>T<span class=\"_ _0\"></span>otal assetsEuro<span class=\"_ _3\"></span>pe<span class=\"_ _19e\"> </span>515,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _8b\"> </span>44<span class=\"_ _3\"></span>.9%<span class=\"_ _86\"> </span><span class=\"ls42 ws6f\">557<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">50.<span class=\"_ _3\"></span>5%</span></span>45<span class=\"_ _3\"></span>5,93<span class=\"_ _3\"></span>0<span class=\"_ _86\"> </span><span class=\"ls89 wsa4\">4<span class=\"_ _3\"></span>4.8%</span>Americas<span class=\"_ _224\"> </span><span class=\"lsf0 ws10d\">266<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>78<span class=\"_ _10f\"> </span><span class=\"lsee ws10b\">23.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span></span>180,<span class=\"_ _3\"></span>303<span class=\"_ _b9\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>222,214<span class=\"_ _10f\"> </span><span class=\"ls139 ws168\">21.8%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _2d\"> </span>365,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>7<span class=\"_ _b9\"> </span>31<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">366,3<span class=\"_ _3\"></span>75<span class=\"_ _8b\"> </span><span class=\"lse9 ws106\">33.<span class=\"_ _3\"></span>2%</span></span>3<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>,059<span class=\"_ _10f\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _225\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _b9\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"ls19a ws26f\">1,1<span class=\"_ _0\"></span>04,2<span class=\"_ _0\"></span>49<span class=\"_ _b8\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%</span></span>1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100%</span>Pur<span class=\"_ _3\"></span>cha<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s of ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s (excl<span class=\"_ _3\"></span>. IFR<span class=\"_ _3\"></span>S 16)*Euro<span class=\"_ _3\"></span>pe <span class=\"_ _197\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _f\"> </span>4<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _36\"> </span><span class=\"lsfb ws118\">8,186<span class=\"_ _10f\"> </span><span class=\"lse7 ws104\">43.<span class=\"_ _3\"></span>6%</span></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _8b\"> </span><span class=\"ls139 ws168\">48.8%</span>Americas<span class=\"_ _226\"> </span>3,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3<span class=\"_ _147\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>%<span class=\"_ _1a8\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>223<span class=\"_ _50\"> </span><span class=\"ls106 ws123\">6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _4a\"> </span><span class=\"lse7 ws104\">9.6%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _192\"> </span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _10f\"> </span>35<span class=\"_ _3\"></span>.0%<span class=\"_ _3d\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>9<span class=\"_ _8b\"> </span><span class=\"lse7 ws104\">49.9<span class=\"_ _3\"></span>%</span></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _196\"> </span>21,<span class=\"_ _3\"></span>218<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100<span class=\"_ _3\"></span>%<span class=\"_ _f\"> </span><span class=\"ls89 wsa4\">18<span class=\"_ _3\"></span>,787<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%</span>14,9<span class=\"_ _3\"></span>80<span class=\"_ _89\"> </span><span class=\"lse6 ws103\">100%</span>Sa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _10e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _183\"> </span>2021<span class=\"_ _183\"> </span>2020</span>Product<span class=\"_ _0\"></span> sales<span class=\"_ _af\"> </span>882,0<span class=\"_ _3\"></span>52<span class=\"_ _94\"> </span>83%<span class=\"_ _c4\"> </span><span class=\"lsed ws10a\">663,034 <span class=\"_ _151\"> </span></span>8<span class=\"_ _3\"></span>3%<span class=\"_ _d4\"> </span><span class=\"lsed ws10a\">639,667<span class=\"_ _0\"></span> <span class=\"_ _10c\"> </span><span class=\"lsee ws10b\">83%</span></span>Project<span class=\"_ _0\"></span> sales<span class=\"_ _1ad\"> </span>73<span class=\"_ _3\"></span>,920<span class=\"_ _8e\"> </span><span class=\"ls191 ws255\">7%<span class=\"_ _10f\"> </span><span class=\"ls4 ws4\">65<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87 <span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">8%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _7b\"> </span></span></span></span>7%</span>Service sales<span class=\"_ _13\"> </span><span class=\"lsde wsfb\">102,<span class=\"_ _3\"></span>318<span class=\"_ _10\"> </span>10<span class=\"_ _3\"></span>%<span class=\"_ _fe\"> </span><span class=\"lsdd wsfa\">75<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>7 <span class=\"_ _60\"> </span><span class=\"lsf5 ws112\">9%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _9c\"> </span></span></span></span>10%</span>Sales<span class=\"_ _225\"> </span>1,058,<span class=\"_ _3\"></span>291<span class=\"_ _1d1\"> </span><span class=\"lsda wsf7\">804,288 <span class=\"_ _230\"> </span><span class=\"ls131 ws161\">770,083 </span></span>Maj<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>lates to p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s (in 2022: 83%<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span> 2021: 83%<span class=\"_ _3\"></span>, in 2020: 83%<span class=\"_ _3\"></span>). Projec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>t 7-8% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2020<span class=\"_ _3\"></span>-2022 a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de co<span class=\"_ _3\"></span>mbi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les f<span class=\"_ _3\"></span>rom pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>st of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les h<span class=\"_ _3\"></span>ave a lifeti<span class=\"_ _3\"></span>me of l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year. The s<span class=\"_ _3\"></span>hare of<span class=\"_ _3\"></span> ser<span class=\"_ _1\"></span>vice s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in 2022 is 10% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021:9%<span class=\"_ _3\"></span>, 2020: 10%).We refer to note 2 '<span class=\"_ _3\"></span>Se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent In<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n' an<span class=\"_ _3\"></span>d to the ch<span class=\"_ _3\"></span>apter \u2018Our resul<span class=\"_ _0\"></span>ts\u2019 for m<span class=\"_ _3\"></span>ore exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e fro<span class=\"_ _3\"></span>m operations.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ect s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt to 956.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 2022. We refer to t<span class=\"_ _3\"></span>he <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU ta<span class=\"_ _3\"></span>xono<span class=\"_ _3\"></span>my on p<span class=\"_ _3\"></span>. 59<span class=\"fc16 ls4 ws4\"> </span></span>for th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my el<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over i<span class=\"_ _3\"></span>n 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-6": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>Sa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-7": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>entIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1f7\"> </span>N<span class=\"_ _3\"></span>ote<span class=\"_ _d0\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _231\"> </span>9<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>143<span class=\"_ _1b0\"> </span><span class=\"lse3 ws100\">19,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>3<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>Depreciations and amor<span class=\"_ _3\"></span>tizations936<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _d2\"> </span><span class=\"lse3 ws100\">39,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _bc\"> </span><span class=\"lse7 ws104\">43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _232\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _e1\"> </span><span class=\"lsf1 ws10e\">58,509<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _3\"></span>,563</span></span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _233\"> </span>12<span class=\"_ _3\"></span>.0%<span class=\"_ _1fc\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"> </span>3<span class=\"_ _1\"></span>%<span class=\"_ _8d\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>%</span>Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d topl<span class=\"_ _3\"></span>ine a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns in 2022 resu<span class=\"_ _3\"></span>lted in an i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA ma<span class=\"_ _3\"></span>rgin by 4<span class=\"_ _3\"></span>.7 pe<span class=\"_ _3\"></span>r<span class=\"ws4\">-</span>centa<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>t 12<span class=\"_ _3\"></span>% in 2022 (+68 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro ab<span class=\"_ _3\"></span>ove las<span class=\"_ _3\"></span>t year), co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to an EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA marg<span class=\"_ _3\"></span>in of 7<span class=\"_ _0\"></span>.3% o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 7<span class=\"_ _3\"></span>% in 2020. In 2022 d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are 2.8 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2021<span class=\"_ _3\"></span>, exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d by fu<span class=\"_ _3\"></span>lly a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are an<span class=\"_ _3\"></span>d acq<span class=\"_ _3\"></span>uired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-how i<span class=\"_ _3\"></span>n 2022.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.9<span class=\"_ _0\"></span>.1 Other intangible assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _251\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _cc\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>2020</span>Other Intangible <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>Cust<span class=\"_ _0\"></span>omer<span class=\"ls4 ws4\"> </span>Other as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r <span class=\"_ _21\"></span> Sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wareRelations<span class=\"_ _89\"> </span><span class=\"lsd3 wsc6\">K<span class=\"_ _3\"></span>now-how</span>Intangible Assetsconstructi<span class=\"_ _0\"></span>on<span class=\"_ _22a\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>24<span class=\"_ _cf\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _22a\"> </span></span></span>9,90<span class=\"_ _3\"></span>7<span class=\"_ _90\"> </span></span>-<span class=\"_ _6a\"> </span>136<span class=\"_ _3\"></span>,578<span class=\"_ _76\"> </span><span class=\"ls108 ws125\">134,6<span class=\"_ _0\"></span>08<span class=\"_ _6a\"> </span><span class=\"ls42 ws6f\">1<span class=\"_ _3\"></span>57<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250</span></span>Expenditure<span class=\"_ _1f7\"> </span>489<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,733<span class=\"_ _cb\"> </span></span>-<span class=\"_ _c0\"> </span>1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>14<span class=\"_ _d2\"> </span>3,836<span class=\"_ _1b0\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>230<span class=\"_ _101\"> </span><span class=\"lsdd wsfa\">1,9<span class=\"_ _3\"></span>51</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _81\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>8,0<span class=\"_ _3\"></span>64</span></span>Acquisi<span class=\"_ _0\"></span>tion of sub<span class=\"_ _0\"></span>sidiaries<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-</span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a6\"> </span>1,552<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>552<span class=\"_ _cb\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _91\"> </span>600<span class=\"_ _8f\"> </span>147<span class=\"_ _8f\"> </span>-23<span class=\"_ _144\"> </span>-5<span class=\"_ _90\"> </span>-<span class=\"_ _8d\"> </span>719<span class=\"_ _d2\"> </span><span class=\"lsfb ws118\">4,052<span class=\"_ _73\"> </span><span class=\"lsf4 ws111\">-16,<span class=\"_ _3\"></span>529</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _107\"> </span>65,998<span class=\"_ _be\"> </span>9,<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>8<span class=\"_ _bb\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>5<span class=\"_ _3\"></span>,20<span class=\"_ _3\"></span>0<span class=\"_ _1ef\"> </span>62<span class=\"_ _1a4\"> </span>128<span class=\"_ _3\"></span>,64<span class=\"_ _3\"></span>6<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>36,<span class=\"_ _3\"></span>578<span class=\"_ _1a4\"> </span>13<span class=\"_ _3\"></span>4,608</span>Amortizations and<span class=\"_ _0\"></span> impairmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _ab\"> </span>48,<span class=\"_ _3\"></span>709<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _67\"> </span></span>45,702<span class=\"_ _cc\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _cb\"> </span></span>-<span class=\"_ _ad\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _62\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>55<span class=\"_ _ad\"> </span><span class=\"lsea ws107\">11<span class=\"_ _3\"></span>2,781</span></span>Amor<span class=\"_ _3\"></span>tization<span class=\"_ _123\"> </span>6,3<span class=\"_ _3\"></span>75<span class=\"_ _90\"> </span>-<span class=\"_ _d2\"> </span>3,602<span class=\"_ _49\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _90\"> </span></span>-<span class=\"_ _67\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsfb ws118\">13,0<span class=\"_ _3\"></span>95<span class=\"_ _bb\"> </span><span class=\"lsed ws10a\">13,<span class=\"_ _3\"></span>388</span></span>Impairment<span class=\"_ _1ae\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>500</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _bc\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>3</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _21c\"> </span>23<span class=\"_ _8f\"> </span>147<span class=\"_ _8d\"> </span>159<span class=\"_ _ae\"> </span>-27<span class=\"_ _cb\"> </span>-<span class=\"_ _b\"> </span>302<span class=\"_ _c0\"> </span><span class=\"lsfb ws118\">3,713<span class=\"_ _ad\"> </span><span class=\"lsf4 ws111\">-16,0<span class=\"_ _3\"></span>61</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1d7\"> </span>5<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>703<span class=\"_ _d2\"> </span>9,8<span class=\"_ _3\"></span>18<span class=\"_ _81\"> </span>39,928<span class=\"_ _bc\"> </span><span class=\"ls84 ws9f\">4,946<span class=\"_ _b3\"> </span></span>-<span class=\"_ _8e\"> </span><span class=\"lse7 ws104\">109,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>96<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _63\"> </span><span class=\"lse6 ws103\">105<span class=\"_ _3\"></span>,655</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19f\"> </span><span class=\"ls131 ws161\">15,053<span class=\"_ _39\"> </span></span>-<span class=\"_ _b0\"> </span>2,084<span class=\"_ _d6\"> </span><span class=\"lse9 ws106\">290<span class=\"_ _39\"> </span></span>-<span class=\"_ _7e\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7<span class=\"_ _bb\"> </span><span class=\"lsea ws107\">28,9<span class=\"_ _3\"></span>52<span class=\"_ _73\"> </span><span class=\"lsee ws10b\">4<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>69</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _19c\"> </span><span class=\"ls19a ws26f\">11,296<span class=\"_ _39\"> </span></span>-<span class=\"_ _be\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _8d\"> </span><span class=\"ls89 wsa4\">253<span class=\"_ _1ef\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _78\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>251<span class=\"_ _7e\"> </span></span></span></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _81\"> </span><span class=\"lsea ws107\">28<span class=\"_ _3\"></span>,952</span></span>A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e Gn<span class=\"_ _3\"></span>osco a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how fo<span class=\"_ _3\"></span>r an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 7<span class=\"_ _2\"></span>.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro wa<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch is am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over 5 year<span class=\"_ _3\"></span>s. We refer to n<span class=\"_ _3\"></span>ote 1.<span class=\"_ _3\"></span>3 for m<span class=\"_ _3\"></span>ore e<span class=\"_ _3\"></span>xpl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n on t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et assets<span class=\"_ _0\"></span> acquired.<span class=\"_ _0\"></span> Barco\u2019s int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de S<span class=\"_ _3\"></span>AP ERP so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware a<span class=\"_ _3\"></span>nd rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how. In 2022, c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 2.1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2021: 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s in 2022 an<span class=\"_ _3\"></span>d 2021 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to ne<span class=\"_ _3\"></span>w custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span> relation<span class=\"_ _0\"></span>ship management (C<span class=\"_ _0\"></span>RM) software. Expenditur<span class=\"_ _0\"></span>es in 2020 were ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly rela<span class=\"_ _3\"></span>ted to SAP ER<span class=\"_ _3\"></span>P sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re lice<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 rel<span class=\"_ _3\"></span>ate to ful<span class=\"_ _3\"></span>ly am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized IT so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware<span class=\"_ _3\"></span> whi<span class=\"_ _3\"></span>ch is no l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r use<span class=\"_ _3\"></span>d.In 2020 th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t on acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>sulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of 3.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro on th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d kno<span class=\"_ _3\"></span>w-how fo<span class=\"_ _3\"></span>r care<span class=\"_ _3\"></span>sy<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>x.Th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent cos<span class=\"_ _3\"></span>t is in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt expenses in 20<span class=\"_ _0\"></span>20.Th<span class=\"_ _3\"></span>e grou<span class=\"_ _3\"></span>p pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t revie<span class=\"_ _3\"></span>w on acqu<span class=\"_ _3\"></span>ired i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he fou<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>th q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter o<span class=\"_ _3\"></span>f 2022 cons<span class=\"_ _3\"></span>istent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or yea<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>l at<span class=\"_ _3\"></span>tenti<span class=\"_ _3\"></span>on w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>id to th<span class=\"_ _3\"></span>e potent<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pacts of<span class=\"_ _0\"></span> the macr<span class=\"_ _0\"></span>oeconomic e<span class=\"_ _0\"></span>nvironment.<span class=\"_ _0\"></span> The test<span class=\"_ _0\"></span> concluded<span class=\"_ _0\"></span> no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Barco do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot ho<span class=\"_ _3\"></span>ld in<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>ith in<span class=\"_ _3\"></span>def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ite lifeti<span class=\"_ _3\"></span>me.9<span class=\"_ _0\"></span>.2. T<span class=\"_ _0\"></span>angible fixed assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _253\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _63\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Furniture,<span class=\"_ _0\"></span> Pl<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>, of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>OtherLa<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y and eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt  pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ty, pl<span class=\"_ _3\"></span>ant A<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al O<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r buildingsequi<span class=\"_ _3\"></span>pmentand vehicl<span class=\"_ _0\"></span>esand equipmentconstructi<span class=\"_ _0\"></span>ontangible assets<span class=\"_ _8e\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _7b\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19e\"> </span>138,155<span class=\"_ _43\"> </span><span class=\"ls19c ws271\">8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>6<span class=\"_ _4\"> </span>4<span class=\"_ _6e\"> </span><span class=\"lsed ws10a\">42,217<span class=\"_ _43\"> </span><span class=\"ls109 ws126\">12,586<span class=\"_ _1a4\"> </span><span class=\"lsda wsf7\">3,794<span class=\"_ _178\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>62<span class=\"_ _178\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _151\"> </span></span></span></span></span></span>2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4e\"> </span><span class=\"lsdd wsfa\">276<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>2</span></span>Expenditure*<span class=\"_ _254\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>39<span class=\"_ _6c\"> </span><span class=\"lsf0 ws10d\">6<span class=\"_ _3\"></span>,429<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">1,099<span class=\"_ _76\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _40\"> </span></span>22,383<span class=\"_ _54\"> </span><span class=\"ls138 ws167\">30,020<span class=\"_ _43\"> </span></span></span></span></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _ff\"> </span><span class=\"lsde wsfb\">26,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _109\"> </span>-14<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span>-6<span class=\"_ _3\"></span>,790<span class=\"_ _70\"> </span>-4,<span class=\"_ _3\"></span>822<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _8d\"> </span></span>-<span class=\"_ _10c\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>95<span class=\"_ _178\"> </span>-28,<span class=\"_ _3\"></span>03<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,614<span class=\"_ _3d\"> </span><span class=\"lse7 ws104\">-29,8<span class=\"_ _3\"></span>47</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a5\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">2,533<span class=\"_ _67\"> </span><span class=\"lsfe ws11b\">3<span class=\"_ _3\"></span>45<span class=\"_ _76\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,936<span class=\"_ _10\"> </span></span>-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>082<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _8d\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>227<span class=\"_ _73\"> </span>-9<span class=\"_ _3\"></span>81<span class=\"_ _de\"> </span>-83<span class=\"_ _16b\"> </span>-1<span class=\"_ _1\"></span>24<span class=\"_ _7e\"> </span>-9<span class=\"_ _3\"></span>0<span class=\"_ _71\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>27<span class=\"_ _1\"></span>7<span class=\"_ _6e\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>50<span class=\"_ _235\"> </span><span class=\"lsea ws107\">6<span class=\"_ _3\"></span>,786<span class=\"_ _ff\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>3</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>32,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _40\"> </span><span class=\"ls3c ws48\">87<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>566<span class=\"_ _10c\"> </span><span class=\"ls109 ws126\">4<span class=\"_ _3\"></span>4,086<span class=\"_ _40\"> </span><span class=\"ls190 ws254\">13,813<span class=\"_ _6c\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"ls10e ws12b\">15<span class=\"_ _3\"></span>2,70<span class=\"_ _3\"></span>4<span class=\"_ _46\"> </span><span class=\"lsea ws107\">285,<span class=\"_ _3\"></span>253<span class=\"_ _3a\"> </span></span></span></span></span></span>284,317<span class=\"_ _52\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _126\"> </span>59,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>3<span class=\"_ _10\"> </span>57<span class=\"_ _0\"></span>,850<span class=\"_ _10\"> </span>3<span class=\"_ _3\"></span>0,187<span class=\"_ _68\"> </span>9,8<span class=\"_ _3\"></span>40<span class=\"_ _8d\"> </span>-<span class=\"_ _70\"> </span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _ff\"> </span>1<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _178\"> </span><span class=\"lsed ws10a\">14<span class=\"_ _0\"></span>3,630<span class=\"_ _3d\"> </span><span class=\"lsdc wsf9\">141,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>93</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _123\"> </span>11,2<span class=\"_ _0\"></span>42<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _76\"> </span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>39<span class=\"_ _235\"> </span>1,0<span class=\"_ _3\"></span>68<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span></span>1<span class=\"_ _3\"></span>5,052<span class=\"_ _94\"> </span><span class=\"lsf0 ws10d\">26,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"ls103 ws120\">26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _4b\"> </span></span>26<span class=\"_ _3\"></span>,495</span>Impairment<span class=\"_ _1b5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _60\"> </span><span class=\"lsfb ws118\">5,757</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _2d\"> </span>-<span class=\"_ _3\"></span>8,135<span class=\"_ _7b\"> </span>-<span class=\"_ _1\"></span>6,<span class=\"_ _3\"></span>731<span class=\"_ _255\"> </span>-4,<span class=\"_ _3\"></span>589<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _1fc\"> </span></span>-<span class=\"_ _151\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>02<span class=\"_ _54\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span></span>-1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>787<span class=\"_ _50\"> </span><span class=\"lsf0 ws10d\">-26,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _159\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"ls109 ws126\">22<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _de\"> </span><span class=\"ls42 ws6f\">-50<span class=\"_ _1fc\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>212<span class=\"_ _65\"> </span>-2<span class=\"_ _3\"></span>34<span class=\"_ _b0\"> </span>-75<span class=\"_ _e1\"> </span><span class=\"lsda wsf7\">-94<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">-4<span class=\"_ _3\"></span>03<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-191<span class=\"_ _6c\"> </span></span></span></span>3,<span class=\"_ _3\"></span>546<span class=\"_ _10c\"> </span><span class=\"ls4 ws4\">-3<span class=\"_ _3\"></span>,669</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _31\"> </span>62,872<span class=\"_ _43\"> </span>58,<span class=\"_ _3\"></span>751<span class=\"_ _94\"> </span>31<span class=\"_ _3\"></span>,690<span class=\"_ _68\"> </span><span class=\"lse7 ws104\">9,0<span class=\"_ _3\"></span>82<span class=\"_ _b\"> </span></span>-<span class=\"_ _94\"> </span>9<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>23<span class=\"_ _36\"> </span>162<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>96<span class=\"_ _1a8\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1aa\"> </span><span class=\"lsfc ws119\">143<span class=\"_ _3\"></span>,63<span class=\"_ _3\"></span>0</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _11b\"> </span>78,6<span class=\"_ _3\"></span>02<span class=\"_ _43\"> </span>2<span class=\"_ _3\"></span>9,71<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>031<span class=\"_ _235\"> </span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span>3,79<span class=\"_ _3\"></span>4<span class=\"_ _9c\"> </span>48<span class=\"_ _3\"></span>,28<span class=\"_ _3\"></span>5<span class=\"_ _46\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>,88<span class=\"_ _3\"></span>7<span class=\"_ _3a\"> </span><span class=\"ls36 ws40\">123,47<span class=\"_ _0\"></span>4<span class=\"_ _fe\"> </span><span class=\"lsee ws10b\">13<span class=\"_ _3\"></span>5,469</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b3\"> </span>69,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>7<span class=\"_ _40\"> </span>28,815<span class=\"_ _54\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>396<span class=\"_ _8e\"> </span>4,7<span class=\"_ _3\"></span>31<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _70\"> </span>53,181<span class=\"_ _36\"> </span>122,856<span class=\"_ _3d\"> </span><span class=\"ls10e ws12b\">126<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>86<span class=\"_ _52\"> </span><span class=\"ls36 ws40\">123,473</span></span>(*) E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns fo<span class=\"_ _3\"></span>r IF<span class=\"_ _3\"></span>RS16<span class=\"_ _3\"></span>. Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ndit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in 2022<span class=\"_ _3\"></span>, exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g the<span class=\"_ _3\"></span> imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of IFRS<span class=\"_ _3\"></span>16, am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 19 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in 2022 con<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>urch<span class=\"_ _3\"></span>ase of l<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>w fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n Chin<span class=\"_ _3\"></span>a, Wux<span class=\"_ _3\"></span>i (4 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d rene<span class=\"_ _3\"></span>wal o<span class=\"_ _3\"></span>f dem<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce center<span class=\"_ _3\"></span>s (2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. I<span class=\"_ _3\"></span>n 2021<span class=\"_ _3\"></span>, maj<span class=\"_ _3\"></span>or c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ex con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>he new fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span> China, Su<span class=\"_ _0\"></span>zhou, both<span class=\"_ _0\"></span> facility and<span class=\"_ _0\"></span> production rela<span class=\"_ _3\"></span>ted (2021: 8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2020: 3.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro). Othe<span class=\"_ _3\"></span>r fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d cap<span class=\"_ _3\"></span>ex i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are la<span class=\"_ _3\"></span>b in N<span class=\"_ _3\"></span>oid<span class=\"_ _3\"></span>a (1<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d he<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g, ve<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>irco inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Kor<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk a<span class=\"_ _3\"></span>nd D<span class=\"_ _3\"></span>ulu<span class=\"_ _3\"></span>th fa<span class=\"_ _3\"></span>cili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>.1 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro).In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e mach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd too<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g lin<span class=\"_ _3\"></span>ked to new p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts (<span class=\"_ _3\"></span>2022: 2 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2021: 2.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 3.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), I<span class=\"_ _3\"></span>T hard<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ware e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (<span class=\"_ _3\"></span>2022: 2.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: 2.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2020: 1.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and l<span class=\"_ _3\"></span>easi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ith cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s (2022: 3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).Th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xed as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t, rea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ized in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2015 \u2013 201<span class=\"_ _3\"></span>9, relates to th<span class=\"_ _3\"></span>e hea<span class=\"_ _3\"></span>dq<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>rs of Ba<span class=\"_ _3\"></span>rco and th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r 50 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro. T<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k valu<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>r 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 29.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro.Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ure for t<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s in 2022 e<span class=\"_ _3\"></span>qua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s the EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy e<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le C<span class=\"_ _3\"></span>apE<span class=\"_ _3\"></span>x as t<span class=\"_ _3\"></span>he tot<span class=\"_ _3\"></span>al am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of Ca<span class=\"_ _3\"></span>pE<span class=\"_ _3\"></span>X rel<span class=\"_ _3\"></span>ates so<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>ly to ass<span class=\"_ _3\"></span>ets o<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ciated w<span class=\"_ _3\"></span>ith Ba<span class=\"_ _3\"></span>rco econo<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed in s<span class=\"_ _3\"></span>ect<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n \u201cT<span class=\"_ _0\"></span>axonom<span class=\"_ _0\"></span>y-<span class=\"_ _3\"></span>eligible ec<span class=\"_ _0\"></span>onomic activi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y - T<span class=\"_ _2\"></span>urnov<span class=\"_ _0\"></span>er\u201d<span class=\"_ _0\"></span>.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>late to th<span class=\"_ _3\"></span>e sal<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e bui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng in No<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ad a n<span class=\"_ _3\"></span>et bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of 4.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>ls re<span class=\"_ _3\"></span>late to old m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y &amp; eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>rnit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten do<span class=\"_ _3\"></span>wn.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y relate to ol<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y &amp; equ<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d fur<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten dow<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le of p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he la<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>g in K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ruh<span class=\"_ _3\"></span>e.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 2020 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ate to the cl<span class=\"_ _3\"></span>osure o<span class=\"_ _3\"></span>f the T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>y, toget<span class=\"_ _3\"></span>her w<span class=\"_ _3\"></span>ith o<span class=\"_ _3\"></span>ld ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>se U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d hal<span class=\"_ _3\"></span>f of 2020 resulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f 5.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>lated to t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>chi<span class=\"_ _3\"></span>ner<span class=\"_ _1\"></span>y an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t (see n<span class=\"_ _3\"></span>ote 5 'Re<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'). Th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re was li<span class=\"_ _3\"></span>nked to the d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n to out<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rce the U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM pane<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>red th<span class=\"_ _3\"></span>e pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>co<span class=\"ls4 ws4\">-</span>no<span class=\"_ _3\"></span>mic i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the u<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s of it<span class=\"_ _3\"></span>s fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent of it<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>achi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is di<span class=\"_ _3\"></span>d not co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. See \u2018C<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accou<span class=\"_ _3\"></span>nt<span class=\"ls4 ws4\">-</span>ing j<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and ke<span class=\"_ _3\"></span>y sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic envir<span class=\"_ _0\"></span>onment on Bar<span class=\"_ _0\"></span>co\u2019<span class=\"_ _0\"></span>s operations.LeasesTh<span class=\"_ _3\"></span>is note p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>es m<span class=\"_ _3\"></span>ore info<span class=\"_ _3\"></span>rmat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n for leas<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up is a le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet sh<span class=\"_ _3\"></span>ows t<span class=\"_ _3\"></span>he fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g to le<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _256\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _ad\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _235\"> </span>2020</span>Buildings<span class=\"_ _1aa\"> </span>Ve<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _76\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _ad\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _10a\"> </span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1a4\"> </span>9,3<span class=\"_ _3\"></span>87<span class=\"_ _54\"> </span>46<span class=\"_ _3\"></span>,922<span class=\"_ _68\"> </span><span class=\"lsfe ws11b\">39,013<span class=\"_ _43\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _2\"></span>,965</span></span>Ne<span class=\"_ _3\"></span>w lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>r ex<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of cur<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _22a\"> </span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>9<span class=\"_ _76\"> </span>3,<span class=\"_ _3\"></span>387<span class=\"_ _43\"> </span>10,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,702<span class=\"_ _43\"> </span><span class=\"ls191 ws255\">11,000</span></span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _10b\"> </span>-<span class=\"_ _3\"></span>4,892<span class=\"_ _60\"> </span>-1<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>5<span class=\"_ _43\"> </span>-<span class=\"_ _3\"></span>6,586<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>03<span class=\"_ _43\"> </span><span class=\"ls3c ws48\">-8,<span class=\"_ _3\"></span>290</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _1cd\"> </span>-7<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>-<span class=\"_ _3\"></span>40<span class=\"_ _bb\"> </span>-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsf0 ws10d\">1,61<span class=\"_ _3\"></span>1<span class=\"_ _7b\"> </span><span class=\"lsed ws10a\">-1,663</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>40,1<span class=\"_ _0\"></span>64<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _40\"> </span>51,2<span class=\"_ _0\"></span>05<span class=\"_ _60\"> </span><span class=\"lsea ws107\">46,92<span class=\"_ _3\"></span>2<span class=\"_ _40\"> </span><span class=\"lsfe ws11b\">39,013</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _43\"> </span><span class=\"lsfc ws119\">-4,<span class=\"_ _3\"></span>439<span class=\"_ _10c\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _10\"> </span></span></span>-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>41<span class=\"_ _1\"></span>5<span class=\"_ _43\"> </span><span class=\"ls167 ws22d\">-9,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _257\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _255\"> </span>-2,604<span class=\"_ _70\"> </span>-<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span><span class=\"ls106 ws123\">-10,0<span class=\"_ _3\"></span>23<span class=\"_ _10c\"> </span>-10<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _258\"> </span>2,608<span class=\"_ _76\"> </span>1,533<span class=\"_ _62\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>141<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>56<span class=\"_ _8e\"> </span><span class=\"lsda wsf7\">5,3<span class=\"_ _3\"></span>72</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _9a\"> </span><span class=\"ls3c ws48\">123<span class=\"_ _22a\"> </span>23<span class=\"_ _7e\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _67\"> </span></span>-<span class=\"_ _3\"></span>636<span class=\"_ _67\"> </span><span class=\"ls10e ws12b\">495</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _191\"> </span>-20,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span><span class=\"lse3 ws100\">-5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87<span class=\"_ _151\"> </span></span>-26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _151\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5</span></span>Right<span class=\"_ _0\"></span>-of<span class=\"_ _0\"></span>-use assetsOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1d2\"> </span>20,855<span class=\"_ _100\"> </span>4,949<span class=\"_ _54\"> </span>25,803<span class=\"_ _60\"> </span><span class=\"ls167 ws22d\">24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>98<span class=\"_ _43\"> </span><span class=\"lsea ws107\">28,0<span class=\"_ _3\"></span>17</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>19,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>80<span class=\"_ _6c\"> </span>5<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"ls167 ws22d\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>83<span class=\"_ _3\"></span>4<span class=\"_ _7b\"> </span><span class=\"ls139 ws168\">25,803<span class=\"_ _8c\"> </span></span>24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>8</span>Ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>of-<span class=\"_ _3\"></span>use a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022 we<span class=\"_ _3\"></span>re 11 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro (2021: 10.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 11 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) sp<span class=\"_ _3\"></span>lit over lea<span class=\"_ _3\"></span>sed b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>gs (202<span class=\"_ _3\"></span>2: 7<span class=\"_ _2\"></span>.6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; 2021: 9 mill<span class=\"_ _3\"></span>ion euro) a<span class=\"_ _3\"></span>nd lea<span class=\"_ _3\"></span>sed ve<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>cles (202<span class=\"_ _3\"></span>2: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro; 2021: 1.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re bot<span class=\"_ _3\"></span>h ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>ls of e<span class=\"_ _3\"></span>xis<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>e agre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s as we<span class=\"_ _3\"></span>ll as n<span class=\"_ _3\"></span>ew lea<span class=\"_ _3\"></span>se ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n US, Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d Sou<span class=\"_ _3\"></span>th Korea ove<span class=\"_ _3\"></span>r a leas<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of res<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vely 2 ye<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, 3 ye<span class=\"_ _0\"></span>ars and 5 ye<span class=\"_ _0\"></span>ars.We refer to note 14 for mo<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent of p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing to le<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s:Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h out<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>low for le<span class=\"_ _3\"></span>ases i<span class=\"_ _3\"></span>n 2022 wa<span class=\"_ _3\"></span>s 9.2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro (2021: 9.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 1<span class=\"_ _0\"></span>0<span class=\"_ _3\"></span>.8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1bc\"> </span>31 DEC 2022<span class=\"_ _96\"> </span>31 DEC 202<span class=\"_ _3\"></span>1<span class=\"_ _e9\"> </span>31 DEC 2020Buildings<span class=\"_ _259\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _4a\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _4e\"> </span>-<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>4</span>Vehic<span class=\"_ _0\"></span>les<span class=\"_ _168\"> </span>-2,604<span class=\"_ _147\"> </span><span class=\"lsfe ws11b\">-2,433<span class=\"_ _89\"> </span><span class=\"lse0 wsfd\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>390</span></span>T<span class=\"_ _0\"></span>otal depreciat<span class=\"_ _0\"></span>ion charge of<span class=\"_ _0\"></span> right<span class=\"_ _0\"></span>-of-<span class=\"_ _0\"></span>use assets<span class=\"_ _ed\"> </span>-9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>9<span class=\"_ _148\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _98\"> </span>-10<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>nce cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>)<span class=\"_ _25a\"> </span>-1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _147\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>06<span class=\"_ _3\"></span>6<span class=\"_ _c1\"> </span><span class=\"ls191 ws255\">-1,<span class=\"_ _0\"></span>000</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _6f\"> </span>0<span class=\"_ _6c\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _100\"> </span><span class=\"ls103 ws120\">-<span class=\"_ _1\"></span>41</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f low<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at a<span class=\"_ _3\"></span>re no<span class=\"_ _3\"></span>t sh<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>ove as s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-te<span class=\"_ _3\"></span>rm l<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>es<span class=\"_ _d\"> </span>-1<span class=\"_ _3\"></span>9<span class=\"_ _71\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>24<span class=\"_ _71\"> </span><span class=\"lsf0 ws10d\">-26</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-93-8": {
   "value": "2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>entSa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.to defen<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ex<span class=\"_ _3\"></span>tend t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>t posi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r leve<span class=\"_ _3\"></span>l of in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2020 a<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>1 (-17% b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low pre covid le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>) as a resu<span class=\"_ _3\"></span>lt of me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n to ali<span class=\"_ _3\"></span>gn th<span class=\"_ _3\"></span>e ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rat<span class=\"_ _0\"></span>e with mark<span class=\"_ _0\"></span>et re<span class=\"_ _0\"></span>alities and c<span class=\"_ _0\"></span>ustomer demand, c<span class=\"_ _0\"></span>ould not<span class=\"_ _0\"></span> comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sate for t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>rgin l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng fro<span class=\"_ _3\"></span>m th<span class=\"_ _3\"></span>e lower topl<span class=\"_ _3\"></span>ine co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ared to pre cov<span class=\"_ _3\"></span>id leve<span class=\"_ _3\"></span>l, re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n an a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in of 2.4 % in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.3% i<span class=\"_ _3\"></span>n 2020.In 2022, EB<span class=\"_ _3\"></span>IT i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>s rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f a num<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res acros<span class=\"_ _3\"></span>s dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent cou<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd fu<span class=\"_ _3\"></span>nct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns in th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y keep<span class=\"_ _3\"></span>s la<span class=\"_ _3\"></span>ggi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>ntend<span class=\"_ _3\"></span>s to cond<span class=\"_ _3\"></span>uct a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c revi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>is bu<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it in 2023<span class=\"_ _3\"></span>, focus<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>.EBIT i<span class=\"_ _3\"></span>n 2021 in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d 6.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>cross di<span class=\"_ _3\"></span>f<span class=\"ls4 ws4\">-</span>ferent co<span class=\"_ _3\"></span>untr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. In 2020 res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of th<span class=\"_ _3\"></span>e T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se Uni<span class=\"_ _3\"></span>see L<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>uid Cr<span class=\"_ _1\"></span>yst<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule (LCM) prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y and to reorga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span> ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dem<span class=\"_ _3\"></span>ic (14.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro). For m<span class=\"_ _3\"></span>ore de<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng item<span class=\"_ _3\"></span>s we refer to no<span class=\"_ _3\"></span>te 5<span class=\"_ _0\"></span> 'Restructuring and i<span class=\"_ _0\"></span>mpairment'.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 30.<span class=\"_ _3\"></span>3 % of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021: 33%<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>olute n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rs is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by hi<span class=\"_ _3\"></span>gh i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, resumed<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y le<span class=\"_ _0\"></span>vels and investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s post<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>covid.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.In 2021<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were kep<span class=\"_ _3\"></span>t st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ver<span class=\"_ _3\"></span>sus 2020, a res<span class=\"_ _3\"></span>ult of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h sele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive inve<span class=\"_ _3\"></span>st<span class=\"ls4 ws4\">-</span>ments in r<span class=\"_ _0\"></span>esearc<span class=\"_ _0\"></span>h and devel<span class=\"_ _0\"></span>op<span class=\"_ _3\"></span>ment and<span class=\"_ _0\"></span> commerc<span class=\"_ _0\"></span>ialization<span class=\"_ _0\"></span> 3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1f7\"> </span>N<span class=\"_ _3\"></span>ote<span class=\"_ _d0\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _231\"> </span>9<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>143<span class=\"_ _1b0\"> </span><span class=\"lse3 ws100\">19,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>3<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>Depreciations and amor<span class=\"_ _3\"></span>tizations936<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _d2\"> </span><span class=\"lse3 ws100\">39,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _bc\"> </span><span class=\"lse7 ws104\">43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _232\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _e1\"> </span><span class=\"lsf1 ws10e\">58,509<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _3\"></span>,563</span></span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _233\"> </span>12<span class=\"_ _3\"></span>.0%<span class=\"_ _1fc\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"> </span>3<span class=\"_ _1\"></span>%<span class=\"_ _8d\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>%</span>Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d topl<span class=\"_ _3\"></span>ine a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns in 2022 resu<span class=\"_ _3\"></span>lted in an i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA ma<span class=\"_ _3\"></span>rgin by 4<span class=\"_ _3\"></span>.7 pe<span class=\"_ _3\"></span>r<span class=\"ws4\">-</span>centa<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>t 12<span class=\"_ _3\"></span>% in 2022 (+68 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro ab<span class=\"_ _3\"></span>ove las<span class=\"_ _3\"></span>t year), co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to an EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA marg<span class=\"_ _3\"></span>in of 7<span class=\"_ _0\"></span>.3% o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 7<span class=\"_ _3\"></span>% in 2020. In 2022 d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are 2.8 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2021<span class=\"_ _3\"></span>, exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d by fu<span class=\"_ _3\"></span>lly a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are an<span class=\"_ _3\"></span>d acq<span class=\"_ _3\"></span>uired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-how i<span class=\"_ _3\"></span>n 2022.Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tInd<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2022 d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>sed to 30<span class=\"_ _3\"></span>.3 % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es (2021: 3<span class=\"_ _3\"></span>3%<span class=\"_ _3\"></span>, 2020: 34.<span class=\"_ _3\"></span>5%). In ab<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ute num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>rs in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y hig<span class=\"_ _3\"></span>h inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt as a re<span class=\"_ _3\"></span>sult of resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d. Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 were i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h 2020, a resu<span class=\"_ _3\"></span>lt of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ted temporary work arrangemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and ec<span class=\"_ _0\"></span>onomic unemployment<span class=\"_ _0\"></span> measur<span class=\"_ _0\"></span>es for bo<span class=\"_ _0\"></span>th white<span class=\"_ _0\"></span> and blue c<span class=\"_ _0\"></span>ollars, while sustaining<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. Bo<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>1 and 2020, t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ve im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s pre covi<span class=\"_ _3\"></span>d was<span class=\"_ _3\"></span> hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e redu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s v<span class=\"_ _3\"></span>ia cost m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures coul<span class=\"_ _0\"></span>d compensa<span class=\"_ _0\"></span>te f<span class=\"_ _0\"></span>or<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(a<span class=\"_ _0\"></span>) Researc<span class=\"_ _0\"></span>h and dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re spre<span class=\"_ _3\"></span>ad ove<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as fo<span class=\"_ _3\"></span>llows:In 2<span class=\"_ _0\"></span>022 res<span class=\"_ _0\"></span>earch<span class=\"_ _0\"></span> and development e<span class=\"_ _0\"></span>xpenses repr<span class=\"_ _0\"></span>esent 11.4% of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>12.6% in 202<span class=\"_ _3\"></span>1; 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>3% in 2020). In abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te numb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses h<span class=\"_ _3\"></span>ave in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 120<span class=\"_ _3\"></span>.5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro. I<span class=\"_ _3\"></span>n 2020 and 202<span class=\"_ _3\"></span>1, t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te level of resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of cost conta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n as resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>se to the cov<span class=\"_ _3\"></span>id cris<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, h<span class=\"_ _3\"></span>owever, contin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct road<span class=\"_ _3\"></span>map to su<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy leadership<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>osit<span class=\"_ _0\"></span>ion.On<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e cost rel<span class=\"_ _3\"></span>ated to rese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>erefore in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le Op<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>. We refer to the <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy o<span class=\"_ _3\"></span>n p. 61</span><span class=\"ls2a ws5b\"> for<span class=\"_ _3\"></span> th<span class=\"_ _3\"></span>e </span>EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>x in 2022. (b) Sal<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rketin<span class=\"_ _3\"></span>g expe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>esIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1b4\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esT<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ear<span class=\"_ _3\"></span>ch &amp; d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,493<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>4%<span class=\"_ _108\"> </span><span class=\"lse6 ws103\">101<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>38<span class=\"_ _53\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span></span>10<span class=\"_ _3\"></span>2,610<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esSales and marketing expen<span class=\"_ _3\"></span>ses14<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _149\"> </span>1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5%<span class=\"_ _108\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>0<span class=\"_ _148\"> </span></span>14<span class=\"_ _3\"></span>.5%<span class=\"_ _1a0\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,329<span class=\"_ _148\"> </span><span class=\"ls4 ws4\">14<span class=\"_ _3\"></span>.6%</span></span>Sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>ing e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e all i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d to the s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n wh<span class=\"_ _3\"></span>ich are n<span class=\"_ _3\"></span>ot bi<span class=\"_ _3\"></span>lled a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a prod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t or se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce to the cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er as w<span class=\"_ _3\"></span>ell a<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to regional or<span class=\"_ _0\"></span> divisional market<span class=\"_ _0\"></span>ing activities. Sales and mark<span class=\"_ _0\"></span>eting exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 14.5% in 2021 an<span class=\"_ _3\"></span>d 2020. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bsol<span class=\"_ _3\"></span>ute increa<span class=\"_ _3\"></span>se in 202<span class=\"_ _3\"></span>2 is th<span class=\"_ _3\"></span>e result of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in h<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>count<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y l<span class=\"_ _3\"></span>evel resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d, e.g<span class=\"_ _3\"></span>. trave<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>, pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covid<span class=\"_ _3\"></span>. (c<span class=\"_ _0\"></span>) General and ad<span class=\"_ _0\"></span>ministra<span class=\"_ _0\"></span>tion expensesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esGenera<span class=\"_ _3\"></span>l and administration e<span class=\"_ _0\"></span>xp<span class=\"_ _3\"></span>enses5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _df\"> </span></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _f\"> </span>6.0%<span class=\"_ _18c\"> </span><span class=\"ls131 ws161\">50,<span class=\"_ _3\"></span>362<span class=\"_ _b9\"> </span><span class=\"lse0 wsfd\">6.<span class=\"_ _3\"></span>5%</span></span>Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l and a<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are at 5.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, dow<span class=\"_ _3\"></span>n 1 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>t vers<span class=\"_ _3\"></span>us prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>us year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h alm<span class=\"_ _3\"></span>ost 10 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, du<span class=\"_ _3\"></span>e to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he inf<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in Europ<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d Am<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>as on pe<span class=\"_ _3\"></span>rso<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her cos<span class=\"_ _3\"></span>t of recr<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as a resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s back to a n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span> level.In 2021 a<span class=\"_ _3\"></span>nd 2020 ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s were low<span class=\"_ _3\"></span>er as a a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he co<span class=\"_ _0\"></span>vid<span class=\"_ _3\"></span>-relat<span class=\"_ _0\"></span>ed measures<span class=\"_ _0\"></span> taken.Stead<span class=\"_ _3\"></span>y inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in I<span class=\"_ _3\"></span>T sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>rs h<span class=\"_ _3\"></span>ave led to IT cost<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>ons o<span class=\"_ _3\"></span>n SA<span class=\"_ _3\"></span>P ERP sy<span class=\"_ _3\"></span>stem) re<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span><span class=\"ws4\">-</span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jor p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of G<span class=\"_ _3\"></span>&amp;A expe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s (2022: 42%<span class=\"_ _3\"></span>, 2021: 47%<span class=\"_ _3\"></span>, 2020: 45%).(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2022 i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith 103 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro or 24<span class=\"_ _0\"></span>% comp<span class=\"_ _3\"></span>ared to 202<span class=\"_ _3\"></span>1 whi<span class=\"_ _3\"></span>ch is in li<span class=\"_ _3\"></span>ne w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d top li<span class=\"_ _3\"></span>ne (<span class=\"_ _0\"></span>+<span class=\"_ _0\"></span>32<span class=\"_ _3\"></span>%). Al<span class=\"_ _3\"></span>so, in 202<span class=\"_ _3\"></span>2 mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ces du<span class=\"_ _3\"></span>e to infl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al cos<span class=\"_ _3\"></span>t we see a rela<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of t<span class=\"_ _3\"></span>he gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin o<span class=\"_ _3\"></span>f 4 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2021 in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed as p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to 2020, imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt pr<span class=\"_ _3\"></span>ices l<span class=\"_ _3\"></span>inke<span class=\"_ _3\"></span>d to sup<span class=\"_ _3\"></span>ply s<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>tag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost in 202<span class=\"_ _3\"></span>1 was 5<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>an 2020, but s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l 46 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pre covi<span class=\"_ _3\"></span>d level a<span class=\"_ _3\"></span>s a result of t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y measur<span class=\"_ _0\"></span>es and exec<span class=\"_ _0\"></span>uted r<span class=\"_ _0\"></span>estructuring lay-offs In 2020 an<span class=\"_ _3\"></span>d 2021 th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o ent<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ed sh<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>ann<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>terns o<span class=\"_ _3\"></span>n se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d a sus<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d str<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t disci<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>n dis<span class=\"_ _3\"></span>cretio<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y sp<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (e.g. t<span class=\"_ _3\"></span>rave<span class=\"_ _3\"></span>l, m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g spe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, cons<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>,\u2026 )<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any ma<span class=\"_ _3\"></span>de de<span class=\"_ _3\"></span>lib<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ate cho<span class=\"_ _3\"></span>ices on t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd ti<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le of se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted i<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in fu<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e focus s<span class=\"_ _3\"></span>hif<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is ha<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>lted in 8 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2020: 32.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro) lower s<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>vice<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce in 2022 a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n ser<span class=\"_ _1\"></span>vices a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r co<span class=\"_ _0\"></span>st<span class=\"_ _3\"></span>s, toget<span class=\"_ _0\"></span>her with higher i<span class=\"_ _0\"></span>nflation and c<span class=\"_ _0\"></span>ontractors hir<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> fi<span class=\"_ _3\"></span>ll temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y g<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r recr<span class=\"_ _3\"></span>uiti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.(see <span class=\"_ _3\"></span><span class=\"fc2 lsf ws38\">note<span class=\"_ _0\"></span> 5. Restructuring and impairments<span class=\"_ _0\"></span><span class=\"fc0 ls2d ws1a\">) to a<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s </span></span>wit<span class=\"_ _3\"></span>h lower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d as a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny ha<span class=\"_ _3\"></span>s implement<span class=\"_ _0\"></span>ed temporary work arr<span class=\"_ _0\"></span>angem<span class=\"_ _3\"></span>ents and ec<span class=\"_ _0\"></span>onomic un<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s as of 2020 for b<span class=\"_ _3\"></span>oth w<span class=\"_ _3\"></span>hite an<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>lue coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in con<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h count<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l fr<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>wor<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulations. Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020 ca<span class=\"_ _3\"></span>n be ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed by re<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ced une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures<span class=\"_ _3\"></span>, low<span class=\"_ _3\"></span>er wa<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>die<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>ved a<span class=\"_ _3\"></span>nd me<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>s (se<span class=\"_ _3\"></span>e \u2018Re<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t for f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l yea<span class=\"_ _3\"></span>r 2021\u2019 in corporat<span class=\"_ _0\"></span>e gov<span class=\"_ _0\"></span>ernance chap<span class=\"_ _0\"></span>ter)<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to ap<span class=\"_ _3\"></span>ply fo<span class=\"_ _3\"></span>r wag<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the ena<span class=\"_ _3\"></span>cted Co<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>-19 re<span class=\"_ _3\"></span>lief le<span class=\"_ _3\"></span>gis<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n APAC and C<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>da for 0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (2020: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, the<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>so i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g Cinionic<span class=\"_ _0\"></span> US)<span class=\"_ _0\"></span>.Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost i<span class=\"_ _3\"></span>n 2022 is 4<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>han 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, as a resu<span class=\"_ _3\"></span>lt of in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n and h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco\u2019s ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y r<span class=\"_ _3\"></span>ate is incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g ag<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d we saw an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of f<span class=\"_ _3\"></span>ull<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster of 202<span class=\"_ _3\"></span>2, an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y personnel compar<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> 2021.a) Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>nel c<span class=\"_ _3\"></span>ostIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Wages<span class=\"_ _0\"></span> and salaries<span class=\"_ _ac\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1ef\"> </span><span class=\"ls106 ws123\">-194,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>51<span class=\"_ _ae\"> </span><span class=\"lsfb ws118\">-189,654</span></span>So<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _f6\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _150\"> </span><span class=\"lsf0 ws10d\">-26<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>42<span class=\"_ _144\"> </span><span class=\"lsfe ws11b\">-25,494</span></span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e for d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _23b\"> </span>-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>859<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>339</span>T<span class=\"_ _0\"></span>emporary labour<span class=\"_ _23c\"> </span>-<span class=\"_ _3\"></span>4,004<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>61<span class=\"_ _90\"> </span><span class=\"lsed ws10a\">-2,388</span></span>Recruiting expenses<span class=\"_ _1b8\"> </span>-2,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span>-1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>52</span>Other personnel c<span class=\"_ _0\"></span>ost<span class=\"_ _23d\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>8<span class=\"_ _cb\"> </span><span class=\"lsf5 ws112\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,301<span class=\"_ _cb\"> </span><span class=\"lsed ws10a\">-2,<span class=\"_ _0\"></span>966</span></span>Personnel cost<span class=\"_ _23c\"> </span>-2<span class=\"_ _0\"></span>89,308<span class=\"_ _8d\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>03<span class=\"_ _8d\"> </span>-2<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2</span>Personnel c<span class=\"_ _0\"></span>ost incl<span class=\"_ _0\"></span>udes the co<span class=\"_ _0\"></span>st for t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y personnel for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 4 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (in 202<span class=\"_ _3\"></span>1: 1.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, i<span class=\"_ _3\"></span>n 2020: 2.4 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro). 5. Restructuring and impairment costsTh<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>.A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23e\"> </span>Note<span class=\"_ _7e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _de\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>20</span>Restructuring (cash)<span class=\"_ _1c4\"> </span>19<span class=\"_ _11\"> </span>-2,50<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,920<span class=\"_ _de\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1</span></span>Impairments (non-<span class=\"_ _3\"></span>cash)<span class=\"_ _228\"> </span>-<span class=\"_ _73\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0<span class=\"_ _81\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>2</span></span>T<span class=\"_ _0\"></span>otal rest<span class=\"_ _0\"></span>ructuring and i<span class=\"_ _0\"></span>mpairments<span class=\"_ _23f\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6,420<span class=\"_ _235\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3</span></span>6. Income taxes(a) T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>x posi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>, as we<span class=\"_ _3\"></span>ll as h<span class=\"_ _3\"></span>ow the t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies m<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke the<span class=\"_ _3\"></span>ir exa<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and<span class=\"_ _3\"></span> how is<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>at mig<span class=\"_ _3\"></span>ht ar<span class=\"_ _3\"></span>ise f<span class=\"_ _3\"></span>rom exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be reso<span class=\"_ _3\"></span>lved<span class=\"_ _3\"></span>, are revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d. Ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n thi<span class=\"_ _3\"></span>s ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is de<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d in l<span class=\"_ _3\"></span>ine w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>FRIC 2<span class=\"_ _3\"></span>3. A reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al on th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _1\"></span>y is take<span class=\"_ _3\"></span>n wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>x pos<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n is n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r in pl<span class=\"_ _3\"></span>ace as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f an occu<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>xpi<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d.(b) Inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>thh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g taxe<span class=\"_ _3\"></span>s on d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d tax imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of intr<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>roup d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds t<span class=\"_ _3\"></span>hat d<span class=\"_ _3\"></span>id no<span class=\"_ _3\"></span>t app<span class=\"_ _3\"></span>ly for a d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nd rece<span class=\"_ _3\"></span>ived e<span class=\"_ _3\"></span>xem<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n reg<span class=\"_ _3\"></span>ime to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r fu<span class=\"_ _3\"></span>ll ex<span class=\"_ _3\"></span>tent.(c) Defer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s not re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized on t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s/<span class=\"_ _0\"></span>cre<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>s or ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es/credit<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ward w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sme<span class=\"_ _3\"></span>nt sh<span class=\"_ _3\"></span>ows it<span class=\"_ _3\"></span> is not p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the<span class=\"_ _3\"></span>se t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s c<span class=\"_ _3\"></span>an b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e nea<span class=\"_ _3\"></span>r fut<span class=\"_ _3\"></span>ure, in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 mai<span class=\"_ _3\"></span>nly i<span class=\"_ _3\"></span>n Barco NV (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>lgiu<span class=\"_ _3\"></span>m). Referen<span class=\"_ _3\"></span>ce is ma<span class=\"_ _3\"></span>de to no<span class=\"_ _3\"></span>te 10. In 2020, this a<span class=\"_ _3\"></span>lso re<span class=\"_ _3\"></span>lated to an im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>et up in re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to<span class=\"_ _0\"></span> tax losses carried<span class=\"_ _0\"></span> for<span class=\"_ _3\"></span>ward<span class=\"_ _0\"></span> in Barc<span class=\"_ _0\"></span>o T<span class=\"_ _2\"></span>aiwan T<span class=\"_ _2\"></span>echnology Ltd., lin<span class=\"_ _3\"></span>ked to th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to close t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>te the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.(d) Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al los<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dat<span class=\"_ _3\"></span>ion of B<span class=\"_ _3\"></span>arco T<span class=\"_ _0\"></span>aiw<span class=\"_ _3\"></span>an T<span class=\"_ _0\"></span>echn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Ltd. in 2021<span class=\"_ _3\"></span>. In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cc\"> </span>Note<span class=\"_ _73\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _ad\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _65\"> </span>2020</span>Current versus deferred incom<span class=\"_ _3\"></span>e taxesCur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _1b6\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>01<span class=\"_ _8e\"> </span><span class=\"lse9 ws106\">-5<span class=\"_ _3\"></span>,333<span class=\"_ _68\"> </span><span class=\"ls36 ws40\">-6,886</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _240\"> </span>10<span class=\"_ _8e\"> </span>-2,6<span class=\"_ _3\"></span>26<span class=\"_ _73\"> </span><span class=\"ls138 ws167\">3<span class=\"_ _3\"></span>,201<span class=\"_ _6a\"> </span><span class=\"ls36 ws40\">6,886</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _227\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,927<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-2,<span class=\"_ _3\"></span>132<span class=\"_ _1ef\"> </span></span>-In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes ve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>us i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>sEBI<span class=\"_ _3\"></span>T<span class=\"_ _241\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _8e\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>53<span class=\"_ _8e\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>4,332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _1ee\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>10<span class=\"_ _bc\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>fore t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _242\"> </span><span class=\"lsfe ws11b\">88,4<span class=\"_ _3\"></span>86<span class=\"_ _1a4\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _8e\"> </span></span>-<span class=\"_ _3\"></span>4,453</span>Income taxes<span class=\"_ _243\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _218\"> </span><span class=\"ls4 ws4\">-</span></span>Ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ra<span class=\"_ _3\"></span>te<span class=\"_ _f7\"> </span>%<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>8.0%<span class=\"_ _11\"> </span>18.0%<span class=\"_ _78\"> </span>0.<span class=\"_ _3\"></span>0%</span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>fore t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _242\"> </span><span class=\"lsfe ws11b\">88,4<span class=\"_ _3\"></span>86<span class=\"_ _1a4\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _8e\"> </span></span>-<span class=\"_ _3\"></span>4,453</span>Theoretical<span class=\"_ _0\"></span> tax rat<span class=\"_ _0\"></span>e<span class=\"_ _244\"> </span>%<span class=\"_ _b0\"> </span><span class=\"ls106 ws123\">25%<span class=\"_ _b0\"> </span>2<span class=\"_ _3\"></span>5%<span class=\"_ _b0\"> </span>25%</span>Th<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>ret<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>ax cr<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>it/(co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>)<span class=\"_ _6b\"> </span>-<span class=\"_ _0\"></span>22,122<span class=\"_ _235\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>1<span class=\"_ _16b\"> </span><span class=\"ls109 ws126\">1,11<span class=\"_ _3\"></span>3</span></span>Innovation income deduction (IID)<span class=\"_ _1f9\"> </span>6,<span class=\"_ _3\"></span>518<span class=\"_ _73\"> </span><span class=\"lsf7 ws114\">5,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _65\"> </span><span class=\"ls138 ws167\">5,<span class=\"_ _3\"></span>302</span></span>Ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of di<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nt t<span class=\"_ _3\"></span>ax r<span class=\"_ _3\"></span>ates i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>lg<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ates<span class=\"_ _245\"> </span>-523<span class=\"_ _be\"> </span><span class=\"ls139 ws168\">546<span class=\"_ _b0\"> </span><span class=\"ls109 ws126\">968</span></span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x tre<span class=\"_ _3\"></span>atm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t <span class=\"_ _f3\"> </span>(a)<span class=\"_ _d0\"> </span>60<span class=\"_ _b0\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _65\"> </span><span class=\"lsda wsf7\">1,840</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>t ta<span class=\"_ _3\"></span>xed   Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e exe<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>t fro<span class=\"_ _3\"></span>m ta<span class=\"_ _3\"></span>x (ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly g<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt gr<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ts)<span class=\"_ _19c\"> </span>2,758<span class=\"_ _ad\"> </span><span class=\"lse0 wsfd\">1,706<span class=\"_ _bb\"> </span><span class=\"lsdc wsf9\">2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>141</span></span>Non deductibl<span class=\"_ _0\"></span>e expenses   Dividends r<span class=\"_ _0\"></span>eceived <span class=\"_ _204\"> </span>(b)<span class=\"_ _22a\"> </span>-90<span class=\"_ _de\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>319<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>4,265</span></span>   Other non-deductible expen<span class=\"_ _0\"></span>ses<span class=\"_ _246\"> </span>-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">-2,038<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-2<span class=\"_ _3\"></span>,042</span></span>T<span class=\"_ _0\"></span>ax a<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts r<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ated to p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds<span class=\"_ _1bb\"> </span>-<span class=\"_ _0\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _e1\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>5<span class=\"_ _73\"> </span><span class=\"ls138 ws167\">1<span class=\"_ _3\"></span>,029</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized in c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent y<span class=\"_ _3\"></span>ear<span class=\"_ _184\"> </span>(c)<span class=\"_ _67\"> </span>-<span class=\"_ _3\"></span>420<span class=\"_ _76\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>6,895</span></span>Set-<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>p/use o<span class=\"_ _3\"></span>f def<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, n<span class=\"_ _3\"></span>ot re<span class=\"_ _3\"></span>cog<span class=\"_ _3\"></span>nize<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s<span class=\"_ _247\"> </span>357<span class=\"_ _d2\"> </span><span class=\"lse9 ws106\">533<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">809</span></span>Rea<span class=\"_ _3\"></span>lize<span class=\"_ _3\"></span>d ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l los<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ates<span class=\"_ _a1\"> </span><span class=\"ls10e ws12b\">(d)<span class=\"_ _1ef\"> </span></span>-<span class=\"_ _11\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>,439<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>xes re<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ated to c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t inc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>e tax<span class=\"_ _3\"></span>es<span class=\"_ _248\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _218\"> </span></span>-9<span class=\"_ _0\"></span>.1 Other intangible assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _251\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _cc\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>2020</span>Other Intangible <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>Cust<span class=\"_ _0\"></span>omer<span class=\"ls4 ws4\"> </span>Other as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r <span class=\"_ _21\"></span> Sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wareRelations<span class=\"_ _89\"> </span><span class=\"lsd3 wsc6\">K<span class=\"_ _3\"></span>now-how</span>Intangible Assetsconstructi<span class=\"_ _0\"></span>on<span class=\"_ _22a\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>24<span class=\"_ _cf\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _22a\"> </span></span></span>9,90<span class=\"_ _3\"></span>7<span class=\"_ _90\"> </span></span>-<span class=\"_ _6a\"> </span>136<span class=\"_ _3\"></span>,578<span class=\"_ _76\"> </span><span class=\"ls108 ws125\">134,6<span class=\"_ _0\"></span>08<span class=\"_ _6a\"> </span><span class=\"ls42 ws6f\">1<span class=\"_ _3\"></span>57<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250</span></span>Expenditure<span class=\"_ _1f7\"> </span>489<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,733<span class=\"_ _cb\"> </span></span>-<span class=\"_ _c0\"> </span>1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>14<span class=\"_ _d2\"> </span>3,836<span class=\"_ _1b0\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>230<span class=\"_ _101\"> </span><span class=\"lsdd wsfa\">1,9<span class=\"_ _3\"></span>51</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _81\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>8,0<span class=\"_ _3\"></span>64</span></span>Acquisi<span class=\"_ _0\"></span>tion of sub<span class=\"_ _0\"></span>sidiaries<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-</span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a6\"> </span>1,552<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>552<span class=\"_ _cb\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _91\"> </span>600<span class=\"_ _8f\"> </span>147<span class=\"_ _8f\"> </span>-23<span class=\"_ _144\"> </span>-5<span class=\"_ _90\"> </span>-<span class=\"_ _8d\"> </span>719<span class=\"_ _d2\"> </span><span class=\"lsfb ws118\">4,052<span class=\"_ _73\"> </span><span class=\"lsf4 ws111\">-16,<span class=\"_ _3\"></span>529</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _107\"> </span>65,998<span class=\"_ _be\"> </span>9,<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>8<span class=\"_ _bb\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>5<span class=\"_ _3\"></span>,20<span class=\"_ _3\"></span>0<span class=\"_ _1ef\"> </span>62<span class=\"_ _1a4\"> </span>128<span class=\"_ _3\"></span>,64<span class=\"_ _3\"></span>6<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>36,<span class=\"_ _3\"></span>578<span class=\"_ _1a4\"> </span>13<span class=\"_ _3\"></span>4,608</span>Amortizations and<span class=\"_ _0\"></span> impairmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _ab\"> </span>48,<span class=\"_ _3\"></span>709<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _67\"> </span></span>45,702<span class=\"_ _cc\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _cb\"> </span></span>-<span class=\"_ _ad\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _62\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>55<span class=\"_ _ad\"> </span><span class=\"lsea ws107\">11<span class=\"_ _3\"></span>2,781</span></span>Amor<span class=\"_ _3\"></span>tization<span class=\"_ _123\"> </span>6,3<span class=\"_ _3\"></span>75<span class=\"_ _90\"> </span>-<span class=\"_ _d2\"> </span>3,602<span class=\"_ _49\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _90\"> </span></span>-<span class=\"_ _67\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsfb ws118\">13,0<span class=\"_ _3\"></span>95<span class=\"_ _bb\"> </span><span class=\"lsed ws10a\">13,<span class=\"_ _3\"></span>388</span></span>Impairment<span class=\"_ _1ae\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>500</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _bc\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>3</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _21c\"> </span>23<span class=\"_ _8f\"> </span>147<span class=\"_ _8d\"> </span>159<span class=\"_ _ae\"> </span>-27<span class=\"_ _cb\"> </span>-<span class=\"_ _b\"> </span>302<span class=\"_ _c0\"> </span><span class=\"lsfb ws118\">3,713<span class=\"_ _ad\"> </span><span class=\"lsf4 ws111\">-16,0<span class=\"_ _3\"></span>61</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1d7\"> </span>5<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>703<span class=\"_ _d2\"> </span>9,8<span class=\"_ _3\"></span>18<span class=\"_ _81\"> </span>39,928<span class=\"_ _bc\"> </span><span class=\"ls84 ws9f\">4,946<span class=\"_ _b3\"> </span></span>-<span class=\"_ _8e\"> </span><span class=\"lse7 ws104\">109,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>96<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _63\"> </span><span class=\"lse6 ws103\">105<span class=\"_ _3\"></span>,655</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19f\"> </span><span class=\"ls131 ws161\">15,053<span class=\"_ _39\"> </span></span>-<span class=\"_ _b0\"> </span>2,084<span class=\"_ _d6\"> </span><span class=\"lse9 ws106\">290<span class=\"_ _39\"> </span></span>-<span class=\"_ _7e\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7<span class=\"_ _bb\"> </span><span class=\"lsea ws107\">28,9<span class=\"_ _3\"></span>52<span class=\"_ _73\"> </span><span class=\"lsee ws10b\">4<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>69</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _19c\"> </span><span class=\"ls19a ws26f\">11,296<span class=\"_ _39\"> </span></span>-<span class=\"_ _be\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _8d\"> </span><span class=\"ls89 wsa4\">253<span class=\"_ _1ef\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _78\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>251<span class=\"_ _7e\"> </span></span></span></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _81\"> </span><span class=\"lsea ws107\">28<span class=\"_ _3\"></span>,952</span></span>A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e Gn<span class=\"_ _3\"></span>osco a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how fo<span class=\"_ _3\"></span>r an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 7<span class=\"_ _2\"></span>.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro wa<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch is am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over 5 year<span class=\"_ _3\"></span>s. We refer to n<span class=\"_ _3\"></span>ote 1.<span class=\"_ _3\"></span>3 for m<span class=\"_ _3\"></span>ore e<span class=\"_ _3\"></span>xpl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n on t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et assets<span class=\"_ _0\"></span> acquired.<span class=\"_ _0\"></span> Barco\u2019s int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de S<span class=\"_ _3\"></span>AP ERP so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware a<span class=\"_ _3\"></span>nd rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how. In 2022, c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 2.1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2021: 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s in 2022 an<span class=\"_ _3\"></span>d 2021 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to ne<span class=\"_ _3\"></span>w custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span> relation<span class=\"_ _0\"></span>ship management (C<span class=\"_ _0\"></span>RM) software. Expenditur<span class=\"_ _0\"></span>es in 2020 were ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly rela<span class=\"_ _3\"></span>ted to SAP ER<span class=\"_ _3\"></span>P sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re lice<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 rel<span class=\"_ _3\"></span>ate to ful<span class=\"_ _3\"></span>ly am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized IT so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware<span class=\"_ _3\"></span> whi<span class=\"_ _3\"></span>ch is no l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r use<span class=\"_ _3\"></span>d.In 2020 th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t on acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>sulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of 3.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro on th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d kno<span class=\"_ _3\"></span>w-how fo<span class=\"_ _3\"></span>r care<span class=\"_ _3\"></span>sy<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>x.Th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent cos<span class=\"_ _3\"></span>t is in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt expenses in 20<span class=\"_ _0\"></span>20.Th<span class=\"_ _3\"></span>e grou<span class=\"_ _3\"></span>p pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t revie<span class=\"_ _3\"></span>w on acqu<span class=\"_ _3\"></span>ired i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he fou<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>th q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter o<span class=\"_ _3\"></span>f 2022 cons<span class=\"_ _3\"></span>istent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or yea<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>l at<span class=\"_ _3\"></span>tenti<span class=\"_ _3\"></span>on w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>id to th<span class=\"_ _3\"></span>e potent<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pacts of<span class=\"_ _0\"></span> the macr<span class=\"_ _0\"></span>oeconomic e<span class=\"_ _0\"></span>nvironment.<span class=\"_ _0\"></span> The test<span class=\"_ _0\"></span> concluded<span class=\"_ _0\"></span> no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Barco do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot ho<span class=\"_ _3\"></span>ld in<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>ith in<span class=\"_ _3\"></span>def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ite lifeti<span class=\"_ _3\"></span>me.9<span class=\"_ _0\"></span>.2. T<span class=\"_ _0\"></span>angible fixed assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _253\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _63\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Furniture,<span class=\"_ _0\"></span> Pl<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>, of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>OtherLa<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y and eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt  pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ty, pl<span class=\"_ _3\"></span>ant A<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al O<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r buildingsequi<span class=\"_ _3\"></span>pmentand vehicl<span class=\"_ _0\"></span>esand equipmentconstructi<span class=\"_ _0\"></span>ontangible assets<span class=\"_ _8e\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _7b\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19e\"> </span>138,155<span class=\"_ _43\"> </span><span class=\"ls19c ws271\">8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>6<span class=\"_ _4\"> </span>4<span class=\"_ _6e\"> </span><span class=\"lsed ws10a\">42,217<span class=\"_ _43\"> </span><span class=\"ls109 ws126\">12,586<span class=\"_ _1a4\"> </span><span class=\"lsda wsf7\">3,794<span class=\"_ _178\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>62<span class=\"_ _178\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _151\"> </span></span></span></span></span></span>2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4e\"> </span><span class=\"lsdd wsfa\">276<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>2</span></span>Expenditure*<span class=\"_ _254\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>39<span class=\"_ _6c\"> </span><span class=\"lsf0 ws10d\">6<span class=\"_ _3\"></span>,429<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">1,099<span class=\"_ _76\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _40\"> </span></span>22,383<span class=\"_ _54\"> </span><span class=\"ls138 ws167\">30,020<span class=\"_ _43\"> </span></span></span></span></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _ff\"> </span><span class=\"lsde wsfb\">26,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _109\"> </span>-14<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span>-6<span class=\"_ _3\"></span>,790<span class=\"_ _70\"> </span>-4,<span class=\"_ _3\"></span>822<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _8d\"> </span></span>-<span class=\"_ _10c\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>95<span class=\"_ _178\"> </span>-28,<span class=\"_ _3\"></span>03<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,614<span class=\"_ _3d\"> </span><span class=\"lse7 ws104\">-29,8<span class=\"_ _3\"></span>47</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a5\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">2,533<span class=\"_ _67\"> </span><span class=\"lsfe ws11b\">3<span class=\"_ _3\"></span>45<span class=\"_ _76\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,936<span class=\"_ _10\"> </span></span>-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>082<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _8d\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>227<span class=\"_ _73\"> </span>-9<span class=\"_ _3\"></span>81<span class=\"_ _de\"> </span>-83<span class=\"_ _16b\"> </span>-1<span class=\"_ _1\"></span>24<span class=\"_ _7e\"> </span>-9<span class=\"_ _3\"></span>0<span class=\"_ _71\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>27<span class=\"_ _1\"></span>7<span class=\"_ _6e\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>50<span class=\"_ _235\"> </span><span class=\"lsea ws107\">6<span class=\"_ _3\"></span>,786<span class=\"_ _ff\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>3</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>32,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _40\"> </span><span class=\"ls3c ws48\">87<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>566<span class=\"_ _10c\"> </span><span class=\"ls109 ws126\">4<span class=\"_ _3\"></span>4,086<span class=\"_ _40\"> </span><span class=\"ls190 ws254\">13,813<span class=\"_ _6c\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"ls10e ws12b\">15<span class=\"_ _3\"></span>2,70<span class=\"_ _3\"></span>4<span class=\"_ _46\"> </span><span class=\"lsea ws107\">285,<span class=\"_ _3\"></span>253<span class=\"_ _3a\"> </span></span></span></span></span></span>284,317<span class=\"_ _52\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _126\"> </span>59,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>3<span class=\"_ _10\"> </span>57<span class=\"_ _0\"></span>,850<span class=\"_ _10\"> </span>3<span class=\"_ _3\"></span>0,187<span class=\"_ _68\"> </span>9,8<span class=\"_ _3\"></span>40<span class=\"_ _8d\"> </span>-<span class=\"_ _70\"> </span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _ff\"> </span>1<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _178\"> </span><span class=\"lsed ws10a\">14<span class=\"_ _0\"></span>3,630<span class=\"_ _3d\"> </span><span class=\"lsdc wsf9\">141,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>93</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _123\"> </span>11,2<span class=\"_ _0\"></span>42<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _76\"> </span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>39<span class=\"_ _235\"> </span>1,0<span class=\"_ _3\"></span>68<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span></span>1<span class=\"_ _3\"></span>5,052<span class=\"_ _94\"> </span><span class=\"lsf0 ws10d\">26,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"ls103 ws120\">26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _4b\"> </span></span>26<span class=\"_ _3\"></span>,495</span>Impairment<span class=\"_ _1b5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _60\"> </span><span class=\"lsfb ws118\">5,757</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _2d\"> </span>-<span class=\"_ _3\"></span>8,135<span class=\"_ _7b\"> </span>-<span class=\"_ _1\"></span>6,<span class=\"_ _3\"></span>731<span class=\"_ _255\"> </span>-4,<span class=\"_ _3\"></span>589<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _1fc\"> </span></span>-<span class=\"_ _151\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>02<span class=\"_ _54\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span></span>-1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>787<span class=\"_ _50\"> </span><span class=\"lsf0 ws10d\">-26,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _159\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"ls109 ws126\">22<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _de\"> </span><span class=\"ls42 ws6f\">-50<span class=\"_ _1fc\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>212<span class=\"_ _65\"> </span>-2<span class=\"_ _3\"></span>34<span class=\"_ _b0\"> </span>-75<span class=\"_ _e1\"> </span><span class=\"lsda wsf7\">-94<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">-4<span class=\"_ _3\"></span>03<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-191<span class=\"_ _6c\"> </span></span></span></span>3,<span class=\"_ _3\"></span>546<span class=\"_ _10c\"> </span><span class=\"ls4 ws4\">-3<span class=\"_ _3\"></span>,669</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _31\"> </span>62,872<span class=\"_ _43\"> </span>58,<span class=\"_ _3\"></span>751<span class=\"_ _94\"> </span>31<span class=\"_ _3\"></span>,690<span class=\"_ _68\"> </span><span class=\"lse7 ws104\">9,0<span class=\"_ _3\"></span>82<span class=\"_ _b\"> </span></span>-<span class=\"_ _94\"> </span>9<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>23<span class=\"_ _36\"> </span>162<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>96<span class=\"_ _1a8\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1aa\"> </span><span class=\"lsfc ws119\">143<span class=\"_ _3\"></span>,63<span class=\"_ _3\"></span>0</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _11b\"> </span>78,6<span class=\"_ _3\"></span>02<span class=\"_ _43\"> </span>2<span class=\"_ _3\"></span>9,71<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>031<span class=\"_ _235\"> </span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span>3,79<span class=\"_ _3\"></span>4<span class=\"_ _9c\"> </span>48<span class=\"_ _3\"></span>,28<span class=\"_ _3\"></span>5<span class=\"_ _46\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>,88<span class=\"_ _3\"></span>7<span class=\"_ _3a\"> </span><span class=\"ls36 ws40\">123,47<span class=\"_ _0\"></span>4<span class=\"_ _fe\"> </span><span class=\"lsee ws10b\">13<span class=\"_ _3\"></span>5,469</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b3\"> </span>69,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>7<span class=\"_ _40\"> </span>28,815<span class=\"_ _54\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>396<span class=\"_ _8e\"> </span>4,7<span class=\"_ _3\"></span>31<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _70\"> </span>53,181<span class=\"_ _36\"> </span>122,856<span class=\"_ _3d\"> </span><span class=\"ls10e ws12b\">126<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>86<span class=\"_ _52\"> </span><span class=\"ls36 ws40\">123,473</span></span>(*) E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns fo<span class=\"_ _3\"></span>r IF<span class=\"_ _3\"></span>RS16<span class=\"_ _3\"></span>. Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ndit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in 2022<span class=\"_ _3\"></span>, exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g the<span class=\"_ _3\"></span> imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of IFRS<span class=\"_ _3\"></span>16, am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 19 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in 2022 con<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>urch<span class=\"_ _3\"></span>ase of l<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>w fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n Chin<span class=\"_ _3\"></span>a, Wux<span class=\"_ _3\"></span>i (4 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d rene<span class=\"_ _3\"></span>wal o<span class=\"_ _3\"></span>f dem<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce center<span class=\"_ _3\"></span>s (2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. I<span class=\"_ _3\"></span>n 2021<span class=\"_ _3\"></span>, maj<span class=\"_ _3\"></span>or c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ex con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>he new fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span> China, Su<span class=\"_ _0\"></span>zhou, both<span class=\"_ _0\"></span> facility and<span class=\"_ _0\"></span> production rela<span class=\"_ _3\"></span>ted (2021: 8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2020: 3.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro). Othe<span class=\"_ _3\"></span>r fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d cap<span class=\"_ _3\"></span>ex i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are la<span class=\"_ _3\"></span>b in N<span class=\"_ _3\"></span>oid<span class=\"_ _3\"></span>a (1<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d he<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g, ve<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>irco inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Kor<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk a<span class=\"_ _3\"></span>nd D<span class=\"_ _3\"></span>ulu<span class=\"_ _3\"></span>th fa<span class=\"_ _3\"></span>cili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>.1 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro).In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e mach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd too<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g lin<span class=\"_ _3\"></span>ked to new p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts (<span class=\"_ _3\"></span>2022: 2 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2021: 2.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 3.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), I<span class=\"_ _3\"></span>T hard<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ware e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (<span class=\"_ _3\"></span>2022: 2.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: 2.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2020: 1.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and l<span class=\"_ _3\"></span>easi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ith cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s (2022: 3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).Th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xed as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t, rea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ized in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2015 \u2013 201<span class=\"_ _3\"></span>9, relates to th<span class=\"_ _3\"></span>e hea<span class=\"_ _3\"></span>dq<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>rs of Ba<span class=\"_ _3\"></span>rco and th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r 50 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro. T<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k valu<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>r 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 29.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro.Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ure for t<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s in 2022 e<span class=\"_ _3\"></span>qua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s the EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy e<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le C<span class=\"_ _3\"></span>apE<span class=\"_ _3\"></span>x as t<span class=\"_ _3\"></span>he tot<span class=\"_ _3\"></span>al am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of Ca<span class=\"_ _3\"></span>pE<span class=\"_ _3\"></span>X rel<span class=\"_ _3\"></span>ates so<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>ly to ass<span class=\"_ _3\"></span>ets o<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ciated w<span class=\"_ _3\"></span>ith Ba<span class=\"_ _3\"></span>rco econo<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed in s<span class=\"_ _3\"></span>ect<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n \u201cT<span class=\"_ _0\"></span>axonom<span class=\"_ _0\"></span>y-<span class=\"_ _3\"></span>eligible ec<span class=\"_ _0\"></span>onomic activi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y - T<span class=\"_ _2\"></span>urnov<span class=\"_ _0\"></span>er\u201d<span class=\"_ _0\"></span>.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>late to th<span class=\"_ _3\"></span>e sal<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e bui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng in No<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ad a n<span class=\"_ _3\"></span>et bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of 4.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>ls re<span class=\"_ _3\"></span>late to old m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y &amp; eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>rnit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten do<span class=\"_ _3\"></span>wn.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y relate to ol<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y &amp; equ<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d fur<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten dow<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le of p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he la<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>g in K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ruh<span class=\"_ _3\"></span>e.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 2020 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ate to the cl<span class=\"_ _3\"></span>osure o<span class=\"_ _3\"></span>f the T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>y, toget<span class=\"_ _3\"></span>her w<span class=\"_ _3\"></span>ith o<span class=\"_ _3\"></span>ld ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>se U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d hal<span class=\"_ _3\"></span>f of 2020 resulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f 5.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>lated to t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>chi<span class=\"_ _3\"></span>ner<span class=\"_ _1\"></span>y an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t (see n<span class=\"_ _3\"></span>ote 5 'Re<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'). Th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re was li<span class=\"_ _3\"></span>nked to the d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n to out<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rce the U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM pane<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>red th<span class=\"_ _3\"></span>e pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>co<span class=\"ls4 ws4\">-</span>no<span class=\"_ _3\"></span>mic i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the u<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s of it<span class=\"_ _3\"></span>s fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent of it<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>achi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is di<span class=\"_ _3\"></span>d not co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. See \u2018C<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accou<span class=\"_ _3\"></span>nt<span class=\"ls4 ws4\">-</span>ing j<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and ke<span class=\"_ _3\"></span>y sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic envir<span class=\"_ _0\"></span>onment on Bar<span class=\"_ _0\"></span>co\u2019<span class=\"_ _0\"></span>s operations.LeasesTh<span class=\"_ _3\"></span>is note p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>es m<span class=\"_ _3\"></span>ore info<span class=\"_ _3\"></span>rmat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n for leas<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up is a le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet sh<span class=\"_ _3\"></span>ows t<span class=\"_ _3\"></span>he fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g to le<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _256\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _ad\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _235\"> </span>2020</span>Buildings<span class=\"_ _1aa\"> </span>Ve<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _76\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _ad\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _10a\"> </span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1a4\"> </span>9,3<span class=\"_ _3\"></span>87<span class=\"_ _54\"> </span>46<span class=\"_ _3\"></span>,922<span class=\"_ _68\"> </span><span class=\"lsfe ws11b\">39,013<span class=\"_ _43\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _2\"></span>,965</span></span>Ne<span class=\"_ _3\"></span>w lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>r ex<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of cur<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _22a\"> </span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>9<span class=\"_ _76\"> </span>3,<span class=\"_ _3\"></span>387<span class=\"_ _43\"> </span>10,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,702<span class=\"_ _43\"> </span><span class=\"ls191 ws255\">11,000</span></span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _10b\"> </span>-<span class=\"_ _3\"></span>4,892<span class=\"_ _60\"> </span>-1<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>5<span class=\"_ _43\"> </span>-<span class=\"_ _3\"></span>6,586<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>03<span class=\"_ _43\"> </span><span class=\"ls3c ws48\">-8,<span class=\"_ _3\"></span>290</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _1cd\"> </span>-7<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>-<span class=\"_ _3\"></span>40<span class=\"_ _bb\"> </span>-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsf0 ws10d\">1,61<span class=\"_ _3\"></span>1<span class=\"_ _7b\"> </span><span class=\"lsed ws10a\">-1,663</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>40,1<span class=\"_ _0\"></span>64<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _40\"> </span>51,2<span class=\"_ _0\"></span>05<span class=\"_ _60\"> </span><span class=\"lsea ws107\">46,92<span class=\"_ _3\"></span>2<span class=\"_ _40\"> </span><span class=\"lsfe ws11b\">39,013</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _43\"> </span><span class=\"lsfc ws119\">-4,<span class=\"_ _3\"></span>439<span class=\"_ _10c\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _10\"> </span></span></span>-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>41<span class=\"_ _1\"></span>5<span class=\"_ _43\"> </span><span class=\"ls167 ws22d\">-9,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _257\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _255\"> </span>-2,604<span class=\"_ _70\"> </span>-<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span><span class=\"ls106 ws123\">-10,0<span class=\"_ _3\"></span>23<span class=\"_ _10c\"> </span>-10<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _258\"> </span>2,608<span class=\"_ _76\"> </span>1,533<span class=\"_ _62\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>141<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>56<span class=\"_ _8e\"> </span><span class=\"lsda wsf7\">5,3<span class=\"_ _3\"></span>72</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _9a\"> </span><span class=\"ls3c ws48\">123<span class=\"_ _22a\"> </span>23<span class=\"_ _7e\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _67\"> </span></span>-<span class=\"_ _3\"></span>636<span class=\"_ _67\"> </span><span class=\"ls10e ws12b\">495</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _191\"> </span>-20,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span><span class=\"lse3 ws100\">-5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87<span class=\"_ _151\"> </span></span>-26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _151\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5</span></span>Right<span class=\"_ _0\"></span>-of<span class=\"_ _0\"></span>-use assetsOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1d2\"> </span>20,855<span class=\"_ _100\"> </span>4,949<span class=\"_ _54\"> </span>25,803<span class=\"_ _60\"> </span><span class=\"ls167 ws22d\">24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>98<span class=\"_ _43\"> </span><span class=\"lsea ws107\">28,0<span class=\"_ _3\"></span>17</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>19,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>80<span class=\"_ _6c\"> </span>5<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"ls167 ws22d\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>83<span class=\"_ _3\"></span>4<span class=\"_ _7b\"> </span><span class=\"ls139 ws168\">25,803<span class=\"_ _8c\"> </span></span>24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>8</span>Ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>of-<span class=\"_ _3\"></span>use a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022 we<span class=\"_ _3\"></span>re 11 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro (2021: 10.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 11 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) sp<span class=\"_ _3\"></span>lit over lea<span class=\"_ _3\"></span>sed b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>gs (202<span class=\"_ _3\"></span>2: 7<span class=\"_ _2\"></span>.6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; 2021: 9 mill<span class=\"_ _3\"></span>ion euro) a<span class=\"_ _3\"></span>nd lea<span class=\"_ _3\"></span>sed ve<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>cles (202<span class=\"_ _3\"></span>2: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro; 2021: 1.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re bot<span class=\"_ _3\"></span>h ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>ls of e<span class=\"_ _3\"></span>xis<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>e agre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s as we<span class=\"_ _3\"></span>ll as n<span class=\"_ _3\"></span>ew lea<span class=\"_ _3\"></span>se ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n US, Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d Sou<span class=\"_ _3\"></span>th Korea ove<span class=\"_ _3\"></span>r a leas<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of res<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vely 2 ye<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, 3 ye<span class=\"_ _0\"></span>ars and 5 ye<span class=\"_ _0\"></span>ars.We refer to note 14 for mo<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent of p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing to le<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s:Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h out<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>low for le<span class=\"_ _3\"></span>ases i<span class=\"_ _3\"></span>n 2022 wa<span class=\"_ _3\"></span>s 9.2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro (2021: 9.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 1<span class=\"_ _0\"></span>0<span class=\"_ _3\"></span>.8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1bc\"> </span>31 DEC 2022<span class=\"_ _96\"> </span>31 DEC 202<span class=\"_ _3\"></span>1<span class=\"_ _e9\"> </span>31 DEC 2020Buildings<span class=\"_ _259\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _4a\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _4e\"> </span>-<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>4</span>Vehic<span class=\"_ _0\"></span>les<span class=\"_ _168\"> </span>-2,604<span class=\"_ _147\"> </span><span class=\"lsfe ws11b\">-2,433<span class=\"_ _89\"> </span><span class=\"lse0 wsfd\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>390</span></span>T<span class=\"_ _0\"></span>otal depreciat<span class=\"_ _0\"></span>ion charge of<span class=\"_ _0\"></span> right<span class=\"_ _0\"></span>-of-<span class=\"_ _0\"></span>use assets<span class=\"_ _ed\"> </span>-9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>9<span class=\"_ _148\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _98\"> </span>-10<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>nce cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>)<span class=\"_ _25a\"> </span>-1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _147\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>06<span class=\"_ _3\"></span>6<span class=\"_ _c1\"> </span><span class=\"ls191 ws255\">-1,<span class=\"_ _0\"></span>000</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _6f\"> </span>0<span class=\"_ _6c\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _100\"> </span><span class=\"ls103 ws120\">-<span class=\"_ _1\"></span>41</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f low<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at a<span class=\"_ _3\"></span>re no<span class=\"_ _3\"></span>t sh<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>ove as s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-te<span class=\"_ _3\"></span>rm l<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>es<span class=\"_ _d\"> </span>-1<span class=\"_ _3\"></span>9<span class=\"_ _71\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>24<span class=\"_ _71\"> </span><span class=\"lsf0 ws10d\">-26</span></span>In 2022 w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized as e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le at 0.7<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2021<span class=\"_ _3\"></span>.In 2020, wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs we<span class=\"_ _3\"></span>re imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic an<span class=\"_ _3\"></span>d resu<span class=\"_ _3\"></span>lted in hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized as ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse (1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 1.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-106-8": {
   "value": "2.5. Reconciliation of segment information with group informationIn thousands of euro 2022 2021 2020External salesHealthcare 341,701 261,486 261,856  At a point in time revenues 337,983 99%  257,466  98% 258,026  99%  Over time revenues 3,718 1% 4,020  2% 3,830  1%Enterprise 317,250 233,090 216,794  At a point in time revenues 232,932 73% 161,093 69% 153,435 71%  Over time revenues 84,319 27% 71,996 31% 63,359 29%Entertainment 399,339 309,712 291,433  At a point in time revenues 364,830 91% 276,981 89% 255,694 88%  Over time revenues 34,509 9% 32,731 11% 35,739 12%Total external sales segments 1,058,291 804,288 770,083  At a point in time revenues 935,745 88%  695,541  86%  667,155  87%  Over time revenues 122,546 12%  108,747  14%  102,928  13%Net IncomeEBITDA  Healthcare 38,354 22,399 35,030  Enterprise 60,609 14,645 18,246  Entertainment 27,510 21,465 287Depreciation and other amortizations  Healthcare 11,176 11,775 13,362  Enterprise 8,601 9,408 10,033  Entertainment 16,555 17,953 19,989Adjusted EBIT  Healthcare 27,179 10,624 21,668  Enterprise 52,009 5,237 8,214  Entertainment 10,955 3,512 -19,702Total adjusted EBIT 90,143 19,373 10,180In thousands of euro 2022 2021 2020Restructuring and impairments -2,500 -6,420 -14,513EBIT 87,6 43 12,953 -4,332Interest income (expense) - net 843 -1,110 -121Income/(loss) before taxes 88,486 11,843 -4,453Income taxes -15,927 -2,132 -Result after taxes 72,559 9,711 -4,453Share in the result of joint ventures and associates 3,337 48 -276Net income  75,896 9,759 -4,729Net income attributable to non-controlling interest 677 878 -335Net Income attributable to  75,219 8,881 -4,393the equity holder of the parentThe statement of profit or loss shows the following amounts relating to leases:The total cash outflow for leases in 2022 was 9.2 million euro (2021: 9.7 million euro; 2020: 10.8 million euro).In thousands of euro 31 DEC 2022 31 DEC 2021 31 DEC 2020Buildings -6,936 -7,591 -7,944Vehicles -2,604 -2,433 -2,390Total depreciation charge of right-of-use assets -9,539 -10,023 -10,334Interest expense (included in finance cost) -1,072 -1,066 -1,000Expense relating to short-term leases 0 -17 -41Expense relating to leases of low-value assets that are not shown above as short-term leases -19 -24 -26",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-122-7": {
   "value": "3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-122-8": {
   "value": "3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-122-9": {
   "value": "3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-124-5": {
   "value": "In thousands of euro Note 2022 2021 2020Adjusted EBIT 90,143 19,373 10,180Depreciations and amortizations936,331 39,136 43,383EBITDA 126,474 58,509 53,563EBITDA as % of sales 12.0% 7. 3% 7.0%The increased topline and higher gross profit margins in 2022 resulted in an improvement of the EBITDA margin by 4.7 per-centage points, landing at 12% in 2022 (+68 million euro above last year), compared to an EBITDA margin of 7.3% on sales in 2021 and 7% in 2020. In 2022 depreciations are 2.8 million lower than in 2021, explained by fully amortized software and acquired know-how in 2022.4. Revenues and expenses by natureIn thousands of euro 2022 2021 2020Sales1,058,291 804,288 770,083Material cost-534,317 -50% -430,858 -54% -393,761 -51%Services and other costs-106,529 -10% -70,942 -9% -79,065 -10%Personnel cost (a)-289,308 -27% -241,303 -30% -235,392 -31%Depreciation property, plant, equipment and software-36,331 -3% -39,136 -5% -43,383 -6%Other operating income (expense) - net (note 3)-1,663 0% -2,676 0% -8,302 -1%Adjusted EBIT90,143 9% 19,373 2% 10,180 1%Material costs in 2022 increased with 103 million euro or 24% compared to 2021 which is in line with the increased top line (+32%). Also, in 2022 material costs are impacted by higher component prices due to inflation and supply shortages. As the topline increased stronger than the material cost we see a relative improvement of the gross margin of 4 percentage points compared to last year. Material costs in 2021 increased as percentage of sales com-pared to 2020, impacted by higher component prices linked to supply shortages. Personnel cost in 2021 was 5.9 million euro higher than 2020, but still 46 million euro lower than pre covid level as a result of temporary measures and executed restructuring lay-offs In 2020 and 2021 these measures also entailed shifts in the planned investment patterns on selected long-term initiatives and a sustained strict discipline on discretionary spending (e.g. travel, marketing spend, consulting,\u2026 ). The company made deliberate choices on the continuation and timetable of selected development projects and adjusted internal and external support levels in function of the focus shift. This has resulted in 8 million euro (2020: 32.7 million euro) lower ser-vices and other costs. These measures are no longer in place in 2022 and explain part of the increase in services and other costs, together with higher inflation and contractors hired to fill temporary gaps as a result of higher recruiting. The table below provides information on the major items contributing to the adjusted EBIT, categorized by nature.(see note 5. Restructuring and impairments) to align costs with lower demand as a result of the impact of the covid-19 pandemic on the Company\u2019s markets. The company has implemented temporary work arrangements and economic unemployment measures as of 2020 for both white and blue collars, in conformity with country specific legal frameworks, support mechanisms and regulations. The increase compared to 2020 can be explained by reduced unemployment measures, lower wage subsidies received and merits (see \u2018Remuneration report for financial year 2021\u2019 in corporate governance chapter).The company was able to apply for wage grants under the enacted Covid-19 relief legislation in APAC and Canada for 0.2 million euro (2020: 3.4 million euro, then also including Cinionic US).Personnel cost in 2022 is 48 million euro higher than 2021, as a result of increased headcount, inflation and higher bonus. As Barco\u2019s activity rate is increasing again after covid we saw an increase in the number of full-time equivalents, mainly in the second semester of 2022, and an increase in temporary personnel compared to 2021.a) Personnel costIn thousands of euro 2022 2021 2020Wages and salaries -237,564 -194,851 -189,654Social security contributions -27,709 -26,642 -25,494Pension expense for defined benefit plans -12,859 -12,554 -13,339Temporary labour -4,004 -1,661 -2,388Recruiting expenses -2,264 -1,294 -1,552Other personnel cost -4,908 -4,301 -2,966Personnel cost -289,308 -241,303 -235,392Personnel cost includes the cost for temporary personnel for an amount of 4 million euro (in 2021: 1.7 million euro, in 2020: 2.4 million euro). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-130-7": {
   "value": "Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(a<span class=\"_ _0\"></span>) Researc<span class=\"_ _0\"></span>h and dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re spre<span class=\"_ _3\"></span>ad ove<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as fo<span class=\"_ _3\"></span>llows:In 2<span class=\"_ _0\"></span>022 res<span class=\"_ _0\"></span>earch<span class=\"_ _0\"></span> and development e<span class=\"_ _0\"></span>xpenses repr<span class=\"_ _0\"></span>esent 11.4% of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>12.6% in 202<span class=\"_ _3\"></span>1; 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>3% in 2020). In abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te numb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses h<span class=\"_ _3\"></span>ave in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 120<span class=\"_ _3\"></span>.5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro. I<span class=\"_ _3\"></span>n 2020 and 202<span class=\"_ _3\"></span>1, t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te level of resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of cost conta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n as resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>se to the cov<span class=\"_ _3\"></span>id cris<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, h<span class=\"_ _3\"></span>owever, contin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct road<span class=\"_ _3\"></span>map to su<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy leadership<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>osit<span class=\"_ _0\"></span>ion.On<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e cost rel<span class=\"_ _3\"></span>ated to rese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>erefore in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le Op<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>. We refer to the <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy o<span class=\"_ _3\"></span>n p. 61</span><span class=\"ls2a ws5b\"> for<span class=\"_ _3\"></span> th<span class=\"_ _3\"></span>e </span>EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>x in 2022. In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1b4\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esT<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ear<span class=\"_ _3\"></span>ch &amp; d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,493<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>4%<span class=\"_ _108\"> </span><span class=\"lse6 ws103\">101<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>38<span class=\"_ _53\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span></span>10<span class=\"_ _3\"></span>2,610<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-130-8": {
   "value": "Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(c<span class=\"_ _0\"></span>) General and ad<span class=\"_ _0\"></span>ministra<span class=\"_ _0\"></span>tion expensesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esGenera<span class=\"_ _3\"></span>l and administration e<span class=\"_ _0\"></span>xp<span class=\"_ _3\"></span>enses5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _df\"> </span></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _f\"> </span>6.0%<span class=\"_ _18c\"> </span><span class=\"ls131 ws161\">50,<span class=\"_ _3\"></span>362<span class=\"_ _b9\"> </span><span class=\"lse0 wsfd\">6.<span class=\"_ _3\"></span>5%</span></span>Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l and a<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are at 5.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, dow<span class=\"_ _3\"></span>n 1 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>t vers<span class=\"_ _3\"></span>us prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>us year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h alm<span class=\"_ _3\"></span>ost 10 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, du<span class=\"_ _3\"></span>e to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he inf<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in Europ<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d Am<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>as on pe<span class=\"_ _3\"></span>rso<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her cos<span class=\"_ _3\"></span>t of recr<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as a resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s back to a n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span> level.In 2021 a<span class=\"_ _3\"></span>nd 2020 ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s were low<span class=\"_ _3\"></span>er as a a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he co<span class=\"_ _0\"></span>vid<span class=\"_ _3\"></span>-relat<span class=\"_ _0\"></span>ed measures<span class=\"_ _0\"></span> taken.Stead<span class=\"_ _3\"></span>y inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in I<span class=\"_ _3\"></span>T sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>rs h<span class=\"_ _3\"></span>ave led to IT cost<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>ons o<span class=\"_ _3\"></span>n SA<span class=\"_ _3\"></span>P ERP sy<span class=\"_ _3\"></span>stem) re<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span><span class=\"ws4\">-</span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jor p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of G<span class=\"_ _3\"></span>&amp;A expe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s (2022: 42%<span class=\"_ _3\"></span>, 2021: 47%<span class=\"_ _3\"></span>, 2020: 45%).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-157-3": {
   "value": "The average number of full time equivalents can be split as follows:In thousands of euro 2022 2021 2020Barco NV (parent company) 1,196 1,199 1,282Other subsidiaries 2,004 1,941 2,237Total average number of full time equivalents 3,200 3,140 3,519Average number of employees in 2022 was 3,200 (versus 3,140 in 2021; 3,519 in 2020), including 2,628 white-collars (in 2021: 2,555, in 2020: 2,738) and 572 blue-collars (in 2021: 585, in 2020: 781). The average level of bleu-collars in 2022 is impacted by component shortages which resulted in tempo-rary unemployment, mainly in the first half of the year.Full time equivalents at year end 2022 amount to 3,299 (versus 3,133 end of 2021; 3,317 end of 2020), including 2,724 white collars (2021: 2,568, in 2020: 2,671) and 575 blue collars (in 2021: 565, in 2020: 646).In 2020, the Company has implemented temporary work arrangements and economic unemployment measures for both white and blue collars, in conformity with country specific legal frameworks, support mechanisms and regulations. In 2021 temporary measures were extended for a limited period, during the first half year only, in conformity with country spe-cific legal frameworks and more structural measures were taken. As of the second half of 2021, the Company noted an increased number of voluntary leavers, which continued in the first half of 2022. There is a lagging effect on the replacements of those positions, which mainly occurred in the second half of 2022. This explains the higher number of fulltime equiva-lents at year-end 2022, while the increase in average number of employees is lower and also explains the lower number of fulltime equivalents at year-end 2021, while the personnel costs were still higher than in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-162-4": {
   "value": "5. Restructuring and impairment costsTh<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>.A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23e\"> </span>Note<span class=\"_ _7e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _de\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>20</span>Restructuring (cash)<span class=\"_ _1c4\"> </span>19<span class=\"_ _11\"> </span>-2,50<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,920<span class=\"_ _de\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1</span></span>Impairments (non-<span class=\"_ _3\"></span>cash)<span class=\"_ _228\"> </span>-<span class=\"_ _73\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0<span class=\"_ _81\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>2</span></span>T<span class=\"_ _0\"></span>otal rest<span class=\"_ _0\"></span>ructuring and i<span class=\"_ _0\"></span>mpairments<span class=\"_ _23f\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6,420<span class=\"_ _235\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3</span></span>19. ProvisionsBa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce<span class=\"ls4 ws4\"> </span>AdditionalAmo<span class=\"_ _3\"></span>untsUnu<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts Remeasur<span class=\"_ _0\"></span>ement T<span class=\"_ _0\"></span>ranslation Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nceIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroshe<span class=\"_ _3\"></span>et 2022provis<span class=\"_ _0\"></span>ions madeuse<span class=\"_ _3\"></span>d rever<span class=\"_ _3\"></span>sed<span class=\"_ _c2\"> </span><span class=\"ls7c ws96\">T<span class=\"_ _0\"></span>ransfers</span>gains/<span class=\"_ _0\"></span>(losses) on<span class=\"_ _0\"></span> DBO(losses)<span class=\"_ _0\"></span> / gainsshe<span class=\"_ _3\"></span>et 2021she<span class=\"_ _3\"></span>et 2020T<span class=\"_ _0\"></span>otal long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> provision<span class=\"_ _be\"> </span>14,99<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>3,3<span class=\"_ _3\"></span>92<span class=\"_ _10c\"> </span>-<span class=\"_ _0\"></span>1,23<span class=\"_ _0\"></span>3<span class=\"_ _1d1\"> </span>-<span class=\"_ _25c\"> </span>-7<span class=\"_ _1\"></span>8<span class=\"_ _88\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _73\"> </span>137<span class=\"_ _10c\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>75<span class=\"_ _3a\"> </span><span class=\"ls109 ws126\">40,156</span></span>Defined<span class=\"_ _0\"></span> benefit<span class=\"_ _0\"></span> obligation<span class=\"_ _0\"></span>s <span class=\"_ _a3\"> </span><span class=\"fs7b fc0 ls138 ws167\">(<span class=\"_ _3\"></span>b)</span>4,891<span class=\"_ _e1\"> </span>1,<span class=\"_ _3\"></span>529<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,01<span class=\"_ _3\"></span>9<span class=\"_ _28b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1ef\"> </span></span>-18,<span class=\"_ _3\"></span>395<span class=\"_ _25c\"> </span>-<span class=\"_ _3\"></span>49<span class=\"_ _4b\"> </span><span class=\"lsf0 ws10d\">2<span class=\"_ _3\"></span>2,8<span class=\"_ _3\"></span>26<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>10,0<span class=\"_ _3\"></span>87<span class=\"_ _e1\"> </span>1,862<span class=\"_ _63\"> </span>-21<span class=\"_ _3\"></span>5<span class=\"_ _28b\"> </span>-<span class=\"_ _81\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _28b\"> </span></span>-<span class=\"_ _25c\"> </span>185<span class=\"_ _255\"> </span><span class=\"lsee ws10b\">8,<span class=\"_ _3\"></span>332<span class=\"_ _255\"> </span><span class=\"ls42 ws6f\">8,857</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>20<span class=\"_ _44\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _101\"> </span>2<span class=\"_ _e1\"> </span><span class=\"lsfb ws118\">18<span class=\"_ _bc\"> </span>18</span>T<span class=\"_ _0\"></span>otal short<span class=\"_ _0\"></span>-t<span class=\"_ _0\"></span>erm provision<span class=\"_ _cc\"> </span>9,<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>5<span class=\"_ _7e\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4<span class=\"_ _151\"> </span>-2,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _e1\"> </span>78<span class=\"_ _1d1\"> </span>-<span class=\"_ _7e\"> </span>89<span class=\"_ _10\"> </span><span class=\"ls89 wsa4\">8,<span class=\"_ _3\"></span>537<span class=\"_ _4b\"> </span><span class=\"ls36 ws40\">13,720</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>4,<span class=\"_ _3\"></span>816<span class=\"_ _1b0\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>161<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>285<span class=\"_ _28b\"> </span>-<span class=\"_ _e1\"> </span><span class=\"lsea ws107\">78<span class=\"_ _230\"> </span></span><span class=\"ff5\">-<span class=\"_ _e1\"> </span></span>55<span class=\"_ _10\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>807<span class=\"_ _70\"> </span><span class=\"lsdd wsfa\">4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2</span></span>Restructuring<span class=\"_ _0\"></span> provis<span class=\"_ _0\"></span>ion <span class=\"_ _96\"> </span><span class=\"fs7b fc0 lsf0 ws10d\">(c)</span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>2,500<span class=\"_ _10\"> </span>-1,2<span class=\"_ _0\"></span>11<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1d1\"> </span><span class=\"ff5\">-<span class=\"_ _d0\"> </span></span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">458<span class=\"_ _7b\"> </span><span class=\"lsef ws10c\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>2,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,083<span class=\"_ _9c\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>208<span class=\"_ _1ed\"> </span>-1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>20<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _103\"> </span><span class=\"ff5\">-<span class=\"_ _7e\"> </span></span><span class=\"ls108 ws125\">34<span class=\"_ _70\"> </span><span class=\"lsf5 ws112\">4,<span class=\"_ _3\"></span>272<span class=\"_ _255\"> </span></span></span></span></span>5,055</span>Provisions<span class=\"_ _2a7\"> </span>24,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _7e\"> </span>8,1<span class=\"_ _3\"></span>36<span class=\"_ _10c\"> </span>-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>7<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _d7\"> </span>-<span class=\"_ _ae\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _11\"> </span>226<span class=\"_ _151\"> </span><span class=\"lse7 ws104\">39,71<span class=\"_ _3\"></span>2<span class=\"_ _4b\"> </span><span class=\"ls89 wsa4\">53,<span class=\"_ _3\"></span>876</span></span>(a)<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>echnical warrantyProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for techn<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y are b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l dat<span class=\"_ _3\"></span>a of the c<span class=\"_ _0\"></span>ost incurr<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> repairs and r<span class=\"_ _0\"></span>eplacements. There ar<span class=\"_ _0\"></span>e thr<span class=\"_ _0\"></span>ee differ<span class=\"_ _0\"></span>ent tec<span class=\"_ _0\"></span>hnical warranty pr<span class=\"_ _0\"></span>ovisions<span class=\"_ _0\"></span>: pro<span class=\"_ _0\"></span>visions r<span class=\"_ _0\"></span>elated t<span class=\"_ _0\"></span>o \u2018st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard<span class=\"_ _3\"></span>\u2019 (mo<span class=\"_ _3\"></span>stl<span class=\"_ _3\"></span>y 2 year<span class=\"_ _3\"></span>s) warr<span class=\"_ _3\"></span>ant<span class=\"_ _1\"></span>y per<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons re<span class=\"_ _3\"></span>lated to ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed wa<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns for sp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>fic cl<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ms/issues. (b)<span class=\"_ _0\"></span> Defined benefit obliga<span class=\"_ _0\"></span>tionsA<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, the d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it obligation<span class=\"_ _0\"></span>s are<span class=\"_ _0\"></span> composed<span class=\"_ _0\"></span> of:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _2a8\"> </span>732<span class=\"_ _4b\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span> <span class=\"_ _4e\"> </span></span> 26,1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>0 Early r<span class=\"_ _0\"></span>etirement<span class=\"_ _0\"></span> plans in Belgi<span class=\"_ _0\"></span>um<span class=\"_ _2a9\"> </span>104<span class=\"_ _6a\"> </span><span class=\"ls4 ws4\"> 155 <span class=\"_ _235\"> </span> 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3 </span>Local l<span class=\"_ _0\"></span>egal requir<span class=\"_ _0\"></span>ements (mainly<span class=\"_ _0\"></span> Italy,<span class=\"_ _0\"></span> Korea,<span class=\"_ _0\"></span> Japan, Germany<span class=\"_ _0\"></span>, F<span class=\"_ _0\"></span>rance)<span class=\"_ _118\"> </span>3<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"lse7 ws104\"> 4,59<span class=\"_ _3\"></span>0 <span class=\"_ _151\"> </span><span class=\"ls4 ws4\"> 4,75<span class=\"_ _3\"></span>4 </span></span>A small<span class=\"_ _0\"></span> number of i<span class=\"_ _0\"></span>ndividual plans<span class=\"_ _2aa\"> </span>293<span class=\"_ _63\"> </span><span class=\"lsf7 ws114\"> 246<span class=\"_ _3\"></span> <span class=\"_ _235\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>25 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _2ab\"> </span>4,891<span class=\"_ _4a\"> </span><span class=\"ls4 ws4\"> 22<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>26 <span class=\"_ _52\"> </span><span class=\"ls19a ws26f\"> 31,2<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span> </span></span>Belgian r<span class=\"_ _0\"></span>egulations r<span class=\"_ _0\"></span>equire tha<span class=\"_ _0\"></span>t the minimum<span class=\"_ _0\"></span> guaranteed ra<span class=\"_ _0\"></span>te of retur<span class=\"_ _3\"></span>n on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer a<span class=\"_ _3\"></span>nd p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>ant con<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing to 1<span class=\"_ _3\"></span>.75%<span class=\"_ _3\"></span>, is an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ally re<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a risk-<span class=\"_ _3\"></span>fre<span class=\"_ _3\"></span>e rate of 10<span class=\"_ _3\"></span>-y<span class=\"_ _3\"></span>ear g<span class=\"_ _3\"></span>overn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt bo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>ccordin<span class=\"_ _3\"></span>g to IA<span class=\"_ _3\"></span>S19, Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at gu<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>ntee a sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d retur<span class=\"_ _3\"></span>n on contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer<span class=\"_ _3\"></span> is not re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>onsi<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>ut ha<span class=\"_ _3\"></span>s to cover th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t risk u<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>l the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l mi<span class=\"_ _3\"></span>nim<span class=\"_ _3\"></span>um ra<span class=\"_ _3\"></span>tes ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cable. The r<span class=\"_ _0\"></span>eturns guaran<span class=\"_ _0\"></span>teed by<span class=\"_ _0\"></span> the insurance<span class=\"_ _0\"></span> companies are in m<span class=\"_ _3\"></span>ost c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um retu<span class=\"_ _3\"></span>rn gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed by l<span class=\"_ _3\"></span>aw. As a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as not f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ly he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s retur<span class=\"_ _3\"></span>n risk t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh a<span class=\"_ _3\"></span>n insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d a prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>eds to b<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>nted for. The p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns at Ba<span class=\"_ _3\"></span>rco are fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ced thro<span class=\"_ _3\"></span>ugh g<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>nsur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s are b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span><span class=\"ws4\">-</span>fit<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g from a con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d by the i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. When t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, th<span class=\"_ _3\"></span>is wi<span class=\"_ _3\"></span>ll be cove<span class=\"_ _3\"></span>red by the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>is is ins<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e req<span class=\"_ _3\"></span>ues<span class=\"_ _3\"></span>ted. IA<span class=\"_ _3\"></span>S 19 re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>res an e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y to reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ze a liabi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n an emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to be pa<span class=\"_ _3\"></span>id in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>erefore, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns are set<span class=\"_ _3\"></span>up. T<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured o<span class=\"_ _3\"></span>n a dis<span class=\"_ _3\"></span>counte<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use th<span class=\"_ _3\"></span>ey a<span class=\"_ _3\"></span>re set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d many ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>r the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice. A q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y has d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are he<span class=\"_ _3\"></span>ld by an i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. The p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted u<span class=\"_ _3\"></span>nit cred<span class=\"_ _3\"></span>it me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d was u<span class=\"_ _3\"></span>sed to es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mate th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, the d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it cos<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re 15 de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s in Ba<span class=\"_ _3\"></span>rco Belg<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m, for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch we sh<span class=\"_ _3\"></span>ow be<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>e a<span class=\"_ _3\"></span>ggre<span class=\"_ _3\"></span>gated v<span class=\"_ _3\"></span>iew a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>o not d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>fer mat<span class=\"_ _0\"></span>erially fr<span class=\"_ _0\"></span>om characteri<span class=\"_ _0\"></span>stics<span class=\"_ _3\"></span>, r<span class=\"_ _0\"></span>egulatory environment,<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt or f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ar<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. I<span class=\"_ _3\"></span>n accord<span class=\"_ _3\"></span>ance w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>AS 19 th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re is in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f a wei<span class=\"_ _3\"></span>ghted ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge.2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>an d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f pl<span class=\"_ _3\"></span>an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s:2022<span class=\"_ _2ac\"> </span>2021<span class=\"_ _2ac\"> </span>2020De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroobligationassetsliabilityobligationassetsliabilityobligationassetsliabilityPen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on co<span class=\"_ _3\"></span>st c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d to P/LOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _256\"> </span>13<span class=\"_ _3\"></span>0,<span class=\"_ _1\"></span>214<span class=\"_ _12e\"> </span>-112,37<span class=\"_ _0\"></span>8<span class=\"_ _c3\"> </span><span class=\"ff5 ls199 wsd9\">1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _e7\"> </span></span> 134,340<span class=\"_ _0\"></span> <span class=\"_ _c5\"> </span><span class=\"ls106 ws123\"> -108<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>50 <span class=\"_ _4c\"> </span><span class=\"ff5 ls4 ws4\"> 26<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>90 <span class=\"_ _e7\"> </span></span><span class=\"lsf7 ws114\"> 1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> <span class=\"_ _c5\"> </span></span> -100<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>5 <span class=\"_ _1a0\"> </span><span class=\"ff5 ls167 ws22d\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>31 </span></span>Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce cos<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"ls89 wsa4\">5,575<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _51\"> </span><span class=\"ff5 lsee ws10b\">5,<span class=\"_ _3\"></span>575<span class=\"_ _d4\"> </span></span> 5<span class=\"_ _3\"></span>,639 <span class=\"_ _71\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 5,<span class=\"_ _3\"></span>639 <span class=\"_ _17e\"> </span></span><span class=\"ls19c ws271\"> 7,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _7b\"> </span></span>-<span class=\"_ _53\"> </span><span class=\"ff5 ls199 wsd9\"> 7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span>Net i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _f4\"> </span>987<span class=\"_ _f\"> </span>-<span class=\"_ _3\"></span>862<span class=\"_ _3d\"> </span><span class=\"ff5 ls10e ws12b\">126<span class=\"_ _fe\"> </span></span> 3<span class=\"_ _3\"></span>88 <span class=\"_ _51\"> </span><span class=\"lsde wsfb\"> -<span class=\"_ _3\"></span>310 <span class=\"_ _3d\"> </span></span><span class=\"ff5\"> 78 <span class=\"_ _b8\"> </span></span> 5<span class=\"_ _3\"></span>85 <span class=\"_ _4f\"> </span><span class=\"lsef ws10c\"> -<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span> <span class=\"_ _147\"> </span><span class=\"ff5 ls1a2 ws275\"> 111 </span></span>Decrea<span class=\"_ _0\"></span>se due t<span class=\"_ _0\"></span>o curtailement<span class=\"_ _27c\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s<span class=\"_ _202\"> </span>6,562<span class=\"_ _b8\"> </span>-862<span class=\"_ _bd\"> </span><span class=\"ls10e ws12b\">5,701<span class=\"_ _17e\"> </span></span> 6<span class=\"_ _3\"></span>,026 <span class=\"_ _4f\"> </span><span class=\"ls10d ws12a\"> -310<span class=\"_ _3\"></span> <span class=\"_ _c4\"> </span></span> 5,<span class=\"_ _3\"></span>716 <span class=\"_ _37\"> </span> 8<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>3 <span class=\"_ _98\"> </span><span class=\"ls107 ws124\"> -<span class=\"_ _3\"></span>474<span class=\"_ _3\"></span> <span class=\"_ _df\"> </span><span class=\"lsde wsfb\"> 8,039 </span></span>Benefits paid<span class=\"_ _1db\"> </span>-3,030<span class=\"_ _4f\"> </span>3,030<span class=\"_ _6c\"> </span><span class=\"ff5 ls4 ws4\">-<span class=\"_ _18c\"> </span></span> -2,<span class=\"_ _3\"></span>383 <span class=\"_ _df\"> </span> 2,383 <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _37\"> </span></span> -1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285 <span class=\"_ _c3\"> </span> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285<span class=\"_ _3\"></span> <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _8\"> </span>-   </span>Remeasurement gains<span class=\"_ _0\"></span>/losses in OCIIncre<span class=\"_ _0\"></span>ase due t<span class=\"_ _0\"></span>o effect o<span class=\"_ _0\"></span>f transfers<span class=\"_ _21d\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _6e\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _8\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Ret<span class=\"_ _3\"></span>urn o<span class=\"_ _3\"></span>n p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (exc<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>t inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e)<span class=\"_ _140\"> </span>-<span class=\"_ _53\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _17e\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _1a4\"> </span>-<span class=\"_ _37\"> </span><span class=\"lsde wsfb\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>231 <span class=\"_ _14c\"> </span></span><span class=\"ls36 ws40\"> -<span class=\"_ _0\"></span>2,231 <span class=\"_ _7b\"> </span><span class=\"ff4 ls4 ws4\">-<span class=\"_ _37\"> </span> -2,7<span class=\"_ _3\"></span>33 <span class=\"_ _f9\"> </span></span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 </span></span>Ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m cha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>pt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _294\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>72<span class=\"_ _8e\"> </span></span>-<span class=\"_ _14c\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _df\"> </span></span><span class=\"ls3c ws48\"> -5,679 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 lse3 ws100\"> -5<span class=\"_ _3\"></span>,67<span class=\"_ _3\"></span>9 <span class=\"_ _c3\"> </span></span> 1,69<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>698 </span>Actuarial<span class=\"_ _0\"></span> changes arising<span class=\"_ _0\"></span> from experienc<span class=\"_ _0\"></span>e adjustments<span class=\"_ _107\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>14<span class=\"_ _1a4\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _17e\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _37\"> </span></span><span class=\"lsfe ws11b\"> -2,091 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>1 <span class=\"_ _10f\"> </span></span> 99<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _fe\"> </span><span class=\"ff5\"> 99<span class=\"_ _3\"></span>8 </span></span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in O<span class=\"_ _3\"></span>CI<span class=\"_ _2ad\"> </span>-<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>,186<span class=\"_ _c4\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _fd\"> </span>-<span class=\"_ _0\"></span>18,395<span class=\"_ _df\"> </span> -<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> <span class=\"_ _14c\"> </span> -<span class=\"_ _0\"></span>2,<span class=\"_ _3\"></span>231<span class=\"_ _0\"></span> <span class=\"_ _5a\"> </span> -<span class=\"_ _2\"></span>10,000<span class=\"_ _0\"></span> <span class=\"_ _149\"> </span> 2<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>6 <span class=\"_ _f9\"> </span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 <span class=\"_ _fe\"> </span><span class=\"ls10d ws12a\"> -3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> </span></span>Contributions by<span class=\"_ _0\"></span> emp<span class=\"_ _3\"></span>loyer<span class=\"_ _2ae\"> </span>-<span class=\"_ _37\"> </span>-<span class=\"_ _3\"></span>4,409<span class=\"_ _18c\"> </span><span class=\"ff5 ls131 ws161\">-<span class=\"_ _3\"></span>4,409<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _18c\"> </span><span class=\"ls103 ws120\"> -<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,070<span class=\"_ _3\"></span> <span class=\"_ _108\"> </span></span><span class=\"ff5\"> -<span class=\"_ _3\"></span>4,070 <span class=\"_ _71\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"lse7 ws104\"> -<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 <span class=\"_ _108\"> </span><span class=\"ff5 lsfc ws119\"> -6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 </span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>60<span class=\"_ _f1\"> </span>-<span class=\"_ _0\"></span>115,828<span class=\"_ _4a\"> </span>732<span class=\"_ _e7\"> </span> 1<span class=\"_ _3\"></span>30,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14 <span class=\"_ _ea\"> </span> -1<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span> <span class=\"_ _f9\"> </span> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _59\"> </span> 134,340 <span class=\"_ _ee\"> </span><span class=\"ls109 ws126\"> -1<span class=\"_ _0\"></span>08,1<span class=\"_ _3\"></span>50 <span class=\"_ _14e\"> </span><span class=\"ls4 ws4\"> 26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>190 </span></span>Th<span class=\"_ _3\"></span>e 17 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n2022 ver<span class=\"_ _3\"></span>sus 202<span class=\"_ _3\"></span>1 is ma<span class=\"_ _3\"></span>inly re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d vi<span class=\"_ _3\"></span>a oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>siveinco<span class=\"_ _3\"></span>me as c<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>sed by ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters (s<span class=\"_ _3\"></span>ee b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le):incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate (3.7<span class=\"_ _3\"></span>% vs 0.<span class=\"_ _3\"></span>8%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>edme<span class=\"_ _3\"></span>rit a<span class=\"_ _3\"></span>nd in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in 2022 a<span class=\"_ _3\"></span>nd 2023<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e 8.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in 2021 ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s2020 is mai<span class=\"_ _3\"></span>nly co<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>sed d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (0.<span class=\"_ _3\"></span>8% vs0.<span class=\"_ _3\"></span>3%) a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve retur<span class=\"_ _3\"></span>n on p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, bot<span class=\"_ _3\"></span>h record<span class=\"_ _3\"></span>edvia O<span class=\"_ _3\"></span>CI (eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y), as ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e P&amp;L im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of\u20ac -1.<span class=\"_ _3\"></span>8m is t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult of low<span class=\"_ _3\"></span>er di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>t rate ver<span class=\"_ _3\"></span>sus m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mumgua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s to be com<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sate<span class=\"_ _3\"></span>d by the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer.In 2020, 2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro net in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in P&amp;L is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>heincrea<span class=\"_ _3\"></span>sed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cost a<span class=\"_ _3\"></span>s a result of a l<span class=\"_ _3\"></span>ow disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to the m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>teed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retur<span class=\"_ _3\"></span>n, forwhi<span class=\"_ _3\"></span>ch ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted.  Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>re ful<span class=\"_ _3\"></span>lyinves<span class=\"_ _3\"></span>ted in i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. In 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e tar<span class=\"_ _3\"></span>get as<span class=\"_ _3\"></span>set m<span class=\"_ _3\"></span>ixdid n<span class=\"_ _3\"></span>ot cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021 an<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s of 67<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>50%gove<span class=\"_ _3\"></span>rnm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t bo<span class=\"_ _3\"></span>nds<span class=\"_ _3\"></span>, 14% real es<span class=\"_ _3\"></span>tate, 7<span class=\"_ _0\"></span>.5% cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>rate b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ds, 6%corporat<span class=\"_ _0\"></span>e loans<span class=\"_ _0\"></span> and 5% s<span class=\"_ _0\"></span>hares.Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:(c) Restr<span class=\"_ _3\"></span>uctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>nSe<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span> standards on<span class=\"_ _0\"></span> provi<span class=\"_ _0\"></span>sions incl<span class=\"_ _0\"></span>uding pro<span class=\"_ _0\"></span>visions<span class=\"_ _0\"></span> on restructuring.(d) Oth<span class=\"_ _3\"></span>er cl<span class=\"_ _3\"></span>aim<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d risk<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>is prov<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on rel<span class=\"_ _3\"></span>ates to dis<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>s with s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng li<span class=\"_ _3\"></span>tig<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tions and<span class=\"_ _0\"></span> specific cust<span class=\"_ _0\"></span>omer warranty disput<span class=\"_ _0\"></span>es. Barc<span class=\"_ _0\"></span>o cannot provi<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on th<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s, as t<span class=\"_ _3\"></span>his cou<span class=\"_ _3\"></span>ld ca<span class=\"_ _3\"></span>use co<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>siderable harm<span class=\"_ _0\"></span> to Bar<span class=\"_ _0\"></span>co in<span class=\"_ _0\"></span> the particular dispu<span class=\"_ _0\"></span>tes.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-162-5": {
   "value": "5. Restructuring and impairment costsTh<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>.A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23e\"> </span>Note<span class=\"_ _7e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _de\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>20</span>Restructuring (cash)<span class=\"_ _1c4\"> </span>19<span class=\"_ _11\"> </span>-2,50<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,920<span class=\"_ _de\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1</span></span>Impairments (non-<span class=\"_ _3\"></span>cash)<span class=\"_ _228\"> </span>-<span class=\"_ _73\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0<span class=\"_ _81\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>2</span></span>T<span class=\"_ _0\"></span>otal rest<span class=\"_ _0\"></span>ructuring and i<span class=\"_ _0\"></span>mpairments<span class=\"_ _23f\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6,420<span class=\"_ _235\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3</span></span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as no co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>mit<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n to it<span class=\"_ _3\"></span>s ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>tes as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020<span class=\"_ _3\"></span>.19. ProvisionsBa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce<span class=\"ls4 ws4\"> </span>AdditionalAmo<span class=\"_ _3\"></span>untsUnu<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts Remeasur<span class=\"_ _0\"></span>ement T<span class=\"_ _0\"></span>ranslation Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nceIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroshe<span class=\"_ _3\"></span>et 2022provis<span class=\"_ _0\"></span>ions madeuse<span class=\"_ _3\"></span>d rever<span class=\"_ _3\"></span>sed<span class=\"_ _c2\"> </span><span class=\"ls7c ws96\">T<span class=\"_ _0\"></span>ransfers</span>gains/<span class=\"_ _0\"></span>(losses) on<span class=\"_ _0\"></span> DBO(losses)<span class=\"_ _0\"></span> / gainsshe<span class=\"_ _3\"></span>et 2021she<span class=\"_ _3\"></span>et 2020T<span class=\"_ _0\"></span>otal long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> provision<span class=\"_ _be\"> </span>14,99<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>3,3<span class=\"_ _3\"></span>92<span class=\"_ _10c\"> </span>-<span class=\"_ _0\"></span>1,23<span class=\"_ _0\"></span>3<span class=\"_ _1d1\"> </span>-<span class=\"_ _25c\"> </span>-7<span class=\"_ _1\"></span>8<span class=\"_ _88\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _73\"> </span>137<span class=\"_ _10c\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>75<span class=\"_ _3a\"> </span><span class=\"ls109 ws126\">40,156</span></span>Defined<span class=\"_ _0\"></span> benefit<span class=\"_ _0\"></span> obligation<span class=\"_ _0\"></span>s <span class=\"_ _a3\"> </span><span class=\"fs7b fc0 ls138 ws167\">(<span class=\"_ _3\"></span>b)</span>4,891<span class=\"_ _e1\"> </span>1,<span class=\"_ _3\"></span>529<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,01<span class=\"_ _3\"></span>9<span class=\"_ _28b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1ef\"> </span></span>-18,<span class=\"_ _3\"></span>395<span class=\"_ _25c\"> </span>-<span class=\"_ _3\"></span>49<span class=\"_ _4b\"> </span><span class=\"lsf0 ws10d\">2<span class=\"_ _3\"></span>2,8<span class=\"_ _3\"></span>26<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>10,0<span class=\"_ _3\"></span>87<span class=\"_ _e1\"> </span>1,862<span class=\"_ _63\"> </span>-21<span class=\"_ _3\"></span>5<span class=\"_ _28b\"> </span>-<span class=\"_ _81\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _28b\"> </span></span>-<span class=\"_ _25c\"> </span>185<span class=\"_ _255\"> </span><span class=\"lsee ws10b\">8,<span class=\"_ _3\"></span>332<span class=\"_ _255\"> </span><span class=\"ls42 ws6f\">8,857</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>20<span class=\"_ _44\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _101\"> </span>2<span class=\"_ _e1\"> </span><span class=\"lsfb ws118\">18<span class=\"_ _bc\"> </span>18</span>T<span class=\"_ _0\"></span>otal short<span class=\"_ _0\"></span>-t<span class=\"_ _0\"></span>erm provision<span class=\"_ _cc\"> </span>9,<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>5<span class=\"_ _7e\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4<span class=\"_ _151\"> </span>-2,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _e1\"> </span>78<span class=\"_ _1d1\"> </span>-<span class=\"_ _7e\"> </span>89<span class=\"_ _10\"> </span><span class=\"ls89 wsa4\">8,<span class=\"_ _3\"></span>537<span class=\"_ _4b\"> </span><span class=\"ls36 ws40\">13,720</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>4,<span class=\"_ _3\"></span>816<span class=\"_ _1b0\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>161<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>285<span class=\"_ _28b\"> </span>-<span class=\"_ _e1\"> </span><span class=\"lsea ws107\">78<span class=\"_ _230\"> </span></span><span class=\"ff5\">-<span class=\"_ _e1\"> </span></span>55<span class=\"_ _10\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>807<span class=\"_ _70\"> </span><span class=\"lsdd wsfa\">4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2</span></span>Restructuring<span class=\"_ _0\"></span> provis<span class=\"_ _0\"></span>ion <span class=\"_ _96\"> </span><span class=\"fs7b fc0 lsf0 ws10d\">(c)</span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>2,500<span class=\"_ _10\"> </span>-1,2<span class=\"_ _0\"></span>11<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1d1\"> </span><span class=\"ff5\">-<span class=\"_ _d0\"> </span></span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">458<span class=\"_ _7b\"> </span><span class=\"lsef ws10c\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>2,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,083<span class=\"_ _9c\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>208<span class=\"_ _1ed\"> </span>-1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>20<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _103\"> </span><span class=\"ff5\">-<span class=\"_ _7e\"> </span></span><span class=\"ls108 ws125\">34<span class=\"_ _70\"> </span><span class=\"lsf5 ws112\">4,<span class=\"_ _3\"></span>272<span class=\"_ _255\"> </span></span></span></span></span>5,055</span>Provisions<span class=\"_ _2a7\"> </span>24,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _7e\"> </span>8,1<span class=\"_ _3\"></span>36<span class=\"_ _10c\"> </span>-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>7<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _d7\"> </span>-<span class=\"_ _ae\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _11\"> </span>226<span class=\"_ _151\"> </span><span class=\"lse7 ws104\">39,71<span class=\"_ _3\"></span>2<span class=\"_ _4b\"> </span><span class=\"ls89 wsa4\">53,<span class=\"_ _3\"></span>876</span></span>(a)<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>echnical warrantyProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for techn<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y are b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l dat<span class=\"_ _3\"></span>a of the c<span class=\"_ _0\"></span>ost incurr<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> repairs and r<span class=\"_ _0\"></span>eplacements. There ar<span class=\"_ _0\"></span>e thr<span class=\"_ _0\"></span>ee differ<span class=\"_ _0\"></span>ent tec<span class=\"_ _0\"></span>hnical warranty pr<span class=\"_ _0\"></span>ovisions<span class=\"_ _0\"></span>: pro<span class=\"_ _0\"></span>visions r<span class=\"_ _0\"></span>elated t<span class=\"_ _0\"></span>o \u2018st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard<span class=\"_ _3\"></span>\u2019 (mo<span class=\"_ _3\"></span>stl<span class=\"_ _3\"></span>y 2 year<span class=\"_ _3\"></span>s) warr<span class=\"_ _3\"></span>ant<span class=\"_ _1\"></span>y per<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons re<span class=\"_ _3\"></span>lated to ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed wa<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns for sp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>fic cl<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ms/issues. (c) Restr<span class=\"_ _3\"></span>uctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>nSe<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span> standards on<span class=\"_ _0\"></span> provi<span class=\"_ _0\"></span>sions incl<span class=\"_ _0\"></span>uding pro<span class=\"_ _0\"></span>visions<span class=\"_ _0\"></span> on restructuring.(d) Oth<span class=\"_ _3\"></span>er cl<span class=\"_ _3\"></span>aim<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d risk<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>is prov<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on rel<span class=\"_ _3\"></span>ates to dis<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>s with s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng li<span class=\"_ _3\"></span>tig<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tions and<span class=\"_ _0\"></span> specific cust<span class=\"_ _0\"></span>omer warranty disput<span class=\"_ _0\"></span>es. Barc<span class=\"_ _0\"></span>o cannot provi<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on th<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s, as t<span class=\"_ _3\"></span>his cou<span class=\"_ _3\"></span>ld ca<span class=\"_ _3\"></span>use co<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>siderable harm<span class=\"_ _0\"></span> to Bar<span class=\"_ _0\"></span>co in<span class=\"_ _0\"></span> the particular dispu<span class=\"_ _0\"></span>tes.With re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ect to th<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s rela<span class=\"_ _3\"></span>ted to form<span class=\"_ _3\"></span>er acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>ere is o<span class=\"_ _3\"></span>ne ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut ca<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ed at 1<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lin<span class=\"_ _3\"></span>ked to th<span class=\"_ _3\"></span>e retenti<span class=\"_ _3\"></span>on of th<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re resu<span class=\"_ _3\"></span>lts fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s could n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>y es<span class=\"_ _3\"></span>ti-mated at a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ear<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>out<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll f<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h profi<span class=\"_ _3\"></span>t and<span class=\"_ _3\"></span> loss a<span class=\"_ _3\"></span>t mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt over t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich en<span class=\"_ _3\"></span>ds May 25<span class=\"_ _3\"></span>, 2026. Per e<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>2, no p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s occur<span class=\"_ _3\"></span>red under this<span class=\"_ _0\"></span> earn<span class=\"_ _3\"></span>-out.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-163-6": {
   "value": "A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket pri<span class=\"_ _3\"></span>ce. For in<span class=\"_ _3\"></span>vest<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re pub<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cly qu<span class=\"_ _3\"></span>oted in a<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tive m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket, t<span class=\"_ _3\"></span>he qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (<span class=\"_ _3\"></span>level 1<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n un<span class=\"_ _3\"></span>realized l<span class=\"_ _3\"></span>oss of -2<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>oss is ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y a gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>bal s<span class=\"_ _3\"></span>tock m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in 2022 com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021. Fur<span class=\"_ _1\"></span>the<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a ne<span class=\"_ _3\"></span>w min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w regu<span class=\"_ _3\"></span>lator<span class=\"_ _1\"></span>y thre<span class=\"_ _3\"></span>sho<span class=\"_ _3\"></span>ld leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, wa<span class=\"_ _3\"></span>s ta<span class=\"_ _3\"></span>ken (14.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-out i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d a min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake w<span class=\"_ _3\"></span>as so<span class=\"_ _3\"></span>ld, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in i<span class=\"_ _3\"></span>n 2022, b<span class=\"_ _3\"></span>oth ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018oth<span class=\"_ _3\"></span>er in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d 0.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro ga<span class=\"_ _3\"></span>in reali<span class=\"_ _3\"></span>zed sin<span class=\"_ _3\"></span>ce the m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s unti<span class=\"_ _3\"></span>l divestment<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed in other <span class=\"_ _0\"></span>comprehensiv<span class=\"_ _0\"></span>e income r<span class=\"_ _0\"></span>eser<span class=\"_ _3\"></span>ve. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease in i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from 2020 to 2021 is re<span class=\"_ _3\"></span>lated to a sol<span class=\"_ _3\"></span>d min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low reg<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>d level<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le resu<span class=\"_ _3\"></span>lted in 55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in in 202<span class=\"_ _3\"></span>1, ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ine \u2018othe<span class=\"_ _3\"></span>r inves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>viti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d 25<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro gain rea<span class=\"_ _3\"></span>lized si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, whi<span class=\"_ _3\"></span>ch was ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds un<span class=\"_ _3\"></span>til d<span class=\"_ _3\"></span>ives<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve. T<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ted to 9.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e (2020: 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).At th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, Ba<span class=\"_ _3\"></span>rco\u2019s net ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on reach<span class=\"_ _3\"></span>es 26<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 45.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lower co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to las<span class=\"_ _3\"></span>t year (202<span class=\"_ _3\"></span>1: 309.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 193.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ve free c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (1<span class=\"_ _3\"></span>3 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), a num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease of B<span class=\"_ _3\"></span>arco's sha<span class=\"_ _3\"></span>re in Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic fro<span class=\"_ _3\"></span>m 55% to 80% and t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red sh<span class=\"_ _3\"></span>are in Gn<span class=\"_ _3\"></span>osco AB (<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), divi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>ut  (-2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>nd us<span class=\"_ _3\"></span>e of own s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s for s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). We refer to the s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, note 16 an<span class=\"_ _3\"></span>d note 1<span class=\"_ _3\"></span>1 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Of th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>, 30<span class=\"_ _3\"></span>6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is cas<span class=\"_ _3\"></span>h on t<span class=\"_ _3\"></span>he bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. A<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial f<span class=\"_ _3\"></span>lex<span class=\"_ _3\"></span>ibi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d with 82.5<span class=\"_ _0\"></span> million eur<span class=\"_ _0\"></span>o of<span class=\"_ _0\"></span> unused bilat<span class=\"_ _0\"></span>eral c<span class=\"_ _0\"></span>ommitted c<span class=\"_ _0\"></span>redit<span class=\"_ _0\"></span> facil<span class=\"ls4 ws4\">-</span>itie<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted grou<span class=\"_ _3\"></span>p of com<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rcial ba<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion to<span class=\"_ _0\"></span> significant liquidi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, Barc<span class=\"_ _0\"></span>o has a<span class=\"_ _0\"></span> well-balan<span class=\"_ _3\"></span>ced<span class=\"_ _0\"></span> debt pro<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>ile wit<span class=\"_ _3\"></span>h deb<span class=\"_ _3\"></span>t lim<span class=\"_ _3\"></span>ited to 43.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro of w<span class=\"_ _3\"></span>hich 1<span class=\"_ _3\"></span>1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro near<span class=\"_ _0\"></span>-term maturi<span class=\"_ _0\"></span>ties.Th<span class=\"_ _3\"></span>e net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 202<span class=\"_ _3\"></span>1 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts to 30<span class=\"_ _3\"></span>9.8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 116 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>ared to e<span class=\"_ _3\"></span>nd 2020, a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>itive f<span class=\"_ _3\"></span>ree c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (<span class=\"_ _3\"></span>78 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), sold inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), di<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds pa<span class=\"_ _3\"></span>id o<span class=\"_ _3\"></span>ut (-21 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy ba<span class=\"_ _3\"></span>ck pro<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>am ( -1<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and us<span class=\"_ _3\"></span>e of own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s for sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>eme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, n<span class=\"_ _3\"></span>ote 16 and n<span class=\"_ _3\"></span>ote 11 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re explanation.Changes in liabilities arising from financing activitiesNon-cash c<span class=\"_ _0\"></span>hangesIFR<span class=\"_ _3\"></span>S 16 <span class=\"_ _21\"></span> Fore<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>n excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro1 January 2022<span class=\"_ _fe\"> </span><span class=\"ls4 ws4\">C<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ows</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _5c\"> </span><span class=\"ls4 ws4\">A<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>ion / s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _e9\"> </span><span class=\"ls4 ws4\">31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022</span>Long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debtsLong-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b8\"> </span><span class=\"ff5 ls10a ws127\">16,<span class=\"_ _0\"></span>000<span class=\"_ _bc\"> </span><span class=\"ff4 lsed ws10a\">-2,173<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _8f\"> </span></span>172<span class=\"_ _d8\"> </span><span class=\"ls4 ws4\">2<span class=\"_ _e1\"> </span></span></span>1<span class=\"_ _0\"></span>4,000</span>Long-term lease liabilities<span class=\"_ _2a0\"> </span><span class=\"ff5 ls3c ws48\">18,<span class=\"_ _3\"></span>366<span class=\"_ _25c\"> </span></span>-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>16<span class=\"_ _7e\"> </span>1<span class=\"_ _0\"></span>0,134<span class=\"_ _b3\"> </span>-<span class=\"_ _144\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _bc\"> </span><span class=\"ff5 lsfb ws118\">18,<span class=\"_ _3\"></span>335</span></span>Short<span class=\"_ _0\"></span>-ter<span class=\"_ _0\"></span>m debtsShort-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b9\"> </span><span class=\"ff5 ls10a ws127\">2,000<span class=\"_ _b3\"> </span></span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _c0\"> </span><span class=\"ff5 ls10a ws127\">2,000</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _2ba\"> </span><span class=\"ff5 ls3c ws48\">8,218<span class=\"_ _d6\"> </span></span><span class=\"lsed ws10a\">999<span class=\"_ _90\"> </span></span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _d0\"> </span><span class=\"ff5 ls3c ws48\">9,217</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties from fi<span class=\"_ _0\"></span>nancing activities<span class=\"_ _3f\"> </span>44,585<span class=\"_ _65\"> </span>-1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _78\"> </span><span class=\"lse6 ws103\">10,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>4<span class=\"_ _8d\"> </span></span>172<span class=\"_ _1ef\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _bc\"> </span><span class=\"lsfb ws118\">43,552</span></span>Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es are to<span class=\"_ _3\"></span>geth<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>he lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s as sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l of cur<span class=\"_ _3\"></span>rent po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, as s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>.23. Cash flow statement: effect of acquisitions and disposalsTh<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ta<span class=\"_ _3\"></span>ble s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>is<span class=\"ls4 ws4\">-</span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t move<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _dc\"> </span><span class=\"ls16 ws1f\">Aquisitions 2022</span>Net<span class=\"_ _0\"></span>-identifiable<span class=\"_ _0\"></span> assets and liabilities<span class=\"_ _95\"> </span><span class=\"ls10b ws128\">-1,796</span>Know-<span class=\"_ _0\"></span>how on acquisit<span class=\"_ _0\"></span>ions<span class=\"_ _9a\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7</span>Put opt<span class=\"_ _0\"></span>ion non-controlling<span class=\"_ _0\"></span> interest<span class=\"_ _103\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>9</span>Acquired/<span class=\"_ _0\"></span>(sold) cash<span class=\"_ _113\"> </span><span class=\"ls3c ws48\">237</span>Purchase price<span class=\"_ _1ab\"> </span><span class=\"ls10a ws127\">4,000</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in 2022 rel<span class=\"_ _3\"></span>ates to a joi<span class=\"_ _3\"></span>nt vent<span class=\"_ _3\"></span>ure ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent with t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dis<span class=\"_ _3\"></span>h comp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co AB. We refer to no<span class=\"_ _3\"></span>te 1.<span class=\"_ _3\"></span>3 on acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s and d<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd to th<span class=\"_ _3\"></span>e Cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w sta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 2020.Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on of a forei<span class=\"_ _3\"></span>gn e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>re car<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d in ter<span class=\"_ _3\"></span>ms of h<span class=\"_ _3\"></span>istor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cost u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate at th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-166-4": {
   "value": "6. Income taxes(a) Tax positions taken in the financial statements and in the tax filings and how these are supported, as well as how the taxation authorities might make their examinations and how issues that might arise from examinations could be resolved, are reviewed. Based on this assessment, a deferred tax liability is determined in line with IFRIC 23. A reversal on the deferred tax liability is taken when the uncertain tax position is no longer in place as a result of an occurred tax examination or expiration of the examination period.(b) Includes withholding taxes on dividends received and tax impact of intragroup dividends that did not apply for a divi-dend received exemption regime to their full extent.(c) Deferred tax assets not recognized on tax losses/credits or tax losses/credits carried forward when assessment shows it is not probable that these tax benefits can be utilized in the near future, in 2021 and 2020 mainly in Barco NV (Belgium). Reference is made to note 10. In 2020, this also related to an impairment on the deferred tax assets set up in relation to tax losses carried forward in Barco Taiwan Technology Ltd., linked to the decision to close the factory and liquidate the legal entity.(d) Capital loss incurred on the liquidation of Barco Taiwan Technology Ltd. in 2021. In thousands of euro Note 2022 2021 2020Current versus deferred income taxesCurrent income taxes -13,301 -5,333 -6,886Deferred income taxes 10 -2,626 3,201 6,886Income taxes -15,927 -2,132 -Income taxes versus income before taxesEBIT 87,643 12,953 -4,332Interest income (expense) - net 843 -1,110 -121Income before taxes 88,486 11,843 -4,453Income taxes -15,927 -2,132 -Effective income tax rate % 18.0% 18.0% 0.0%Income before taxes 88,486 11,843 -4,453Theoretical tax rate % 25% 25% 25%Theoretical tax credit/(cost) -22,122 -2,961 1,113Innovation income deduction (IID) 6,518 5,224 5,302Effect of different tax rates in non-Belgian affiliates -523 546 968Uncertain tax treatment  (a) 60 280 1,840Income not taxed   Other income exempt from tax (mainly government grants) 2,758 1,706 2,141Non deductible expenses   Dividends received  (b) -90 -319 -4,265   Other non-deductible expenses -1,693 -2,038 -2,042Tax adjustments related to prior periods -773 -165 1,029Deferred tax assets, derecognized in current year (c) -420 -9,377 -6,895Set-up/use of deferred tax assets, not recognized in prior years 357 533 809Realized capital loss on investment in affiliates (d) - 4,439 -Taxes related to current income before taxes -15,927 -2,132 -10. Deferred tax assets \u2013 deferred tax liabilitiesThe deferred tax asset and liability balance comprises tempo-rary differences attributable to:Assets Liabilities Net asset/(liability)In thousands of euro 2022 2021 2020 2022 2021 2020 2022 2021 2020Tax value of tax credits 17,920 26,586 13,616 - - - 17,920 26,586 13,616Tax value of loss carry forwards 13,721 10,201 22,854 - - - 13,721 10,201 22,854Deferred revenue 10,227 9,961 5,082 - - -442 10,227 9,961 4,640Inventory 8,837 8,573 9,133 -211 -34 - 8,626 8,539 9,133Provisions 6,062 8,477 12,197 122 -32 -142 6,184 8,445 12,054Tangible fixed assets and software 1,580 2,031 1,734 -363 -678 -925 1,217 1,353 809Employee benefits 1,333 1,024 843 258 88 -525 1,591 1,112 318Trade debtors 416 362 407 - - - 416 362 407Other investments 54 319 797 - - - 54 319 797Capitalized development cost 6 - - - - - 6 - -Uncertain tax positions (IFRIC 23) - - - -3,060 -3,120 -3,400 -3,060 -3,120 -3,400Patents, licenses, ... - - - -5,704 -3,792 -3,688 -5,704 -3,792 -3,688Other items 852 435 589 -40 -68 -64 812 367 525Gross tax assets/(liabilities)61,008 67,969 67,253 -8,998 -7,636 -9,187 52,010 60,333 58,066Offset of tax-5,769 -3,814 -4,441 5,769 3,814 4,441 - - -Net tax assets/(liabilities)55,239 64,155 62,811 -3,229 -3,822 -4,745 52,010 60,333 58,066Movements in the deferred tax assets / (liabilities) arise from the following:Net deferred tax assets recognized primarily relate to the tax value of loss carry forwards (13.7 million euro), dividends received exemption (3.0 million euro), intellectual property regimes (13.5 million Euro) and other tax credits carried forward (1.4 million euro) primarily relate to Belgium. On top of these items for which a net deferred tax is recognized, the Group owns tax losses carried forward amounting to 70.3 million euro as of 31 December 2022 (80 million euro in 2021) for which a valuation allowance has been recorded (resulting in a valuation allowance of 18.3 million euro (20.8 million euro in 2021) on deferred tax assets recognized in relation to tax losses carried forward). A valuation allowance is recorded on these items because it is not probable that tax assets will be utilized within their statue of limitations or that taxable profit will be available in the near future against which the benefits can be utilized. The tax losses carried forward for which an allowance has been recorded have no expiration date.need to generate future taxable profit in the countries where the net operating losses and other items carried forward were incurred. Based upon the level of historical taxable income and projections for future taxable profit over the periods in which the deferred tax assets are deductible, management believes it is probable that the Group will be able to utilize these deferred tax assets.Barco has not recognized income taxes on undistributed earnings of its subsidiaries which will not be distributed in the foreseeable future. The cumulative amount of undistributed earnings (irrespective of tax treatment exemptions) on which the Group has not recognized income taxes was approximately 488 million euro per December 31, 2022 (2021: 504 million euro, 2020: 478 million euro).As at Recognized through Recognized  Exchange gains and As at  In thousands of euro1 January 2022 income statementthrough OCI Acquisitionslosses31 December 2022Tax value of tax credits 26,586 -8,687 - - 21 17,920Tax value of loss carry forwards 10,201 3,504 - - 16 13,721Deferred revenue 9,961 -328 - - 594 10,227Inventory 8,539 -163 - - 250 8,626Provisions 8,445 2,483 -4,599 - -146 6,184Employee benefits 1,112 478 - - 1 1,591Tangible fixed assets and software 1,353 -104 - - -32 1,217Trade debtors 362 40 - - 14 416Other investments 319 -285 - - 20 54Capitalized development cost - 6 - - - 6Uncertain tax positions (IFRIC 23) -3,120 60 - - - -3,060Patents, licenses, ... -3,792 -56 - -1,494 -362 -5,704Other items 367 425 - - 20 812Net deferred tax 60,333 -2,626 -4,599 -1,494 396 52,010In assessing the realization of deferred tax assets, management considers whether it is probable that some portion or all of the deferred tax assets will be realized within the foreseeable future. The ultimate realization of deferred tax assets is depen-dent upon the generation of future taxable profit during the periods in which those temporary differences become deduct-ible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable profit and foreseeable tax events in making this assessment. In 2020 and 2021, the covid-19 impact on future taxable profit was factored in in the realization assessment. A time period of 5 years is considered. In order to fully realize the deferred tax asset, the Group will ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-169-2": {
   "value": "7. Earnings per shareIn thousands of euro 2022 2021 2020Net income/(loss) attributable to the equity holder of the parent 75,219 8,881 -4,393Weighted average of shares 90,005,918 88,984,041 88,265,478Basic earnings per share 0.84 0.10 -0.05Net income/(loss) attributable to the equity holder of the parent 75,219 8,881 -4,393Weighted average of shares (diluted) 90,486,263 89,185,100 88,693,611Diluted earnings per share (a) 0.83 0.10 -0.05(a) The difference between the weighted average of shares and weighted average of shares (diluted) is due to exercisable stock options, which are in the money (which means that the closing rate of the Barco share was higher than the exercise price).   For more detailed information concerning the shares and stock options, we refer to note 16.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-172-3": {
   "value": "8. GoodwillIn thousands of euro 2022 2021 2020At cost 179,775 179,775 179,775Impairment 74,163 74,163 74,163Net book value 105,612 105,612 105,612There are no changes to goodwill in 2022, 2021 and 2020 and the impairment tests on goodwill in the 3 years did not result in any impairment.The test was performed on a cash-generating unit level by comparing each unit\u2019s carrying value, including goodwill, to its value-in-use. The value-in-use of each reporting unit was assessed using a discounted cash flow model based on management\u2019s revised budget on division level for the year and estimated long-term projections covering a five-year period. Consistently with its yearly impairment test, the Company adjusts the divisional management cash flow projections for future years to more conservative levels in view of the level of uncertainty. In 2020 and 2021, an appropriate level of conservatism was applied, to take into account covid-19 related uncertainty. For 2022 the high level of conservatism is again applied to be consistent with prior year testing. In 2022, 2021 and 2020, the outcome of the impairment tests on goodwill impairment tests performed did not result in any impairment loss.See below for explanations on the impairment testing performed.Goodwill by cash-generating unit On acquisition, goodwill acquired in a business combination is allocated to the cash-generating unit which is expected to ben-efit from that business combination. These cash-generating units correspond to the division level for Healthcare, Enterprise and Entertainment. Therefore, impairment testing is performed at the level of the cash-generating units as presented below.  The carrying amount of goodwill (after impairment) has been allocated to the cash-generating units as follows:Cash-generating units in thousands of euro 2022-2020Healthcare   28,263 Enterprise  41,785 Entertainment  35,564 Total goodwill (net book value)  105,612 The allocation remained the same over 2022, 2021 and 2020. The Group performed its annual impairment test in the fourth quarter of 2022 consistently with prior years.The Group looks at the relationship between its market cap-italization and its book value, amongst other factors, when reviewing the indicators of impairment. At 31 December 2022, the market capitalization of the Group was almost three times the amount of equity of the Group. As such, this general test does not show an indication for impairment.The annual impairment tests were performed for each cash-generating unit. The recoverable amount for each of the cash-generating units has been determined based on a value-in-use calculation using cash flow projections generated by management covering a five-year period. Due to the level of uncertainty of future years, these financial projections have been adjusted to more conservative levels for the purpose of our impairment testing.The pre-tax discount rate applied to projected cash flows is 10.1% (2021 and 2020: 8.7%) and cash flows beyond the five-year period are extrapolated using a conservative growth rate of 0% (2021: 0%, 2020: 0%).The amount by which the unit\u2019s recoverable amount exceeds its carrying amount is 151 million euro (142 million euro in 2021) in Healthcare, 130 million euro in Enterprise (97 million euro in 2021) and 106 million euro in Entertainment (42 million euro in 2021).The increase versus 2021 is the result of recovering markets after covid. The level of conservatism applied in the EBITDA % (average of the last 3 years) is consistent with prior years and include 2 covid impacted years (2020 and 2021). Despite the high level of conservatism applied, all three divisions have substantial headroom.A sensitivity analysis is performed on all cash-generating units with respect to the discount rate (see Sensitivity to changes in assumptions \u2013 Discount rate). For forward looking statements on sales and EBITDA, we refer to the company report of this annual report.The assumptions of the annual impairment test are consistent with external sources.For none of the cash-generating units management identified an impairment loss after the impairment test.Key assumptions used in value-in-use calculationsThe calculation of value-in-use for all cash-generating units is most sensitive to the following assumptions:\u2022  Sales growth rate used during the projection period;\u2022 EBITDA; \u2022  Growth rate used to extrapolate cash flows beyond the budget period;\u2022  Discount rate;The assumptions are shown in below table:Healthcare Enterprise EntertainmentSales growth rate used during the projection period 0.0% 0.0% 0.0%EBITDA as % of sales 11.2% 11.4% 9.2%Growth rate estimates 0.0% 0.0% 0.0%Discount rate 10.1% 10.1% 10.1%Sales growth rate used during the projection period \u2013 Sales growth rate used over the projected period has been kept conservatively at zero percent for all cash-generating units, since even then there is no risk for impairment. EBITDA as percentage of sales \u2013 EBITDA as percentage of sales is based on average percentages over the three years pre-ceding the start of the budget period for all divisions. The EBITDA percentage has been kept conservatively flat over the projected period, except for Entertainment, where as of 2024, the EBITDA percentage has been set back to pre-covid EBITDA level, using the 2019 EBITDA% (9.2%) it is more realistic to take the pre-covid EBITDA level of 2019 (9.2%) as of 2024.Growth rate estimates \u2013 The long-term rate used to extrapolate the projection has been kept conservatively at zero % for all cash-generating units.Discount rate \u2013 Discount rate reflects the current market assessment of the risks specific to Barco Group. The discount rate was estimated based on a (long-term) pre-tax cost of capital, the risks being implicit in the cash flows. It was deter-mined on group level.Sensitivity to changes in assumptionsPer 31 December 2022, only a change in EBITDA margin could result in impairment losses. The implications of the key assumptions for the recoverable amount are discussed below:EBITDA percentage on sales \u2013 Management has considered the possibility of lower than projected EBITDA percentages on sales. For Healthcare, Enterprise and Entertainment a reduction of the EBITDA percentage in the last year of the projected period of respectively more than 7%, 7% and 4% would result in an impairment. Discount rates \u2013 Management has considered the possibil-ity of a significant higher weighted average cost to test the sensitivity. For none of the cash-generating units this leads to an impairment. Growth rate estimate (beyond the projection period) \u2013 For all divisions, no reasonable possible change in the growth rate, used to extrapolate beyond the projection period, would result in an impairment.9.1 Other intangible assetsIn thousands of euro 2022 2021 2020Other Intangible  Customer Other assets under  SoftwareRelations Know-howIntangible Assetsconstruction Total Total TotalAt costOn 1 January 63,761 15,124 47,786 9,907 - 136,578 134,608 157,250Expenditure 489 - 1,733 - 1,614 3,836 1,230 1,951Sales and disposals -404 -5,453 -9,535 -4,702 - -20,094 -3,312 -8,064Acquisition of subsidiaries - - 7,607 - - 7,607 - -Transfers 1,552 - - - -1,552 - - -Translation (losses)/gains 600 147 -23 -5 - 719 4,052 -16,529On 31 December 65,998 9,818 47, 569 5,200 62 128,646 136,578 134,608Amortizations and impairmentOn 1 January 48,709 15,124 45,702 9,616 - 119,151 105,655 112,781Amortization 6,375 - 3,602 59 - 10,037 13,095 13,388Impairment - - - - - - - 3,500Sales and disposals -404 -5,453 -9,535 -4,702 - -20,094 -3,312 -7,953Translation (losses)/gains 23 147 159 -27 - 302 3,713 -16,061On 31 December 54,703 9,818 39,928 4,946 - 109,396 119,151 105,655Carrying amountOn 1 January 15,053 - 2,084 290 - 17,427 28,952 44,469On 31 December 11,296 - 7,640 253 62 19,251 17,427 28,952As a result of the Gnosco acquisition know-how for an amount of 7.6 million euro was acquired, which is amortized over 5 years. We refer to note 1.3 for more explanation on the net assets acquired. Barco\u2019s intangibles mainly include SAP ERP software and remaining book value of acquired know-how. In 2022, capital expenditures for intangible assets amount to 2.1 million euro (2021: 1.2 million euro, 2020: 2 million euro). Expenditures in 2022 and 2021 mainly related to new customer relationship management (CRM) software. Expenditures in 2020 were mainly related to SAP ERP software licenses.Disposals in 2022 and 2021 relate to fully amortized IT software which is no longer used.In 2020 the impairment test on acquired intangibles resulted in an impairment of 3.5 million euro on the acquired know-how for caresyntax.The impairment cost is included in research and development expenses in 2020.The group performed its annual impairment review on acquired intangibles in the fourth quarter of 2022 consistently with prior years. Special attention was paid to the potentialim-pacts of the macroeconomic environment. The test concluded no impairments. Barco does not hold intangible assets with indefinite lifetime.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-172-4": {
   "value": "8. GoodwillIn thousands of euro 2022 2021 2020At cost 179,775 179,775 179,775Impairment 74,163 74,163 74,163Net book value 105,612 105,612 105,612There are no changes to goodwill in 2022, 2021 and 2020 and the impairment tests on goodwill in the 3 years did not result in any impairment.The test was performed on a cash-generating unit level by comparing each unit\u2019s carrying value, including goodwill, to its value-in-use. The value-in-use of each reporting unit was assessed using a discounted cash flow model based on management\u2019s revised budget on division level for the year and estimated long-term projections covering a five-year period. Consistently with its yearly impairment test, the Company adjusts the divisional management cash flow projections for future years to more conservative levels in view of the level of uncertainty. In 2020 and 2021, an appropriate level of conservatism was applied, to take into account covid-19 related uncertainty. For 2022 the high level of conservatism is again applied to be consistent with prior year testing. In 2022, 2021 and 2020, the outcome of the impairment tests on goodwill impairment tests performed did not result in any impairment loss.See below for explanations on the impairment testing performed.Goodwill by cash-generating unit On acquisition, goodwill acquired in a business combination is allocated to the cash-generating unit which is expected to ben-efit from that business combination. These cash-generating units correspond to the division level for Healthcare, Enterprise and Entertainment. Therefore, impairment testing is performed at the level of the cash-generating units as presented below.  The carrying amount of goodwill (after impairment) has been allocated to the cash-generating units as follows:Cash-generating units in thousands of euro 2022-2020Healthcare   28,263 Enterprise  41,785 Entertainment  35,564 Total goodwill (net book value)  105,612 The allocation remained the same over 2022, 2021 and 2020. The Group performed its annual impairment test in the fourth quarter of 2022 consistently with prior years.The Group looks at the relationship between its market cap-italization and its book value, amongst other factors, when reviewing the indicators of impairment. At 31 December 2022, the market capitalization of the Group was almost three times the amount of equity of the Group. As such, this general test does not show an indication for impairment.The annual impairment tests were performed for each cash-generating unit. The recoverable amount for each of the cash-generating units has been determined based on a value-in-use calculation using cash flow projections generated by management covering a five-year period. Due to the level of uncertainty of future years, these financial projections have been adjusted to more conservative levels for the purpose of our impairment testing.The pre-tax discount rate applied to projected cash flows is 10.1% (2021 and 2020: 8.7%) and cash flows beyond the five-year period are extrapolated using a conservative growth rate of 0% (2021: 0%, 2020: 0%).The amount by which the unit\u2019s recoverable amount exceeds its carrying amount is 151 million euro (142 million euro in 2021) in Healthcare, 130 million euro in Enterprise (97 million euro in 2021) and 106 million euro in Entertainment (42 million euro in 2021).The increase versus 2021 is the result of recovering markets after covid. The level of conservatism applied in the EBITDA % (average of the last 3 years) is consistent with prior years and include 2 covid impacted years (2020 and 2021). Despite the high level of conservatism applied, all three divisions have substantial headroom.A sensitivity analysis is performed on all cash-generating units with respect to the discount rate (see Sensitivity to changes in assumptions \u2013 Discount rate). For forward looking statements on sales and EBITDA, we refer to the company report of this annual report.The assumptions of the annual impairment test are consistent with external sources.For none of the cash-generating units management identified an impairment loss after the impairment test.Key assumptions used in value-in-use calculationsThe calculation of value-in-use for all cash-generating units is most sensitive to the following assumptions:\u2022  Sales growth rate used during the projection period;\u2022 EBITDA; \u2022  Growth rate used to extrapolate cash flows beyond the budget period;\u2022  Discount rate;The assumptions are shown in below table:Healthcare Enterprise EntertainmentSales growth rate used during the projection period 0.0% 0.0% 0.0%EBITDA as % of sales 11.2% 11.4% 9.2%Growth rate estimates 0.0% 0.0% 0.0%Discount rate 10.1% 10.1% 10.1%Sales growth rate used during the projection period \u2013 Sales growth rate used over the projected period has been kept conservatively at zero percent for all cash-generating units, since even then there is no risk for impairment. EBITDA as percentage of sales \u2013 EBITDA as percentage of sales is based on average percentages over the three years pre-ceding the start of the budget period for all divisions. The EBITDA percentage has been kept conservatively flat over the projected period, except for Entertainment, where as of 2024, the EBITDA percentage has been set back to pre-covid EBITDA level, using the 2019 EBITDA% (9.2%) it is more realistic to take the pre-covid EBITDA level of 2019 (9.2%) as of 2024.Growth rate estimates \u2013 The long-term rate used to extrapolate the projection has been kept conservatively at zero % for all cash-generating units.Discount rate \u2013 Discount rate reflects the current market assessment of the risks specific to Barco Group. The discount rate was estimated based on a (long-term) pre-tax cost of capital, the risks being implicit in the cash flows. It was deter-mined on group level.Sensitivity to changes in assumptionsPer 31 December 2022, only a change in EBITDA margin could result in impairment losses. The implications of the key assumptions for the recoverable amount are discussed below:EBITDA percentage on sales \u2013 Management has considered the possibility of lower than projected EBITDA percentages on sales. For Healthcare, Enterprise and Entertainment a reduction of the EBITDA percentage in the last year of the projected period of respectively more than 7%, 7% and 4% would result in an impairment. Discount rates \u2013 Management has considered the possibil-ity of a significant higher weighted average cost to test the sensitivity. For none of the cash-generating units this leads to an impairment. Growth rate estimate (beyond the projection period) \u2013 For all divisions, no reasonable possible change in the growth rate, used to extrapolate beyond the projection period, would result in an impairment.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-172-5": {
   "value": "8. GoodwillIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>At cos<span class=\"_ _3\"></span>t<span class=\"_ _24b\"> </span><span class=\"lse3 ws100\">17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>1<span class=\"_ _3\"></span>79,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>5</span>Impairment<span class=\"_ _72\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _cc\"> </span>74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _22a\"> </span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3</span>Net book<span class=\"_ _0\"></span> value<span class=\"_ _1b6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>12<span class=\"_ _78\"> </span>10<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>61<span class=\"_ _3\"></span>2<span class=\"_ _78\"> </span>105<span class=\"_ _3\"></span>,61<span class=\"_ _3\"></span>2</span>Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re no cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es to go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll in 2022<span class=\"_ _3\"></span>, 2021 a<span class=\"_ _3\"></span>nd 2020 an<span class=\"_ _3\"></span>d the i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test<span class=\"_ _3\"></span>s on g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill i<span class=\"_ _3\"></span>n the 3 ye<span class=\"_ _3\"></span>ars d<span class=\"_ _3\"></span>id n<span class=\"_ _3\"></span>ot resu<span class=\"_ _3\"></span>lt in any impairment.Th<span class=\"_ _3\"></span>e test w<span class=\"_ _3\"></span>as p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d on a ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit le<span class=\"_ _3\"></span>vel by comp<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng ea<span class=\"_ _3\"></span>ch un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>\u2019s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e, inc<span class=\"_ _3\"></span>ludi<span class=\"_ _3\"></span>ng g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>, to it<span class=\"_ _3\"></span>s val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>se of ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit w<span class=\"_ _3\"></span>as as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g a disco<span class=\"_ _3\"></span>unted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>gem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s rev<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>d bu<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>et on di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion l<span class=\"_ _3\"></span>evel for t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r an<span class=\"_ _3\"></span>d es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns cover<span class=\"_ _3\"></span>ing a f<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od. Co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>stent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h it<span class=\"_ _3\"></span>s year<span class=\"_ _3\"></span>ly im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for fu<span class=\"_ _3\"></span>ture yea<span class=\"_ _3\"></span>rs to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, an ap<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ate level of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism wa<span class=\"_ _3\"></span>s ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, to ta<span class=\"_ _3\"></span>ke into accoun<span class=\"_ _3\"></span>t covid<span class=\"_ _3\"></span>-19 rel<span class=\"_ _3\"></span>ated un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>aint<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. Fo<span class=\"_ _3\"></span>r 2022 th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h leve<span class=\"_ _3\"></span>l of cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>atism i<span class=\"_ _3\"></span>s aga<span class=\"_ _3\"></span>in a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to be con<span class=\"_ _3\"></span>siste<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ar tes<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g. In 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020, th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e impairment t<span class=\"_ _0\"></span>ests on goodwill impairment t<span class=\"_ _0\"></span>ests per<span class=\"_ _3\"></span>formed did<span class=\"_ _0\"></span> not re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>.Se<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low for ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns on t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t testi<span class=\"_ _3\"></span>ng performed.Goodwill by cash-generating unit On a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on, g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red in a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is all<span class=\"_ _3\"></span>oca<span class=\"_ _3\"></span>ted to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g uni<span class=\"_ _3\"></span>t whi<span class=\"_ _3\"></span>ch is exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to be<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>efit<span class=\"_ _0\"></span> from tha<span class=\"_ _0\"></span>t business c<span class=\"_ _0\"></span>ombination.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>hese cas<span class=\"_ _0\"></span>h<span class=\"_ _3\"></span>-gen<span class=\"_ _3\"></span>erating<span class=\"_ _0\"></span> uni<span class=\"_ _3\"></span>ts cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d to th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n leve<span class=\"_ _3\"></span>l for He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _0\"></span>tertainment. Theref<span class=\"_ _0\"></span>ore, impairmen<span class=\"_ _0\"></span>t testing i<span class=\"_ _0\"></span>s per<span class=\"_ _3\"></span>formed at th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>low.  Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l (af<span class=\"_ _3\"></span>ter im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>) has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as foll<span class=\"_ _3\"></span>ows:Cash-genera<span class=\"_ _0\"></span>ting units<span class=\"_ _0\"></span> in thousands o<span class=\"_ _0\"></span>f euro<span class=\"_ _ed\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22-<span class=\"_ _0\"></span>2020</span>Healthcar<span class=\"_ _0\"></span>e <span class=\"_ _1de\"> </span><span class=\"lsde wsfb\"> 28,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>3 </span>Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _24c\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5 </span>Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _24d\"> </span><span class=\"ls4 ws4\"> 35,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>64 </span>T<span class=\"_ _0\"></span>otal goodwi<span class=\"_ _0\"></span>ll (net<span class=\"_ _0\"></span> book value)<span class=\"_ _1b6\"> </span><span class=\"lsf5 ws112\"> 105,612 </span>Th<span class=\"_ _3\"></span>e al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on rem<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e over 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d it<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>n the fo<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th quarter of<span class=\"_ _0\"></span> 2022<span class=\"_ _0\"></span> consist<span class=\"_ _0\"></span>ently wi<span class=\"_ _0\"></span>th prior years.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>s at th<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nsh<span class=\"_ _3\"></span>ip b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en it<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rket c<span class=\"_ _3\"></span>ap-ita<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d its b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue, a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>st ot<span class=\"_ _3\"></span>her f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>en revie<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ators of i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. At 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, the m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up was a<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>ost t<span class=\"_ _3\"></span>hree t<span class=\"_ _3\"></span>ime<span class=\"_ _3\"></span>s the a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup. A<span class=\"_ _3\"></span>s s<span class=\"_ _3\"></span>uch, t<span class=\"_ _3\"></span>his g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al tes<span class=\"_ _3\"></span>t do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot sho<span class=\"_ _3\"></span>w an in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>cati<span class=\"_ _3\"></span>on for i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d for ea<span class=\"_ _3\"></span>ch<span class=\"_ _0\"></span> cas<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e recove<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>le a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt for e<span class=\"_ _3\"></span>ach of the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on a val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>culat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n usin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rated<span class=\"_ _3\"></span> by ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent cove<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-ye<span class=\"_ _3\"></span>ar p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the l<span class=\"_ _3\"></span>evel of un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y of f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re years<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s have be<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>djus<span class=\"_ _3\"></span>ted to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e pur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e of our impairment testing.Th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed to p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows i<span class=\"_ _3\"></span>s 10.1<span class=\"_ _3\"></span>% (2021 a<span class=\"_ _3\"></span>nd 2020: 8.<span class=\"_ _3\"></span>7%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws b<span class=\"_ _3\"></span>eyon<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e five<span class=\"_ _1\"></span>-year p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d are ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ated usi<span class=\"_ _3\"></span>ng a co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h rate of 0% (202<span class=\"_ _3\"></span>1: 0%<span class=\"_ _3\"></span>, 2020: 0%<span class=\"_ _3\"></span>).Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt by wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e uni<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u2019s recovera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt e<span class=\"_ _3\"></span>xceeds it<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is 1<span class=\"_ _3\"></span>51 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (142 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>) in He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, 13<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n Enterp<span class=\"_ _3\"></span>rise (97 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) a<span class=\"_ _3\"></span>nd 106 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent (42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021).Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease ve<span class=\"_ _3\"></span>rsus 202<span class=\"_ _3\"></span>1 is th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of recoveri<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>evel of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA % (avera<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t 3 year<span class=\"_ _3\"></span>s) is consis<span class=\"_ _3\"></span>tent w<span class=\"_ _3\"></span>ith p<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>r yea<span class=\"_ _3\"></span>rs an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude 2 cov<span class=\"_ _3\"></span>id im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted yea<span class=\"_ _3\"></span>rs (2020 a<span class=\"_ _3\"></span>nd 2021<span class=\"_ _3\"></span>). Des<span class=\"_ _3\"></span>pite the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>h level o<span class=\"_ _3\"></span>f conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d, al<span class=\"_ _3\"></span>l thre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave substantial headroom.A sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lysi<span class=\"_ _3\"></span>s is pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (se<span class=\"_ _3\"></span>e Se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns \u2013 Dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate). F<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard lo<span class=\"_ _3\"></span>oki<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _3\"></span>, we refer to t<span class=\"_ _3\"></span>he com<span class=\"_ _3\"></span>pany re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>is annual r<span class=\"_ _0\"></span>epo<span class=\"_ _3\"></span>rt.Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t are cons<span class=\"_ _3\"></span>isten<span class=\"_ _3\"></span>t with e<span class=\"_ _0\"></span>x<span class=\"_ _3\"></span>ternal<span class=\"_ _0\"></span> sourc<span class=\"_ _0\"></span>es<span class=\"_ _3\"></span>.For none<span class=\"_ _0\"></span> of the cash-generating units management<span class=\"_ _0\"></span> identified an impairment<span class=\"_ _0\"></span> loss after<span class=\"_ _0\"></span> the impairment t<span class=\"_ _0\"></span>est.Ke<span class=\"_ _0\"></span>y assumptions used in<span class=\"_ _0\"></span> value-in-use cal<span class=\"_ _0\"></span>culationsTh<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>-i<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>use for a<span class=\"_ _3\"></span>ll ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit<span class=\"_ _3\"></span>s is mos<span class=\"_ _3\"></span>t se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>ive to th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns:\u2022 <span class=\"_ _141\"> </span>S<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d dur<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d;\u2022 EBIT<span class=\"_ _3\"></span>DA; \u2022 <span class=\"_ _2a\"> </span>Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to extr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate cash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he budget period<span class=\"_ _0\"></span>;\u2022 <span class=\"_ _141\"> </span>D<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate;Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re show<span class=\"_ _3\"></span>n in b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le:Healt<span class=\"_ _0\"></span>hcare<span class=\"_ _14b\"> </span><span class=\"ls16 ws1f\">Enterprise<span class=\"_ _55\"> </span><span class=\"ls1f ws29\">Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inme<span class=\"_ _3\"></span>nt</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d<span class=\"_ _24e\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _24f\"> </span>11.<span class=\"_ _3\"></span>2%<span class=\"_ _6e\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>1.<span class=\"_ _3\"></span>4%<span class=\"_ _235\"> </span><span class=\"lsfc ws119\">9.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%</span></span>Gro<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>tes<span class=\"_ _250\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _80\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%<span class=\"_ _6e\"> </span>10.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _70\"> </span>10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%</span>Sal<span class=\"_ _3\"></span>es gr<span class=\"_ _3\"></span>owth r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d duri<span class=\"_ _3\"></span>ng the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>riod<span class=\"ff4 ls4d wsa1\"> \u2013 S<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> </span>grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate used ov<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od ha<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>en kep<span class=\"_ _3\"></span>t conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>ly at zero pe<span class=\"_ _3\"></span>rcent for al<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its<span class=\"_ _3\"></span>, sin<span class=\"_ _3\"></span>ce even th<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no ri<span class=\"_ _3\"></span>sk for i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. EBITDA a<span class=\"_ _3\"></span>s per<span class=\"_ _3\"></span>cent<span class=\"_ _3\"></span>age of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls28\"> <span class=\"_ _0\"></span>\u2013 EBI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>DA as pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s </span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree yea<span class=\"_ _3\"></span>rs p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cedi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f the b<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d for a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ke<span class=\"_ _3\"></span>pt cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ativ<span class=\"_ _3\"></span>ely f<span class=\"_ _3\"></span>lat ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ere as of 2024, the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>et back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA level<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he 2019 EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>% (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) it is m<span class=\"_ _3\"></span>ore real<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic to ta<span class=\"_ _3\"></span>ke the p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA leve<span class=\"_ _3\"></span>l of 2019 (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) as of 2024.Grow<span class=\"_ _3\"></span>th rate estim<span class=\"_ _3\"></span>ates<span class=\"ff4 ls2a ws39\"> \u2013 The lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>late </span>the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n kept con<span class=\"_ _3\"></span>ser<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely at zero % for a<span class=\"_ _3\"></span>ll cash-<span class=\"_ _3\"></span>generating uni<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s.Disco<span class=\"_ _3\"></span>unt rate \u2013 Dis<span class=\"_ _3\"></span>coun<span class=\"_ _3\"></span>t rate refl<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic to Ba<span class=\"_ _3\"></span>rco Group<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>count rate wa<span class=\"_ _3\"></span>s est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a (lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm) pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x cost of ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>ein<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>cit in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. It w<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n grou<span class=\"_ _3\"></span>p leve<span class=\"_ _3\"></span>l.Sensitivity to<span class=\"_ _0\"></span> changes in assumptionsPer 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, on<span class=\"_ _3\"></span>ly a ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>e in EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n could re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt a<span class=\"_ _3\"></span>re discu<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>elow<span class=\"_ _3\"></span>:EBITDA p<span class=\"_ _3\"></span>erc<span class=\"_ _3\"></span>enta<span class=\"_ _3\"></span>ge on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls20 ws38\"> \u2013 Management has<span class=\"_ _0\"></span> consider<span class=\"_ _0\"></span>ed </span>the p<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y of lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted EBI<span class=\"_ _3\"></span>TDA p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s. For H<span class=\"_ _3\"></span>ealth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a re<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ast ye<span class=\"_ _3\"></span>ar of t<span class=\"_ _3\"></span>he pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vely m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 7<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, 7% a<span class=\"_ _3\"></span>nd 4% wo<span class=\"_ _3\"></span>uld re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n an impairment. Disco<span class=\"_ _3\"></span>unt rates<span class=\"ff4 ls2e wse\"> \u2013 Management<span class=\"_ _0\"></span> has c<span class=\"_ _0\"></span>onsidered<span class=\"_ _0\"></span> the possibil<span class=\"ls4 ws4\">-</span></span>it<span class=\"_ _3\"></span>y of a si<span class=\"_ _3\"></span>gnif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er we<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e cost to tes<span class=\"_ _3\"></span>t the sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y. For no<span class=\"_ _3\"></span>ne o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s this l<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>s to an im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate estim<span class=\"_ _3\"></span>ate (beyo<span class=\"_ _3\"></span>nd the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d)<span class=\"ff4 ws39\"> \u2013 For al<span class=\"_ _3\"></span>l </span>div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, no rea<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate, use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, wo<span class=\"_ _3\"></span>uld res<span class=\"_ _3\"></span>ult in an impairment.10. Deferred tax assets \u2013 deferred tax liabilitiesTh<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>rise<span class=\"_ _3\"></span>s temp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>rar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tributable t<span class=\"_ _0\"></span>o:As<span class=\"_ _3\"></span>sets<span class=\"_ _207\"> </span><span class=\"ls6e wsc0\">Liabilities<span class=\"_ _225\"> </span>Net asset/(<span class=\"_ _0\"></span>liabilit<span class=\"_ _3\"></span>y)</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020<span class=\"_ _6e\"> </span>2022<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020<span class=\"_ _6e\"> </span>2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020</span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1d7\"> </span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>0<span class=\"_ _4b\"> </span><span class=\"ls109 ws126\">26,586<span class=\"_ _ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,616<span class=\"_ _d0\"> </span></span></span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _9c\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>0<span class=\"_ _4b\"> </span><span class=\"ls109 ws126\">26,586<span class=\"_ _9c\"> </span><span class=\"lsf4 ws111\">13<span class=\"_ _3\"></span>,616</span></span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>s<span class=\"_ _1ca\"> </span>13,721<span class=\"_ _10c\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>01<span class=\"_ _1a8\"> </span><span class=\"lsed ws10a\">22,854<span class=\"_ _d0\"> </span></span></span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _8c\"> </span>1<span class=\"_ _3\"></span>3,721<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>201<span class=\"_ _1a8\"> </span><span class=\"lsed ws10a\">22,85<span class=\"_ _3\"></span>4</span></span>Def<span class=\"_ _3\"></span>erre<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e<span class=\"_ _197\"> </span>10,<span class=\"_ _3\"></span>227<span class=\"_ _60\"> </span>9,9<span class=\"_ _3\"></span>61<span class=\"_ _10\"> </span>5,082<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>42<span class=\"_ _10c\"> </span></span>10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>27<span class=\"_ _60\"> </span><span class=\"lsdd wsfa\">9,96<span class=\"_ _3\"></span>1<span class=\"_ _40\"> </span><span class=\"lsfb ws118\">4,6<span class=\"_ _3\"></span>40</span></span>Inv<span class=\"_ _3\"></span>ento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _229\"> </span>8,837<span class=\"_ _70\"> </span>8,57<span class=\"_ _3\"></span>3<span class=\"_ _60\"> </span><span class=\"lse3 ws100\">9,1<span class=\"_ _3\"></span>33<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-211<span class=\"_ _ad\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>4<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span><span class=\"lsf0 ws10d\">8<span class=\"_ _3\"></span>,626<span class=\"_ _255\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>539<span class=\"_ _60\"> </span></span></span></span></span></span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>33</span>Provisions<span class=\"_ _15b\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,062<span class=\"_ _6e\"> </span><span class=\"lse7 ws104\">8,<span class=\"_ _3\"></span>47<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>97<span class=\"_ _ad\"> </span><span class=\"ls109 ws126\">122<span class=\"_ _ad\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>2<span class=\"_ _63\"> </span><span class=\"lsdc wsf9\">-142<span class=\"_ _6e\"> </span></span></span></span></span></span>6,18<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"lsfe ws11b\">8,4<span class=\"_ _3\"></span>45<span class=\"_ _178\"> </span></span>1<span class=\"_ _3\"></span>2,05<span class=\"_ _3\"></span>4</span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re<span class=\"_ _cd\"> </span>1,58<span class=\"_ _3\"></span>0<span class=\"_ _6e\"> </span>2<span class=\"_ _3\"></span>,031<span class=\"_ _60\"> </span>1<span class=\"_ _3\"></span>,73<span class=\"_ _3\"></span>4<span class=\"_ _1a4\"> </span>-363<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>678<span class=\"_ _8e\"> </span>-92<span class=\"_ _3\"></span>5<span class=\"_ _100\"> </span><span class=\"lsed ws10a\">1,217<span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">1,<span class=\"_ _3\"></span>353<span class=\"_ _6a\"> </span></span>809</span>Empl<span class=\"_ _3\"></span>oyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>its<span class=\"_ _197\"> </span>1<span class=\"_ _3\"></span>,333<span class=\"_ _60\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>024<span class=\"_ _65\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _11\"> </span>258<span class=\"_ _7e\"> </span>88<span class=\"_ _1a4\"> </span><span class=\"ls131 ws161\">-<span class=\"_ _3\"></span>525<span class=\"_ _71\"> </span></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591<span class=\"_ _68\"> </span><span class=\"ls133 ws162\">1<span class=\"_ _3\"></span>,11<span class=\"_ _3\"></span>2<span class=\"_ _73\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>8</span></span>T<span class=\"_ _0\"></span>rade debt<span class=\"_ _0\"></span>ors<span class=\"_ _206\"> </span><span class=\"ls103 ws120\">416<span class=\"_ _65\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _11\"> </span></span>4<span class=\"_ _3\"></span>07<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _ad\"> </span></span>416<span class=\"_ _11\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _65\"> </span></span>407</span>Other investments<span class=\"_ _25b\"> </span>54<span class=\"_ _73\"> </span>319<span class=\"_ _ad\"> </span>797<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _de\"> </span></span>54<span class=\"_ _73\"> </span><span class=\"lsde wsfb\">319<span class=\"_ _25c\"> </span><span class=\"lsdd wsfa\">797</span></span>Capitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment co<span class=\"_ _0\"></span>st<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">6<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _c0\"> </span>6<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-</span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (I<span class=\"_ _3\"></span>FRI<span class=\"_ _3\"></span>C 23<span class=\"_ _3\"></span>)<span class=\"_ _b6\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _151\"> </span>-3,0<span class=\"_ _3\"></span>60<span class=\"_ _8c\"> </span>-3,<span class=\"_ _3\"></span>120<span class=\"_ _151\"> </span><span class=\"lsda wsf7\">-3,400<span class=\"_ _178\"> </span></span>-3<span class=\"_ _3\"></span>,060<span class=\"_ _8c\"> </span><span class=\"ls138 ws167\">-3<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>20<span class=\"_ _151\"> </span><span class=\"lsda wsf7\">-<span class=\"_ _0\"></span>3,400</span></span>Patents, licenses, .<span class=\"_ _0\"></span>..<span class=\"_ _25d\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _ff\"> </span><span class=\"lse0 wsfd\">-5<span class=\"_ _3\"></span>,704<span class=\"_ _8c\"> </span>-3<span class=\"_ _3\"></span>,792<span class=\"_ _10c\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,688<span class=\"_ _ff\"> </span></span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,704<span class=\"_ _8c\"> </span>-3<span class=\"_ _3\"></span>,792<span class=\"_ _10c\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,688</span></span>Other it<span class=\"_ _0\"></span>ems<span class=\"_ _248\"> </span>852<span class=\"_ _65\"> </span><span class=\"lse7 ws104\">43<span class=\"_ _3\"></span>5<span class=\"_ _11\"> </span><span class=\"lse9 ws106\">589<span class=\"_ _73\"> </span></span></span>-40<span class=\"_ _73\"> </span>-<span class=\"_ _3\"></span>68<span class=\"_ _73\"> </span>-64<span class=\"_ _73\"> </span>812<span class=\"_ _73\"> </span><span class=\"ls3c ws48\">367<span class=\"_ _11\"> </span><span class=\"ls131 ws161\">52<span class=\"_ _3\"></span>5</span></span>Gross tax asse<span class=\"_ _0\"></span>ts/(liabilities<span class=\"_ _0\"></span>)61,0<span class=\"_ _3\"></span>08<span class=\"_ _4b\"> </span>67<span class=\"_ _0\"></span>,969<span class=\"_ _178\"> </span><span class=\"ls199 wsd9\">6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _4b\"> </span></span>-8,998<span class=\"_ _9c\"> </span>-7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _9c\"> </span>-9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>87<span class=\"_ _4b\"> </span>5<span class=\"_ _3\"></span>2,010<span class=\"_ _3a\"> </span><span class=\"lsfb ws118\">60,<span class=\"_ _3\"></span>333<span class=\"_ _46\"> </span><span class=\"ls139 ws168\">58,066</span></span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x-<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>769<span class=\"_ _54\"> </span><span class=\"lsdc wsf9\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>14<span class=\"_ _9c\"> </span><span class=\"ls103 ws120\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _6e\"> </span></span></span>5<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>9<span class=\"_ _6e\"> </span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>814<span class=\"_ _60\"> </span>4,4<span class=\"_ _3\"></span>41<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-</span>Net tax assets/(liabili<span class=\"_ _3\"></span>ties)55,<span class=\"_ _3\"></span>239<span class=\"_ _4b\"> </span><span class=\"lsfb ws118\">64,<span class=\"_ _3\"></span>155<span class=\"_ _178\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _3\"></span>,811<span class=\"_ _151\"> </span><span class=\"ls10d ws12a\">-3,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _151\"> </span>-3,<span class=\"_ _1\"></span>82<span class=\"_ _3\"></span>2<span class=\"_ _10c\"> </span><span class=\"ls107 ws124\">-<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _4b\"> </span><span class=\"lse6 ws103\">52<span class=\"_ _3\"></span>,010<span class=\"_ _3a\"> </span></span></span></span></span>60,<span class=\"_ _3\"></span>333<span class=\"_ _46\"> </span><span class=\"ls139 ws168\">58,066</span></span>Move<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e defer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s / (li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ies) a<span class=\"_ _3\"></span>rise f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g:Net d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s recogn<span class=\"_ _3\"></span>ized pr<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y rela<span class=\"_ _3\"></span>te to the ta<span class=\"_ _3\"></span>x val<span class=\"_ _3\"></span>ue of los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rds (1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds recei<span class=\"_ _3\"></span>ved exe<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion (<span class=\"_ _3\"></span>3.0 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), intel<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y regi<span class=\"_ _3\"></span>mes (<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n Euro) and o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r ta<span class=\"_ _3\"></span>x credit<span class=\"_ _3\"></span>s c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ied fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd (1<span class=\"_ _3\"></span>.4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) pri<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>ily re<span class=\"_ _3\"></span>late to Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um. O<span class=\"_ _3\"></span>n top of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se items for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch a net d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax is reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up owns t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed for<span class=\"_ _1\"></span>ward a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unti<span class=\"_ _3\"></span>ng to 70.<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro as o<span class=\"_ _3\"></span>f 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 (8<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) for whi<span class=\"_ _3\"></span>ch a va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n record<span class=\"_ _3\"></span>ed (res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n a val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce of 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (20.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in 2021<span class=\"_ _3\"></span>) on d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized i<span class=\"_ _3\"></span>n relat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to tax loss<span class=\"_ _3\"></span>es c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd). A valu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>lowa<span class=\"_ _3\"></span>nce is reco<span class=\"_ _3\"></span>rded o<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span>se item<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use it is n<span class=\"_ _3\"></span>ot p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>e uti<span class=\"_ _3\"></span>lized wit<span class=\"_ _3\"></span>hin t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir st<span class=\"_ _3\"></span>atu<span class=\"_ _3\"></span>e of li<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le in t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ear f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>n be ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x los<span class=\"_ _3\"></span>ses c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch an all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ce has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n record<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>ave no ex<span class=\"_ _3\"></span>pir<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on da<span class=\"_ _3\"></span>te.ne<span class=\"_ _3\"></span>ed to ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rate fu<span class=\"_ _3\"></span>ture ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit i<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>untr<span class=\"_ _3\"></span>ies w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re the n<span class=\"_ _3\"></span>et op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng los<span class=\"_ _3\"></span>ses a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r items c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd were incu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>. Bas<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>evel of h<span class=\"_ _3\"></span>isto<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re tax<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s in whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s are d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le, ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>gem<span class=\"_ _3\"></span>ent be<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>ves it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>le to uti<span class=\"_ _3\"></span>lize the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>eferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s.Barco ha<span class=\"_ _3\"></span>s not reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed incom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes o<span class=\"_ _3\"></span>n und<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uted ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs of it<span class=\"_ _3\"></span>s su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch wil<span class=\"_ _3\"></span>l not b<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e forese<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>e cum<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tive a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of u<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs (ir<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve of ta<span class=\"_ _3\"></span>x treatm<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xemp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns) on w<span class=\"_ _3\"></span>hich the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has n<span class=\"_ _3\"></span>ot recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e taxe<span class=\"_ _3\"></span>s was a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roximate<span class=\"_ _3\"></span>ly 48<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro p<span class=\"_ _3\"></span>er D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 31, 202<span class=\"_ _3\"></span>2 (2021: 50<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro, 2020: 478 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro).A<span class=\"_ _3\"></span>s at Reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh Rec<span class=\"_ _0\"></span>ognized<span class=\"_ _0\"></span> <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exc<span class=\"_ _3\"></span>han<span class=\"_ _3\"></span>ge g<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>s at <span class=\"_ _21\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro1 Jan<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2022 income<span class=\"_ _0\"></span> statementthro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>h OCI<span class=\"_ _73\"> </span><span class=\"ls9f wsbe\">Acquisitions</span>losses31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _248\"> </span>26,586<span class=\"_ _90\"> </span><span class=\"ls138 ws167\">-8<span class=\"_ _3\"></span>,687<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"ls139 ws168\">21<span class=\"_ _cb\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>0</span></span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>s<span class=\"_ _126\"> </span>10,20<span class=\"_ _3\"></span>1<span class=\"_ _1f4\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>504<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _252\"> </span><span class=\"lsda wsf7\">13,721</span></span>Def<span class=\"_ _3\"></span>erre<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e<span class=\"_ _25f\"> </span>9,9<span class=\"_ _3\"></span>61<span class=\"_ _20a\"> </span><span class=\"lsde wsfb\">-328<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _c9\"> </span><span class=\"lse7 ws104\">594<span class=\"_ _90\"> </span></span></span>10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>27</span>Inv<span class=\"_ _3\"></span>ento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1f8\"> </span>8,<span class=\"_ _3\"></span>539<span class=\"_ _1f1\"> </span>-163<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _c9\"> </span><span class=\"ls89 wsa4\">250<span class=\"_ _1f4\"> </span><span class=\"lsf0 ws10d\">8<span class=\"_ _3\"></span>,626</span></span>Provisions<span class=\"_ _23c\"> </span>8<span class=\"_ _3\"></span>,445<span class=\"_ _1d0\"> </span>2,4<span class=\"_ _3\"></span>83<span class=\"_ _b3\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>599<span class=\"_ _25e\"> </span>-<span class=\"_ _260\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"lsfb ws118\">6,184</span></span>Empl<span class=\"_ _3\"></span>oyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>its<span class=\"_ _261\"> </span>1,1<span class=\"_ _3\"></span>12<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">478<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _1b7\"> </span>1<span class=\"_ _22\"> </span></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591</span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re<span class=\"_ _205\"> </span>1,<span class=\"_ _3\"></span>353<span class=\"_ _20a\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>4<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _e3\"> </span><span class=\"lsf5 ws112\">-32<span class=\"_ _2b\"> </span><span class=\"lsed ws10a\">1,<span class=\"_ _3\"></span>217</span></span>T<span class=\"_ _0\"></span>rade debt<span class=\"_ _0\"></span>ors<span class=\"_ _199\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _5b\"> </span></span>40<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _e2\"> </span><span class=\"ls103 ws120\">416</span></span>Other investments<span class=\"_ _204\"> </span>31<span class=\"_ _3\"></span>9<span class=\"_ _20a\"> </span>-285<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _263\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _263\"> </span><span class=\"ls1b2 ws284\">54</span></span>Capitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment co<span class=\"_ _0\"></span>st<span class=\"_ _264\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _265\"> </span>6<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _265\"> </span>6</span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (I<span class=\"_ _3\"></span>FRI<span class=\"_ _3\"></span>C 23<span class=\"_ _3\"></span>)<span class=\"_ _205\"> </span>-3,1<span class=\"_ _3\"></span>20<span class=\"_ _5b\"> </span><span class=\"lsed ws10a\">60<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _39\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,060</span>Patents, licenses, .<span class=\"_ _0\"></span>..<span class=\"_ _48\"> </span><span class=\"lse0 wsfd\">-3,<span class=\"_ _3\"></span>792<span class=\"_ _e2\"> </span><span class=\"ls10b ws128\">-56<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _252\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,49<span class=\"_ _3\"></span>4<span class=\"_ _20a\"> </span><span class=\"lsf5 ws112\">-362<span class=\"_ _90\"> </span></span></span></span></span>-<span class=\"_ _3\"></span>5,70<span class=\"_ _3\"></span>4</span>Other it<span class=\"_ _0\"></span>ems<span class=\"_ _200\"> </span>367<span class=\"_ _c9\"> </span>425<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _263\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _262\"> </span><span class=\"ls89 wsa4\">81<span class=\"_ _3\"></span>2</span></span>Net deferred tax<span class=\"_ _266\"> </span>60,<span class=\"_ _3\"></span>333<span class=\"_ _39\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>62<span class=\"_ _3\"></span>6<span class=\"_ _39\"> </span>-4,599<span class=\"_ _b3\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lsfe ws11b\">396<span class=\"_ _30\"> </span><span class=\"lse6 ws103\">5<span class=\"_ _3\"></span>2,010</span></span>In as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>heth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>t is prob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>at so<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l of the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>alized w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>in th<span class=\"_ _3\"></span>e fores<span class=\"_ _3\"></span>eea<span class=\"_ _3\"></span>ble fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he ult<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>te realizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s is de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nt up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit d<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e periods in<span class=\"_ _0\"></span> which those<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences bec<span class=\"_ _0\"></span>om<span class=\"_ _3\"></span>e deduct<span class=\"_ _0\"></span><span class=\"ls4 ws4\">-</span>ible. M<span class=\"_ _0\"></span>anagem<span class=\"_ _3\"></span>ent c<span class=\"_ _0\"></span>onsiders the s<span class=\"_ _0\"></span>cheduled re<span class=\"_ _0\"></span>versal of de<span class=\"_ _0\"></span>ferred ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>eab<span class=\"_ _3\"></span>le ta<span class=\"_ _3\"></span>x event<span class=\"_ _3\"></span>s in m<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>his as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n fu<span class=\"_ _3\"></span>ture t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit w<span class=\"_ _3\"></span>as fa<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>red in i<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span> reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. A tim<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od of 5 yea<span class=\"_ _3\"></span>rs is co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>dere<span class=\"_ _3\"></span>d. In ord<span class=\"_ _3\"></span>er to fu<span class=\"_ _3\"></span>lly rea<span class=\"_ _3\"></span>lize the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p wil<span class=\"_ _3\"></span>l 12. InventoryIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _75\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _252\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _90\"> </span>2020</span>Raw<span class=\"_ _0\"></span> materials and<span class=\"_ _0\"></span> consumables<span class=\"_ _27b\"> </span>1<span class=\"_ _3\"></span>20,610<span class=\"_ _144\"> </span><span class=\"lse0 wsfd\">9<span class=\"_ _3\"></span>0,1<span class=\"_ _3\"></span>39<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>8,053</span></span>Wor<span class=\"_ _3\"></span>k in p<span class=\"_ _3\"></span>rog<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>s<span class=\"_ _27c\"> </span>79,9<span class=\"_ _3\"></span>93<span class=\"_ _49\"> </span><span class=\"lse9 ws106\">6<span class=\"_ _3\"></span>4,38<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">5<span class=\"_ _3\"></span>7<span class=\"_ _0\"></span>,97<span class=\"_ _3\"></span>2</span></span>Finished goo<span class=\"_ _3\"></span>ds<span class=\"_ _27d\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>23<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _d3\"> </span>92<span class=\"_ _3\"></span>,931<span class=\"_ _8f\"> </span><span class=\"lsfe ws11b\">122,4<span class=\"_ _3\"></span>08</span></span>Writ<span class=\"_ _0\"></span>e<span class=\"_ _3\"></span>-off on inven<span class=\"_ _0\"></span>tories<span class=\"_ _15a\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _47\"> </span><span class=\"ls42 ws6f\">-71,957<span class=\"_ _88\"> </span></span>-7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>43</span>Inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y<span class=\"_ _27e\"> </span>245<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>4<span class=\"_ _8f\"> </span><span class=\"ls131 ws161\">175,496<span class=\"_ _8d\"> </span><span class=\"ls139 ws168\">175,390</span></span>Inventory turns<span class=\"_ _21a\"> </span><span class=\"lsfb ws118\">2.1<span class=\"_ _140\"> </span>2.4<span class=\"_ _267\"> </span>2.<span class=\"_ _3\"></span>3</span>Incre<span class=\"_ _3\"></span>ase in i<span class=\"_ _3\"></span>nventor<span class=\"_ _1\"></span>y (<span class=\"_ _0\"></span>+ 4<span class=\"_ _3\"></span>0%) com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 2021 is li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es vol<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>e (<span class=\"_ _0\"></span>+ 31<span class=\"_ _3\"></span>.6%) an<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>crease in co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent pri<span class=\"_ _3\"></span>ces (14%). Furt<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r due to th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, s<span class=\"_ _3\"></span>afet<span class=\"_ _3\"></span>y buf<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rs we<span class=\"_ _3\"></span>re stocke<span class=\"_ _3\"></span>d for a n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f sca<span class=\"_ _3\"></span>rce comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d add<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>urcha<span class=\"_ _3\"></span>ses we<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>n of up<span class=\"_ _3\"></span>comi<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce increas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds are hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y in cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a an<span class=\"_ _3\"></span>d dia<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ost<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>, a resu<span class=\"_ _3\"></span>lt of ca<span class=\"_ _3\"></span>paci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y ra<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>up a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter comp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l be redu<span class=\"_ _3\"></span>ced w<span class=\"_ _3\"></span>hen d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g out of t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rb<span class=\"_ _3\"></span>ook<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult tur<span class=\"_ _3\"></span>ns rem<span class=\"_ _3\"></span>ain lo<span class=\"_ _3\"></span>w at 2.1<span class=\"_ _3\"></span>. In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es vol<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e four<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter (+<span class=\"_ _2\"></span>2<span class=\"_ _3\"></span>9% yoy), fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>antl<span class=\"_ _3\"></span>y comp<span class=\"_ _3\"></span>ared to 2020, w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>as of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y, cause<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ergi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d sem<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>ply s<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>rcit<span class=\"_ _3\"></span>y has resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n accele<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r raw m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al pr<span class=\"_ _3\"></span>ices (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 18). T<span class=\"_ _2\"></span>ot<span class=\"_ _3\"></span>al inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y t<span class=\"_ _3\"></span>urns re<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. Inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>ls i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any va<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>ating segment within Barc<span class=\"_ _0\"></span>o. Operating segme<span class=\"_ _3\"></span>nts selling more hard<span class=\"_ _3\"></span>ware p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re or p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ales generally ha<span class=\"_ _0\"></span>ve higher in<span class=\"_ _0\"></span>ventory lev<span class=\"_ _0\"></span>el<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t were im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ost by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s, En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd H<span class=\"_ _3\"></span>ealt<span class=\"_ _3\"></span>hc<span class=\"_ _3\"></span>are sh<span class=\"_ _3\"></span>ow the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>t increa<span class=\"_ _3\"></span>se in r<span class=\"_ _3\"></span>aw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. For Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds increa<span class=\"_ _3\"></span>sed m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nly d<span class=\"_ _3\"></span>ue to recover<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>rice in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>), but a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ly du<span class=\"_ _3\"></span>e to lag<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>rom Chi<span class=\"_ _3\"></span>na cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f covid lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>.Incre<span class=\"_ _3\"></span>ase in i<span class=\"_ _3\"></span>nventor<span class=\"_ _1\"></span>y in Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se is li<span class=\"_ _3\"></span>nked to hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s, turns r<span class=\"_ _0\"></span>emained stable.In 2021<span class=\"_ _3\"></span>, ra<span class=\"_ _3\"></span>w mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s inv<span class=\"_ _3\"></span>entor<span class=\"_ _1\"></span>y increa<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>hre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as a resu<span class=\"_ _3\"></span>lt of acce<span class=\"_ _3\"></span>ler<span class=\"_ _3\"></span>ated p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>iew of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd En<span class=\"_ _3\"></span>terpr<span class=\"_ _3\"></span>ise t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n raw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y was of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by a h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed goods inv<span class=\"_ _0\"></span>entory<span class=\"_ _0\"></span>, thanks t<span class=\"_ _0\"></span>o higher fourth quart<span class=\"_ _0\"></span>er sales than i<span class=\"_ _0\"></span>n 2020. In He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>as in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s, n<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>t to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nt sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>age<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>d raw m<span class=\"_ _3\"></span>ater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s upf<span class=\"_ _3\"></span>ront un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e form of a l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t-ti<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>uy ord<span class=\"_ _3\"></span>er fo<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nts fo<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>r deci<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to stop th<span class=\"_ _3\"></span>e pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. We refer to chapte<span class=\"_ _3\"></span>r \u2018Criti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ju<span class=\"_ _3\"></span>dge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d key sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re expl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on on the i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>acro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic en<span class=\"_ _3\"></span>viro<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>ntInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>izab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ce for sl<span class=\"_ _3\"></span>ow-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y is b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on con<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>tently a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f r<span class=\"_ _3\"></span>ule<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich depend on both<span class=\"_ _0\"></span> historical and<span class=\"_ _0\"></span> future demand.In 2022 w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized as e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le at 0.7<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2021<span class=\"_ _3\"></span>.In 2020, wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs we<span class=\"_ _3\"></span>re imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic an<span class=\"_ _3\"></span>d resu<span class=\"_ _3\"></span>lted in hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized as ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse (1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 1.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les). 19. ProvisionsBa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce<span class=\"ls4 ws4\"> </span>AdditionalAmo<span class=\"_ _3\"></span>untsUnu<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts Remeasur<span class=\"_ _0\"></span>ement T<span class=\"_ _0\"></span>ranslation Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nceIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroshe<span class=\"_ _3\"></span>et 2022provis<span class=\"_ _0\"></span>ions madeuse<span class=\"_ _3\"></span>d rever<span class=\"_ _3\"></span>sed<span class=\"_ _c2\"> </span><span class=\"ls7c ws96\">T<span class=\"_ _0\"></span>ransfers</span>gains/<span class=\"_ _0\"></span>(losses) on<span class=\"_ _0\"></span> DBO(losses)<span class=\"_ _0\"></span> / gainsshe<span class=\"_ _3\"></span>et 2021she<span class=\"_ _3\"></span>et 2020T<span class=\"_ _0\"></span>otal long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> provision<span class=\"_ _be\"> </span>14,99<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>3,3<span class=\"_ _3\"></span>92<span class=\"_ _10c\"> </span>-<span class=\"_ _0\"></span>1,23<span class=\"_ _0\"></span>3<span class=\"_ _1d1\"> </span>-<span class=\"_ _25c\"> </span>-7<span class=\"_ _1\"></span>8<span class=\"_ _88\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _73\"> </span>137<span class=\"_ _10c\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>75<span class=\"_ _3a\"> </span><span class=\"ls109 ws126\">40,156</span></span>Defined<span class=\"_ _0\"></span> benefit<span class=\"_ _0\"></span> obligation<span class=\"_ _0\"></span>s <span class=\"_ _a3\"> </span><span class=\"fs7b fc0 ls138 ws167\">(<span class=\"_ _3\"></span>b)</span>4,891<span class=\"_ _e1\"> </span>1,<span class=\"_ _3\"></span>529<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,01<span class=\"_ _3\"></span>9<span class=\"_ _28b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1ef\"> </span></span>-18,<span class=\"_ _3\"></span>395<span class=\"_ _25c\"> </span>-<span class=\"_ _3\"></span>49<span class=\"_ _4b\"> </span><span class=\"lsf0 ws10d\">2<span class=\"_ _3\"></span>2,8<span class=\"_ _3\"></span>26<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>10,0<span class=\"_ _3\"></span>87<span class=\"_ _e1\"> </span>1,862<span class=\"_ _63\"> </span>-21<span class=\"_ _3\"></span>5<span class=\"_ _28b\"> </span>-<span class=\"_ _81\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _28b\"> </span></span>-<span class=\"_ _25c\"> </span>185<span class=\"_ _255\"> </span><span class=\"lsee ws10b\">8,<span class=\"_ _3\"></span>332<span class=\"_ _255\"> </span><span class=\"ls42 ws6f\">8,857</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>20<span class=\"_ _44\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _101\"> </span>2<span class=\"_ _e1\"> </span><span class=\"lsfb ws118\">18<span class=\"_ _bc\"> </span>18</span>T<span class=\"_ _0\"></span>otal short<span class=\"_ _0\"></span>-t<span class=\"_ _0\"></span>erm provision<span class=\"_ _cc\"> </span>9,<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>5<span class=\"_ _7e\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4<span class=\"_ _151\"> </span>-2,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _e1\"> </span>78<span class=\"_ _1d1\"> </span>-<span class=\"_ _7e\"> </span>89<span class=\"_ _10\"> </span><span class=\"ls89 wsa4\">8,<span class=\"_ _3\"></span>537<span class=\"_ _4b\"> </span><span class=\"ls36 ws40\">13,720</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>4,<span class=\"_ _3\"></span>816<span class=\"_ _1b0\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>161<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>285<span class=\"_ _28b\"> </span>-<span class=\"_ _e1\"> </span><span class=\"lsea ws107\">78<span class=\"_ _230\"> </span></span><span class=\"ff5\">-<span class=\"_ _e1\"> </span></span>55<span class=\"_ _10\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>807<span class=\"_ _70\"> </span><span class=\"lsdd wsfa\">4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2</span></span>Restructuring<span class=\"_ _0\"></span> provis<span class=\"_ _0\"></span>ion <span class=\"_ _96\"> </span><span class=\"fs7b fc0 lsf0 ws10d\">(c)</span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>2,500<span class=\"_ _10\"> </span>-1,2<span class=\"_ _0\"></span>11<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1d1\"> </span><span class=\"ff5\">-<span class=\"_ _d0\"> </span></span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">458<span class=\"_ _7b\"> </span><span class=\"lsef ws10c\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>2,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,083<span class=\"_ _9c\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>208<span class=\"_ _1ed\"> </span>-1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>20<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _103\"> </span><span class=\"ff5\">-<span class=\"_ _7e\"> </span></span><span class=\"ls108 ws125\">34<span class=\"_ _70\"> </span><span class=\"lsf5 ws112\">4,<span class=\"_ _3\"></span>272<span class=\"_ _255\"> </span></span></span></span></span>5,055</span>Provisions<span class=\"_ _2a7\"> </span>24,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _7e\"> </span>8,1<span class=\"_ _3\"></span>36<span class=\"_ _10c\"> </span>-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>7<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _d7\"> </span>-<span class=\"_ _ae\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _11\"> </span>226<span class=\"_ _151\"> </span><span class=\"lse7 ws104\">39,71<span class=\"_ _3\"></span>2<span class=\"_ _4b\"> </span><span class=\"ls89 wsa4\">53,<span class=\"_ _3\"></span>876</span></span>(a)<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>echnical warrantyProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for techn<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y are b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l dat<span class=\"_ _3\"></span>a of the c<span class=\"_ _0\"></span>ost incurr<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> repairs and r<span class=\"_ _0\"></span>eplacements. There ar<span class=\"_ _0\"></span>e thr<span class=\"_ _0\"></span>ee differ<span class=\"_ _0\"></span>ent tec<span class=\"_ _0\"></span>hnical warranty pr<span class=\"_ _0\"></span>ovisions<span class=\"_ _0\"></span>: pro<span class=\"_ _0\"></span>visions r<span class=\"_ _0\"></span>elated t<span class=\"_ _0\"></span>o \u2018st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard<span class=\"_ _3\"></span>\u2019 (mo<span class=\"_ _3\"></span>stl<span class=\"_ _3\"></span>y 2 year<span class=\"_ _3\"></span>s) warr<span class=\"_ _3\"></span>ant<span class=\"_ _1\"></span>y per<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons re<span class=\"_ _3\"></span>lated to ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed wa<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns for sp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>fic cl<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ms/issues. (b)<span class=\"_ _0\"></span> Defined benefit obliga<span class=\"_ _0\"></span>tionsA<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, the d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it obligation<span class=\"_ _0\"></span>s are<span class=\"_ _0\"></span> composed<span class=\"_ _0\"></span> of:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _2a8\"> </span>732<span class=\"_ _4b\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span> <span class=\"_ _4e\"> </span></span> 26,1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>0 Early r<span class=\"_ _0\"></span>etirement<span class=\"_ _0\"></span> plans in Belgi<span class=\"_ _0\"></span>um<span class=\"_ _2a9\"> </span>104<span class=\"_ _6a\"> </span><span class=\"ls4 ws4\"> 155 <span class=\"_ _235\"> </span> 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3 </span>Local l<span class=\"_ _0\"></span>egal requir<span class=\"_ _0\"></span>ements (mainly<span class=\"_ _0\"></span> Italy,<span class=\"_ _0\"></span> Korea,<span class=\"_ _0\"></span> Japan, Germany<span class=\"_ _0\"></span>, F<span class=\"_ _0\"></span>rance)<span class=\"_ _118\"> </span>3<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"lse7 ws104\"> 4,59<span class=\"_ _3\"></span>0 <span class=\"_ _151\"> </span><span class=\"ls4 ws4\"> 4,75<span class=\"_ _3\"></span>4 </span></span>A small<span class=\"_ _0\"></span> number of i<span class=\"_ _0\"></span>ndividual plans<span class=\"_ _2aa\"> </span>293<span class=\"_ _63\"> </span><span class=\"lsf7 ws114\"> 246<span class=\"_ _3\"></span> <span class=\"_ _235\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>25 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _2ab\"> </span>4,891<span class=\"_ _4a\"> </span><span class=\"ls4 ws4\"> 22<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>26 <span class=\"_ _52\"> </span><span class=\"ls19a ws26f\"> 31,2<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span> </span></span>Belgian r<span class=\"_ _0\"></span>egulations r<span class=\"_ _0\"></span>equire tha<span class=\"_ _0\"></span>t the minimum<span class=\"_ _0\"></span> guaranteed ra<span class=\"_ _0\"></span>te of retur<span class=\"_ _3\"></span>n on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer a<span class=\"_ _3\"></span>nd p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>ant con<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing to 1<span class=\"_ _3\"></span>.75%<span class=\"_ _3\"></span>, is an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ally re<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a risk-<span class=\"_ _3\"></span>fre<span class=\"_ _3\"></span>e rate of 10<span class=\"_ _3\"></span>-y<span class=\"_ _3\"></span>ear g<span class=\"_ _3\"></span>overn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt bo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>ccordin<span class=\"_ _3\"></span>g to IA<span class=\"_ _3\"></span>S19, Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at gu<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>ntee a sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d retur<span class=\"_ _3\"></span>n on contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer<span class=\"_ _3\"></span> is not re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>onsi<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>ut ha<span class=\"_ _3\"></span>s to cover th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t risk u<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>l the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l mi<span class=\"_ _3\"></span>nim<span class=\"_ _3\"></span>um ra<span class=\"_ _3\"></span>tes ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cable. The r<span class=\"_ _0\"></span>eturns guaran<span class=\"_ _0\"></span>teed by<span class=\"_ _0\"></span> the insurance<span class=\"_ _0\"></span> companies are in m<span class=\"_ _3\"></span>ost c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um retu<span class=\"_ _3\"></span>rn gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed by l<span class=\"_ _3\"></span>aw. As a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as not f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ly he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s retur<span class=\"_ _3\"></span>n risk t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh a<span class=\"_ _3\"></span>n insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d a prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>eds to b<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>nted for. The p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns at Ba<span class=\"_ _3\"></span>rco are fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ced thro<span class=\"_ _3\"></span>ugh g<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>nsur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s are b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span><span class=\"ws4\">-</span>fit<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g from a con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d by the i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. When t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, th<span class=\"_ _3\"></span>is wi<span class=\"_ _3\"></span>ll be cove<span class=\"_ _3\"></span>red by the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>is is ins<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e req<span class=\"_ _3\"></span>ues<span class=\"_ _3\"></span>ted. IA<span class=\"_ _3\"></span>S 19 re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>res an e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y to reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ze a liabi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n an emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to be pa<span class=\"_ _3\"></span>id in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>erefore, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns are set<span class=\"_ _3\"></span>up. T<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured o<span class=\"_ _3\"></span>n a dis<span class=\"_ _3\"></span>counte<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use th<span class=\"_ _3\"></span>ey a<span class=\"_ _3\"></span>re set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d many ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>r the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice. A q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y has d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are he<span class=\"_ _3\"></span>ld by an i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. The p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted u<span class=\"_ _3\"></span>nit cred<span class=\"_ _3\"></span>it me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d was u<span class=\"_ _3\"></span>sed to es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mate th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, the d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it cos<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re 15 de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s in Ba<span class=\"_ _3\"></span>rco Belg<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m, for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch we sh<span class=\"_ _3\"></span>ow be<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>e a<span class=\"_ _3\"></span>ggre<span class=\"_ _3\"></span>gated v<span class=\"_ _3\"></span>iew a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>o not d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>fer mat<span class=\"_ _0\"></span>erially fr<span class=\"_ _0\"></span>om characteri<span class=\"_ _0\"></span>stics<span class=\"_ _3\"></span>, r<span class=\"_ _0\"></span>egulatory environment,<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt or f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ar<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. I<span class=\"_ _3\"></span>n accord<span class=\"_ _3\"></span>ance w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>AS 19 th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re is in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f a wei<span class=\"_ _3\"></span>ghted ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge.2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>an d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f pl<span class=\"_ _3\"></span>an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s:2022<span class=\"_ _2ac\"> </span>2021<span class=\"_ _2ac\"> </span>2020De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroobligationassetsliabilityobligationassetsliabilityobligationassetsliabilityPen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on co<span class=\"_ _3\"></span>st c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d to P/LOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _256\"> </span>13<span class=\"_ _3\"></span>0,<span class=\"_ _1\"></span>214<span class=\"_ _12e\"> </span>-112,37<span class=\"_ _0\"></span>8<span class=\"_ _c3\"> </span><span class=\"ff5 ls199 wsd9\">1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _e7\"> </span></span> 134,340<span class=\"_ _0\"></span> <span class=\"_ _c5\"> </span><span class=\"ls106 ws123\"> -108<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>50 <span class=\"_ _4c\"> </span><span class=\"ff5 ls4 ws4\"> 26<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>90 <span class=\"_ _e7\"> </span></span><span class=\"lsf7 ws114\"> 1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> <span class=\"_ _c5\"> </span></span> -100<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>5 <span class=\"_ _1a0\"> </span><span class=\"ff5 ls167 ws22d\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>31 </span></span>Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce cos<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"ls89 wsa4\">5,575<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _51\"> </span><span class=\"ff5 lsee ws10b\">5,<span class=\"_ _3\"></span>575<span class=\"_ _d4\"> </span></span> 5<span class=\"_ _3\"></span>,639 <span class=\"_ _71\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 5,<span class=\"_ _3\"></span>639 <span class=\"_ _17e\"> </span></span><span class=\"ls19c ws271\"> 7,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _7b\"> </span></span>-<span class=\"_ _53\"> </span><span class=\"ff5 ls199 wsd9\"> 7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span>Net i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _f4\"> </span>987<span class=\"_ _f\"> </span>-<span class=\"_ _3\"></span>862<span class=\"_ _3d\"> </span><span class=\"ff5 ls10e ws12b\">126<span class=\"_ _fe\"> </span></span> 3<span class=\"_ _3\"></span>88 <span class=\"_ _51\"> </span><span class=\"lsde wsfb\"> -<span class=\"_ _3\"></span>310 <span class=\"_ _3d\"> </span></span><span class=\"ff5\"> 78 <span class=\"_ _b8\"> </span></span> 5<span class=\"_ _3\"></span>85 <span class=\"_ _4f\"> </span><span class=\"lsef ws10c\"> -<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span> <span class=\"_ _147\"> </span><span class=\"ff5 ls1a2 ws275\"> 111 </span></span>Decrea<span class=\"_ _0\"></span>se due t<span class=\"_ _0\"></span>o curtailement<span class=\"_ _27c\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s<span class=\"_ _202\"> </span>6,562<span class=\"_ _b8\"> </span>-862<span class=\"_ _bd\"> </span><span class=\"ls10e ws12b\">5,701<span class=\"_ _17e\"> </span></span> 6<span class=\"_ _3\"></span>,026 <span class=\"_ _4f\"> </span><span class=\"ls10d ws12a\"> -310<span class=\"_ _3\"></span> <span class=\"_ _c4\"> </span></span> 5,<span class=\"_ _3\"></span>716 <span class=\"_ _37\"> </span> 8<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>3 <span class=\"_ _98\"> </span><span class=\"ls107 ws124\"> -<span class=\"_ _3\"></span>474<span class=\"_ _3\"></span> <span class=\"_ _df\"> </span><span class=\"lsde wsfb\"> 8,039 </span></span>Benefits paid<span class=\"_ _1db\"> </span>-3,030<span class=\"_ _4f\"> </span>3,030<span class=\"_ _6c\"> </span><span class=\"ff5 ls4 ws4\">-<span class=\"_ _18c\"> </span></span> -2,<span class=\"_ _3\"></span>383 <span class=\"_ _df\"> </span> 2,383 <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _37\"> </span></span> -1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285 <span class=\"_ _c3\"> </span> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285<span class=\"_ _3\"></span> <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _8\"> </span>-   </span>Remeasurement gains<span class=\"_ _0\"></span>/losses in OCIIncre<span class=\"_ _0\"></span>ase due t<span class=\"_ _0\"></span>o effect o<span class=\"_ _0\"></span>f transfers<span class=\"_ _21d\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _6e\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _8\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Ret<span class=\"_ _3\"></span>urn o<span class=\"_ _3\"></span>n p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (exc<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>t inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e)<span class=\"_ _140\"> </span>-<span class=\"_ _53\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _17e\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _1a4\"> </span>-<span class=\"_ _37\"> </span><span class=\"lsde wsfb\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>231 <span class=\"_ _14c\"> </span></span><span class=\"ls36 ws40\"> -<span class=\"_ _0\"></span>2,231 <span class=\"_ _7b\"> </span><span class=\"ff4 ls4 ws4\">-<span class=\"_ _37\"> </span> -2,7<span class=\"_ _3\"></span>33 <span class=\"_ _f9\"> </span></span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 </span></span>Ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m cha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>pt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _294\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>72<span class=\"_ _8e\"> </span></span>-<span class=\"_ _14c\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _df\"> </span></span><span class=\"ls3c ws48\"> -5,679 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 lse3 ws100\"> -5<span class=\"_ _3\"></span>,67<span class=\"_ _3\"></span>9 <span class=\"_ _c3\"> </span></span> 1,69<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>698 </span>Actuarial<span class=\"_ _0\"></span> changes arising<span class=\"_ _0\"></span> from experienc<span class=\"_ _0\"></span>e adjustments<span class=\"_ _107\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>14<span class=\"_ _1a4\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _17e\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _37\"> </span></span><span class=\"lsfe ws11b\"> -2,091 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>1 <span class=\"_ _10f\"> </span></span> 99<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _fe\"> </span><span class=\"ff5\"> 99<span class=\"_ _3\"></span>8 </span></span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in O<span class=\"_ _3\"></span>CI<span class=\"_ _2ad\"> </span>-<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>,186<span class=\"_ _c4\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _fd\"> </span>-<span class=\"_ _0\"></span>18,395<span class=\"_ _df\"> </span> -<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> <span class=\"_ _14c\"> </span> -<span class=\"_ _0\"></span>2,<span class=\"_ _3\"></span>231<span class=\"_ _0\"></span> <span class=\"_ _5a\"> </span> -<span class=\"_ _2\"></span>10,000<span class=\"_ _0\"></span> <span class=\"_ _149\"> </span> 2<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>6 <span class=\"_ _f9\"> </span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 <span class=\"_ _fe\"> </span><span class=\"ls10d ws12a\"> -3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> </span></span>Contributions by<span class=\"_ _0\"></span> emp<span class=\"_ _3\"></span>loyer<span class=\"_ _2ae\"> </span>-<span class=\"_ _37\"> </span>-<span class=\"_ _3\"></span>4,409<span class=\"_ _18c\"> </span><span class=\"ff5 ls131 ws161\">-<span class=\"_ _3\"></span>4,409<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _18c\"> </span><span class=\"ls103 ws120\"> -<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,070<span class=\"_ _3\"></span> <span class=\"_ _108\"> </span></span><span class=\"ff5\"> -<span class=\"_ _3\"></span>4,070 <span class=\"_ _71\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"lse7 ws104\"> -<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 <span class=\"_ _108\"> </span><span class=\"ff5 lsfc ws119\"> -6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 </span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>60<span class=\"_ _f1\"> </span>-<span class=\"_ _0\"></span>115,828<span class=\"_ _4a\"> </span>732<span class=\"_ _e7\"> </span> 1<span class=\"_ _3\"></span>30,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14 <span class=\"_ _ea\"> </span> -1<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span> <span class=\"_ _f9\"> </span> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _59\"> </span> 134,340 <span class=\"_ _ee\"> </span><span class=\"ls109 ws126\"> -1<span class=\"_ _0\"></span>08,1<span class=\"_ _3\"></span>50 <span class=\"_ _14e\"> </span><span class=\"ls4 ws4\"> 26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>190 </span></span>Th<span class=\"_ _3\"></span>e 17 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n2022 ver<span class=\"_ _3\"></span>sus 202<span class=\"_ _3\"></span>1 is ma<span class=\"_ _3\"></span>inly re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d vi<span class=\"_ _3\"></span>a oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>siveinco<span class=\"_ _3\"></span>me as c<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>sed by ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters (s<span class=\"_ _3\"></span>ee b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le):incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate (3.7<span class=\"_ _3\"></span>% vs 0.<span class=\"_ _3\"></span>8%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>edme<span class=\"_ _3\"></span>rit a<span class=\"_ _3\"></span>nd in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in 2022 a<span class=\"_ _3\"></span>nd 2023<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e 8.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in 2021 ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s2020 is mai<span class=\"_ _3\"></span>nly co<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>sed d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (0.<span class=\"_ _3\"></span>8% vs0.<span class=\"_ _3\"></span>3%) a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve retur<span class=\"_ _3\"></span>n on p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, bot<span class=\"_ _3\"></span>h record<span class=\"_ _3\"></span>edvia O<span class=\"_ _3\"></span>CI (eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y), as ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e P&amp;L im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of\u20ac -1.<span class=\"_ _3\"></span>8m is t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult of low<span class=\"_ _3\"></span>er di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>t rate ver<span class=\"_ _3\"></span>sus m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mumgua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s to be com<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sate<span class=\"_ _3\"></span>d by the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer.In 2020, 2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro net in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in P&amp;L is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>heincrea<span class=\"_ _3\"></span>sed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cost a<span class=\"_ _3\"></span>s a result of a l<span class=\"_ _3\"></span>ow disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to the m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>teed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retur<span class=\"_ _3\"></span>n, forwhi<span class=\"_ _3\"></span>ch ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted.  Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>re ful<span class=\"_ _3\"></span>lyinves<span class=\"_ _3\"></span>ted in i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. In 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e tar<span class=\"_ _3\"></span>get as<span class=\"_ _3\"></span>set m<span class=\"_ _3\"></span>ixdid n<span class=\"_ _3\"></span>ot cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021 an<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s of 67<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>50%gove<span class=\"_ _3\"></span>rnm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t bo<span class=\"_ _3\"></span>nds<span class=\"_ _3\"></span>, 14% real es<span class=\"_ _3\"></span>tate, 7<span class=\"_ _0\"></span>.5% cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>rate b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ds, 6%corporat<span class=\"_ _0\"></span>e loans<span class=\"_ _0\"></span> and 5% s<span class=\"_ _0\"></span>hares.Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:(c) Restr<span class=\"_ _3\"></span>uctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>nSe<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span> standards on<span class=\"_ _0\"></span> provi<span class=\"_ _0\"></span>sions incl<span class=\"_ _0\"></span>uding pro<span class=\"_ _0\"></span>visions<span class=\"_ _0\"></span> on restructuring.(d) Oth<span class=\"_ _3\"></span>er cl<span class=\"_ _3\"></span>aim<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d risk<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>is prov<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on rel<span class=\"_ _3\"></span>ates to dis<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>s with s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng li<span class=\"_ _3\"></span>tig<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tions and<span class=\"_ _0\"></span> specific cust<span class=\"_ _0\"></span>omer warranty disput<span class=\"_ _0\"></span>es. Barc<span class=\"_ _0\"></span>o cannot provi<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on th<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s, as t<span class=\"_ _3\"></span>his cou<span class=\"_ _3\"></span>ld ca<span class=\"_ _3\"></span>use co<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>siderable harm<span class=\"_ _0\"></span> to Bar<span class=\"_ _0\"></span>co in<span class=\"_ _0\"></span> the particular dispu<span class=\"_ _0\"></span>tes.With re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ect to th<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s rela<span class=\"_ _3\"></span>ted to form<span class=\"_ _3\"></span>er acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>ere is o<span class=\"_ _3\"></span>ne ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut ca<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ed at 1<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lin<span class=\"_ _3\"></span>ked to th<span class=\"_ _3\"></span>e retenti<span class=\"_ _3\"></span>on of th<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re resu<span class=\"_ _3\"></span>lts fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s could n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>y es<span class=\"_ _3\"></span>ti-mated at a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ear<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>out<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll f<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h profi<span class=\"_ _3\"></span>t and<span class=\"_ _3\"></span> loss a<span class=\"_ _3\"></span>t mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt over t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich en<span class=\"_ _3\"></span>ds May 25<span class=\"_ _3\"></span>, 2026. Per e<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>2, no p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s occur<span class=\"_ _3\"></span>red under this<span class=\"_ _0\"></span> earn<span class=\"_ _3\"></span>-out.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-194-4": {
   "value": "LeasesThis note provides more information for leases where the Group is a lessee.The balance sheet shows the following amounts relating to leases:In thousands of euro 2022 2021 2020Buildings Vehicles Total Total TotalOn 1 January 37,534 9,387 46,922 39,013 37,965New leases or extensions of current leases 7,599 3,387 10,986 10,702 11,000Termination of leases -4,892 -1,695 -6,586 -4,403 -8,290Translation (losses)/gains -78 -40 -117 1,611 -1,663On 31 December 40,164 11,041 51,205 46,922 39,013Depreciation and impairmentOn 1 January -16,680 -4,439 -21,119 -14,415 -9,948Depreciation -6,936 -2,604 -9,539 -10,023 -10,334Termination of leases 2,608 1,533 4,141 3,956 5,372Translation (losses)/gains 123 23 146 -636 495On 31 December -20,884 -5,487 -26,371 -21,119 -14,415Right-of-use assetsOn 1 January 20,855 4,949 25,803 24,598 28,017On 31 December 19,280 5,554 24,834 25,803 24,598Additions to the right-of-use assets during 2022 were 11 mil-lion euro (2021: 10.7 million euro; 2020: 11 million euro) split over leased buildings (2022: 7.6 million euro; 2021: 9 million euro) and leased vehicles (2022: 3.4 million euro; 2021: 1.7 million euro). The additions are both renewals of existing lease agreements as well as new lease agreements in US, Sweden and South Korea over a lease period of respectively 2 years, 3 years and 5 years.We refer to note 14 for more information on the lease liabilities.The statement of profit or loss shows the following amounts relating to leases:The total cash outflow for leases in 2022 was 9.2 million euro (2021: 9.7 million euro; 2020: 10.8 million euro).In thousands of euro 31 DEC 2022 31 DEC 2021 31 DEC 2020Buildings -6,936 -7,591 -7,944Vehicles -2,604 -2,433 -2,390Total depreciation charge of right-of-use assets -9,539 -10,023 -10,334Interest expense (included in finance cost) -1,072 -1,066 -1,000Expense relating to short-term leases 0 -17 -41Expense relating to leases of low-value assets that are not shown above as short-term leases -19 -24 -26The lease liabilities per 31 December are as follows:In thousands of euro 2022 2021 2020On 1 January 26,482 24,929 28,259New leases or extensions of current leases 10,991 10,702 11,000Payments or termination of leases -10,060 -10,159 -13,132Translation (losses)/gains 45 1,011 -1,199Total lease liabilities on 31 December 27,458 26,482 24,929Current 9,217 8,218 7,187Non-current 18,241 18,264 17,742Changes in liabilities arising from financing activitiesNon-cash changesIFRS 16  Foreign exchange In thousands of euro1 January 2022 Cash flowsmovements Acquisition / salemovement 31 December 2022Long-term debtsLong-term liabilities 16,000 -2,173 - 172 2 14,000Long-term lease liabilities 18,366 -10,216 10,134 - 51 18,335Short-term debtsShort-term liabilities 2,000 - - - - 2,000Short-term lease liabilities 8,218 999 - - - 9,217Total liabilities from financing activities 44,585 -11,391 10,134 172 53 43,552The long-term liabilities and lease liabilities are together the long-term debts as shown in the balance sheet. The short-term liabilities are the total of current portion of long-term debts and short-term debts, as shown in the balance sheet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-197-6": {
   "value": "The statement of profit or loss shows the following amounts relating to leases:The total cash outflow for leases in 2022 was 9.2 million euro (2021: 9.7 million euro; 2020: 10.8 million euro).In thousands of euro 31 DEC 2022 31 DEC 2021 31 DEC 2020Buildings -6,936 -7,591 -7,944Vehicles -2,604 -2,433 -2,390Total depreciation charge of right-of-use assets -9,539 -10,023 -10,334Interest expense (included in finance cost) -1,072 -1,066 -1,000Expense relating to short-term leases 0 -17 -41Expense relating to leases of low-value assets that are not shown above as short-term leases -19 -24 -26",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-209-5": {
   "value": "11. Investments and interest in associatesInvestments include entities in which Barco owns less than 20% of the shares. These are accounted for as fair value through profit and loss or other comprehensive income instruments, as determined at moment of initial recognition, which implies that the Group measures these investments on a fair value basis with differences in fair value reflected in profit and loss or other comprehensive income.(a) InvestmentsIn thousands of euro 2022 2021 2020Opening net assets 1 January 47,135 87, 228 23,215Additions 14,893 - 52,273Divestments -4,384 -54,993 -Other comprehensive income -23,004 9,945 18,331Translation gains/(losses)3,003 4,955-6,591Closing net assets 31 December 37,645 47,135 87,228The investments are measured at market price. For invest-ments that are publicly quoted in an active market, the quoted market price is the best measure of fair value (level 1). The remeasurement at fair value per 31 December 2022 versus the carrying amount, resulted in an unrealized loss of -23 million euro, reflected in other comprehensive income. The loss is caused by a general decrease of the global stock markets in 2022 compared to 2021. Further, a new minority stake, below regulatory threshold levels, was taken (14.9 million euro cash-out impact) and a minority stake was sold, resulting in 4 million euro cash-in in 2022, both reflected in the line \u2018other investing activities\u2019 in the cash flow statement, and 0.7 million euro gain realized since the moment of acquisition, over the periods until divestment reflected in other comprehensive income reserve. The decrease in investments from 2020 to 2021 is related to a sold minority stake, below regulatory threshold levels. The sale resulted in 55 million euro cash-in in 2021, reflected in the line \u2018other investing activities\u2019 in the cash flow statement and 25.2 million euro gain realized since the moment of acquisition, which was over the periods until divestment reflected in other comprehensive income reserve. The remeasurement at fair value per 31 December 2021 versus the carrying amount amounted to 9.9 million euro and is reflected in other com-prehensive income (2020: 18.3 million euro).In thousands of euro 2022 2021 2020Investments (a) 37,645 47,135 87, 228Interest in associates (b) 27,167 20,872 19,713Investments and interest in associates 64,811 68,008 106,942Interest in associates represents entities in which Barco owns between 20% and 50% of the shares.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-209-6": {
   "value": "11. Investments and interest in associatesInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco ow<span class=\"_ _3\"></span>ns les<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 20% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for as f<span class=\"_ _3\"></span>air va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e throu<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, as dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d at mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of in<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h imp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>es that t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on a fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is wit<span class=\"_ _3\"></span>h dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>oss or other<span class=\"_ _0\"></span> comprehensiv<span class=\"_ _0\"></span>e income.(a<span class=\"_ _0\"></span>) Inv<span class=\"_ _0\"></span>estmentsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _268\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1d5\"> </span>2021<span class=\"_ _1ff\"> </span>2020</span>Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _269\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _1f1\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8<span class=\"_ _267\"> </span><span class=\"ls3c ws48\">23,2<span class=\"_ _3\"></span>15</span></span>Additions<span class=\"_ _26a\"> </span>14,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>93<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _260\"> </span><span class=\"lsf5 ws112\">52,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>3</span></span>Divestments<span class=\"_ _165\"> </span>-<span class=\"_ _3\"></span>4,384<span class=\"_ _da\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,9<span class=\"_ _3\"></span>93<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">-</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e<span class=\"_ _25d\"> </span>-2<span class=\"_ _3\"></span>3,0<span class=\"_ _3\"></span>04<span class=\"_ _e3\"> </span><span class=\"lsdd wsfa\">9,9<span class=\"_ _3\"></span>45<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">18<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331</span></span>T<span class=\"_ _0\"></span>ransl<span class=\"_ _3\"></span>ation gains/(losses)3,0<span class=\"_ _3\"></span>03<span class=\"_ _e3\"> </span><span class=\"lse9 ws106\">4,955</span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591Clo<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 31 De<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _26b\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _267\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _a7\"> </span>8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket pri<span class=\"_ _3\"></span>ce. For in<span class=\"_ _3\"></span>vest<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re pub<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cly qu<span class=\"_ _3\"></span>oted in a<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tive m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket, t<span class=\"_ _3\"></span>he qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (<span class=\"_ _3\"></span>level 1<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n un<span class=\"_ _3\"></span>realized l<span class=\"_ _3\"></span>oss of -2<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>oss is ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y a gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>bal s<span class=\"_ _3\"></span>tock m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in 2022 com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021. Fur<span class=\"_ _1\"></span>the<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a ne<span class=\"_ _3\"></span>w min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w regu<span class=\"_ _3\"></span>lator<span class=\"_ _1\"></span>y thre<span class=\"_ _3\"></span>sho<span class=\"_ _3\"></span>ld leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, wa<span class=\"_ _3\"></span>s ta<span class=\"_ _3\"></span>ken (14.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-out i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d a min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake w<span class=\"_ _3\"></span>as so<span class=\"_ _3\"></span>ld, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in i<span class=\"_ _3\"></span>n 2022, b<span class=\"_ _3\"></span>oth ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018oth<span class=\"_ _3\"></span>er in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d 0.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro ga<span class=\"_ _3\"></span>in reali<span class=\"_ _3\"></span>zed sin<span class=\"_ _3\"></span>ce the m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s unti<span class=\"_ _3\"></span>l divestment<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed in other <span class=\"_ _0\"></span>comprehensiv<span class=\"_ _0\"></span>e income r<span class=\"_ _0\"></span>eser<span class=\"_ _3\"></span>ve. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease in i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from 2020 to 2021 is re<span class=\"_ _3\"></span>lated to a sol<span class=\"_ _3\"></span>d min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low reg<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>d level<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le resu<span class=\"_ _3\"></span>lted in 55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in in 202<span class=\"_ _3\"></span>1, ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ine \u2018othe<span class=\"_ _3\"></span>r inves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>viti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d 25<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro gain rea<span class=\"_ _3\"></span>lized si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, whi<span class=\"_ _3\"></span>ch was ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds un<span class=\"_ _3\"></span>til d<span class=\"_ _3\"></span>ives<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve. T<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ted to 9.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e (2020: 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _266\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _14d\"> </span>2021<span class=\"_ _e3\"> </span>2020</span>Investments<span class=\"_ _31\"> </span>(a)<span class=\"_ _a7\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _c9\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _267\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b1\"> </span><span class=\"ls138 ws167\">(b)<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _20a\"> </span></span>20,87<span class=\"_ _3\"></span>2<span class=\"_ _c9\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> interest in<span class=\"_ _0\"></span> associates<span class=\"_ _163\"> </span><span class=\"ls131 ws161\">64,811<span class=\"_ _22\"> </span>68,00<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>6,9<span class=\"_ _3\"></span>42</span></span>Int<span class=\"_ _0\"></span>erest in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>es repres<span class=\"_ _0\"></span>ents entities i<span class=\"_ _0\"></span>n which Bar<span class=\"_ _0\"></span>co o<span class=\"_ _0\"></span>wns bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een 20% a<span class=\"_ _3\"></span>nd 50% o<span class=\"_ _3\"></span>f the s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s.13. Amounts receivable and other non-current assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - g<span class=\"_ _3\"></span>ross<span class=\"_ _1ae\"> </span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _230\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _0\"></span>60,930<span class=\"_ _95\"> </span><span class=\"lsfe ws11b\">15<span class=\"_ _3\"></span>0,452</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt r<span class=\"_ _3\"></span>ese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve <span class=\"_ _c3\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>-2,85<span class=\"_ _3\"></span>0<span class=\"_ _25e\"> </span><span class=\"lsdd wsfa\">-3<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>4<span class=\"_ _dd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _1\"></span>4,<span class=\"_ _3\"></span>314</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btor<span class=\"_ _3\"></span>s - ne<span class=\"_ _3\"></span>t <span class=\"_ _44\"> </span><span class=\"fs7b ls10e ws12b\">(b)</span>194,643<span class=\"_ _95\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>97<span class=\"_ _3\"></span>7<span class=\"_ _1eb\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>V<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>. Rec<span class=\"_ _0\"></span>eivable<span class=\"_ _f7\"> </span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>1<span class=\"_ _280\"> </span><span class=\"ls103 ws120\">6,<span class=\"_ _3\"></span>418<span class=\"_ _cd\"> </span><span class=\"ls89 wsa4\">5,<span class=\"_ _3\"></span>358</span></span>T<span class=\"_ _0\"></span>axes<span class=\"_ _0\"></span> receivable<span class=\"_ _ed\"> </span>3,491<span class=\"_ _d5\"> </span><span class=\"lsfb ws118\">6,0<span class=\"_ _3\"></span>83<span class=\"_ _223\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4</span></span>Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _1ba\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _1a3\"> </span>4<span class=\"_ _281\"> </span><span class=\"lsf7 ws114\">24</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y rate s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p (n<span class=\"_ _3\"></span>ote 20)<span class=\"_ _1ac\"> </span>2,537<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,055<span class=\"_ _cd\"> </span><span class=\"lsfe ws11b\">5,<span class=\"_ _3\"></span>345</span></span>Other<span class=\"_ _282\"> </span>2,<span class=\"_ _3\"></span>569<span class=\"_ _cd\"> </span><span class=\"lsfb ws118\">2,650<span class=\"_ _222\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>9</span></span>Other amounts r<span class=\"_ _0\"></span>eceivable<span class=\"_ _283\"> </span>14,509<span class=\"_ _1b7\"> </span><span class=\"lse0 wsfd\">16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>9</span></span>Other non-curre<span class=\"_ _3\"></span>nt assets <span class=\"_ _62\"> </span><span class=\"fs7b lse0 wsfd\">(c)</span>5,819<span class=\"_ _dd\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>49<span class=\"_ _d5\"> </span></span>5,870Nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f day<span class=\"_ _3\"></span>s sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DS<span class=\"_ _3\"></span>O)<span class=\"_ _92\"> </span>54<span class=\"_ _1b1\"> </span><span class=\"ls10b ws128\">56<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">67</span></span>Per 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of da<span class=\"_ _3\"></span>ys sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 54 d<span class=\"_ _3\"></span>ays (56 d<span class=\"_ _3\"></span>ays in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 67 in 2020) a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re back a<span class=\"_ _3\"></span>t pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d leve<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of d<span class=\"_ _3\"></span>ays sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in 2020 wa<span class=\"_ _3\"></span>s the resul<span class=\"_ _0\"></span>t of higher<span class=\"_ _0\"></span> overdues, mainl<span class=\"_ _0\"></span>y from c<span class=\"_ _0\"></span>inema cust<span class=\"_ _0\"></span>omers<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on t<span class=\"_ _3\"></span>he cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s. For th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>ded D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 31<span class=\"_ _3\"></span>, 2022, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny set up a lim<span class=\"_ _3\"></span>ited ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>a provis<span class=\"_ _3\"></span>ion fo<span class=\"_ _3\"></span>r curre<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: + 0.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>) refle<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r credit r<span class=\"_ _3\"></span>isk of i<span class=\"_ _3\"></span>ts cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. Th<span class=\"_ _3\"></span>e ext<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d in 2020 (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) reflec<span class=\"_ _3\"></span>ted a red<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble as a re<span class=\"_ _3\"></span>sult of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic. Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve in p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on to th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs de<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed to 1<span class=\"_ _3\"></span>.5% (2020: 2.<span class=\"_ _3\"></span>5%, 2020: 2.9%).(a<span class=\"_ _0\"></span>) Movemen<span class=\"_ _0\"></span>t in bad<span class=\"_ _0\"></span> debt reserve<span class=\"_ _0\"></span>:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _75\"> </span>-3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-4,<span class=\"_ _3\"></span>314<span class=\"_ _c9\"> </span><span class=\"ls107 ws124\">-2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74</span></span>Additional<span class=\"_ _0\"></span> provision<span class=\"_ _0\"></span>s<span class=\"_ _240\"> </span>-1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>91<span class=\"_ _265\"> </span><span class=\"ls102 ws11f\">-797<span class=\"_ _e3\"> </span><span class=\"ls103 ws120\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>41</span></span>Am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>ed<span class=\"_ _21d\"> </span>1,23<span class=\"_ _3\"></span>4<span class=\"_ _265\"> </span><span class=\"ls137 ws166\">444<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Amounts unused<span class=\"_ _3f\"> </span>1<span class=\"_ _3\"></span>,156<span class=\"_ _1b7\"> </span><span class=\"ls84 ws9f\">833<span class=\"_ _26d\"> </span><span class=\"lsfe ws11b\">645</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on (l<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>ses) / g<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ns<span class=\"_ _285\"> </span>-93<span class=\"_ _286\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>20<span class=\"_ _25e\"> </span><span class=\"ls10b ws128\">156</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _287\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _140\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>(b) At 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2<span class=\"_ _3\"></span>022 the a<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis o<span class=\"_ _3\"></span>f trad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btors i<span class=\"_ _3\"></span>s as fo<span class=\"_ _3\"></span>llows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>Not due<span class=\"_ _27a\"> </span>171<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>431<span class=\"_ _2b\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>38,18<span class=\"_ _3\"></span>8<span class=\"_ _1d6\"> </span><span class=\"ls138 ws167\">11<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>020</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 30 d<span class=\"_ _3\"></span>ays<span class=\"_ _26c\"> </span>1<span class=\"_ _3\"></span>2,699<span class=\"_ _c9\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _c9\"> </span>12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 3<span class=\"_ _3\"></span>0 an<span class=\"_ _3\"></span>d 9<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _254\"> </span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14d\"> </span><span class=\"ls138 ws167\">6<span class=\"_ _3\"></span>,620<span class=\"_ _1d5\"> </span><span class=\"lsf7 ws114\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 9<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys a<span class=\"_ _3\"></span>nd 18<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys<span class=\"_ _288\"> </span>2,<span class=\"_ _3\"></span>869<span class=\"_ _95\"> </span><span class=\"lsef ws10c\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>6<span class=\"_ _140\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _3\"></span>2,899</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue m<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 18<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _1ae\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>318<span class=\"_ _1ff\"> </span><span class=\"ls191 ws255\">4,<span class=\"_ _0\"></span>000<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8,0<span class=\"_ _3\"></span>05</span></span>T<span class=\"_ _0\"></span>otal gross<span class=\"_ _3c\"> </span>1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _da\"> </span><span class=\"lsdd wsfa\">16<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _274\"> </span><span class=\"ls131 ws161\">1<span class=\"_ _3\"></span>50,452</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt re<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve<span class=\"_ _1bb\"> </span>-2,850<span class=\"_ _26f\"> </span><span class=\"lsdd wsfa\">-3,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _e3\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _20e\"> </span>194,643<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>7<span class=\"_ _da\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>In 2022, tot<span class=\"_ _3\"></span>al ove<span class=\"_ _3\"></span>rdue t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 26.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro (202<span class=\"_ _3\"></span>1: 22.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 39.4 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), result<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> in 7 day<span class=\"_ _3\"></span>s overd<span class=\"_ _3\"></span>ue DSO (202<span class=\"_ _3\"></span>1: 9 day<span class=\"_ _3\"></span>s, 2020: 19 d<span class=\"_ _3\"></span>ays), wh<span class=\"_ _3\"></span>ich is even b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>an p<span class=\"_ _3\"></span>re-<span class=\"_ _1\"></span>covid leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.The inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e in o<span class=\"_ _0\"></span>verdue<span class=\"_ _0\"></span> amounts and<span class=\"_ _0\"></span> long ou<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>standing<span class=\"_ _2\"></span> overd<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2020 was m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly fro<span class=\"_ _3\"></span>m the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s cin<span class=\"_ _3\"></span>ema custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y was a<span class=\"_ _3\"></span>ble to rea<span class=\"_ _3\"></span>ch ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent pl<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re hon<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e maj<span class=\"_ _3\"></span>or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs in 2021<span class=\"_ _3\"></span>, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in a d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny\u2019s ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>es from 1<span class=\"_ _3\"></span>9 days i<span class=\"_ _3\"></span>n 2020 to 9 days in 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny has a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for sp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d for ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>ith lon<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt terms<span class=\"_ _3\"></span>. D<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng 202<span class=\"_ _3\"></span>1 and 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany d<span class=\"_ _3\"></span>id not n<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d to exercise it<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e insu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce as th<span class=\"_ _3\"></span>e cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, for wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce is in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pai<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>n 2022 cover<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n dou<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 180 da<span class=\"_ _3\"></span>ys (2021<span class=\"_ _3\"></span>: 99%<span class=\"_ _3\"></span>, 2020: 54%). Pre covid le<span class=\"_ _3\"></span>vel wa<span class=\"_ _3\"></span>s arou<span class=\"_ _3\"></span>nd 140%<span class=\"_ _3\"></span>. In 2020, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as ta<span class=\"_ _3\"></span>ken into a<span class=\"_ _3\"></span>ccount th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d and re<span class=\"_ _3\"></span>venu<span class=\"_ _3\"></span>e reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>otent<span class=\"_ _3\"></span>ial cre<span class=\"_ _3\"></span>dit r<span class=\"_ _3\"></span>isk an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r recordi<span class=\"_ _3\"></span>ng a ba<span class=\"_ _3\"></span>d deb<span class=\"_ _3\"></span>t rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve on e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins the b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt re<span class=\"_ _3\"></span>ser<span class=\"_ _1\"></span>ve in 2020 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to 54% of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables ov<span class=\"_ _0\"></span>erdue more<span class=\"_ _0\"></span> than 180 da<span class=\"_ _0\"></span>ys.(c) Oth<span class=\"_ _3\"></span>er no<span class=\"_ _3\"></span>n-c<span class=\"_ _3\"></span>urre<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>rent as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly cas<span class=\"_ _3\"></span>h gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ntees for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 2.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro (2021<span class=\"_ _3\"></span>: 5.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and 1<span class=\"_ _3\"></span>.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro oth<span class=\"_ _3\"></span>er l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g term rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>ted to a sub<span class=\"_ _3\"></span>leas<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>uil<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in A<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>a.14<span class=\"_ _0\"></span>. Net financial cash/debtIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Short ter<span class=\"_ _0\"></span>m investmen<span class=\"_ _0\"></span>ts<span class=\"ff4 fs3 ls4 ws4\"> <span class=\"_ _b0\"> </span></span><span class=\"lse6 ws103\">(a)</span>1,<span class=\"_ _3\"></span>651<span class=\"_ _cd\"> </span><span class=\"ls1af ws281\">2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>3<span class=\"_ _280\"> </span><span class=\"ls131 ws161\">3,175</span></span>Dep<span class=\"_ _3\"></span>osits <span class=\"_ _1c1\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>151,491<span class=\"_ _103\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _289\"> </span><span class=\"lsdd wsfa\">79,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>Ca<span class=\"_ _3\"></span>sh at b<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>k <span class=\"_ _289\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>15<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>42<span class=\"_ _9b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,453<span class=\"_ _230\"> </span></span>155,<span class=\"_ _3\"></span>426Ca<span class=\"_ _3\"></span>sh in h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d<span class=\"_ _1f2\"> </span>82<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">79<span class=\"_ _1b1\"> </span><span class=\"lse9 ws106\">65</span></span>Cash and cash<span class=\"_ _0\"></span> equivalents<span class=\"_ _28a\"> </span><span class=\"lsee ws10b\">305,<span class=\"_ _3\"></span>915<span class=\"_ _230\"> </span><span class=\"ls10e ws12b\">351<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _5b\"> </span></span>235<span class=\"_ _3\"></span>,402</span>Long-term<span class=\"_ _0\"></span> financial rec<span class=\"_ _0\"></span>eivablesLong-term<span class=\"_ _0\"></span> debts <span class=\"_ _1f1\"> </span><span class=\"fs7b lsf0 ws10d\">(c)</span>-32,<span class=\"_ _3\"></span>335<span class=\"_ _230\"> </span>-34,<span class=\"_ _3\"></span>366<span class=\"_ _230\"> </span><span class=\"ls36 ws40\">-35,854</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm d<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>ts <span class=\"_ _105\"> </span><span class=\"fs7b lsf0 ws10d\">(c<span class=\"_ _3\"></span>)</span>-<span class=\"_ _0\"></span>11,217<span class=\"_ _28b\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>18<span class=\"_ _289\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>187</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s <span class=\"_ _20a\"> </span><span class=\"fs7b ls10e ws12b\">(d)</span>-<span class=\"_ _28c\"> </span>-<span class=\"_ _1be\"> </span><span class=\"ls109 ws126\"> -<span class=\"_ _3\"></span>86</span>Net fi<span class=\"_ _0\"></span>nancial cash /<span class=\"_ _0\"></span> (debt)<span class=\"_ _10a\"> </span>26<span class=\"_ _3\"></span>4,0<span class=\"_ _3\"></span>14<span class=\"_ _5b\"> </span><span class=\"lse7 ws104\">3<span class=\"_ _3\"></span>09,<span class=\"_ _3\"></span>750<span class=\"_ _95\"> </span><span class=\"ls131 ws161\">19<span class=\"_ _0\"></span>3<span class=\"_ _3\"></span>,450</span></span>At th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, Ba<span class=\"_ _3\"></span>rco\u2019s net ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on reach<span class=\"_ _3\"></span>es 26<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 45.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lower co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to las<span class=\"_ _3\"></span>t year (202<span class=\"_ _3\"></span>1: 309.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 193.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ve free c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (1<span class=\"_ _3\"></span>3 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), a num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease of B<span class=\"_ _3\"></span>arco's sha<span class=\"_ _3\"></span>re in Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic fro<span class=\"_ _3\"></span>m 55% to 80% and t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red sh<span class=\"_ _3\"></span>are in Gn<span class=\"_ _3\"></span>osco AB (<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), divi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>ut  (-2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>nd us<span class=\"_ _3\"></span>e of own s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s for s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). We refer to the s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, note 16 an<span class=\"_ _3\"></span>d note 1<span class=\"_ _3\"></span>1 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Of th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>, 30<span class=\"_ _3\"></span>6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is cas<span class=\"_ _3\"></span>h on t<span class=\"_ _3\"></span>he bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. A<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial f<span class=\"_ _3\"></span>lex<span class=\"_ _3\"></span>ibi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d with 82.5<span class=\"_ _0\"></span> million eur<span class=\"_ _0\"></span>o of<span class=\"_ _0\"></span> unused bilat<span class=\"_ _0\"></span>eral c<span class=\"_ _0\"></span>ommitted c<span class=\"_ _0\"></span>redit<span class=\"_ _0\"></span> facil<span class=\"ls4 ws4\">-</span>itie<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted grou<span class=\"_ _3\"></span>p of com<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rcial ba<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion to<span class=\"_ _0\"></span> significant liquidi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, Barc<span class=\"_ _0\"></span>o has a<span class=\"_ _0\"></span> well-balan<span class=\"_ _3\"></span>ced<span class=\"_ _0\"></span> debt pro<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>ile wit<span class=\"_ _3\"></span>h deb<span class=\"_ _3\"></span>t lim<span class=\"_ _3\"></span>ited to 43.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro of w<span class=\"_ _3\"></span>hich 1<span class=\"_ _3\"></span>1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro near<span class=\"_ _0\"></span>-term maturi<span class=\"_ _0\"></span>ties.Th<span class=\"_ _3\"></span>e net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 202<span class=\"_ _3\"></span>1 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts to 30<span class=\"_ _3\"></span>9.8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 116 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>ared to e<span class=\"_ _3\"></span>nd 2020, a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>itive f<span class=\"_ _3\"></span>ree c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (<span class=\"_ _3\"></span>78 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), sold inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), di<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds pa<span class=\"_ _3\"></span>id o<span class=\"_ _3\"></span>ut (-21 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy ba<span class=\"_ _3\"></span>ck pro<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>am ( -1<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and us<span class=\"_ _3\"></span>e of own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s for sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>eme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, n<span class=\"_ _3\"></span>ote 16 and n<span class=\"_ _3\"></span>ote 11 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re explanation.(a<span class=\"_ _0\"></span>) Short ter<span class=\"_ _0\"></span>m inves<span class=\"_ _0\"></span>tments and<span class=\"_ _0\"></span> deposits:Th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>its d<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>t car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y a ma<span class=\"_ _3\"></span>te<span class=\"ls4 ws4\">-</span>ria<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k of chan<span class=\"_ _3\"></span>ge i<span class=\"_ _3\"></span>n va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.At closi<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>ate, all s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s include<span class=\"_ _0\"></span>:Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _28d\"> </span><span class=\"ls198 ws26e\">2022</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _ad\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _65\"> </span><span class=\"ls198 ws26e\">2020</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ateDep<span class=\"_ _3\"></span>osits in USD<span class=\"_ _245\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>8<span class=\"_ _62\"> </span>4.<span class=\"_ _3\"></span>22%<span class=\"_ _255\"> </span>1<span class=\"_ _3\"></span>41<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24<span class=\"_ _63\"> </span>0.<span class=\"_ _3\"></span>09%<span class=\"_ _235\"> </span><span class=\"lse0 wsfd\">71<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>839<span class=\"_ _6a\"> </span>0.70%</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n EUR<span class=\"_ _203\"> </span>19,<span class=\"_ _0\"></span>000<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>25%<span class=\"_ _1ef\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1f6\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _1f6\"> </span>-</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n HKD<span class=\"_ _24e\"> </span>9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>79<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>%<span class=\"_ _68\"> </span>45,0<span class=\"_ _3\"></span>57<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">0.27<span class=\"_ _3\"></span>%<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _1ef\"> </span>-De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n INR<span class=\"_ _159\"> </span>1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.97<span class=\"_ _3\"></span>%<span class=\"_ _25c\"> </span>2,7<span class=\"_ _0\"></span>63<span class=\"_ _11\"> </span>4.<span class=\"_ _3\"></span>10%<span class=\"_ _81\"> </span><span class=\"ls89 wsa4\">3,175<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">3<span class=\"_ _3\"></span>.61<span class=\"_ _3\"></span>%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n CNY<span class=\"_ _266\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _6a\"> </span>9,<span class=\"_ _3\"></span>36<span class=\"_ _3\"></span>8<span class=\"_ _25c\"> </span>2.1<span class=\"_ _3\"></span>1%<span class=\"_ _65\"> </span><span class=\"lsee ws10b\">6,<span class=\"_ _3\"></span>232<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>8%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s<span class=\"_ _19a\"> </span><span class=\"lsed ws10a\">2,307<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _16b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>291<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">1,<span class=\"_ _3\"></span>839<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"></span>53,<span class=\"_ _3\"></span>142<span class=\"_ _18a\"> </span><span class=\"lse7 ws104\">19<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>80<span class=\"_ _3\"></span>2<span class=\"_ _a1\"> </span><span class=\"ls131 ws161\">83,086</span></span>Cas<span class=\"_ _3\"></span>h in Ho<span class=\"_ _3\"></span>ng Ko<span class=\"_ _3\"></span>ng wa<span class=\"_ _3\"></span>s use<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e repa<span class=\"_ _3\"></span>ym<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s in Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 17<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e purch<span class=\"_ _3\"></span>ase of oth<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow reg<span class=\"_ _3\"></span>ulato<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>old l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s in H<span class=\"_ _3\"></span>KD in 2022 compar<span class=\"_ _0\"></span>ed t<span class=\"_ _0\"></span>o 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>r dep<span class=\"_ _3\"></span>osi<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s in U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d HKD in 202<span class=\"_ _3\"></span>1 are h<span class=\"_ _3\"></span>eld in th<span class=\"_ _3\"></span>e accord<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed, avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g FX i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t &amp; loss<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imiz<span class=\"_ _3\"></span>ing y<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>ld (by avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive y<span class=\"_ _3\"></span>iel<span class=\"_ _3\"></span>ds in EUR<span class=\"_ _3\"></span>).Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are conve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tib<span class=\"_ _3\"></span>le to kn<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>hree a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>elve m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs fro<span class=\"_ _3\"></span>m ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n. De<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m (be<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n zero and t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs), highly liquid<span class=\"_ _0\"></span> investments, which<span class=\"_ _0\"></span> are r<span class=\"_ _0\"></span>eadily con<span class=\"_ _0\"></span>ver<span class=\"_ _3\"></span>tible t<span class=\"_ _0\"></span>o kno<span class=\"_ _3\"></span>wn am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h.(b) Ca<span class=\"_ _3\"></span>sh at ba<span class=\"_ _3\"></span>nk: Cas<span class=\"_ _3\"></span>h at ba<span class=\"_ _3\"></span>nk is im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>tely ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le. It is d<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>omi<span class=\"_ _3\"></span>nated i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing curr<span class=\"_ _0\"></span>encies:(c) Lon<span class=\"_ _3\"></span>g-term fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts: Th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le gi<span class=\"_ _3\"></span>ves an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>iew of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nt po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate:T<span class=\"_ _0\"></span>yp<span class=\"_ _3\"></span>e of in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _28e\"> </span><span class=\"ls5a ws6d\">Maturi<span class=\"_ _3\"></span>ty<span class=\"_ _e9\"> </span></span>31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2<span class=\"_ _e6\"> </span>31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021<span class=\"_ _e8\"> </span>31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>20Real esta<span class=\"_ _0\"></span>te financing   Vari<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le, s<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>to fi<span class=\"_ _3\"></span>xed (<span class=\"_ _3\"></span>EU)<span class=\"_ _263\"> </span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an 202<span class=\"_ _3\"></span>5<span class=\"_ _a5\"> </span><span class=\"lsde wsfb\">8,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _d7\"> </span><span class=\"lse3 ws100\">9,56<span class=\"_ _3\"></span>3<span class=\"_ _b0\"> </span></span>10<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>8</span>   Variable (EU)<span class=\"_ _257\"> </span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an 202<span class=\"_ _3\"></span>5<span class=\"_ _d6\"> </span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1dc\"> </span><span class=\"lse7 ws104\">8,43<span class=\"_ _3\"></span>8<span class=\"_ _d\"> </span><span class=\"lsf4 ws111\">9,163</span></span>Lea<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g (I<span class=\"_ _3\"></span>FRS 16)<span class=\"_ _28f\"> </span><span class=\"lsfe ws11b\">27<span class=\"_ _0\"></span>,458<span class=\"_ _e1\"> </span>26,482<span class=\"_ _b0\"> </span><span class=\"lsf7 ws114\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>92<span class=\"_ _3\"></span>9</span></span>Other<span class=\"_ _290\"> </span>94<span class=\"_ _1f6\"> </span><span class=\"lsde wsfb\">103<span class=\"_ _49\"> </span><span class=\"ls108 ws125\">113</span></span>T<span class=\"_ _0\"></span>otal l<span class=\"_ _0\"></span>ong-t<span class=\"_ _0\"></span>erm financial<span class=\"_ _0\"></span> debts <span class=\"_ _287\"> </span>43,552<span class=\"_ _7e\"> </span><span class=\"ls3c ws48\">4<span class=\"_ _3\"></span>4,585<span class=\"_ _de\"> </span><span class=\"ls131 ws161\">45,042</span></span>2022<span class=\"_ _8b\"> </span>2021<span class=\"_ _4f\"> </span>20<span class=\"_ _3\"></span>20EUR<span class=\"_ _284\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls106 ws123\">5<span class=\"_ _3\"></span>4.4%<span class=\"_ _98\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>4.7%</span></span>HKD<span class=\"_ _223\"> </span>7.<span class=\"_ _3\"></span>1<span class=\"_ _4\"> </span>%<span class=\"_ _147\"> </span><span class=\"lse7 ws104\">3.9<span class=\"_ _3\"></span>%<span class=\"_ _53\"> </span><span class=\"ls139 ws168\">28.8%</span></span>CNY<span class=\"_ _265\"> </span>15.<span class=\"_ _3\"></span>8%<span class=\"_ _89\"> </span><span class=\"ls106 ws123\">8<span class=\"_ _3\"></span>.5%<span class=\"_ _51\"> </span><span class=\"lsee ws10b\">15.<span class=\"_ _3\"></span>3%</span></span>USD<span class=\"_ _265\"> </span>2<span class=\"_ _3\"></span>1.2%<span class=\"_ _4f\"> </span><span class=\"lsfc ws119\">19.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">8<span class=\"_ _3\"></span>.6%</span></span>Others<span class=\"_ _262\"> </span><span class=\"lsdc wsf9\">14.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _86\"> </span>14.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>5%</span></span>Barco NV s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ed a n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f bil<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>ies tot<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ing 28 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, for th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g of Ba<span class=\"_ _3\"></span>rco\u2019s headquarters campus<span class=\"_ _0\"></span> project. Drawings<span class=\"_ _0\"></span> have a<span class=\"_ _0\"></span> long<span class=\"_ _3\"></span>-term<span class=\"_ _0\"></span> teno<span class=\"_ _3\"></span>r of 15 ye<span class=\"_ _3\"></span>ars fo<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d (as of th<span class=\"_ _3\"></span>e end o<span class=\"_ _3\"></span>f 2015). An am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 16 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro is ou<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>r 31.<span class=\"_ _3\"></span>12.<span class=\"_ _3\"></span>202<span class=\"_ _3\"></span>2. Th<span class=\"_ _3\"></span>ese co<span class=\"_ _3\"></span>mmi<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y e<span class=\"_ _3\"></span>ithe<span class=\"_ _3\"></span>r a var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ate or ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d via d<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s into fixed ra<span class=\"_ _0\"></span>te c<span class=\"_ _0\"></span>haracter<span class=\"_ _0\"></span>.Barco is m<span class=\"_ _3\"></span>eeti<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>ll req<span class=\"_ _3\"></span>uirem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an coven<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s on its availabl<span class=\"_ _0\"></span>e credi<span class=\"_ _0\"></span>t facilities.Th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le sum<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>rizes th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, per curr<span class=\"_ _0\"></span>ency:2022<span class=\"_ _8b\"> </span>2021<span class=\"_ _4f\"> </span>20<span class=\"_ _3\"></span>20EUR<span class=\"_ _1d1\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>13<span class=\"_ _df\"> </span><span class=\"ls103 ws120\">2<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>078<span class=\"_ _37\"> </span></span>31<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8</span>USD<span class=\"_ _a2\"> </span>3,829<span class=\"_ _98\"> </span><span class=\"lse9 ws106\">4,<span class=\"_ _3\"></span>584<span class=\"_ _148\"> </span><span class=\"lsfb ws118\">4,0<span class=\"_ _3\"></span>98</span></span>INR<span class=\"_ _d5\"> </span>5,15<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lsfe ws11b\">3,4<span class=\"_ _3\"></span>46<span class=\"_ _86\"> </span><span class=\"lsf4 ws111\">4,<span class=\"_ _3\"></span>162</span></span>Other<span class=\"_ _5b\"> </span>6,<span class=\"_ _3\"></span>356<span class=\"_ _51\"> </span><span class=\"lse7 ws104\">8,<span class=\"_ _3\"></span>47<span class=\"_ _3\"></span>7<span class=\"_ _4f\"> </span>5<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _1ff\"> </span>43<span class=\"_ _3\"></span>,552<span class=\"_ _14b\"> </span><span class=\"ls3c ws48\">4<span class=\"_ _3\"></span>4,585<span class=\"_ _23\"> </span><span class=\"ls131 ws161\">45,0<span class=\"_ _3\"></span>42</span></span>Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>e, an<span class=\"_ _3\"></span>d exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nt po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, are pa<span class=\"_ _3\"></span>yab<span class=\"_ _3\"></span>le as fo<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>s:Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>1<span class=\"_ _5b\"> </span>Per 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2020Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _1ff\"> </span><span class=\"lse3 ws100\">9,78<span class=\"_ _3\"></span>4<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2023<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>28<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 202<span class=\"_ _3\"></span>2<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">9<span class=\"_ _0\"></span>,883</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8<span class=\"_ _3\"></span>,081<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 2024<span class=\"_ _263\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>24<span class=\"_ _e9\"> </span></span>P<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le in 20<span class=\"_ _3\"></span>23<span class=\"_ _14d\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _4\"> </span>4</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lse7 ws104\">5,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>59<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le in 2<span class=\"_ _3\"></span>025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,883<span class=\"_ _e8\"> </span></span>Payab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _14d\"> </span><span class=\"lsdc wsf9\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2027<span class=\"_ _14d\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>,535<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">3,799<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,083</span>La<span class=\"_ _3\"></span>ter<span class=\"_ _a0\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _e9\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _291\"> </span><span class=\"ls3c ws48\">9,679<span class=\"_ _11d\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _93\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>168</span>T<span class=\"_ _0\"></span>otal l<span class=\"_ _0\"></span>ong-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _be\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>4,625<span class=\"_ _e8\"> </span></span>T<span class=\"_ _0\"></span>otal<span class=\"_ _0\"></span> long-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _cc\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"> </span>2<span class=\"_ _e9\"> </span></span>T<span class=\"_ _0\"></span>otal long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debts<span class=\"_ _22a\"> </span><span class=\"lsf9 ws116\">41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>1</span>Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er a<span class=\"_ _3\"></span>re as fol<span class=\"_ _3\"></span>lows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _240\"> </span>26,4<span class=\"_ _3\"></span>82<span class=\"_ _265\"> </span><span class=\"ls167 ws22d\">24,9<span class=\"_ _3\"></span>29<span class=\"_ _265\"> </span><span class=\"lsea ws107\">28,<span class=\"_ _3\"></span>259</span></span>Ne<span class=\"_ _3\"></span>w lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>r ex<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of cur<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _180\"> </span>10<span class=\"_ _3\"></span>,99<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"lsde wsfb\">10,702<span class=\"_ _26d\"> </span><span class=\"ls191 ws255\">11,000</span></span>Pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s or te<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _258\"> </span>-10,0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _20f\"> </span><span class=\"lse7 ws104\">-10<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>59<span class=\"_ _286\"> </span><span class=\"ls108 ws125\">-13,13<span class=\"_ _0\"></span>2</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _26c\"> </span>45<span class=\"_ _292\"> </span><span class=\"lsf5 ws112\">1,01<span class=\"_ _3\"></span>1<span class=\"_ _289\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>19<span class=\"_ _3\"></span>9</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al l<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>se li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>n 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _293\"> </span>27<span class=\"_ _0\"></span>,458<span class=\"_ _20f\"> </span><span class=\"ls10e ws12b\">26<span class=\"_ _3\"></span>,48<span class=\"_ _3\"></span>2<span class=\"_ _286\"> </span><span class=\"ls167 ws22d\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>92<span class=\"_ _3\"></span>9</span></span>Cur<span class=\"_ _3\"></span>rent<span class=\"_ _217\"> </span>9,2<span class=\"_ _3\"></span>17<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">8,2<span class=\"_ _3\"></span>18<span class=\"_ _294\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7</span></span>Non-<span class=\"_ _3\"></span>curr<span class=\"_ _0\"></span>ent<span class=\"_ _23f\"> </span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>1<span class=\"_ _26d\"> </span><span class=\"lsf0 ws10d\">18,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _289\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2</span></span>15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.18. T<span class=\"_ _18\"></span>rade payables and advances received from customersIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>T<span class=\"_ _0\"></span>rade payables<span class=\"_ _0\"></span><span class=\"fs3 ls4 ws4\"> <span class=\"_ _19b\"> </span><span class=\"fs7b lsfc ws119\">(a)</span></span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,920<span class=\"_ _262\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3,97<span class=\"_ _3\"></span>9<span class=\"_ _1ff\"> </span><span class=\"lse0 wsfd\">70,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>9</span>Day<span class=\"_ _3\"></span>s pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DP<span class=\"_ _3\"></span>O)<span class=\"_ _2a5\"> </span>68<span class=\"_ _117\"> </span><span class=\"ls135 ws164\">80<span class=\"_ _2a6\"> </span><span class=\"ls42 ws6f\">53</span></span>Advances<span class=\"_ _0\"></span> received<span class=\"_ _0\"></span> from c<span class=\"_ _0\"></span>ustomers<span class=\"_ _1e\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>3<span class=\"_ _1d5\"> </span>54<span class=\"_ _3\"></span>,105<span class=\"_ _1d5\"> </span><span class=\"lsf0 ws10d\">42,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>5</span></span>(<span class=\"_ _0\"></span>a) <span class=\"_ _5\"></span>T<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 is t<span class=\"_ _3\"></span>he resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r raw m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es (in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n volu<span class=\"_ _3\"></span>me,<span class=\"_ _3\"></span> component<span class=\"_ _0\"></span> prices and trans<span class=\"_ _0\"></span>po<span class=\"_ _3\"></span>rt charges<span class=\"_ _0\"></span>).<span class=\"_ _0\"></span> In 20<span class=\"_ _0\"></span>22 higher thpurch<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s are ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y hig<span class=\"_ _3\"></span>her s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he 4 quarter (<span class=\"_ _2\"></span>+2<span class=\"_ _0\"></span>9% year-<span class=\"_ _3\"></span>over-<span class=\"_ _3\"></span>year). In 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>s are ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d thby hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e 4 quarter (<span class=\"_ _2\"></span>+ 29% y<span class=\"_ _0\"></span>ear-over<span class=\"_ _0\"></span>-year)<span class=\"_ _0\"></span> an<span class=\"_ _3\"></span>d accele<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d purch<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s in vi<span class=\"_ _3\"></span>ew of com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span> scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y and r<span class=\"_ _0\"></span>esulted<span class=\"_ _0\"></span> in higher days<span class=\"_ _0\"></span> payable outstanding. Paym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t terms w<span class=\"_ _3\"></span>ith s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ers w<span class=\"_ _3\"></span>ere no<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n no ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or towa<span class=\"_ _3\"></span>rds sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. <span class=\"_ _152\"> </span>In 2020 p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es were b<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ked in v<span class=\"_ _3\"></span>iew of l<span class=\"_ _3\"></span>ower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and to avoid b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>up of inv<span class=\"_ _3\"></span>entor<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>.20. Risk management - derivative financial instrumentsGe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>scri<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>r\u2019s rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t \u201c<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k F<span class=\"_ _0\"></span>actors<span class=\"_ _0\"></span>\u201d<span class=\"_ _0\"></span>. De<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are use<span class=\"_ _3\"></span>d to redu<span class=\"_ _3\"></span>ce th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sure to fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s in fore<span class=\"_ _3\"></span>ign e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d inte<span class=\"_ _3\"></span>rest rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are sub<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ct to th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f mar<span class=\"_ _3\"></span>ket rates ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt to acqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s are ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et by op<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>ite ef<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e item be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed.Foreign currency riskRecogniz<span class=\"_ _0\"></span>ed assets and liabilitiesBarco in<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>s forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>k on reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re den<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ated in a cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s loc<span class=\"_ _3\"></span>al cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy. Such r<span class=\"_ _3\"></span>isk<span class=\"_ _3\"></span>s may b<span class=\"_ _3\"></span>e nat<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>lly cov<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tem at th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et sid<span class=\"_ _3\"></span>e (su<span class=\"_ _3\"></span>ch as a tra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>r cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>) in a g<span class=\"_ _3\"></span>iven cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy i<span class=\"_ _3\"></span>s matche<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y ite<span class=\"_ _3\"></span>m at th<span class=\"_ _3\"></span>e liab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sid<span class=\"_ _3\"></span>e (such a<span class=\"_ _3\"></span>s a tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>le or lo<span class=\"_ _3\"></span>an) in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Forward<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contracts a<span class=\"_ _0\"></span>nd selectivel<span class=\"_ _0\"></span>y option c<span class=\"_ _0\"></span>ontracts are use<span class=\"_ _3\"></span>d to man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e curren<span class=\"_ _3\"></span>cy r<span class=\"_ _3\"></span>isk a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom reco<span class=\"_ _3\"></span>gnized rec<span class=\"_ _0\"></span>eivables and pay<span class=\"_ _0\"></span>ab<span class=\"_ _3\"></span>les, whic<span class=\"_ _0\"></span>h are no<span class=\"_ _0\"></span>t naturally<span class=\"_ _0\"></span> hedge<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces o<span class=\"_ _3\"></span>n foreig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y items are v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ed at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>reva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re used to re<span class=\"_ _3\"></span>duce the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re rated in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span> at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue. B<span class=\"_ _3\"></span>oth ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>nd in fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>come s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Forecasted<span class=\"_ _0\"></span> transactionsBarc<span class=\"_ _0\"></span>o selectively<span class=\"_ _0\"></span> designates<span class=\"_ _0\"></span> forward con<span class=\"_ _0\"></span>tract<span class=\"_ _3\"></span>s t<span class=\"_ _0\"></span>o for<span class=\"_ _0\"></span>ecasted sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. He<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g is a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to the<span class=\"_ _3\"></span>se con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in or lo<span class=\"_ _3\"></span>ss o<span class=\"_ _3\"></span>n the h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent t<span class=\"_ _3\"></span>hat w<span class=\"_ _3\"></span>ill be d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d as an e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive h<span class=\"_ _3\"></span>edg<span class=\"_ _3\"></span>e is reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e. At 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no f<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>ward c<span class=\"_ _0\"></span>ontracts outstanding<span class=\"_ _0\"></span> under hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _0\"></span> treatment<span class=\"_ _3\"></span>.Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to cu<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y fluc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>sSe<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _1\"></span>y to curren<span class=\"_ _3\"></span>cy f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns is m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of a p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s (mai<span class=\"_ _3\"></span>nly U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d CNY<span class=\"_ _3\"></span>) ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro. T<span class=\"_ _3\"></span>his se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing fact<span class=\"_ _0\"></span>ors:\u2022 <span class=\"_ _119\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>one<span class=\"_ _3\"></span>tar<span class=\"_ _1\"></span>y items is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ate mos<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>ese e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s in fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Barco use<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tems an<span class=\"_ _3\"></span>d/or der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>s des<span class=\"_ _3\"></span>crib<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>bove<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch are me<span class=\"_ _3\"></span>ant to of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f such re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>s to a ma<span class=\"_ _3\"></span>jor e<span class=\"_ _3\"></span>xte<span class=\"_ _3\"></span>nt.\u2022 <span class=\"_ _141\"> </span>A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y has n<span class=\"_ _3\"></span>o cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce that a<span class=\"_ _3\"></span>im at he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reca<span class=\"_ _3\"></span>sted t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s, a si<span class=\"_ _3\"></span>mil<span class=\"_ _3\"></span>ar f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n in forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renci<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>uld n<span class=\"_ _3\"></span>ot have a<span class=\"_ _3\"></span>ny ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y positi<span class=\"_ _3\"></span>on of Barco.\u2022 <span class=\"_ _24\"> </span>Profit m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ins m<span class=\"_ _3\"></span>ay be n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>se an imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s are rea<span class=\"_ _3\"></span>lized in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s, whi<span class=\"_ _3\"></span>le cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re incu<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>n a sm<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>r pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco has d<span class=\"_ _3\"></span>one g<span class=\"_ _3\"></span>reat ef<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>rs to inc<span class=\"_ _3\"></span>rease it<span class=\"_ _3\"></span>s na<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>al h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g rat<span class=\"_ _3\"></span>io in US<span class=\"_ _3\"></span>D (be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g its m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy in te<span class=\"_ _3\"></span>rms of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es) by in<span class=\"_ _3\"></span>creasin<span class=\"_ _3\"></span>g it<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d by p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g mo<span class=\"_ _3\"></span>re comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>his curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y. Impac<span class=\"_ _3\"></span>t on a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted EB<span class=\"_ _3\"></span>IT is cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>tly es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated at 20.0 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e wei<span class=\"_ _3\"></span>ghted a<span class=\"_ _3\"></span>vera<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate of a for<span class=\"_ _0\"></span>eign curr<span class=\"_ _0\"></span>ency basket,<span class=\"_ _0\"></span> that has an<span class=\"_ _0\"></span> overall<span class=\"_ _0\"></span> overweight of<span class=\"_ _0\"></span> USD &amp; CNY, chang<span class=\"_ _3\"></span>es by 10% ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro in a yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he overa<span class=\"_ _3\"></span>ll n<span class=\"_ _3\"></span>atur<span class=\"_ _3\"></span>al he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e rat<span class=\"_ _3\"></span>io of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cies rea<span class=\"_ _3\"></span>che<span class=\"_ _3\"></span>d a leve<span class=\"_ _3\"></span>l of 71<span class=\"_ _3\"></span>% in 2022 (202<span class=\"_ _3\"></span>1: 73%<span class=\"_ _3\"></span>).\u2022<span class=\"ff4 ls29 wsb\"> <span class=\"_ _2a\"> </span>An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>s the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t tha<span class=\"_ _3\"></span>t som<span class=\"_ _3\"></span>e of Ba<span class=\"_ _3\"></span>rco\u2019s compe<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span></span><span class=\"ff4\">-</span>tors a<span class=\"_ _3\"></span>re USD<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Whe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ver th<span class=\"_ _3\"></span>e USD de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e euro, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>etito<span class=\"_ _3\"></span>rs have a wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pet<span class=\"_ _3\"></span>itive a<span class=\"_ _3\"></span>dv<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e over Ba<span class=\"_ _3\"></span>rco. Thi<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng resul<span class=\"_ _0\"></span>t cannot be mea<span class=\"_ _0\"></span>sured r<span class=\"_ _0\"></span>eliably<span class=\"_ _0\"></span>.Interest rate riskBarco use<span class=\"_ _3\"></span>s foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate ris<span class=\"_ _3\"></span>k:Swap o<span class=\"_ _3\"></span>n out<span class=\"_ _3\"></span>sta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng or a<span class=\"_ _3\"></span>ntic<span class=\"_ _3\"></span>ipate<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowin<span class=\"_ _3\"></span>gBarco con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed a s<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>es of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>s with a<span class=\"_ _3\"></span>n out<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g not<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nal a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro by mea<span class=\"_ _3\"></span>ns of a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ial h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r the b<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l real e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ate leasi<span class=\"_ _3\"></span>ng (cur<span class=\"_ _3\"></span>rentl<span class=\"_ _3\"></span>y out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng at 16.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) for the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>ng of B<span class=\"_ _3\"></span>arco's HQ ca<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>us st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n 2016. T<span class=\"_ _3\"></span>his in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>ps the v<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te into a fixe<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.76%. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sw<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve hed<span class=\"_ _3\"></span>ge of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g or a<span class=\"_ _3\"></span>ntici<span class=\"_ _3\"></span>pated b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d me<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e he<span class=\"_ _3\"></span>dgi<span class=\"_ _3\"></span>ng re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 39. Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e hed<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>re th<span class=\"_ _3\"></span>erefore rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed dir<span class=\"_ _0\"></span>ectly in<span class=\"_ _0\"></span> comprehen<span class=\"_ _0\"></span>sive inc<span class=\"_ _0\"></span>ome under hedge<span class=\"_ _0\"></span> acc<span class=\"_ _0\"></span>ounting treatment. Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuati<span class=\"_ _3\"></span>onsCha<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s in in<span class=\"_ _3\"></span>teres<span class=\"_ _3\"></span>t rate are clo<span class=\"_ _3\"></span>sel<span class=\"_ _3\"></span>y follow<span class=\"_ _3\"></span>ed up by<span class=\"_ _0\"></span> management.With refe<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>ce to the fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low, just o<span class=\"_ _3\"></span>ver 60% of Barco\u2019s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o has a f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d inter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate cha<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>ter, <span class=\"_ _0\"></span>w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch lim<span class=\"_ _3\"></span>its t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpo<span class=\"_ _3\"></span>sure of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany to interes<span class=\"_ _3\"></span>t rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>is rat<span class=\"_ _3\"></span>io in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s to 83% wh<span class=\"_ _3\"></span>en inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d ab<span class=\"_ _3\"></span>ove.Credit riskCre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s re<span class=\"_ _3\"></span>cei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>leCredit e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>irin<span class=\"_ _3\"></span>g credit ov<span class=\"_ _3\"></span>er a cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk i<span class=\"_ _3\"></span>s mon<span class=\"_ _3\"></span>itored o<span class=\"_ _3\"></span>n a conti<span class=\"_ _3\"></span>nuo<span class=\"_ _3\"></span>us ba<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>. In a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s colla<span class=\"_ _3\"></span>tera<span class=\"_ _3\"></span>l is be<span class=\"_ _3\"></span>ing requ<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>efore a cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k is accep<span class=\"_ _3\"></span>ted. S<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ce ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s let<span class=\"_ _3\"></span>ters of cre<span class=\"_ _3\"></span>dit an<span class=\"_ _3\"></span>d bi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>s of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e are regu<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>rly us<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to min<span class=\"_ _3\"></span>imize th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk<span class=\"_ _3\"></span>. In 2022, B<span class=\"_ _3\"></span>arco conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to cover cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>ks o<span class=\"_ _3\"></span>n sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers o<span class=\"_ _3\"></span>r la<span class=\"_ _3\"></span>rge con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s on a c<span class=\"_ _3\"></span>ase b<span class=\"_ _3\"></span>y case b<span class=\"_ _3\"></span>asi<span class=\"_ _3\"></span>s. Cre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>curit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _0\"></span>te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>sA po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g accept<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le cou<span class=\"_ _3\"></span>nter pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e max<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ris<span class=\"_ _3\"></span>k pe<span class=\"_ _3\"></span>r counter p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s in pl<span class=\"_ _3\"></span>ace. S<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs or i<span class=\"_ _3\"></span>n fixe<span class=\"_ _3\"></span>d term deposits wit<span class=\"_ _0\"></span>h reputable banks.Fair values Set o<span class=\"_ _3\"></span>ut on t<span class=\"_ _3\"></span>he ri<span class=\"_ _3\"></span>ght is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t are sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re ass<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>d to be a clos<span class=\"_ _3\"></span>e ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e.2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro Ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt / Fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue (ap<span class=\"_ _3\"></span>prox<span class=\"_ _3\"></span>.)Financi<span class=\"_ _3\"></span>al assetsInv<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _1d6\"> </span>37<span class=\"_ _2\"></span>,337<span class=\"_ _4e\"> </span><span class=\"ls135 ws164\"> 46,680 <span class=\"_ _52\"> </span><span class=\"lsde wsfb\"> 8<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>651 </span></span>T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _197\"> </span>194<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>43<span class=\"_ _147\"> </span><span class=\"lsdd wsfa\"> 1<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>,97<span class=\"_ _1\"></span>7 <span class=\"_ _8b\"> </span><span class=\"lsdc wsf9\"> 14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>8 </span></span>Other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _2af\"> </span>14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>09<span class=\"_ _151\"> </span><span class=\"ls19a ws26f\"> 1<span class=\"_ _0\"></span>6,211<span class=\"_ _0\"></span> <span class=\"_ _3d\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span></span>   Loan<span class=\"_ _0\"></span> and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _91\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>1<span class=\"_ _4b\"> </span><span class=\"ls168 ws169\"> 15,152 <span class=\"_ _52\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,420 </span></span>   Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _2b0\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _d2\"> </span> 4 <span class=\"_ _65\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span> </span></span>   Currency<span class=\"_ _0\"></span> rate<span class=\"_ _0\"></span> s<span class=\"_ _3\"></span>wap<span class=\"_ _2b1\"> </span>2,187<span class=\"_ _94\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>55 <span class=\"_ _178\"> </span> 5,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>45 </span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b2\"> </span>350<span class=\"_ _cc\"> </span><span class=\"ls4 ws4\"> -<span class=\"_ _d0\"> </span>-</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _2b3\"> </span><span class=\"ls36 ws40\">5,819<span class=\"_ _10c\"> </span></span> 6,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>49 <span class=\"_ _178\"> </span><span class=\"ls36 ws40\"> 5,870<span class=\"_ _0\"></span> </span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s<span class=\"_ _224\"> </span>1,6<span class=\"_ _3\"></span>51<span class=\"_ _94\"> </span><span class=\"lsed ws10a\"> 2,763 <span class=\"_ _ff\"> </span></span> 3,<span class=\"_ _3\"></span>175 Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _164\"> </span>3<span class=\"_ _3\"></span>05<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>5<span class=\"_ _4e\"> </span><span class=\"ls42 ws6f\"> 351,571 <span class=\"_ _4f\"> </span><span class=\"ls4 ws4\"> 2<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,402 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _77\"> </span>5<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74<span class=\"_ _4e\"> </span><span class=\"ls131 ws161\">581<span class=\"_ _3\"></span>,051 <span class=\"_ _98\"> </span><span class=\"ls4 ws4\"> 495<span class=\"_ _3\"></span>,026 </span></span>Financial<span class=\"_ _0\"></span> liabilitiesFinancial<span class=\"_ _0\"></span> debts<span class=\"_ _1f7\"> </span><span class=\"ls191 ws255\">1<span class=\"_ _0\"></span>6,000<span class=\"_ _50\"> </span><span class=\"lsfb ws118\"> 18,00<span class=\"_ _3\"></span>0 <span class=\"_ _f\"> </span></span> 20,<span class=\"_ _0\"></span>000 </span>   Flo<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g rate b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs<span class=\"_ _106\"> </span><span class=\"lsde wsfb\">8,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _9c\"> </span><span class=\"lse3 ws100\"> 9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>63 <span class=\"_ _52\"> </span></span> 10<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>38 </span>   Fix<span class=\"_ _3\"></span>ed r<span class=\"_ _3\"></span>ate bo<span class=\"_ _3\"></span>rro<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>s<span class=\"_ _1c8\"> </span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _4\"> </span>3<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\"> 8<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 <span class=\"_ _10c\"> </span><span class=\"lsf4 ws111\"> 9,<span class=\"_ _3\"></span>163 </span></span>Other long-term l<span class=\"_ _0\"></span>iabilities<span class=\"_ _1cd\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>524<span class=\"_ _50\"> </span><span class=\"ls4 ws4\"> 48<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>60 <span class=\"_ _147\"> </span><span class=\"lse7 ws104\"> 43<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>6 </span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s<span class=\"_ _277\"> </span>-<span class=\"_ _c0\"> </span><span class=\"ws28c\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _16b\"> </span></span> 8<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>rade payables<span class=\"_ _196\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>0<span class=\"_ _1aa\"> </span> 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>9 <span class=\"_ _1aa\"> </span><span class=\"ls4 ws4\"> 70,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>9 </span></span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _1fd\"> </span>5,41<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"ls4 ws4\"> 5<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>6 <span class=\"_ _3a\"> </span><span class=\"lsdd wsfa\"> 8,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>0 </span></span>   Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ts p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le<span class=\"_ _dc\"> </span><span class=\"ls89 wsa4\">750<span class=\"_ _54\"> </span></span> 1,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>6 <span class=\"_ _6a\"> </span> 8<span class=\"_ _3\"></span>0    Dividends payable<span class=\"_ _11b\"> </span><span class=\"lsde wsfb\">2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>289<span class=\"_ _9c\"> </span> 2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>289 <span class=\"_ _1a8\"> </span><span class=\"ls4 ws4\"> 2,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>90 </span></span>   Currency<span class=\"_ _0\"></span> rate<span class=\"_ _0\"></span> s<span class=\"_ _3\"></span>wap<span class=\"_ _205\"> </span>2,<span class=\"_ _3\"></span>373<span class=\"_ _76\"> </span><span class=\"lse7 ws104\"> 859 <span class=\"_ _178\"> </span><span class=\"ls4 ws4\"> 5<span class=\"_ _3\"></span>,52<span class=\"_ _3\"></span>9 </span></span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _1a6\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _8e\"> </span> 6<span class=\"_ _3\"></span>82 <span class=\"_ _4b\"> </span> 1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>80 </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _48\"> </span>187<span class=\"_ _0\"></span>,856<span class=\"_ _b9\"> </span><span class=\"ls139 ws168\"> 185,87<span class=\"_ _0\"></span>5 <span class=\"_ _51\"> </span><span class=\"ls4 ws4\"> 142,6<span class=\"_ _3\"></span>50 </span></span>Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s is def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed as th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t at wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt cou<span class=\"_ _3\"></span>ld be e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d in a cur<span class=\"_ _3\"></span>rent tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s, o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an in a forced or l<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>uid<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>le. Th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns we<span class=\"_ _3\"></span>re used to es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ues:\u2022 <span class=\"_ _24\"> </span>C<span class=\"_ _3\"></span>ash a<span class=\"_ _3\"></span>nd c<span class=\"_ _3\"></span>ash e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, trade r<span class=\"_ _0\"></span>eceivables, trade pa<span class=\"_ _0\"></span>yables, and other c<span class=\"_ _0\"></span>urrent<span class=\"_ _0\"></span> liabili<span class=\"ls4 ws4\">-</span>tie<span class=\"_ _3\"></span>s ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ate the<span class=\"_ _3\"></span>ir c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely d<span class=\"_ _3\"></span>ue to th<span class=\"_ _3\"></span>e shor<span class=\"_ _3\"></span>t-t<span class=\"_ _0\"></span>erm maturities of these instruments.\u2022 <span class=\"_ _141\"> </span>I<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asu<span class=\"_ _3\"></span>red at ma<span class=\"_ _3\"></span>rket p<span class=\"_ _3\"></span>rice. Fo<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts that a<span class=\"_ _3\"></span>re pu<span class=\"_ _3\"></span>bli<span class=\"_ _3\"></span>cly q<span class=\"_ _3\"></span>uoted i<span class=\"_ _3\"></span>n an ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>, the q<span class=\"_ _3\"></span>uote<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>est m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>nsiv<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>.\u2022<span class=\"ff4 ls39 ws39\"> <span class=\"_ _141\"> </span>Lo<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m fixe<span class=\"_ _3\"></span>d rate a<span class=\"_ _3\"></span>nd v<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rate ot<span class=\"_ _3\"></span>her a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re eva<span class=\"_ _3\"></span>l</span><span class=\"ff4\">-</span>uated by t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p bas<span class=\"_ _3\"></span>ed on p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters s<span class=\"_ _3\"></span>uch as i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>, sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic co<span class=\"_ _3\"></span>untr<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>div<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ual cre<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>wo<span class=\"_ _3\"></span>r<span class=\"ls4 ws4\">-</span>thi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss of th<span class=\"_ _3\"></span>e cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>r an<span class=\"_ _3\"></span>d the r<span class=\"_ _3\"></span>isk ch<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>cter<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ced p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his ev<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces are ma<span class=\"_ _3\"></span>de to accou<span class=\"_ _3\"></span>nt for th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts of such re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, net of a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces, a<span class=\"_ _3\"></span>re ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ed no<span class=\"_ _3\"></span>t to be mat<span class=\"_ _0\"></span>erially differ<span class=\"_ _0\"></span>ent from<span class=\"_ _0\"></span> their calcula<span class=\"_ _0\"></span>ted fair<span class=\"_ _0\"></span> values.\u2022 <span class=\"_ _2a\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of un<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>oted in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, loa<span class=\"_ _3\"></span>ns fro<span class=\"_ _3\"></span>m ban<span class=\"_ _3\"></span>ks an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce leas<span class=\"_ _3\"></span>es as we<span class=\"_ _3\"></span>ll as ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>curren<span class=\"_ _3\"></span>t fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s is es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g fu<span class=\"_ _3\"></span>ture c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>es curr<span class=\"_ _0\"></span>ently a<span class=\"_ _0\"></span>vailable for<span class=\"_ _0\"></span> debt on si<span class=\"_ _0\"></span>milar terms,<span class=\"_ _0\"></span> credi<span class=\"_ _3\"></span>t risk a<span class=\"_ _3\"></span>nd re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>g ma<span class=\"_ _3\"></span>turi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>s of 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2022, t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te is not m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>lly d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t from t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te of the f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _141\"> </span>T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p enter<span class=\"_ _3\"></span>s into de<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>vati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h various c<span class=\"_ _0\"></span>ounterparties, principally<span class=\"_ _0\"></span> financial institut<span class=\"_ _0\"></span>ions with inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de cred<span class=\"_ _3\"></span>it rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>s va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> with marke<span class=\"_ _0\"></span>t observable inputs are<span class=\"_ _0\"></span> mainly in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span> rate (<span class=\"_ _0\"></span>cap/floor<span class=\"_ _0\"></span>) swaps and f<span class=\"_ _0\"></span>oreign ex<span class=\"_ _0\"></span>change forward<span class=\"_ _0\"></span> contracts. The mo<span class=\"_ _0\"></span>st frequen<span class=\"_ _0\"></span>tly applied<span class=\"_ _0\"></span> valuation<span class=\"_ _0\"></span> techn<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd pr<span class=\"_ _3\"></span>icin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d sw<span class=\"_ _3\"></span>ap m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, usin<span class=\"_ _3\"></span>g presen<span class=\"_ _0\"></span>t value cal<span class=\"_ _0\"></span>culations.<span class=\"_ _0\"></span> The models incorporat<span class=\"_ _0\"></span>e variou<span class=\"_ _0\"></span>s inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>pot a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ward r<span class=\"_ _3\"></span>ates and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>te c<span class=\"_ _0\"></span>ur<span class=\"_ _3\"></span>ves. Fai<span class=\"_ _0\"></span>r value hierarchyA<span class=\"_ _3\"></span>s at 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p he<span class=\"_ _3\"></span>ld th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span> ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>d at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>As<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure<span class=\"_ _3\"></span>d at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1c6\"> </span>2,187<span class=\"_ _94\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>,055 <span class=\"_ _8c\"> </span><span class=\"lsfe ws11b\">5<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>45</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Investments<span class=\"_ _2b4\"> </span>37<span class=\"_ _2\"></span>,337<span class=\"_ _4e\"> </span> 46,680<span class=\"_ _0\"></span> <span class=\"_ _4e\"> </span><span class=\"lsde wsfb\"> 8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,651 </span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b5\"> </span>350<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-</span>Liabilities<span class=\"_ _0\"></span> measured at fa<span class=\"_ _0\"></span>ir valueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1a2\"> </span>2,<span class=\"_ _3\"></span>373<span class=\"_ _11\"> </span><span class=\"lse7 ws104\">859<span class=\"_ _70\"> </span><span class=\"ls131 ws161\">5,<span class=\"_ _3\"></span>529</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b6\"> </span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">6<span class=\"_ _3\"></span>82<span class=\"_ _10\"> </span><span class=\"lsfb ws118\">1,0<span class=\"_ _3\"></span>80</span></span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup us<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g hi<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>rchy for dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d discl<span class=\"_ _3\"></span>osin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s by v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tec<span class=\"_ _0\"></span>hnique:Leve<span class=\"_ _3\"></span>l 1: <span class=\"ff4\">qu<span class=\"_ _3\"></span>oted (una<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d) pr<span class=\"_ _3\"></span>ices in a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s for i<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span></span>tic<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s;Leve<span class=\"_ _3\"></span>l 2: othe<span class=\"_ _3\"></span>r techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch all i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>uts w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch have a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e are obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le, either d<span class=\"_ _0\"></span>irectly<span class=\"_ _0\"></span> or indirectl<span class=\"_ _0\"></span>y;Le<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>l 3:<span class=\"_ _3\"></span><span class=\"ff4 ls4 wse\"> techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>at use i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s havi<span class=\"_ _3\"></span>ng a s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>can<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fect </span>on th<span class=\"_ _3\"></span>e record<span class=\"_ _3\"></span>ed f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e tha<span class=\"_ _3\"></span>t are not b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on o<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble market<span class=\"_ _0\"></span> data.All f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ues m<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ta<span class=\"_ _3\"></span>ble re<span class=\"_ _3\"></span>late to Level 2, except fo<span class=\"_ _3\"></span>r the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on le<span class=\"_ _3\"></span>vel 1 inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith pu<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>roll<span class=\"_ _3\"></span>ing interes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are in t<span class=\"_ _3\"></span>he IFR<span class=\"_ _3\"></span>S fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue hi<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>archy leve<span class=\"_ _3\"></span>l 3, i.<span class=\"_ _3\"></span>e. on<span class=\"_ _3\"></span>e or more s<span class=\"_ _0\"></span>ignificant inputs are<span class=\"_ _0\"></span> not based on<span class=\"_ _0\"></span> obser<span class=\"_ _3\"></span>vable mark<span class=\"_ _0\"></span>et dat<span class=\"_ _3\"></span>a (see n<span class=\"_ _3\"></span>ote 15).Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, the<span class=\"_ _3\"></span>re were n<span class=\"_ _3\"></span>o tra<span class=\"_ _3\"></span>nsfe<span class=\"_ _3\"></span>rs b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en Leve<span class=\"_ _3\"></span>l 1 and Le<span class=\"_ _3\"></span>vel 2 f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e measur<span class=\"_ _0\"></span>ements<span class=\"_ _3\"></span>.Changes in liabilities arising from financing activitiesNon-cash c<span class=\"_ _0\"></span>hangesIFR<span class=\"_ _3\"></span>S 16 <span class=\"_ _21\"></span> Fore<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>n excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro1 January 2022<span class=\"_ _fe\"> </span><span class=\"ls4 ws4\">C<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ows</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _5c\"> </span><span class=\"ls4 ws4\">A<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>ion / s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _e9\"> </span><span class=\"ls4 ws4\">31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022</span>Long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debtsLong-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b8\"> </span><span class=\"ff5 ls10a ws127\">16,<span class=\"_ _0\"></span>000<span class=\"_ _bc\"> </span><span class=\"ff4 lsed ws10a\">-2,173<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _8f\"> </span></span>172<span class=\"_ _d8\"> </span><span class=\"ls4 ws4\">2<span class=\"_ _e1\"> </span></span></span>1<span class=\"_ _0\"></span>4,000</span>Long-term lease liabilities<span class=\"_ _2a0\"> </span><span class=\"ff5 ls3c ws48\">18,<span class=\"_ _3\"></span>366<span class=\"_ _25c\"> </span></span>-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>16<span class=\"_ _7e\"> </span>1<span class=\"_ _0\"></span>0,134<span class=\"_ _b3\"> </span>-<span class=\"_ _144\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _bc\"> </span><span class=\"ff5 lsfb ws118\">18,<span class=\"_ _3\"></span>335</span></span>Short<span class=\"_ _0\"></span>-ter<span class=\"_ _0\"></span>m debtsShort-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b9\"> </span><span class=\"ff5 ls10a ws127\">2,000<span class=\"_ _b3\"> </span></span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _c0\"> </span><span class=\"ff5 ls10a ws127\">2,000</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _2ba\"> </span><span class=\"ff5 ls3c ws48\">8,218<span class=\"_ _d6\"> </span></span><span class=\"lsed ws10a\">999<span class=\"_ _90\"> </span></span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _d0\"> </span><span class=\"ff5 ls3c ws48\">9,217</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties from fi<span class=\"_ _0\"></span>nancing activities<span class=\"_ _3f\"> </span>44,585<span class=\"_ _65\"> </span>-1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _78\"> </span><span class=\"lse6 ws103\">10,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>4<span class=\"_ _8d\"> </span></span>172<span class=\"_ _1ef\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _bc\"> </span><span class=\"lsfb ws118\">43,552</span></span>Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es are to<span class=\"_ _3\"></span>geth<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>he lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s as sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l of cur<span class=\"_ _3\"></span>rent po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, as s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>.21. Rights and commitments not reflected in the balance sheetIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _22d\"> </span>Note<span class=\"_ _6e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020</span>Guarantees<span class=\"_ _0\"></span> given to<span class=\"_ _0\"></span> third parties<span class=\"_ _23a\"> </span>(a)<span class=\"_ _255\"> </span>3,594<span class=\"_ _6e\"> </span>3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>474<span class=\"_ _8c\"> </span><span class=\"ls4 ws28c\"> <span class=\"_ _8\"> </span>3,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>0    </span>Mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tga<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s gi<span class=\"_ _3\"></span>ven a<span class=\"_ _3\"></span>s se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _2bb\"> </span>(b)<span class=\"_ _46\"> </span>30<span class=\"_ _0\"></span>,000<span class=\"_ _3d\"> </span>30,000<span class=\"_ _1aa\"> </span><span class=\"ws28d\"> <span class=\"_ _8\"> </span>30,<span class=\"_ _0\"></span>000    </span>   Bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _22c\"> </span>29,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>39<span class=\"_ _1a8\"> </span><span class=\"ls138 ws167\">33<span class=\"_ _3\"></span>,029<span class=\"_ _46\"> </span></span><span class=\"ws28c\"> <span class=\"_ _8\"> </span>36<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>27    </span>(a) <span class=\"_ _1\"></span>G<span class=\"_ _3\"></span>uarant<span class=\"_ _0\"></span>ees given t<span class=\"_ _0\"></span>o third<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>ties mainly<span class=\"_ _0\"></span> relate<span class=\"_ _0\"></span> to guaran<span class=\"_ _0\"></span>tees given<span class=\"_ _0\"></span> to cu<span class=\"_ _0\"></span>stomers f<span class=\"_ _0\"></span>or ongoing projects, guarant<span class=\"_ _0\"></span>ees given<span class=\"_ _0\"></span> to sup<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s for inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd to au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s for comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to VA<span class=\"_ _2\"></span>T, dutie<span class=\"_ _3\"></span>s, etc. (b) Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tgag<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hree lo<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s of 10 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro each to f<span class=\"_ _3\"></span>und t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ter c<span class=\"_ _3\"></span>amp<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net bo<span class=\"_ _3\"></span>ok va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e sin<span class=\"_ _3\"></span>ce 2020 is due to d<span class=\"_ _3\"></span>epre<span class=\"_ _3\"></span>ciati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-222-6": {
   "value": "The Group has no contingent liabilities or capital commit-ments in relation to its associates as at 31 December 2022, 2021 and 2020.With respect to the contingent liabilities related to former acquisitions, there is one earn-out capped at 15 million euro linked to the retention of the former shareholders and future results for which the future results could not be reliably esti-mated at acquisition. The earn-outs will flow through profit and loss at moment of payment over the earn-out period, which ends May 25, 2026. Per end 2022, no payments occurred under this earn-out.21. Rights and commitments not reflected in the balance sheetIn thousands of euro Note 2022 2021 2020Guarantees given to third parties (a) 3,594 3,474   3,850    Mortgage obligations given as security (b) 30,000 30,000   30,000       Book value of the relevant assets 29,539 33,029   36,527    (a) Guarantees given to third parties mainly relate to guarantees given to customers for ongoing projects, guarantees given to suppliers for investment projects and to authorities for commitments related to VAT, duties, etc. (b) The total mortgage includes three loans of 10 million euro each to fund the headquarter campus. The decrease in net book value since 2020 is due to depreciation.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-222-7": {
   "value": "The Group has no contingent liabilities or capital commit-ments in relation to its associates as at 31 December 2022, 2021 and 2020.With respect to the contingent liabilities related to former acquisitions, there is one earn-out capped at 15 million euro linked to the retention of the former shareholders and future results for which the future results could not be reliably esti-mated at acquisition. The earn-outs will flow through profit and loss at moment of payment over the earn-out period, which ends May 25, 2026. Per end 2022, no payments occurred under this earn-out.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-231-5": {
   "value": "13. Amounts receivable and other non-current assetsIn thousands of euro 2022 2021 2020Trade debtors - gross 197,493 160,930 150,452Trade debtors - bad debt reserve  (a)-2,850 -3,954 -4,314Trade debtors - net  (b)194,643 156,977 146,138V.A.T. Receivable 5,911 6,418 5,358Taxes receivable 3,491 6,083 5,744Interest receivable 1 4 24Currency rate swap (note 20) 2,537 1,055 5,345Other 2,569 2,650 1,319Other amounts receivable 14,509 16,211 17,789Other non-current assets  (c)5,819 6,849 5,870Number of days sales outstanding (DSO) 54 56 67Per 31 December 2022, the number of days sales outstanding decreased to 54 days (56 days in 2021 and 67 in 2020) and are back at pre-covid levels. The higher number of days sales outstanding in 2020 was the result of higher overdues, mainly from cinema customers, caused by the covid-19 global impact on the cinema markets. For the year ended December 31, 2022, the Company set up a limited extra provision for current expected credit losses (2022: -0.2 million euro; 2021: + 0.4 million euro profit) reflecting a lower credit risk of its customers related accounts receivable compared to 2020. The extra provision recorded in 2020 (1.5 million euro) reflected a reduction in the credit quality of spe-cific cinema customers related accounts receivable as a result of the covid-19 global pandemic. The bad debt reserve in proportion to the gross amount of trade debtors decreased to 1.5% (2020: 2.5%, 2020: 2.9%).(a) Movement in bad debt reserve:In thousands of euro 2022 2021 2020On 1 January -3,954 -4,314 -2,874Additional provisions -1,191 -797 -2,341Amounts used 1,234 444 100Amounts unused 1,156 833 645Translation (losses) / gains -93 -120 156On 31 December -2,850 -3,954 -4,314(b) At 31 December 2022 the ageing analysis of trade debtors is as follows:In thousands of euro 2022 2021 2020Not due 171,431 138,188 111,020Overdue less than 30 days 12,699 10,377 12,282Overdue between 30 and 90 days 9,176 6,620 6,246Overdue between 90 days and 180 days 2,869 1,746 12,899Overdue more than 180 days 1,318 4,000 8,005Total gross 197,493 160,930 150,452Bad debt reserve -2,850 -3,954 -4,314Total 194,643 156,977 146,138In 2022, total overdue trade receivables amount to 26.1 million euro (2021: 22.7 million euro, 2020: 39.4 million euro), resulting in 7 days overdue DSO (2021: 9 days, 2020: 19 days), which is even better than pre-covid levels.The increase in overdue amounts and long outstanding overdues in 2020 was mainly from the Company\u2019s cinema customers. The Company was able to reach extended payment plans, which were honored by the major part of its customers in 2021, resulting in a decrease of the Company\u2019s overdues from 19 days in 2020 to 9 days in 2021. The Company has a credit insurance in place for specific higher risk cinema contracts and for cinema customers with long payment terms. During 2021 and 2022, the Company did not need to exercise its rights under the insurance as the cus-tomers, for which the credit insurance is in place, paid timely.The bad debt reserve in 2022 covers more than double of the trade receivables overdue more than 180 days (2021: 99%, 2020: 54%). Pre covid level was around 140%. In 2020, the Company has taken into account the credit insurance in place, payment plans being honored and revenue recognition, when assessing the potential credit risk and the need for recording a bad debt reserve on expected credit losses, which explains the bad debt reserve in 2020 amounting to 54% of the trade receivables overdue more than 180 days.(c) Other non-current assetsThe other non-current assets include mainly cash guarantees for an amount of 2.7 million euro (2021: 5.6 million euro, 2020: 5 million euro) and 1.6 million euro other long term receivable related to a subleased building in America.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-231-6": {
   "value": "13. Amounts receivable and other non-current assetsIn thousands of euro 2022 2021 2020Trade debtors - gross 197,493 160,930 150,452Trade debtors - bad debt reserve  (a)-2,850 -3,954 -4,314Trade debtors - net  (b)194,643 156,977 146,138V.A.T. Receivable 5,911 6,418 5,358Taxes receivable 3,491 6,083 5,744Interest receivable 1 4 24Currency rate swap (note 20) 2,537 1,055 5,345Other 2,569 2,650 1,319Other amounts receivable 14,509 16,211 17,789Other non-current assets  (c)5,819 6,849 5,870Number of days sales outstanding (DSO) 54 56 67(c) Other non-current assetsThe other non-current assets include mainly cash guarantees for an amount of 2.7 million euro (2021: 5.6 million euro, 2020: 5 million euro) and 1.6 million euro other long term receivable related to a subleased building in America.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-231-7": {
   "value": "13. Amounts receivable and other non-current assetsIn thousands of euro 2022 2021 2020Trade debtors - gross 197,493 160,930 150,452Trade debtors - bad debt reserve  (a)-2,850 -3,954 -4,314Trade debtors - net  (b)194,643 156,977 146,138V.A.T. Receivable 5,911 6,418 5,358Taxes receivable 3,491 6,083 5,744Interest receivable 1 4 24Currency rate swap (note 20) 2,537 1,055 5,345Other 2,569 2,650 1,319Other amounts receivable 14,509 16,211 17,789Other non-current assets  (c)5,819 6,849 5,870Number of days sales outstanding (DSO) 54 56 67(c) Other non-current assetsThe other non-current assets include mainly cash guarantees for an amount of 2.7 million euro (2021: 5.6 million euro, 2020: 5 million euro) and 1.6 million euro other long term receivable related to a subleased building in America.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-231-8": {
   "value": "13. Amounts receivable and other non-current assetsIn thousands of euro 2022 2021 2020Trade debtors - gross 197,493 160,930 150,452Trade debtors - bad debt reserve  (a)-2,850 -3,954 -4,314Trade debtors - net  (b)194,643 156,977 146,138V.A.T. Receivable 5,911 6,418 5,358Taxes receivable 3,491 6,083 5,744Interest receivable 1 4 24Currency rate swap (note 20) 2,537 1,055 5,345Other 2,569 2,650 1,319Other amounts receivable 14,509 16,211 17,789Other non-current assets  (c)5,819 6,849 5,870Number of days sales outstanding (DSO) 54 56 67",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-242-3": {
   "value": "14<span class=\"_ _0\"></span>. Net financial cash/debtIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Short ter<span class=\"_ _0\"></span>m investmen<span class=\"_ _0\"></span>ts<span class=\"ff4 fs3 ls4 ws4\"> <span class=\"_ _b0\"> </span></span><span class=\"lse6 ws103\">(a)</span>1,<span class=\"_ _3\"></span>651<span class=\"_ _cd\"> </span><span class=\"ls1af ws281\">2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>3<span class=\"_ _280\"> </span><span class=\"ls131 ws161\">3,175</span></span>Dep<span class=\"_ _3\"></span>osits <span class=\"_ _1c1\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>151,491<span class=\"_ _103\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _289\"> </span><span class=\"lsdd wsfa\">79,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>Ca<span class=\"_ _3\"></span>sh at b<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>k <span class=\"_ _289\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>15<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>42<span class=\"_ _9b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,453<span class=\"_ _230\"> </span></span>155,<span class=\"_ _3\"></span>426Ca<span class=\"_ _3\"></span>sh in h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d<span class=\"_ _1f2\"> </span>82<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">79<span class=\"_ _1b1\"> </span><span class=\"lse9 ws106\">65</span></span>Cash and cash<span class=\"_ _0\"></span> equivalents<span class=\"_ _28a\"> </span><span class=\"lsee ws10b\">305,<span class=\"_ _3\"></span>915<span class=\"_ _230\"> </span><span class=\"ls10e ws12b\">351<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _5b\"> </span></span>235<span class=\"_ _3\"></span>,402</span>Long-term<span class=\"_ _0\"></span> financial rec<span class=\"_ _0\"></span>eivablesLong-term<span class=\"_ _0\"></span> debts <span class=\"_ _1f1\"> </span><span class=\"fs7b lsf0 ws10d\">(c)</span>-32,<span class=\"_ _3\"></span>335<span class=\"_ _230\"> </span>-34,<span class=\"_ _3\"></span>366<span class=\"_ _230\"> </span><span class=\"ls36 ws40\">-35,854</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm d<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>ts <span class=\"_ _105\"> </span><span class=\"fs7b lsf0 ws10d\">(c<span class=\"_ _3\"></span>)</span>-<span class=\"_ _0\"></span>11,217<span class=\"_ _28b\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>18<span class=\"_ _289\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>187</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s <span class=\"_ _20a\"> </span><span class=\"fs7b ls10e ws12b\">(d)</span>-<span class=\"_ _28c\"> </span>-<span class=\"_ _1be\"> </span><span class=\"ls109 ws126\"> -<span class=\"_ _3\"></span>86</span>Net fi<span class=\"_ _0\"></span>nancial cash /<span class=\"_ _0\"></span> (debt)<span class=\"_ _10a\"> </span>26<span class=\"_ _3\"></span>4,0<span class=\"_ _3\"></span>14<span class=\"_ _5b\"> </span><span class=\"lse7 ws104\">3<span class=\"_ _3\"></span>09,<span class=\"_ _3\"></span>750<span class=\"_ _95\"> </span><span class=\"ls131 ws161\">19<span class=\"_ _0\"></span>3<span class=\"_ _3\"></span>,450</span></span>At th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, Ba<span class=\"_ _3\"></span>rco\u2019s net ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on reach<span class=\"_ _3\"></span>es 26<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 45.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lower co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to las<span class=\"_ _3\"></span>t year (202<span class=\"_ _3\"></span>1: 309.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 193.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ve free c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (1<span class=\"_ _3\"></span>3 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), a num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease of B<span class=\"_ _3\"></span>arco's sha<span class=\"_ _3\"></span>re in Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic fro<span class=\"_ _3\"></span>m 55% to 80% and t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red sh<span class=\"_ _3\"></span>are in Gn<span class=\"_ _3\"></span>osco AB (<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), divi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>ut  (-2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>nd us<span class=\"_ _3\"></span>e of own s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s for s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). We refer to the s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, note 16 an<span class=\"_ _3\"></span>d note 1<span class=\"_ _3\"></span>1 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Of th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>, 30<span class=\"_ _3\"></span>6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is cas<span class=\"_ _3\"></span>h on t<span class=\"_ _3\"></span>he bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. A<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial f<span class=\"_ _3\"></span>lex<span class=\"_ _3\"></span>ibi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d with 82.5<span class=\"_ _0\"></span> million eur<span class=\"_ _0\"></span>o of<span class=\"_ _0\"></span> unused bilat<span class=\"_ _0\"></span>eral c<span class=\"_ _0\"></span>ommitted c<span class=\"_ _0\"></span>redit<span class=\"_ _0\"></span> facil<span class=\"ls4 ws4\">-</span>itie<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted grou<span class=\"_ _3\"></span>p of com<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rcial ba<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion to<span class=\"_ _0\"></span> significant liquidi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, Barc<span class=\"_ _0\"></span>o has a<span class=\"_ _0\"></span> well-balan<span class=\"_ _3\"></span>ced<span class=\"_ _0\"></span> debt pro<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>ile wit<span class=\"_ _3\"></span>h deb<span class=\"_ _3\"></span>t lim<span class=\"_ _3\"></span>ited to 43.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro of w<span class=\"_ _3\"></span>hich 1<span class=\"_ _3\"></span>1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro near<span class=\"_ _0\"></span>-term maturi<span class=\"_ _0\"></span>ties.Th<span class=\"_ _3\"></span>e net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 202<span class=\"_ _3\"></span>1 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts to 30<span class=\"_ _3\"></span>9.8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 116 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>ared to e<span class=\"_ _3\"></span>nd 2020, a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>itive f<span class=\"_ _3\"></span>ree c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (<span class=\"_ _3\"></span>78 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), sold inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), di<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds pa<span class=\"_ _3\"></span>id o<span class=\"_ _3\"></span>ut (-21 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy ba<span class=\"_ _3\"></span>ck pro<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>am ( -1<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and us<span class=\"_ _3\"></span>e of own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s for sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>eme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, n<span class=\"_ _3\"></span>ote 16 and n<span class=\"_ _3\"></span>ote 11 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re explanation.(a<span class=\"_ _0\"></span>) Short ter<span class=\"_ _0\"></span>m inves<span class=\"_ _0\"></span>tments and<span class=\"_ _0\"></span> deposits:Th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>its d<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>t car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y a ma<span class=\"_ _3\"></span>te<span class=\"ls4 ws4\">-</span>ria<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k of chan<span class=\"_ _3\"></span>ge i<span class=\"_ _3\"></span>n va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.At closi<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>ate, all s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s include<span class=\"_ _0\"></span>:Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _28d\"> </span><span class=\"ls198 ws26e\">2022</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _ad\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _65\"> </span><span class=\"ls198 ws26e\">2020</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ateDep<span class=\"_ _3\"></span>osits in USD<span class=\"_ _245\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>8<span class=\"_ _62\"> </span>4.<span class=\"_ _3\"></span>22%<span class=\"_ _255\"> </span>1<span class=\"_ _3\"></span>41<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24<span class=\"_ _63\"> </span>0.<span class=\"_ _3\"></span>09%<span class=\"_ _235\"> </span><span class=\"lse0 wsfd\">71<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>839<span class=\"_ _6a\"> </span>0.70%</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n EUR<span class=\"_ _203\"> </span>19,<span class=\"_ _0\"></span>000<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>25%<span class=\"_ _1ef\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1f6\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _1f6\"> </span>-</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n HKD<span class=\"_ _24e\"> </span>9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>79<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>%<span class=\"_ _68\"> </span>45,0<span class=\"_ _3\"></span>57<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">0.27<span class=\"_ _3\"></span>%<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _1ef\"> </span>-De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n INR<span class=\"_ _159\"> </span>1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.97<span class=\"_ _3\"></span>%<span class=\"_ _25c\"> </span>2,7<span class=\"_ _0\"></span>63<span class=\"_ _11\"> </span>4.<span class=\"_ _3\"></span>10%<span class=\"_ _81\"> </span><span class=\"ls89 wsa4\">3,175<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">3<span class=\"_ _3\"></span>.61<span class=\"_ _3\"></span>%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n CNY<span class=\"_ _266\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _6a\"> </span>9,<span class=\"_ _3\"></span>36<span class=\"_ _3\"></span>8<span class=\"_ _25c\"> </span>2.1<span class=\"_ _3\"></span>1%<span class=\"_ _65\"> </span><span class=\"lsee ws10b\">6,<span class=\"_ _3\"></span>232<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>8%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s<span class=\"_ _19a\"> </span><span class=\"lsed ws10a\">2,307<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _16b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>291<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">1,<span class=\"_ _3\"></span>839<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"></span>53,<span class=\"_ _3\"></span>142<span class=\"_ _18a\"> </span><span class=\"lse7 ws104\">19<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>80<span class=\"_ _3\"></span>2<span class=\"_ _a1\"> </span><span class=\"ls131 ws161\">83,086</span></span>Cas<span class=\"_ _3\"></span>h in Ho<span class=\"_ _3\"></span>ng Ko<span class=\"_ _3\"></span>ng wa<span class=\"_ _3\"></span>s use<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e repa<span class=\"_ _3\"></span>ym<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s in Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 17<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e purch<span class=\"_ _3\"></span>ase of oth<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow reg<span class=\"_ _3\"></span>ulato<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>old l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s in H<span class=\"_ _3\"></span>KD in 2022 compar<span class=\"_ _0\"></span>ed t<span class=\"_ _0\"></span>o 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>r dep<span class=\"_ _3\"></span>osi<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s in U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d HKD in 202<span class=\"_ _3\"></span>1 are h<span class=\"_ _3\"></span>eld in th<span class=\"_ _3\"></span>e accord<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed, avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g FX i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t &amp; loss<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imiz<span class=\"_ _3\"></span>ing y<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>ld (by avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive y<span class=\"_ _3\"></span>iel<span class=\"_ _3\"></span>ds in EUR<span class=\"_ _3\"></span>).Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are conve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tib<span class=\"_ _3\"></span>le to kn<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>hree a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>elve m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs fro<span class=\"_ _3\"></span>m ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n. De<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m (be<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n zero and t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs), highly liquid<span class=\"_ _0\"></span> investments, which<span class=\"_ _0\"></span> are r<span class=\"_ _0\"></span>eadily con<span class=\"_ _0\"></span>ver<span class=\"_ _3\"></span>tible t<span class=\"_ _0\"></span>o kno<span class=\"_ _3\"></span>wn am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h.(b) Ca<span class=\"_ _3\"></span>sh at ba<span class=\"_ _3\"></span>nk: Cas<span class=\"_ _3\"></span>h at ba<span class=\"_ _3\"></span>nk is im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>tely ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le. It is d<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>omi<span class=\"_ _3\"></span>nated i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing curr<span class=\"_ _0\"></span>encies:2022<span class=\"_ _8b\"> </span>2021<span class=\"_ _4f\"> </span>20<span class=\"_ _3\"></span>20EUR<span class=\"_ _284\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls106 ws123\">5<span class=\"_ _3\"></span>4.4%<span class=\"_ _98\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>4.7%</span></span>HKD<span class=\"_ _223\"> </span>7.<span class=\"_ _3\"></span>1<span class=\"_ _4\"> </span>%<span class=\"_ _147\"> </span><span class=\"lse7 ws104\">3.9<span class=\"_ _3\"></span>%<span class=\"_ _53\"> </span><span class=\"ls139 ws168\">28.8%</span></span>CNY<span class=\"_ _265\"> </span>15.<span class=\"_ _3\"></span>8%<span class=\"_ _89\"> </span><span class=\"ls106 ws123\">8<span class=\"_ _3\"></span>.5%<span class=\"_ _51\"> </span><span class=\"lsee ws10b\">15.<span class=\"_ _3\"></span>3%</span></span>USD<span class=\"_ _265\"> </span>2<span class=\"_ _3\"></span>1.2%<span class=\"_ _4f\"> </span><span class=\"lsfc ws119\">19.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">8<span class=\"_ _3\"></span>.6%</span></span>Others<span class=\"_ _262\"> </span><span class=\"lsdc wsf9\">14.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _86\"> </span>14.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>5%</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-242-4": {
   "value": "14. Net financial cash/debtIn thousands of euro 2022 2021 2020Short term investments  (a)1,651 2,763 3,175Deposits  (a)151,491 197,039 79,911Cash at bank  (b)154,342 154,453 155,426Cash in hand 82 79 65Cash and cash equivalents 305,915 351,571 235,402Long-term financial receivablesLong-term debts  (c)-32,335 -34,366 -35,854Current portion of long-term debts  (c)-11,217 -10,218 -9,187Short-term debts  (d)- -  -86Net financial cash / (debt) 264,014 309,750 193,450(c) Long-term financial debts: The below table gives an overview of the long-term financial debts including the current portion of long-term financial debts, per type of interest rate:Type of interest rate Maturity 31 December 2022 31 December 2021 31 December 2020Real estate financing   Variable, swapped into fixed (EU) Later than 2025 8,288 9,563 10,838   Variable (EU) Later than 2025 7,713 8,438 9,163Leasing (IFRS 16) 27,458 26,482 24,929Other 94 103 113Total long-term financial debts  43,552 44,585 45,042Barco NV signed a number of bilateral committed credit facilities totaling 28 million euro, for the financing of Barco\u2019s headquarters campus project. Drawings have a long-term tenor of 15 years following the end of the availability period (as of the end of 2015). An amount of 16 million euro is out-standing per 31.12.2022. These commitments carry either a variable interest rate or have been swapped via derivatives into fixed rate character.Barco is meeting all requirements of the loan covenants on its available credit facilities.The below table summarizes the long-term financial debts, including the current portion of long-term financial debts, per currency:2022 2021 2020EUR 28,213 28,078 31,348USD 3,829 4,584 4,098INR 5,154 3,446 4,162Other 6,356 8,477 5,434Total 43,552 44,585 45,042The long-term debts, including interests due, and excluding the current portion of the long-term debts, are payable as follows:Per 31 December 2022 Per 31 December 2021 Per 31 December 2020Payable in 2024 9,784 Payable in 2023 10,128 Payable in 2022 9,883Payable in 2025 8,081 Payable in 2024 7,724 Payable in 2023 7,03 4Payable in 2026 5,559 Payable in 2025 5,883 Payable in 2024 6,214Payable in 2027 3,535 Payable in 2026 3,799 Payable in 2025 5,083Later 7,667 Later 9,679 Later 13,168Total long-term debts 34,625 Total long-term debts 37,21 2 Total long-term debts 41,381The lease liabilities per 31 December are as follows:In thousands of euro 2022 2021 2020On 1 January 26,482 24,929 28,259New leases or extensions of current leases 10,991 10,702 11,000Payments or termination of leases -10,060 -10,159 -13,132Translation (losses)/gains 45 1,011 -1,199Total lease liabilities on 31 December 27,458 26,482 24,929Current 9,217 8,218 7,187Non-current 18,241 18,264 17,742Changes in liabilities arising from financing activitiesNon-cash changesIFRS 16  Foreign exchange In thousands of euro1 January 2022 Cash flowsmovements Acquisition / salemovement 31 December 2022Long-term debtsLong-term liabilities 16,000 -2,173 - 172 2 14,000Long-term lease liabilities 18,366 -10,216 10,134 - 51 18,335Short-term debtsShort-term liabilities 2,000 - - - - 2,000Short-term lease liabilities 8,218 999 - - - 9,217Total liabilities from financing activities 44,585 -11,391 10,134 172 53 43,552The long-term liabilities and lease liabilities are together the long-term debts as shown in the balance sheet. The short-term liabilities are the total of current portion of long-term debts and short-term debts, as shown in the balance sheet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-258-5": {
   "value": "The long-term debts, including interests due, and excluding the current portion of the long-term debts, are payable as follows:Per 31 December 2022 Per 31 December 2021 Per 31 December 2020Payable in 2024 9,784 Payable in 2023 10,128 Payable in 2022 9,883Payable in 2025 8,081 Payable in 2024 7,724 Payable in 2023 7,03 4Payable in 2026 5,559 Payable in 2025 5,883 Payable in 2024 6,214Payable in 2027 3,535 Payable in 2026 3,799 Payable in 2025 5,083Later 7,667 Later 9,679 Later 13,168Total long-term debts 34,625 Total long-term debts 37,21 2 Total long-term debts 41,381The solvency position and other current ratios continue to con-solidate at healthy levels. Together with the existing committed credit facilities, management considers that it has secured a healthy liquidity profile and strong capital base for the further development of the group.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-3": {
   "value": "15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-4": {
   "value": "15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-5": {
   "value": "15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-6": {
   "value": "15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.18. T<span class=\"_ _18\"></span>rade payables and advances received from customersIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>T<span class=\"_ _0\"></span>rade payables<span class=\"_ _0\"></span><span class=\"fs3 ls4 ws4\"> <span class=\"_ _19b\"> </span><span class=\"fs7b lsfc ws119\">(a)</span></span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,920<span class=\"_ _262\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3,97<span class=\"_ _3\"></span>9<span class=\"_ _1ff\"> </span><span class=\"lse0 wsfd\">70,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>9</span>Day<span class=\"_ _3\"></span>s pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DP<span class=\"_ _3\"></span>O)<span class=\"_ _2a5\"> </span>68<span class=\"_ _117\"> </span><span class=\"ls135 ws164\">80<span class=\"_ _2a6\"> </span><span class=\"ls42 ws6f\">53</span></span>Advances<span class=\"_ _0\"></span> received<span class=\"_ _0\"></span> from c<span class=\"_ _0\"></span>ustomers<span class=\"_ _1e\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>3<span class=\"_ _1d5\"> </span>54<span class=\"_ _3\"></span>,105<span class=\"_ _1d5\"> </span><span class=\"lsf0 ws10d\">42,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>5</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepositsFromCustomersExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-7": {
   "value": "15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-2": {
   "value": "16. Equity attributable to equity holders of the parentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>Share<span class=\"_ _0\"></span> capital<span class=\"_ _1b8\"> </span>56,752<span class=\"_ _e2\"> </span><span class=\"ls3c ws48\">5<span class=\"_ _3\"></span>6,296<span class=\"_ _14d\"> </span><span class=\"ls36 ws40\">55,87<span class=\"_ _0\"></span>9</span></span>Share<span class=\"_ _0\"></span> premium<span class=\"_ _1bd\"> </span>1<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>9<span class=\"_ _262\"> </span><span class=\"lsf4 ws111\">161<span class=\"_ _3\"></span>,09<span class=\"_ _3\"></span>1<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3</span></span>Share-based payments<span class=\"_ _23e\"> </span>20,21<span class=\"_ _3\"></span>5<span class=\"_ _1d5\"> </span><span class=\"lsfb ws118\">18,667<span class=\"_ _5b\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>0</span></span>Acquir<span class=\"_ _0\"></span>ed own shar<span class=\"_ _0\"></span>es<span class=\"_ _23a\"> </span>-25<span class=\"_ _3\"></span>,443<span class=\"_ _26f\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>,435<span class=\"_ _c9\"> </span><span class=\"lsdd wsfa\">-26<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>2</span></span>Retained e<span class=\"_ _0\"></span>arnings<span class=\"_ _ed\"> </span>55<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>777<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1f1\"> </span><span class=\"lsdc wsf9\">5<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093</span></span>Cumulativ<span class=\"_ _0\"></span>e translation<span class=\"_ _0\"></span> adjustment<span class=\"_ _19a\"> </span>-28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>350<span class=\"_ _c9\"> </span><span class=\"ls12f ws159\">-37<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>906<span class=\"_ _267\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93</span></span>Derivatives<span class=\"_ _27c\"> </span>319<span class=\"_ _289\"> </span><span class=\"ls102 ws11f\">-71<span class=\"_ _1\"></span>3<span class=\"_ _20f\"> </span><span class=\"ls19a ws26f\">-<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>111</span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y ho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">7<span class=\"_ _3\"></span>59,1<span class=\"_ _3\"></span>89<span class=\"_ _a7\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span></span>65<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>30<span class=\"_ _3\"></span>9</span>1<span class=\"_ _3\"></span>. Sh<span class=\"_ _3\"></span>are c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l, s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re pre<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>um an<span class=\"_ _3\"></span>d own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s had i<span class=\"_ _3\"></span>n 2022 th<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to elec<span class=\"_ _3\"></span>t for a di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd in ca<span class=\"_ _3\"></span>sh or a d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion to rei<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e gross div<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d over 202<span class=\"_ _3\"></span>1 has res<span class=\"_ _3\"></span>ulted i<span class=\"_ _3\"></span>n a sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>se of 14,17<span class=\"_ _3\"></span>3 (00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atutor<span class=\"_ _1\"></span>y ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al of 456 (0<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>) euro.A<span class=\"_ _3\"></span>s a resul<span class=\"_ _3\"></span>t, th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 56.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro o<span class=\"_ _3\"></span>n 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing of 92<span class=\"_ _3\"></span>,91<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>45 fu<span class=\"_ _3\"></span>lly paid shar<span class=\"_ _0\"></span>es.In th<span class=\"_ _3\"></span>e Ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ao<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y G<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>eeti<span class=\"_ _3\"></span>ng of 25 A<span class=\"_ _3\"></span>pr<span class=\"_ _3\"></span>il 2019, Ba<span class=\"_ _3\"></span>rco\u2019s sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ized a sha<span class=\"_ _3\"></span>re bu<span class=\"_ _3\"></span>yba<span class=\"_ _3\"></span>ck. A f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy<span class=\"_ _3\"></span>back<span class=\"_ _3\"></span> pro<span class=\"_ _3\"></span>gra<span class=\"_ _3\"></span>m for a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od o<span class=\"_ _3\"></span>f 6 mo<span class=\"_ _3\"></span>nths<span class=\"_ _3\"></span>, st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n 20 Se<span class=\"_ _3\"></span>ptem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, 2021 wa<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nced o<span class=\"_ _3\"></span>n 16 Sep<span class=\"_ _3\"></span>temb<span class=\"_ _3\"></span>er, 2021.Barco a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red 60<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>00 ow<span class=\"_ _3\"></span>n sh<span class=\"_ _3\"></span>ares fo<span class=\"_ _3\"></span>r a total a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 1<span class=\"_ _3\"></span>1,18<span class=\"_ _3\"></span>6 (0<span class=\"_ _3\"></span>00) e<span class=\"_ _3\"></span>uro in 202<span class=\"_ _3\"></span>1. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _0\"></span>, B<span class=\"_ _3\"></span>arco sol<span class=\"_ _3\"></span>d in tota<span class=\"_ _3\"></span>l 57<span class=\"_ _0\"></span>4,760 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res in 202<span class=\"_ _3\"></span>2 upo<span class=\"_ _3\"></span>n the e<span class=\"_ _3\"></span>xercise of 5<span class=\"_ _3\"></span>7<span class=\"_ _0\"></span>4,760 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons w<span class=\"_ _3\"></span>ith a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>ing d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s of 5,992 (\u2018<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>ium a<span class=\"_ _3\"></span>ccount o<span class=\"_ _3\"></span>f 1,6<span class=\"_ _3\"></span>55(\u2018<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red by Ba<span class=\"_ _3\"></span>rco NV up to 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2 th<span class=\"_ _3\"></span>erefore d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>sed to 2,45<span class=\"_ _3\"></span>7<span class=\"_ _2\"></span>,922 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res (2021: 3<span class=\"_ _3\"></span>,032,682; 2020: 3,160,032 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res). The tot<span class=\"_ _3\"></span>al va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 20.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 2022.A<span class=\"_ _3\"></span>s a resul<span class=\"_ _3\"></span>t of the s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re div<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d stock-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>ium a<span class=\"_ _3\"></span>ccount p<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span> am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s to 17<span class=\"_ _3\"></span>7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro.2. Share-based paymentsOn 8 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, 2 new o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Boa<span class=\"_ _3\"></span>rd of Di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, throu<span class=\"_ _3\"></span>gh w<span class=\"_ _3\"></span>hich m<span class=\"_ _3\"></span>axi<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m 575,0<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s could b<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. Each s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght to th<span class=\"_ _3\"></span>e acqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne (1<span class=\"_ _3\"></span>) sha<span class=\"_ _3\"></span>re. In 2022<span class=\"_ _3\"></span>, 322,<span class=\"_ _3\"></span>833 s<span class=\"_ _3\"></span>tock op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d to and acc<span class=\"_ _0\"></span>epted<span class=\"_ _0\"></span> by employ<span class=\"_ _0\"></span>ees and management of<span class=\"_ _0\"></span> the group<span class=\"_ _0\"></span> bas<span class=\"_ _3\"></span>ed up<span class=\"_ _3\"></span>on t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. On 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, n<span class=\"_ _3\"></span>o opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s rema<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e 2022 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on sch<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Stock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ansTh<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s on 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unted to 2,4<span class=\"_ _3\"></span>01<span class=\"_ _3\"></span>,900. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny<span class=\"_ _3\"></span>\u2019s own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be us<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>ll th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022, 574,7<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>0 stock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n exercise<span class=\"_ _3\"></span>d (in 202<span class=\"_ _3\"></span>1, 7<span class=\"_ _3\"></span>27<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons). Th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons m<span class=\"_ _3\"></span>ay be exe<span class=\"_ _3\"></span>rcise<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>arl<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>t 3 yea<span class=\"_ _3\"></span>rs af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n date (i.e<span class=\"_ _3\"></span>. the ve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d) over a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of ma<span class=\"_ _3\"></span>xim<span class=\"_ _3\"></span>um 10 year<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a coup<span class=\"_ _3\"></span>le of f<span class=\"_ _3\"></span>ixed p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds over th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. Be<span class=\"_ _3\"></span>low is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g stock option plans<span class=\"_ _0\"></span>:Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice <span class=\"_ _26\"></span> Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Acce<span class=\"_ _3\"></span>pted <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>ed <span class=\"_ _26\"></span> Ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Expired <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Allocatio<span class=\"_ _3\"></span>n date<span class=\"_ _1ef\"> </span><span class=\"lsa7 ws14d\">End te<span class=\"_ _3\"></span>rm</span>(in euro<span class=\"_ _0\"></span>)31 De<span class=\"_ _3\"></span>c 2021in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>231 De<span class=\"_ _3\"></span>c 2022Stock<span class=\"_ _0\"></span> options10/31<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>2<span class=\"_ _289\"> </span>10/<span class=\"_ _3\"></span>30/<span class=\"_ _3\"></span>22<span class=\"_ _297\"> </span>7.<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _d7\"> </span>4,<span class=\"_ _3\"></span>200<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span><span class=\"ls102 ws11f\">-70<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _d1\"> </span></span>0</span>10/2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>3<span class=\"_ _289\"> </span>10/20/2<span class=\"_ _3\"></span>3<span class=\"_ _188\"> </span>8<span class=\"_ _3\"></span>.43<span class=\"_ _be\"> </span>1<span class=\"_ _3\"></span>1,0<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-1,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _101\"> </span><span class=\"lse3 ws100\">9,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/2<span class=\"_ _0\"></span>4<span class=\"_ _298\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _1b0\"> </span>18<span class=\"_ _3\"></span>,891<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">-2<span class=\"_ _3\"></span>,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _22a\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>91</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/22<span class=\"_ _297\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _bc\"> </span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _78\"> </span><span class=\"lsed ws10a\">-12,600<span class=\"_ _1af\"> </span></span>-<span class=\"_ _67\"> </span><span class=\"ls106 ws123\">-12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span></span>0</span>110/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>1410/22/22<span class=\"_ _1d4\"> </span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>16,45<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>300<span class=\"_ _38\"> </span></span>0</span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span>10/21/25<span class=\"_ _281\"> </span>8.16<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"ls84 ws9f\">-<span class=\"_ _3\"></span>4,550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _a5\"> </span><span class=\"lsfb ws118\">8,65<span class=\"_ _3\"></span>0</span></span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span><span class=\"lsee ws10b\">10/21/23<span class=\"_ _1b1\"> </span><span class=\"ls139 ws168\">8.16<span class=\"_ _d2\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _da\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls84 ws9f\">-4,<span class=\"_ _3\"></span>550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1d0\"> </span>-<span class=\"_ _b0\"> </span></span></span></span>32,55<span class=\"_ _3\"></span>0</span>110/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>510/21/23<span class=\"_ _297\"> </span>8.<span class=\"_ _3\"></span>26<span class=\"_ _e1\"> </span>20,6<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls89 wsa4\">-5,<span class=\"_ _3\"></span>250<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"lsfe ws11b\">15,4<span class=\"_ _3\"></span>00</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/26<span class=\"_ _1be\"> </span>10.<span class=\"_ _3\"></span>40<span class=\"_ _81\"> </span>14<span class=\"_ _0\"></span>3,960<span class=\"_ _1d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-18,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _78\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>25<span class=\"_ _3\"></span>,160</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/24<span class=\"_ _1be\"> </span>10<span class=\"_ _3\"></span>.40<span class=\"_ _be\"> </span>42<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,650<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">35,<span class=\"_ _3\"></span>560</span></span>110<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>610/23/2<span class=\"_ _0\"></span>4<span class=\"_ _18b\"> </span>10<span class=\"_ _3\"></span>.61<span class=\"_ _be\"> </span>22,601<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-2,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _b0\"> </span><span class=\"ls138 ws167\">20,<span class=\"_ _3\"></span>501</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/27<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _78\"> </span>214<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>75<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"lse3 ws100\">-<span class=\"_ _3\"></span>29,6<span class=\"_ _3\"></span>50<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _1af\"> </span></span></span>-<span class=\"_ _67\"> </span><span class=\"ls89 wsa4\">181,425</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/25<span class=\"_ _18b\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _7e\"> </span>65,800<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls191 ws255\">-6,000<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _de\"> </span><span class=\"lse7 ws104\">59,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>110/20/1<span class=\"_ _3\"></span>710/16/2<span class=\"_ _3\"></span>5<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.67<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"ls106 ws123\">-110<span class=\"_ _3\"></span>,05<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _d2\"> </span></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>0<span class=\"_ _4\"> </span>0</span>10/23/<span class=\"_ _3\"></span>18<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/28<span class=\"_ _1c7\"> </span>14.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _25c\"> </span>410<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">-360,<span class=\"_ _3\"></span>350<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls42 ws6f\">50,550</span></span>10/11<span class=\"_ _3\"></span>/19<span class=\"_ _d5\"> </span>10/10/<span class=\"_ _3\"></span>29<span class=\"_ _185\"> </span>24.<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _ad\"> </span>323,<span class=\"_ _3\"></span>330<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _16b\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _ad\"> </span><span class=\"lse7 ws104\">269,43<span class=\"_ _3\"></span>0</span></span>10/29/20<span class=\"_ _26d\"> </span>10/28/<span class=\"_ _3\"></span>30<span class=\"_ _185\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.76<span class=\"_ _11\"> </span>40<span class=\"_ _0\"></span>3,000<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _7e\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,1<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>81,85<span class=\"_ _3\"></span>0</span></span>1<span class=\"_ _3\"></span>2/0<span class=\"_ _3\"></span>6/2<span class=\"_ _3\"></span>1<span class=\"_ _a6\"> </span>12<span class=\"_ _3\"></span>/06/<span class=\"_ _3\"></span>31<span class=\"_ _18b\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>0<span class=\"_ _73\"> </span>882,40<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _bb\"> </span><span class=\"lsde wsfb\">-28,7<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">853<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>0</span></span>12/08<span class=\"_ _0\"></span>/22<span class=\"_ _26d\"> </span>1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7/<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>2<span class=\"_ _1ca\"> </span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>.<span class=\"_ _3\"></span>74<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>89,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">28<span class=\"_ _3\"></span>9,94<span class=\"_ _3\"></span>6</span></span>112/08<span class=\"_ _0\"></span>/221<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>/<span class=\"_ _3\"></span>07/<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _299\"> </span>22.<span class=\"_ _3\"></span>32<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887</span></span> T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of st<span class=\"_ _3\"></span>ock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s2,78<span class=\"_ _0\"></span>3,141322,<span class=\"_ _3\"></span>833<span class=\"_ _76\"> </span>-5<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>0<span class=\"_ _6a\"> </span>-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _ad\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _255\"> </span></span>2,4<span class=\"_ _3\"></span>01,9<span class=\"_ _3\"></span>00(1) De<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on o<span class=\"_ _3\"></span>f exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice a<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he U<span class=\"_ _3\"></span>S su<span class=\"_ _3\"></span>b pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sto<span class=\"_ _3\"></span>ck opti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns is reco<span class=\"_ _3\"></span>gnized ove<span class=\"_ _3\"></span>r the ves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d on a s<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht lin<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in ot<span class=\"_ _3\"></span>her o<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>d at gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te, base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>are pr<span class=\"_ _3\"></span>ice at gr<span class=\"_ _3\"></span>ant date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d vola<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mates a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d with 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro to 20.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 (2021: 4.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 2.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). In 2021, 3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is refle<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (see n<span class=\"_ _3\"></span>ote 3 (d) an<span class=\"_ _3\"></span>d 1.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of sh<span class=\"_ _3\"></span>are o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of t<span class=\"_ _3\"></span>he for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny (se<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>'<span class=\"_ _3\"></span>).3. Retained earni<span class=\"_ _0\"></span>ngsTh<span class=\"_ _3\"></span>e cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in ret<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et in<span class=\"_ _3\"></span>come of 2022, a<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>al p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>s, ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of 35.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, as ap<span class=\"_ _3\"></span>proved by t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>l sh<span class=\"_ _3\"></span>areh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g of 28 Ap<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>l 2022. T<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>rd of dire<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s of Ba<span class=\"_ _3\"></span>rco NV wil<span class=\"_ _3\"></span>l prop<span class=\"_ _3\"></span>ose a g<span class=\"_ _3\"></span>ross dividend of<span class=\"_ _0\"></span> 0.44 euro<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>er shar<span class=\"_ _0\"></span>e out o<span class=\"_ _0\"></span>f the available<span class=\"_ _0\"></span> reserves pe<span class=\"_ _3\"></span>r 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. I<span class=\"_ _3\"></span>n 2022 a gross d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 0.40 e<span class=\"_ _3\"></span>uro pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re was g<span class=\"_ _3\"></span>rante<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s of 2021 for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers h<span class=\"_ _3\"></span>ad t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on to eit<span class=\"_ _3\"></span>her re<span class=\"_ _3\"></span>ceive c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>w sha<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany, 41% opted fo<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>res in<span class=\"_ _3\"></span>stead o<span class=\"_ _3\"></span>f cas<span class=\"_ _3\"></span>h, resu<span class=\"_ _3\"></span>ltin<span class=\"_ _3\"></span>g in ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l pay<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut of 21 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>den<span class=\"_ _3\"></span>d in 2022.4. Cumulativ<span class=\"_ _0\"></span>e translation adjustmentIn 2022, t<span class=\"_ _3\"></span>he exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge di<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces on t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>slat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f forei<span class=\"_ _3\"></span>gn op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns hav<span class=\"_ _3\"></span>e a net p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ive im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of 1<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro, mai<span class=\"_ _3\"></span>nly<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to foreig<span class=\"_ _3\"></span>n bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces h<span class=\"_ _3\"></span>eld i<span class=\"_ _3\"></span>n Hon<span class=\"_ _3\"></span>g Kon<span class=\"_ _3\"></span>g Do<span class=\"_ _3\"></span>lla<span class=\"_ _3\"></span>r (10.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), US Dol<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r (6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), Ch<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>se Yuan (-1<span class=\"_ _3\"></span>.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>an Ru<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>e (-1.<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>.5. DerivativesDe<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in n<span class=\"_ _3\"></span>ote 20.6. Main<span class=\"_ _0\"></span> shareholdersBefore DilutionPublic<span class=\"_ _18b\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _7b\"> </span><span class=\"ls131 ws161\">62.48%</span></span>Van<span class=\"_ _3\"></span>dew<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>le G<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>up NV<span class=\"_ _62\"> </span><span class=\"ls131 ws161\">20,162,824<span class=\"_ _100\"> </span><span class=\"lse0 wsfd\">21<span class=\"_ _3\"></span>.70<span class=\"_ _3\"></span>%</span></span>3D N<span class=\"_ _3\"></span>V<span class=\"_ _298\"> </span><span class=\"ls36 ws40\">4,808,391<span class=\"_ _65\"> </span><span class=\"lsed ws10a\">5.17%</span></span>Norges<span class=\"_ _0\"></span> Bank<span class=\"_ _1ff\"> </span><span class=\"lsde wsfb\">4,10<span class=\"_ _3\"></span>2,0<span class=\"_ _3\"></span>42<span class=\"_ _65\"> </span><span class=\"ls103 ws120\">4.<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>%</span></span>Al<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ra EQ<span class=\"_ _3\"></span>MC A<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et  3,<span class=\"_ _3\"></span>328<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>66<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">3.58%</span>Management SGIIC,<span class=\"_ _0\"></span> S.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.Ba<span class=\"_ _3\"></span>rco NV<span class=\"_ _292\"> </span><span class=\"lsfe ws11b\">2,457,<span class=\"_ _0\"></span>922<span class=\"_ _6a\"> </span><span class=\"ls106 ws123\">2<span class=\"_ _3\"></span>.65%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _1b1\"> </span><span class=\"lse0 wsfd\">92<span class=\"_ _3\"></span>,916<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>45<span class=\"_ _73\"> </span><span class=\"lse6 ws103\">100%</span></span>17<span class=\"_ _2\"></span>. Non-controlling interestTh<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y intere<span class=\"_ _3\"></span>st he<span class=\"_ _3\"></span>ld by no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>ts:Name<span class=\"_ _26f\"> </span>Count<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>y of i<span class=\"_ _0\"></span>ncorporation<span class=\"_ _0\"></span> and operation<span class=\"_ _17c\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _36\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _3d\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _145\"> </span>Hong Kong<span class=\"_ _21d\"> </span>20%<span class=\"_ _40\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _40\"> </span>45%</span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1ef\"> </span>Sw<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>n<span class=\"_ _29a\"> </span><span class=\"lsf5 ws112\">30%<span class=\"_ _cf\"> </span></span>-<span class=\"_ _7e\"> </span>-Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e to non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntrol<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _e2\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _262\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _45\"> </span>20,345<span class=\"_ _2b\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1fb\"> </span><span class=\"ls84 ws9f\">-554<span class=\"_ _10d\"> </span></span>-<span class=\"_ _117\"> </span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bu<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>n-co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>oll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st<span class=\"_ _26d\"> </span>1<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>92<span class=\"_ _da\"> </span><span class=\"lsf9 ws116\"> 41<span class=\"_ _3\"></span>,031<span class=\"_ _3\"></span> <span class=\"_ _274\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _0\"></span>,798</span></span>Up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic, t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s have contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l of Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Ltd. tot<span class=\"_ _3\"></span>ali<span class=\"_ _3\"></span>ng 45% of tot<span class=\"_ _3\"></span>al contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns of USD 10<span class=\"_ _3\"></span>0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns all g<span class=\"_ _3\"></span>ave ri<span class=\"_ _3\"></span>ght to 45% in th<span class=\"_ _3\"></span>e Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>ies\u2019 e<span class=\"_ _3\"></span>quit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd resu<span class=\"_ _3\"></span>lt. In 202<span class=\"_ _3\"></span>2 Ba<span class=\"_ _3\"></span>rco agree<span class=\"_ _3\"></span>d to buy t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>kes h<span class=\"_ _3\"></span>eld by t<span class=\"_ _3\"></span>he minority shareholders Appotr<span class=\"_ _0\"></span>onics and CITIC<span class=\"_ _0\"></span>PE in Ci<span class=\"_ _0\"></span>nionic, incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco\u2019s owner<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture to 80%<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he 20% s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ke is show<span class=\"_ _3\"></span>n as n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>troll<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>ls of C<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c are f<span class=\"_ _3\"></span>ully co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t resu<span class=\"_ _3\"></span>lts i<span class=\"_ _3\"></span>n 2020 - 2022.In ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqu<span class=\"_ _3\"></span>ired 70% of th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive co<span class=\"_ _3\"></span>ntrol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Jul<span class=\"_ _3\"></span>y 2022, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co fig<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re take<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>rom 1 Ju<span class=\"_ _3\"></span>ly, 2022 onwa<span class=\"_ _3\"></span>rds.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l enti<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, 2021 a<span class=\"_ _3\"></span>nd 2020. Assets and Liabilities Cinionic JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ff\"> </span>2021<span class=\"_ _262\"> </span>2020</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1cc\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>,081<span class=\"_ _1f1\"> </span></span> 6,<span class=\"_ _3\"></span>788 <span class=\"_ _1d6\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>1 </span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1c4\"> </span>134,2<span class=\"_ _2\"></span>48<span class=\"_ _252\"> </span><span class=\"lsdc wsf9\"> 1<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>07 <span class=\"_ _39\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span> </span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _17\"> </span>14<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>329<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\"> 121,<span class=\"_ _3\"></span>595 <span class=\"_ _d3\"> </span><span class=\"lsfc ws119\"> 1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 </span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _29c\"> </span>81,<span class=\"_ _3\"></span>381<span class=\"_ _22\"> </span><span class=\"lsdc wsf9\"> 50,<span class=\"_ _3\"></span>149 <span class=\"_ _21f\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>197<span class=\"_ _3\"></span> </span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _29d\"> </span>20,3<span class=\"_ _3\"></span>45<span class=\"_ _1f0\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _1f8\"> </span>101<span class=\"_ _3\"></span>,726<span class=\"_ _2b\"> </span><span class=\"ls4 ws4\"> 91<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>181 <span class=\"_ _252\"> </span> 83,<span class=\"_ _3\"></span>995 </span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _1a7\"> </span>2<span class=\"_ _3\"></span>9,6<span class=\"_ _3\"></span>45<span class=\"_ _22\"> </span><span class=\"lsde wsfb\"> 28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>2 <span class=\"_ _252\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>0 </span></span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _20d\"> </span><span class=\"lsf7 ws114\">4<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>24<span class=\"_ _22\"> </span> 2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span> <span class=\"_ _21f\"> </span> 24,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> </span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1b8\"> </span>171,395<span class=\"_ _90\"> </span><span class=\"lse0 wsfd\"> 146<span class=\"_ _3\"></span>,416 <span class=\"_ _44\"> </span><span class=\"lsfe ws11b\"> 132<span class=\"_ _3\"></span>,601 </span></span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Li<span class=\"_ _3\"></span>mited<span class=\"_ _3\"></span>, Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic bv, Barco Cin<span class=\"_ _3\"></span>eA<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _1\"></span>. de C<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>V., Cinio<span class=\"_ _3\"></span>nic I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Lt<span class=\"_ _0\"></span>d<span class=\"_ _3\"></span>.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nosco le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022. Assets and Liabilities Gnosco JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _29e\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>4<span class=\"_ _4\"> </span>4<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _22d\"> </span><span class=\"lsfb ws118\">1,<span class=\"_ _3\"></span>218</span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _216\"> </span><span class=\"lsf5 ws112\">8<span class=\"_ _3\"></span>,66<span class=\"_ _3\"></span>4</span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _1cf\"> </span><span class=\"lsfe ws11b\">2,791</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _10b\"> </span><span class=\"ls84 ws9f\">-55<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _27c\"> </span><span class=\"ls36 ws40\">2,237</span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _159\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a2\"> </span><span class=\"lsee ws10b\">1,632</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1f8\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>5</span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co lega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>, Ba<span class=\"_ _3\"></span>rco Solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns BV<span class=\"_ _0\"></span>, G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco De<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus Ltd.Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e net i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng int<span class=\"_ _0\"></span>erest:% no<span class=\"_ _3\"></span>n-In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f eurocontrolling<span class=\"_ _4d\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ed\"> </span>2021<span class=\"_ _14f\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _29f\"> </span>3<span class=\"_ _3\"></span>74<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\"> -20<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"ls4 ws4\"> 618 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _2a0\"> </span>6,<span class=\"_ _3\"></span>628<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">2<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>59<span class=\"_ _cb\"> </span><span class=\"lsef ws10c\"> -741</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _129\"> </span>1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _30\"> </span><span class=\"ls102 ws11f\"> -7<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _d8\"> </span><span class=\"lsf5 ws112\"> -389</span></span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _198\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>343<span class=\"_ _1d0\"> </span><span class=\"ls3c ws48\">238<span class=\"_ _d8\"> </span><span class=\"lsfe ws11b\"> -23<span class=\"_ _3\"></span>3</span></span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _20b\"> </span>146<span class=\"_ _278\"> </span><span class=\"lsf4 ws111\"> 1<span class=\"_ _3\"></span>16 <span class=\"_ _e3\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _219\"> </span><span class=\"ls109 ws126\">-<span class=\"_ _3\"></span>688<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a1\"> </span><span class=\"lsdd wsfa\">-976<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _1f3\"> </span>2<span class=\"_ _5b\"> </span>-<span class=\"_ _5b\"> </span>-Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _12a\"> </span>4,<span class=\"_ _3\"></span>215<span class=\"_ _44\"> </span><span class=\"ls10e ws12b\">1<span class=\"_ _3\"></span>,951<span class=\"_ _cb\"> </span><span class=\"ls1a3 ws276\">-74<span class=\"_ _3\"></span>5</span></span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1a8\"> </span>75<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _c1\"> </span><span class=\"lsdc wsf9\"> -<span class=\"_ _3\"></span>93<span class=\"_ _50\"> </span></span>45%<span class=\"_ _5a\"> </span><span class=\"ls4 ws4\"> 278 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _1f2\"> </span>20%<span class=\"_ _c2\"> </span>1,<span class=\"_ _3\"></span>326<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>51<span class=\"_ _50\"> </span></span>45%<span class=\"_ _58\"> </span><span class=\"lsf5 ws112\"> -33<span class=\"_ _3\"></span>4</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1aa\"> </span>2<span class=\"_ _3\"></span>14<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _148\"> </span><span class=\"lse0 wsfd\"> -3<span class=\"_ _3\"></span>39<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c7\"> </span> -1<span class=\"_ _3\"></span>75</span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _109\"> </span><span class=\"ls138 ws167\">20%<span class=\"_ _51\"> </span></span>-4<span class=\"_ _3\"></span>69<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _4e\"> </span><span class=\"ls103 ws120\">107<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c5\"> </span> -105</span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _266\"> </span>20%<span class=\"_ _3a\"> </span>29<span class=\"_ _14e\"> </span>4<span class=\"_ _3\"></span>5%<span class=\"_ _1a8\"> </span>52<span class=\"_ _151\"> </span><span class=\"lsf5 ws112\">0%<span class=\"_ _98\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _77\"> </span>30%<span class=\"_ _4f\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>6<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a3\"> </span>30%<span class=\"_ _bd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>293<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _249\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>0%<span class=\"_ _255\"> </span></span>1<span class=\"_ _5b\"> </span>-<span class=\"_ _263\"> </span>-Net i<span class=\"_ _0\"></span>ncome attri<span class=\"_ _0\"></span>butable to<span class=\"_ _0\"></span> non-contr<span class=\"_ _0\"></span>olling int<span class=\"_ _0\"></span>erest<span class=\"_ _2a4\"> </span>677<span class=\"_ _278\"> </span><span class=\"lsf5 ws112\">878<span class=\"_ _b3\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5</span></span>Oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me/(los<span class=\"_ _3\"></span>s) for th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, n<span class=\"_ _3\"></span>et of ta<span class=\"_ _3\"></span>x ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>terest a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 2.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022<span class=\"_ _3\"></span>, 2.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021 an<span class=\"_ _3\"></span>d -2.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year, net of ta<span class=\"_ _3\"></span>x, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib-uta<span class=\"_ _3\"></span>ble to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntroll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 3.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022, 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2021 a<span class=\"_ _3\"></span>nd -2.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-3": {
   "value": "16. Equity attributable to equity holders of the parentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>Share<span class=\"_ _0\"></span> capital<span class=\"_ _1b8\"> </span>56,752<span class=\"_ _e2\"> </span><span class=\"ls3c ws48\">5<span class=\"_ _3\"></span>6,296<span class=\"_ _14d\"> </span><span class=\"ls36 ws40\">55,87<span class=\"_ _0\"></span>9</span></span>Share<span class=\"_ _0\"></span> premium<span class=\"_ _1bd\"> </span>1<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>9<span class=\"_ _262\"> </span><span class=\"lsf4 ws111\">161<span class=\"_ _3\"></span>,09<span class=\"_ _3\"></span>1<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3</span></span>Share-based payments<span class=\"_ _23e\"> </span>20,21<span class=\"_ _3\"></span>5<span class=\"_ _1d5\"> </span><span class=\"lsfb ws118\">18,667<span class=\"_ _5b\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>0</span></span>Acquir<span class=\"_ _0\"></span>ed own shar<span class=\"_ _0\"></span>es<span class=\"_ _23a\"> </span>-25<span class=\"_ _3\"></span>,443<span class=\"_ _26f\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>,435<span class=\"_ _c9\"> </span><span class=\"lsdd wsfa\">-26<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>2</span></span>Retained e<span class=\"_ _0\"></span>arnings<span class=\"_ _ed\"> </span>55<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>777<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1f1\"> </span><span class=\"lsdc wsf9\">5<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093</span></span>Cumulativ<span class=\"_ _0\"></span>e translation<span class=\"_ _0\"></span> adjustment<span class=\"_ _19a\"> </span>-28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>350<span class=\"_ _c9\"> </span><span class=\"ls12f ws159\">-37<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>906<span class=\"_ _267\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93</span></span>Derivatives<span class=\"_ _27c\"> </span>319<span class=\"_ _289\"> </span><span class=\"ls102 ws11f\">-71<span class=\"_ _1\"></span>3<span class=\"_ _20f\"> </span><span class=\"ls19a ws26f\">-<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>111</span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y ho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">7<span class=\"_ _3\"></span>59,1<span class=\"_ _3\"></span>89<span class=\"_ _a7\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span></span>65<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>30<span class=\"_ _3\"></span>9</span>2. Share-based paymentsOn 8 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, 2 new o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Boa<span class=\"_ _3\"></span>rd of Di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, throu<span class=\"_ _3\"></span>gh w<span class=\"_ _3\"></span>hich m<span class=\"_ _3\"></span>axi<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m 575,0<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s could b<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. Each s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght to th<span class=\"_ _3\"></span>e acqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne (1<span class=\"_ _3\"></span>) sha<span class=\"_ _3\"></span>re. In 2022<span class=\"_ _3\"></span>, 322,<span class=\"_ _3\"></span>833 s<span class=\"_ _3\"></span>tock op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d to and acc<span class=\"_ _0\"></span>epted<span class=\"_ _0\"></span> by employ<span class=\"_ _0\"></span>ees and management of<span class=\"_ _0\"></span> the group<span class=\"_ _0\"></span> bas<span class=\"_ _3\"></span>ed up<span class=\"_ _3\"></span>on t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. On 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, n<span class=\"_ _3\"></span>o opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s rema<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e 2022 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on sch<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Stock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ansTh<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s on 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unted to 2,4<span class=\"_ _3\"></span>01<span class=\"_ _3\"></span>,900. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny<span class=\"_ _3\"></span>\u2019s own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be us<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>ll th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022, 574,7<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>0 stock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n exercise<span class=\"_ _3\"></span>d (in 202<span class=\"_ _3\"></span>1, 7<span class=\"_ _3\"></span>27<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons). Th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons m<span class=\"_ _3\"></span>ay be exe<span class=\"_ _3\"></span>rcise<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>arl<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>t 3 yea<span class=\"_ _3\"></span>rs af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n date (i.e<span class=\"_ _3\"></span>. the ve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d) over a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of ma<span class=\"_ _3\"></span>xim<span class=\"_ _3\"></span>um 10 year<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a coup<span class=\"_ _3\"></span>le of f<span class=\"_ _3\"></span>ixed p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds over th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. Be<span class=\"_ _3\"></span>low is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g stock option plans<span class=\"_ _0\"></span>:Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice <span class=\"_ _26\"></span> Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Acce<span class=\"_ _3\"></span>pted <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>ed <span class=\"_ _26\"></span> Ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Expired <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Allocatio<span class=\"_ _3\"></span>n date<span class=\"_ _1ef\"> </span><span class=\"lsa7 ws14d\">End te<span class=\"_ _3\"></span>rm</span>(in euro<span class=\"_ _0\"></span>)31 De<span class=\"_ _3\"></span>c 2021in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>231 De<span class=\"_ _3\"></span>c 2022Stock<span class=\"_ _0\"></span> options10/31<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>2<span class=\"_ _289\"> </span>10/<span class=\"_ _3\"></span>30/<span class=\"_ _3\"></span>22<span class=\"_ _297\"> </span>7.<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _d7\"> </span>4,<span class=\"_ _3\"></span>200<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span><span class=\"ls102 ws11f\">-70<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _d1\"> </span></span>0</span>10/2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>3<span class=\"_ _289\"> </span>10/20/2<span class=\"_ _3\"></span>3<span class=\"_ _188\"> </span>8<span class=\"_ _3\"></span>.43<span class=\"_ _be\"> </span>1<span class=\"_ _3\"></span>1,0<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-1,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _101\"> </span><span class=\"lse3 ws100\">9,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/2<span class=\"_ _0\"></span>4<span class=\"_ _298\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _1b0\"> </span>18<span class=\"_ _3\"></span>,891<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">-2<span class=\"_ _3\"></span>,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _22a\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>91</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/22<span class=\"_ _297\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _bc\"> </span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _78\"> </span><span class=\"lsed ws10a\">-12,600<span class=\"_ _1af\"> </span></span>-<span class=\"_ _67\"> </span><span class=\"ls106 ws123\">-12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span></span>0</span>110/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>1410/22/22<span class=\"_ _1d4\"> </span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>16,45<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>300<span class=\"_ _38\"> </span></span>0</span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span>10/21/25<span class=\"_ _281\"> </span>8.16<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"ls84 ws9f\">-<span class=\"_ _3\"></span>4,550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _a5\"> </span><span class=\"lsfb ws118\">8,65<span class=\"_ _3\"></span>0</span></span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span><span class=\"lsee ws10b\">10/21/23<span class=\"_ _1b1\"> </span><span class=\"ls139 ws168\">8.16<span class=\"_ _d2\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _da\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls84 ws9f\">-4,<span class=\"_ _3\"></span>550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1d0\"> </span>-<span class=\"_ _b0\"> </span></span></span></span>32,55<span class=\"_ _3\"></span>0</span>110/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>510/21/23<span class=\"_ _297\"> </span>8.<span class=\"_ _3\"></span>26<span class=\"_ _e1\"> </span>20,6<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls89 wsa4\">-5,<span class=\"_ _3\"></span>250<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"lsfe ws11b\">15,4<span class=\"_ _3\"></span>00</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/26<span class=\"_ _1be\"> </span>10.<span class=\"_ _3\"></span>40<span class=\"_ _81\"> </span>14<span class=\"_ _0\"></span>3,960<span class=\"_ _1d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-18,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _78\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>25<span class=\"_ _3\"></span>,160</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/24<span class=\"_ _1be\"> </span>10<span class=\"_ _3\"></span>.40<span class=\"_ _be\"> </span>42<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,650<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">35,<span class=\"_ _3\"></span>560</span></span>110<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>610/23/2<span class=\"_ _0\"></span>4<span class=\"_ _18b\"> </span>10<span class=\"_ _3\"></span>.61<span class=\"_ _be\"> </span>22,601<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-2,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _b0\"> </span><span class=\"ls138 ws167\">20,<span class=\"_ _3\"></span>501</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/27<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _78\"> </span>214<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>75<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"lse3 ws100\">-<span class=\"_ _3\"></span>29,6<span class=\"_ _3\"></span>50<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _1af\"> </span></span></span>-<span class=\"_ _67\"> </span><span class=\"ls89 wsa4\">181,425</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/25<span class=\"_ _18b\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _7e\"> </span>65,800<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls191 ws255\">-6,000<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _de\"> </span><span class=\"lse7 ws104\">59,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>110/20/1<span class=\"_ _3\"></span>710/16/2<span class=\"_ _3\"></span>5<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.67<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"ls106 ws123\">-110<span class=\"_ _3\"></span>,05<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _d2\"> </span></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>0<span class=\"_ _4\"> </span>0</span>10/23/<span class=\"_ _3\"></span>18<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/28<span class=\"_ _1c7\"> </span>14.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _25c\"> </span>410<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">-360,<span class=\"_ _3\"></span>350<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls42 ws6f\">50,550</span></span>10/11<span class=\"_ _3\"></span>/19<span class=\"_ _d5\"> </span>10/10/<span class=\"_ _3\"></span>29<span class=\"_ _185\"> </span>24.<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _ad\"> </span>323,<span class=\"_ _3\"></span>330<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _16b\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _ad\"> </span><span class=\"lse7 ws104\">269,43<span class=\"_ _3\"></span>0</span></span>10/29/20<span class=\"_ _26d\"> </span>10/28/<span class=\"_ _3\"></span>30<span class=\"_ _185\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.76<span class=\"_ _11\"> </span>40<span class=\"_ _0\"></span>3,000<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _7e\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,1<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>81,85<span class=\"_ _3\"></span>0</span></span>1<span class=\"_ _3\"></span>2/0<span class=\"_ _3\"></span>6/2<span class=\"_ _3\"></span>1<span class=\"_ _a6\"> </span>12<span class=\"_ _3\"></span>/06/<span class=\"_ _3\"></span>31<span class=\"_ _18b\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>0<span class=\"_ _73\"> </span>882,40<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _bb\"> </span><span class=\"lsde wsfb\">-28,7<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">853<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>0</span></span>12/08<span class=\"_ _0\"></span>/22<span class=\"_ _26d\"> </span>1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7/<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>2<span class=\"_ _1ca\"> </span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>.<span class=\"_ _3\"></span>74<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>89,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">28<span class=\"_ _3\"></span>9,94<span class=\"_ _3\"></span>6</span></span>112/08<span class=\"_ _0\"></span>/221<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>/<span class=\"_ _3\"></span>07/<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _299\"> </span>22.<span class=\"_ _3\"></span>32<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887</span></span> T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of st<span class=\"_ _3\"></span>ock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s2,78<span class=\"_ _0\"></span>3,141322,<span class=\"_ _3\"></span>833<span class=\"_ _76\"> </span>-5<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>0<span class=\"_ _6a\"> </span>-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _ad\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _255\"> </span></span>2,4<span class=\"_ _3\"></span>01,9<span class=\"_ _3\"></span>00(1) De<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on o<span class=\"_ _3\"></span>f exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice a<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he U<span class=\"_ _3\"></span>S su<span class=\"_ _3\"></span>b pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sto<span class=\"_ _3\"></span>ck opti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns is reco<span class=\"_ _3\"></span>gnized ove<span class=\"_ _3\"></span>r the ves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d on a s<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht lin<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in ot<span class=\"_ _3\"></span>her o<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>d at gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te, base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>are pr<span class=\"_ _3\"></span>ice at gr<span class=\"_ _3\"></span>ant date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d vola<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mates a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d with 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro to 20.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 (2021: 4.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 2.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). In 2021, 3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is refle<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (see n<span class=\"_ _3\"></span>ote 3 (d) an<span class=\"_ _3\"></span>d 1.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of sh<span class=\"_ _3\"></span>are o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of t<span class=\"_ _3\"></span>he for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny (se<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>'<span class=\"_ _3\"></span>).3. Retained earni<span class=\"_ _0\"></span>ngsTh<span class=\"_ _3\"></span>e cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in ret<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et in<span class=\"_ _3\"></span>come of 2022, a<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>al p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>s, ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of 35.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, as ap<span class=\"_ _3\"></span>proved by t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>l sh<span class=\"_ _3\"></span>areh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g of 28 Ap<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>l 2022. T<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>rd of dire<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s of Ba<span class=\"_ _3\"></span>rco NV wil<span class=\"_ _3\"></span>l prop<span class=\"_ _3\"></span>ose a g<span class=\"_ _3\"></span>ross dividend of<span class=\"_ _0\"></span> 0.44 euro<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>er shar<span class=\"_ _0\"></span>e out o<span class=\"_ _0\"></span>f the available<span class=\"_ _0\"></span> reserves pe<span class=\"_ _3\"></span>r 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. I<span class=\"_ _3\"></span>n 2022 a gross d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 0.40 e<span class=\"_ _3\"></span>uro pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re was g<span class=\"_ _3\"></span>rante<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s of 2021 for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers h<span class=\"_ _3\"></span>ad t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on to eit<span class=\"_ _3\"></span>her re<span class=\"_ _3\"></span>ceive c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>w sha<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany, 41% opted fo<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>res in<span class=\"_ _3\"></span>stead o<span class=\"_ _3\"></span>f cas<span class=\"_ _3\"></span>h, resu<span class=\"_ _3\"></span>ltin<span class=\"_ _3\"></span>g in ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l pay<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut of 21 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>den<span class=\"_ _3\"></span>d in 2022.4. Cumulativ<span class=\"_ _0\"></span>e translation adjustmentIn 2022, t<span class=\"_ _3\"></span>he exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge di<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces on t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>slat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f forei<span class=\"_ _3\"></span>gn op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns hav<span class=\"_ _3\"></span>e a net p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ive im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of 1<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro, mai<span class=\"_ _3\"></span>nly<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to foreig<span class=\"_ _3\"></span>n bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces h<span class=\"_ _3\"></span>eld i<span class=\"_ _3\"></span>n Hon<span class=\"_ _3\"></span>g Kon<span class=\"_ _3\"></span>g Do<span class=\"_ _3\"></span>lla<span class=\"_ _3\"></span>r (10.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), US Dol<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r (6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), Ch<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>se Yuan (-1<span class=\"_ _3\"></span>.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>an Ru<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>e (-1.<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>.5. DerivativesDe<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in n<span class=\"_ _3\"></span>ote 20.6. Main<span class=\"_ _0\"></span> shareholdersBefore DilutionPublic<span class=\"_ _18b\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _7b\"> </span><span class=\"ls131 ws161\">62.48%</span></span>Van<span class=\"_ _3\"></span>dew<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>le G<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>up NV<span class=\"_ _62\"> </span><span class=\"ls131 ws161\">20,162,824<span class=\"_ _100\"> </span><span class=\"lse0 wsfd\">21<span class=\"_ _3\"></span>.70<span class=\"_ _3\"></span>%</span></span>3D N<span class=\"_ _3\"></span>V<span class=\"_ _298\"> </span><span class=\"ls36 ws40\">4,808,391<span class=\"_ _65\"> </span><span class=\"lsed ws10a\">5.17%</span></span>Norges<span class=\"_ _0\"></span> Bank<span class=\"_ _1ff\"> </span><span class=\"lsde wsfb\">4,10<span class=\"_ _3\"></span>2,0<span class=\"_ _3\"></span>42<span class=\"_ _65\"> </span><span class=\"ls103 ws120\">4.<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>%</span></span>Al<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ra EQ<span class=\"_ _3\"></span>MC A<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et  3,<span class=\"_ _3\"></span>328<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>66<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">3.58%</span>Management SGIIC,<span class=\"_ _0\"></span> S.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.Ba<span class=\"_ _3\"></span>rco NV<span class=\"_ _292\"> </span><span class=\"lsfe ws11b\">2,457,<span class=\"_ _0\"></span>922<span class=\"_ _6a\"> </span><span class=\"ls106 ws123\">2<span class=\"_ _3\"></span>.65%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _1b1\"> </span><span class=\"lse0 wsfd\">92<span class=\"_ _3\"></span>,916<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>45<span class=\"_ _73\"> </span><span class=\"lse6 ws103\">100%</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-4": {
   "value": "16. Equity attributable to equity holders of the parentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>Share<span class=\"_ _0\"></span> capital<span class=\"_ _1b8\"> </span>56,752<span class=\"_ _e2\"> </span><span class=\"ls3c ws48\">5<span class=\"_ _3\"></span>6,296<span class=\"_ _14d\"> </span><span class=\"ls36 ws40\">55,87<span class=\"_ _0\"></span>9</span></span>Share<span class=\"_ _0\"></span> premium<span class=\"_ _1bd\"> </span>1<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>9<span class=\"_ _262\"> </span><span class=\"lsf4 ws111\">161<span class=\"_ _3\"></span>,09<span class=\"_ _3\"></span>1<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3</span></span>Share-based payments<span class=\"_ _23e\"> </span>20,21<span class=\"_ _3\"></span>5<span class=\"_ _1d5\"> </span><span class=\"lsfb ws118\">18,667<span class=\"_ _5b\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>0</span></span>Acquir<span class=\"_ _0\"></span>ed own shar<span class=\"_ _0\"></span>es<span class=\"_ _23a\"> </span>-25<span class=\"_ _3\"></span>,443<span class=\"_ _26f\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>,435<span class=\"_ _c9\"> </span><span class=\"lsdd wsfa\">-26<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>2</span></span>Retained e<span class=\"_ _0\"></span>arnings<span class=\"_ _ed\"> </span>55<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>777<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1f1\"> </span><span class=\"lsdc wsf9\">5<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093</span></span>Cumulativ<span class=\"_ _0\"></span>e translation<span class=\"_ _0\"></span> adjustment<span class=\"_ _19a\"> </span>-28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>350<span class=\"_ _c9\"> </span><span class=\"ls12f ws159\">-37<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>906<span class=\"_ _267\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93</span></span>Derivatives<span class=\"_ _27c\"> </span>319<span class=\"_ _289\"> </span><span class=\"ls102 ws11f\">-71<span class=\"_ _1\"></span>3<span class=\"_ _20f\"> </span><span class=\"ls19a ws26f\">-<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>111</span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y ho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">7<span class=\"_ _3\"></span>59,1<span class=\"_ _3\"></span>89<span class=\"_ _a7\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span></span>65<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>30<span class=\"_ _3\"></span>9</span>2. Share-based paymentsOn 8 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, 2 new o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Boa<span class=\"_ _3\"></span>rd of Di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, throu<span class=\"_ _3\"></span>gh w<span class=\"_ _3\"></span>hich m<span class=\"_ _3\"></span>axi<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m 575,0<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s could b<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. Each s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght to th<span class=\"_ _3\"></span>e acqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne (1<span class=\"_ _3\"></span>) sha<span class=\"_ _3\"></span>re. In 2022<span class=\"_ _3\"></span>, 322,<span class=\"_ _3\"></span>833 s<span class=\"_ _3\"></span>tock op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d to and acc<span class=\"_ _0\"></span>epted<span class=\"_ _0\"></span> by employ<span class=\"_ _0\"></span>ees and management of<span class=\"_ _0\"></span> the group<span class=\"_ _0\"></span> bas<span class=\"_ _3\"></span>ed up<span class=\"_ _3\"></span>on t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. On 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, n<span class=\"_ _3\"></span>o opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s rema<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e 2022 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on sch<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Stock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ansTh<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s on 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unted to 2,4<span class=\"_ _3\"></span>01<span class=\"_ _3\"></span>,900. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny<span class=\"_ _3\"></span>\u2019s own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be us<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>ll th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022, 574,7<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>0 stock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n exercise<span class=\"_ _3\"></span>d (in 202<span class=\"_ _3\"></span>1, 7<span class=\"_ _3\"></span>27<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons). Th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons m<span class=\"_ _3\"></span>ay be exe<span class=\"_ _3\"></span>rcise<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>arl<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>t 3 yea<span class=\"_ _3\"></span>rs af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n date (i.e<span class=\"_ _3\"></span>. the ve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d) over a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of ma<span class=\"_ _3\"></span>xim<span class=\"_ _3\"></span>um 10 year<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a coup<span class=\"_ _3\"></span>le of f<span class=\"_ _3\"></span>ixed p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds over th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. Be<span class=\"_ _3\"></span>low is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g stock option plans<span class=\"_ _0\"></span>:Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice <span class=\"_ _26\"></span> Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Acce<span class=\"_ _3\"></span>pted <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>ed <span class=\"_ _26\"></span> Ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Expired <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Allocatio<span class=\"_ _3\"></span>n date<span class=\"_ _1ef\"> </span><span class=\"lsa7 ws14d\">End te<span class=\"_ _3\"></span>rm</span>(in euro<span class=\"_ _0\"></span>)31 De<span class=\"_ _3\"></span>c 2021in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>231 De<span class=\"_ _3\"></span>c 2022Stock<span class=\"_ _0\"></span> options10/31<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>2<span class=\"_ _289\"> </span>10/<span class=\"_ _3\"></span>30/<span class=\"_ _3\"></span>22<span class=\"_ _297\"> </span>7.<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _d7\"> </span>4,<span class=\"_ _3\"></span>200<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span><span class=\"ls102 ws11f\">-70<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _d1\"> </span></span>0</span>10/2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>3<span class=\"_ _289\"> </span>10/20/2<span class=\"_ _3\"></span>3<span class=\"_ _188\"> </span>8<span class=\"_ _3\"></span>.43<span class=\"_ _be\"> </span>1<span class=\"_ _3\"></span>1,0<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-1,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _101\"> </span><span class=\"lse3 ws100\">9,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/2<span class=\"_ _0\"></span>4<span class=\"_ _298\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _1b0\"> </span>18<span class=\"_ _3\"></span>,891<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">-2<span class=\"_ _3\"></span>,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _22a\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>91</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/22<span class=\"_ _297\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _bc\"> </span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _78\"> </span><span class=\"lsed ws10a\">-12,600<span class=\"_ _1af\"> </span></span>-<span class=\"_ _67\"> </span><span class=\"ls106 ws123\">-12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span></span>0</span>110/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>1410/22/22<span class=\"_ _1d4\"> </span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>16,45<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>300<span class=\"_ _38\"> </span></span>0</span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span>10/21/25<span class=\"_ _281\"> </span>8.16<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"ls84 ws9f\">-<span class=\"_ _3\"></span>4,550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _a5\"> </span><span class=\"lsfb ws118\">8,65<span class=\"_ _3\"></span>0</span></span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span><span class=\"lsee ws10b\">10/21/23<span class=\"_ _1b1\"> </span><span class=\"ls139 ws168\">8.16<span class=\"_ _d2\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _da\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls84 ws9f\">-4,<span class=\"_ _3\"></span>550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1d0\"> </span>-<span class=\"_ _b0\"> </span></span></span></span>32,55<span class=\"_ _3\"></span>0</span>110/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>510/21/23<span class=\"_ _297\"> </span>8.<span class=\"_ _3\"></span>26<span class=\"_ _e1\"> </span>20,6<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls89 wsa4\">-5,<span class=\"_ _3\"></span>250<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"lsfe ws11b\">15,4<span class=\"_ _3\"></span>00</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/26<span class=\"_ _1be\"> </span>10.<span class=\"_ _3\"></span>40<span class=\"_ _81\"> </span>14<span class=\"_ _0\"></span>3,960<span class=\"_ _1d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-18,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _78\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>25<span class=\"_ _3\"></span>,160</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/24<span class=\"_ _1be\"> </span>10<span class=\"_ _3\"></span>.40<span class=\"_ _be\"> </span>42<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,650<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">35,<span class=\"_ _3\"></span>560</span></span>110<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>610/23/2<span class=\"_ _0\"></span>4<span class=\"_ _18b\"> </span>10<span class=\"_ _3\"></span>.61<span class=\"_ _be\"> </span>22,601<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-2,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _b0\"> </span><span class=\"ls138 ws167\">20,<span class=\"_ _3\"></span>501</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/27<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _78\"> </span>214<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>75<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"lse3 ws100\">-<span class=\"_ _3\"></span>29,6<span class=\"_ _3\"></span>50<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _1af\"> </span></span></span>-<span class=\"_ _67\"> </span><span class=\"ls89 wsa4\">181,425</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/25<span class=\"_ _18b\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _7e\"> </span>65,800<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls191 ws255\">-6,000<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _de\"> </span><span class=\"lse7 ws104\">59,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>110/20/1<span class=\"_ _3\"></span>710/16/2<span class=\"_ _3\"></span>5<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.67<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"ls106 ws123\">-110<span class=\"_ _3\"></span>,05<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _d2\"> </span></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>0<span class=\"_ _4\"> </span>0</span>10/23/<span class=\"_ _3\"></span>18<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/28<span class=\"_ _1c7\"> </span>14.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _25c\"> </span>410<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">-360,<span class=\"_ _3\"></span>350<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls42 ws6f\">50,550</span></span>10/11<span class=\"_ _3\"></span>/19<span class=\"_ _d5\"> </span>10/10/<span class=\"_ _3\"></span>29<span class=\"_ _185\"> </span>24.<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _ad\"> </span>323,<span class=\"_ _3\"></span>330<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _16b\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _ad\"> </span><span class=\"lse7 ws104\">269,43<span class=\"_ _3\"></span>0</span></span>10/29/20<span class=\"_ _26d\"> </span>10/28/<span class=\"_ _3\"></span>30<span class=\"_ _185\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.76<span class=\"_ _11\"> </span>40<span class=\"_ _0\"></span>3,000<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _7e\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,1<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>81,85<span class=\"_ _3\"></span>0</span></span>1<span class=\"_ _3\"></span>2/0<span class=\"_ _3\"></span>6/2<span class=\"_ _3\"></span>1<span class=\"_ _a6\"> </span>12<span class=\"_ _3\"></span>/06/<span class=\"_ _3\"></span>31<span class=\"_ _18b\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>0<span class=\"_ _73\"> </span>882,40<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _bb\"> </span><span class=\"lsde wsfb\">-28,7<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">853<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>0</span></span>12/08<span class=\"_ _0\"></span>/22<span class=\"_ _26d\"> </span>1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7/<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>2<span class=\"_ _1ca\"> </span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>.<span class=\"_ _3\"></span>74<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>89,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">28<span class=\"_ _3\"></span>9,94<span class=\"_ _3\"></span>6</span></span>112/08<span class=\"_ _0\"></span>/221<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>/<span class=\"_ _3\"></span>07/<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _299\"> </span>22.<span class=\"_ _3\"></span>32<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887</span></span> T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of st<span class=\"_ _3\"></span>ock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s2,78<span class=\"_ _0\"></span>3,141322,<span class=\"_ _3\"></span>833<span class=\"_ _76\"> </span>-5<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>0<span class=\"_ _6a\"> </span>-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _ad\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _255\"> </span></span>2,4<span class=\"_ _3\"></span>01,9<span class=\"_ _3\"></span>00(1) De<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on o<span class=\"_ _3\"></span>f exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice a<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he U<span class=\"_ _3\"></span>S su<span class=\"_ _3\"></span>b pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sto<span class=\"_ _3\"></span>ck opti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns is reco<span class=\"_ _3\"></span>gnized ove<span class=\"_ _3\"></span>r the ves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d on a s<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht lin<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in ot<span class=\"_ _3\"></span>her o<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>d at gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te, base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>are pr<span class=\"_ _3\"></span>ice at gr<span class=\"_ _3\"></span>ant date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d vola<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mates a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d with 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro to 20.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 (2021: 4.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 2.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). In 2021, 3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is refle<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (see n<span class=\"_ _3\"></span>ote 3 (d) an<span class=\"_ _3\"></span>d 1.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of sh<span class=\"_ _3\"></span>are o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of t<span class=\"_ _3\"></span>he for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny (se<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>'<span class=\"_ _3\"></span>).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-5": {
   "value": "16. Equity attributable to equity holders of the parentIn thousands of euro 2022 2021 2020Share capital 56,752 56,296 55,879Share premium 176,919 161,091 147,003Share-based payments 20,215 18,667 14,100Acquired own shares -25,443 -31,435 -26,962Retained earnings 558,777 527,783 535,093Cumulative translation adjustment -28,350 -37,906 -64,693Derivatives 319 -713 -1,111Equity attributable to equity holders of the parent 759,189 693,783 659,3094. Cumulative translation adjustmentIn 2022, the exchange differences on translation of foreign operations have a net positive impact of 12 million euro, mainly relating to foreign balances held in Hong Kong Dollar (10.4 million euro), US Dollar (6 million euro), Chinese Yuan (-1.4 million euro) and Indian Rupee (-1.1 million euro).20. Risk management - derivative financial instrumentsGeneral risk factors are described in the director\u2019s report \u201cRisk Factors\u201d. Derivative financial instruments are used to reduce the expo-sure to fluctuations in foreign exchange rates and interest rates. These instruments are subject to the risk of market rates changing subsequent to acquisition. These changes are generally offset by opposite effects on the item being hedged.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-6": {
   "value": "16. Equity attributable to equity holders of the parentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>Share<span class=\"_ _0\"></span> capital<span class=\"_ _1b8\"> </span>56,752<span class=\"_ _e2\"> </span><span class=\"ls3c ws48\">5<span class=\"_ _3\"></span>6,296<span class=\"_ _14d\"> </span><span class=\"ls36 ws40\">55,87<span class=\"_ _0\"></span>9</span></span>Share<span class=\"_ _0\"></span> premium<span class=\"_ _1bd\"> </span>1<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>9<span class=\"_ _262\"> </span><span class=\"lsf4 ws111\">161<span class=\"_ _3\"></span>,09<span class=\"_ _3\"></span>1<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3</span></span>Share-based payments<span class=\"_ _23e\"> </span>20,21<span class=\"_ _3\"></span>5<span class=\"_ _1d5\"> </span><span class=\"lsfb ws118\">18,667<span class=\"_ _5b\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>0</span></span>Acquir<span class=\"_ _0\"></span>ed own shar<span class=\"_ _0\"></span>es<span class=\"_ _23a\"> </span>-25<span class=\"_ _3\"></span>,443<span class=\"_ _26f\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>,435<span class=\"_ _c9\"> </span><span class=\"lsdd wsfa\">-26<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>2</span></span>Retained e<span class=\"_ _0\"></span>arnings<span class=\"_ _ed\"> </span>55<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>777<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1f1\"> </span><span class=\"lsdc wsf9\">5<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093</span></span>Cumulativ<span class=\"_ _0\"></span>e translation<span class=\"_ _0\"></span> adjustment<span class=\"_ _19a\"> </span>-28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>350<span class=\"_ _c9\"> </span><span class=\"ls12f ws159\">-37<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>906<span class=\"_ _267\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93</span></span>Derivatives<span class=\"_ _27c\"> </span>319<span class=\"_ _289\"> </span><span class=\"ls102 ws11f\">-71<span class=\"_ _1\"></span>3<span class=\"_ _20f\"> </span><span class=\"ls19a ws26f\">-<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>111</span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y ho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">7<span class=\"_ _3\"></span>59,1<span class=\"_ _3\"></span>89<span class=\"_ _a7\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span></span>65<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>30<span class=\"_ _3\"></span>9</span>5. DerivativesDe<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in n<span class=\"_ _3\"></span>ote 20.20. Risk management - derivative financial instrumentsGe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>scri<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>r\u2019s rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t \u201c<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k F<span class=\"_ _0\"></span>actors<span class=\"_ _0\"></span>\u201d<span class=\"_ _0\"></span>. De<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are use<span class=\"_ _3\"></span>d to redu<span class=\"_ _3\"></span>ce th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sure to fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s in fore<span class=\"_ _3\"></span>ign e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d inte<span class=\"_ _3\"></span>rest rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are sub<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ct to th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f mar<span class=\"_ _3\"></span>ket rates ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt to acqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s are ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et by op<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>ite ef<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e item be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed.Foreign currency riskRecogniz<span class=\"_ _0\"></span>ed assets and liabilitiesBarco in<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>s forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>k on reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re den<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ated in a cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s loc<span class=\"_ _3\"></span>al cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy. Such r<span class=\"_ _3\"></span>isk<span class=\"_ _3\"></span>s may b<span class=\"_ _3\"></span>e nat<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>lly cov<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tem at th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et sid<span class=\"_ _3\"></span>e (su<span class=\"_ _3\"></span>ch as a tra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>r cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>) in a g<span class=\"_ _3\"></span>iven cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy i<span class=\"_ _3\"></span>s matche<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y ite<span class=\"_ _3\"></span>m at th<span class=\"_ _3\"></span>e liab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sid<span class=\"_ _3\"></span>e (such a<span class=\"_ _3\"></span>s a tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>le or lo<span class=\"_ _3\"></span>an) in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Forward<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contracts a<span class=\"_ _0\"></span>nd selectivel<span class=\"_ _0\"></span>y option c<span class=\"_ _0\"></span>ontracts are use<span class=\"_ _3\"></span>d to man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e curren<span class=\"_ _3\"></span>cy r<span class=\"_ _3\"></span>isk a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom reco<span class=\"_ _3\"></span>gnized rec<span class=\"_ _0\"></span>eivables and pay<span class=\"_ _0\"></span>ab<span class=\"_ _3\"></span>les, whic<span class=\"_ _0\"></span>h are no<span class=\"_ _0\"></span>t naturally<span class=\"_ _0\"></span> hedge<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces o<span class=\"_ _3\"></span>n foreig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y items are v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ed at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>reva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re used to re<span class=\"_ _3\"></span>duce the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re rated in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span> at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue. B<span class=\"_ _3\"></span>oth ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>nd in fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>come s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Forecasted<span class=\"_ _0\"></span> transactionsBarc<span class=\"_ _0\"></span>o selectively<span class=\"_ _0\"></span> designates<span class=\"_ _0\"></span> forward con<span class=\"_ _0\"></span>tract<span class=\"_ _3\"></span>s t<span class=\"_ _0\"></span>o for<span class=\"_ _0\"></span>ecasted sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. He<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g is a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to the<span class=\"_ _3\"></span>se con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in or lo<span class=\"_ _3\"></span>ss o<span class=\"_ _3\"></span>n the h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent t<span class=\"_ _3\"></span>hat w<span class=\"_ _3\"></span>ill be d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d as an e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive h<span class=\"_ _3\"></span>edg<span class=\"_ _3\"></span>e is reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e. At 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no f<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>ward c<span class=\"_ _0\"></span>ontracts outstanding<span class=\"_ _0\"></span> under hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _0\"></span> treatment<span class=\"_ _3\"></span>.Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to cu<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y fluc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>sSe<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _1\"></span>y to curren<span class=\"_ _3\"></span>cy f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns is m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of a p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s (mai<span class=\"_ _3\"></span>nly U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d CNY<span class=\"_ _3\"></span>) ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro. T<span class=\"_ _3\"></span>his se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing fact<span class=\"_ _0\"></span>ors:\u2022 <span class=\"_ _119\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>one<span class=\"_ _3\"></span>tar<span class=\"_ _1\"></span>y items is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ate mos<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>ese e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s in fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Barco use<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tems an<span class=\"_ _3\"></span>d/or der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>s des<span class=\"_ _3\"></span>crib<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>bove<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch are me<span class=\"_ _3\"></span>ant to of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f such re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>s to a ma<span class=\"_ _3\"></span>jor e<span class=\"_ _3\"></span>xte<span class=\"_ _3\"></span>nt.\u2022 <span class=\"_ _141\"> </span>A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y has n<span class=\"_ _3\"></span>o cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce that a<span class=\"_ _3\"></span>im at he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reca<span class=\"_ _3\"></span>sted t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s, a si<span class=\"_ _3\"></span>mil<span class=\"_ _3\"></span>ar f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n in forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renci<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>uld n<span class=\"_ _3\"></span>ot have a<span class=\"_ _3\"></span>ny ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y positi<span class=\"_ _3\"></span>on of Barco.\u2022 <span class=\"_ _24\"> </span>Profit m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ins m<span class=\"_ _3\"></span>ay be n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>se an imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s are rea<span class=\"_ _3\"></span>lized in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s, whi<span class=\"_ _3\"></span>le cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re incu<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>n a sm<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>r pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco has d<span class=\"_ _3\"></span>one g<span class=\"_ _3\"></span>reat ef<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>rs to inc<span class=\"_ _3\"></span>rease it<span class=\"_ _3\"></span>s na<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>al h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g rat<span class=\"_ _3\"></span>io in US<span class=\"_ _3\"></span>D (be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g its m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy in te<span class=\"_ _3\"></span>rms of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es) by in<span class=\"_ _3\"></span>creasin<span class=\"_ _3\"></span>g it<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d by p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g mo<span class=\"_ _3\"></span>re comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>his curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y. Impac<span class=\"_ _3\"></span>t on a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted EB<span class=\"_ _3\"></span>IT is cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>tly es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated at 20.0 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e wei<span class=\"_ _3\"></span>ghted a<span class=\"_ _3\"></span>vera<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate of a for<span class=\"_ _0\"></span>eign curr<span class=\"_ _0\"></span>ency basket,<span class=\"_ _0\"></span> that has an<span class=\"_ _0\"></span> overall<span class=\"_ _0\"></span> overweight of<span class=\"_ _0\"></span> USD &amp; CNY, chang<span class=\"_ _3\"></span>es by 10% ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro in a yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he overa<span class=\"_ _3\"></span>ll n<span class=\"_ _3\"></span>atur<span class=\"_ _3\"></span>al he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e rat<span class=\"_ _3\"></span>io of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cies rea<span class=\"_ _3\"></span>che<span class=\"_ _3\"></span>d a leve<span class=\"_ _3\"></span>l of 71<span class=\"_ _3\"></span>% in 2022 (202<span class=\"_ _3\"></span>1: 73%<span class=\"_ _3\"></span>).\u2022<span class=\"ff4 ls29 wsb\"> <span class=\"_ _2a\"> </span>An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>s the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t tha<span class=\"_ _3\"></span>t som<span class=\"_ _3\"></span>e of Ba<span class=\"_ _3\"></span>rco\u2019s compe<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span></span><span class=\"ff4\">-</span>tors a<span class=\"_ _3\"></span>re USD<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Whe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ver th<span class=\"_ _3\"></span>e USD de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e euro, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>etito<span class=\"_ _3\"></span>rs have a wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pet<span class=\"_ _3\"></span>itive a<span class=\"_ _3\"></span>dv<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e over Ba<span class=\"_ _3\"></span>rco. Thi<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng resul<span class=\"_ _0\"></span>t cannot be mea<span class=\"_ _0\"></span>sured r<span class=\"_ _0\"></span>eliably<span class=\"_ _0\"></span>.\u2022 <span class=\"_ _141\"> </span>T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p enter<span class=\"_ _3\"></span>s into de<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>vati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h various c<span class=\"_ _0\"></span>ounterparties, principally<span class=\"_ _0\"></span> financial institut<span class=\"_ _0\"></span>ions with inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de cred<span class=\"_ _3\"></span>it rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>s va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> with marke<span class=\"_ _0\"></span>t observable inputs are<span class=\"_ _0\"></span> mainly in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span> rate (<span class=\"_ _0\"></span>cap/floor<span class=\"_ _0\"></span>) swaps and f<span class=\"_ _0\"></span>oreign ex<span class=\"_ _0\"></span>change forward<span class=\"_ _0\"></span> contracts. The mo<span class=\"_ _0\"></span>st frequen<span class=\"_ _0\"></span>tly applied<span class=\"_ _0\"></span> valuation<span class=\"_ _0\"></span> techn<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd pr<span class=\"_ _3\"></span>icin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d sw<span class=\"_ _3\"></span>ap m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, usin<span class=\"_ _3\"></span>g presen<span class=\"_ _0\"></span>t value cal<span class=\"_ _0\"></span>culations.<span class=\"_ _0\"></span> The models incorporat<span class=\"_ _0\"></span>e variou<span class=\"_ _0\"></span>s inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>pot a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ward r<span class=\"_ _3\"></span>ates and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>te c<span class=\"_ _0\"></span>ur<span class=\"_ _3\"></span>ves. Fai<span class=\"_ _0\"></span>r value hierarchyA<span class=\"_ _3\"></span>s at 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p he<span class=\"_ _3\"></span>ld th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span> ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>d at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>As<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure<span class=\"_ _3\"></span>d at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1c6\"> </span>2,187<span class=\"_ _94\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>,055 <span class=\"_ _8c\"> </span><span class=\"lsfe ws11b\">5<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>45</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Investments<span class=\"_ _2b4\"> </span>37<span class=\"_ _2\"></span>,337<span class=\"_ _4e\"> </span> 46,680<span class=\"_ _0\"></span> <span class=\"_ _4e\"> </span><span class=\"lsde wsfb\"> 8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,651 </span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b5\"> </span>350<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-</span>Liabilities<span class=\"_ _0\"></span> measured at fa<span class=\"_ _0\"></span>ir valueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1a2\"> </span>2,<span class=\"_ _3\"></span>373<span class=\"_ _11\"> </span><span class=\"lse7 ws104\">859<span class=\"_ _70\"> </span><span class=\"ls131 ws161\">5,<span class=\"_ _3\"></span>529</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b6\"> </span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">6<span class=\"_ _3\"></span>82<span class=\"_ _10\"> </span><span class=\"lsfb ws118\">1,0<span class=\"_ _3\"></span>80</span></span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup us<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g hi<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>rchy for dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d discl<span class=\"_ _3\"></span>osin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s by v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tec<span class=\"_ _0\"></span>hnique:Leve<span class=\"_ _3\"></span>l 1: <span class=\"ff4\">qu<span class=\"_ _3\"></span>oted (una<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d) pr<span class=\"_ _3\"></span>ices in a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s for i<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span></span>tic<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s;Leve<span class=\"_ _3\"></span>l 2: othe<span class=\"_ _3\"></span>r techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch all i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>uts w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch have a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e are obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le, either d<span class=\"_ _0\"></span>irectly<span class=\"_ _0\"></span> or indirectl<span class=\"_ _0\"></span>y;Le<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>l 3:<span class=\"_ _3\"></span><span class=\"ff4 ls4 wse\"> techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>at use i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s havi<span class=\"_ _3\"></span>ng a s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>can<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fect </span>on th<span class=\"_ _3\"></span>e record<span class=\"_ _3\"></span>ed f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e tha<span class=\"_ _3\"></span>t are not b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on o<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble market<span class=\"_ _0\"></span> data.All f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ues m<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ta<span class=\"_ _3\"></span>ble re<span class=\"_ _3\"></span>late to Level 2, except fo<span class=\"_ _3\"></span>r the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on le<span class=\"_ _3\"></span>vel 1 inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith pu<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>roll<span class=\"_ _3\"></span>ing interes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are in t<span class=\"_ _3\"></span>he IFR<span class=\"_ _3\"></span>S fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue hi<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>archy leve<span class=\"_ _3\"></span>l 3, i.<span class=\"_ _3\"></span>e. on<span class=\"_ _3\"></span>e or more s<span class=\"_ _0\"></span>ignificant inputs are<span class=\"_ _0\"></span> not based on<span class=\"_ _0\"></span> obser<span class=\"_ _3\"></span>vable mark<span class=\"_ _0\"></span>et dat<span class=\"_ _3\"></span>a (see n<span class=\"_ _3\"></span>ote 15).Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, the<span class=\"_ _3\"></span>re were n<span class=\"_ _3\"></span>o tra<span class=\"_ _3\"></span>nsfe<span class=\"_ _3\"></span>rs b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en Leve<span class=\"_ _3\"></span>l 1 and Le<span class=\"_ _3\"></span>vel 2 f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e measur<span class=\"_ _0\"></span>ements<span class=\"_ _3\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-7": {
   "value": "16. Equity attributable to equity holders of the parentIn thousands of euro 2022 2021 2020Share capital 56,752 56,296 55,879Share premium 176,919 161,091 147,003Share-based payments 20,215 18,667 14,100Acquired own shares -25,443 -31,435 -26,962Retained earnings 558,777 527,783 535,093Cumulative translation adjustment -28,350 -37,906 -64,693Derivatives 319 -713 -1,111Equity attributable to equity holders of the parent 759,189 693,783 659,3091. Share capital, share premium and own sharesThe shareholders had in 2022 the option to elect for a dividend in cash or a dividend in shares. The option to reinvest the gross dividend over 2021 has resulted in a share premium increase of 14,173 (000) euro and an increase of the statutory capital of 456 (000) euro.As a result, the company\u2019s share capital amounts to 56.7 million euro on 31 December 2022, consisting of 92,916,645 fully paid shares.In the Extraordinary General Meeting of 25 April 2019, Barco\u2019s shareholders authorized a share buyback. A first share buyback program for a period of 6 months, starting on 20 September, 2021 was announced on 16 September, 2021.Barco acquired 600,000 own shares for a total amount of 11,186 (000) euro in 2021. Further, Barco sold in total 574,760 own shares in 2022 upon the exercise of 574,760 stock options with a resulting decrease of the own shares of 5,992 (\u2018000) euro and an increase in the share premium account of 1,655(\u2018000) euro. The number of own shares acquired by Barco NV up to 31 December 2022 therefore decreased to 2,457,922 own shares (2021: 3,032,682; 2020: 3,160,032 own shares). The total value of the share-based payments amount to 20.2 million euro at the end of 2022.As a result of the share dividend and exercised stock-options the company\u2019s share premium account per 31 December 2022 amounts to 177 million euro.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-266-8": {
   "value": "16. Equity attributable to equity holders of the parentIn thousands of euro 2022 2021 2020Share capital 56,752 56,296 55,879Share premium 176,919 161,091 147,003Share-based payments 20,215 18,667 14,100Acquired own shares -25,443 -31,435 -26,962Retained earnings 558,777 527,783 535,093Cumulative translation adjustment -28,350 -37,906 -64,693Derivatives 319 -713 -1,111Equity attributable to equity holders of the parent 759,189 693,783 659,3091. Share capital, share premium and own sharesThe shareholders had in 2022 the option to elect for a dividend in cash or a dividend in shares. The option to reinvest the gross dividend over 2021 has resulted in a share premium increase of 14,173 (000) euro and an increase of the statutory capital of 456 (000) euro.As a result, the company\u2019s share capital amounts to 56.7 million euro on 31 December 2022, consisting of 92,916,645 fully paid shares.In the Extraordinary General Meeting of 25 April 2019, Barco\u2019s shareholders authorized a share buyback. A first share buyback program for a period of 6 months, starting on 20 September, 2021 was announced on 16 September, 2021.Barco acquired 600,000 own shares for a total amount of 11,186 (000) euro in 2021. Further, Barco sold in total 574,760 own shares in 2022 upon the exercise of 574,760 stock options with a resulting decrease of the own shares of 5,992 (\u2018000) euro and an increase in the share premium account of 1,655(\u2018000) euro. The number of own shares acquired by Barco NV up to 31 December 2022 therefore decreased to 2,457,922 own shares (2021: 3,032,682; 2020: 3,160,032 own shares). The total value of the share-based payments amount to 20.2 million euro at the end of 2022.As a result of the share dividend and exercised stock-options the company\u2019s share premium account per 31 December 2022 amounts to 177 million euro.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-281-5": {
   "value": "17. Non-controlling interestThe below table represents the proportion of equity interest held by non-controlling interests:Name Country of incorporation and operation 2022 2021 2020Cinionic Ltd. Hong Kong 20% 45% 45%Gnosco AB Sweden 30% - -Overview of the equity attributable to non-controlling interest:In thousands of euro 2022 2021 2020Cinionic Ltd. 20,345  41,031   37,798 Gnosco AB -554 - -Total equity attributable to non-controlling interest 19,792  41,031  37,798Upon the start of Cinionic, three minority shareholders have contributed in the capital of Cinionic Ltd. totaling 45% of total contributions of USD 100 million. These capital contributions all gave right to 45% in the Cinionic legal entities\u2019 equity and result. In 2022 Barco agreed to buy the stakes held by the minority shareholders Appotronics and CITICPE in Cinionic, increasing Barco\u2019s ownership interest in the joint venture to 80%. The 20% stake is shown as non-controlling interest.The financials of Cinionic are fully consolidated in the Entertainment results in 2020 - 2022.In order to advance its growth initiative Demetra, Barco signed a joint venture agreement with the Swedish company Gnosco stAB on July 1, 2022. Barco acquired 70% of the shares in Gnosco AB. As the effective control is transferred on 1 July 2022, the Gnosco figures are taken up in the figures of the Barco Group from 1 July, 2022 onwards.Below is the consolidated balance sheet of the Cinionic legal entities as at 31 December 2022, 2021 and 2020. Assets and Liabilities Cinionic JVIn thousands of euro 2022 2021 2020Total non-current assets 11,081  6,788   4,901 Total current assets 134,248  114,807   107,537 Total assets 145,329  121,595   112,438 Equity attributable to equityholders of the parent 81,381  50,149   46,197 Equity attributable to non-controlling interest 20,345  41,031   37,798 Total equity 101,726  91,181   83,995 Total non-current liabilities 29,645  28,512   24,420 Total current liabilities 40,024  26,724   24,186 Total liabilities 171,395  146,416   132,601 We refer to note 1.1 for more details on the Cinionic legal entities: Cinionic Limited, Cinionic bv, Barco CineAppo Mexico, S.A. de C.V., Cinionic Inc. and Cinionic Pty. Ltd.Below is the consolidated balance sheet of the Gnosco legal entities as at 31 December 2022. Assets and Liabilities Gnosco JVIn thousands of euro 2022Total non-current assets 7,4 46Total current assets 1,218Total assets 8,664Equity attributable to equityholders of the parent 2,791Equity attributable to non-controlling interest -554Total equity 2,237Total non-current liabilities 3,246Total current liabilities 1,632Total liabilities 7,115We refer to note 1.1 for more details on the Gnosco legal entities: Gnosco AB, Barco Solutions BV, Gnosco Dermicus Ltd.Overview of the net income attributable to non-controlling interest:% non-In thousands of eurocontrolling 2022 2021 2020Cinionic Ltd. 374  -208  618 Cinionic bv 6,628 2,559  -741Cinionic Inc. 1,072  -754  -389Barco Cine Appo Mexico, S.A. de C.V. -2,343 238  -233Cinionic Pty. Ltd. 146  116  -Barco Solutions BV -688 - -Gnosco AB -976 - -Gnosco Dermicus Ltd. 2 - -Net income  4,215 1,951 -745Cinionic Ltd. 20% 75 45%  -93 45%  278 Cinionic bv 20% 1,326 45% 1,151 45%  -334Cinionic Inc. 20% 214 45%  -339 45%  -175Barco Cine Appo Mexico, S.A. de C.V. 20% -469 45% 107 45%  -105Cinionic Pty. Ltd. 20% 29 45% 52 0% -Barco Solutions BV 30% -206 - -Gnosco AB 30% -293 - -Gnosco Dermicus Ltd. 30% 1 - -Net income attributable to non-controlling interest 677 878 -335Other comprehensive income/(loss) for the period, net of tax effect, part attributable to non-controlling interest amounts to 2.5 million euro in 2022, 2.4 million euro in 2021 and -2.5 million euro in 2020.Total comprehensive income for the year, net of tax, part attrib-utable to non-controlling interest amounts to 3.2 million euro in 2022, 3.2 million euro in 2021 and -2.8 million euro in 2020.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-297-4": {
   "value": "18. Trade payables and advances received from customersIn thousands of euro 2022 2021 2020Trade payables  (a)121,920 113,979 70,299Days payable outstanding (DPO) 68 80 53Advances received from customers 51,183 54,105 42,375(a) The increase in trade payables in 2022 and 2021 is the result of higher raw material purchases (increase in volume, component prices and transport charges). In 2022 higher thpurchases are caused by higher sales in the 4 quarter (+29% year-over-year). In 2021, the higher purchases are caused thby higher sales in the 4 quarter (+ 29% year-over-year) and accelerated purchases in view of component and transport scarcity and resulted in higher days payable outstanding. Payment terms with suppliers were not extended and there has been no change in payment behavior towards suppliers.  In 2020 purchases were braked in view of lower demand to avoid build-up of inventories.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-323-6": {
   "value": "20. Risk management - derivative financial instrumentsGe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>scri<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>r\u2019s rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t \u201c<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k F<span class=\"_ _0\"></span>actors<span class=\"_ _0\"></span>\u201d<span class=\"_ _0\"></span>. De<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are use<span class=\"_ _3\"></span>d to redu<span class=\"_ _3\"></span>ce th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sure to fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s in fore<span class=\"_ _3\"></span>ign e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d inte<span class=\"_ _3\"></span>rest rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are sub<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ct to th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f mar<span class=\"_ _3\"></span>ket rates ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt to acqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s are ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et by op<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>ite ef<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e item be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed.Foreign currency riskRecogniz<span class=\"_ _0\"></span>ed assets and liabilitiesBarco in<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>s forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>k on reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re den<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ated in a cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s loc<span class=\"_ _3\"></span>al cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy. Such r<span class=\"_ _3\"></span>isk<span class=\"_ _3\"></span>s may b<span class=\"_ _3\"></span>e nat<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>lly cov<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tem at th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et sid<span class=\"_ _3\"></span>e (su<span class=\"_ _3\"></span>ch as a tra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>r cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>) in a g<span class=\"_ _3\"></span>iven cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy i<span class=\"_ _3\"></span>s matche<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y ite<span class=\"_ _3\"></span>m at th<span class=\"_ _3\"></span>e liab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sid<span class=\"_ _3\"></span>e (such a<span class=\"_ _3\"></span>s a tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>le or lo<span class=\"_ _3\"></span>an) in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Forward<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contracts a<span class=\"_ _0\"></span>nd selectivel<span class=\"_ _0\"></span>y option c<span class=\"_ _0\"></span>ontracts are use<span class=\"_ _3\"></span>d to man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e curren<span class=\"_ _3\"></span>cy r<span class=\"_ _3\"></span>isk a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom reco<span class=\"_ _3\"></span>gnized rec<span class=\"_ _0\"></span>eivables and pay<span class=\"_ _0\"></span>ab<span class=\"_ _3\"></span>les, whic<span class=\"_ _0\"></span>h are no<span class=\"_ _0\"></span>t naturally<span class=\"_ _0\"></span> hedge<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces o<span class=\"_ _3\"></span>n foreig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y items are v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ed at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>reva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re used to re<span class=\"_ _3\"></span>duce the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re rated in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span> at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue. B<span class=\"_ _3\"></span>oth ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>nd in fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>come s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Forecasted<span class=\"_ _0\"></span> transactionsBarc<span class=\"_ _0\"></span>o selectively<span class=\"_ _0\"></span> designates<span class=\"_ _0\"></span> forward con<span class=\"_ _0\"></span>tract<span class=\"_ _3\"></span>s t<span class=\"_ _0\"></span>o for<span class=\"_ _0\"></span>ecasted sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. He<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g is a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to the<span class=\"_ _3\"></span>se con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in or lo<span class=\"_ _3\"></span>ss o<span class=\"_ _3\"></span>n the h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent t<span class=\"_ _3\"></span>hat w<span class=\"_ _3\"></span>ill be d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d as an e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive h<span class=\"_ _3\"></span>edg<span class=\"_ _3\"></span>e is reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e. At 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no f<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>ward c<span class=\"_ _0\"></span>ontracts outstanding<span class=\"_ _0\"></span> under hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _0\"></span> treatment<span class=\"_ _3\"></span>.Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to cu<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y fluc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>sSe<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _1\"></span>y to curren<span class=\"_ _3\"></span>cy f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns is m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of a p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s (mai<span class=\"_ _3\"></span>nly U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d CNY<span class=\"_ _3\"></span>) ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro. T<span class=\"_ _3\"></span>his se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing fact<span class=\"_ _0\"></span>ors:\u2022 <span class=\"_ _119\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>one<span class=\"_ _3\"></span>tar<span class=\"_ _1\"></span>y items is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ate mos<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>ese e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s in fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Barco use<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tems an<span class=\"_ _3\"></span>d/or der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>s des<span class=\"_ _3\"></span>crib<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>bove<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch are me<span class=\"_ _3\"></span>ant to of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f such re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>s to a ma<span class=\"_ _3\"></span>jor e<span class=\"_ _3\"></span>xte<span class=\"_ _3\"></span>nt.\u2022 <span class=\"_ _141\"> </span>A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y has n<span class=\"_ _3\"></span>o cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce that a<span class=\"_ _3\"></span>im at he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reca<span class=\"_ _3\"></span>sted t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s, a si<span class=\"_ _3\"></span>mil<span class=\"_ _3\"></span>ar f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n in forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renci<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>uld n<span class=\"_ _3\"></span>ot have a<span class=\"_ _3\"></span>ny ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y positi<span class=\"_ _3\"></span>on of Barco.\u2022 <span class=\"_ _24\"> </span>Profit m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ins m<span class=\"_ _3\"></span>ay be n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>se an imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s are rea<span class=\"_ _3\"></span>lized in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s, whi<span class=\"_ _3\"></span>le cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re incu<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>n a sm<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>r pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco has d<span class=\"_ _3\"></span>one g<span class=\"_ _3\"></span>reat ef<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>rs to inc<span class=\"_ _3\"></span>rease it<span class=\"_ _3\"></span>s na<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>al h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g rat<span class=\"_ _3\"></span>io in US<span class=\"_ _3\"></span>D (be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g its m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy in te<span class=\"_ _3\"></span>rms of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es) by in<span class=\"_ _3\"></span>creasin<span class=\"_ _3\"></span>g it<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d by p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g mo<span class=\"_ _3\"></span>re comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>his curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y. Impac<span class=\"_ _3\"></span>t on a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted EB<span class=\"_ _3\"></span>IT is cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>tly es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated at 20.0 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e wei<span class=\"_ _3\"></span>ghted a<span class=\"_ _3\"></span>vera<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate of a for<span class=\"_ _0\"></span>eign curr<span class=\"_ _0\"></span>ency basket,<span class=\"_ _0\"></span> that has an<span class=\"_ _0\"></span> overall<span class=\"_ _0\"></span> overweight of<span class=\"_ _0\"></span> USD &amp; CNY, chang<span class=\"_ _3\"></span>es by 10% ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro in a yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he overa<span class=\"_ _3\"></span>ll n<span class=\"_ _3\"></span>atur<span class=\"_ _3\"></span>al he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e rat<span class=\"_ _3\"></span>io of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cies rea<span class=\"_ _3\"></span>che<span class=\"_ _3\"></span>d a leve<span class=\"_ _3\"></span>l of 71<span class=\"_ _3\"></span>% in 2022 (202<span class=\"_ _3\"></span>1: 73%<span class=\"_ _3\"></span>).\u2022<span class=\"ff4 ls29 wsb\"> <span class=\"_ _2a\"> </span>An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>s the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t tha<span class=\"_ _3\"></span>t som<span class=\"_ _3\"></span>e of Ba<span class=\"_ _3\"></span>rco\u2019s compe<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span></span><span class=\"ff4\">-</span>tors a<span class=\"_ _3\"></span>re USD<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Whe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ver th<span class=\"_ _3\"></span>e USD de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e euro, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>etito<span class=\"_ _3\"></span>rs have a wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pet<span class=\"_ _3\"></span>itive a<span class=\"_ _3\"></span>dv<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e over Ba<span class=\"_ _3\"></span>rco. Thi<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng resul<span class=\"_ _0\"></span>t cannot be mea<span class=\"_ _0\"></span>sured r<span class=\"_ _0\"></span>eliably<span class=\"_ _0\"></span>.Interest rate riskBarco use<span class=\"_ _3\"></span>s foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate ris<span class=\"_ _3\"></span>k:Swap o<span class=\"_ _3\"></span>n out<span class=\"_ _3\"></span>sta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng or a<span class=\"_ _3\"></span>ntic<span class=\"_ _3\"></span>ipate<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowin<span class=\"_ _3\"></span>gBarco con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed a s<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>es of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>s with a<span class=\"_ _3\"></span>n out<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g not<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nal a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro by mea<span class=\"_ _3\"></span>ns of a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ial h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r the b<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l real e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ate leasi<span class=\"_ _3\"></span>ng (cur<span class=\"_ _3\"></span>rentl<span class=\"_ _3\"></span>y out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng at 16.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) for the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>ng of B<span class=\"_ _3\"></span>arco's HQ ca<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>us st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n 2016. T<span class=\"_ _3\"></span>his in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>ps the v<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te into a fixe<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.76%. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sw<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve hed<span class=\"_ _3\"></span>ge of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g or a<span class=\"_ _3\"></span>ntici<span class=\"_ _3\"></span>pated b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d me<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e he<span class=\"_ _3\"></span>dgi<span class=\"_ _3\"></span>ng re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 39. Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e hed<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>re th<span class=\"_ _3\"></span>erefore rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed dir<span class=\"_ _0\"></span>ectly in<span class=\"_ _0\"></span> comprehen<span class=\"_ _0\"></span>sive inc<span class=\"_ _0\"></span>ome under hedge<span class=\"_ _0\"></span> acc<span class=\"_ _0\"></span>ounting treatment. Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuati<span class=\"_ _3\"></span>onsCha<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s in in<span class=\"_ _3\"></span>teres<span class=\"_ _3\"></span>t rate are clo<span class=\"_ _3\"></span>sel<span class=\"_ _3\"></span>y follow<span class=\"_ _3\"></span>ed up by<span class=\"_ _0\"></span> management.With refe<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>ce to the fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low, just o<span class=\"_ _3\"></span>ver 60% of Barco\u2019s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o has a f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d inter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate cha<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>ter, <span class=\"_ _0\"></span>w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch lim<span class=\"_ _3\"></span>its t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpo<span class=\"_ _3\"></span>sure of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany to interes<span class=\"_ _3\"></span>t rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>is rat<span class=\"_ _3\"></span>io in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s to 83% wh<span class=\"_ _3\"></span>en inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d ab<span class=\"_ _3\"></span>ove.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-323-7": {
   "value": "20. Risk management - derivative financial instrumentsGeneral risk factors are described in the director\u2019s report \u201cRisk Factors\u201d. Derivative financial instruments are used to reduce the expo-sure to fluctuations in foreign exchange rates and interest rates. These instruments are subject to the risk of market rates changing subsequent to acquisition. These changes are generally offset by opposite effects on the item being hedged.Fair values Set out on the right is an overview of the carrying amounts of the Group\u2019s financial instruments that are shown in the finan-cial statements. In general, the carrying amounts are assumed to be a close approximation of the fair value.2022 2021 2020In thousands of euro Carrying amount / Fair value (approx.)Financial assetsInvestments at fair value through equity 37,337  46,680   86,651 Trade receivables 194,643  156,977   146,138 Other receivables 14,509  16,211   17,789    Loan and other receivables 11,971  15,152   12,420    Interest receivable 1  4   24    Currency rate swap 2,187  1,055   5,345    Interest rate swap 350  - -Other non-current assets 5,819  6,849   5,870 Short term investments 1,651  2,763   3,175 Cash and cash equivalents 305,915  351,571   235,402 Total 559,874 581,051   495,026 Financial liabilitiesFinancial debts 16,000  18,000   20,000    Floating rate borrowings 8,288  9,563   10,838    Fixed rate borrowings 7,71 3  8,438   9,163 Other long-term liabilities 44,524  48,860   43,286 Short-term debts -   -     86 Trade payables 121,920  113,979   70,299 Other current liabilities 5,412  5,036   8,980    Other short term amounts payable 750  1,206   80    Dividends payable 2,289  2,289   2,290    Currency rate swap 2,373  859   5,529    Interest rate swap -  682   1,080 Total 187,856  185,875   142,650 The fair value of the financial assets and liabilities is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:\u2022  Cash and cash equivalents and short-term investments, trade receivables, trade payables, and other current liabili-ties approximate their carrying amounts largely due to the short-term maturities of these instruments.\u2022  Investments are measured at market price. For investments that are publicly quoted in an active market, the quoted market price is the best measure of the fair value. The remeasurement at fair value per 31 December 2022 versus the carrying amount is reflected in other comprehensive income.\u2022  Long term fixed rate and variable rate other assets are eval-uated by the Group based on parameters such as interest rates, specific country risk factors, individual creditwor-thiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are made to account for the expected losses of these receiv-ables. As at 31 December 2022, the carrying amounts of such receivables, net of allowances, are assumed not to be materially different from their calculated fair values.\u2022  The fair value of unquoted instruments, loans from banks and other financial liabilities, obligations under finance leases as well as other non-current financial liabilities is esti-mated by discounting future cash flows using the effective interest rates currently available for debt on similar terms, credit risk and remaining maturities. As of 31 December 2022, the effective interest rate is not materially different from the nominal interest rate of the financial obligation.\u2022  The Group enters into derivative financial instruments with various counterparties, principally financial institutions with investment grade credit ratings. Derivatives valued using valuation techniques with market observable inputs are mainly interest rate (cap/floor) swaps and foreign exchange forward contracts. The most frequently applied valuation techniques include forward pricing and swap models, using present value calculations. The models incorporate various inputs including foreign exchange spot and forward rates and interest rate curves. Fair value hierarchyAs at 31 December 2022, the Group held the following financial instruments measured at fair value:In thousands of euro 2022 2021 2020Assets measured at fair valueFinancial assets at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,187  1,055  5,345Financial assets at fair value through equity   Investments 37,337  46,680   86,651    Interest rate swap 350 - -Liabilities measured at fair valueFinancial liabilities at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,373 859 5,529Financial liabilities at fair value through equity   Interest rate swap - 682 1,080The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: quoted (unadjusted) prices in active markets for iden-tical assets or liabilities;Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly;Level 3: techniques that use inputs having a significant effect on the recorded fair value that are not based on observable market data.All fair values mentioned in the above table relate to Level 2, except for the investments which were based on level 1 input. The liabilities associated with puttable non-controlling interests are in the IFRS fair value hierarchy level 3, i.e. one or more significant inputs are not based on observable market data (see note 15).During the reporting period ending 31 December 2022, there were no transfers between Level 1 and Level 2 fair value measurements.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-334-4": {
   "value": "Fair values Set out on the right is an overview of the carrying amounts of the Group\u2019s financial instruments that are shown in the finan-cial statements. In general, the carrying amounts are assumed to be a close approximation of the fair value.2022 2021 2020In thousands of euro Carrying amount / Fair value (approx.)Financial assetsInvestments at fair value through equity 37,337  46,680   86,651 Trade receivables 194,643  156,977   146,138 Other receivables 14,509  16,211   17,789    Loan and other receivables 11,971  15,152   12,420    Interest receivable 1  4   24    Currency rate swap 2,187  1,055   5,345    Interest rate swap 350  - -Other non-current assets 5,819  6,849   5,870 Short term investments 1,651  2,763   3,175 Cash and cash equivalents 305,915  351,571   235,402 Total 559,874 581,051   495,026 Financial liabilitiesFinancial debts 16,000  18,000   20,000    Floating rate borrowings 8,288  9,563   10,838    Fixed rate borrowings 7,71 3  8,438   9,163 Other long-term liabilities 44,524  48,860   43,286 Short-term debts -   -     86 Trade payables 121,920  113,979   70,299 Other current liabilities 5,412  5,036   8,980    Other short term amounts payable 750  1,206   80    Dividends payable 2,289  2,289   2,290    Currency rate swap 2,373  859   5,529    Interest rate swap -  682   1,080 Total 187,856  185,875   142,650 The fair value of the financial assets and liabilities is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:\u2022  Cash and cash equivalents and short-term investments, trade receivables, trade payables, and other current liabili-ties approximate their carrying amounts largely due to the short-term maturities of these instruments.\u2022  Investments are measured at market price. For investments that are publicly quoted in an active market, the quoted market price is the best measure of the fair value. The remeasurement at fair value per 31 December 2022 versus the carrying amount is reflected in other comprehensive income.\u2022  Long term fixed rate and variable rate other assets are eval-uated by the Group based on parameters such as interest rates, specific country risk factors, individual creditwor-thiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are made to account for the expected losses of these receiv-ables. As at 31 December 2022, the carrying amounts of such receivables, net of allowances, are assumed not to be materially different from their calculated fair values.\u2022  The fair value of unquoted instruments, loans from banks and other financial liabilities, obligations under finance leases as well as other non-current financial liabilities is esti-mated by discounting future cash flows using the effective interest rates currently available for debt on similar terms, credit risk and remaining maturities. As of 31 December 2022, the effective interest rate is not materially different from the nominal interest rate of the financial obligation.\u2022  The Group enters into derivative financial instruments with various counterparties, principally financial institutions with investment grade credit ratings. Derivatives valued using valuation techniques with market observable inputs are mainly interest rate (cap/floor) swaps and foreign exchange forward contracts. The most frequently applied valuation techniques include forward pricing and swap models, using present value calculations. The models incorporate various inputs including foreign exchange spot and forward rates and interest rate curves. Fair value hierarchyAs at 31 December 2022, the Group held the following financial instruments measured at fair value:In thousands of euro 2022 2021 2020Assets measured at fair valueFinancial assets at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,187  1,055  5,345Financial assets at fair value through equity   Investments 37,337  46,680   86,651    Interest rate swap 350 - -Liabilities measured at fair valueFinancial liabilities at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,373 859 5,529Financial liabilities at fair value through equity   Interest rate swap - 682 1,080The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: quoted (unadjusted) prices in active markets for iden-tical assets or liabilities;Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly;Level 3: techniques that use inputs having a significant effect on the recorded fair value that are not based on observable market data.All fair values mentioned in the above table relate to Level 2, except for the investments which were based on level 1 input. The liabilities associated with puttable non-controlling interests are in the IFRS fair value hierarchy level 3, i.e. one or more significant inputs are not based on observable market data (see note 15).During the reporting period ending 31 December 2022, there were no transfers between Level 1 and Level 2 fair value measurements.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-334-5": {
   "value": "Fair values Set out on the right is an overview of the carrying amounts of the Group\u2019s financial instruments that are shown in the finan-cial statements. In general, the carrying amounts are assumed to be a close approximation of the fair value.2022 2021 2020In thousands of euro Carrying amount / Fair value (approx.)Financial assetsInvestments at fair value through equity 37,337  46,680   86,651 Trade receivables 194,643  156,977   146,138 Other receivables 14,509  16,211   17,789    Loan and other receivables 11,971  15,152   12,420    Interest receivable 1  4   24    Currency rate swap 2,187  1,055   5,345    Interest rate swap 350  - -Other non-current assets 5,819  6,849   5,870 Short term investments 1,651  2,763   3,175 Cash and cash equivalents 305,915  351,571   235,402 Total 559,874 581,051   495,026 Financial liabilitiesFinancial debts 16,000  18,000   20,000    Floating rate borrowings 8,288  9,563   10,838    Fixed rate borrowings 7,71 3  8,438   9,163 Other long-term liabilities 44,524  48,860   43,286 Short-term debts -   -     86 Trade payables 121,920  113,979   70,299 Other current liabilities 5,412  5,036   8,980    Other short term amounts payable 750  1,206   80    Dividends payable 2,289  2,289   2,290    Currency rate swap 2,373  859   5,529    Interest rate swap -  682   1,080 Total 187,856  185,875   142,650 The fair value of the financial assets and liabilities is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value hierarchyAs at 31 December 2022, the Group held the following financial instruments measured at fair value:In thousands of euro 2022 2021 2020Assets measured at fair valueFinancial assets at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,187  1,055  5,345Financial assets at fair value through equity   Investments 37,337  46,680   86,651    Interest rate swap 350 - -Liabilities measured at fair valueFinancial liabilities at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,373 859 5,529Financial liabilities at fair value through equity   Interest rate swap - 682 1,080",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-334-6": {
   "value": "Fair values Set out on the right is an overview of the carrying amounts of the Group\u2019s financial instruments that are shown in the finan-cial statements. In general, the carrying amounts are assumed to be a close approximation of the fair value.2022 2021 2020In thousands of euro Carrying amount / Fair value (approx.)Financial assetsInvestments at fair value through equity 37,337  46,680   86,651 Trade receivables 194,643  156,977   146,138 Other receivables 14,509  16,211   17,789    Loan and other receivables 11,971  15,152   12,420    Interest receivable 1  4   24    Currency rate swap 2,187  1,055   5,345    Interest rate swap 350  - -Other non-current assets 5,819  6,849   5,870 Short term investments 1,651  2,763   3,175 Cash and cash equivalents 305,915  351,571   235,402 Total 559,874 581,051   495,026 Financial liabilitiesFinancial debts 16,000  18,000   20,000    Floating rate borrowings 8,288  9,563   10,838    Fixed rate borrowings 7,71 3  8,438   9,163 Other long-term liabilities 44,524  48,860   43,286 Short-term debts -   -     86 Trade payables 121,920  113,979   70,299 Other current liabilities 5,412  5,036   8,980    Other short term amounts payable 750  1,206   80    Dividends payable 2,289  2,289   2,290    Currency rate swap 2,373  859   5,529    Interest rate swap -  682   1,080 Total 187,856  185,875   142,650 The fair value of the financial assets and liabilities is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value hierarchyAs at 31 December 2022, the Group held the following financial instruments measured at fair value:In thousands of euro 2022 2021 2020Assets measured at fair valueFinancial assets at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,187  1,055  5,345Financial assets at fair value through equity   Investments 37,337  46,680   86,651    Interest rate swap 350 - -Liabilities measured at fair valueFinancial liabilities at fair value through profit or loss   Foreign exchange contracts - non-hedged 2,373 859 5,529Financial liabilities at fair value through equity   Interest rate swap - 682 1,080",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-337-5": {
   "value": "The following methods and assumptions were used to estimate the fair values:\u2022  Cash and cash equivalents and short-term investments, trade receivables, trade payables, and other current liabili-ties approximate their carrying amounts largely due to the short-term maturities of these instruments.\u2022  Investments are measured at market price. For investments that are publicly quoted in an active market, the quoted market price is the best measure of the fair value. The remeasurement at fair value per 31 December 2022 versus the carrying amount is reflected in other comprehensive income.\u2022  Long term fixed rate and variable rate other assets are eval-uated by the Group based on parameters such as interest rates, specific country risk factors, individual creditwor-thiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are made to account for the expected losses of these receiv-ables. As at 31 December 2022, the carrying amounts of such receivables, net of allowances, are assumed not to be materially different from their calculated fair values.\u2022  The fair value of unquoted instruments, loans from banks and other financial liabilities, obligations under finance leases as well as other non-current financial liabilities is esti-mated by discounting future cash flows using the effective interest rates currently available for debt on similar terms, credit risk and remaining maturities. As of 31 December 2022, the effective interest rate is not materially different from the nominal interest rate of the financial obligation.\u2022  The Group enters into derivative financial instruments with various counterparties, principally financial institutions with investment grade credit ratings. Derivatives valued using valuation techniques with market observable inputs are mainly interest rate (cap/floor) swaps and foreign exchange forward contracts. The most frequently applied valuation techniques include forward pricing and swap models, using present value calculations. The models incorporate various inputs including foreign exchange spot and forward rates and interest rate curves. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: quoted (unadjusted) prices in active markets for iden-tical assets or liabilities;Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly;Level 3: techniques that use inputs having a significant effect on the recorded fair value that are not based on observable market data.All fair values mentioned in the above table relate to Level 2, except for the investments which were based on level 1 input. The liabilities associated with puttable non-controlling interests are in the IFRS fair value hierarchy level 3, i.e. one or more significant inputs are not based on observable market data (see note 15).During the reporting period ending 31 December 2022, there were no transfers between Level 1 and Level 2 fair value measurements.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-343-2": {
   "value": "Capital ManagementManagement evaluates its capital needs based on following data:In thousands of euro Note 2022 2021 2020Net financial cash / (debt) 14 264,014 309,750 193,527Equity 778,981 734,814 697,107% Net financial cash (debt) / Equity 33.9% 42.2% 27.8%In thousands of euro 2022 2021 2020Equity 778,981 734,814 697,107Total equity and liabilities 1,147,405 1,104,249 1,018,203% Equity / Total equity and liabilities 67.9% 66.5% 68.5%In 2022, the net cash position ended at a level of 264 million euro compared to 309.8 million euro as per end of 2021. We refer to note 14 for the details on the movement.The solvency position and other current ratios continue to con-solidate at healthy levels. Together with the existing committed credit facilities, management considers that it has secured a healthy liquidity profile and strong capital base for the further development of the group.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-351-5": {
   "value": "21. Rights and commitments not reflected in the balance sheetIn thousands of euro Note 2022 2021 2020Guarantees given to third parties (a) 3,594 3,474   3,850    Mortgage obligations given as security (b) 30,000 30,000   30,000       Book value of the relevant assets 29,539 33,029   36,527    (a) Guarantees given to third parties mainly relate to guarantees given to customers for ongoing projects, guarantees given to suppliers for investment projects and to authorities for commitments related to VAT, duties, etc. (b) The total mortgage includes three loans of 10 million euro each to fund the headquarter campus. The decrease in net book value since 2020 is due to depreciation.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-351-6": {
   "value": "21. Rights and commitments not reflected in the balance sheetIn thousands of euro Note 2022 2021 2020Guarantees given to third parties (a) 3,594 3,474   3,850    Mortgage obligations given as security (b) 30,000 30,000   30,000       Book value of the relevant assets 29,539 33,029   36,527    (a) Guarantees given to third parties mainly relate to guarantees given to customers for ongoing projects, guarantees given to suppliers for investment projects and to authorities for commitments related to VAT, duties, etc. (b) The total mortgage includes three loans of 10 million euro each to fund the headquarter campus. The decrease in net book value since 2020 is due to depreciation.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCollateralExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-354-2": {
   "value": "22. Related party transactions Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>eir b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s con<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t Ba<span class=\"_ _3\"></span>rco af<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>liate<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l al<span class=\"_ _3\"></span>so en<span class=\"_ _3\"></span>ter into rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is includes<span class=\"_ _0\"></span> both service transactions<span class=\"_ _0\"></span> and financing arrangements. Rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n on an a<span class=\"_ _3\"></span>t arm\u2019s le<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>th bas<span class=\"_ _3\"></span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n Barco\u2019s wor<span class=\"_ _3\"></span>ldw<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>nsfe<span class=\"_ _3\"></span>r pri<span class=\"_ _3\"></span>cin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ate, th<span class=\"_ _3\"></span>e arm\u2019s le<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>th nat<span class=\"_ _3\"></span>ure of tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns is tes<span class=\"_ _3\"></span>ted ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>chma<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>earche<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e result<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>reof a<span class=\"_ _3\"></span>re sha<span class=\"_ _3\"></span>red wi<span class=\"_ _3\"></span>th ta<span class=\"_ _3\"></span>x aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de in l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e with local transf<span class=\"_ _0\"></span>er pricing r<span class=\"_ _0\"></span>equirements and<span class=\"_ _0\"></span> regulations. Barco com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>s n<span class=\"_ _3\"></span>ot to use ta<span class=\"_ _3\"></span>x st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>res wi<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>ut eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic subs<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nce o<span class=\"_ _3\"></span>r make u<span class=\"_ _3\"></span>se of ju<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ole p<span class=\"_ _3\"></span>urp<span class=\"_ _3\"></span>ose o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x avoid<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce. Barco NV, as the u<span class=\"_ _3\"></span>ltim<span class=\"_ _3\"></span>ate pare<span class=\"_ _3\"></span>nt ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e Barco gro<span class=\"_ _3\"></span>up, sub<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>fer pr<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>ng Cou<span class=\"_ _3\"></span>ntr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>by<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Cou<span class=\"_ _3\"></span>ntr<span class=\"_ _1\"></span>y (CbC) re<span class=\"_ _3\"></span>por<span class=\"_ _3\"></span>t i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um, t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>reby dis<span class=\"_ _3\"></span>closin<span class=\"_ _3\"></span>g ta<span class=\"_ _3\"></span>xes p<span class=\"_ _3\"></span>aid wo<span class=\"_ _3\"></span>rld<span class=\"_ _3\"></span><span class=\"ws4\">-</span>wid<span class=\"_ _3\"></span>e on a j<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>sdi<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>al leve<span class=\"_ _3\"></span>l to the B<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>gia<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x auth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>n an an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>. Fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>ple<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e CbC repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g in B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ian l<span class=\"_ _3\"></span>egi<span class=\"_ _3\"></span>slat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, sub<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted Cb<span class=\"_ _3\"></span>C rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s worldwide.T<span class=\"_ _2\"></span>ransactions between the Compan<span class=\"_ _0\"></span>y and its subsidi<span class=\"_ _0\"></span>aries, which are rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d are acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>gly n<span class=\"_ _3\"></span>ot dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>his n<span class=\"_ _3\"></span>ote. No<span class=\"_ _3\"></span>ne of the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ies h<span class=\"_ _3\"></span>ave en<span class=\"_ _3\"></span>tered into a<span class=\"_ _3\"></span>ny oth<span class=\"_ _3\"></span>er tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ons wit<span class=\"_ _3\"></span>h the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p that m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 24, \u2018Re<span class=\"_ _3\"></span>lated par<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y disclo<span class=\"_ _3\"></span>sures\u2019. W<span class=\"_ _0\"></span>e refe<span class=\"_ _3\"></span>r to note 1 'Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted comp<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ies' for an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>iew of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ccounted companies.At th<span class=\"_ _3\"></span>e ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers m<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g of 29 Ap<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>l 2021<span class=\"_ _3\"></span>, PWC Bedrijfsr<span class=\"_ _0\"></span>evisoren b<span class=\"_ _0\"></span>v,<span class=\"_ _0\"></span> Culliganlaan 5,<span class=\"_ _0\"></span> 1830 Diegem, wa<span class=\"_ _0\"></span>s ap<span class=\"_ _3\"></span>poi<span class=\"_ _3\"></span>nted as s<span class=\"_ _3\"></span>tat<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>itor of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any fo<span class=\"_ _3\"></span>r a pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of thre<span class=\"_ _3\"></span>e year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n 2022, re<span class=\"_ _3\"></span>mun<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by the A<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>it Committ<span class=\"_ _0\"></span>ee to<span class=\"_ _0\"></span> the statut<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y audit<span class=\"_ _0\"></span>or f<span class=\"_ _0\"></span>or auditing<span class=\"_ _0\"></span> activities<span class=\"_ _0\"></span> am<span class=\"_ _3\"></span>ounte<span class=\"_ _3\"></span>d to 320,982 euro. Rem<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pai<span class=\"_ _3\"></span>d to the s<span class=\"_ _3\"></span>tat<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>y au<span class=\"_ _3\"></span>ditor fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts w<span class=\"_ _3\"></span>as 81<span class=\"_ _3\"></span>,432 euro.We refer to the \u2018<span class=\"fc2 ls16 ws53\">Corporate<span class=\"_ _0\"></span> G<span class=\"_ _3\"></span>overnanc<span class=\"_ _0\"></span>e Chapt<span class=\"_ _0\"></span>er<span class=\"fc0 lsd ws3a\">\u2019 fo<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span></span></span>tion wit<span class=\"_ _0\"></span>h respect t<span class=\"_ _0\"></span>o remuneration<span class=\"_ _0\"></span> of dir<span class=\"_ _0\"></span>ectors and members of th<span class=\"_ _3\"></span>e core lea<span class=\"_ _3\"></span>der<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>. Barc<span class=\"_ _0\"></span>o NV pa<span class=\"_ _3\"></span>rent com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny<span class=\"_ _0\"></span>, B<span class=\"_ _3\"></span>arco NV<span class=\"_ _0\"></span>, ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-357-3": {
   "value": "We refer to the \u2018Corporate Governance Chapter\u2019 for informa-tion with respect to remuneration of directors and members of the core leadership team.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-356-3": {
   "value": "At the annual shareholders meeting of 29 April 2021, PWC Bedrijfsrevisoren bv, Culliganlaan 5, 1830 Diegem, was appointed as statutory auditor of the company for a period of three years. In 2022, remuneration approved by the Audit Committee to the statutory auditor for auditing activities amounted to 320,982 euro. Remuneration paid to the statutory auditor for special assignments was 81,432 euro.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-363-1": {
   "value": "Suppl<span class=\"_ _0\"></span>ementar<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> stat<span class=\"_ _2\"></span>ementsFree Cash FlowIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22e\"> </span>9<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>143<span class=\"_ _178\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>3<span class=\"_ _178\"> </span><span class=\"lse6 ws103\">10,1<span class=\"_ _3\"></span>80</span></span>Restructuring<span class=\"_ _237\"> </span>-1,211<span class=\"_ _1a8\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,20<span class=\"_ _3\"></span>4<span class=\"_ _ff\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>6</span></span>De<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of ta<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e fix<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _198\"> </span>36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _10c\"> </span><span class=\"lse3 ws100\">39,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lse7 ws104\">43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>/(Loss) o<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts<span class=\"_ _29a\"> </span>-1,62<span class=\"_ _3\"></span>1<span class=\"_ _73\"> </span><span class=\"ls109 ws126\">196<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">170</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) o<span class=\"_ _3\"></span>f joi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ure<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>s<span class=\"_ _2a5\"> </span>3,<span class=\"_ _3\"></span>337<span class=\"_ _7e\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _8e\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>276</span></span>Gr<span class=\"_ _3\"></span>oss o<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Fre<span class=\"_ _3\"></span>e Ca<span class=\"_ _3\"></span>sh Fl<span class=\"_ _3\"></span>ow<span class=\"_ _21b\"> </span><span class=\"lsde wsfb\">12<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>979<span class=\"_ _50\"> </span></span> 50<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>49 <span class=\"_ _4e\"> </span><span class=\"lsfc ws119\"> 43<span class=\"_ _3\"></span>,921 </span>Changes in<span class=\"_ _0\"></span> trade rec<span class=\"_ _0\"></span>eivables <span class=\"_ _211\"> </span>-35<span class=\"_ _3\"></span>,615<span class=\"_ _8c\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>8<span class=\"_ _9c\"> </span><span class=\"ls103 ws120\">41,<span class=\"_ _3\"></span>39<span class=\"_ _3\"></span>1</span></span>Cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y <span class=\"_ _2a8\"> </span>-70,<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>1<span class=\"_ _70\"> </span><span class=\"lse7 ws104\">4,<span class=\"_ _3\"></span>432<span class=\"_ _3d\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _0\"></span>1<span class=\"_ _3\"></span>2,260</span></span>Cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>ya<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s <span class=\"_ _1bf\"> </span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>5<span class=\"_ _151\"> </span><span class=\"lsf0 ws10d\">42,82<span class=\"_ _3\"></span>5<span class=\"_ _4a\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>59,93<span class=\"_ _3\"></span>6</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in n<span class=\"_ _3\"></span>et wo<span class=\"_ _3\"></span>rki<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _2bc\"> </span>2,823<span class=\"_ _9c\"> </span><span class=\"ls133 ws162\">13,1<span class=\"_ _3\"></span>95<span class=\"_ _2bd\"> </span><span class=\"lsda wsf7\">-23,<span class=\"_ _0\"></span>960</span></span>Cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in n<span class=\"_ _3\"></span>et wo<span class=\"_ _3\"></span>rki<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>al<span class=\"_ _219\"> </span>-9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"lsfb ws118\">55,<span class=\"_ _3\"></span>534<span class=\"_ _52\"> </span><span class=\"ls63 wsce\">-<span class=\"_ _0\"></span>54,7<span class=\"_ _0\"></span>64</span></span>Net o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Free C<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>sh Fl<span class=\"_ _3\"></span>ow<span class=\"_ _213\"> </span><span class=\"ls131 ws161\">31,451<span class=\"_ _89\"> </span>106<span class=\"_ _3\"></span>,083<span class=\"_ _89\"> </span><span class=\"ls1ad ws27f\"> -1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3</span></span>Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eived<span class=\"_ _f0\"> </span>2,7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _ad\"> </span><span class=\"ls42 ws6f\">713<span class=\"_ _70\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>45</span></span>Inter<span class=\"_ _0\"></span>est paid<span class=\"_ _2be\"> </span>-1<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _54\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>82<span class=\"_ _3\"></span>3<span class=\"_ _8c\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>5</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _15d\"> </span>-<span class=\"_ _1\"></span>6,0<span class=\"_ _3\"></span>42<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-8,386<span class=\"_ _3d\"> </span><span class=\"ls106 ws123\">-10,39<span class=\"_ _3\"></span>8</span></span>Free C<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow fr<span class=\"_ _3\"></span>om op<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s<span class=\"_ _2bf\"> </span>26,<span class=\"_ _3\"></span>252<span class=\"_ _3a\"> </span><span class=\"ls89 wsa4\">96<span class=\"_ _3\"></span>,587<span class=\"_ _4a\"> </span><span class=\"ls110 ws12d\">-21<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>1</span></span>Pu<span class=\"_ _3\"></span>rcha<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le &amp; i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le FA<span class=\"_ _2c0\"> </span>-21,218<span class=\"_ _36\"> </span><span class=\"lsfb ws118\">-18,787<span class=\"_ _4a\"> </span><span class=\"lsdc wsf9\">-14,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>0</span></span>Pro<span class=\"_ _3\"></span>cee<span class=\"_ _3\"></span>ds o<span class=\"_ _3\"></span>n dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le &amp; i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts<span class=\"_ _26e\"> </span>8,038<span class=\"_ _25c\"> </span><span class=\"lsfb ws118\">183<span class=\"_ _6a\"> </span><span class=\"ls36 ws40\">488</span></span>Free C<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow fr<span class=\"_ _3\"></span>om in<span class=\"_ _3\"></span>ves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _2bf\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _4e\"> </span>-1<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4a\"> </span>-14<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>3</span>FREE CA<span class=\"_ _3\"></span>SH FLOW<span class=\"_ _5f\"> </span>13,0<span class=\"_ _0\"></span>72<span class=\"_ _178\"> </span><span class=\"ls199 wsd9\">7<span class=\"_ _4\"> </span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _f\"> </span><span class=\"ls139 ws168\"> -35,854</span></span>In 2022 t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rated 1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ve free<span class=\"_ _3\"></span> cas<span class=\"_ _3\"></span>h flow ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a si<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>can<span class=\"_ _3\"></span>t upt<span class=\"_ _3\"></span>ake in gros<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g fre<span class=\"_ _3\"></span>e cas<span class=\"_ _3\"></span>h flow, wh<span class=\"_ _3\"></span>ich am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nted 1<span class=\"_ _3\"></span>27<span class=\"_ _2\"></span>.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Th<span class=\"_ _3\"></span>is was of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d wor<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, du<span class=\"_ _3\"></span>e to hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>s and higher trade<span class=\"_ _0\"></span> receivables. The higher<span class=\"_ _0\"></span> trade rec<span class=\"_ _0\"></span>eivables are lin<span class=\"_ _3\"></span>ked to the p<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>k sa<span class=\"_ _3\"></span>les of th<span class=\"_ _3\"></span>e fou<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>th qu<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ter. The hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tories<span class=\"_ _0\"></span> include proactiv<span class=\"_ _0\"></span>e buying of inv<span class=\"_ _0\"></span>entories, as<span class=\"_ _0\"></span> a response to sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain ch<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ges a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.At th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, Ba<span class=\"_ _3\"></span>rco\u2019s net ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on reach<span class=\"_ _3\"></span>es 26<span class=\"_ _3\"></span>4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, 4<span class=\"_ _3\"></span>6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lower co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to las<span class=\"_ _3\"></span>t year (<span class=\"_ _3\"></span>2021: 30<span class=\"_ _3\"></span>9.8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro, 2020: 193.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro). Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s las<span class=\"_ _3\"></span>t yea<span class=\"_ _3\"></span>r is at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to th<span class=\"_ _3\"></span>e lower f<span class=\"_ _3\"></span>ree cas<span class=\"_ _3\"></span>h flow, a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of m<span class=\"_ _3\"></span>ino<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e increa<span class=\"_ _3\"></span>se of Ba<span class=\"_ _3\"></span>rco\u2019s share in Ci<span class=\"_ _3\"></span>nio<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c from 5<span class=\"_ _3\"></span>5% to 80%, d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d out (-2<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and u<span class=\"_ _3\"></span>se of ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res for s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns (8 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) We refer to note 14, note 16 and n<span class=\"_ _3\"></span>ote 11 fo<span class=\"_ _3\"></span>r more e<span class=\"_ _0\"></span>xplanation.Balance Shee<span class=\"_ _0\"></span>tNet wo<span class=\"_ _3\"></span>rki<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed to 14.3% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 5.<span class=\"_ _3\"></span>8% in 2021<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n wor<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al is m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nly c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by a<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>crease in inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s (se<span class=\"_ _3\"></span>e note 1<span class=\"_ _3\"></span>2).Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, sa<span class=\"_ _3\"></span>fet<span class=\"_ _3\"></span>y bu<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fers we<span class=\"_ _3\"></span>re sto<span class=\"_ _3\"></span>cked for a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of s<span class=\"_ _3\"></span>carce com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. H<span class=\"_ _3\"></span>igh s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>st qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter he<span class=\"_ _3\"></span>lp<span class=\"_ _3\"></span>ed to s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t re<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cing i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s, h<span class=\"_ _3\"></span>oweve<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>n-tor<span class=\"_ _3\"></span>y le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>s rema<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>han u<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l at yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>d and w<span class=\"_ _3\"></span>ill requ<span class=\"_ _3\"></span>ire mo<span class=\"_ _3\"></span>re wor<span class=\"_ _3\"></span>k in 2023 to br<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>m back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid level<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. In a<span class=\"_ _3\"></span>ddi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n to the in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y, high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>bute<span class=\"_ _3\"></span>d to the i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in wo<span class=\"_ _3\"></span>rki<span class=\"_ _3\"></span>ng ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, mai<span class=\"_ _3\"></span>nly d<span class=\"_ _3\"></span>ue to ver<span class=\"_ _1\"></span>y stro<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch cas<span class=\"_ _3\"></span>h wil<span class=\"_ _3\"></span>l be co<span class=\"_ _3\"></span>llec<span class=\"_ _3\"></span>ted in 2023<span class=\"_ _3\"></span>.In 2021 n<span class=\"_ _3\"></span>et wor<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>duce<span class=\"_ _3\"></span>d to 5.<span class=\"_ _3\"></span>8% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 10% in 2020, as a result of h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>ces recei<span class=\"_ _3\"></span>ved<span class=\"_ _3\"></span>, redu<span class=\"_ _3\"></span>ced DSO f<span class=\"_ _3\"></span>rom 67 day<span class=\"_ _3\"></span>s to 56 days a<span class=\"_ _3\"></span>nd stable inv<span class=\"_ _0\"></span>entory.Return on Operating Capital EmployedIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1bb\"> </span>No<span class=\"_ _3\"></span>te<span class=\"_ _70\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020</span>T<span class=\"_ _0\"></span>rade debt<span class=\"_ _0\"></span>ors<span class=\"_ _e4\"> </span>1<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>43<span class=\"_ _4a\"> </span><span class=\"lsdd wsfa\">15<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>7<span class=\"_ _4a\"> </span><span class=\"lsdc wsf9\">146<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>8</span></span>Inv<span class=\"_ _3\"></span>ento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _238\"> </span>24<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>14<span class=\"_ _50\"> </span><span class=\"ls10e ws12b\">17<span class=\"_ _3\"></span>5,49<span class=\"_ _3\"></span>6<span class=\"_ _4e\"> </span><span class=\"lse0 wsfd\">175<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>390</span></span>T<span class=\"_ _0\"></span>rade payables<span class=\"_ _7c\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,920<span class=\"_ _147\"> </span>-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>9<span class=\"_ _4a\"> </span><span class=\"ls102 ws11f\">-70,<span class=\"_ _1\"></span>29<span class=\"_ _3\"></span>9</span></span>Other working capital<span class=\"_ _2c1\"> </span>-16<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>014<span class=\"_ _147\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>5<span class=\"_ _b9\"> </span><span class=\"ls131 ws161\">-170,620</span></span>Working capital<span class=\"_ _2c2\"> </span>150,42<span class=\"_ _3\"></span>3<span class=\"_ _36\"> </span><span class=\"ls89 wsa4\">46<span class=\"_ _3\"></span>,799<span class=\"_ _3a\"> </span><span class=\"lsf5 ws112\">80,610</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r lo<span class=\"_ _3\"></span>ng te<span class=\"_ _3\"></span>rm a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts &amp; l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _1ea\"> </span>194,119<span class=\"_ _f\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _3\"></span>4,6<span class=\"_ _3\"></span>46<span class=\"_ _4e\"> </span><span class=\"lsdc wsf9\">2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>0,4<span class=\"_ _3\"></span>93</span></span>Operating<span class=\"_ _0\"></span> capital emplo<span class=\"_ _0\"></span>yed<span class=\"_ _234\"> </span>3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>43<span class=\"_ _147\"> </span><span class=\"ls131 ws161\">251<span class=\"_ _3\"></span>,445<span class=\"_ _52\"> </span><span class=\"lsee ws10b\">291<span class=\"_ _3\"></span>,102</span></span>Goo<span class=\"_ _3\"></span>dwill<span class=\"_ _2c3\"> </span><span class=\"lsde wsfb\">105<span class=\"_ _3\"></span>,61<span class=\"_ _3\"></span>2<span class=\"_ _4a\"> </span>105,6<span class=\"_ _3\"></span>12<span class=\"_ _4a\"> </span>105<span class=\"_ _3\"></span>,61<span class=\"_ _3\"></span>2</span>Operating capital<span class=\"_ _0\"></span> employed (<span class=\"_ _0\"></span>incl goodwill)<span class=\"_ _202\"> </span>450,1<span class=\"_ _3\"></span>55<span class=\"_ _4e\"> </span><span class=\"ls10b ws128\">357<span class=\"_ _2\"></span>,056<span class=\"_ _2bd\"> </span><span class=\"lsdc wsf9\">3<span class=\"_ _3\"></span>96<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>714</span></span>Adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _2b4\"> </span>90<span class=\"_ _3\"></span>,143<span class=\"_ _3a\"> </span><span class=\"lse3 ws100\"> 19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3 <span class=\"_ _50\"> </span><span class=\"lsde wsfb\"> 10,1<span class=\"_ _3\"></span>80 </span></span>Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d ROC<span class=\"_ _3\"></span>E af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ax (%<span class=\"_ _3\"></span>)<span class=\"_ _261\"> </span><span class=\"lse6 ws103\"> (a)<span class=\"_ _62\"> </span></span>16%<span class=\"_ _25c\"> </span><span class=\"lsde wsfb\"> 4% <span class=\"_ _6a\"> </span></span> 3% Th<span class=\"_ _3\"></span>e retur<span class=\"_ _3\"></span>n on c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>d incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d to 16<span class=\"_ _0\"></span>% in 202<span class=\"_ _3\"></span>2 (2021: 4%, 2020: 3%<span class=\"_ _3\"></span>), tha<span class=\"_ _3\"></span>nks to a s<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>nal re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span> comp<span class=\"_ _3\"></span>ared to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyed (<span class=\"_ _3\"></span>14.2<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les).(a) <span class=\"_\"> </span>Tax ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d is t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>ff<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve ta<span class=\"_ _3\"></span>x ra<span class=\"_ _3\"></span>te (i<span class=\"_ _3\"></span>n 2022 a<span class=\"_ _3\"></span>nd 2<span class=\"_ _3\"></span>021<span class=\"_ _3\"></span>: 18%; 20<span class=\"_ _3\"></span>20: 0%<span class=\"_ _3\"></span>)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f155652": {
   "value": " NV",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f155660": {
   "value": " Barco NV",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f155673": {
   "value": " parent company, Barco NV, ",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f155832": {
   "value": " Belgium ",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s8_notes__5__6": {
   "value": "DividendBarco\u2019s Board of Directors will propose to the General Assembly to distribute a gross dividend of 0.44 euro per share, a 10% increase from 0.40 euro a year ago.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s8_notes__5__5-1": {
   "value": "DividendIntroductionTh<span class=\"_ _3\"></span>is cha<span class=\"_ _3\"></span>pter of th<span class=\"_ _3\"></span>e An<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al Re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s the I<span class=\"_ _3\"></span>FRS au<span class=\"_ _3\"></span>dited conso<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>dated f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>otes th<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>on,<span class=\"_ _3\"></span> prep<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d in accord<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce with t<span class=\"_ _3\"></span>he I<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial Rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing St<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>rds as ad<span class=\"_ _3\"></span>opte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Europ<span class=\"_ _3\"></span>ean U<span class=\"_ _3\"></span>nio<span class=\"_ _3\"></span>n. Significant IF<span class=\"_ _0\"></span>RS a<span class=\"_ _3\"></span>c<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>ting principles1. Accounting principles1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. St<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>nce an<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is of p<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nTh<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n prep<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d in accord<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce with I<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span> Rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng St<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dards (<span class=\"_ _3\"></span>IFRS), as a<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>pted for us<span class=\"_ _3\"></span>e by th<span class=\"_ _3\"></span>e EU. All standards and<span class=\"_ _0\"></span> interpr<span class=\"_ _0\"></span>etations issued<span class=\"_ _0\"></span> by the Int<span class=\"_ _0\"></span>ernational<span class=\"_ _0\"></span> Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Sta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rds Bo<span class=\"_ _3\"></span>ard (I<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>SB) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Intern<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>al Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al Re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Inter<span class=\"_ _3\"></span>pret<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns Co<span class=\"_ _3\"></span>mmit<span class=\"_ _3\"></span>tee (<span class=\"_ _3\"></span>IFRI<span class=\"_ _3\"></span>C) ef<span class=\"_ _3\"></span>fec<span class=\"ls4 ws4\">-</span>tive ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d 2022 an<span class=\"_ _3\"></span>d ad<span class=\"_ _3\"></span>opte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Europe<span class=\"_ _3\"></span>an Un<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n are ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed by B<span class=\"_ _3\"></span>arco. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o pre<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>sis of g<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>g con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sa<span class=\"_ _3\"></span>nds of e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d are p<span class=\"_ _3\"></span>repa<span class=\"_ _3\"></span>red un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the h<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al cos<span class=\"_ _3\"></span>t conven<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, exce<span class=\"_ _3\"></span>pt for th<span class=\"_ _3\"></span>e me<span class=\"_ _3\"></span>asu<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of inve<span class=\"_ _3\"></span>st<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>s and d<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>tive f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. 1<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>. Princ<span class=\"_ _0\"></span>iples of c<span class=\"_ _0\"></span>onsolidationGeneralTh<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pare<span class=\"_ _3\"></span>nt com<span class=\"_ _3\"></span>pany, Barco NV (reg<span class=\"_ _3\"></span>istere<span class=\"_ _3\"></span>d of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce: 35 Presi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt Kenn<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>yp<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>, 850<span class=\"_ _3\"></span>0, Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rij<span class=\"_ _3\"></span>k, B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium), a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s contro<span class=\"_ _3\"></span>lled s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>ntures<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>lim<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of all<span class=\"_ _0\"></span> inter<span class=\"_ _0\"></span>company<span class=\"_ _0\"></span> transactions.SubsidiariesSub<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>dated f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e da<span class=\"_ _3\"></span>te the pa<span class=\"_ _3\"></span>rent obt<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s contro<span class=\"_ _3\"></span>l unti<span class=\"_ _3\"></span>l the d<span class=\"_ _3\"></span>ate contro<span class=\"_ _3\"></span>l ceases<span class=\"_ _3\"></span>. Acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of subs<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e pu<span class=\"_ _3\"></span>rchase m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g. Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s whe<span class=\"_ _3\"></span>n Ba<span class=\"_ _3\"></span>rco is exp<span class=\"_ _3\"></span>osed<span class=\"_ _3\"></span>, or h<span class=\"_ _3\"></span>as rig<span class=\"_ _3\"></span>ht<span class=\"_ _3\"></span>s, to va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>ble ret<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>s from it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>volve<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tee an<span class=\"_ _3\"></span>d has t<span class=\"_ _3\"></span>he ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to af<span class=\"_ _3\"></span>fect t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e retur<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h it<span class=\"_ _3\"></span>s powe<span class=\"_ _3\"></span>r over th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stee. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nts o<span class=\"_ _3\"></span>f subs<span class=\"_ _3\"></span>idia<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es are pre<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to the pa<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019s com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>sche<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>le, usi<span class=\"_ _3\"></span>ng co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent IFR<span class=\"_ _3\"></span>S accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Inv<span class=\"_ _0\"></span>estments in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>ed companies<span class=\"_ _0\"></span> and joint<span class=\"_ _0\"></span> ventu<span class=\"_ _0\"></span>resTh<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t in jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>ntures w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n it sh<span class=\"_ _3\"></span>ares joi<span class=\"_ _3\"></span>nt cont<span class=\"_ _3\"></span>rol wi<span class=\"_ _3\"></span>th oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>t has r<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ts to th<span class=\"_ _3\"></span>e net a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated companies<span class=\"_ _0\"></span> over which<span class=\"_ _0\"></span> the company<span class=\"_ _0\"></span> has significant in<span class=\"_ _0\"></span>fluence (ty<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lly th<span class=\"_ _3\"></span>ose t<span class=\"_ _3\"></span>hat are 20<span class=\"_ _1\"></span>-50% ow<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d) an<span class=\"_ _3\"></span>d jo<span class=\"_ _3\"></span>int ven<span class=\"_ _3\"></span>tures are accou<span class=\"_ _3\"></span>nted for u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of a<span class=\"_ _3\"></span>ccounti<span class=\"_ _3\"></span>ng an<span class=\"_ _3\"></span>d are in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>erea<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent is a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted to reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ize chang<span class=\"_ _3\"></span>es in th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup\u2019s sh<span class=\"_ _3\"></span>are of n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>oci<span class=\"_ _3\"></span>ate sin<span class=\"_ _3\"></span>ce the acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ate. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up\u2019s sh<span class=\"_ _3\"></span>are of th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ate, in \u2018othe<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>come<span class=\"_ _3\"></span>\u2019 for as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d joi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>res wi<span class=\"_ _3\"></span>th clos<span class=\"_ _3\"></span>ely re<span class=\"_ _3\"></span>lated b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e lin<span class=\"_ _3\"></span>e \u2018sh<span class=\"_ _3\"></span>are in the re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f joi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>res an<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ates\u2019 for al<span class=\"_ _3\"></span>l oth<span class=\"_ _3\"></span>er as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"ls4 ws4\">-</span>at<span class=\"_ _0\"></span>ed companies and<span class=\"_ _0\"></span> joint ven<span class=\"_ _0\"></span>tures. Inv<span class=\"_ _0\"></span>estments in associ<span class=\"_ _0\"></span>ated companies<span class=\"_ _0\"></span> and joint v<span class=\"_ _0\"></span>entures ar<span class=\"_ _0\"></span>e presen<span class=\"_ _0\"></span>ted as<span class=\"_ _0\"></span> non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curr<span class=\"_ _0\"></span>ent ass<span class=\"_ _3\"></span>et on t<span class=\"_ _3\"></span>he fa<span class=\"_ _3\"></span>ce of th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et on t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and int<span class=\"_ _0\"></span>erest in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>es\u2019<span class=\"_ _0\"></span>.2. GoodwillGo<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xcess of t<span class=\"_ _3\"></span>he cost o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on over th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f ide<span class=\"_ _3\"></span>ntif<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ble n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>nt lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s of a sub<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>r as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated com<span class=\"_ _3\"></span>pany at t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ate of acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n. Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll is ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ny accum<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ated im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent losses<span class=\"_ _3\"></span>.3. Research and development costsRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d as in<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>d, except fo<span class=\"_ _3\"></span>r deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich rel<span class=\"_ _3\"></span>ate to the d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn a<span class=\"_ _3\"></span>nd test<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>f new o<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>roved m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s or te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>og<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re cap<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>alized to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d that s<span class=\"_ _3\"></span>uch as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rate f<span class=\"_ _3\"></span>uture e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>cog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8 are m<span class=\"_ _3\"></span>et. S<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>ter life c<span class=\"_ _3\"></span>ycles<span class=\"_ _3\"></span>, unp<span class=\"_ _3\"></span>red<span class=\"_ _3\"></span>ict<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _1\"></span>y of whi<span class=\"_ _3\"></span>ch deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be su<span class=\"_ _3\"></span>c<span class=\"ls4 ws4\">-</span>cess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he vo<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s in which Bar<span class=\"_ _0\"></span>co<span class=\"_ _0\"></span> op<span class=\"_ _3\"></span>erat<span class=\"_ _0\"></span>es led the Boar<span class=\"_ _0\"></span>d of Dir<span class=\"_ _0\"></span>ectors t<span class=\"_ _0\"></span>o conc<span class=\"_ _0\"></span>lude tha<span class=\"_ _3\"></span>t Barco\u2019s deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s sin<span class=\"_ _3\"></span>ce 2015 n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r me<span class=\"_ _3\"></span>et the c<span class=\"_ _3\"></span>riter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e criter<span class=\"_ _3\"></span>ia of IA<span class=\"_ _3\"></span>S<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>.57 a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lled<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses as o<span class=\"_ _3\"></span>f 2015 was n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s were a<span class=\"_ _3\"></span>utho<span class=\"_ _3\"></span>rized fo<span class=\"_ _3\"></span>r issu<span class=\"_ _3\"></span>e by th<span class=\"_ _3\"></span>e bo<span class=\"_ _3\"></span>ard of dire<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s on 6 Fe<span class=\"_ _3\"></span>br<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e chai<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>owe<span class=\"_ _3\"></span>r to<span class=\"_ _0\"></span> amend the financial<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ements until the<span class=\"_ _0\"></span> shareholders\u2019<span class=\"_ _0\"></span> meet<span class=\"ls4 ws4\">-</span>ing o<span class=\"_ _3\"></span>f 27 Ap<span class=\"_ _3\"></span>ril 2023<span class=\"_ _3\"></span>.Non-controllin<span class=\"_ _3\"></span>g interestsNo<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>control<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt the p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>nd n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s not h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d by the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p an<span class=\"_ _3\"></span>d are pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d sep<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ately in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d wi<span class=\"_ _3\"></span>thi<span class=\"_ _3\"></span>n equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he cons<span class=\"_ _0\"></span>olidated balanc<span class=\"_ _0\"></span>e sheet, separa<span class=\"_ _0\"></span>tely fr<span class=\"_ _0\"></span>om sharehol<span class=\"_ _0\"></span>der\u2019s e<span class=\"_ _3\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>y.4. Other intangible assetsInt<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired s<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>arate<span class=\"_ _3\"></span>ly are c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>ized at cost<span class=\"_ _3\"></span>.Int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a busi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss com<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized at fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y from g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll if th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue ca<span class=\"_ _3\"></span>n be m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured re<span class=\"_ _3\"></span>lia<span class=\"_ _3\"></span>bly u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d are am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic lifet<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>n a st<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis n<span class=\"_ _3\"></span>ot excee<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 7 years.5. Property<span class=\"_ _0\"></span>, plant and equipmentProp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt are s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>d at cost le<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>ccu<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mulat<span class=\"_ _0\"></span>ed deprec<span class=\"_ _0\"></span>iation<span class=\"_ _0\"></span> and acc<span class=\"_ _0\"></span>umulated<span class=\"_ _0\"></span> impairment<span class=\"_ _0\"></span> losses. Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>lly, depreci<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n is com<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>d on a st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ight-<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne ba<span class=\"_ _3\"></span>sis over th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated u<span class=\"_ _3\"></span>sef<span class=\"_ _3\"></span>ul life of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tha<span class=\"_ _3\"></span>t the ite<span class=\"_ _3\"></span>m of prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, pla<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is imp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s are rev<span class=\"_ _3\"></span>iewe<span class=\"_ _3\"></span>d to asse<span class=\"_ _3\"></span>ss w<span class=\"_ _3\"></span>het<span class=\"_ _3\"></span>her<span class=\"_ _3\"></span> the<span class=\"_ _3\"></span>y are record<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n excess o<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>ir recove<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s, and where<span class=\"_ _0\"></span> carr<span class=\"_ _3\"></span>ying values ex<span class=\"_ _0\"></span>ceed thi<span class=\"_ _0\"></span>s estimat<span class=\"_ _0\"></span>ed reco<span class=\"_ _0\"></span>verable am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re writ<span class=\"_ _3\"></span>ten d<span class=\"_ _3\"></span>own to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r recover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt.Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated us<span class=\"_ _3\"></span>efu<span class=\"_ _3\"></span>l life is:- buildings <span class=\"_ _1ab\"> </span><span class=\"ls20 ws1b\">20<span class=\"_ _0\"></span> years</span>- installatio<span class=\"_ _3\"></span>ns <span class=\"_ _1ac\"> </span><span class=\"ls20 ws1b\">10<span class=\"_ _0\"></span> years</span>- <span class=\"_ _8\"> </span>production mac<span class=\"_ _0\"></span>hiner<span class=\"_ _3\"></span>y<span class=\"ls4 ws4\"> <span class=\"_ _1a3\"> </span></span> 5 ye<span class=\"_ _0\"></span>ars- <span class=\"_ _8\"> </span>measur<span class=\"_ _0\"></span>ement equipment<span class=\"ls4 ws4\"> <span class=\"_ _183\"> </span></span>4 y<span class=\"_ _0\"></span>ears- <span class=\"_\"> </span>t<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s <span class=\"_ _191\"> </span><span class=\"ls20 ws1b\">3 years</span>- furniture<span class=\"_ _0\"></span> <span class=\"_ _1a6\"> </span><span class=\"ls20 ws1b\">1<span class=\"_ _0\"></span>0 years</span>- <span class=\"_\"> </span>off<span class=\"_ _3\"></span>ice eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt <span class=\"_ _1ad\"> </span><span class=\"ls20 ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>comput<span class=\"_ _0\"></span>er equipment<span class=\"ls4 ws4\"> <span class=\"_ _91\"> </span></span>3 years- vehic<span class=\"_ _0\"></span>les<span class=\"ls4 ws4\"> <span class=\"_ _1ae\"> </span></span><span class=\"ws1b\">5 ye<span class=\"_ _0\"></span>ars</span>- <span class=\"_ _8\"> </span>demo mat<span class=\"_ _0\"></span>erial <span class=\"_ _109\"> </span>1 to 3 years- <span class=\"_\"> </span>leas<span class=\"_ _3\"></span>eho<span class=\"_ _3\"></span>ld im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce lease<span class=\"_ _3\"></span>s: cfr u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>et, l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted to out<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of l<span class=\"_ _3\"></span>ease co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ctA prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t or eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent item i<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span>nized up<span class=\"_ _3\"></span>on disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>en no f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s are e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d from it<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>e or di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l. A<span class=\"_ _3\"></span>ny ga<span class=\"_ _3\"></span>in or l<span class=\"_ _3\"></span>oss a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>n de<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>recog<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>nit<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset i<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r the asset<span class=\"_ _0\"></span> is der<span class=\"_ _0\"></span>ecogniz<span class=\"_ _0\"></span>ed.6. LeasesA<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght to use t<span class=\"_ _3\"></span>he un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>ed ass<span class=\"_ _3\"></span>et, a<span class=\"_ _3\"></span>re ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ized as pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at cos<span class=\"_ _3\"></span>t, comp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, any lease p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>t or b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt date les<span class=\"_ _3\"></span>s any l<span class=\"_ _3\"></span>ease i<span class=\"_ _3\"></span>ncent<span class=\"_ _3\"></span>ives re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d, a<span class=\"_ _3\"></span>ny ini<span class=\"_ _3\"></span>tial d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d resto<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the n<span class=\"_ _3\"></span>et pre<span class=\"_ _3\"></span>sen<span class=\"_ _3\"></span>t valu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, are recog<span class=\"_ _3\"></span>nized as lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term o<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>rent li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re du<span class=\"_ _3\"></span>e. Lease<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es are recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll lea<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ith a ter<span class=\"_ _3\"></span>m of mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>2 mon<span class=\"_ _3\"></span>ths<span class=\"_ _3\"></span>, unl<span class=\"_ _3\"></span>ess t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>erl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g as<span class=\"_ _3\"></span>set is of l<span class=\"_ _3\"></span>ow val<span class=\"_ _3\"></span>ue. Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re discou<span class=\"_ _3\"></span>nted us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e\u2019s in<span class=\"_ _3\"></span>cre<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>l bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ng r<span class=\"_ _3\"></span>ate, be<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ate that t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e wou<span class=\"_ _3\"></span>ld have to pay to b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row the f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ds ne<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y to obt<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n an as<span class=\"_ _3\"></span>set of s<span class=\"_ _0\"></span>imilar value i<span class=\"_ _0\"></span>n a similar<span class=\"_ _0\"></span> economic envi<span class=\"_ _0\"></span>ronment wi<span class=\"_ _0\"></span>th similar terms a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t rate im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icit in t<span class=\"_ _3\"></span>he le<span class=\"_ _3\"></span>ase coul<span class=\"_ _3\"></span>d not b<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d.Lease i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t is cha<span class=\"_ _3\"></span>rged to t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt as a<span class=\"_ _3\"></span>n inter<span class=\"ls4 ws4\">-</span>est expense.Lease<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated, us<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e dep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n over th<span class=\"_ _3\"></span>e lea<span class=\"_ _3\"></span>se ter<span class=\"_ _3\"></span>m, in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, in ca<span class=\"_ _3\"></span>se it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>ll be e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d.7<span class=\"_ _2\"></span>. Investments - financial assets at fair value through profit and loss or other comprehensive incomeInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re treated as f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e and a<span class=\"_ _3\"></span>re ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on given. Sub<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed at m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. For i<span class=\"_ _3\"></span>nvest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s quo<span class=\"_ _3\"></span>ted in an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>. For inv<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s not q<span class=\"_ _3\"></span>uote<span class=\"_ _3\"></span>d in an a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is t<span class=\"_ _3\"></span>he his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>cal cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, if a reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of the f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ot be m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e. An i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>hen t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng amount ex<span class=\"_ _0\"></span>ceeds t<span class=\"_ _0\"></span>he estimated<span class=\"_ _0\"></span> reco<span class=\"_ _0\"></span>verable amount. These<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re prese<span class=\"_ _3\"></span>nted o<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et on th<span class=\"_ _3\"></span>e li<span class=\"_ _3\"></span>ne \u2018Investments and<span class=\"_ _0\"></span> inter<span class=\"_ _0\"></span>est in associ<span class=\"_ _0\"></span>ates<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>.Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>t ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n in exces<span class=\"_ _3\"></span>s of 3 m<span class=\"_ _3\"></span>onth<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are inten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to be he<span class=\"_ _3\"></span>ld to matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y le<span class=\"_ _3\"></span>ss t<span class=\"_ _3\"></span>han o<span class=\"_ _3\"></span>ne ye<span class=\"_ _3\"></span>ar (so<span class=\"_ _3\"></span>lel<span class=\"_ _3\"></span>y paym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of pr<span class=\"_ _3\"></span>inci<span class=\"_ _3\"></span>ple an<span class=\"_ _3\"></span>d interes<span class=\"_ _3\"></span>t). T<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized at cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated reven<span class=\"_ _3\"></span>ue in i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t inco<span class=\"_ _3\"></span>me.8. Other non-current assetsOt<span class=\"_ _3\"></span>her n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>t ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m intere<span class=\"_ _3\"></span>st-<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng rec<span class=\"_ _0\"></span>eivables and cash<span class=\"_ _0\"></span> guarantees. S<span class=\"_ _0\"></span>uch long-term r<span class=\"_ _0\"></span>eceivables are accou<span class=\"_ _3\"></span>nted for a<span class=\"_ _3\"></span>s loa<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>ated by th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>nd are c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. A<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent los<span class=\"_ _3\"></span>s is record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt exce<span class=\"_ _3\"></span>eds t<span class=\"_ _3\"></span>he es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated rec<span class=\"_ _0\"></span>overable amoun<span class=\"_ _0\"></span>t.9<span class=\"_ _0\"></span>. Financial assetsTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es it<span class=\"_ _3\"></span>s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>eg<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>es: fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds on t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>\u2019s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el for m<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>agi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l terms of t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. Ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>es the c<span class=\"_ _3\"></span>las<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>t init<span class=\"_ _3\"></span>ial re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Regular pur<span class=\"_ _0\"></span>chases and<span class=\"_ _0\"></span> sales of financ<span class=\"_ _0\"></span>ial assets ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>gniz<span class=\"_ _0\"></span>ed on th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e date \u2013 th<span class=\"_ _3\"></span>e date on w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p comm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to pu<span class=\"_ _3\"></span>rchase o<span class=\"_ _3\"></span>r sel<span class=\"_ _3\"></span>l an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>.At in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l recog<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et at it<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>lus<span class=\"_ _3\"></span>, in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>et not a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it or l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at are d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h prof<span class=\"_ _3\"></span>it or loss a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anc<span class=\"_ _3\"></span>ial as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (su<span class=\"_ _3\"></span>ch as lo<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d cash e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ts) are s<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>entl<span class=\"_ _3\"></span>y mea<span class=\"_ _3\"></span>sured a<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized<span class=\"_ _3\"></span> cost us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>f the<span class=\"_ _3\"></span>y are he<span class=\"_ _3\"></span>ld for co<span class=\"_ _3\"></span>llec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>al ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>hos<span class=\"_ _3\"></span>e cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt sol<span class=\"_ _3\"></span>ely p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d intere<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>.T<span class=\"_ _2\"></span>rade and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _0\"></span> af<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span> and within one<span class=\"_ _0\"></span> year ar<span class=\"_ _0\"></span>e recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>lly at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue an<span class=\"_ _3\"></span>d su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, i<span class=\"_ _3\"></span>.e. at t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>t pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t, us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, les<span class=\"_ _3\"></span>s all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces fo<span class=\"_ _3\"></span>r imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s on a for<span class=\"ls4 ws4\">-</span>ward<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>asis t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>oss as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith it<span class=\"_ _3\"></span>s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost. Fo<span class=\"_ _3\"></span>r tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he si<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lifi<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roach p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted by I<span class=\"_ _3\"></span>FRS 9 Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich req<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>s exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifeti<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s to be reco<span class=\"_ _3\"></span>gnized f<span class=\"_ _3\"></span>rom in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of the re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.10. InventoriesInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>iz<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le va<span class=\"_ _3\"></span>lue. C<span class=\"_ _3\"></span>ost is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t in fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t out (F<span class=\"_ _3\"></span>IFO) or we<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>ted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is. N<span class=\"_ _3\"></span>et rea<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>ble v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>ti-mated s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce in th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated cost<span class=\"_ _3\"></span>s of comp<span class=\"_ _3\"></span>let<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to the cos<span class=\"_ _3\"></span>t of mater<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t lab<span class=\"_ _3\"></span>or, the rel<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>eva<span class=\"_ _3\"></span>nt prop<span class=\"_ _3\"></span>or<span class=\"_ _1\"></span>tio<span class=\"_ _3\"></span>n of pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on ove<span class=\"_ _3\"></span>rhe<span class=\"_ _3\"></span>ad is i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inven<span class=\"_ _0\"></span>tory values.Write of<span class=\"_ _3\"></span>fs o<span class=\"_ _3\"></span>n inven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d on s<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y. The c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce is bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tentl<span class=\"_ _3\"></span>y ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h his<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l and fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd, o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e lat<span class=\"_ _3\"></span>ter is s<span class=\"_ _3\"></span>ubj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y due t<span class=\"_ _0\"></span>o rapid t<span class=\"_ _0\"></span>echnological changes. 11. Revenue recognitionWe app<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-s<span class=\"_ _3\"></span>tep m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el to accou<span class=\"_ _3\"></span>nt for reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e ari<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g from co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>th cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Reven<span class=\"_ _3\"></span>ue is re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>d at an am<span class=\"_ _3\"></span>ount t<span class=\"_ _3\"></span>hat ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>nsid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n to whi<span class=\"_ _3\"></span>ch we exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to be en<span class=\"_ _3\"></span>title<span class=\"_ _3\"></span>d in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g go<span class=\"_ _3\"></span>ods o<span class=\"_ _3\"></span>r se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces to a cu<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.(a) Sale o<span class=\"_ _3\"></span>f goo<span class=\"_ _3\"></span>dsCont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt has o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y 1 pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>for<span class=\"ls4 ws4\">-</span>man<span class=\"_ _3\"></span>ce ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Reven<span class=\"_ _3\"></span>ue reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n occur<span class=\"_ _3\"></span>s at a p<span class=\"_ _3\"></span>oint i<span class=\"_ _3\"></span>n tim<span class=\"_ _3\"></span>e, wh<span class=\"_ _3\"></span>en con<span class=\"_ _3\"></span>trol of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red to th<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly on d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _1\"></span>y of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>ods<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng warranty options<span class=\"_ _0\"></span>: the Group<span class=\"_ _0\"></span> provides w<span class=\"_ _0\"></span>arranties for<span class=\"_ _0\"></span> general repairs<span class=\"_ _0\"></span> of which t<span class=\"_ _0\"></span>he Group det<span class=\"_ _0\"></span>ermined that suc<span class=\"_ _0\"></span>h warranties are<span class=\"_ _0\"></span> assurance-t<span class=\"_ _3\"></span>ype warranties whic<span class=\"_ _0\"></span>h are<span class=\"_ _0\"></span> account<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> under IA<span class=\"_ _3\"></span>S 37 P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, Con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt Lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d Con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt A<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.(b<span class=\"_ _0\"></span>) Rendering<span class=\"_ _0\"></span> of servicesTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>es se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices w<span class=\"_ _3\"></span>ithi<span class=\"_ _3\"></span>n all s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s are so<span class=\"_ _3\"></span>ld ei<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r on t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir own i<span class=\"_ _3\"></span>n contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s with t<span class=\"_ _3\"></span>he custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s or b<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>dle<span class=\"_ _3\"></span>d toget<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r wit<span class=\"_ _3\"></span>h the s<span class=\"_ _3\"></span>ale o<span class=\"_ _3\"></span>f equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t to a custom<span class=\"_ _3\"></span>er. The G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d service as s<span class=\"_ _0\"></span>eparate deliv<span class=\"_ _0\"></span>erables of bundled<span class=\"_ _0\"></span> sales and allocat<span class=\"_ _0\"></span>es consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ese d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>ver<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he rel<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d-<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>one s<span class=\"_ _3\"></span>ell<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pri<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ses se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice rev<span class=\"ls4 ws4\">-</span>en<span class=\"_ _3\"></span>ue by refere<span class=\"_ _3\"></span>nce to the s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f comp<span class=\"_ _3\"></span>leti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup recog<span class=\"_ _3\"></span>nis<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces over t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>at th<span class=\"_ _3\"></span>e custom<span class=\"_ _3\"></span>er sim<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sly rece<span class=\"_ _3\"></span>ives a<span class=\"_ _3\"></span>nd con<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed by th<span class=\"_ _3\"></span>e Grou<span class=\"_ _3\"></span>p. Con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly, the G<span class=\"_ _3\"></span>roup re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>s reven<span class=\"_ _3\"></span>ue for th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s/ser<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of b<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>dle<span class=\"_ _3\"></span>d contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts ove<span class=\"_ _3\"></span>r ti<span class=\"_ _3\"></span>me ra<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an at a p<span class=\"_ _3\"></span>oint o<span class=\"_ _3\"></span>f tim<span class=\"_ _3\"></span>e.Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce is de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of the a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d is recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span> within<span class=\"_ _0\"></span> other operating inc<span class=\"_ _0\"></span>ome. (c) Pr<span class=\"_ _3\"></span>oj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tsFor reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e out of p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>leti<span class=\"_ _3\"></span>on met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d is use<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>utcome of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct c<span class=\"_ _3\"></span>an be assessed wi<span class=\"_ _0\"></span>th rea<span class=\"_ _0\"></span>sonable certainty.<span class=\"_ _0\"></span> These projects generally have a li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e of les<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.12. Government grantsGovernment<span class=\"_ _0\"></span> grants relat<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> resear<span class=\"_ _0\"></span>ch and dev<span class=\"_ _0\"></span>elopment proj<span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r forms o<span class=\"_ _3\"></span>f gover<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ssis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nce a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized as in<span class=\"_ _3\"></span>come u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n ir<span class=\"_ _3\"></span>revers<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ach<span class=\"_ _3\"></span>ieve<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d by referen<span class=\"_ _3\"></span>ce to the re<span class=\"_ _3\"></span>leva<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s incu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.13. T<span class=\"_ _18\"></span>rade debtors and other amounts receivableT<span class=\"_ _2\"></span>rade debtors<span class=\"_ _0\"></span> and other amounts r<span class=\"_ _0\"></span>eceivable ar<span class=\"_ _0\"></span>e shown<span class=\"_ _0\"></span> on the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce shee<span class=\"_ _3\"></span>t at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t (in ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l, th<span class=\"_ _3\"></span>e or<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>nal am<span class=\"_ _3\"></span>ount i<span class=\"_ _3\"></span>nvoi<span class=\"_ _3\"></span>ced) le<span class=\"_ _3\"></span>ss an a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts a<span class=\"_ _3\"></span>nd les<span class=\"_ _3\"></span>s an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt for ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted cre<span class=\"_ _3\"></span>dit lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce for do<span class=\"_ _3\"></span>ubt<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>s recorde<span class=\"_ _3\"></span>d in o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en it is p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny wi<span class=\"_ _3\"></span>ll no<span class=\"_ _3\"></span>t be a<span class=\"_ _3\"></span>ble to col<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t all a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s due<span class=\"_ _3\"></span>. All<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re calcu<span class=\"_ _3\"></span>lated o<span class=\"_ _3\"></span>n an i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>is, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on an a<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. For th<span class=\"_ _3\"></span>e dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on of the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>imp<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch an<span class=\"_ _3\"></span>d records li<span class=\"_ _3\"></span>fetim<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>.14<span class=\"_ _0\"></span>. Cash and cash equivalentsCas<span class=\"_ _3\"></span>h an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h eq<span class=\"_ _3\"></span>uiv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s consi<span class=\"_ _3\"></span>st of c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ba<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ances<span class=\"_ _0\"></span> with banks and s<span class=\"_ _0\"></span>hor<span class=\"_ _3\"></span>t-term<span class=\"_ _0\"></span> investments wi<span class=\"_ _0\"></span>th an original<span class=\"_ _0\"></span> matu<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>ate or no<span class=\"_ _3\"></span>tice p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths o<span class=\"_ _3\"></span>r les<span class=\"_ _3\"></span>s. It i<span class=\"_ _3\"></span>s the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y to hol<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s to mat<span class=\"_ _3\"></span>urit<span class=\"_ _3\"></span>y. All i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>lly reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e cost at recog<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ion d<span class=\"_ _3\"></span>ate. 15. ProvisionsProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are record<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has a p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt leg<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>r cons<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of a p<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t event<span class=\"_ _3\"></span>, it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble tha<span class=\"_ _3\"></span>t an ou<span class=\"_ _3\"></span>tf<span class=\"_ _3\"></span>low of re<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rces em<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>dy<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ts wil<span class=\"_ _3\"></span>l be re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>red to set<span class=\"_ _3\"></span>tle t<span class=\"_ _3\"></span>he ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a rel<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mate can b<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>de to t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>izes the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y to rep<span class=\"_ _3\"></span>air o<span class=\"_ _3\"></span>r repl<span class=\"_ _3\"></span>ace p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ill u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. Th<span class=\"_ _3\"></span>e prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce of the le<span class=\"_ _0\"></span>vel of r<span class=\"_ _0\"></span>epairs and r<span class=\"_ _0\"></span>eplacements.A provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng is o<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up ha<span class=\"_ _3\"></span>s app<span class=\"_ _3\"></span>roved a d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d and fo<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>as ei<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r comm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced or h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d to thos<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>fecte<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e pla<span class=\"_ _3\"></span>n be<span class=\"_ _3\"></span>fore th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date. On t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne item \u2018<span class=\"_ _3\"></span>Lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns\u2019, the comp<span class=\"_ _3\"></span>any p<span class=\"_ _3\"></span>res-ent<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>ng to th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>retirem<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t obligation<span class=\"_ _0\"></span>s which<span class=\"_ _0\"></span> includes the<span class=\"_ _0\"></span> Belgian de<span class=\"_ _0\"></span>fined<span class=\"_ _3\"></span>-contribu<span class=\"_ _0\"></span>tion pension plans<span class=\"_ _0\"></span> that ar<span class=\"_ _0\"></span>e by law<span class=\"_ _0\"></span> subject t<span class=\"_ _0\"></span>o minimum guarant<span class=\"_ _0\"></span>eed rates of ret<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>. Pen<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n leg<span class=\"_ _3\"></span>isl<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n was a<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2015 a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>inim<span class=\"_ _3\"></span>um g<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>antee<span class=\"_ _3\"></span>d rate of retu<span class=\"_ _3\"></span>rn as a va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>ercen<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge li<span class=\"_ _3\"></span>nked to g<span class=\"_ _3\"></span>over<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d yie<span class=\"_ _3\"></span>lds obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>rket as f<span class=\"_ _3\"></span>rom 1 Ja<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2016 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>. For 2022 th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>imu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed r<span class=\"_ _3\"></span>ate of retur<span class=\"_ _3\"></span>n rema<span class=\"_ _3\"></span>ins th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me as in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, i.e. 1<span class=\"_ _3\"></span>.75% on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. We refer to note 19 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n. A<span class=\"_ _3\"></span>s a cons<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce, th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ans have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accoun<span class=\"_ _3\"></span>ted for as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>.16. Equity \u2013 costs of an equity transaction Th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s of a<span class=\"_ _3\"></span>n eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for as a d<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n from e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, n<span class=\"_ _3\"></span>et of any re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax ben<span class=\"_ _3\"></span>efit<span class=\"_ _3\"></span>.17<span class=\"_ _2\"></span>. Interest-bearing loans and borrowingsAll l<span class=\"_ _3\"></span>oan<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs a<span class=\"_ _3\"></span>re init<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly reco<span class=\"_ _3\"></span>gnized at cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, be<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n recei<span class=\"_ _3\"></span>ved n<span class=\"_ _3\"></span>et of iss<span class=\"_ _3\"></span>ue cos<span class=\"_ _3\"></span>ts ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>ted with t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an/b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>g. S<span class=\"_ _3\"></span>ubse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ent to in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l rec<span class=\"ls4 ws4\">-</span>ognition, in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>bearing loans<span class=\"_ _0\"></span> and borrowings<span class=\"_ _0\"></span> are stat<span class=\"_ _0\"></span>ed at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te meth<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>zed cost is ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated by t<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>to account a<span class=\"_ _3\"></span>ny iss<span class=\"_ _3\"></span>ue cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d any d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt or p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>um on s<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>e interes<span class=\"_ _3\"></span>t me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d is a m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od of c<span class=\"_ _3\"></span>alcu<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t of a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d of all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e over t<span class=\"_ _3\"></span>he rele<span class=\"_ _3\"></span>van<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive inte<span class=\"_ _3\"></span>rest r<span class=\"_ _3\"></span>ate is the r<span class=\"_ _3\"></span>ate that e<span class=\"_ _3\"></span>xac<span class=\"_ _3\"></span>tly di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>ts e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span>mated f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cash p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all fe<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>r recei<span class=\"_ _3\"></span>ved t<span class=\"_ _3\"></span>hat for<span class=\"_ _3\"></span>m an integ<span class=\"_ _3\"></span>ral p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve interes<span class=\"_ _3\"></span>t rate, t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>remi<span class=\"_ _3\"></span>ums o<span class=\"_ _3\"></span>r disco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s) thro<span class=\"_ _3\"></span>ugh t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d life of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, o<span class=\"_ _3\"></span>r (wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>prop<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ate) a shor<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, to the n<span class=\"_ _3\"></span>et c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t on in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>l reco<span class=\"_ _3\"></span>gnit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.Whe<span class=\"_ _3\"></span>n a fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>red at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t is mo<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ifi<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>out t<span class=\"_ _3\"></span>his res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n dere<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, a gai<span class=\"_ _3\"></span>n or lo<span class=\"_ _3\"></span>ss is recog<span class=\"_ _3\"></span>nized in p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r loss<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s is ca<span class=\"_ _3\"></span>lcula<span class=\"_ _3\"></span>ted as the d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>rig<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws an<span class=\"_ _3\"></span>d the m<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ied c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s dis<span class=\"_ _3\"></span>counted a<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>al ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e.The measu<span class=\"_ _0\"></span>rement of<span class=\"_ _0\"></span> a writt<span class=\"_ _0\"></span>en put op<span class=\"_ _0\"></span>tion liabi<span class=\"_ _0\"></span>lityWhen the <span class=\"_ _0\"></span>risks and re<span class=\"_ _0\"></span>wards o<span class=\"_ _0\"></span>f ownership transf<span class=\"_ _0\"></span>er to<span class=\"_ _0\"></span> the paren<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>, a fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e put opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted redemption<span class=\"_ _0\"></span> amount and depends<span class=\"_ _0\"></span> on a management estima<span class=\"_ _0\"></span>te of a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (i.e<span class=\"_ _3\"></span>. the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rket va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>, the e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>bab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>t the e<span class=\"_ _3\"></span>xercise co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cted WACC)<span class=\"_ _0\"></span>. Su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ently, the li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s revalu<span class=\"_ _3\"></span>ed to fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue at ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h the i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of u<span class=\"_ _3\"></span>nwi<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d rede<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt d<span class=\"_ _3\"></span>ue to changes in<span class=\"_ _0\"></span> management's assumptions.18. T<span class=\"_ _18\"></span>rade and other payablesT<span class=\"_ _0\"></span>rad<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized cos<span class=\"_ _3\"></span>t, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h is th<span class=\"_ _3\"></span>e cost at reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>his is a<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue.19<span class=\"_ _0\"></span>. Employee benefitsEmp<span class=\"_ _3\"></span>loyee b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized as a<span class=\"_ _3\"></span>n exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he Gro<span class=\"_ _3\"></span>up cons<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>it ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m ser<span class=\"_ _1\"></span>vice provi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d by an e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee i<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s,<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d as a lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y wh<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>n em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice in excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e for em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s to be p<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. Foreign currency ratesDecember 3<span class=\"_ _0\"></span>1, 2022<span class=\"_ _22\"> </span>Dec<span class=\"_ _0\"></span>ember 31, 2<span class=\"_ _0\"></span>021<span class=\"_ _1af\"> </span><span class=\"ls138 ws167\">De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 31, 2020</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cyClosing rate<span class=\"_ _df\"> </span><span class=\"lsda wsf7\">Average ra<span class=\"_ _0\"></span>te<span class=\"_ _17e\"> </span><span class=\"ls133 ws162\">Closin<span class=\"_ _3\"></span>g rate<span class=\"_ _df\"> </span></span>Aver<span class=\"_ _0\"></span>age rate<span class=\"_ _c4\"> </span><span class=\"ls133 ws162\">Clos<span class=\"_ _3\"></span>ing rate<span class=\"_ _df\"> </span></span>Average ra<span class=\"_ _0\"></span>te</span>CNY<span class=\"_ _19b\"> </span><span class=\"ls19c ws271\">7.<span class=\"_ _4\"> </span>3<span class=\"_ _3\"></span>6<span class=\"_ _b0\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _1b0\"> </span>7.<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>7.<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _de\"> </span><span class=\"ls138 ws167\">8<span class=\"_ _3\"></span>.02<span class=\"_ _e1\"> </span></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>8</span>INR<span class=\"_ _1b1\"> </span>88.17<span class=\"_ _11\"> </span>82.69<span class=\"_ _11\"> </span>84.<span class=\"_ _3\"></span>23<span class=\"_ _ad\"> </span>8<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _65\"> </span><span class=\"lsfc ws119\">8<span class=\"_ _3\"></span>9.66<span class=\"_ _73\"> </span><span class=\"lsef ws10c\">8<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>74</span></span>USD<span class=\"_ _d9\"> </span>1.<span class=\"_ _3\"></span>07<span class=\"_ _bc\"> </span>1.05<span class=\"_ _be\"> </span>1.13<span class=\"_ _b0\"> </span>1<span class=\"_ _3\"></span>.18<span class=\"_ _bc\"> </span><span class=\"ls3c ws48\">1.<span class=\"_ _3\"></span>23<span class=\"_ _be\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>14</span></span>20. T<span class=\"_ _18\"></span>ransactions in foreign currenciesT<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cies a<span class=\"_ _3\"></span>re record<span class=\"_ _3\"></span>ed at t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ate of tra<span class=\"_ _3\"></span>nsa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e mon<span class=\"_ _3\"></span>th b<span class=\"_ _3\"></span>efore th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. At t<span class=\"_ _3\"></span>he en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e account<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e uns<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>tled b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces on fo<span class=\"_ _3\"></span>r<span class=\"ls4 ws4\">-</span>eig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s are va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e rates of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e preva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he acco<span class=\"_ _3\"></span>unti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Forei<span class=\"_ _3\"></span>gn exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge g<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es are re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the<span class=\"_ _3\"></span>y aris<span class=\"_ _3\"></span>e.21. Foreign Group companiesIn th<span class=\"_ _3\"></span>e conso<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>dated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, all item<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nts o<span class=\"_ _3\"></span>f forei<span class=\"_ _3\"></span>gn su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>lated i<span class=\"_ _3\"></span>nto euro at t<span class=\"_ _3\"></span>he aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e rates fo<span class=\"_ _3\"></span>r the a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce sheets of<span class=\"_ _0\"></span> foreign g<span class=\"_ _0\"></span>roup c<span class=\"_ _0\"></span>ompanies are trans<span class=\"_ _0\"></span>lated in<span class=\"_ _0\"></span>to eur<span class=\"_ _0\"></span>o at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ing at t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>ing excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>re clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ied i<span class=\"_ _3\"></span>n a sep<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ate comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent of \u2018othe<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e\u2019<span class=\"_ _0\"></span>, u<span class=\"_ _3\"></span>ntil d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>l of th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. 22. Derivative financial instrumentsDerivative<span class=\"_ _0\"></span> financial instruments ar<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed initially<span class=\"_ _0\"></span> at c<span class=\"_ _0\"></span>ost, whi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>n (in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ase of an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>) or rece<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>d (in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>se of a li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y) fo<span class=\"_ _3\"></span>r it. S<span class=\"_ _3\"></span>ubs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>t to<span class=\"_ _0\"></span> initial r<span class=\"_ _0\"></span>ecognition, deriva<span class=\"_ _0\"></span>tive financial<span class=\"_ _0\"></span> instruments are<span class=\"_ _0\"></span> st<span class=\"_ _3\"></span>at<span class=\"_ _0\"></span>ed at fai<span class=\"_ _0\"></span>r value.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>he fair<span class=\"_ _0\"></span> values of<span class=\"_ _0\"></span> derivativ<span class=\"_ _0\"></span>e int<span class=\"_ _0\"></span>erest c<span class=\"_ _0\"></span>ontracts are es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cted f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s usin<span class=\"_ _3\"></span>g cur<span class=\"_ _3\"></span>rent ma<span class=\"_ _3\"></span>rket in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d yi<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d cur<span class=\"_ _3\"></span>ve ove<span class=\"_ _3\"></span>r the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m of th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd exc<span class=\"_ _0\"></span>hange contracts is<span class=\"_ _0\"></span> estimated<span class=\"_ _0\"></span> using valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard p<span class=\"_ _3\"></span>rici<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p mo<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ls at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance she<span class=\"_ _3\"></span>et date. Derivative<span class=\"_ _0\"></span> financial instruments t<span class=\"_ _0\"></span>hat are<span class=\"_ _0\"></span> either hedging instru<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re not d<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ated or d<span class=\"_ _3\"></span>o not q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es are ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>t fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue w<span class=\"_ _3\"></span>ith cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the incom<span class=\"_ _3\"></span>e stateme<span class=\"_ _3\"></span>nt.Whe<span class=\"_ _3\"></span>re a de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t is de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>nated a<span class=\"_ _3\"></span>s a hed<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span> of th<span class=\"_ _3\"></span>e var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows of a reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed asse<span class=\"_ _3\"></span>t or lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, or a<span class=\"_ _0\"></span> highly pr<span class=\"_ _0\"></span>obable for<span class=\"_ _0\"></span>ecasted<span class=\"_ _0\"></span> transaction, the<span class=\"_ _0\"></span> effective<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>t of any g<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>r loss o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t is recog<span class=\"_ _3\"></span>nized di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tly in \u2018oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come\u2019 w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he ine<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t and l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>.Fin<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fset a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt is repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t whe<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>ere is a le<span class=\"_ _3\"></span>gal<span class=\"_ _3\"></span>ly enfo<span class=\"_ _3\"></span>rce<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ri<span class=\"_ _3\"></span>ght to of<span class=\"_ _3\"></span>fse<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere is a<span class=\"_ _3\"></span>n intent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to sett<span class=\"_ _3\"></span>le on a n<span class=\"_ _3\"></span>et ba<span class=\"_ _3\"></span>sis o<span class=\"_ _3\"></span>r realize th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et an<span class=\"_ _3\"></span>d set<span class=\"_ _3\"></span>tle the liability simultan<span class=\"_ _3\"></span>eously<span class=\"_ _0\"></span>.23. Income taxesCurre<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>xes a<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d are ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>g to loc<span class=\"_ _3\"></span>al ta<span class=\"_ _3\"></span>x ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>.Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>od, fo<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en the t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>asis of a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g val<span class=\"_ _3\"></span>ues for fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pu<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>ax r<span class=\"_ _3\"></span>ates use<span class=\"_ _3\"></span>d are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to ap<span class=\"_ _3\"></span>ply to th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set is re<span class=\"_ _3\"></span>alized o<span class=\"_ _3\"></span>r the l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y is set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>ax ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x laws t<span class=\"_ _3\"></span>hat h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted or su<span class=\"_ _3\"></span>bst<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted at th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet da<span class=\"_ _3\"></span>te.Defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ll de<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard of u<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, to the ex<span class=\"_ _3\"></span>tent t<span class=\"_ _3\"></span>hat it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st w<span class=\"_ _3\"></span>hich t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y d<span class=\"_ _3\"></span>if<span class=\"ls4 ws4\">-</span>feren<span class=\"_ _3\"></span>ces<span class=\"_ _3\"></span>, car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>ses can b<span class=\"_ _3\"></span>e ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>ets i<span class=\"_ _3\"></span>s revie<span class=\"_ _3\"></span>wed at e<span class=\"_ _3\"></span>ach b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate an<span class=\"_ _3\"></span>d redu<span class=\"_ _3\"></span>ced to the e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>t that i<span class=\"_ _3\"></span>t is no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e that s<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt ta<span class=\"_ _3\"></span>x<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le prof<span class=\"_ _3\"></span>it wi<span class=\"_ _3\"></span>ll be a<span class=\"_ _3\"></span>vai<span class=\"_ _3\"></span>lab<span class=\"_ _3\"></span>le to al<span class=\"_ _3\"></span>low al<span class=\"_ _3\"></span>l or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set to b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized.Defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d defe<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>ax lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et, if a l<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ally e<span class=\"_ _3\"></span>nforcea<span class=\"_ _3\"></span>ble r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to set of<span class=\"_ _3\"></span>f cur<span class=\"_ _3\"></span>rent t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st cur<span class=\"_ _3\"></span>rent i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>come t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>te to the sa<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e sam<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>axat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.25. Share-based paymentBarco created w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns for s<span class=\"_ _3\"></span>taf<span class=\"_ _3\"></span>f a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs as we<span class=\"_ _3\"></span>ll as for i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s who p<span class=\"_ _3\"></span>lay a<span class=\"_ _3\"></span>n im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>t role in t<span class=\"_ _3\"></span>he comp<span class=\"_ _3\"></span>any. Accordin<span class=\"_ _3\"></span>g to the p<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of I<span class=\"_ _3\"></span>FRS2, t<span class=\"_ _3\"></span>he cos<span class=\"_ _3\"></span>t of sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e statem<span class=\"_ _3\"></span>ent.Th<span class=\"_ _3\"></span>e wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at g<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>t date, bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>hare p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce at gra<span class=\"_ _3\"></span>nt date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d volatili<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, dividend estimat<span class=\"_ _0\"></span>es, and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>tes. W<span class=\"_ _0\"></span>arrant co<span class=\"_ _0\"></span>st is ta<span class=\"_ _3\"></span>ken into res<span class=\"_ _3\"></span>ult on a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>aig<span class=\"_ _3\"></span>ht-l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e basis f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te unti<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of the v<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. 26. Earnings per shareTh<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup c<span class=\"_ _3\"></span>alcul<span class=\"_ _3\"></span>ates b<span class=\"_ _3\"></span>oth ba<span class=\"_ _3\"></span>sic a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>iluted e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs pe<span class=\"_ _3\"></span>r sh<span class=\"_ _3\"></span>are in accord<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce with I<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>S 33, Ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re. Un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r IA<span class=\"_ _3\"></span>S 33, bas<span class=\"_ _3\"></span>ic ea<span class=\"_ _3\"></span>rni<span class=\"_ _3\"></span>ngs p<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re are comp<span class=\"_ _3\"></span>uted u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the w<span class=\"_ _3\"></span>eig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of sh<span class=\"_ _3\"></span>ares o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Di<span class=\"_ _3\"></span>luted ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re are comp<span class=\"_ _3\"></span>uted u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the w<span class=\"_ _3\"></span>eig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of sh<span class=\"_ _3\"></span>ares o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d pl<span class=\"_ _3\"></span>us the d<span class=\"_ _3\"></span>ilu<span class=\"_ _3\"></span>tive ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>and<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s dilu<span class=\"_ _3\"></span>ted ear<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>ngs p<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>hare c<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>not b<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an ba<span class=\"_ _3\"></span>sic ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs p<span class=\"_ _3\"></span>er sh<span class=\"_ _3\"></span>are, di<span class=\"_ _3\"></span>luted e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re are kept e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to basi<span class=\"_ _3\"></span>c ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs p<span class=\"_ _3\"></span>er sh<span class=\"_ _3\"></span>are in c<span class=\"_ _3\"></span>ase of n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve net ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>s.24<span class=\"_ _0\"></span>. Impairment of assetsGo<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll is revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent at le<span class=\"_ _3\"></span>ast a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual<span class=\"_ _3\"></span>ly. For othe<span class=\"_ _3\"></span>r ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>ets<span class=\"_ _3\"></span>, at ea<span class=\"_ _3\"></span>ch ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet d<span class=\"_ _3\"></span>ate, an as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent is m<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e as to wh<span class=\"_ _3\"></span>eth<span class=\"_ _3\"></span>er any i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s that a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ay be i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>aire<span class=\"_ _3\"></span>d. If a<span class=\"_ _3\"></span>ny such i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n exis<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ed ou<span class=\"_ _3\"></span>t in ord<span class=\"_ _3\"></span>er to de<span class=\"_ _3\"></span>termi<span class=\"_ _3\"></span>ne if a<span class=\"_ _3\"></span>nd to wha<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>tent an im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>s nece<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y to red<span class=\"_ _3\"></span>uce th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set to its re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>unt (w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r of (i) va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e in use a<span class=\"_ _3\"></span>nd (i<span class=\"_ _3\"></span>i) fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue le<span class=\"_ _3\"></span>ss cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s to sell<span class=\"_ _3\"></span>). The f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e les<span class=\"_ _3\"></span>s cost<span class=\"_ _3\"></span>s to sell i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s (i) th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (th<span class=\"_ _3\"></span>at is th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice th<span class=\"_ _3\"></span>at wou<span class=\"_ _3\"></span>ld b<span class=\"_ _3\"></span>e receiv<span class=\"_ _3\"></span>ed to se<span class=\"_ _3\"></span>ll an as<span class=\"_ _3\"></span>set i<span class=\"_ _3\"></span>n an o<span class=\"_ _3\"></span>rder<span class=\"_ _3\"></span>ly tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on in the p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ncip<span class=\"_ _3\"></span>al m<span class=\"_ _3\"></span>arket a<span class=\"_ _3\"></span>t the m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>urem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate und<span class=\"_ _3\"></span>er cu<span class=\"_ _3\"></span>rrent mar<span class=\"_ _3\"></span>ket con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s) less (i<span class=\"_ _3\"></span>i) th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l wh<span class=\"_ _3\"></span>ile va<span class=\"_ _3\"></span>lue i<span class=\"_ _3\"></span>n use is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>lows e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d to be de<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>d from a<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set. Re<span class=\"_ _3\"></span>cover<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted for ind<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>idu<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, if th<span class=\"_ _3\"></span>is is n<span class=\"_ _3\"></span>ot pos<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ble, fo<span class=\"_ _3\"></span>r the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it (CGU) to whi<span class=\"_ _3\"></span>ch the a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. An i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t loss i<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized wh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ever t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of an a<span class=\"_ _3\"></span>sset or it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit e<span class=\"_ _3\"></span>xceeds i<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. Rever<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l of im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized i<span class=\"_ _3\"></span>n pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ars i<span class=\"_ _3\"></span>s inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>here is a<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>at th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized for th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et are n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>d or th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es on goodwill, which<span class=\"_ _0\"></span> are nev<span class=\"_ _0\"></span>er rev<span class=\"_ _0\"></span>ersed.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>ir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d ho<span class=\"_ _3\"></span>w issu<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s coul<span class=\"_ _3\"></span>d be res<span class=\"_ _3\"></span>olve<span class=\"_ _3\"></span>d. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>is ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23.27<span class=\"_ _2\"></span>. Discontinued operations and non-current assets held for saleA disco<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>nue<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is a co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p that eit<span class=\"_ _3\"></span>her h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n disp<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d of, or is cl<span class=\"_ _3\"></span>assi<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ed as h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d for sa<span class=\"_ _3\"></span>le an<span class=\"_ _3\"></span>d repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>s a se<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rate ma<span class=\"_ _3\"></span>jor l<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>f bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss a<span class=\"_ _3\"></span>nd is p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of a sin<span class=\"_ _3\"></span>gle co<span class=\"_ _3\"></span>ordi<span class=\"_ _3\"></span>nated p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n to disp<span class=\"_ _3\"></span>ose o<span class=\"_ _3\"></span>f a sep<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>te majo<span class=\"_ _3\"></span>r lin<span class=\"_ _3\"></span>e of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s or is a su<span class=\"_ _3\"></span>bsi<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d exclus<span class=\"_ _3\"></span>ivel<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h a vie<span class=\"_ _3\"></span>w to resa<span class=\"_ _3\"></span>le.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>es a n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>t (or dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sal g<span class=\"_ _3\"></span>roup) a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale if i<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt wil<span class=\"_ _3\"></span>l be re<span class=\"_ _3\"></span>covered p<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>lly thro<span class=\"_ _3\"></span>ugh a s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>act<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n rat<span class=\"_ _3\"></span>her t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n thro<span class=\"_ _3\"></span>ugh co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ng us<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e crite<span class=\"_ _3\"></span>ria fo<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale cl<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>sifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is reg<span class=\"_ _3\"></span>arde<span class=\"_ _3\"></span>d as m<span class=\"_ _3\"></span>et on<span class=\"_ _3\"></span>ly wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>ale is h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hly p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>sset o<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span> grou<span class=\"_ _3\"></span>p is ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r imm<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>iate sa<span class=\"_ _3\"></span>le in i<span class=\"_ _3\"></span>ts p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>ust b<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted w<span class=\"_ _3\"></span>ithi<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n. P<span class=\"_ _3\"></span>rope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y, plant an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s are n<span class=\"_ _3\"></span>ot de<span class=\"_ _3\"></span>preci<span class=\"_ _3\"></span>ated or am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>tized o<span class=\"_ _3\"></span>nce cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ed as h<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>d for sa<span class=\"_ _3\"></span>le.Imm<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>iatel<span class=\"_ _3\"></span>y befo<span class=\"_ _3\"></span>re clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n as h<span class=\"_ _3\"></span>eld fo<span class=\"_ _3\"></span>r sa<span class=\"_ _3\"></span>le, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set (o<span class=\"_ _3\"></span>r all t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al gro<span class=\"_ _3\"></span>up) in a<span class=\"_ _3\"></span>ccordan<span class=\"_ _3\"></span>ce with a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ca<span class=\"_ _3\"></span>ble I<span class=\"_ _3\"></span>FRS<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>, on in<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>al cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>cat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>s he<span class=\"_ _3\"></span>ld for s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>, no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al g<span class=\"_ _3\"></span>roups a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized at t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>eir c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r valu<span class=\"_ _3\"></span>e le<span class=\"_ _3\"></span>ss cost<span class=\"_ _3\"></span>s to se<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>. Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses a<span class=\"_ _3\"></span>re recog<span class=\"_ _3\"></span>nized for a<span class=\"_ _3\"></span>ny init<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>l or su<span class=\"_ _3\"></span>bseq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt wri<span class=\"_ _3\"></span>te-<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>own of t<span class=\"_ _3\"></span>he as<span class=\"_ _3\"></span>set (or d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>l grou<span class=\"_ _3\"></span>p) to fair v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e les<span class=\"_ _3\"></span>s cost<span class=\"_ _3\"></span>s to sel<span class=\"_ _3\"></span>l.IFR<span class=\"_ _0\"></span>S<span class=\"_ _3\"></span> ac<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ing s<span class=\"_ _3\"></span>tandards adop<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>ed as o<span class=\"_ _0\"></span>f 2<span class=\"_ _0\"></span>022Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst-<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>e cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ards an<span class=\"_ _3\"></span>d amendments, which ar<span class=\"_ _0\"></span>e effective<span class=\"_ _0\"></span> for annual periods<span class=\"_ _0\"></span> beginning on o<span class=\"_ _3\"></span>r af<span class=\"_ _3\"></span>ter 1 Ja<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2022. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up ha<span class=\"_ _3\"></span>s not ea<span class=\"_ _3\"></span>rly a<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>pted any o<span class=\"_ _0\"></span>ther standard, int<span class=\"_ _0\"></span>erpretation<span class=\"_ _0\"></span> or amendment that<span class=\"_ _0\"></span> has been iss<span class=\"_ _3\"></span>ued b<span class=\"_ _3\"></span>ut is n<span class=\"_ _3\"></span>ot yet ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve.\u2022<span class=\"_ _0\"></span> <span class=\"_ _24\"> </span>Ame<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to IFR<span class=\"_ _3\"></span>S 3 Bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss Co<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s; IAS 16 Prope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d Equip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt; IA<span class=\"_ _3\"></span>S 3<span class=\"_ _3\"></span>7 Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, Cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent L<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d Cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s as we<span class=\"_ _3\"></span>ll as Annual Impr<span class=\"_ _0\"></span>ovements, effective<span class=\"_ _0\"></span> 1 Januar<span class=\"_ _3\"></span>y 2<span class=\"_ _0\"></span>022\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Am<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ent to IFRS 16 Lea<span class=\"_ _3\"></span>ses Cov<span class=\"_ _3\"></span>id 1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Rel<span class=\"_ _3\"></span>ated Re<span class=\"_ _3\"></span>nt Con<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd 3<span class=\"_ _3\"></span>0 Jun<span class=\"_ _3\"></span>e 2021 (ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 01<span class=\"_ _3\"></span>/04/2021<span class=\"_ _3\"></span>, with ear<span class=\"_ _3\"></span>ly app<span class=\"_ _3\"></span>licati<span class=\"_ _3\"></span>on pe<span class=\"_ _3\"></span>rmit<span class=\"_ _3\"></span>ted)No<span class=\"_ _3\"></span>ne of th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e IFRS s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rds is<span class=\"_ _3\"></span>sue<span class=\"_ _3\"></span>d have a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco\u2019s fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.IFR<span class=\"_ _0\"></span>S<span class=\"_ _3\"></span> ac<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ing s<span class=\"_ _3\"></span>tandards iss<span class=\"_ _0\"></span>ued bu<span class=\"_ _0\"></span>t not y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>t effect<span class=\"_ _0\"></span>ive a<span class=\"_ _0\"></span>s of 202<span class=\"_ _3\"></span>2Stan<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>rds i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ut not yet e<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>veTh<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>rds an<span class=\"_ _3\"></span>d interp<span class=\"_ _3\"></span>reta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at are is<span class=\"_ _3\"></span>sue<span class=\"_ _3\"></span>d, b<span class=\"_ _3\"></span>ut no<span class=\"_ _3\"></span>t yet ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive, u<span class=\"_ _3\"></span>p to the da<span class=\"_ _3\"></span>te of issu<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce of the G<span class=\"_ _3\"></span>roup\u2019s f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are di<span class=\"_ _3\"></span>sclos<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>elow. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>ntend<span class=\"_ _3\"></span>s to ado<span class=\"_ _3\"></span>pt these standard<span class=\"_ _0\"></span>s and int<span class=\"_ _0\"></span>erpretations,<span class=\"_ _0\"></span> if applicable, when<span class=\"_ _0\"></span> they become e<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fectiv<span class=\"_ _0\"></span>e.\u2022 <span class=\"_ _5e\"> </span>Ame<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IA<span class=\"_ _3\"></span>S 1 Prese<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial St<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d IFRS Pr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tice St<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt 2: Dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re of Account<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023\u2022 <span class=\"_ _141\"> </span>IFR<span class=\"_ _3\"></span>S 17 \u2018<span class=\"_ _3\"></span>Insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s\u2019<span class=\"_ _0\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 1 Jan<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2023\u2022 <span class=\"_ _24\"> </span>A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IA<span class=\"_ _3\"></span>S 8 Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in Accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d Error<span class=\"_ _3\"></span>s: Def<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of Accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g Estimat<span class=\"_ _0\"></span>es, effective 1<span class=\"_ _0\"></span> Januar<span class=\"_ _3\"></span>y 20<span class=\"_ _0\"></span>231\u2022 <span class=\"_ _5e\"> </span>A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IAS 1 \u2018<span class=\"_ _3\"></span>Pre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of F<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l State<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts: Clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of Li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>s curre<span class=\"_ _3\"></span>nt or n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019, effec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tive 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023\u2022 <span class=\"_ _5e\"> </span>Am<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IAS 1<span class=\"_ _3\"></span>2 I<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e T<span class=\"_ _0\"></span>axes: De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>x rel<span class=\"_ _3\"></span>ated to As<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d Li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>le T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive 1 J<span class=\"_ _3\"></span>anu<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y 202<span class=\"_ _3\"></span>3\u2022<span class=\"_ _0\"></span> <span class=\"_ _119\"> </span>A<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to IFRS 17 In<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>act<span class=\"_ _3\"></span>s: Ini<span class=\"_ _3\"></span>tia<span class=\"_ _3\"></span>l<span class=\"_ _0\"></span> Ap<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>icat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of IFRS 1<span class=\"_ _3\"></span>7 and I<span class=\"_ _3\"></span>FRS 9 \u2013 Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ive Info<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n (iss<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d on 9 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021<span class=\"_ _3\"></span>, ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve 1 Jan<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y 2023 No<span class=\"_ _3\"></span>ne of th<span class=\"_ _3\"></span>e IFR<span class=\"_ _3\"></span>S st<span class=\"_ _3\"></span>and<span class=\"_ _3\"></span>ards is<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>ed, b<span class=\"_ _3\"></span>ut n<span class=\"_ _3\"></span>ot yet ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve are exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to have a m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on B<span class=\"_ _3\"></span>arco\u2019s fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.(1<span class=\"_ _3\"></span>) <span class=\"_ _8\"> </span>N<span class=\"_ _3\"></span>ot yet e<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>he Eu<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>n Un<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n as a<span class=\"_ _3\"></span>t 31 De<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>22.C<span class=\"_ _0\"></span>rit<span class=\"_ _0\"></span>ical ac<span class=\"_ _2\"></span>co<span class=\"_ _0\"></span>unt<span class=\"_ _0\"></span>ing j<span class=\"_ _0\"></span>udgmen<span class=\"_ _0\"></span>ts and k<span class=\"_ _0\"></span>ey s<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>es of es<span class=\"_ _0\"></span>tim<span class=\"_ _0\"></span>at<span class=\"_ _0\"></span>ion unc<span class=\"_ _2\"></span>er<span class=\"_ _3\"></span>tain<span class=\"_ _0\"></span>tyGeneral business risksOve<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020 th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c cond<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave be<span class=\"_ _3\"></span>en af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 Bar<span class=\"_ _0\"></span>co i<span class=\"_ _0\"></span>ncluded.We refer to the ch<span class=\"_ _3\"></span>apter \u2018<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s\u2019 (see Corporat<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> Gove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce &amp; Risk rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e 29<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>43<span class=\"fc0\">) fo<span class=\"_ _3\"></span>r an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e </span>risk<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f the B<span class=\"_ _3\"></span>arco Gro<span class=\"_ _3\"></span>up. \u2022  <span class=\"_ _8\"> </span>T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s: as prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>usl<span class=\"_ _3\"></span>y discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d, Ba<span class=\"_ _3\"></span>rco is not i<span class=\"_ _3\"></span>mmu<span class=\"_ _3\"></span>ne to com<span class=\"_ _3\"></span>po-ne<span class=\"_ _3\"></span>nt sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain co<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch have impact<span class=\"_ _0\"></span>ed and c<span class=\"_ _0\"></span>ontinue t<span class=\"_ _0\"></span>o impact c<span class=\"_ _0\"></span>ertain product<span class=\"_ _0\"></span> lines. Th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>late to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>live<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>es of comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _24\"> </span>Hi<span class=\"_ _3\"></span>gh inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in mos<span class=\"_ _3\"></span>t ge<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>phi<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rel<span class=\"_ _3\"></span>ated to sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, energy and<span class=\"_ _0\"></span> component c<span class=\"_ _0\"></span>ost<span class=\"_ _3\"></span>s.\u2022<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Remaining pandemic-r<span class=\"_ _0\"></span>elated effects in<span class=\"_ _0\"></span> China. Sev<span class=\"_ _0\"></span>eral lockd<span class=\"_ _3\"></span>own<span class=\"_ _3\"></span>s lead to lo<span class=\"_ _3\"></span>wer p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he Chin<span class=\"_ _3\"></span>a regi<span class=\"_ _3\"></span>on (m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly bu<span class=\"_ _3\"></span>t not l<span class=\"_ _3\"></span>imite<span class=\"_ _3\"></span>d to the Ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>in<span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>s).\u2022 <span class=\"_ _141\"> </span>Scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y of<span class=\"_ _0\"></span> human resour<span class=\"_ _0\"></span>ces and<span class=\"_ _0\"></span> talent.A<span class=\"_ _3\"></span>s Russ<span class=\"_ _3\"></span>ia's inva<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n of Ukr<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns towa<span class=\"_ _3\"></span>rds Rus<span class=\"_ _3\"></span>sia have a li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on Ba<span class=\"_ _3\"></span>rco's busi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s over<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>, con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly the<span class=\"_ _3\"></span>re is no s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>nt ris<span class=\"_ _3\"></span>k. Fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ore Ba<span class=\"_ _3\"></span>rco reviewe<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d that t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no mat<span class=\"_ _0\"></span>erial impact.ApproachIn th<span class=\"_ _3\"></span>is se<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, Barco ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s its r<span class=\"_ _3\"></span>isk m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>lan re<span class=\"_ _3\"></span>lated<span class=\"_ _3\"></span> to the m<span class=\"_ _3\"></span>ain 202<span class=\"_ _3\"></span>2 macro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>.Op<span class=\"_ _3\"></span>erat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d supp<span class=\"_ _3\"></span>ly ch<span class=\"_ _3\"></span>ainTh<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>wid<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es in d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t comm<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>1 and 20<span class=\"_ _0\"></span>22, test<span class=\"_ _0\"></span>ed Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> supply chain<span class=\"_ _0\"></span> resilience<span class=\"_ _0\"></span>. Barc<span class=\"_ _0\"></span>o's<span class=\"_ _0\"></span> stro<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>ps an<span class=\"_ _3\"></span>d agi<span class=\"_ _3\"></span>le ap<span class=\"_ _3\"></span>proa<span class=\"_ _3\"></span>ch have p<span class=\"_ _3\"></span>roven to be key to fi<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the s<span class=\"_ _3\"></span>hor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n man<span class=\"_ _3\"></span>y case<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Neve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, Barco is n<span class=\"_ _3\"></span>ot imm<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>e to comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sup<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n const<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich have i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>acte<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d conti<span class=\"_ _3\"></span>nue to i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e team has l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gated th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t was fe<span class=\"_ _3\"></span>lt in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f de<span class=\"_ _3\"></span>laye<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, rat<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lled o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco expe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ced a de<span class=\"_ _3\"></span>lay in sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e year of a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut 40 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily in En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent fo<span class=\"_ _3\"></span>r proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tor-l<span class=\"_ _3\"></span>ine d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. B<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the t<span class=\"_ _3\"></span>hird q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter thi<span class=\"_ _3\"></span>s de<span class=\"_ _3\"></span>lay d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>ed to 20 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro w<span class=\"_ _3\"></span>ith f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mprove<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt toward<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar<span class=\"_ _0\"></span>.Barco ha<span class=\"_ _3\"></span>s ad<span class=\"_ _3\"></span>dres<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se cha<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s by inten<span class=\"_ _3\"></span>se coll<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on with al<span class=\"_ _0\"></span>l suppliers and the<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span>volvement o<span class=\"_ _0\"></span>f brok<span class=\"_ _0\"></span>ers for the s<span class=\"_ _3\"></span>ourci<span class=\"_ _3\"></span>ng of cri<span class=\"_ _3\"></span>tic<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>re, the re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sign<span class=\"_ _3\"></span> of pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant m<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l con<span class=\"_ _0\"></span>tinue to<span class=\"_ _0\"></span> be. For<span class=\"_ _0\"></span> certain componen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> subassemblies, inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>een te<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ora<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y increa<span class=\"_ _3\"></span>sed to lo<span class=\"_ _3\"></span>wer th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. Cop<span class=\"_ _3\"></span>ing wi<span class=\"_ _3\"></span>th inf<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>h com<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y pri<span class=\"_ _3\"></span>cesTh<span class=\"_ _3\"></span>e af<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>math o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n geo<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>olit<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n have l<span class=\"_ _3\"></span>ed to hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>tes an<span class=\"_ _3\"></span>d a stee<span class=\"_ _3\"></span>p increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A a<span class=\"_ _3\"></span>nd A<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco ha<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>ly low ex<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>nal d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed inte<span class=\"_ _3\"></span>rest rates o<span class=\"_ _3\"></span>n 2022 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s is li<span class=\"_ _3\"></span>mite<span class=\"_ _3\"></span>d. Th<span class=\"_ _3\"></span>e ris<span class=\"_ _3\"></span>ks d<span class=\"_ _3\"></span>escr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n this c<span class=\"_ _3\"></span>hap<span class=\"_ _3\"></span>ter are no<span class=\"_ _3\"></span>t the o<span class=\"_ _3\"></span>nl<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>ks f<span class=\"_ _3\"></span>acin<span class=\"_ _3\"></span>g the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any. Addi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l risk<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inti<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot cur<span class=\"_ _3\"></span>rently kno<span class=\"_ _3\"></span>wn to the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any cur<span class=\"_ _3\"></span>rently d<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>ms to be im<span class=\"_ _3\"></span>mater<span class=\"_ _3\"></span>ial a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so may m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y ad<span class=\"_ _3\"></span>vers<span class=\"_ _3\"></span>ely a<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ness, financial<span class=\"_ _0\"></span> condition and/<span class=\"_ _2\"></span>or operating r<span class=\"_ _0\"></span>esults.In vi<span class=\"_ _3\"></span>ew of cli<span class=\"_ _3\"></span>mate rel<span class=\"_ _3\"></span>ated mat<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s busin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s is no<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by ex<span class=\"_ _3\"></span>trem<span class=\"_ _3\"></span>e weat<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns su<span class=\"_ _3\"></span>ch as drou<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s or f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>ds<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco is movi<span class=\"_ _3\"></span>ng towa<span class=\"_ _3\"></span>rds mo<span class=\"_ _3\"></span>re eco<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>fri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dly p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d we se<span class=\"_ _3\"></span>e that o<span class=\"_ _3\"></span>ur cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er\u2019s b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avio<span class=\"_ _3\"></span>ur a<span class=\"_ _3\"></span>nd de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd is ma<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me evo<span class=\"_ _3\"></span>luti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.De<span class=\"_ _3\"></span>ep di<span class=\"_ _3\"></span>ve on th<span class=\"_ _3\"></span>e 2022 co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>que<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>act of t<span class=\"_ _3\"></span>he macroeconomic environmentIn 2022, e<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>lly af<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>r the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter, the gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l covi<span class=\"_ _3\"></span>d-19 situ<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>ly, allow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns to be c<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>rie<span class=\"_ _3\"></span>d out i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>l con<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>in an<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d for o<span class=\"_ _3\"></span>ur pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g in m<span class=\"_ _3\"></span>ost g<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>aph<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e mai<span class=\"_ _3\"></span>n except<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>s Chin<span class=\"_ _3\"></span>a, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re loc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>ed to af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct th<span class=\"_ _3\"></span>e bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span> an<span class=\"_ _3\"></span>d loc<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s thro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e ful<span class=\"_ _3\"></span>l year. In the a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ath of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>s a result o<span class=\"_ _3\"></span>f geo<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l even<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, 2022 pos<span class=\"_ _3\"></span>ed n<span class=\"_ _3\"></span>ew ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic ch<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses all ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld \u2013 in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Barco. T<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ain o<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>s were:Th<span class=\"_ _3\"></span>e inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly en<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, sa<span class=\"_ _3\"></span>lar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>nd com<span class=\"_ _1\"></span><span class=\"ls4 ws4\">-</span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt sou<span class=\"_ _3\"></span>rcing<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>l the<span class=\"_ _3\"></span>se cost<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re be<span class=\"_ _3\"></span>ing cr<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>cal<span class=\"_ _3\"></span>ly revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imized o<span class=\"_ _3\"></span>n a cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt bas<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s were<span class=\"_ _3\"></span> passed<span class=\"_ _0\"></span> through w<span class=\"_ _0\"></span>ere poss<span class=\"_ _0\"></span>ible.Lif<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g of pa<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>mic m<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, with th<span class=\"_ _3\"></span>e except<span class=\"_ _3\"></span>ion of Ch<span class=\"_ _3\"></span>inaTh<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c covi<span class=\"_ _3\"></span>d-1<span class=\"_ _3\"></span>9 situ<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n has i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in mos<span class=\"_ _3\"></span>t regi<span class=\"_ _3\"></span>ons t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>out 202<span class=\"_ _3\"></span>2, esp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ciall<span class=\"_ _3\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>is has a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>ed to retur<span class=\"_ _3\"></span>n to nor<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span>ized op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. It al<span class=\"_ _3\"></span>so has f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ema<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r our p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, mos<span class=\"_ _3\"></span>t not<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he Ent<span class=\"_ _0\"></span>erprise and E<span class=\"_ _0\"></span>ntertainment divi<span class=\"_ _0\"></span>sions. In Chi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>, the co<span class=\"_ _3\"></span>urs<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c has fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d a dif<span class=\"ls4 ws4\">-</span>ferent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>, with q<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>cker recover<span class=\"_ _1\"></span>y in 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, but sti<span class=\"_ _3\"></span>ll si<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>fic<span class=\"_ _3\"></span>ant l<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns in 2022<span class=\"_ _3\"></span>, af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e busi<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ness operations<span class=\"_ _0\"></span> and the cust<span class=\"_ _0\"></span>omer demand. In our<span class=\"_ _0\"></span> Chinese loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hygie<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c safet<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures (s<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>l dis<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g, venti<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, mas<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, ho<span class=\"_ _3\"></span>mew<span class=\"_ _3\"></span>ork p<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>s) have th<span class=\"_ _3\"></span>erefore b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ut 2022. D<span class=\"_ _3\"></span>esp<span class=\"_ _3\"></span>ite all m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures p<span class=\"_ _3\"></span>ut in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, at tim<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he Chi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns h<span class=\"_ _3\"></span>ave run at l<span class=\"_ _3\"></span>ower c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>acit<span class=\"_ _3\"></span>y tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>.Retaining and attractin<span class=\"_ _3\"></span>g talentTh<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c has p<span class=\"_ _3\"></span>ut m<span class=\"_ _3\"></span>ore pre<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>re on th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>r market<span class=\"_ _0\"></span> in many<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphies, with<span class=\"_ _0\"></span> higher turnov<span class=\"_ _0\"></span>er of personnel see<span class=\"_ _3\"></span>n in m<span class=\"_ _3\"></span>any se<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>so af<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco. Barco has i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> its hiring<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y and emplo<span class=\"_ _0\"></span>yer branding campaigns<span class=\"_ _0\"></span> to a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tract the r<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ta<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er con<span class=\"_ _3\"></span>seq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nce is a<span class=\"_ _3\"></span>n increa<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>age l<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>or cos<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tl<span class=\"_ _3\"></span>y dri<span class=\"_ _3\"></span>ven by s<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. We have cross cha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lab<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>r cost in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on ou<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ere po<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ble to ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>t thi<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed cos<span class=\"_ _3\"></span>t ba<span class=\"_ _3\"></span>se.Stron<span class=\"_ _3\"></span>g fun<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g and l<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>idi<span class=\"_ _3\"></span>ty s<span class=\"_ _3\"></span>truc<span class=\"_ _3\"></span>ture i<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>aceBarco ha<span class=\"_ _3\"></span>s a stro<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y. We refer to note 14 for more d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on B<span class=\"_ _3\"></span>arco\u2019s net ca<span class=\"_ _3\"></span>sh p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.Barco ha<span class=\"_ _3\"></span>s suf<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>icie<span class=\"_ _3\"></span>nt he<span class=\"_ _3\"></span>adro<span class=\"_ _3\"></span>om to en<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le it to confor<span class=\"_ _3\"></span>m to cov<span class=\"ls4 ws4\">-</span>ena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ex<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ing b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rrowi<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h all re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e loa<span class=\"_ _3\"></span>n covena<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le credi<span class=\"_ _3\"></span>t facili<span class=\"_ _0\"></span>ties thr<span class=\"_ _0\"></span>oughout the<span class=\"_ _0\"></span> reporting period.Whi<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure may s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l bri<span class=\"_ _3\"></span>ng so<span class=\"_ _3\"></span>me l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s of he<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>d, Barco\u2019s st<span class=\"_ _3\"></span>rong f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>ure in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce sho<span class=\"_ _3\"></span>uld be m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an su<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fici<span class=\"_ _3\"></span>ent to en<span class=\"_ _3\"></span>sure th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g conce<span class=\"_ _3\"></span>rn of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any. In ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, we refer to note 8 w<span class=\"_ _3\"></span>here w<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n how we te<span class=\"_ _3\"></span>sted g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ll oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rrent a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s for imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d con<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>ded n<span class=\"_ _3\"></span>o im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es ne<span class=\"_ _3\"></span>ed to b<span class=\"_ _3\"></span>erec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed.Key sour<span class=\"_ _3\"></span>ces of e<span class=\"_ _3\"></span>stim<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n unc<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>yUn<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s: The G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p revie<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>eir t<span class=\"_ _3\"></span>ax p<span class=\"_ _3\"></span>osi-tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd in t<span class=\"_ _3\"></span>he t<span class=\"_ _3\"></span>ax f<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ngs an<span class=\"_ _3\"></span>d how th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>. In a<span class=\"_ _3\"></span>ddit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ses h<span class=\"_ _3\"></span>ow th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s mig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke th<span class=\"_ _3\"></span>eir exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ow iss<span class=\"_ _3\"></span>ues t<span class=\"_ _3\"></span>hat m<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>t ari<span class=\"_ _3\"></span>se from e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span><span class=\"ws4\">-</span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be re<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ved. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t, a D<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are recog<span class=\"_ _3\"></span>nized for t<span class=\"_ _3\"></span>he ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd of unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d un<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d tax c<span class=\"_ _3\"></span>redit<span class=\"_ _3\"></span>s to th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tent th<span class=\"_ _3\"></span>at it is pr<span class=\"_ _0\"></span>obable that fut<span class=\"_ _0\"></span>ure taxable<span class=\"_ _0\"></span> profit will<span class=\"_ _0\"></span> be available against<span class=\"_ _0\"></span> whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d unu<span class=\"_ _3\"></span>sed t<span class=\"_ _3\"></span>ax cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s can b<span class=\"_ _3\"></span>e utili<span class=\"_ _0\"></span>zed. In<span class=\"_ _0\"></span> making its judgment, management<span class=\"_ _0\"></span> considers<span class=\"_ _0\"></span> ele<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategy, inclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g tax p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>unit<span class=\"_ _3\"></span>ies (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 10 \u2018Defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies\u2019<span class=\"_ _3\"></span>) a<span class=\"_ _3\"></span>nd lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l ta<span class=\"_ _3\"></span>x laws e<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>cted at t<span class=\"_ _3\"></span>he rep<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span> da<span class=\"_ _3\"></span>te.defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h IFRI<span class=\"_ _3\"></span>C 23 (see<span class=\"_ _3\"></span> note 10 \u2018D<span class=\"_ _3\"></span>efe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s \u2013 de<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s\u2019).<span class=\"_ _24\"> </span>Imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll: th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill for im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y or mo<span class=\"_ _3\"></span>re freq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>ntly if t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re are ind<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns t<span class=\"_ _3\"></span>hat go<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>ll mi<span class=\"_ _3\"></span>ght b<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>red (se<span class=\"_ _3\"></span>e note 8 \u2019Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>\u2019<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter of 2022<span class=\"_ _3\"></span>, did n<span class=\"_ _3\"></span>ot res<span class=\"_ _3\"></span>ult in a<span class=\"_ _3\"></span>n impa<span class=\"_ _3\"></span>irme<span class=\"_ _3\"></span>nt loss.<span class=\"_ _141\"> </span>Wr<span class=\"_ _3\"></span>ite off<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nvento<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>s: Inventor<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s are st<span class=\"_ _3\"></span>ated at t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er of cost o<span class=\"_ _3\"></span>r net rea<span class=\"_ _3\"></span>liz<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>an<span class=\"_ _3\"></span>ce for slow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovin<span class=\"_ _3\"></span>g inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s bas<span class=\"_ _3\"></span>ed on co<span class=\"_ _3\"></span>nsis<span class=\"_ _3\"></span>tent<span class=\"_ _3\"></span>ly ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite of<span class=\"_ _3\"></span>f ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>end o<span class=\"_ _3\"></span>n bo<span class=\"_ _3\"></span>th his<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l an<span class=\"_ _3\"></span>d fut<span class=\"_ _3\"></span>ure de<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>d, of w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the l<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>ter is su<span class=\"_ _3\"></span>bje<span class=\"_ _3\"></span>ct to un<span class=\"_ _3\"></span>cer<span class=\"ls4 ws4\">-</span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y du<span class=\"_ _3\"></span>e to rap<span class=\"_ _3\"></span>id tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. On to<span class=\"_ _3\"></span>p of th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ru<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>re seve<span class=\"_ _3\"></span>re rul<span class=\"_ _3\"></span>es are a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in c<span class=\"_ _3\"></span>ase of for exa<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to stop a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it or p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t lin<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g invento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y on h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d is in th<span class=\"_ _3\"></span>at ca<span class=\"_ _3\"></span>se analyzed<span class=\"_ _0\"></span> and reserved as<span class=\"_ _0\"></span> appropriate<span class=\"_ _0\"></span>. Inven<span class=\"_ _0\"></span>tor<span class=\"_ _3\"></span>y allo<span class=\"_ _0\"></span>wances are on<span class=\"_ _3\"></span>ly rever<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ru<span class=\"_ _3\"></span>les n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r ap<span class=\"_ _3\"></span>ply or th<span class=\"_ _3\"></span>e wr<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ten of<span class=\"_ _3\"></span>f inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s sol<span class=\"_ _3\"></span>d or scr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d (see n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>2 '<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>to<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>'<span class=\"_ _1\"></span>).<span class=\"_ _2a\"> </span>Cur<span class=\"_ _3\"></span>rent exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses: T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es on a for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>kin<span class=\"_ _3\"></span>g ba<span class=\"_ _3\"></span>sis th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>s as<span class=\"_ _3\"></span>soci<span class=\"_ _3\"></span>ated wit<span class=\"_ _3\"></span>h its f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d at am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized cost<span class=\"_ _3\"></span>. For t<span class=\"_ _3\"></span>rad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables, the Group<span class=\"_ _0\"></span> app<span class=\"_ _3\"></span>lies the<span class=\"_ _0\"></span> simplified approach<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>tte<span class=\"_ _3\"></span>d by IFRS 9 Fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch requ<span class=\"_ _3\"></span>ires exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted lifet<span class=\"_ _3\"></span>ime l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es to be re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized from i<span class=\"_ _3\"></span>niti<span class=\"_ _3\"></span>al rec<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ognition o<span class=\"_ _0\"></span>f the rec<span class=\"_ _0\"></span>eivables.T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny to colle<span class=\"_ _3\"></span>ct it<span class=\"_ _3\"></span>s accou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>le ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces is d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nt on t<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d sol<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span>cy of it<span class=\"_ _3\"></span>s bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>tn<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d rese<span class=\"_ _3\"></span>ller<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is inf<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d by bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich i<span class=\"_ _3\"></span>s on it<span class=\"_ _3\"></span>s tu<span class=\"_ _3\"></span>rn influenc<span class=\"_ _0\"></span>ed by c<span class=\"_ _0\"></span>onsumer behavior and<span class=\"_ _0\"></span> general economic condition<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. Cu<span class=\"_ _0\"></span>stomers may e<span class=\"_ _0\"></span>xperien<span class=\"_ _3\"></span>ce<span class=\"_ _0\"></span> financial difficulties<span class=\"_ _0\"></span> that co<span class=\"_ _3\"></span>uld c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>em to be u<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>l th<span class=\"_ _3\"></span>eir p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. <span class=\"_ _154\"> </span>T<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any d<span class=\"_ _3\"></span>evelo<span class=\"_ _3\"></span>ps it<span class=\"_ _3\"></span>s es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate of cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses by t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span> of bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>ess a<span class=\"_ _3\"></span>nd cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe, n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of days ov<span class=\"_ _3\"></span>erdu<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d his<span class=\"_ _3\"></span>toric<span class=\"_ _3\"></span>al lo<span class=\"_ _3\"></span>ss ra<span class=\"_ _3\"></span>tes whi<span class=\"_ _3\"></span>ch are th<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>les t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re jud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d to have a hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an no<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>al ris<span class=\"_ _3\"></span>k profi<span class=\"_ _3\"></span>le af<span class=\"_ _3\"></span>ter t<span class=\"_ _3\"></span>ak<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nto accou<span class=\"_ _3\"></span>nt man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s in<span class=\"_ _3\"></span>tern<span class=\"_ _3\"></span>al credit a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as ma<span class=\"_ _3\"></span>cro<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>eco<span class=\"_ _3\"></span>nom<span class=\"_ _3\"></span>ic a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ndu<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>reove<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y had a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reach<span class=\"_ _3\"></span>ed e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans w<span class=\"_ _3\"></span>ith so<span class=\"_ _3\"></span>me of it<span class=\"_ _3\"></span>s cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ave b<span class=\"_ _3\"></span>een h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he remaini<span class=\"_ _0\"></span>ng over<span class=\"_ _0\"></span>due balances wi<span class=\"_ _0\"></span>th its ci<span class=\"_ _0\"></span>nema cust<span class=\"_ _0\"></span>omers per 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>re lim<span class=\"_ _3\"></span>ited an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g extended pa<span class=\"_ _0\"></span>yments plans are<span class=\"_ _0\"></span> being honored. <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 31, 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any s<span class=\"_ _3\"></span>et up a li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on for cu<span class=\"_ _3\"></span>rrent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted credi<span class=\"_ _3\"></span>t loss<span class=\"_ _3\"></span>es (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2021: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro prof<span class=\"_ _3\"></span>it) ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ng a low<span class=\"_ _3\"></span>er cred<span class=\"_ _3\"></span>it ri<span class=\"_ _3\"></span>sk of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. The e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on rec<span class=\"_ _0\"></span>orded i<span class=\"_ _0\"></span>n 20<span class=\"_ _0\"></span>20 (1.5 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span>) re<span class=\"_ _0\"></span>flected<span class=\"_ _0\"></span> a reduction<span class=\"_ _0\"></span> in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cin<span class=\"_ _3\"></span>ema cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le as a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he covi<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. Acco<span class=\"_ _0\"></span>unting t<span class=\"_ _0\"></span>reatment<span class=\"_ _0\"></span> of dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesSh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ter li<span class=\"_ _3\"></span>fe cycle<span class=\"_ _3\"></span>s, u<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>redi<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f whi<span class=\"_ _3\"></span>ch de<span class=\"_ _3\"></span>velo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ec<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e su<span class=\"_ _3\"></span>ccess<span class=\"_ _3\"></span>fu<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e vol<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of te<span class=\"_ _3\"></span>chn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es (mo<span class=\"_ _3\"></span>re an<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt) a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tes led t<span class=\"_ _3\"></span>he B<span class=\"_ _3\"></span>oard of D<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s to conclu<span class=\"_ _3\"></span>de th<span class=\"_ _3\"></span>at Ba<span class=\"_ _3\"></span>rco\u2019s deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses d<span class=\"_ _3\"></span>o not m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57<span class=\"_ _0\"></span>. As<span class=\"_ _3\"></span> the cr<span class=\"_ _3\"></span>iteri<span class=\"_ _3\"></span>a of IA<span class=\"_ _3\"></span>S3<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>57 are n<span class=\"_ _3\"></span>ot fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d, o<span class=\"_ _3\"></span>ur accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cy, wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>s not all<span class=\"_ _3\"></span>ow the c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s. Defined benefit<span class=\"_ _0\"></span> obligationsTh<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an (se<span class=\"_ _3\"></span>e note 19) an<span class=\"_ _3\"></span>d the p<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>re deter<span class=\"ls4 ws4\">-</span>mined us<span class=\"_ _0\"></span>ing actuarial<span class=\"_ _0\"></span> valuations. An<span class=\"_ _0\"></span> actuarial valu<span class=\"_ _0\"></span>ation inv<span class=\"_ _0\"></span>olves making v<span class=\"_ _0\"></span>arious assump<span class=\"_ _0\"></span>tions that<span class=\"_ _0\"></span> may di<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>fer fr<span class=\"_ _0\"></span>om actual<span class=\"_ _0\"></span> devel<span class=\"ls4 ws4\">-</span>op<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e deter<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion of the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate, f<span class=\"_ _3\"></span>uture s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rate<span class=\"_ _3\"></span>s and fut<span class=\"_ _3\"></span>ure pe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lexi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s invo<span class=\"_ _3\"></span>lved i<span class=\"_ _3\"></span>n the v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>nd it<span class=\"_ _3\"></span>s lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term n<span class=\"_ _3\"></span>ature, a d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is hig<span class=\"_ _3\"></span>hly s<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ve to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. All a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns are rev<span class=\"_ _3\"></span>iew<span class=\"_ _3\"></span>ed on re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date.1. Consolidated companies1.1 List of consolidated companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>Eur<span class=\"_ _3\"></span>ope<span class=\"_ _3\"></span>, Mi<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st a<span class=\"_ _3\"></span>nd Af<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>aBelgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco C<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>rdi<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n Ce<span class=\"_ _3\"></span>nter N<span class=\"_ _3\"></span>V<span class=\"_ _1b3\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco I<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>ated S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns NV<span class=\"_ _1b4\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _f4\"> </span><span class=\"lsde wsfb\">100</span></span>Belgium<span class=\"_ _10d\"> </span>Cinionic<span class=\"_ _0\"></span> bv<span class=\"_ _166\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ux<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1, 8<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0 Kor<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>jk B<span class=\"_ _3\"></span>ELGIU<span class=\"_ _3\"></span>M<span class=\"_ _12b\"> </span><span class=\"ls135 ws164\">80</span></span>Belgium<span class=\"_ _10d\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _1b5\"> </span>Be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>xpa<span class=\"_ _3\"></span>rk 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, 85<span class=\"_ _3\"></span>00 Ko<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk B<span class=\"_ _3\"></span>ELGI<span class=\"_ _3\"></span>UM<span class=\"_ _1b6\"> </span><span class=\"lse0 wsfd\">70</span></span>Franc<span class=\"_ _0\"></span>e<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco SA<span class=\"_ _3\"></span>S<span class=\"_ _3e\"> </span>17<span class=\"_ _1\"></span>7 aven<span class=\"_ _3\"></span>ue G<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>org<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s Cl\u00e9<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>, Im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le \u201c<span class=\"_ _3\"></span>Le Pl<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>n Ou<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u201d, 9200<span class=\"_ _3\"></span>0 Na<span class=\"_ _3\"></span>nter<span class=\"_ _3\"></span>re FR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>NCE<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>l Ro<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>s Gm<span class=\"_ _3\"></span>bH<span class=\"_ _192\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>hst<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Germany<span class=\"_ _cd\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H<span class=\"_ _f7\"> </span>G<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>chb<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>e 5 a, 762<span class=\"_ _3\"></span>29 Ka<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>ERM<span class=\"_ _3\"></span>AN<span class=\"_ _3\"></span>Y<span class=\"_ _1b8\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco S.<span class=\"_ _3\"></span>r.l.<span class=\"_ _1ba\"> </span>Vi<span class=\"_ _3\"></span>a Mo<span class=\"_ _3\"></span>nfe<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ato 7<span class=\"_ _0\"></span>, 20<span class=\"_ _3\"></span>09<span class=\"_ _3\"></span>4 Cor<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>co ITALY<span class=\"_ _128\"> </span><span class=\"lsde wsfb\">100</span></span>Italy<span class=\"_ _1b9\"> </span>F<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>M<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span> S<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>r.<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>.<span class=\"_ _1bb\"> </span><span class=\"ls4 ws4\">Vi<span class=\"_ _3\"></span>a Vi<span class=\"_ _3\"></span>tto<span class=\"_ _3\"></span>r Pi<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ni 6<span class=\"_ _3\"></span>, 201<span class=\"_ _3\"></span>24 Mil<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o ITALY<span class=\"_ _1bc\"> </span><span class=\"lsde wsfb\">100</span></span>Netherlands<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco B<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _1bd\"> </span>Zui<span class=\"_ _3\"></span>dp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>in 1<span class=\"_ _3\"></span>26, W<span class=\"_ _1\"></span>TC T<span class=\"_ _0\"></span>owe<span class=\"_ _3\"></span>r H, F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or 1<span class=\"_ _3\"></span>5, 107<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>V A<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>terd<span class=\"_ _3\"></span>am N<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>TH<span class=\"_ _3\"></span>ERL<span class=\"_ _1\"></span>AND<span class=\"_ _3\"></span>S<span class=\"_ _28\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Norway<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Fred<span class=\"_ _3\"></span>rik<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>S<span class=\"_ _13a\"> </span>Hab<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nvei<span class=\"_ _3\"></span>en 5<span class=\"_ _3\"></span>3, 16<span class=\"_ _3\"></span>30 G<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>le Fre<span class=\"_ _3\"></span>dri<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>ORWAY<span class=\"_ _ce\"> </span><span class=\"lsde wsfb\">100</span></span>Poland<span class=\"_ _180\"> </span><span class=\"ls4 ws4\">Barco S<span class=\"_ _3\"></span>p. z o.<span class=\"_ _3\"></span>o.<span class=\"_ _f6\"> </span>Ann<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>l 17<span class=\"_ _0\"></span>, 03<span class=\"_ _3\"></span>-2<span class=\"_ _3\"></span>36 War<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>w PO<span class=\"_ _3\"></span>L<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ND<span class=\"_ _1bf\"> </span><span class=\"lsde wsfb\">100</span></span>Russia<span class=\"_ _1b1\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s OO<span class=\"_ _3\"></span>O<span class=\"_ _1c0\"> </span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ice 1<span class=\"_ _3\"></span>, Fl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>r 3, Ko<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>yu<span class=\"_ _3\"></span>ka s<span class=\"_ _3\"></span>tr., 3, 1<span class=\"_ _3\"></span>2951<span class=\"_ _3\"></span>5 M<span class=\"_ _3\"></span>osco<span class=\"_ _3\"></span>w RUS<span class=\"_ _3\"></span>SIA<span class=\"_ _3\"></span>N FED<span class=\"_ _3\"></span>ER<span class=\"_ _3\"></span>ATIO<span class=\"_ _3\"></span>N<span class=\"_ _2d\"> </span><span class=\"lsde wsfb\">100</span></span>Saudi Arabia<span class=\"_ _14d\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco In<span class=\"_ _3\"></span>teg<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d So<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns S<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>di A<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ia fo<span class=\"_ _3\"></span>r Bus<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span>L<span class=\"_ _3\"></span>ays<span class=\"_ _3\"></span>en Va<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>y, King K<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>d Rd<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>O<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>ba R<span class=\"_ _3\"></span>d., P<span class=\"_ _3\"></span>lot 3<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>5, B<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng 3<span class=\"_ _3\"></span>3, 2n<span class=\"_ _3\"></span>d f<span class=\"_ _3\"></span>loo<span class=\"_ _3\"></span>r, Riy<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>h SAU<span class=\"_ _3\"></span>DI A<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AB<span class=\"_ _3\"></span>IA<span class=\"_ _147\"> </span><span class=\"lsde wsfb\">100</span></span>Spain<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _163\"> </span>Trave<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a de le<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ts 241, En<span class=\"_ _3\"></span>tlo<span class=\"_ _3\"></span>. 3a<span class=\"_ _3\"></span>, 08<span class=\"_ _3\"></span>028 Ba<span class=\"_ _3\"></span>rce<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>a SPAI<span class=\"_ _3\"></span>N<span class=\"_ _1c2\"> </span><span class=\"lsde wsfb\">100</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Sv<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>e AB<span class=\"_ _1c3\"> </span>c/o Gr<span class=\"_ _3\"></span>ant T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>nto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 22<span class=\"_ _3\"></span>30, 4<span class=\"_ _3\"></span>03 14 G\u00f6<span class=\"_ _3\"></span>teb<span class=\"_ _3\"></span>org S<span class=\"_ _3\"></span>WED<span class=\"_ _3\"></span>EN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n AB<span class=\"_ _19f\"> </span>c/o G<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt T<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rnto<span class=\"_ _3\"></span>n, B<span class=\"_ _3\"></span>ox 2<span class=\"_ _3\"></span>230<span class=\"_ _3\"></span>, 403 14 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rg SW<span class=\"_ _3\"></span>EDEN<span class=\"_ _f3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Swed<span class=\"_ _3\"></span>en<span class=\"_ _183\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco A<span class=\"_ _3\"></span>B<span class=\"_ _1c4\"> </span>Kun<span class=\"_ _3\"></span>gsg<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>an 4<span class=\"_ _3\"></span>, 411 1<span class=\"_ _3\"></span>9 G<span class=\"_ _3\"></span>\u00f6teb<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>g SWED<span class=\"_ _3\"></span>EN<span class=\"_ _b4\"> </span><span class=\"lse0 wsfd\">70</span></span>United<span class=\"_ _0\"></span> Arab Emirat<span class=\"_ _0\"></span>es*<span class=\"_ _81\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Mid<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>le Ea<span class=\"_ _3\"></span>st L<span class=\"_ _3\"></span>.L<span class=\"_ _3\"></span>.C<span class=\"_ _3\"></span>.<span class=\"_ _196\"> </span>Con<span class=\"_ _3\"></span>cord Tower, Sui<span class=\"_ _3\"></span>te 12<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2, P<span class=\"_ _3\"></span>O Box 4<span class=\"_ _3\"></span>87<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>6, D<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>i Me<span class=\"_ _3\"></span>dia C<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y, Dub<span class=\"_ _3\"></span>ai U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED AR<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>B EMI<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>ATES<span class=\"_ _cb\"> </span><span class=\"ls10e ws12b\">49</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">B<span class=\"_ _3\"></span>arco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>Bui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 329, D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>le Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, RG1<span class=\"_ _3\"></span>2 8<span class=\"_ _3\"></span>PE B<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ckn<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l, B<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>re UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>OM<span class=\"_ _99\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>United<span class=\"_ _0\"></span> Kingdom<span class=\"_ _30\"> </span><span class=\"ls4 ws4\">G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco D<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus L<span class=\"_ _3\"></span>td.<span class=\"_ _1a9\"> </span>24 Ol<span class=\"_ _3\"></span>d Q<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>en St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, S<span class=\"_ _3\"></span>W1H 9<span class=\"_ _3\"></span>HP Lo<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>n UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED KI<span class=\"_ _3\"></span>NG<span class=\"_ _3\"></span>DO<span class=\"_ _3\"></span>M<span class=\"_ _1c5\"> </span><span class=\"lse0 wsfd\">70</span></span>(*) <span class=\"_ _8\"> </span>B<span class=\"_ _3\"></span>arc<span class=\"_ _3\"></span>o has co<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>rol o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>he r<span class=\"_ _3\"></span>ele<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>f th<span class=\"_ _3\"></span>e ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y by v<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f a con<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l a<span class=\"_ _3\"></span>gre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t wit<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e lo<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l in<span class=\"_ _3\"></span>ves<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>r.Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasBrazi<span class=\"_ _3\"></span>l<span class=\"_ _1c1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd<span class=\"_ _3\"></span>..<span class=\"_ _1c6\"> </span>Av. Ibi<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>pu<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>a, 2<span class=\"_ _3\"></span>332<span class=\"_ _3\"></span>, 8<span class=\"_ _3\"></span>\u00b0 an<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>r, conj 82, Torre I<span class=\"_ _3\"></span>I, M<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>, 0<span class=\"_ _3\"></span>4028<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>02 S<span class=\"_ _3\"></span>\u00e3o P<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>lo B<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>ZIL<span class=\"_ _117\"> </span><span class=\"lsde wsfb\">100</span></span>Canada<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">MT<span class=\"_ _1\"></span>T Inn<span class=\"_ _3\"></span>ov<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>d<span class=\"_ _1c8\"> </span>Su<span class=\"_ _3\"></span>ite 2400<span class=\"_ _3\"></span>, 7<span class=\"_ _0\"></span>45 T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>low St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, V6<span class=\"_ _3\"></span>E 0C<span class=\"_ _3\"></span>5 Van<span class=\"_ _3\"></span>cou<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>r, BC CAN<span class=\"_ _3\"></span>AD<span class=\"_ _3\"></span>A<span class=\"_ _b1\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Colombia<span class=\"_ _a6\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ia S<span class=\"_ _3\"></span>AS<span class=\"_ _1c9\"> </span>Ca<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>ra 1<span class=\"_ _3\"></span>5, n\u00b0 8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4, Torre Zi<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>a Of<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>na 610<span class=\"_ _3\"></span>, 110<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>1 Bo<span class=\"_ _3\"></span>go<span class=\"_ _3\"></span>ta COLOM<span class=\"_ _3\"></span>BI<span class=\"_ _3\"></span>A<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l S<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _9a\"> </span>Ma<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>o Es<span class=\"_ _3\"></span>cob<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>o No<span class=\"_ _3\"></span>. 476 Piso 10 C<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>. An<span class=\"_ _3\"></span>zure<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, C.<span class=\"_ _3\"></span>P<span class=\"_ _0\"></span>. 1<span class=\"_ _3\"></span>159<span class=\"_ _3\"></span>0 D.<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>. M\u00e9<span class=\"_ _3\"></span>xico M<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>XI<span class=\"_ _3\"></span>CO<span class=\"_ _118\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span>Me<span class=\"_ _3\"></span>xico<span class=\"_ _1ca\"> </span>Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ni<span class=\"_ _3\"></span>c Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>. d<span class=\"_ _3\"></span>e C.V.<span class=\"_ _1cb\"> </span>Ar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>o de<span class=\"_ _3\"></span>l Vall<span class=\"_ _3\"></span>e Ar<span class=\"_ _3\"></span>izp<span class=\"_ _3\"></span>e 16, 2<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>o pis<span class=\"_ _3\"></span>o, Co<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>l Val<span class=\"_ _3\"></span>le, CP 0310<span class=\"_ _3\"></span>0 Ne<span class=\"_ _3\"></span>w Me<span class=\"_ _3\"></span>xi<span class=\"_ _3\"></span>co cit<span class=\"_ _3\"></span>y (CD<span class=\"_ _3\"></span>MX<span class=\"_ _3\"></span>) ME<span class=\"_ _3\"></span>X<span class=\"_ _3\"></span>ICO<span class=\"_ _8f\"> </span><span class=\"ls135 ws164\">80</span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco, In<span class=\"_ _3\"></span>c.<span class=\"_ _1c6\"> </span>120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>e Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, 19<span class=\"_ _3\"></span>801 W<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n DE U<span class=\"_ _3\"></span>NI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cc\"> </span><span class=\"lsde wsfb\">100</span></span>United<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span>Cinionic<span class=\"_ _0\"></span> Inc.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>108<span class=\"_ _3\"></span>0 Whi<span class=\"_ _3\"></span>te Ro<span class=\"_ _3\"></span>ck Roa<span class=\"_ _3\"></span>d, S<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>te 100<span class=\"_ _3\"></span>, 956<span class=\"_ _3\"></span>70 Ran<span class=\"_ _3\"></span>ch<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>rdov<span class=\"_ _3\"></span>a C<span class=\"_ _3\"></span>A UNI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>ATES<span class=\"_ _1cd\"> </span><span class=\"ls135 ws164\">80</span></span>Asia-Pa<span class=\"_ _3\"></span>cificAustralia<span class=\"_ _dc\"> </span><span class=\"ls4 ws4\">Barco Sys<span class=\"_ _3\"></span>tem<span class=\"_ _3\"></span>s P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Ltd.<span class=\"_ _17b\"> </span>2 Roc<span class=\"_ _3\"></span>kle<span class=\"_ _3\"></span>a Dr<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>, VI<span class=\"_ _3\"></span>C 3207 Po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Me<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _1ce\"> </span><span class=\"lsde wsfb\">100</span></span>Australia<span class=\"_ _dc\"> </span>C<span class=\"_ _0\"></span>inionic Pt<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _1c3\"> </span><span class=\"ls4 ws4\">C/- Accru M<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>lb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>e Pt<span class=\"_ _3\"></span>y L<span class=\"_ _3\"></span>td. 5<span class=\"_ _3\"></span>0 Ca<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>l Roa<span class=\"_ _3\"></span>d, V<span class=\"_ _3\"></span>IC 31<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3 Haw<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rn E<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t AUS<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>R<span class=\"_ _3\"></span>AL<span class=\"_ _3\"></span>IA<span class=\"_ _dd\"> </span><span class=\"ls135 ws164\">80</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Tradi<span class=\"_ _3\"></span>ng (<span class=\"_ _3\"></span>Sha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>gha<span class=\"_ _3\"></span>i) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1cd\"> </span>Ro<span class=\"_ _3\"></span>om 702<span class=\"_ _3\"></span>, No<span class=\"_ _3\"></span>. 13<span class=\"_ _3\"></span>8, Fe<span class=\"_ _3\"></span>nya<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, 20<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>031 Sh<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>ai CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _159\"> </span><span class=\"lsde wsfb\">100</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _117\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>d, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>n Cun S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ce Par<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 1022<span class=\"_ _3\"></span>00 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _60\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span>Barco V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _1cf\"> </span><span class=\"ls105\">No. 16 C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ngs<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Roa<span class=\"_ _3\"></span>d, C<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng Pi<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Zho<span class=\"_ _3\"></span>ng G<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>an Cu<span class=\"_ _3\"></span>n Sc<span class=\"_ _3\"></span>ien<span class=\"_ _3\"></span>ce Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>g Pi<span class=\"_ _3\"></span>ng D<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t, 102<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0 Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g CHI<span class=\"_ _3\"></span>NA<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>a Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic V<span class=\"_ _3\"></span>isu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>iza<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y (N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>jin<span class=\"_ _3\"></span>g) Co<span class=\"_ _3\"></span>., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _c6\"> </span>No. 1<span class=\"_ _3\"></span>, H<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t zon<span class=\"_ _3\"></span>e, 210<span class=\"_ _3\"></span>038 N<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Ji<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gs<span class=\"_ _3\"></span>u CHIN<span class=\"_ _3\"></span>A<span class=\"_ _19b\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou) H<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>lth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re Techn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1d0\"> </span>No. 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, Su<span class=\"_ _3\"></span>ton<span class=\"_ _3\"></span>g Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Suz<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>u In<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>l Pa<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>, 2<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>021 S<span class=\"_ _3\"></span>uzh<span class=\"_ _3\"></span>ou CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _182\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>China<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">Barco (<span class=\"_ _3\"></span>Wux<span class=\"_ _3\"></span>i) Techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>y Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _102\"> </span>B31<span class=\"_ _3\"></span>2-10<span class=\"_ _3\"></span>9, No. 3<span class=\"_ _3\"></span>, Fen<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>wei R<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>d, H<span class=\"_ _3\"></span>uiz<span class=\"_ _3\"></span>hi Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, Xisha<span class=\"_ _3\"></span>n d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent zo<span class=\"_ _3\"></span>ne, 2<span class=\"_ _3\"></span>14101 Wuxi C<span class=\"_ _3\"></span>HIN<span class=\"_ _3\"></span>A<span class=\"_ _1aa\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Ltd.<span class=\"_ _1bd\"> </span>Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwun Tong<span class=\"_ _3\"></span>, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Vi<span class=\"_ _3\"></span>sua<span class=\"_ _3\"></span>l Ele<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co<span class=\"_ _3\"></span>., Ltd.<span class=\"_ _109\"> </span>S<span class=\"_ _3\"></span>uite 26<span class=\"_ _3\"></span>07-2610, 26/F<span class=\"_ _0\"></span>, P<span class=\"_ _3\"></span>rosp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>r, 25 Chon<span class=\"_ _3\"></span>g Y<span class=\"_ _3\"></span>ip St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, Kw<span class=\"_ _3\"></span>un T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g, Kow<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>on H<span class=\"_ _3\"></span>ON<span class=\"_ _3\"></span>G KON<span class=\"_ _3\"></span>G<span class=\"_ _1b0\"> </span><span class=\"lsde wsfb\">100</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Chi<span class=\"_ _3\"></span>na (<span class=\"_ _3\"></span>Ho<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>) Ltd.<span class=\"_ _1d2\"> </span>Su<span class=\"_ _3\"></span>ite 2607-2610, 2<span class=\"_ _3\"></span>6/F<span class=\"_ _0\"></span>, Pro<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y Ce<span class=\"_ _3\"></span>nter, 25 Ch<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>N<span class=\"_ _3\"></span>G<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Hong K<span class=\"_ _0\"></span>ong<span class=\"_ _1d1\"> </span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _ef\"> </span><span class=\"ls4 ws4\">Sui<span class=\"_ _3\"></span>te 2607-2610, 26/<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, Pros<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y Cen<span class=\"_ _3\"></span>ter, 25 Cho<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>g Yi<span class=\"_ _3\"></span>p Stre<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>, Kwu<span class=\"_ _3\"></span>n T<span class=\"_ _0\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>, Kowl<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>n HO<span class=\"_ _3\"></span>NG KO<span class=\"_ _3\"></span>NG<span class=\"_ _d0\"> </span><span class=\"ls135 ws164\">80</span></span>India<span class=\"_ _1d3\"> </span>Ba<span class=\"_ _3\"></span>rco Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic Sy<span class=\"_ _3\"></span>ste<span class=\"_ _3\"></span>ms P<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Ltd.<span class=\"_ _1cd\"> </span><span class=\"ls134\">c/o Per<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct A<span class=\"_ _3\"></span>ccou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g &amp; Sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>d Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces P<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>Ltd<span class=\"_ _3\"></span>., E-20, 1<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t &amp; 2nd F<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>or, Mai<span class=\"_ _3\"></span>n Ma<span class=\"_ _3\"></span>rke<span class=\"_ _3\"></span>t, H<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>z Kha<span class=\"_ _3\"></span>s, 1<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>016 N<span class=\"_ _3\"></span>ew D<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>hi IN<span class=\"_ _3\"></span>DI<span class=\"_ _3\"></span>A<span class=\"_ _e6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Japan<span class=\"_ _1d4\"> </span><span class=\"ls4 ws4\">Ba<span class=\"_ _3\"></span>rco Co., Ltd<span class=\"_ _3\"></span>.<span class=\"_ _121\"> </span>Yama<span class=\"_ _3\"></span>to Inte<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l Bld<span class=\"_ _3\"></span>g 8<span class=\"_ _3\"></span>F<span class=\"_ _0\"></span>, 5<span class=\"_ _3\"></span>-1-1 He<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>aj<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>a, O<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ku<span class=\"_ _3\"></span>, 143-<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>ky<span class=\"_ _3\"></span>o JAPAN<span class=\"_ _a0\"> </span><span class=\"lsde wsfb\">100</span></span>Malaysia<span class=\"_ _dc\"> </span>B<span class=\"_ _3\"></span>arco S<span class=\"_ _3\"></span>dn<span class=\"_ _3\"></span>. Bh<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>.<span class=\"_ _193\"> </span><span class=\"lsda wsf7\">No. 13A, Jalan SS21/5<span class=\"_ _0\"></span>6B, Damansara Utama,<span class=\"_ _0\"></span> 47<span class=\"_ _0\"></span>400 Pe<span class=\"_ _0\"></span>taling Jaya,<span class=\"_ _0\"></span> Selangor MAL<span class=\"_ _3\"></span>AY<span class=\"_ _0\"></span>SIA<span class=\"_ _dc\"> </span><span class=\"lsde wsfb\">100</span></span>Sin<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>re<span class=\"_ _a6\"> </span>Barco Si<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ore P<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>te Lim<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>d<span class=\"_ _2d\"> </span><span class=\"lsda wsf7\">100G Pasir<span class=\"_ _0\"></span> Panjang Road<span class=\"_ _0\"></span> Interlocal<span class=\"_ _0\"></span> Center<span class=\"_ _0\"></span>, 1185<span class=\"_ _0\"></span>23 Singapore<span class=\"_ _0\"></span> SINGAP<span class=\"_ _3\"></span>ORE<span class=\"_ _18d\"> </span><span class=\"lsde wsfb\">100</span></span>South K<span class=\"_ _0\"></span>orea<span class=\"_ _1d5\"> </span>Ba<span class=\"_ _3\"></span>rco Kore<span class=\"_ _3\"></span>a Ltd.<span class=\"_ _159\"> </span><span class=\"ls1aa\">1F<span class=\"_ _0\"></span>. &amp; 3F<span class=\"_ _0\"></span>., D<span class=\"_ _3\"></span>S T<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>er, 72-1<span class=\"_ _3\"></span>3 (Gw<span class=\"_ _3\"></span>anY<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g), B<span class=\"_ _3\"></span>oe<span class=\"_ _3\"></span>lM<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Ro, D<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>An<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>Gu<span class=\"_ _3\"></span>, Gye<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>gG<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>D<span class=\"_ _3\"></span>o, 1405<span class=\"_ _3\"></span>8 AnYang<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>si KOR<span class=\"_ _3\"></span>E<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, REP<span class=\"_ _3\"></span>UB<span class=\"_ _3\"></span>LI<span class=\"_ _3\"></span>C OF<span class=\"_ _55\"> </span><span class=\"lsde wsfb\">100</span></span>Ta<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>w<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>n<span class=\"_ _188\"> </span><span class=\"ls4 ws4\">Barco Ltd<span class=\"_ _3\"></span>.<span class=\"_ _1bd\"> </span>33F<span class=\"_ _0\"></span>., N<span class=\"_ _3\"></span>o. 16, X<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>zha<span class=\"_ _3\"></span>n Rd<span class=\"_ _3\"></span>., Ba<span class=\"_ _3\"></span>nq<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>o Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>., 22<span class=\"_ _3\"></span>0 New Taip<span class=\"_ _3\"></span>ei Ci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y T<span class=\"_ _0\"></span>A<span class=\"_ _3\"></span>IWAN<span class=\"_ _3\"></span>, PR<span class=\"_ _3\"></span>OVI<span class=\"_ _3\"></span>NCE O<span class=\"_ _3\"></span>F CHI<span class=\"_ _3\"></span>NA<span class=\"_ _1d6\"> </span><span class=\"lsde wsfb\">100</span></span>1.2 List of equity accounted companies on 31 December 2022Country of<span class=\"_ _0\"></span> Incorporation<span class=\"_ _b9\"> </span>Leg<span class=\"_ _3\"></span>al Ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _ef\"> </span><span class=\"ls48 ws55\">Registered<span class=\"_ _0\"></span> Of<span class=\"_ _3\"></span>fice<span class=\"_ _1b2\"> </span><span class=\"ls4 ws4\">%</span></span>AmericasUnited<span class=\"_ _0\"></span> States<span class=\"_ _c9\"> </span><span class=\"ls4 ws4\">CCO Barco A<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Vent<span class=\"_ _3\"></span>ure LLC<span class=\"_ _1d7\"> </span>Cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on Trus<span class=\"_ _3\"></span>t Cente<span class=\"_ _3\"></span>r, 120<span class=\"_ _3\"></span>9 Or<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge St<span class=\"_ _3\"></span>ree<span class=\"_ _3\"></span>t, 1<span class=\"_ _3\"></span>98<span class=\"_ _3\"></span>01 Wi<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gto<span class=\"_ _3\"></span>n (D<span class=\"_ _3\"></span>E) UN<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>ED S<span class=\"_ _3\"></span>TA<span class=\"_ _0\"></span>TE<span class=\"_ _3\"></span>S<span class=\"_ _1c7\"> </span><span class=\"ls89 wsa4\">35</span></span>Asia-Pa<span class=\"_ _3\"></span>cificChina<span class=\"_ _19b\"> </span><span class=\"ls4 ws4\">CFG Barco (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>ij<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g) Ele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ron<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s Co.<span class=\"_ _3\"></span>, Ltd.<span class=\"_ _18f\"> </span>N<span class=\"_ _3\"></span>o. 16 Ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gsh<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>ng Ro<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>, Zh<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g G<span class=\"_ _3\"></span>uan C<span class=\"_ _3\"></span>un S<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nce P<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>k<span class=\"_ _3\"></span>, Cha<span class=\"_ _3\"></span>ng P<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Di<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>, 10220<span class=\"_ _3\"></span>0 B<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ji<span class=\"_ _3\"></span>ng CH<span class=\"_ _3\"></span>IN<span class=\"_ _3\"></span>A<span class=\"_ _62\"> </span><span class=\"ls10e ws12b\">49</span></span>Exemption<span class=\"_ _0\"></span> of publishing financ<span class=\"_ _0\"></span>ial statemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and management<span class=\"_ _0\"></span> repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t accord<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ge<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>an le<span class=\"_ _3\"></span>gisl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on \u00a726<span class=\"_ _3\"></span>4 Ab<span class=\"_ _3\"></span>s. 3 H<span class=\"_ _3\"></span>GB:Foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y-<span class=\"_ _1\"></span>comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e rele<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d of pu<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ishi<span class=\"_ _3\"></span>ng their financi<span class=\"_ _0\"></span>al statements and<span class=\"_ _0\"></span> management report 20<span class=\"_ _0\"></span>22:\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>rco G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>H\u2022 <span class=\"_ _141\"> </span>B<span class=\"_ _3\"></span>arco Contro<span class=\"_ _3\"></span>l Roo<span class=\"_ _3\"></span>ms G<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>HTh<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ani<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>re inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he cons<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>idat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n scop<span class=\"_ _3\"></span>e of Barco Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ated 2022 as l<span class=\"_ _3\"></span>isted a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ve.In 2022 G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uted s<span class=\"_ _3\"></span>ix mo<span class=\"_ _3\"></span>nth<span class=\"_ _3\"></span>s of tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r (0.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) to the tota<span class=\"_ _3\"></span>l tur<span class=\"_ _3\"></span>nove<span class=\"_ _3\"></span>r of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p, tho<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>h in it<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>up p<span class=\"_ _3\"></span>has<span class=\"_ _3\"></span>e not yet co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to EBIT<span class=\"_ _3\"></span>DA (-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n e<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>).If th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>d take<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ace at t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>inn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g of th<span class=\"_ _3\"></span>e year, the tot<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over w<span class=\"_ _3\"></span>oul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro and t<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA los<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od wo<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>d have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. T<span class=\"_ _0\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on cost<span class=\"_ _3\"></span>s of 0.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro have be<span class=\"_ _3\"></span>en ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d are in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n adm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>istr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t of prof<span class=\"_ _3\"></span>it or los<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d are pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws in th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt of ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ows<span class=\"_ _3\"></span>.The foll<span class=\"_ _0\"></span>owing table summari<span class=\"_ _0\"></span>zes t<span class=\"_ _0\"></span>he considerat<span class=\"_ _0\"></span>ion paid for<span class=\"_ _0\"></span> Gn<span class=\"_ _3\"></span>osco an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span> ass<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>d reco<span class=\"_ _3\"></span>gnized at t<span class=\"_ _3\"></span>he acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n date. T<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ce bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n pa<span class=\"_ _3\"></span>id, t<span class=\"_ _3\"></span>he u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>yin<span class=\"_ _3\"></span>g net a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts is rela<span class=\"_ _3\"></span>ted to futu<span class=\"_ _3\"></span>re cas<span class=\"_ _3\"></span>h flow<span class=\"_ _3\"></span>s Barco ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s to realize bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e of se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces prov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ed by D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>micu<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e tele<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>atol<span class=\"_ _3\"></span><span class=\"ws4\">-</span>og<span class=\"_ _3\"></span>y pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm for d<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>gno<span class=\"_ _3\"></span>sis of sk<span class=\"_ _3\"></span>in ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, wo<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er skin lesions.2022Acquisition o<span class=\"_ _0\"></span>f Gnosco ABIn ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo team<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l fir<span class=\"_ _3\"></span>st co<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ine t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tise, g<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-m<span class=\"_ _3\"></span>ar<span class=\"ls4 ws4\">-</span>ket cap<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s and i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>led b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>e pat<span class=\"_ _3\"></span>h to comm<span class=\"_ _3\"></span>ercia<span class=\"_ _3\"></span>l succes<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing a j<span class=\"_ _3\"></span>oint te<span class=\"_ _3\"></span>led<span class=\"_ _3\"></span>erm<span class=\"_ _3\"></span>atolo<span class=\"_ _3\"></span>gy a<span class=\"_ _3\"></span>nd telewo<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d ca<span class=\"_ _3\"></span>re road<span class=\"_ _3\"></span>map b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on h<span class=\"_ _3\"></span>igh q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y, affo<span class=\"_ _3\"></span>rdab<span class=\"_ _3\"></span>le ski<span class=\"_ _3\"></span>n solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Barco acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d 70% of the sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive con<span class=\"_ _3\"></span>trol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Ju<span class=\"_ _3\"></span>ly 2022, t<span class=\"_ _3\"></span>he Gn<span class=\"_ _3\"></span>osco f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res are t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Grou<span class=\"_ _3\"></span>p from 1 J<span class=\"_ _3\"></span>uly, 2022 onw<span class=\"_ _3\"></span>ards<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is record<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset (acqu<span class=\"_ _3\"></span>ired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how) o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Ba<span class=\"_ _3\"></span>rco Conso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated B<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce Sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich wi<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>e amo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized ove<span class=\"_ _3\"></span>r 5 year<span class=\"_ _3\"></span>s.A fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s was reco<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>d for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uros. S<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 15 for<span class=\"_ _0\"></span> more in<span class=\"_ _0\"></span>formation.1.3 Acquisitions and divestmentsAssets and Liabilities Gnosco ABIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1d8\"> </span>1 Ju<span class=\"_ _3\"></span>ly 2022Fair va<span class=\"_ _3\"></span>lue IFR<span class=\"_ _3\"></span>S <span class=\"_ _21\"></span> Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/Srestat<span class=\"_ _0\"></span>ementsOp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g B/SCapitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment<span class=\"_ _160\"> </span>354<span class=\"_ _1a4\"> </span><span class=\"lsf5 ws112\">-35<span class=\"_ _3\"></span>4<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-</span></span>Know<span class=\"_ _3\"></span>-h<span class=\"_ _3\"></span>ow<span class=\"_ _1d9\"> </span>0<span class=\"_ _60\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _71\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>7</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1da\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls191 ws255\">73<span class=\"_ _de\"> </span>73</span>T<span class=\"_ _0\"></span>otal non-current asset<span class=\"_ _3\"></span>s<span class=\"_ _1db\"> </span>354<span class=\"_ _6e\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>6<span class=\"_ _70\"> </span>7,<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"> </span>0</span>T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _15d\"> </span><span class=\"ls3c ws48\">29<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>29</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _1dd\"> </span><span class=\"ls19b ws270\">12<span class=\"_ _1dc\"> </span></span>-<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">12</span>T<span class=\"_ _0\"></span>otal current assets<span class=\"_ _156\"> </span><span class=\"ls109 ws126\">40<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span></span>40</span>LT<span class=\"_ _3\"></span> l<span class=\"_ _3\"></span>o<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>n<span class=\"_ _1de\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _3\"></span>2<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-1<span class=\"_ _3\"></span>72</span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y<span class=\"_ _1df\"> </span>-<span class=\"_ _54\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>7<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>67</span>T<span class=\"_ _0\"></span>otal non-current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1b6\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _9c\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9</span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _85\"> </span><span class=\"ls106 ws123\">-170<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _62\"> </span></span>-170</span>T<span class=\"_ _0\"></span>otal current liabiliti<span class=\"_ _3\"></span>es<span class=\"_ _1e0\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1a4\"> </span></span>-1<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0</span>Cash<span class=\"_ _1e1\"> </span><span class=\"ls10b ws128\">237<span class=\"_ _a5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span></span>237</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>et a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts<span class=\"_ _1e2\"> </span>289<span class=\"_ _70\"> </span><span class=\"ls138 ws167\">5,759<span class=\"_ _94\"> </span><span class=\"ls131 ws161\">6<span class=\"_ _3\"></span>,048</span></span>Upfron<span class=\"_ _0\"></span>t conside<span class=\"_ _0\"></span>ration<span class=\"_ _1e3\"> </span><span class=\"ls191 ws255\">4,000</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on c<span class=\"_ _3\"></span>ost (e<span class=\"_ _3\"></span>xcl<span class=\"_ _3\"></span>. ne<span class=\"_ _3\"></span>t ca<span class=\"_ _3\"></span>sh)<span class=\"_ _1e4\"> </span><span class=\"ls10a ws127\">4,000</span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ated to p<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"lsfb ws118\">2,04<span class=\"_ _3\"></span>8</span>Ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low on a<span class=\"_ _3\"></span>cq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on<span class=\"_ _1e5\"> </span><span class=\"ff1 fc0\">1 Ju<span class=\"_ _3\"></span>ly 2022</span>Net c<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h acq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>red w<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>h th<span class=\"_ _3\"></span>e sub<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1e6\"> </span><span class=\"ls3c ws48\">237</span>Cash paid<span class=\"_ _1e7\"> </span><span class=\"ls10a ws127\">-4,000</span>Net cash<span class=\"_ _0\"></span> flow on acquisit<span class=\"_ _0\"></span>ion<span class=\"_ _1e8\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n accou<span class=\"_ _3\"></span>nted for u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion method c<span class=\"_ _0\"></span>onform<span class=\"_ _0\"></span> IFRS3<span class=\"_ _0\"></span> Business C<span class=\"_ _0\"></span>ombinations.We refer to note 23 'C<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt: ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of acq<span class=\"_ _3\"></span>uis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d disp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s' for imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh f<span class=\"_ _3\"></span>low of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup.2021 - 20<span class=\"_ _0\"></span>20Barc<span class=\"_ _0\"></span>o did not<span class=\"_ _0\"></span> close an<span class=\"_ _0\"></span>y acquisi<span class=\"_ _0\"></span>tion or divestment<span class=\"_ _0\"></span> agreements in 2021 a<span class=\"_ _3\"></span>nd 2020. 2. Operating Segments information2.1. Basis of operating segments information\u2022 <span class=\"_ _5e\"> </span>Healt<span class=\"_ _3\"></span>hca<span class=\"_ _3\"></span>re: Th<span class=\"_ _3\"></span>e Hea<span class=\"_ _3\"></span>lthc<span class=\"_ _3\"></span>are d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n com<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ses t<span class=\"_ _3\"></span>wo bu<span class=\"_ _3\"></span>si<span class=\"ls4 ws4\">-</span>nes<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>ts:  <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Diagnostic imaging<span class=\"_ _0\"></span> of<span class=\"_ _3\"></span>fers<span class=\"_ _0\"></span> an extensiv<span class=\"_ _0\"></span>e line-<span class=\"_ _3\"></span>up of<span class=\"_ _0\"></span> high<span class=\"_ _3\"></span>-pre<span class=\"ls4 ws4\">-</span>cisio<span class=\"_ _3\"></span>n me<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>lay s<span class=\"_ _3\"></span>ys<span class=\"_ _3\"></span>tems for di<span class=\"_ _3\"></span>scip<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>es in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g radiology<span class=\"_ _0\"></span>, mammography<span class=\"_ _0\"></span>, denti<span class=\"_ _0\"></span>str<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, pathology and c<span class=\"_ _0\"></span>linical revi<span class=\"_ _3\"></span>ew ima<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>, plu<span class=\"_ _3\"></span>s a ful<span class=\"_ _3\"></span>l suite of s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span>Surg<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d Mo<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y b<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ngs to<span class=\"_ _3\"></span>get<span class=\"_ _3\"></span>her t<span class=\"_ _1\"></span>wo act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wit<span class=\"_ _3\"></span>h great s<span class=\"_ _3\"></span>yn<span class=\"_ _3\"></span>erg<span class=\"_ _3\"></span>y pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l, a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>y ta<span class=\"_ _3\"></span>rget th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>ame e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>s<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs (of<span class=\"_ _3\"></span>ten o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng roo<span class=\"_ _3\"></span>ms) an<span class=\"_ _3\"></span>d req<span class=\"_ _3\"></span>uire th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me go<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>rket st<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>gy. The o<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng of t<span class=\"_ _3\"></span>his b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>it includes<span class=\"_ _0\"></span> the comp<span class=\"_ _0\"></span>any\u2019s dig<span class=\"_ _0\"></span>ital operating<span class=\"_ _0\"></span> room portfolio (ha<span class=\"_ _3\"></span>rdwa<span class=\"_ _3\"></span>re + vid<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-I<span class=\"_ _3\"></span>P-<span class=\"_ _3\"></span>techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy), cus<span class=\"_ _3\"></span>tom m<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l disp<span class=\"_ _3\"></span>lay<span class=\"_ _3\"></span>s for mo<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g and a f<span class=\"_ _3\"></span>ull s<span class=\"_ _3\"></span>uite of su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t services.\u2022 <span class=\"_ _5e\"> </span>Ent<span class=\"_ _0\"></span>erprise: The E<span class=\"_ _0\"></span>nterprise<span class=\"_ _0\"></span> division comprises two business<span class=\"_ _0\"></span> un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s: <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Meeting Experienc<span class=\"_ _0\"></span>e offers c<span class=\"_ _0\"></span>ollaboration and visual<span class=\"_ _0\"></span>ization techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>es for a s<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>t w<span class=\"_ _3\"></span>ork<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ace or le<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g env<span class=\"_ _3\"></span>iron<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ment:<span class=\"_ _0\"></span> ClickShare<span class=\"_ _0\"></span> wireless c<span class=\"_ _0\"></span>onfer<span class=\"_ _0\"></span>ence and pr<span class=\"_ _0\"></span>esentation<span class=\"_ _0\"></span> sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s, we<span class=\"_ _3\"></span>Con<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ct V<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>al Cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>room a<span class=\"_ _3\"></span>s wel<span class=\"_ _3\"></span>l as se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span>La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s of<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rs a pa<span class=\"_ _3\"></span>cka<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>olut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to he<span class=\"_ _3\"></span>lp con<span class=\"_ _0\"></span>trol r<span class=\"_ _0\"></span>oom operat<span class=\"_ _0\"></span>ors make<span class=\"_ _0\"></span> well-informed dec<span class=\"_ _0\"></span>isions<span class=\"_ _0\"></span>: video walls,<span class=\"_ _0\"></span> video wall c<span class=\"_ _0\"></span>ontrol<span class=\"_ _0\"></span>lers, con<span class=\"_ _0\"></span>trol r<span class=\"_ _0\"></span>oom software an<span class=\"_ _3\"></span>d a ful<span class=\"_ _3\"></span>l suite of s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>.Barc<span class=\"_ _0\"></span>o is<span class=\"_ _0\"></span> a global t<span class=\"_ _0\"></span>echnology c<span class=\"_ _0\"></span>ompany de<span class=\"_ _0\"></span>veloping sol<span class=\"_ _0\"></span>utions for th<span class=\"_ _3\"></span>ree ma<span class=\"_ _3\"></span>in ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch is al<span class=\"_ _3\"></span>so ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in it<span class=\"_ _3\"></span>s di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al structure<span class=\"_ _0\"></span>: Healthcar<span class=\"_ _0\"></span>e, En<span class=\"_ _0\"></span>terprise<span class=\"_ _0\"></span> and Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment.\u2022 <span class=\"_ _5e\"> </span><span class=\"ff5 lsa ws60\">En<span class=\"_ _0\"></span>tertainment: The E<span class=\"_ _0\"></span>ntertainment division c<span class=\"_ _0\"></span>omprises two </span>business units: <span class=\"_ _1e9\"></span><span class=\"ff7a\">-</span> <span class=\"_ _21\"></span>Cin<span class=\"_ _3\"></span>ema o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fers t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>str<span class=\"_ _1\"></span>y\u2019s m<span class=\"_ _3\"></span>ost co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>lete ran<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f las<span class=\"_ _3\"></span>er an<span class=\"_ _3\"></span>d lam<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma pro<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>o sol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco\u2019s cinema o<span class=\"_ _3\"></span>ffe<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g is mar<span class=\"_ _3\"></span>keted v<span class=\"_ _3\"></span>ia Ba<span class=\"_ _3\"></span>rco CFG (f<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r Chin<span class=\"_ _3\"></span>a) an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic (for res<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e wor<span class=\"_ _3\"></span>ld), wh<span class=\"_ _3\"></span>ich com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on tech<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>log<span class=\"_ _3\"></span>y with<span class=\"_ _0\"></span> cons<span class=\"_ _0\"></span>ultancy<span class=\"_ _0\"></span>, insta<span class=\"_ _0\"></span>llation,<span class=\"_ _0\"></span> financing,<span class=\"_ _0\"></span> monitor<span class=\"_ _0\"></span>ing and maint<span class=\"_ _0\"></span>enance services. <span class=\"_ _1e9\"></span><span class=\"ff7a\">-<span class=\"_ _13b\"> </span><span class=\"ff4 ls20 ws67\"> <span class=\"_ _21\"></span>The Immersiv<span class=\"_ _0\"></span>e Experience business<span class=\"_ _0\"></span> unit offers sol<span class=\"_ _0\"></span>utions </span></span>ta<span class=\"_ _3\"></span>ilo<span class=\"_ _3\"></span>red to th<span class=\"_ _3\"></span>e spe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s of la<span class=\"_ _3\"></span>rge ve<span class=\"_ _3\"></span>nue<span class=\"_ _3\"></span>s, l<span class=\"_ _3\"></span>ive eve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, the<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d ente<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent (m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>rks<span class=\"_ _3\"></span>, di<span class=\"_ _3\"></span>git<span class=\"_ _3\"></span>al immersive<span class=\"_ _0\"></span> ar<span class=\"_ _3\"></span>t installati<span class=\"_ _0\"></span>ons, projection mapping,<span class=\"_ _0\"></span> etc.<span class=\"_ _0\"></span>) and simulation applications: pr<span class=\"_ _0\"></span>oj<span class=\"_ _3\"></span>ection, image processing and relat<span class=\"_ _0\"></span>ed services.No o<span class=\"_ _3\"></span>per<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ag<span class=\"_ _3\"></span>greg<span class=\"_ _3\"></span>ated to form t<span class=\"_ _3\"></span>he above<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>table operating<span class=\"_ _0\"></span> segments.Th<span class=\"_ _3\"></span>e Bo<span class=\"_ _3\"></span>ard of di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>tors m<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>tor th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lts of e<span class=\"_ _3\"></span>ach of t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons s<span class=\"_ _3\"></span>epa<span class=\"_ _3\"></span>ratel<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, so a<span class=\"_ _3\"></span>s to make d<span class=\"_ _3\"></span>ecisi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut res<span class=\"_ _3\"></span>ource allocation<span class=\"_ _0\"></span> and per<span class=\"_ _3\"></span>formanc<span class=\"_ _0\"></span>e assessment and<span class=\"_ _0\"></span> consequentl<span class=\"_ _0\"></span>y,<span class=\"_ _0\"></span> the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns q<span class=\"_ _3\"></span>ual<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng seg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s do no<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>w simi<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic cha<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>cter<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s and do n<span class=\"_ _3\"></span>ot exh<span class=\"_ _3\"></span>ibit s<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>lar l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>man<span class=\"_ _3\"></span>ce, th<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>fore ca<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ot be a<span class=\"_ _3\"></span>gg<span class=\"_ _3\"></span>regate<span class=\"_ _3\"></span>d into rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. D<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ance is e<span class=\"_ _3\"></span>valu<span class=\"_ _3\"></span>ated ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>. G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing (inc<span class=\"_ _0\"></span>luding fi<span class=\"_ _0\"></span>nance c<span class=\"_ _0\"></span>osts and<span class=\"_ _0\"></span> finance<span class=\"_ _0\"></span> rev<span class=\"_ _0\"></span>enue)<span class=\"_ _0\"></span> and inc<span class=\"_ _0\"></span>ome ta<span class=\"_ _3\"></span>xes are m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d on a g<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>asis a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re not al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ated to the operating<span class=\"_ _0\"></span> divisions.Th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>dif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on in t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>re and t<span class=\"_ _3\"></span>he core lea<span class=\"_ _3\"></span>der<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p team in 202<span class=\"_ _3\"></span>1 ha<span class=\"_ _3\"></span>d no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the i<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>ntif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e op<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s.T<span class=\"_ _2\"></span>ransfer pric<span class=\"_ _0\"></span>es between operating segments<span class=\"_ _0\"></span> are on an<span class=\"_ _0\"></span> arm\u2019s length<span class=\"_ _0\"></span> basis in<span class=\"_ _0\"></span> a manner similar<span class=\"_ _0\"></span> to transactions<span class=\"_ _0\"></span> with thir<span class=\"_ _0\"></span>d parties<span class=\"_ _3\"></span>.We refer to \u2018<span class=\"fc2 lsa ws4b\">Our mark<span class=\"_ _0\"></span>ets<span class=\"fc0 lsd wse\">\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s </span></span>performed b<span class=\"_ _0\"></span>y each<span class=\"_ _0\"></span> division.2.2. HealthcareDr<span class=\"_ _3\"></span>iven b<span class=\"_ _3\"></span>y the g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>dua<span class=\"_ _3\"></span>l resu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of sp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g by Di<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>tic Imaging and Sur<span class=\"_ _0\"></span>gical cust<span class=\"_ _0\"></span>omers, the Healthcar<span class=\"_ _0\"></span>e division deliv<span class=\"ls4 ws4\">-</span>ered 31<span class=\"_ _3\"></span>% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. As a res<span class=\"_ _3\"></span>ult of pl<span class=\"_ _3\"></span>atfo<span class=\"_ _3\"></span>rm red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>r chal<span class=\"_ _3\"></span>len<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s asso<span class=\"_ _3\"></span>ciate<span class=\"_ _3\"></span>d with co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ponent shortages wer<span class=\"_ _0\"></span>e alle<span class=\"_ _0\"></span>viated<span class=\"_ _0\"></span> allowing f<span class=\"_ _0\"></span>or a r<span class=\"_ _0\"></span>esumption<span class=\"_ _0\"></span> of conve<span class=\"_ _3\"></span>ntio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l lea<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. EBIT<span class=\"_ _3\"></span>DA ma<span class=\"_ _3\"></span>rgin fo<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n reach<span class=\"_ _3\"></span>ed 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>, u<span class=\"_ _3\"></span>p 2.6 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s year-<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>r-year t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>nks to b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter gros<span class=\"_ _3\"></span>s marg<span class=\"_ _3\"></span>ins a<span class=\"_ _3\"></span>nd op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g leve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge. I<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roved gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin<span class=\"_ _3\"></span>s are resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom a bet<span class=\"_ _3\"></span>ter p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct m<span class=\"_ _3\"></span>ix a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>cing<span class=\"_ _3\"></span>, pa<span class=\"_ _3\"></span>ssi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le.Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk of sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture in 202<span class=\"_ _3\"></span>1 comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020 and 2022<span class=\"_ _3\"></span>, conce<span class=\"_ _3\"></span>rn th<span class=\"_ _3\"></span>e new b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y in Chi<span class=\"_ _3\"></span>na, Suzhou,<span class=\"_ _0\"></span> both fac<span class=\"_ _0\"></span>ility and producti<span class=\"_ _0\"></span>on (impact o<span class=\"_ _0\"></span>f 8 mill<span class=\"_ _0\"></span>ion euro<span class=\"_ _0\"></span> in 2021<span class=\"_ _3\"></span>). We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>341<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>1<span class=\"_ _51\"> </span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>86<span class=\"_ _51\"> </span></span>100<span class=\"_ _3\"></span>%<span class=\"_ _12e\"> </span><span class=\"ls10e ws12b\">261,<span class=\"_ _3\"></span>856<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">30.7%<span class=\"_ _39\"> </span>-0.1<span class=\"_ _3\"></span>%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _13e\"> </span>-225,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>0<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span><span class=\"lsef ws10c\">-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">-<span class=\"_ _3\"></span>66<span class=\"_ _3\"></span>.7%<span class=\"_ _12e\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span><span class=\"lsfc ws119\">29.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span></span></span></span></span></span>4<span class=\"_ _3\"></span>.9%</span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1ec\"> </span><span class=\"lse0 wsfd\">116<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>361<span class=\"_ _53\"> </span><span class=\"lsed ws10a\">34.<span class=\"_ _3\"></span>1%<span class=\"_ _c3\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">33.<span class=\"_ _3\"></span>3%<span class=\"_ _37\"> </span><span class=\"ls107 ws124\">9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>1<span class=\"_ _c2\"> </span><span class=\"ls4 ws4\">3<span class=\"_ _3\"></span>6.<span class=\"_ _3\"></span>6%<span class=\"_ _d8\"> </span></span></span></span></span></span>33<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">-8.<span class=\"_ _3\"></span>9%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12b\"> </span>38,35<span class=\"_ _3\"></span>4<span class=\"_ _148\"> </span><span class=\"lse9 ws106\">11<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _23\"> </span><span class=\"lsfe ws11b\">2<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>399<span class=\"_ _b9\"> </span><span class=\"ls4 ws4\">8.6%<span class=\"_ _23\"> </span><span class=\"lsde wsfb\">35<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>0<span class=\"_ _53\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%<span class=\"_ _39\"> </span></span></span></span>71.<span class=\"_ _3\"></span>2%<span class=\"_ _47\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1cb\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>76<span class=\"_ _c1\"> </span>3<span class=\"_ _3\"></span>.3%<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>75<span class=\"_ _c1\"> </span>4.<span class=\"_ _3\"></span>5%<span class=\"_ _37\"> </span>13,<span class=\"_ _3\"></span>362<span class=\"_ _147\"> </span><span class=\"ls139 ws168\">5.1%<span class=\"_ _38\"> </span>-5.1%<span class=\"_ _1ed\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.9%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1ee\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _b9\"> </span>8.<span class=\"_ _3\"></span>0%<span class=\"_ _df\"> </span>10,6<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span>4.1%<span class=\"_ _18c\"> </span><span class=\"ls3c ws48\">21,668<span class=\"_ _b8\"> </span></span>8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%<span class=\"_ _1ef\"> </span><span class=\"lsfb ws118\">155<span class=\"_ _3\"></span>.8%<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _17b\"> </span>6,<span class=\"_ _3\"></span>193<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.8%<span class=\"_ _d4\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>271<span class=\"_ _fe\"> </span></span>4.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span>3,<span class=\"_ _3\"></span>368<span class=\"_ _147\"> </span>1.3%<span class=\"_ _3b\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>49.<span class=\"_ _3\"></span>5%<span class=\"_ _49\"> </span>264<span class=\"_ _3\"></span>.4%</span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _165\"> </span>193,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span><span class=\"lsf9 ws116\">141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>0</span></span>Segment liabilities<span class=\"_ _3c\"> </span>74,717<span class=\"_ _1f1\"> </span><span class=\"lse7 ws104\">59,<span class=\"_ _3\"></span>88<span class=\"_ _3\"></span>2<span class=\"_ _1f1\"> </span>49,3<span class=\"_ _3\"></span>98</span>2.3. EnterpriseIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _79\"> </span>317<span class=\"_ _2\"></span>,250<span class=\"_ _51\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _194\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _4f\"> </span></span>100%<span class=\"_ _14e\"> </span><span class=\"lse0 wsfd\">2<span class=\"_ _3\"></span>16,<span class=\"_ _3\"></span>794<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _30\"> </span><span class=\"lse9 ws106\">36.<span class=\"_ _3\"></span>1%<span class=\"_ _1af\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>%</span></span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span>-45<span class=\"_ _3\"></span>.7%<span class=\"_ _e7\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c3\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>4%<span class=\"_ _14e\"> </span>-111,<span class=\"_ _0\"></span>60<span class=\"_ _0\"></span>1<span class=\"_ _c4\"> </span>-<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _90\"> </span><span class=\"lsf4 ws111\">16.4%<span class=\"_ _cb\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1f3\"> </span>172,328<span class=\"_ _d4\"> </span>54.<span class=\"_ _3\"></span>3%<span class=\"_ _4c\"> </span>10<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>561<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span>10<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>93<span class=\"_ _d4\"> </span>4<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%<span class=\"_ _d8\"> </span><span class=\"ls42 ws6f\">58<span class=\"_ _3\"></span>.7%<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">3.<span class=\"_ _3\"></span>2%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _12a\"> </span>60,609<span class=\"_ _98\"> </span>19.1<span class=\"_ _3\"></span>%<span class=\"_ _df\"> </span>14,6<span class=\"_ _3\"></span>45<span class=\"_ _b9\"> </span>6.<span class=\"_ _3\"></span>3%<span class=\"_ _23\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>6<span class=\"_ _b9\"> </span></span>8.<span class=\"_ _3\"></span>4%<span class=\"_ _1ef\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.9%<span class=\"_ _144\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1c\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _fe\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>8<span class=\"_ _89\"> </span></span>4.0%<span class=\"_ _df\"> </span>10<span class=\"_ _3\"></span>,033<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span>-<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.6%<span class=\"_ _90\"> </span><span class=\"lsdf wsfc\">-6<span class=\"_ _3\"></span>.2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1f5\"> </span>52,00<span class=\"_ _3\"></span>9<span class=\"_ _53\"> </span>16<span class=\"_ _3\"></span>.4%<span class=\"_ _4f\"> </span>5,<span class=\"_ _3\"></span>237<span class=\"_ _b8\"> </span><span class=\"lse9 ws106\">2<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>214<span class=\"_ _b9\"> </span><span class=\"ls133 ws162\">3.8%<span class=\"_ _1f6\"> </span><span class=\"lsdd wsfa\">893<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>0%<span class=\"_ _49\"> </span></span></span></span>-36.2%</span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _1f7\"> </span>4,015<span class=\"_ _1aa\"> </span>1.3%<span class=\"_ _98\"> </span>2<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1.2%<span class=\"_ _4f\"> </span>3,43<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%<span class=\"_ _30\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>8.4%<span class=\"_ _d3\"> </span><span class=\"lsfe ws11b\">-21<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b8\"> </span><span class=\"lse7 ws104\">13<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _95\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _1f8\"> </span>195,912<span class=\"_ _da\"> </span><span class=\"lsfe ws11b\">202,365<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>6</span></span>Segment liabilities<span class=\"_ _1f9\"> </span>75,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _140\"> </span><span class=\"ls131 ws161\">81<span class=\"_ _3\"></span>,053<span class=\"_ _1f1\"> </span><span class=\"ls89 wsa4\">53,29<span class=\"_ _3\"></span>9</span></span>Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a st<span class=\"_ _3\"></span>rong to<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th over t<span class=\"_ _3\"></span>he year, resulti<span class=\"_ _3\"></span>ng in a ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>over-yea<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>crease in s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of 36<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>% le<span class=\"_ _3\"></span>d by Me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g E<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ce. Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e saw a co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>emi<span class=\"_ _3\"></span>c wit<span class=\"_ _3\"></span>h sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>n bot<span class=\"_ _3\"></span>h se<span class=\"_ _3\"></span>gme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. M<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>nce sa<span class=\"_ _3\"></span>les p<span class=\"_ _3\"></span>icked u<span class=\"_ _3\"></span>p in th<span class=\"_ _3\"></span>e dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent reg<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as so<span class=\"_ _3\"></span>on as lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s were ea<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reb<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>-the<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>of<span class=\"_ _3\"></span>fice w<span class=\"_ _3\"></span>ave st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ted i<span class=\"_ _3\"></span>n EME<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>, fol<span class=\"_ _3\"></span>lowe<span class=\"_ _3\"></span>d by Am<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>s and A<span class=\"_ _3\"></span>sia<span class=\"_ _3\"></span>. Al<span class=\"_ _3\"></span>so L<span class=\"_ _3\"></span>arge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wal<span class=\"_ _3\"></span>ls rea<span class=\"_ _3\"></span>lized do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th in al<span class=\"_ _0\"></span>l regions,<span class=\"_ _0\"></span> fueled by<span class=\"_ _0\"></span> deployments o<span class=\"_ _0\"></span>f cont<span class=\"_ _0\"></span>rol r<span class=\"_ _0\"></span>ooms.Th<span class=\"_ _3\"></span>e Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on s<span class=\"_ _3\"></span>aw a ver<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>d recover<span class=\"_ _1\"></span>y of prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n of 19.1<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, up 1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>8 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts from 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3% in 202<span class=\"_ _3\"></span>1, p<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ily d<span class=\"_ _3\"></span>rive<span class=\"_ _3\"></span>n by th<span class=\"_ _3\"></span>e favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t mix o<span class=\"_ _3\"></span>f Click<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>are\u2019s sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span><span class=\"fc2 ls46 ws29\">Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol </span>proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.<span class=\"_ _0\"></span>4. EntertainmentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1ea\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _95\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1eb\"> </span>2020<span class=\"_ _1b0\"> </span>Varian<span class=\"_ _3\"></span>ce 2022-2021<span class=\"_ _c7\"> </span>Var<span class=\"_ _3\"></span>ian<span class=\"_ _3\"></span>ce 2021-2020</span>Net s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _1fa\"> </span><span class=\"lsfe ws11b\">399,339<span class=\"_ _51\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"lse7 ws104\">30<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>12<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _14e\"> </span><span class=\"lsfc ws119\">2<span class=\"_ _3\"></span>91<span class=\"_ _3\"></span>,433<span class=\"_ _51\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _1ed\"> </span><span class=\"lsea ws107\">28.<span class=\"_ _3\"></span>9%<span class=\"_ _1f4\"> </span></span></span>6.3%</span>Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _1f2\"> </span>-275<span class=\"_ _3\"></span>,276<span class=\"_ _df\"> </span>-6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>.9%<span class=\"_ _194\"> </span>-<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _17e\"> </span>-7<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>4%<span class=\"_ _105\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>58<span class=\"_ _3\"></span>4<span class=\"_ _d4\"> </span></span>-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6<span class=\"_ _3\"></span>%<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">26.<span class=\"_ _3\"></span>3%<span class=\"_ _1d0\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _1fb\"> </span>1<span class=\"_ _3\"></span>24,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>63<span class=\"_ _4f\"> </span>31.<span class=\"_ _3\"></span>1%<span class=\"_ _37\"> </span>91<span class=\"_ _3\"></span>,732<span class=\"_ _c2\"> </span>2<span class=\"_ _3\"></span>9.6%<span class=\"_ _14a\"> </span><span class=\"lsfb ws118\">82,<span class=\"_ _3\"></span>849<span class=\"_ _c2\"> </span></span>28.<span class=\"_ _3\"></span>4%<span class=\"_ _1ed\"> </span><span class=\"ls84 ws9f\">35<span class=\"_ _3\"></span>.2%<span class=\"_ _39\"> </span><span class=\"lse6 ws103\">10.7%</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _1bc\"> </span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _f\"> </span>6.<span class=\"_ _3\"></span>9%<span class=\"_ _149\"> </span><span class=\"ls131 ws161\">21<span class=\"_ _3\"></span>,465<span class=\"_ _b8\"> </span></span>6<span class=\"_ _3\"></span>.9%<span class=\"_ _4a\"> </span><span class=\"lsea ws107\">287<span class=\"_ _b9\"> </span><span class=\"ls84 ws9f\">0.<span class=\"_ _3\"></span>1%<span class=\"_ _1ed\"> </span></span>28.<span class=\"_ _3\"></span>2%<span class=\"_ _1fc\"> </span><span class=\"ls10b ws128\">7379.7%</span></span>Deprecia<span class=\"_ _0\"></span>tion TF<span class=\"_ _0\"></span>A and (ac<span class=\"_ _0\"></span>quired) i<span class=\"_ _0\"></span>ntangibles<span class=\"_ _1fd\"> </span>16,555<span class=\"_ _fe\"> </span>4.<span class=\"_ _3\"></span>1%<span class=\"_ _d4\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">5.8%<span class=\"_ _df\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>9,9<span class=\"_ _3\"></span>89<span class=\"_ _c1\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>.9%<span class=\"_ _d1\"> </span></span></span></span>-<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _1fe\"> </span>10,95<span class=\"_ _3\"></span>5<span class=\"_ _f\"> </span>2.7<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span>3,51<span class=\"_ _3\"></span>2<span class=\"_ _fe\"> </span>1.1%<span class=\"_ _fd\"> </span>-1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>2<span class=\"_ _148\"> </span>-6<span class=\"_ _3\"></span>.8%<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">211<span class=\"_ _3\"></span>.9%<span class=\"_ _88\"> </span><span class=\"ls1ae ws280\">-1<span class=\"_ _1\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>%</span></span>Ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>res T<span class=\"_ _3\"></span>FA and s<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are<span class=\"_ _18e\"> </span>8,0<span class=\"_ _3\"></span>02<span class=\"_ _89\"> </span>2.<span class=\"_ _3\"></span>0%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>810<span class=\"_ _147\"> </span><span class=\"lsdf wsfc\">1<span class=\"_ _3\"></span>.2%<span class=\"_ _bd\"> </span><span class=\"ls133 ws162\">8<span class=\"_ _3\"></span>,177<span class=\"_ _c1\"> </span><span class=\"lsfb ws118\">2.8%<span class=\"_ _144\"> </span></span></span></span>110<span class=\"_ _3\"></span>.0%<span class=\"_ _150\"> </span><span class=\"ls106 ws123\">-<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>.4%</span></span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _199\"> </span>13,723<span class=\"_ _1ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>16<span class=\"_ _e3\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Segment<span class=\"_ _0\"></span> assets <span class=\"_ _200\"> </span>288<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"ls10e ws12b\">226<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>84<span class=\"_ _da\"> </span>285,3<span class=\"_ _3\"></span>70</span>Segment liabilities<span class=\"_ _199\"> </span><span class=\"lse0 wsfd\">140,<span class=\"_ _3\"></span>825<span class=\"_ _22\"> </span>14<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _1f0\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"> </span>8</span></span>Th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on d<span class=\"_ _3\"></span>eli<span class=\"_ _3\"></span>vere<span class=\"_ _3\"></span>d 29% sa<span class=\"_ _3\"></span>les g<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>2, explained b<span class=\"_ _0\"></span>y the solid demand<span class=\"_ _0\"></span> in Cinema f<span class=\"_ _0\"></span>or Barc<span class=\"_ _0\"></span>o\u2019s<span class=\"_ _0\"></span> all-<span class=\"_ _3\"></span>laser po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tfo<span class=\"_ _3\"></span>lio a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h topl<span class=\"_ _3\"></span>ine i<span class=\"_ _3\"></span>n Imm<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sive E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce, wit<span class=\"_ _3\"></span>h a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>icul<span class=\"_ _3\"></span>ar u<span class=\"_ _3\"></span>pta<span class=\"_ _3\"></span>ke in th<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ins<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s refl<span class=\"_ _3\"></span>ect<span class=\"ls4 ws4\">-</span>ing g<span class=\"_ _3\"></span>reater d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and f<span class=\"_ _3\"></span>rom m<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>ums<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d the<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>ark<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s (ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r).Th<span class=\"_ _3\"></span>e di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to tur<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>roun<span class=\"_ _3\"></span>d a ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive EBI<span class=\"_ _3\"></span>TDA i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022 to an EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n at th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>me le<span class=\"_ _3\"></span>vel as 2021 (6<span class=\"_ _3\"></span>.9%). An imp<span class=\"_ _3\"></span>roved g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgi<span class=\"_ _3\"></span>n, as t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct of c<span class=\"_ _0\"></span>omponent shortages (<span class=\"_ _0\"></span>more pr<span class=\"_ _0\"></span>onounced in<span class=\"_ _0\"></span> the first half<span class=\"_ _0\"></span> of 2022) w<span class=\"_ _3\"></span>as la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>ly reso<span class=\"_ _3\"></span>lve<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>cond h<span class=\"_ _3\"></span>alf of t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to imp<span class=\"_ _3\"></span>lem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ted pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct red<span class=\"_ _3\"></span>esi<span class=\"_ _3\"></span>gns w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tly o<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fset by incre<span class=\"_ _3\"></span>ased i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in R&amp;D a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ketin<span class=\"_ _3\"></span>g to fu<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r st<span class=\"_ _3\"></span>reng<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on\u2019s va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ccel<span class=\"ws4\">-</span>erat<span class=\"_ _0\"></span>e certain gr<span class=\"_ _0\"></span>ow<span class=\"_ _3\"></span>th init<span class=\"_ _0\"></span>iatives. Incre<span class=\"_ _3\"></span>ase in s<span class=\"_ _3\"></span>egm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2022 are ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of a temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncrea<span class=\"_ _3\"></span>se in in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y level<span class=\"_ _3\"></span>s to lowe<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f shortages.We refer to '<span class=\"fc2 ls13 ws59\">Ou<span class=\"_ _3\"></span>r r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s'</span> a<span class=\"_ _3\"></span>nd '<span class=\"_ _3\"></span>Risk management<span class=\"_ _0\"></span> and contr<span class=\"_ _0\"></span>ol proc<span class=\"_ _0\"></span>esses'<span class=\"fc0 ls30 ws3c\"> f<span class=\"_ _0\"></span>or more<span class=\"_ _0\"></span> explanation.</span>2.5. Reconciliation of segment information with group informa<span class=\"_ _0\"></span>tionIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Exte<span class=\"_ _3\"></span>rnal sale<span class=\"_ _3\"></span>sHealthcar<span class=\"_ _0\"></span>e<span class=\"_ _202\"> </span>341<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>701<span class=\"_ _8f\"> </span><span class=\"ls10e ws12b\">261,4<span class=\"_ _3\"></span>86<span class=\"_ _8f\"> </span>261<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>56</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>3<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _148\"> </span><span class=\"lsf5 ws112\">9<span class=\"_ _3\"></span>9%<span class=\"_ _4d\"> </span></span> 2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span> <span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">98%<span class=\"_ _58\"> </span></span>25<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>026 <span class=\"_ _c3\"> </span><span class=\"lsf5 ws112\">99%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _203\"> </span>3,718<span class=\"_ _147\"> </span>1%<span class=\"_ _bf\"> </span>4,020 <span class=\"_ _86\"> </span><span class=\"lsdf wsfc\">2%<span class=\"_ _f9\"> </span></span>3<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>0 <span class=\"_ _10f\"> </span><span class=\"ls190 ws254\">1%</span>Enterprise<span class=\"_ _204\"> </span>317<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250<span class=\"_ _1fc\"> </span><span class=\"ls36 ws40\">233,090<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">216,<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>4</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _205\"> </span>232,932<span class=\"_ _148\"> </span>7<span class=\"_ _3\"></span>3%<span class=\"_ _59\"> </span><span class=\"lsdc wsf9\">161<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _148\"> </span></span>69%<span class=\"_ _59\"> </span><span class=\"lse7 ws104\">15<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,435<span class=\"_ _51\"> </span><span class=\"ls42 ws6f\">71%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _206\"> </span>84<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>319<span class=\"_ _98\"> </span>27<span class=\"_ _3\"></span>%<span class=\"_ _194\"> </span><span class=\"lsdd wsfa\">71<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _4f\"> </span></span>31<span class=\"_ _3\"></span>%<span class=\"_ _87\"> </span><span class=\"lse7 ws104\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>59<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">2<span class=\"_ _3\"></span>9%</span></span>Ent<span class=\"_ _0\"></span>ertainment<span class=\"_ _35\"> </span>399,339<span class=\"_ _ae\"> </span><span class=\"lse7 ws104\">309,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>2<span class=\"_ _ae\"> </span><span class=\"lsfc ws119\">291<span class=\"_ _3\"></span>,433</span></span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _1e\"> </span>36<span class=\"_ _3\"></span>4,830<span class=\"_ _98\"> </span>91<span class=\"_ _3\"></span>%<span class=\"_ _c7\"> </span>2<span class=\"_ _3\"></span>76,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _53\"> </span><span class=\"lsf5 ws112\">89%<span class=\"_ _58\"> </span></span>2<span class=\"_ _3\"></span>55,<span class=\"_ _3\"></span>694<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">8<span class=\"_ _3\"></span>8%</span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _207\"> </span>34,50<span class=\"_ _3\"></span>9<span class=\"_ _f\"> </span>9%<span class=\"_ _14e\"> </span>32<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>31<span class=\"_ _51\"> </span>11%<span class=\"_ _e7\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>739<span class=\"_ _4f\"> </span><span class=\"lsdf wsfc\">12%</span></span>T<span class=\"_ _0\"></span>otal e<span class=\"_ _0\"></span>xternal sales<span class=\"_ _0\"></span> segments<span class=\"_ _109\"> </span><span class=\"lsf1 ws10e\">1<span class=\"_ _3\"></span>,058,291<span class=\"_ _b\"> </span></span>804,288<span class=\"_ _8d\"> </span><span class=\"ls131 ws161\">7<span class=\"_ _3\"></span>70,083</span>  At a p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt in t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _e0\"> </span>93<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _148\"> </span><span class=\"ls89 wsa4\">88%<span class=\"_ _4d\"> </span></span> 695,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>41 <span class=\"_ _37\"> </span>8<span class=\"_ _3\"></span>6%<span class=\"_ _ea\"> </span><span class=\"ls19c ws271\"> 6<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _c4\"> </span><span class=\"ls138 ws167\">87%</span></span>  Ov<span class=\"_ _3\"></span>er ti<span class=\"_ _3\"></span>me r<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>es<span class=\"_ _190\"> </span>1<span class=\"_ _3\"></span>22,5<span class=\"_ _3\"></span>46<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>2%<span class=\"_ _58\"> </span> 10<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> <span class=\"_ _c2\"> </span>14%<span class=\"_ _4d\"> </span><span class=\"lsde wsfb\"> 102<span class=\"_ _3\"></span>,928 <span class=\"_ _d4\"> </span><span class=\"lsee ws10b\">13%</span></span>Net IncomeEBIT<span class=\"_ _3\"></span>DA  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _208\"> </span>38,<span class=\"_ _3\"></span>354<span class=\"_ _144\"> </span><span class=\"lsed ws10a\">22,399<span class=\"_ _144\"> </span><span class=\"lsf0 ws10d\">35,030</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _209\"> </span>60,609<span class=\"_ _14f\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45<span class=\"_ _14f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1ee\"> </span><span class=\"lsde wsfb\">27<span class=\"_ _0\"></span>,510<span class=\"_ _d3\"> </span><span class=\"ls139 ws168\">21,465<span class=\"_ _20a\"> </span></span>287</span>Depreciation and<span class=\"_ _0\"></span> other amortizations  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _30\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>1,7<span class=\"_ _3\"></span>75<span class=\"_ _d3\"> </span><span class=\"ls131 ws161\">13,<span class=\"_ _3\"></span>362</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _f4\"> </span>8,6<span class=\"_ _3\"></span>01<span class=\"_ _b3\"> </span><span class=\"lse3 ws100\">9,4<span class=\"_ _3\"></span>08<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10,03<span class=\"_ _3\"></span>3</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>16,<span class=\"_ _3\"></span>555<span class=\"_ _d8\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">19,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>9</span></span>Adjusted E<span class=\"_ _0\"></span>BIT  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">10,62<span class=\"_ _0\"></span>4<span class=\"_ _150\"> </span><span class=\"lsfb ws118\">21<span class=\"_ _3\"></span>,668</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _20b\"> </span>52,009<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\">5,<span class=\"_ _3\"></span>237<span class=\"_ _38\"> </span><span class=\"lsdc wsf9\">8,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _1fe\"> </span>10<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>5<span class=\"_ _d1\"> </span><span class=\"lsde wsfb\">3<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>2<span class=\"_ _47\"> </span><span class=\"lse3 ws100\">-19,<span class=\"_ _3\"></span>702</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EB<span class=\"_ _3\"></span>IT<span class=\"_ _3c\"> </span>90,143<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _144\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _20c\"> </span>-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d3\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>0<span class=\"_ _3b\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>EBIT<span class=\"_ _84\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"> </span>4<span class=\"_ _1\"></span>3<span class=\"_ _14f\"> </span><span class=\"ls89 wsa4\">12<span class=\"_ _3\"></span>,953<span class=\"_ _150\"> </span><span class=\"lsfe ws11b\">-4,<span class=\"_ _3\"></span>332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _f7\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _cb\"> </span><span class=\"ls106 ws123\">-1,1<span class=\"_ _3\"></span>10<span class=\"_ _1d6\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>Income/<span class=\"_ _0\"></span>(loss) bef<span class=\"_ _0\"></span>ore taxes<span class=\"_ _20d\"> </span>88,486<span class=\"_ _144\"> </span><span class=\"lsfc ws119\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _20e\"> </span>-1<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>27<span class=\"_ _39\"> </span><span class=\"lsfe ws11b\">-2,1<span class=\"_ _3\"></span>32<span class=\"_ _20f\"> </span></span>-Res<span class=\"_ _3\"></span>ult a<span class=\"_ _3\"></span>ft<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>axes<span class=\"_ _210\"> </span>72,559<span class=\"_ _38\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>1<span class=\"_ _150\"> </span><span class=\"ls131 ws161\">-4,453</span></span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _af\"> </span>3,33<span class=\"_ _3\"></span>7<span class=\"_ _e2\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _22\"> </span><span class=\"lsdd wsfa\">-276</span></span>Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _211\"> </span>75,896<span class=\"_ _90\"> </span><span class=\"lse7 ws104\">9,<span class=\"_ _3\"></span>759<span class=\"_ _14f\"> </span><span class=\"ls36 ws40\">-4,729</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>tro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _212\"> </span>677<span class=\"_ _20a\"> </span><span class=\"lsea ws107\">878<span class=\"_ _22\"> </span><span class=\"lsf5 ws112\">-335</span></span>Net I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e att<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to  75,219<span class=\"_ _90\"> </span><span class=\"ls139 ws168\">8,881<span class=\"_ _144\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>393</span></span>the e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>entTh<span class=\"_ _3\"></span>e tot<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>ver t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e rev<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ate to p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Ente<span class=\"_ _3\"></span>rp<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd to re<span class=\"_ _3\"></span>cu<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce reve<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>s ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ted o<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>inte<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>AssetsSegment<span class=\"_ _0\"></span> assets  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _213\"> </span><span class=\"lsdc wsf9\">193<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>103<span class=\"_ _3b\"> </span>141<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>27<span class=\"_ _49\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _214\"> </span>19<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>2<span class=\"_ _215\"> </span><span class=\"ls138 ws167\">202,<span class=\"_ _3\"></span>365<span class=\"_ _1ef\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _216\"> </span><span class=\"lsde wsfb\">288<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>556<span class=\"_ _8f\"> </span><span class=\"ls109 ws126\">226,584<span class=\"_ _8f\"> </span></span>285<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>70</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _ac\"> </span>6<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>2<span class=\"_ _ae\"> </span><span class=\"ls1af ws281\">570<span class=\"_ _3\"></span>,076<span class=\"_ _8f\"> </span><span class=\"lsfb ws118\">550,336</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _217\"> </span>55,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>39<span class=\"_ _14f\"> </span><span class=\"ls133 ws162\">64,1<span class=\"_ _3\"></span>55<span class=\"_ _44\"> </span><span class=\"ls131 ws161\">62,81<span class=\"_ _3\"></span>1</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s<span class=\"_ _1b8\"> </span>1,651<span class=\"_ _38\"> </span><span class=\"lsed ws10a\">2,763<span class=\"_ _90\"> </span></span> 3,17<span class=\"_ _3\"></span>5 Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _20d\"> </span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>5,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>5<span class=\"_ _49\"> </span><span class=\"ls42 ws6f\">35<span class=\"_ _0\"></span>1<span class=\"_ _3\"></span>,571<span class=\"_ _8f\"> </span><span class=\"ls138 ws167\">235<span class=\"_ _3\"></span>,402</span></span>Other non-alloca<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>ets<span class=\"_ _ed\"> </span>107<span class=\"_ _2\"></span>,0<span class=\"_ _3\"></span>28<span class=\"_ _218\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>5,68<span class=\"_ _3\"></span>4<span class=\"_ _88\"> </span><span class=\"lse7 ws104\">16<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,479</span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _219\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _cc\"> </span><span class=\"ls19a ws26f\">1,10<span class=\"_ _0\"></span>4,2<span class=\"_ _0\"></span>49<span class=\"_ _cc\"> </span><span class=\"lsfe ws11b\">1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _201\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d1\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _cb\"> </span>2020</span>LiabilitiesSegment liabilities  Healthcar<span class=\"_ _0\"></span>e<span class=\"_ _20b\"> </span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>7<span class=\"_ _150\"> </span><span class=\"ls36 ws40\">59,88<span class=\"_ _0\"></span>2<span class=\"_ _144\"> </span><span class=\"lse3 ws100\">49,39<span class=\"_ _3\"></span>8</span></span>  Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _21a\"> </span>75<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>4<span class=\"_ _14f\"> </span><span class=\"lsfb ws118\">81,053<span class=\"_ _144\"> </span><span class=\"ls42 ws6f\">53,<span class=\"_ _3\"></span>299</span></span>  Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _21b\"> </span><span class=\"lsdc wsf9\">140<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>82<span class=\"_ _3\"></span>5<span class=\"_ _218\"> </span>14<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>02<span class=\"_ _1ef\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>6<span class=\"_ _4\"></span>4<span class=\"_ _1\"></span>8</span></span>T<span class=\"_ _0\"></span>otal segment liabilities290,6<span class=\"_ _3\"></span>87<span class=\"_ _8f\"> </span><span class=\"lsea ws107\">285,6<span class=\"_ _3\"></span>37<span class=\"_ _1fc\"> </span><span class=\"lsfe ws11b\">220,<span class=\"_ _3\"></span>34<span class=\"_ _3\"></span>4</span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _21c\"> </span>759,<span class=\"_ _3\"></span>189<span class=\"_ _88\"> </span><span class=\"lsdc wsf9\">693<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>83<span class=\"_ _8f\"> </span><span class=\"lsed ws10a\">659<span class=\"_ _0\"></span>,309</span></span>No<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>trol<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>ntere<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _1bb\"> </span>19,7<span class=\"_ _3\"></span>92<span class=\"_ _1ed\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>031<span class=\"_ _44\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8</span></span>Long-term<span class=\"_ _0\"></span> debts<span class=\"_ _21b\"> </span>32,33<span class=\"_ _3\"></span>5<span class=\"_ _3b\"> </span><span class=\"lse9 ws106\">34,<span class=\"_ _3\"></span>366<span class=\"_ _144\"> </span><span class=\"ls36 ws40\">35,854</span></span>Deferred<span class=\"_ _0\"></span> tax liabilities<span class=\"_ _21d\"> </span>3,229<span class=\"_ _cb\"> </span><span class=\"lsfe ws11b\">3,<span class=\"_ _3\"></span>823<span class=\"_ _38\"> </span><span class=\"lsef ws10c\">4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm d<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>ts<span class=\"_ _21e\"> </span>11,21<span class=\"_ _0\"></span>7<span class=\"_ _d3\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>218<span class=\"_ _21f\"> </span><span class=\"lse3 ws100\">9,18<span class=\"_ _3\"></span>7</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s<span class=\"_ _220\"> </span>-<span class=\"_ _20f\"> </span>-<span class=\"_ _e2\"> </span><span class=\"ls109 ws126\">86</span>Other non-allocat<span class=\"_ _0\"></span>ed liabilities<span class=\"_ _121\"> </span>3<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>7<span class=\"_ _144\"> </span><span class=\"lse0 wsfd\">35,<span class=\"_ _3\"></span>390<span class=\"_ _47\"> </span><span class=\"ls36 ws40\">50,880</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _eb\"> </span>1<span class=\"_ _3\"></span>,14<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>,405<span class=\"_ _cc\"> </span><span class=\"ls19a ws26f\">1,10<span class=\"_ _0\"></span>4,2<span class=\"_ _0\"></span>49<span class=\"_ _cc\"> </span><span class=\"lsfe ws11b\">1,<span class=\"_ _3\"></span>018,<span class=\"_ _3\"></span>203</span></span>2.6. Geographic in<span class=\"_ _0\"></span>formationMan<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>itors s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e reg<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns to whi<span class=\"_ _3\"></span>ch the g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds a<span class=\"_ _3\"></span>re ship<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ed or t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices a<span class=\"_ _3\"></span>re rend<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>d in three<span class=\"_ _0\"></span> geo<span class=\"_ _3\"></span>graphical r<span class=\"_ _0\"></span>egions Eur<span class=\"_ _0\"></span>ope, Americas (North-A<span class=\"_ _3\"></span>merica an<span class=\"_ _3\"></span>d L<span class=\"_ _3\"></span>A<span class=\"_ _0\"></span>TAM) and A<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Pa<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c (A<span class=\"_ _3\"></span>PAC)<span class=\"_ _0\"></span>. We refer to the \u2018<span class=\"fc2\">Co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>roup res<span class=\"_ _3\"></span>ult<span class=\"_ _3\"></span>s</span>\u2019 for a sp<span class=\"_ _3\"></span>lit of reven<span class=\"_ _3\"></span>ue fro<span class=\"_ _3\"></span>m ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ogr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>al loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs to wh<span class=\"_ _3\"></span>om t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nvoice is i<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ere is n<span class=\"_ _3\"></span>o sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant (i<span class=\"_ _3\"></span>.e. rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 10% of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s reven<span class=\"_ _3\"></span>ue) con<span class=\"_ _3\"></span>centr<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of B<span class=\"_ _3\"></span>arco\u2019s revenu<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>th on<span class=\"_ _3\"></span>e custo<span class=\"_ _3\"></span>mer. Sa<span class=\"_ _3\"></span>les to B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ium re<span class=\"_ _3\"></span>pres<span class=\"_ _3\"></span>ent 42 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up rev<span class=\"_ _3\"></span><span class=\"ws4\">-</span>en<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2022 ver<span class=\"_ _3\"></span>sus 2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 23 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on in 2020. Be<span class=\"_ _3\"></span>low ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e give<span class=\"_ _3\"></span>s an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r reg<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd the m<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>t imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>nt ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s per region.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _221\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _222\"> </span>2021<span class=\"_ _223\"> </span>2020</span>Net salesEuro<span class=\"_ _3\"></span>pe405,19<span class=\"_ _3\"></span>0<span class=\"_ _8b\"> </span>38.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span>305,199<span class=\"_ _b9\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>%<span class=\"_ _d4\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>280<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>.4%</span></span>Americas435<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>793<span class=\"_ _b9\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _c4\"> </span>3<span class=\"_ _3\"></span>00,<span class=\"_ _3\"></span>826<span class=\"_ _f\"> </span>3<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"lsda wsf7\">296,942<span class=\"_ _86\"> </span><span class=\"lse7 ws104\">38<span class=\"_ _3\"></span>.6%</span></span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c217<span class=\"_ _0\"></span>,308<span class=\"_ _8b\"> </span>20<span class=\"_ _3\"></span>.5%<span class=\"_ _53\"> </span>19<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>262<span class=\"_ _b9\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls109 ws126\">192,862<span class=\"_ _86\"> </span><span class=\"lsf5 ws112\">25<span class=\"_ _3\"></span>.0%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l1,058,291<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%<span class=\"_ _37\"> </span><span class=\"lsda wsf7\">804,288<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%<span class=\"_ _d4\"> </span><span class=\"ls131 ws161\">770,083<span class=\"_ _f\"> </span></span>10<span class=\"_ _3\"></span>0%</span>T<span class=\"_ _0\"></span>otal assetsEuro<span class=\"_ _3\"></span>pe<span class=\"_ _19e\"> </span>515,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _8b\"> </span>44<span class=\"_ _3\"></span>.9%<span class=\"_ _86\"> </span><span class=\"ls42 ws6f\">557<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _8b\"> </span><span class=\"ls106 ws123\">50.<span class=\"_ _3\"></span>5%</span></span>45<span class=\"_ _3\"></span>5,93<span class=\"_ _3\"></span>0<span class=\"_ _86\"> </span><span class=\"ls89 wsa4\">4<span class=\"_ _3\"></span>4.8%</span>Americas<span class=\"_ _224\"> </span><span class=\"lsf0 ws10d\">266<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>78<span class=\"_ _10f\"> </span><span class=\"lsee ws10b\">23.<span class=\"_ _3\"></span>3%<span class=\"_ _c2\"> </span></span>180,<span class=\"_ _3\"></span>303<span class=\"_ _b9\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>222,214<span class=\"_ _10f\"> </span><span class=\"ls139 ws168\">21.8%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _2d\"> </span>365,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>7<span class=\"_ _b9\"> </span>31<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>%<span class=\"_ _c2\"> </span><span class=\"ls89 wsa4\">366,3<span class=\"_ _3\"></span>75<span class=\"_ _8b\"> </span><span class=\"lse9 ws106\">33.<span class=\"_ _3\"></span>2%</span></span>3<span class=\"_ _3\"></span>40<span class=\"_ _3\"></span>,059<span class=\"_ _10f\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>.4%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _225\"> </span>1,147<span class=\"_ _2\"></span>,405<span class=\"_ _b9\"> </span>10<span class=\"_ _3\"></span>0%<span class=\"_ _108\"> </span><span class=\"ls19a ws26f\">1,1<span class=\"_ _0\"></span>04,2<span class=\"_ _0\"></span>49<span class=\"_ _b8\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>0%</span></span>1,01<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>203<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100%</span>Pur<span class=\"_ _3\"></span>cha<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s of ta<span class=\"_ _3\"></span>ngi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>e fixe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s (excl<span class=\"_ _3\"></span>. IFR<span class=\"_ _3\"></span>S 16)*Euro<span class=\"_ _3\"></span>pe <span class=\"_ _197\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _f\"> </span>4<span class=\"_ _3\"></span>7.<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _36\"> </span><span class=\"lsfb ws118\">8,186<span class=\"_ _10f\"> </span><span class=\"lse7 ws104\">43.<span class=\"_ _3\"></span>6%</span></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5<span class=\"_ _8b\"> </span><span class=\"ls139 ws168\">48.8%</span>Americas<span class=\"_ _226\"> </span>3,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>3<span class=\"_ _147\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>%<span class=\"_ _1a8\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>223<span class=\"_ _50\"> </span><span class=\"ls106 ws123\">6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span></span>1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _4a\"> </span><span class=\"lse7 ws104\">9.6%</span>Asia<span class=\"_ _3\"></span>-Pacifi<span class=\"_ _3\"></span>c<span class=\"_ _192\"> </span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _10f\"> </span>35<span class=\"_ _3\"></span>.0%<span class=\"_ _3d\"> </span><span class=\"lse3 ws100\">9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>9<span class=\"_ _8b\"> </span><span class=\"lse7 ws104\">49.9<span class=\"_ _3\"></span>%</span></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _89\"> </span><span class=\"ls103 ws120\">41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _196\"> </span>21,<span class=\"_ _3\"></span>218<span class=\"_ _f\"> </span><span class=\"lse6 ws103\">100<span class=\"_ _3\"></span>%<span class=\"_ _f\"> </span><span class=\"ls89 wsa4\">18<span class=\"_ _3\"></span>,787<span class=\"_ _b9\"> </span></span>10<span class=\"_ _3\"></span>0%</span>14,9<span class=\"_ _3\"></span>80<span class=\"_ _89\"> </span><span class=\"lse6 ws103\">100%</span>Sa<span class=\"_ _3\"></span>les for t<span class=\"_ _3\"></span>he ye<span class=\"_ _3\"></span>ar in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d 32% (24% at const<span class=\"_ _3\"></span>ant cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies) to 1<span class=\"_ _3\"></span>,058<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, close to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic 2019 level<span class=\"_ _3\"></span>. E<span class=\"_ _3\"></span>xclud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g Chin<span class=\"_ _3\"></span>a, al<span class=\"_ _3\"></span>l regi<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re back to th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les l<span class=\"_ _3\"></span>evel of 2019. Y<span class=\"_ _0\"></span>ea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>red a do<span class=\"_ _3\"></span>ub<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>git sa<span class=\"_ _3\"></span>les grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h, f<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>led by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tead<span class=\"_ _3\"></span>y imp<span class=\"_ _3\"></span>rovem<span class=\"_ _3\"></span>ent in t<span class=\"_ _3\"></span>he su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly chai<span class=\"_ _3\"></span>n over t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half o<span class=\"_ _3\"></span>f 2022. Th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s profi<span class=\"_ _3\"></span>t marg<span class=\"_ _3\"></span>in im<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d with 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts year-<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r to 39%. T<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>s recover<span class=\"_ _3\"></span>y c<span class=\"_ _3\"></span>lose to th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic leve<span class=\"_ _3\"></span>ls w<span class=\"_ _3\"></span>as tha<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s to gross p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d fue<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>d by a mo<span class=\"_ _3\"></span>re favo<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct m<span class=\"_ _3\"></span>ix m<span class=\"_ _3\"></span>ost o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>ken i<span class=\"_ _3\"></span>n the En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ws4\">-</span>sio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d by a bet<span class=\"_ _3\"></span>ter s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>ply ch<span class=\"_ _3\"></span>ain s<span class=\"_ _3\"></span>itu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd hal<span class=\"_ _3\"></span>f of th<span class=\"_ _3\"></span>e year.to defen<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ex<span class=\"_ _3\"></span>tend t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>t posi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r leve<span class=\"_ _3\"></span>l of in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2020 a<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>1 (-17% b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low pre covid le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>) as a resu<span class=\"_ _3\"></span>lt of me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s take<span class=\"_ _3\"></span>n to ali<span class=\"_ _3\"></span>gn th<span class=\"_ _3\"></span>e ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y rat<span class=\"_ _0\"></span>e with mark<span class=\"_ _0\"></span>et re<span class=\"_ _0\"></span>alities and c<span class=\"_ _0\"></span>ustomer demand, c<span class=\"_ _0\"></span>ould not<span class=\"_ _0\"></span> comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sate for t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>rgin l<span class=\"_ _3\"></span>oss<span class=\"_ _3\"></span>es resu<span class=\"_ _3\"></span>lti<span class=\"_ _3\"></span>ng fro<span class=\"_ _3\"></span>m th<span class=\"_ _3\"></span>e lower topl<span class=\"_ _3\"></span>ine co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>ared to pre cov<span class=\"_ _3\"></span>id leve<span class=\"_ _3\"></span>l, re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n an a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>sted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in of 2.4 % in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.3% i<span class=\"_ _3\"></span>n 2020.In 2022, EB<span class=\"_ _3\"></span>IT i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>s rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f a num<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res acros<span class=\"_ _3\"></span>s dif<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rent cou<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>nd fu<span class=\"_ _3\"></span>nct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns in th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>inly i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e bus<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>ss uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>here t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y keep<span class=\"_ _3\"></span>s la<span class=\"_ _3\"></span>ggi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent i<span class=\"_ _3\"></span>ntend<span class=\"_ _3\"></span>s to cond<span class=\"_ _3\"></span>uct a s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c revi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>is bu<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>ss un<span class=\"_ _3\"></span>it in 2023<span class=\"_ _3\"></span>, focus<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>.EBIT i<span class=\"_ _3\"></span>n 2021 in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d 6.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost d<span class=\"_ _3\"></span>own m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>cross di<span class=\"_ _3\"></span>f<span class=\"ls4 ws4\">-</span>ferent co<span class=\"_ _3\"></span>untr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>. In 2020 res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of th<span class=\"_ _3\"></span>e T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>se Uni<span class=\"_ _3\"></span>see L<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>uid Cr<span class=\"_ _1\"></span>yst<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule (LCM) prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _1\"></span>y and to reorga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se di<span class=\"_ _3\"></span>visi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span> ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the e<span class=\"_ _3\"></span>cono<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dem<span class=\"_ _3\"></span>ic (14.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro). For m<span class=\"_ _3\"></span>ore de<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng item<span class=\"_ _3\"></span>s we refer to no<span class=\"_ _3\"></span>te 5<span class=\"_ _0\"></span> 'Restructuring and i<span class=\"_ _0\"></span>mpairment'.Adj<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>ted EBIT m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>in reach<span class=\"_ _3\"></span>ed 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5% in 2022, up 6<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2021<span class=\"_ _3\"></span>. B<span class=\"_ _3\"></span>oth g<span class=\"_ _3\"></span>ross ma<span class=\"_ _3\"></span>rgin i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l leve<span class=\"_ _3\"></span>rag<span class=\"_ _3\"></span>e on t<span class=\"_ _3\"></span>he top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted to these uptak<span class=\"_ _0\"></span>es.Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 30.<span class=\"_ _3\"></span>3 % of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021: 33%<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>olute n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rs is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by hi<span class=\"_ _3\"></span>gh i<span class=\"_ _3\"></span>nfl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, resumed<span class=\"_ _0\"></span> activit<span class=\"_ _3\"></span>y le<span class=\"_ _0\"></span>vels and investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s post<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>covid.In 2021 top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed 4.4 % co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020. Alt<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ugh sa<span class=\"_ _3\"></span>les we<span class=\"_ _3\"></span>re up yea<span class=\"_ _3\"></span>r-ove<span class=\"_ _3\"></span>r-yea<span class=\"_ _3\"></span>r in al<span class=\"_ _3\"></span>l div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, pro<span class=\"_ _3\"></span>lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d pandemic induced<span class=\"_ _0\"></span> restrictions and c<span class=\"_ _0\"></span>ompon<span class=\"_ _3\"></span>ent shortages conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to ca<span class=\"_ _3\"></span>use d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ays in co<span class=\"_ _3\"></span>nver<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rs to sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. Com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t and t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t sc<span class=\"_ _3\"></span>arcit<span class=\"_ _3\"></span>y ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d broke<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d res<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>cted p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les (vo<span class=\"_ _3\"></span>lum<span class=\"_ _3\"></span>e) ef<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cien<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _3\"></span>ress<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng gros<span class=\"_ _3\"></span>s prof<span class=\"_ _3\"></span>it ma<span class=\"_ _3\"></span>rgins<span class=\"_ _3\"></span>, do<span class=\"_ _3\"></span>wn 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>rcent<span class=\"ls4 ws4\">-</span>ag<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s ver<span class=\"_ _3\"></span>sus 2020. In a<span class=\"_ _3\"></span>bso<span class=\"_ _3\"></span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ne comp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sated fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e lower g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d was 3<span class=\"_ _3\"></span>.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro high<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 2020.In 2021<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were kep<span class=\"_ _3\"></span>t st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le ver<span class=\"_ _3\"></span>sus 2020, a res<span class=\"_ _3\"></span>ult of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h sele<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive inve<span class=\"_ _3\"></span>st<span class=\"ls4 ws4\">-</span>ments in r<span class=\"_ _0\"></span>esearc<span class=\"_ _0\"></span>h and devel<span class=\"_ _0\"></span>op<span class=\"_ _3\"></span>ment and<span class=\"_ _0\"></span> commerc<span class=\"_ _0\"></span>ialization<span class=\"_ _0\"></span> 3. Income from operations (EBIT)In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Sales<span class=\"_ _227\"> </span><span class=\"lsfe ws11b\">1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _11\"> </span><span class=\"lsde wsfb\">8<span class=\"_ _3\"></span>04<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>288</span></span>7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83Cos<span class=\"_ _3\"></span>t of g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds so<span class=\"_ _3\"></span>ld<span class=\"_ _61\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>45,<span class=\"_ _3\"></span>538<span class=\"_ _62\"> </span><span class=\"ls135 ws164\">-516,80<span class=\"_ _0\"></span>3</span></span>-4<span class=\"_ _3\"></span>86,300Gross prof<span class=\"_ _3\"></span>it<span class=\"_ _228\"> </span>412,753<span class=\"_ _ad\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5</span>283,783Gro<span class=\"_ _3\"></span>ss p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it as % o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _6b\"> </span><span class=\"lsfc ws119\">39.0<span class=\"_ _3\"></span>%<span class=\"_ _d7\"> </span><span class=\"ls89 wsa4\">35.7%</span></span>36<span class=\"_ _3\"></span>.9%In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s<span class=\"_ _1bf\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>0,9<span class=\"_ _3\"></span>47<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-265,437</span></span>-265<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>00Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _229\"> </span><span class=\"lsed ws10a\">-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76</span></span>-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302Adjusted E<span class=\"_ _0\"></span>BIT<span class=\"_ _22b\"> </span><span class=\"lsfc ws119\">90<span class=\"_ _3\"></span>,143<span class=\"_ _be\"> </span><span class=\"lse7 ws104\">19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3</span></span>10,1<span class=\"_ _3\"></span>80Ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>d EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _22c\"> </span><span class=\"ls106 ws123\">8.<span class=\"_ _3\"></span>5%<span class=\"_ _1fc\"> </span>2<span class=\"_ _3\"></span>.4%</span>1.3%Restructuring and<span class=\"_ _0\"></span> impairments<span class=\"_ _22d\"> </span><span class=\"lsfe ws11b\">-2,5<span class=\"_ _3\"></span>00<span class=\"_ _d2\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,420</span></span>-14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3EBIT<span class=\"_ _22e\"> </span><span class=\"ls199 wsd9\">8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _be\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>2,953</span></span>-4,<span class=\"_ _3\"></span>332EBI<span class=\"_ _3\"></span>T as % of s<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>les<span class=\"_ _22f\"> </span><span class=\"lsee ws10b\">8.<span class=\"_ _3\"></span>3%<span class=\"_ _8d\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>6%</span></span>-<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>6%In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1f7\"> </span>N<span class=\"_ _3\"></span>ote<span class=\"_ _d0\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _231\"> </span>9<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>143<span class=\"_ _1b0\"> </span><span class=\"lse3 ws100\">19,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>3<span class=\"_ _d2\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>0</span></span>Depreciations and amor<span class=\"_ _3\"></span>tizations936<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _d2\"> </span><span class=\"lse3 ws100\">39,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _bc\"> </span><span class=\"lse7 ws104\">43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83</span></span>EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _232\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _e1\"> </span><span class=\"lsf1 ws10e\">58,509<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _3\"></span>,563</span></span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s<span class=\"_ _233\"> </span>12<span class=\"_ _3\"></span>.0%<span class=\"_ _1fc\"> </span><span class=\"ls1ae ws280\">7.<span class=\"_ _1\"> </span>3<span class=\"_ _1\"></span>%<span class=\"_ _8d\"> </span>7.<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>%</span>Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d topl<span class=\"_ _3\"></span>ine a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er g<span class=\"_ _3\"></span>ross p<span class=\"_ _3\"></span>rofit m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>ns in 2022 resu<span class=\"_ _3\"></span>lted in an i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA ma<span class=\"_ _3\"></span>rgin by 4<span class=\"_ _3\"></span>.7 pe<span class=\"_ _3\"></span>r<span class=\"ws4\">-</span>centa<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, la<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>t 12<span class=\"_ _3\"></span>% in 2022 (+68 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro ab<span class=\"_ _3\"></span>ove las<span class=\"_ _3\"></span>t year), co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to an EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA marg<span class=\"_ _3\"></span>in of 7<span class=\"_ _0\"></span>.3% o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 7<span class=\"_ _3\"></span>% in 2020. In 2022 d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>reciat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are 2.8 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2021<span class=\"_ _3\"></span>, exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d by fu<span class=\"_ _3\"></span>lly a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tized sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are an<span class=\"_ _3\"></span>d acq<span class=\"_ _3\"></span>uired k<span class=\"_ _3\"></span>now<span class=\"_ _3\"></span>-how i<span class=\"_ _3\"></span>n 2022.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _10e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _183\"> </span>2021<span class=\"_ _183\"> </span>2020</span>Product<span class=\"_ _0\"></span> sales<span class=\"_ _af\"> </span>882,0<span class=\"_ _3\"></span>52<span class=\"_ _94\"> </span>83%<span class=\"_ _c4\"> </span><span class=\"lsed ws10a\">663,034 <span class=\"_ _151\"> </span></span>8<span class=\"_ _3\"></span>3%<span class=\"_ _d4\"> </span><span class=\"lsed ws10a\">639,667<span class=\"_ _0\"></span> <span class=\"_ _10c\"> </span><span class=\"lsee ws10b\">83%</span></span>Project<span class=\"_ _0\"></span> sales<span class=\"_ _1ad\"> </span>73<span class=\"_ _3\"></span>,920<span class=\"_ _8e\"> </span><span class=\"ls191 ws255\">7%<span class=\"_ _10f\"> </span><span class=\"ls4 ws4\">65<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87 <span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">8%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _7b\"> </span></span></span></span>7%</span>Service sales<span class=\"_ _13\"> </span><span class=\"lsde wsfb\">102,<span class=\"_ _3\"></span>318<span class=\"_ _10\"> </span>10<span class=\"_ _3\"></span>%<span class=\"_ _fe\"> </span><span class=\"lsdd wsfa\">75<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>7 <span class=\"_ _60\"> </span><span class=\"lsf5 ws112\">9%<span class=\"_ _89\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _9c\"> </span></span></span></span>10%</span>Sales<span class=\"_ _225\"> </span>1,058,<span class=\"_ _3\"></span>291<span class=\"_ _1d1\"> </span><span class=\"lsda wsf7\">804,288 <span class=\"_ _230\"> </span><span class=\"ls131 ws161\">770,083 </span></span>Maj<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>lates to p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s (in 2022: 83%<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span> 2021: 83%<span class=\"_ _3\"></span>, in 2020: 83%<span class=\"_ _3\"></span>). Projec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>t 7-8% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2020<span class=\"_ _3\"></span>-2022 a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de co<span class=\"_ _3\"></span>mbi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d sa<span class=\"_ _3\"></span>les f<span class=\"_ _3\"></span>rom pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ices<span class=\"_ _3\"></span>. Mo<span class=\"_ _3\"></span>st of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t sa<span class=\"_ _3\"></span>les h<span class=\"_ _3\"></span>ave a lifeti<span class=\"_ _3\"></span>me of l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n on<span class=\"_ _3\"></span>e year. The s<span class=\"_ _3\"></span>hare of<span class=\"_ _3\"></span> ser<span class=\"_ _1\"></span>vice s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s in 2022 is 10% of tota<span class=\"_ _3\"></span>l sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>2021:9%<span class=\"_ _3\"></span>, 2020: 10%).We refer to note 2 '<span class=\"_ _3\"></span>Se<span class=\"_ _3\"></span>gm<span class=\"_ _3\"></span>ent In<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n' an<span class=\"_ _3\"></span>d to the ch<span class=\"_ _3\"></span>apter \u2018Our resul<span class=\"_ _0\"></span>ts\u2019 for m<span class=\"_ _3\"></span>ore exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e fro<span class=\"_ _3\"></span>m operations.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l prod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ect s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt to 956.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 2022. We refer to t<span class=\"_ _3\"></span>he <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU ta<span class=\"_ _3\"></span>xono<span class=\"_ _3\"></span>my on p<span class=\"_ _3\"></span>. 59<span class=\"fc16 ls4 ws4\"> </span></span>for th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my el<span class=\"_ _3\"></span>igi<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>urn<span class=\"_ _3\"></span>over i<span class=\"_ _3\"></span>n 2022.Ind<span class=\"_ _3\"></span>ire<span class=\"_ _3\"></span>ct cos<span class=\"_ _3\"></span>ts an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ating i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es) - ne<span class=\"_ _3\"></span>tInd<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 2022 d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>sed to 30<span class=\"_ _3\"></span>.3 % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es (2021: 3<span class=\"_ _3\"></span>3%<span class=\"_ _3\"></span>, 2020: 34.<span class=\"_ _3\"></span>5%). In ab<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ute num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>rs in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s increa<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y hig<span class=\"_ _3\"></span>h inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt as a re<span class=\"_ _3\"></span>sult of resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>ls a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d. Ind<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 were i<span class=\"_ _3\"></span>n lin<span class=\"_ _3\"></span>e wit<span class=\"_ _3\"></span>h 2020, a resu<span class=\"_ _3\"></span>lt of ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ing cos<span class=\"_ _3\"></span>t cont<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ted temporary work arrangemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and ec<span class=\"_ _0\"></span>onomic unemployment<span class=\"_ _0\"></span> measur<span class=\"_ _0\"></span>es for bo<span class=\"_ _0\"></span>th white<span class=\"_ _0\"></span> and blue c<span class=\"_ _0\"></span>ollars, while sustaining<span class=\"_ _0\"></span> inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ategi<span class=\"_ _3\"></span>c proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. Bo<span class=\"_ _3\"></span>th in 202<span class=\"_ _3\"></span>1 and 2020, t<span class=\"_ _3\"></span>he ne<span class=\"_ _3\"></span>gati<span class=\"_ _3\"></span>ve im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny\u2019s to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s pre covi<span class=\"_ _3\"></span>d was<span class=\"_ _3\"></span> hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e redu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n in<span class=\"_ _3\"></span>direc<span class=\"_ _3\"></span>t cost<span class=\"_ _3\"></span>s v<span class=\"_ _3\"></span>ia cost m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures coul<span class=\"_ _0\"></span>d compensa<span class=\"_ _0\"></span>te f<span class=\"_ _0\"></span>or<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _234\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>20<span class=\"_ _3\"></span>21<span class=\"_ _1dc\"> </span>2020</span>Res<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _10e\"> </span>(a)<span class=\"_ _6a\"> </span>-1<span class=\"_ _1\"></span>20,<span class=\"_ _3\"></span>493<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-101<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _65\"> </span><span class=\"lsde wsfb\">-102,<span class=\"_ _3\"></span>610</span></span>Sales and<span class=\"_ _0\"></span> marketing e<span class=\"_ _0\"></span>xpenses<span class=\"_ _19f\"> </span>(b)<span class=\"_ _11\"> </span>-<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"ls19a ws26f\">-11<span class=\"_ _0\"></span>6,2<span class=\"_ _0\"></span>40<span class=\"_ _11\"> </span><span class=\"ls19b ws270\">-<span class=\"_ _0\"></span>112,32<span class=\"_ _0\"></span>9</span></span>General and admini<span class=\"_ _0\"></span>stration expenses<span class=\"_ _10e\"> </span>(c)<span class=\"_ _bc\"> </span>-57<span class=\"_ _0\"></span>,714<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _4\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _78\"> </span><span class=\"ls131 ws161\">-50,<span class=\"_ _3\"></span>362</span></span>Indirect costs<span class=\"_ _1b6\"> </span>-320,947<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et<span class=\"_ _17c\"> </span>(d)<span class=\"_ _cc\"> </span>-1,663<span class=\"_ _22a\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>676<span class=\"_ _d2\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302</span></span>In<span class=\"_ _3\"></span>dir<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me (e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es) - n<span class=\"_ _3\"></span>et <span class=\"_ _17a\"> </span>-322,610<span class=\"_ _76\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _76\"> </span>-27<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>03</span>(a<span class=\"_ _0\"></span>) Researc<span class=\"_ _0\"></span>h and dev<span class=\"_ _0\"></span>elopment e<span class=\"_ _0\"></span>xpensesRese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>re spre<span class=\"_ _3\"></span>ad ove<span class=\"_ _3\"></span>r the d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as fo<span class=\"_ _3\"></span>llows:In 2<span class=\"_ _0\"></span>022 res<span class=\"_ _0\"></span>earch<span class=\"_ _0\"></span> and development e<span class=\"_ _0\"></span>xpenses repr<span class=\"_ _0\"></span>esent 11.4% of sa<span class=\"_ _3\"></span>les (<span class=\"_ _3\"></span>12.6% in 202<span class=\"_ _3\"></span>1; 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>3% in 2020). In abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te numb<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nses h<span class=\"_ _3\"></span>ave in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 120<span class=\"_ _3\"></span>.5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro. I<span class=\"_ _3\"></span>n 2020 and 202<span class=\"_ _3\"></span>1, t<span class=\"_ _3\"></span>he lowe<span class=\"_ _3\"></span>r abs<span class=\"_ _3\"></span>olu<span class=\"_ _3\"></span>te level of resea<span class=\"_ _3\"></span>rch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ses w<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of cost conta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n as resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>se to the cov<span class=\"_ _3\"></span>id cris<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, h<span class=\"_ _3\"></span>owever, contin<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>d inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct road<span class=\"_ _3\"></span>map to su<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xten<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s techn<span class=\"_ _3\"></span>olo<span class=\"_ _3\"></span>gy leadership<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>osit<span class=\"_ _0\"></span>ion.On<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>e cost rel<span class=\"_ _3\"></span>ated to rese<span class=\"_ _3\"></span>arch an<span class=\"_ _3\"></span>d deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt is con<span class=\"_ _3\"></span>sid<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>erefore in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d in EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le Op<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>. We refer to the <span class=\"fc2\">n<span class=\"_ _3\"></span>ote on EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy o<span class=\"_ _3\"></span>n p. 61</span><span class=\"ls2a ws5b\"> for<span class=\"_ _3\"></span> th<span class=\"_ _3\"></span>e </span>EU taxo<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>my eli<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>x in 2022. (b) Sal<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>rketin<span class=\"_ _3\"></span>g expe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>esIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1b4\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"_ _86\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esT<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al r<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ear<span class=\"_ _3\"></span>ch &amp; d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>es1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,493<span class=\"_ _98\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>4%<span class=\"_ _108\"> </span><span class=\"lse6 ws103\">101<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>38<span class=\"_ _53\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.6%<span class=\"_ _108\"> </span></span>10<span class=\"_ _3\"></span>2,610<span class=\"_ _148\"> </span><span class=\"lsfe ws11b\">13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3%</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esSales and marketing expen<span class=\"_ _3\"></span>ses14<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>0<span class=\"_ _149\"> </span>1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5%<span class=\"_ _108\"> </span><span class=\"ls167 ws22d\">1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>0<span class=\"_ _148\"> </span></span>14<span class=\"_ _3\"></span>.5%<span class=\"_ _1a0\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,329<span class=\"_ _148\"> </span><span class=\"ls4 ws4\">14<span class=\"_ _3\"></span>.6%</span></span>Sa<span class=\"_ _3\"></span>les a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>ing e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e all i<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>rect cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d to the s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n wh<span class=\"_ _3\"></span>ich are n<span class=\"_ _3\"></span>ot bi<span class=\"_ _3\"></span>lled a<span class=\"_ _3\"></span>s par<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f a prod<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>uc<span class=\"_ _3\"></span>t or se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce to the cu<span class=\"_ _3\"></span>stom<span class=\"_ _3\"></span>er as w<span class=\"_ _3\"></span>ell a<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to regional or<span class=\"_ _0\"></span> divisional market<span class=\"_ _0\"></span>ing activities. Sales and mark<span class=\"_ _0\"></span>eting exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are 1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 14.5% in 2021 an<span class=\"_ _3\"></span>d 2020. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>bsol<span class=\"_ _3\"></span>ute increa<span class=\"_ _3\"></span>se in 202<span class=\"_ _3\"></span>2 is th<span class=\"_ _3\"></span>e result of inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in h<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>count<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y l<span class=\"_ _3\"></span>evel resu<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d, e.g<span class=\"_ _3\"></span>. trave<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>, pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covid<span class=\"_ _3\"></span>. (c<span class=\"_ _0\"></span>) General and ad<span class=\"_ _0\"></span>ministra<span class=\"_ _0\"></span>tion expensesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cb\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _97\"> </span></span>% of sal<span class=\"_ _3\"></span>es<span class=\"_ _8b\"> </span><span class=\"ls198 ws26e\">2021<span class=\"_ _57\"> </span></span>% o<span class=\"_ _3\"></span>f sa<span class=\"_ _3\"></span>les<span class=\"_ _51\"> </span><span class=\"ls198 ws26e\">2020<span class=\"_ _57\"> </span></span>% of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>esGenera<span class=\"_ _3\"></span>l and administration e<span class=\"_ _0\"></span>xp<span class=\"_ _3\"></span>enses5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _df\"> </span></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _f\"> </span>6.0%<span class=\"_ _18c\"> </span><span class=\"ls131 ws161\">50,<span class=\"_ _3\"></span>362<span class=\"_ _b9\"> </span><span class=\"lse0 wsfd\">6.<span class=\"_ _3\"></span>5%</span></span>Ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l and a<span class=\"_ _3\"></span>dm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es in 202<span class=\"_ _3\"></span>2 are at 5.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, dow<span class=\"_ _3\"></span>n 1 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>oin<span class=\"_ _3\"></span>t vers<span class=\"_ _3\"></span>us prev<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>us year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n abs<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lute nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h alm<span class=\"_ _3\"></span>ost 10 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, du<span class=\"_ _3\"></span>e to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he inf<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in Europ<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d Am<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>as on pe<span class=\"_ _3\"></span>rso<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her cos<span class=\"_ _3\"></span>t of recr<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt as a resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pos<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s back to a n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal<span class=\"_ _3\"></span> level.In 2021 a<span class=\"_ _3\"></span>nd 2020 ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s were low<span class=\"_ _3\"></span>er as a a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he co<span class=\"_ _0\"></span>vid<span class=\"_ _3\"></span>-relat<span class=\"_ _0\"></span>ed measures<span class=\"_ _0\"></span> taken.Stead<span class=\"_ _3\"></span>y inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in I<span class=\"_ _3\"></span>T sy<span class=\"_ _3\"></span>stem<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>st yea<span class=\"_ _3\"></span>rs h<span class=\"_ _3\"></span>ave led to IT cost<span class=\"_ _3\"></span>s (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>ons o<span class=\"_ _3\"></span>n SA<span class=\"_ _3\"></span>P ERP sy<span class=\"_ _3\"></span>stem) re<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span><span class=\"ws4\">-</span>rese<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jor p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of G<span class=\"_ _3\"></span>&amp;A expe<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s (2022: 42%<span class=\"_ _3\"></span>, 2021: 47%<span class=\"_ _3\"></span>, 2020: 45%).(d) Oth<span class=\"_ _3\"></span>er op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g inco<span class=\"_ _3\"></span>me (exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) \u2013 netIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of B<span class=\"_ _3\"></span>arco<span class=\"_ _3\"></span>CFG <span class=\"_ _236\"> </span>(a)<span class=\"_ _70\"> </span>2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _70\"> </span><span class=\"lsde wsfb\">3,028<span class=\"_ _70\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>07</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>ons (n<span class=\"_ _3\"></span>et o<span class=\"_ _3\"></span>f wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s of w<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs)<span class=\"_ _2b\"> </span>(b)<span class=\"_ _76\"> </span>-24<span class=\"_ _3\"></span>3<span class=\"_ _6a\"> </span><span class=\"ls168 ws169\">448<span class=\"_ _94\"> </span><span class=\"lsdd wsfa\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>697</span></span>Cos<span class=\"_ _3\"></span>t of sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _213\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8<span class=\"_ _ff\"> </span><span class=\"lsf5 ws112\">-3,0<span class=\"_ _3\"></span>67<span class=\"_ _9c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>07</span></span>Exc<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s (ne<span class=\"_ _3\"></span>t)<span class=\"_ _208\"> </span>-<span class=\"_ _3\"></span>672<span class=\"_ _ad\"> </span><span class=\"lsed ws10a\">-63<span class=\"_ _9c\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>3,10<span class=\"_ _3\"></span>9</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (n<span class=\"_ _3\"></span>et of a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns an<span class=\"_ _3\"></span>d rev<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls o<span class=\"_ _3\"></span>f prov<span class=\"_ _3\"></span>is<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns)<span class=\"_ _103\"> </span>(c)<span class=\"_ _e1\"> </span>72<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\">-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>59<span class=\"_ _151\"> </span><span class=\"lsed ws10a\">-4,609</span></span>Bank char<span class=\"_ _0\"></span>ges<span class=\"_ _237\"> </span>-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>39<span class=\"_ _76\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _235\"> </span><span class=\"ls138 ws167\">-9<span class=\"_ _3\"></span>02</span></span>Cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s<span class=\"_ _20b\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>230<span class=\"_ _62\"> </span><span class=\"ls42 ws6f\">-571<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>28</span></span>Ga<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>s/(Los<span class=\"_ _3\"></span>s) on d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>al o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _f3\"> </span>1,6<span class=\"_ _3\"></span>70<span class=\"_ _6e\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>24<span class=\"_ _bc\"> </span><span class=\"lsdc wsf9\">14</span></span>Other (<span class=\"_ _0\"></span>net)<span class=\"_ _238\"> </span>-1,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>37<span class=\"_ _9c\"> </span><span class=\"lsfe ws11b\">-2,438<span class=\"_ _10\"> </span><span class=\"ls138 ws167\">2,02<span class=\"_ _3\"></span>9</span></span>Other opera<span class=\"_ _0\"></span>ting income<span class=\"_ _0\"></span> (expense<span class=\"_ _0\"></span>)<span class=\"_ _239\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _ff\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>6<span class=\"_ _4b\"> </span><span class=\"lsee ws10b\">-8,<span class=\"_ _3\"></span>302</span></span>(<span class=\"_ _0\"></span>a)<span class=\"_ _0\"></span> <span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>he 49% sh<span class=\"_ _3\"></span>are in th<span class=\"_ _3\"></span>e net re<span class=\"_ _3\"></span>sult of B<span class=\"_ _3\"></span>arcoCFG is re<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sente<span class=\"_ _3\"></span>d in EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _1\"></span>. See n<span class=\"_ _3\"></span>ote 1<span class=\"_ _3\"></span>1. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult of t<span class=\"_ _3\"></span>he rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g pan<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c-<span class=\"_ _3\"></span>rela<span class=\"_ _3\"></span>ted ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n Chi<span class=\"_ _3\"></span>na (esp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y on th<span class=\"_ _3\"></span>e cin<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ema b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>es), the 202<span class=\"_ _3\"></span>2 resu<span class=\"_ _3\"></span>lts o<span class=\"_ _3\"></span>f the Ch<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ese ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma joi<span class=\"_ _3\"></span>nt-ve<span class=\"_ _3\"></span>ntu<span class=\"_ _3\"></span>re are at th<span class=\"_ _3\"></span>e lowes<span class=\"_ _3\"></span>t p<span class=\"_ _3\"></span>oint<span class=\"_ _3\"></span>, si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct on t<span class=\"_ _3\"></span>he ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma bu<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s (2020). (b<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>A li<span class=\"_ _3\"></span>mited e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n is set-<span class=\"_ _3\"></span>up (<span class=\"_ _3\"></span>2022: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; <span class=\"_ _0\"></span>202<span class=\"_ _3\"></span>1: +0.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n rever-sa<span class=\"_ _3\"></span>l), ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k of it<span class=\"_ _3\"></span>s custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs rel<span class=\"_ _3\"></span>ated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>ared to 2020. T<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xt<span class=\"_ _3\"></span>ra prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n rec<span class=\"_ _0\"></span>orded in<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>0 (1.5 million<span class=\"_ _0\"></span> euro)<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed a r<span class=\"_ _0\"></span>eduction in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiva<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l pandemic. (c) <span class=\"_ _3\"></span>We refer to note 19 '<span class=\"_ _3\"></span>Provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns'<span class=\"_ _0\"></span>.4. Revenues and expenses by na<span class=\"_ _0\"></span>tureIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23a\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _38\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _38\"> </span>2020</span>Sales1,0<span class=\"_ _3\"></span>58,<span class=\"_ _3\"></span>291<span class=\"_ _1fc\"> </span><span class=\"lsde wsfb\">80<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _8f\"> </span><span class=\"lse0 wsfd\">7<span class=\"_ _3\"></span>70,0<span class=\"_ _3\"></span>83</span></span>Mate<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>st-5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>50%<span class=\"_ _19d\"> </span>-<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>8<span class=\"_ _df\"> </span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4%<span class=\"_ _ee\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>393<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>1<span class=\"_ _c4\"> </span></span>-<span class=\"_ _3\"></span>51%Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s-106<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>9<span class=\"_ _c4\"> </span>-10%<span class=\"_ _104\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>94<span class=\"_ _3\"></span>2<span class=\"_ _51\"> </span><span class=\"lsf5 ws112\">-9%<span class=\"_ _104\"> </span></span>-7<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>65<span class=\"_ _17e\"> </span></span>-10%Per<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>el co<span class=\"_ _3\"></span>st (a)-289,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>08<span class=\"_ _c3\"> </span>-27<span class=\"_ _3\"></span>%<span class=\"_ _57\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>241<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _df\"> </span></span>-3<span class=\"_ _3\"></span>0%<span class=\"_ _2f\"> </span><span class=\"lse0 wsfd\">-23<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>392<span class=\"_ _c4\"> </span><span class=\"lsde wsfb\">-31<span class=\"_ _3\"></span>%</span></span>Deprecia<span class=\"_ _0\"></span>tion property,<span class=\"_ _0\"></span> plant, equipment and<span class=\"_ _0\"></span> soft<span class=\"_ _3\"></span>ware-36<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331<span class=\"_ _bd\"> </span>-3%<span class=\"_ _105\"> </span>-39,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>36<span class=\"_ _bd\"> </span>-5%<span class=\"_ _c7\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _1\"></span>43,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>83<span class=\"_ _51\"> </span>-<span class=\"_ _3\"></span>6%</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e) - net (n<span class=\"_ _3\"></span>ote 3<span class=\"_ _3\"></span>)-1,663<span class=\"_ _b9\"> </span>0%<span class=\"_ _4c\"> </span><span class=\"lsdd wsfa\">-2<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>76<span class=\"_ _f\"> </span></span>0%<span class=\"_ _194\"> </span><span class=\"ls138 ws167\">-<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>302<span class=\"_ _86\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>%</span></span>Adjusted E<span class=\"_ _0\"></span>BIT90<span class=\"_ _3\"></span>,143<span class=\"_ _b9\"> </span>9%<span class=\"_ _e7\"> </span>19,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _b9\"> </span>2%<span class=\"_ _f2\"> </span><span class=\"lse6 ws103\">10,18<span class=\"_ _3\"></span>0<span class=\"_ _89\"> </span><span class=\"ls12f ws159\">1%</span></span>Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2022 i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>ith 103 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro or 24<span class=\"_ _0\"></span>% comp<span class=\"_ _3\"></span>ared to 202<span class=\"_ _3\"></span>1 whi<span class=\"_ _3\"></span>ch is in li<span class=\"_ _3\"></span>ne w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d top li<span class=\"_ _3\"></span>ne (<span class=\"_ _0\"></span>+<span class=\"_ _0\"></span>32<span class=\"_ _3\"></span>%). Al<span class=\"_ _3\"></span>so, in 202<span class=\"_ _3\"></span>2 mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ces du<span class=\"_ _3\"></span>e to infl<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ly sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s the to<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ne i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>tron<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al cos<span class=\"_ _3\"></span>t we see a rela<span class=\"_ _3\"></span>tive i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>roveme<span class=\"_ _3\"></span>nt of t<span class=\"_ _3\"></span>he gros<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rgin o<span class=\"_ _3\"></span>f 4 pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge po<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. Mater<span class=\"_ _3\"></span>ial cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in 2021 in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed as p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to 2020, imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt pr<span class=\"_ _3\"></span>ices l<span class=\"_ _3\"></span>inke<span class=\"_ _3\"></span>d to sup<span class=\"_ _3\"></span>ply s<span class=\"_ _3\"></span>hor<span class=\"_ _1\"></span>tag<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost in 202<span class=\"_ _3\"></span>1 was 5<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>an 2020, but s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l 46 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pre covi<span class=\"_ _3\"></span>d level a<span class=\"_ _3\"></span>s a result of t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y measur<span class=\"_ _0\"></span>es and exec<span class=\"_ _0\"></span>uted r<span class=\"_ _0\"></span>estructuring lay-offs In 2020 an<span class=\"_ _3\"></span>d 2021 th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o ent<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ed sh<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>ann<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>terns o<span class=\"_ _3\"></span>n se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term in<span class=\"_ _3\"></span>itia<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d a sus<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d str<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>t disci<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ine o<span class=\"_ _3\"></span>n dis<span class=\"_ _3\"></span>cretio<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y sp<span class=\"_ _3\"></span>end<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (e.g. t<span class=\"_ _3\"></span>rave<span class=\"_ _3\"></span>l, m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g spe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, cons<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>,\u2026 )<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any ma<span class=\"_ _3\"></span>de de<span class=\"_ _3\"></span>lib<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ate cho<span class=\"_ _3\"></span>ices on t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd ti<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le of se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted i<span class=\"_ _3\"></span>ntern<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>l su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in fu<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e focus s<span class=\"_ _3\"></span>hif<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is ha<span class=\"_ _3\"></span>s resu<span class=\"_ _3\"></span>lted in 8 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2020: 32.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro) lower s<span class=\"_ _3\"></span>er<span class=\"ws4\">-</span>vice<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r cost<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce in 2022 a<span class=\"_ _3\"></span>nd ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n ser<span class=\"_ _1\"></span>vices a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r co<span class=\"_ _0\"></span>st<span class=\"_ _3\"></span>s, toget<span class=\"_ _0\"></span>her with higher i<span class=\"_ _0\"></span>nflation and c<span class=\"_ _0\"></span>ontractors hir<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> fi<span class=\"_ _3\"></span>ll temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y g<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r recr<span class=\"_ _3\"></span>uiti<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low prov<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>s info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n on th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r items contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utin<span class=\"_ _3\"></span>g to the a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d EBIT, categor<span class=\"_ _3\"></span>ized by nat<span class=\"_ _3\"></span>ure.(see <span class=\"_ _3\"></span><span class=\"fc2 lsf ws38\">note<span class=\"_ _0\"></span> 5. Restructuring and impairments<span class=\"_ _0\"></span><span class=\"fc0 ls2d ws1a\">) to a<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>n cost<span class=\"_ _3\"></span>s </span></span>wit<span class=\"_ _3\"></span>h lower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d as a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny ha<span class=\"_ _3\"></span>s implement<span class=\"_ _0\"></span>ed temporary work arr<span class=\"_ _0\"></span>angem<span class=\"_ _3\"></span>ents and ec<span class=\"_ _0\"></span>onomic un<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>s as of 2020 for b<span class=\"_ _3\"></span>oth w<span class=\"_ _3\"></span>hite an<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>lue coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in con<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y wit<span class=\"_ _3\"></span>h count<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l fr<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>wor<span class=\"_ _3\"></span>ks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulations. Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2020 ca<span class=\"_ _3\"></span>n be ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed by re<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>ced une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t mea<span class=\"_ _3\"></span>sures<span class=\"_ _3\"></span>, low<span class=\"_ _3\"></span>er wa<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>ubsi<span class=\"_ _3\"></span>die<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>ved a<span class=\"_ _3\"></span>nd me<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>s (se<span class=\"_ _3\"></span>e \u2018Re<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t for f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l yea<span class=\"_ _3\"></span>r 2021\u2019 in corporat<span class=\"_ _0\"></span>e gov<span class=\"_ _0\"></span>ernance chap<span class=\"_ _0\"></span>ter)<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any w<span class=\"_ _3\"></span>as ab<span class=\"_ _3\"></span>le to ap<span class=\"_ _3\"></span>ply fo<span class=\"_ _3\"></span>r wag<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r the ena<span class=\"_ _3\"></span>cted Co<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>-19 re<span class=\"_ _3\"></span>lief le<span class=\"_ _3\"></span>gis<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion i<span class=\"_ _3\"></span>n APAC and C<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>da for 0.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (2020: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, the<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>so i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g Cinionic<span class=\"_ _0\"></span> US)<span class=\"_ _0\"></span>.Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>l cost i<span class=\"_ _3\"></span>n 2022 is 4<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>han 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>, as a resu<span class=\"_ _3\"></span>lt of in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d hea<span class=\"_ _3\"></span>dco<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, inf<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n and h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her b<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nus<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s Barco\u2019s ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y r<span class=\"_ _3\"></span>ate is incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g ag<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d we saw an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of f<span class=\"_ _3\"></span>ull<span class=\"_ _3\"></span>-t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster of 202<span class=\"_ _3\"></span>2, an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y personnel compar<span class=\"_ _0\"></span>ed to<span class=\"_ _0\"></span> 2021.a) Per<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>nel c<span class=\"_ _3\"></span>ostIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Wages<span class=\"_ _0\"></span> and salaries<span class=\"_ _ac\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1ef\"> </span><span class=\"ls106 ws123\">-194,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>51<span class=\"_ _ae\"> </span><span class=\"lsfb ws118\">-189,654</span></span>So<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _f6\"> </span>-<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _150\"> </span><span class=\"lsf0 ws10d\">-26<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>42<span class=\"_ _144\"> </span><span class=\"lsfe ws11b\">-25,494</span></span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e for d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _23b\"> </span>-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>859<span class=\"_ _d3\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>339</span>T<span class=\"_ _0\"></span>emporary labour<span class=\"_ _23c\"> </span>-<span class=\"_ _3\"></span>4,004<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>61<span class=\"_ _90\"> </span><span class=\"lsed ws10a\">-2,388</span></span>Recruiting expenses<span class=\"_ _1b8\"> </span>-2,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span>-1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>52</span>Other personnel c<span class=\"_ _0\"></span>ost<span class=\"_ _23d\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>8<span class=\"_ _cb\"> </span><span class=\"lsf5 ws112\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,301<span class=\"_ _cb\"> </span><span class=\"lsed ws10a\">-2,<span class=\"_ _0\"></span>966</span></span>Personnel cost<span class=\"_ _23c\"> </span>-2<span class=\"_ _0\"></span>89,308<span class=\"_ _8d\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>03<span class=\"_ _8d\"> </span>-2<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2</span>Personnel c<span class=\"_ _0\"></span>ost incl<span class=\"_ _0\"></span>udes the co<span class=\"_ _0\"></span>st for t<span class=\"_ _0\"></span>emporar<span class=\"_ _3\"></span>y personnel for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 4 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (in 202<span class=\"_ _3\"></span>1: 1.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, i<span class=\"_ _3\"></span>n 2020: 2.4 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro). Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of f<span class=\"_ _3\"></span>ull t<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>nts c<span class=\"_ _3\"></span>an b<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>lit as fo<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ws:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _3f\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _da\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1d0\"> </span>2020</span>Ba<span class=\"_ _3\"></span>rco NV (<span class=\"_ _3\"></span>par<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>y)<span class=\"_ _20d\"> </span><span class=\"ls133 ws162\">1<span class=\"_ _3\"></span>,196<span class=\"_ _22\"> </span>1,199<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>282</span></span>Other subsidi<span class=\"_ _0\"></span>aries<span class=\"_ _165\"> </span>2,004<span class=\"_ _2b\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>,941<span class=\"_ _da\"> </span><span class=\"ls3c ws48\">2,237</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>ver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>l tim<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _ba\"> </span>3,<span class=\"_ _3\"></span>200<span class=\"_ _1d0\"> </span><span class=\"ls109 ws126\">3,140<span class=\"_ _1d0\"> </span><span class=\"ls10e ws12b\">3,<span class=\"_ _3\"></span>519</span></span>Aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>ees i<span class=\"_ _3\"></span>n 2022 wa<span class=\"_ _3\"></span>s 3,<span class=\"_ _3\"></span>200 (ve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>us 3,140 in 202<span class=\"_ _3\"></span>1; 3,<span class=\"_ _3\"></span>519 i<span class=\"_ _3\"></span>n 2020), inclu<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng 2,628 w<span class=\"_ _3\"></span>hite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>coll<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s (in 2021<span class=\"_ _3\"></span>: 2,<span class=\"_ _3\"></span>555, i<span class=\"_ _3\"></span>n 2020: 2,738<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d 572 b<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>colla<span class=\"_ _3\"></span>rs (i<span class=\"_ _3\"></span>n 2021: 585<span class=\"_ _3\"></span>, in 2020: 781). Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e leve<span class=\"_ _3\"></span>l of ble<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>coll<span class=\"_ _3\"></span>ars i<span class=\"_ _3\"></span>n 2022 is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch resu<span class=\"_ _3\"></span>lted in tem<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>rar<span class=\"_ _1\"></span>y une<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>irs<span class=\"_ _3\"></span>t ha<span class=\"_ _3\"></span>lf of th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.Full ti<span class=\"_ _3\"></span>me e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>s at ye<span class=\"_ _3\"></span>ar en<span class=\"_ _3\"></span>d 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt to 3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>99 (ver<span class=\"_ _3\"></span>sus 3,1<span class=\"_ _3\"></span>33 e<span class=\"_ _3\"></span>nd of 2021<span class=\"_ _3\"></span>; 3,<span class=\"_ _3\"></span>317 en<span class=\"_ _3\"></span>d of 2020), in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g 2,724 white coll<span class=\"_ _3\"></span>ars (<span class=\"_ _3\"></span>2021: 2,<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>8, in 2020: 2,6<span class=\"_ _3\"></span>71) a<span class=\"_ _3\"></span>nd 57<span class=\"_ _3\"></span>5 blu<span class=\"_ _3\"></span>e coll<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s (in 2021: 56<span class=\"_ _3\"></span>5, in 2020: 6<span class=\"_ _3\"></span>46).In 2020, th<span class=\"_ _3\"></span>e Comp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as imp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nted temp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y wo<span class=\"_ _3\"></span>rk arrangements and ec<span class=\"_ _0\"></span>onomic unemployment<span class=\"_ _0\"></span> measures<span class=\"_ _0\"></span> for bot<span class=\"_ _3\"></span>h wh<span class=\"_ _3\"></span>ite and b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e coll<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, in co<span class=\"_ _3\"></span>nform<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>ith cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic legal framew<span class=\"_ _0\"></span>orks<span class=\"_ _3\"></span>, support mechanisms<span class=\"_ _0\"></span> and regulation<span class=\"_ _0\"></span>s<span class=\"_ _3\"></span>. In<span class=\"_ _0\"></span> 2021 temp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>rar<span class=\"_ _1\"></span>y meas<span class=\"_ _3\"></span>ures we<span class=\"_ _3\"></span>re ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed for a l<span class=\"_ _3\"></span>imi<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st h<span class=\"_ _3\"></span>alf yea<span class=\"_ _3\"></span>r on<span class=\"_ _3\"></span>ly, in conform<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>ith cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al f<span class=\"_ _3\"></span>ram<span class=\"_ _3\"></span>ewo<span class=\"_ _3\"></span>rks a<span class=\"_ _3\"></span>nd m<span class=\"_ _3\"></span>ore s<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>l mea<span class=\"_ _3\"></span>sures w<span class=\"_ _3\"></span>ere ta<span class=\"_ _3\"></span>ken. A<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d ha<span class=\"_ _3\"></span>lf of 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny noted a<span class=\"_ _3\"></span>n incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of vo<span class=\"_ _3\"></span>lunt<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y leaver<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed in t<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>rst h<span class=\"_ _3\"></span>alf o<span class=\"_ _3\"></span>f 2022. T<span class=\"_ _3\"></span>here i<span class=\"_ _3\"></span>s a lag<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the re<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>acem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>ose p<span class=\"_ _3\"></span>ositi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly o<span class=\"_ _3\"></span>ccurred i<span class=\"_ _3\"></span>n the s<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>d ha<span class=\"_ _3\"></span>lf of 2022. T<span class=\"_ _3\"></span>his ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of fu<span class=\"_ _3\"></span>llti<span class=\"_ _3\"></span>me eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lent<span class=\"_ _3\"></span>s at ye<span class=\"_ _3\"></span>ar-<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d 2022, w<span class=\"_ _3\"></span>hile t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es is l<span class=\"_ _3\"></span>ower a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins t<span class=\"_ _3\"></span>he low<span class=\"_ _3\"></span>er nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of full<span class=\"_ _0\"></span>time equivalents a<span class=\"_ _0\"></span>t year<span class=\"_ _0\"></span>-<span class=\"_ _3\"></span>end 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>, while<span class=\"_ _0\"></span> the personnel cost<span class=\"_ _3\"></span>s were s<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>l hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n in 2020.5. Restructuring and impairment costsTh<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>ble b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt cost<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized in t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>.A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of sca<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ng do<span class=\"_ _3\"></span>wn a<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly in th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>usin<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s uni<span class=\"_ _3\"></span>t La<span class=\"_ _3\"></span>rge V<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>eo Wall<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>unce<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of 2022, t<span class=\"_ _3\"></span>he Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as reco<span class=\"_ _3\"></span>rded 2.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s in 2022.In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>sig<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e orga<span class=\"_ _3\"></span>niz<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd se<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>ster a<span class=\"_ _3\"></span>nd a n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of cost dow<span class=\"_ _3\"></span>n mea<span class=\"_ _3\"></span>sures a<span class=\"_ _3\"></span>cross d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>ferent cou<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as record<span class=\"_ _3\"></span>ed 4<span class=\"_ _3\"></span>.9 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng (ca<span class=\"_ _3\"></span>sh) cost<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>cash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s of 1<span class=\"_ _3\"></span>.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro rel<span class=\"_ _3\"></span>ate to the rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of sh<span class=\"_ _3\"></span>are op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of fo<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span> me<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>ers<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny. Res<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng c<span class=\"_ _3\"></span>ash cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 0.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 (se<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>te 19 'P<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons'<span class=\"_ _3\"></span>), pai<span class=\"_ _3\"></span>d in 2022. I<span class=\"_ _3\"></span>n 2022 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd in 202<span class=\"_ _3\"></span>1 8.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro of res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g wa<span class=\"_ _3\"></span>s pai<span class=\"_ _3\"></span>d (see t<span class=\"_ _3\"></span>he Co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low).Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng cos<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re of the T<span class=\"_ _2\"></span>aiwanese Uni<span class=\"_ _0\"></span>see L<span class=\"_ _0\"></span>CM pr<span class=\"_ _0\"></span>oduction fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y and t<span class=\"_ _0\"></span>o reor<span class=\"_ _0\"></span>gani<span class=\"ls4 ws4\">-</span>zati<span class=\"_ _3\"></span>ons i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t and En<span class=\"_ _3\"></span>terp<span class=\"_ _3\"></span>rise d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used by th<span class=\"_ _3\"></span>e econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of t<span class=\"_ _3\"></span>he pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic on o<span class=\"_ _3\"></span>ur m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>kets<span class=\"_ _3\"></span>, wit<span class=\"_ _3\"></span>h the p<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e to adj<span class=\"_ _3\"></span>ust cos<span class=\"_ _3\"></span>t leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s to the low<span class=\"_ _3\"></span>er top<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>ut al<span class=\"_ _3\"></span>so w<span class=\"_ _3\"></span>ith th<span class=\"_ _3\"></span>e ai<span class=\"_ _3\"></span>m to have th<span class=\"_ _3\"></span>e rig<span class=\"_ _3\"></span>ht focus a<span class=\"_ _3\"></span>nd s<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>ture in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>l cris<span class=\"_ _3\"></span>is. A<span class=\"_ _3\"></span>ll 41<span class=\"_ _3\"></span>2 pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>ted we<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re the e<span class=\"_ _3\"></span>nd of 2020. R<span class=\"_ _3\"></span>est<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cas<span class=\"_ _3\"></span>h cost<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e a provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n for seve<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce of 3<span class=\"_ _3\"></span>.7 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro per 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2020 (see n<span class=\"_ _3\"></span>ote 19 '<span class=\"_ _3\"></span>Provis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s'), pa<span class=\"_ _3\"></span>id in 202<span class=\"_ _3\"></span>1. I<span class=\"_ _3\"></span>n 2020, 9.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on euro of re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g was p<span class=\"_ _3\"></span>aid (s<span class=\"_ _3\"></span>ee th<span class=\"_ _3\"></span>e Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt of cas<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ow).A<span class=\"_ _3\"></span>s the co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to move to a m<span class=\"_ _3\"></span>ore cost com<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>etiti<span class=\"_ _3\"></span>ve an<span class=\"_ _3\"></span>d nex<span class=\"_ _3\"></span>t g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n UniS<span class=\"_ _3\"></span>ee p<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>fo<span class=\"_ _3\"></span>rm, t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ust<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cess c<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e to a pivo<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. Af<span class=\"_ _1\"></span>ter caref<span class=\"_ _3\"></span>ul e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, B<span class=\"_ _3\"></span>arco\u2019s mana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt de<span class=\"_ _3\"></span>cid<span class=\"_ _3\"></span>ed to out<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>urce Un<span class=\"_ _3\"></span>iSee LCM (Liqu<span class=\"_ _3\"></span>id Cr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>ule)<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on as of t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d half<span class=\"_ _3\"></span> of 2020 an<span class=\"_ _3\"></span>d to phas<span class=\"_ _3\"></span>e out t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>nho<span class=\"_ _3\"></span>use U<span class=\"_ _3\"></span>niS<span class=\"_ _3\"></span>ee LCM-<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>rodu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y in it<span class=\"_ _3\"></span>s T<span class=\"_ _0\"></span>ai<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e seco<span class=\"_ _3\"></span>nd ha<span class=\"_ _3\"></span>lf of 2020. A<span class=\"_ _3\"></span>ll imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>op<span class=\"_ _3\"></span>le (23<span class=\"_ _3\"></span>2) lef<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany by t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 2020. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisio<span class=\"_ _3\"></span>n ha<span class=\"_ _3\"></span>s resulte<span class=\"_ _3\"></span>d in ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cas<span class=\"_ _3\"></span>h rest<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g cost<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>losu<span class=\"_ _3\"></span>re of the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 9.2 '<span class=\"_ _3\"></span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d a<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>et<span class=\"_ _1\"></span>s'<span class=\"_ _3\"></span>).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _23e\"> </span>Note<span class=\"_ _7e\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _de\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>20</span>Restructuring (cash)<span class=\"_ _1c4\"> </span>19<span class=\"_ _11\"> </span>-2,50<span class=\"_ _3\"></span>0<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,920<span class=\"_ _de\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>1</span></span>Impairments (non-<span class=\"_ _3\"></span>cash)<span class=\"_ _228\"> </span>-<span class=\"_ _73\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>50<span class=\"_ _3\"></span>0<span class=\"_ _81\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>2</span></span>T<span class=\"_ _0\"></span>otal rest<span class=\"_ _0\"></span>ructuring and i<span class=\"_ _0\"></span>mpairments<span class=\"_ _23f\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-<span class=\"_ _3\"></span>6,420<span class=\"_ _235\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3</span></span>6. Income taxes(a) T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>x posi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ta<span class=\"_ _3\"></span>ken in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x fil<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d how t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e are su<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ted<span class=\"_ _3\"></span>, as we<span class=\"_ _3\"></span>ll as h<span class=\"_ _3\"></span>ow the t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies m<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht ma<span class=\"_ _3\"></span>ke the<span class=\"_ _3\"></span>ir exa<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s and<span class=\"_ _3\"></span> how is<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>at mig<span class=\"_ _3\"></span>ht ar<span class=\"_ _3\"></span>ise f<span class=\"_ _3\"></span>rom exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns cou<span class=\"_ _3\"></span>ld be reso<span class=\"_ _3\"></span>lved<span class=\"_ _3\"></span>, are revi<span class=\"_ _3\"></span>ewe<span class=\"_ _3\"></span>d. Ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n thi<span class=\"_ _3\"></span>s ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt, a d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is de<span class=\"_ _3\"></span>term<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d in l<span class=\"_ _3\"></span>ine w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>FRIC 2<span class=\"_ _3\"></span>3. A reve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>al on th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _1\"></span>y is take<span class=\"_ _3\"></span>n wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>x pos<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>n is n<span class=\"_ _3\"></span>o lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r in pl<span class=\"_ _3\"></span>ace as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f an occu<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax exa<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>xpi<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion of t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xam<span class=\"_ _3\"></span>inat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d.(b) Inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>es wi<span class=\"_ _3\"></span>thh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g taxe<span class=\"_ _3\"></span>s on d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds re<span class=\"_ _3\"></span>ceive<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d tax imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of intr<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>roup d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds t<span class=\"_ _3\"></span>hat d<span class=\"_ _3\"></span>id no<span class=\"_ _3\"></span>t app<span class=\"_ _3\"></span>ly for a d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nd rece<span class=\"_ _3\"></span>ived e<span class=\"_ _3\"></span>xem<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n reg<span class=\"_ _3\"></span>ime to th<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>r fu<span class=\"_ _3\"></span>ll ex<span class=\"_ _3\"></span>tent.(c) Defer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s not re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized on t<span class=\"_ _3\"></span>ax los<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s/<span class=\"_ _0\"></span>cre<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>s or ta<span class=\"_ _3\"></span>x loss<span class=\"_ _3\"></span>es/credit<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ward w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sme<span class=\"_ _3\"></span>nt sh<span class=\"_ _3\"></span>ows it<span class=\"_ _3\"></span> is not p<span class=\"_ _3\"></span>rob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le tha<span class=\"_ _3\"></span>t the<span class=\"_ _3\"></span>se t<span class=\"_ _3\"></span>ax b<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>fit<span class=\"_ _3\"></span>s c<span class=\"_ _3\"></span>an b<span class=\"_ _3\"></span>e util<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e nea<span class=\"_ _3\"></span>r fut<span class=\"_ _3\"></span>ure, in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 mai<span class=\"_ _3\"></span>nly i<span class=\"_ _3\"></span>n Barco NV (<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>lgiu<span class=\"_ _3\"></span>m). Referen<span class=\"_ _3\"></span>ce is ma<span class=\"_ _3\"></span>de to no<span class=\"_ _3\"></span>te 10. In 2020, this a<span class=\"_ _3\"></span>lso re<span class=\"_ _3\"></span>lated to an im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>d tax a<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>et up in re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to<span class=\"_ _0\"></span> tax losses carried<span class=\"_ _0\"></span> for<span class=\"_ _3\"></span>ward<span class=\"_ _0\"></span> in Barc<span class=\"_ _0\"></span>o T<span class=\"_ _2\"></span>aiwan T<span class=\"_ _2\"></span>echnology Ltd., lin<span class=\"_ _3\"></span>ked to th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>cisi<span class=\"_ _3\"></span>on to close t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>te the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y.(d) Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al los<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>curre<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>dat<span class=\"_ _3\"></span>ion of B<span class=\"_ _3\"></span>arco T<span class=\"_ _0\"></span>aiw<span class=\"_ _3\"></span>an T<span class=\"_ _0\"></span>echn<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>og<span class=\"_ _3\"></span>y Ltd. in 2021<span class=\"_ _3\"></span>. In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1cc\"> </span>Note<span class=\"_ _73\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _ad\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _65\"> </span>2020</span>Current versus deferred incom<span class=\"_ _3\"></span>e taxesCur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _1b6\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>01<span class=\"_ _8e\"> </span><span class=\"lse9 ws106\">-5<span class=\"_ _3\"></span>,333<span class=\"_ _68\"> </span><span class=\"ls36 ws40\">-6,886</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _240\"> </span>10<span class=\"_ _8e\"> </span>-2,6<span class=\"_ _3\"></span>26<span class=\"_ _73\"> </span><span class=\"ls138 ws167\">3<span class=\"_ _3\"></span>,201<span class=\"_ _6a\"> </span><span class=\"ls36 ws40\">6,886</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes<span class=\"_ _227\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,927<span class=\"_ _62\"> </span><span class=\"lsfe ws11b\">-2,<span class=\"_ _3\"></span>132<span class=\"_ _1ef\"> </span></span>-In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes ve<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>us i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>axe<span class=\"_ _3\"></span>sEBI<span class=\"_ _3\"></span>T<span class=\"_ _241\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _8e\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>53<span class=\"_ _8e\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>4,332</span></span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (ex<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>e) - ne<span class=\"_ _3\"></span>t<span class=\"_ _1ee\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _65\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>10<span class=\"_ _bc\"> </span>-1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1</span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>fore t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _242\"> </span><span class=\"lsfe ws11b\">88,4<span class=\"_ _3\"></span>86<span class=\"_ _1a4\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _8e\"> </span></span>-<span class=\"_ _3\"></span>4,453</span>Income taxes<span class=\"_ _243\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _218\"> </span><span class=\"ls4 ws4\">-</span></span>Ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x ra<span class=\"_ _3\"></span>te<span class=\"_ _f7\"> </span>%<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>8.0%<span class=\"_ _11\"> </span>18.0%<span class=\"_ _78\"> </span>0.<span class=\"_ _3\"></span>0%</span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>fore t<span class=\"_ _3\"></span>ax<span class=\"_ _3\"></span>es<span class=\"_ _242\"> </span><span class=\"lsfe ws11b\">88,4<span class=\"_ _3\"></span>86<span class=\"_ _1a4\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>43<span class=\"_ _8e\"> </span></span>-<span class=\"_ _3\"></span>4,453</span>Theoretical<span class=\"_ _0\"></span> tax rat<span class=\"_ _0\"></span>e<span class=\"_ _244\"> </span>%<span class=\"_ _b0\"> </span><span class=\"ls106 ws123\">25%<span class=\"_ _b0\"> </span>2<span class=\"_ _3\"></span>5%<span class=\"_ _b0\"> </span>25%</span>Th<span class=\"_ _3\"></span>eo<span class=\"_ _3\"></span>ret<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>ax cr<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>it/(co<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>)<span class=\"_ _6b\"> </span>-<span class=\"_ _0\"></span>22,122<span class=\"_ _235\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>1<span class=\"_ _16b\"> </span><span class=\"ls109 ws126\">1,11<span class=\"_ _3\"></span>3</span></span>Innovation income deduction (IID)<span class=\"_ _1f9\"> </span>6,<span class=\"_ _3\"></span>518<span class=\"_ _73\"> </span><span class=\"lsf7 ws114\">5,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>24<span class=\"_ _65\"> </span><span class=\"ls138 ws167\">5,<span class=\"_ _3\"></span>302</span></span>Ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t of di<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nt t<span class=\"_ _3\"></span>ax r<span class=\"_ _3\"></span>ates i<span class=\"_ _3\"></span>n no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Be<span class=\"_ _3\"></span>lg<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>n af<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ates<span class=\"_ _245\"> </span>-523<span class=\"_ _be\"> </span><span class=\"ls139 ws168\">546<span class=\"_ _b0\"> </span><span class=\"ls109 ws126\">968</span></span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x tre<span class=\"_ _3\"></span>atm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t <span class=\"_ _f3\"> </span>(a)<span class=\"_ _d0\"> </span>60<span class=\"_ _b0\"> </span><span class=\"lsde wsfb\">280<span class=\"_ _65\"> </span><span class=\"lsda wsf7\">1,840</span></span>In<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e no<span class=\"_ _3\"></span>t ta<span class=\"_ _3\"></span>xed   Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e exe<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>t fro<span class=\"_ _3\"></span>m ta<span class=\"_ _3\"></span>x (ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly g<span class=\"_ _3\"></span>ove<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt gr<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ts)<span class=\"_ _19c\"> </span>2,758<span class=\"_ _ad\"> </span><span class=\"lse0 wsfd\">1,706<span class=\"_ _bb\"> </span><span class=\"lsdc wsf9\">2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>141</span></span>Non deductibl<span class=\"_ _0\"></span>e expenses   Dividends r<span class=\"_ _0\"></span>eceived <span class=\"_ _204\"> </span>(b)<span class=\"_ _22a\"> </span>-90<span class=\"_ _de\"> </span><span class=\"lsde wsfb\">-<span class=\"_ _3\"></span>319<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>4,265</span></span>   Other non-deductible expen<span class=\"_ _0\"></span>ses<span class=\"_ _246\"> </span>-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">-2,038<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-2<span class=\"_ _3\"></span>,042</span></span>T<span class=\"_ _0\"></span>ax a<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts r<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ated to p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>or p<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds<span class=\"_ _1bb\"> </span>-<span class=\"_ _0\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _e1\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>5<span class=\"_ _73\"> </span><span class=\"ls138 ws167\">1<span class=\"_ _3\"></span>,029</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, d<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized in c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent y<span class=\"_ _3\"></span>ear<span class=\"_ _184\"> </span>(c)<span class=\"_ _67\"> </span>-<span class=\"_ _3\"></span>420<span class=\"_ _76\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _235\"> </span><span class=\"lse9 ws106\">-<span class=\"_ _3\"></span>6,895</span></span>Set-<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>p/use o<span class=\"_ _3\"></span>f def<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, n<span class=\"_ _3\"></span>ot re<span class=\"_ _3\"></span>cog<span class=\"_ _3\"></span>nize<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s<span class=\"_ _247\"> </span>357<span class=\"_ _d2\"> </span><span class=\"lse9 ws106\">533<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">809</span></span>Rea<span class=\"_ _3\"></span>lize<span class=\"_ _3\"></span>d ca<span class=\"_ _3\"></span>pi<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l los<span class=\"_ _3\"></span>s on i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ates<span class=\"_ _a1\"> </span><span class=\"ls10e ws12b\">(d)<span class=\"_ _1ef\"> </span></span>-<span class=\"_ _11\"> </span><span class=\"lse7 ws104\">4<span class=\"_ _3\"></span>,439<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>xes re<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ated to c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t inc<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>e tax<span class=\"_ _3\"></span>es<span class=\"_ _248\"> </span>-1<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _218\"> </span></span>-7<span class=\"_ _2\"></span>. Earnings per shareIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _b7\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e/(los<span class=\"_ _3\"></span>s) at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t<span class=\"_ _17a\"> </span>75,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>9<span class=\"_ _1dc\"> </span><span class=\"ls36 ws40\">8,881<span class=\"_ _d2\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _1\"></span>393</span></span>Weigh<span class=\"_ _0\"></span>ted av<span class=\"_ _0\"></span>erage of shar<span class=\"_ _0\"></span>es<span class=\"_ _15a\"> </span>90,00<span class=\"_ _3\"></span>5,918<span class=\"_ _151\"> </span><span class=\"lsdd wsfa\">88<span class=\"_ _3\"></span>,98<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>41<span class=\"_ _10c\"> </span><span class=\"ls36 ws40\">88,265,4<span class=\"_ _0\"></span>78</span></span>Basic earnings<span class=\"_ _0\"></span> pe<span class=\"_ _3\"></span>r share<span class=\"_ _219\"> </span>0.84<span class=\"_ _8d\"> </span><span class=\"lse6 ws103\">0.10<span class=\"_ _d7\"> </span><span class=\"ls133 ws162\">-0<span class=\"_ _3\"></span>.05</span></span>Net i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e/(los<span class=\"_ _3\"></span>s) at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t<span class=\"_ _17a\"> </span>75,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>9<span class=\"_ _1dc\"> </span><span class=\"ls36 ws40\">8,881<span class=\"_ _d2\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _1\"></span>393</span></span>Wei<span class=\"_ _3\"></span>ghte<span class=\"_ _3\"></span>d ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s (di<span class=\"_ _3\"></span>lute<span class=\"_ _3\"></span>d)<span class=\"_ _249\"> </span>90,<span class=\"_ _3\"></span>48<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>263<span class=\"_ _9c\"> </span><span class=\"ls133 ws162\">89,185,100<span class=\"_ _54\"> </span><span class=\"lsfb ws118\">88,693,61<span class=\"_ _3\"></span>1</span></span>Diluted ear<span class=\"_ _0\"></span>nings per share<span class=\"_ _24a\"> </span><span class=\"lse6 ws103\">(a)<span class=\"_ _1fc\"> </span><span class=\"ls131 ws161\">0.83<span class=\"_ _8d\"> </span></span>0<span class=\"_ _3\"></span>.10<span class=\"_ _1dc\"> </span><span class=\"ls133 ws162\">-0.05</span></span>(a<span class=\"_ _0\"></span>) The differenc<span class=\"_ _0\"></span>e between the w<span class=\"_ _0\"></span>eighted a<span class=\"_ _0\"></span>verage of s<span class=\"_ _0\"></span>hares and wei<span class=\"_ _3\"></span>ghted ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge of sh<span class=\"_ _3\"></span>ares (d<span class=\"_ _3\"></span>iluted<span class=\"_ _3\"></span>) is du<span class=\"_ _3\"></span>e to exercisa<span class=\"_ _3\"></span>ble stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re in the m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ey (wh<span class=\"_ _3\"></span>ich m<span class=\"_ _3\"></span>ean<span class=\"_ _3\"></span>s that the c<span class=\"_ _3\"></span>losin<span class=\"_ _3\"></span>g rate of t<span class=\"_ _3\"></span>he B<span class=\"_ _3\"></span>arco sha<span class=\"_ _3\"></span>re was hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>e exercis<span class=\"_ _3\"></span>e pri<span class=\"_ _3\"></span>ce).  <span class=\"_ _152\"> </span>Fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re deta<span class=\"_ _3\"></span>ile<span class=\"_ _3\"></span>d info<span class=\"_ _3\"></span>rma<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n conce<span class=\"_ _3\"></span>rni<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>ares a<span class=\"_ _3\"></span>nd stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, we refe<span class=\"_ _3\"></span>r to note 16.8. GoodwillIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _20e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _d\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _1dc\"> </span>2020</span>At cos<span class=\"_ _3\"></span>t<span class=\"_ _24b\"> </span><span class=\"lse3 ws100\">17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>1<span class=\"_ _3\"></span>79,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>75<span class=\"_ _cf\"> </span>17<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>5</span>Impairment<span class=\"_ _72\"> </span><span class=\"lsef ws10c\">74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3<span class=\"_ _cc\"> </span>74<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _22a\"> </span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>3</span>Net book<span class=\"_ _0\"></span> value<span class=\"_ _1b6\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>12<span class=\"_ _78\"> </span>10<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>61<span class=\"_ _3\"></span>2<span class=\"_ _78\"> </span>105<span class=\"_ _3\"></span>,61<span class=\"_ _3\"></span>2</span>Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re no cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es to go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll in 2022<span class=\"_ _3\"></span>, 2021 a<span class=\"_ _3\"></span>nd 2020 an<span class=\"_ _3\"></span>d the i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test<span class=\"_ _3\"></span>s on g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill i<span class=\"_ _3\"></span>n the 3 ye<span class=\"_ _3\"></span>ars d<span class=\"_ _3\"></span>id n<span class=\"_ _3\"></span>ot resu<span class=\"_ _3\"></span>lt in any impairment.Th<span class=\"_ _3\"></span>e test w<span class=\"_ _3\"></span>as p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d on a ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit le<span class=\"_ _3\"></span>vel by comp<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ng ea<span class=\"_ _3\"></span>ch un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>\u2019s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e, inc<span class=\"_ _3\"></span>ludi<span class=\"_ _3\"></span>ng g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>, to it<span class=\"_ _3\"></span>s val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e. Th<span class=\"_ _3\"></span>e va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>se of ea<span class=\"_ _3\"></span>ch rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit w<span class=\"_ _3\"></span>as as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g a disco<span class=\"_ _3\"></span>unted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el ba<span class=\"_ _3\"></span>sed o<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>gem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>\u2019s rev<span class=\"_ _3\"></span>ise<span class=\"_ _3\"></span>d bu<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>et on di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion l<span class=\"_ _3\"></span>evel for t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r an<span class=\"_ _3\"></span>d es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns cover<span class=\"_ _3\"></span>ing a f<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>yea<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od. Co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>stent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h it<span class=\"_ _3\"></span>s year<span class=\"_ _3\"></span>ly im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any a<span class=\"_ _3\"></span>dju<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for fu<span class=\"_ _3\"></span>ture yea<span class=\"_ _3\"></span>rs to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s in vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f unce<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tai<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, an ap<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ate level of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism wa<span class=\"_ _3\"></span>s ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>, to ta<span class=\"_ _3\"></span>ke into accoun<span class=\"_ _3\"></span>t covid<span class=\"_ _3\"></span>-19 rel<span class=\"_ _3\"></span>ated un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>aint<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. Fo<span class=\"_ _3\"></span>r 2022 th<span class=\"_ _3\"></span>e hig<span class=\"_ _3\"></span>h leve<span class=\"_ _3\"></span>l of cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>atism i<span class=\"_ _3\"></span>s aga<span class=\"_ _3\"></span>in a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to be con<span class=\"_ _3\"></span>siste<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or ye<span class=\"_ _3\"></span>ar tes<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g. In 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020, th<span class=\"_ _3\"></span>e outcom<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e impairment t<span class=\"_ _0\"></span>ests on goodwill impairment t<span class=\"_ _0\"></span>ests per<span class=\"_ _3\"></span>formed did<span class=\"_ _0\"></span> not re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n any im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent lo<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>.Se<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low for ex<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns on t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t testi<span class=\"_ _3\"></span>ng performed.Goodwill by cash-generating unit On a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on, g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>dw<span class=\"_ _3\"></span>ill a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red in a b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>bin<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on is all<span class=\"_ _3\"></span>oca<span class=\"_ _3\"></span>ted to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g uni<span class=\"_ _3\"></span>t whi<span class=\"_ _3\"></span>ch is exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted to be<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>efit<span class=\"_ _0\"></span> from tha<span class=\"_ _0\"></span>t business c<span class=\"_ _0\"></span>ombination.<span class=\"_ _0\"></span> T<span class=\"_ _3\"></span>hese cas<span class=\"_ _0\"></span>h<span class=\"_ _3\"></span>-gen<span class=\"_ _3\"></span>erating<span class=\"_ _0\"></span> uni<span class=\"_ _3\"></span>ts cor<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>d to th<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n leve<span class=\"_ _3\"></span>l for He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _0\"></span>tertainment. Theref<span class=\"_ _0\"></span>ore, impairmen<span class=\"_ _0\"></span>t testing i<span class=\"_ _0\"></span>s per<span class=\"_ _3\"></span>formed at th<span class=\"_ _3\"></span>e level o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as pre<span class=\"_ _3\"></span>sente<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>low.  Th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wil<span class=\"_ _3\"></span>l (af<span class=\"_ _3\"></span>ter im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>) has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>ated to the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s as foll<span class=\"_ _3\"></span>ows:Cash-genera<span class=\"_ _0\"></span>ting units<span class=\"_ _0\"></span> in thousands o<span class=\"_ _0\"></span>f euro<span class=\"_ _ed\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22-<span class=\"_ _0\"></span>2020</span>Healthcar<span class=\"_ _0\"></span>e <span class=\"_ _1de\"> </span><span class=\"lsde wsfb\"> 28,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>3 </span>Ent<span class=\"_ _0\"></span>erprise<span class=\"_ _24c\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5 </span>Ent<span class=\"_ _0\"></span>er<span class=\"_ _3\"></span>tainment<span class=\"_ _24d\"> </span><span class=\"ls4 ws4\"> 35,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>64 </span>T<span class=\"_ _0\"></span>otal goodwi<span class=\"_ _0\"></span>ll (net<span class=\"_ _0\"></span> book value)<span class=\"_ _1b6\"> </span><span class=\"lsf5 ws112\"> 105,612 </span>Th<span class=\"_ _3\"></span>e al<span class=\"_ _3\"></span>loc<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on rem<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d the s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e over 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020. Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d it<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt test i<span class=\"_ _3\"></span>n the fo<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>th quarter of<span class=\"_ _0\"></span> 2022<span class=\"_ _0\"></span> consist<span class=\"_ _0\"></span>ently wi<span class=\"_ _0\"></span>th prior years.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup lo<span class=\"_ _3\"></span>ok<span class=\"_ _3\"></span>s at th<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>nsh<span class=\"_ _3\"></span>ip b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en it<span class=\"_ _3\"></span>s ma<span class=\"_ _3\"></span>rket c<span class=\"_ _3\"></span>ap-ita<span class=\"_ _3\"></span>lizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d its b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue, a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>st ot<span class=\"_ _3\"></span>her f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>en revie<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>ators of i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. At 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, the m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>liza<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up was a<span class=\"_ _3\"></span>lm<span class=\"_ _3\"></span>ost t<span class=\"_ _3\"></span>hree t<span class=\"_ _3\"></span>ime<span class=\"_ _3\"></span>s the a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup. A<span class=\"_ _3\"></span>s s<span class=\"_ _3\"></span>uch, t<span class=\"_ _3\"></span>his g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al tes<span class=\"_ _3\"></span>t do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot sho<span class=\"_ _3\"></span>w an in<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>cati<span class=\"_ _3\"></span>on for i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nua<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s were p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>d for ea<span class=\"_ _3\"></span>ch<span class=\"_ _0\"></span> cas<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ing u<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e recove<span class=\"_ _3\"></span>rab<span class=\"_ _3\"></span>le a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt for e<span class=\"_ _3\"></span>ach of the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een d<span class=\"_ _3\"></span>eter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on a val<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>e cal<span class=\"_ _3\"></span>culat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n usin<span class=\"_ _3\"></span>g ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rated<span class=\"_ _3\"></span> by ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent cove<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a fi<span class=\"_ _3\"></span>ve<span class=\"_ _3\"></span>-ye<span class=\"_ _3\"></span>ar p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>e to the l<span class=\"_ _3\"></span>evel of un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>y of f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re years<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s have be<span class=\"_ _3\"></span>en a<span class=\"_ _3\"></span>djus<span class=\"_ _3\"></span>ted to mo<span class=\"_ _3\"></span>re conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e pur<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>e of our impairment testing.Th<span class=\"_ _3\"></span>e pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>ed to p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows i<span class=\"_ _3\"></span>s 10.1<span class=\"_ _3\"></span>% (2021 a<span class=\"_ _3\"></span>nd 2020: 8.<span class=\"_ _3\"></span>7%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>ws b<span class=\"_ _3\"></span>eyon<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e five<span class=\"_ _1\"></span>-year p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d are ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ated usi<span class=\"_ _3\"></span>ng a co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h rate of 0% (202<span class=\"_ _3\"></span>1: 0%<span class=\"_ _3\"></span>, 2020: 0%<span class=\"_ _3\"></span>).Th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt by wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e uni<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>\u2019s recovera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt e<span class=\"_ _3\"></span>xceeds it<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is 1<span class=\"_ _3\"></span>51 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (142 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>) in He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, 13<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n Enterp<span class=\"_ _3\"></span>rise (97 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) a<span class=\"_ _3\"></span>nd 106 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent (42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro i<span class=\"_ _3\"></span>n 2021).Th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease ve<span class=\"_ _3\"></span>rsus 202<span class=\"_ _3\"></span>1 is th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt of recoveri<span class=\"_ _3\"></span>ng m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter covi<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>evel of co<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e EBI<span class=\"_ _3\"></span>TDA % (avera<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>f the l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t 3 year<span class=\"_ _3\"></span>s) is consis<span class=\"_ _3\"></span>tent w<span class=\"_ _3\"></span>ith p<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>r yea<span class=\"_ _3\"></span>rs an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude 2 cov<span class=\"_ _3\"></span>id im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted yea<span class=\"_ _3\"></span>rs (2020 a<span class=\"_ _3\"></span>nd 2021<span class=\"_ _3\"></span>). Des<span class=\"_ _3\"></span>pite the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>h level o<span class=\"_ _3\"></span>f conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ism a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d, al<span class=\"_ _3\"></span>l thre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons h<span class=\"_ _3\"></span>ave substantial headroom.A sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lysi<span class=\"_ _3\"></span>s is pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>t to the d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (se<span class=\"_ _3\"></span>e Se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y to chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns \u2013 Dis<span class=\"_ _3\"></span>count r<span class=\"_ _3\"></span>ate). F<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>r for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard lo<span class=\"_ _3\"></span>oki<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tatem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA<span class=\"_ _3\"></span>, we refer to t<span class=\"_ _3\"></span>he com<span class=\"_ _3\"></span>pany re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>is annual r<span class=\"_ _0\"></span>epo<span class=\"_ _3\"></span>rt.Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent tes<span class=\"_ _3\"></span>t are cons<span class=\"_ _3\"></span>isten<span class=\"_ _3\"></span>t with e<span class=\"_ _0\"></span>x<span class=\"_ _3\"></span>ternal<span class=\"_ _0\"></span> sourc<span class=\"_ _0\"></span>es<span class=\"_ _3\"></span>.For none<span class=\"_ _0\"></span> of the cash-generating units management<span class=\"_ _0\"></span> identified an impairment<span class=\"_ _0\"></span> loss after<span class=\"_ _0\"></span> the impairment t<span class=\"_ _0\"></span>est.Ke<span class=\"_ _0\"></span>y assumptions used in<span class=\"_ _0\"></span> value-in-use cal<span class=\"_ _0\"></span>culationsTh<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n of va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>-i<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>use for a<span class=\"_ _3\"></span>ll ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>ene<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g unit<span class=\"_ _3\"></span>s is mos<span class=\"_ _3\"></span>t se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>ive to th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns:\u2022 <span class=\"_ _141\"> </span>S<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d dur<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d;\u2022 EBIT<span class=\"_ _3\"></span>DA; \u2022 <span class=\"_ _2a\"> </span>Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to extr<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate cash f<span class=\"_ _3\"></span>low<span class=\"_ _3\"></span>s beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he budget period<span class=\"_ _0\"></span>;\u2022 <span class=\"_ _141\"> </span>D<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate;Th<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re show<span class=\"_ _3\"></span>n in b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le:Healt<span class=\"_ _0\"></span>hcare<span class=\"_ _14b\"> </span><span class=\"ls16 ws1f\">Enterprise<span class=\"_ _55\"> </span><span class=\"ls1f ws29\">Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inme<span class=\"_ _3\"></span>nt</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h ra<span class=\"_ _3\"></span>te use<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d<span class=\"_ _24e\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>EBI<span class=\"_ _3\"></span>TDA a<span class=\"_ _3\"></span>s % of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es<span class=\"_ _24f\"> </span>11.<span class=\"_ _3\"></span>2%<span class=\"_ _6e\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>1.<span class=\"_ _3\"></span>4%<span class=\"_ _235\"> </span><span class=\"lsfc ws119\">9.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%</span></span>Gro<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>tes<span class=\"_ _250\"> </span><span class=\"lsf5 ws112\">0.0%<span class=\"_ _6c\"> </span>0.0%<span class=\"_ _6c\"> </span>0.0%</span>Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _80\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%<span class=\"_ _6e\"> </span>10.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _70\"> </span>10<span class=\"_ _3\"></span>.1<span class=\"_ _3\"></span>%</span>Sal<span class=\"_ _3\"></span>es gr<span class=\"_ _3\"></span>owth r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d duri<span class=\"_ _3\"></span>ng the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>riod<span class=\"ff4 ls4d wsa1\"> \u2013 S<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span> </span>grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate used ov<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od ha<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>en kep<span class=\"_ _3\"></span>t conse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vat<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>ly at zero pe<span class=\"_ _3\"></span>rcent for al<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>its<span class=\"_ _3\"></span>, sin<span class=\"_ _3\"></span>ce even th<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is no ri<span class=\"_ _3\"></span>sk for i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t. EBITDA a<span class=\"_ _3\"></span>s per<span class=\"_ _3\"></span>cent<span class=\"_ _3\"></span>age of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls28\"> <span class=\"_ _0\"></span>\u2013 EBI<span class=\"_ _3\"></span>T<span class=\"_ _3\"></span>DA as pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s </span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s over t<span class=\"_ _3\"></span>he th<span class=\"_ _3\"></span>ree yea<span class=\"_ _3\"></span>rs p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cedi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e s<span class=\"_ _3\"></span>tar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f the b<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>t pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d for a<span class=\"_ _3\"></span>ll di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. T<span class=\"_ _3\"></span>he EBIT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>een ke<span class=\"_ _3\"></span>pt cons<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ativ<span class=\"_ _3\"></span>ely f<span class=\"_ _3\"></span>lat ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, e<span class=\"_ _3\"></span>xcept for Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ere as of 2024, the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge h<span class=\"_ _3\"></span>as be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>et back to p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covid EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA level<span class=\"_ _3\"></span>, usi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he 2019 EBI<span class=\"_ _3\"></span>TDA<span class=\"_ _3\"></span>% (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) it is m<span class=\"_ _3\"></span>ore real<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic to ta<span class=\"_ _3\"></span>ke the p<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d EBIT<span class=\"_ _3\"></span>DA leve<span class=\"_ _3\"></span>l of 2019 (9.<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>) as of 2024.Grow<span class=\"_ _3\"></span>th rate estim<span class=\"_ _3\"></span>ates<span class=\"ff4 ls2a ws39\"> \u2013 The lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term r<span class=\"_ _3\"></span>ate use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>late </span>the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ion h<span class=\"_ _3\"></span>as b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n kept con<span class=\"_ _3\"></span>ser<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely at zero % for a<span class=\"_ _3\"></span>ll cash-<span class=\"_ _3\"></span>generating uni<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s.Disco<span class=\"_ _3\"></span>unt rate \u2013 Dis<span class=\"_ _3\"></span>coun<span class=\"_ _3\"></span>t rate refl<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket ass<span class=\"_ _3\"></span>ess<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic to Ba<span class=\"_ _3\"></span>rco Group<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>count rate wa<span class=\"_ _3\"></span>s est<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ted bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a (lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm) pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>x cost of ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e risk<span class=\"_ _3\"></span>s b<span class=\"_ _3\"></span>ein<span class=\"_ _3\"></span>g im<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>cit in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows<span class=\"_ _3\"></span>. It w<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>min<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n grou<span class=\"_ _3\"></span>p leve<span class=\"_ _3\"></span>l.Sensitivity to<span class=\"_ _0\"></span> changes in assumptionsPer 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, on<span class=\"_ _3\"></span>ly a ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>e in EBI<span class=\"_ _3\"></span>TDA m<span class=\"_ _3\"></span>argi<span class=\"_ _3\"></span>n could re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt los<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns of th<span class=\"_ _3\"></span>e key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>covera<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt a<span class=\"_ _3\"></span>re discu<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>d b<span class=\"_ _3\"></span>elow<span class=\"_ _3\"></span>:EBITDA p<span class=\"_ _3\"></span>erc<span class=\"_ _3\"></span>enta<span class=\"_ _3\"></span>ge on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s<span class=\"ff4 ls20 ws38\"> \u2013 Management has<span class=\"_ _0\"></span> consider<span class=\"_ _0\"></span>ed </span>the p<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y of lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted EBI<span class=\"_ _3\"></span>TDA p<span class=\"_ _3\"></span>ercent<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>es on s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s. For H<span class=\"_ _3\"></span>ealth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re, Enterp<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>e and En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a re<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of the EB<span class=\"_ _3\"></span>IT<span class=\"_ _3\"></span>DA pe<span class=\"_ _3\"></span>rcenta<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ast ye<span class=\"_ _3\"></span>ar of t<span class=\"_ _3\"></span>he pro<span class=\"_ _3\"></span>jec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>vely m<span class=\"_ _3\"></span>ore th<span class=\"_ _3\"></span>an 7<span class=\"_ _3\"></span>%<span class=\"_ _3\"></span>, 7% a<span class=\"_ _3\"></span>nd 4% wo<span class=\"_ _3\"></span>uld re<span class=\"_ _3\"></span>sult i<span class=\"_ _3\"></span>n an impairment. Disco<span class=\"_ _3\"></span>unt rates<span class=\"ff4 ls2e wse\"> \u2013 Management<span class=\"_ _0\"></span> has c<span class=\"_ _0\"></span>onsidered<span class=\"_ _0\"></span> the possibil<span class=\"ls4 ws4\">-</span></span>it<span class=\"_ _3\"></span>y of a si<span class=\"_ _3\"></span>gnif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er we<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hted aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e cost to tes<span class=\"_ _3\"></span>t the sen<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y. For no<span class=\"_ _3\"></span>ne o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _1\"></span>gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s this l<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>s to an im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate estim<span class=\"_ _3\"></span>ate (beyo<span class=\"_ _3\"></span>nd the p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ctio<span class=\"_ _3\"></span>n pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d)<span class=\"ff4 ws39\"> \u2013 For al<span class=\"_ _3\"></span>l </span>div<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>ons<span class=\"_ _3\"></span>, no rea<span class=\"_ _3\"></span>son<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le pos<span class=\"_ _3\"></span>sib<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e grow<span class=\"_ _3\"></span>th r<span class=\"_ _3\"></span>ate, use<span class=\"_ _3\"></span>d to ext<span class=\"_ _3\"></span>rap<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>ate beyo<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, wo<span class=\"_ _3\"></span>uld res<span class=\"_ _3\"></span>ult in an impairment.9<span class=\"_ _0\"></span>.1 Other intangible assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _251\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _cc\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>2020</span>Other Intangible <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>Cust<span class=\"_ _0\"></span>omer<span class=\"ls4 ws4\"> </span>Other as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r <span class=\"_ _21\"></span> Sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wareRelations<span class=\"_ _89\"> </span><span class=\"lsd3 wsc6\">K<span class=\"_ _3\"></span>now-how</span>Intangible Assetsconstructi<span class=\"_ _0\"></span>on<span class=\"_ _22a\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _cc\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>24<span class=\"_ _cf\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _22a\"> </span></span></span>9,90<span class=\"_ _3\"></span>7<span class=\"_ _90\"> </span></span>-<span class=\"_ _6a\"> </span>136<span class=\"_ _3\"></span>,578<span class=\"_ _76\"> </span><span class=\"ls108 ws125\">134,6<span class=\"_ _0\"></span>08<span class=\"_ _6a\"> </span><span class=\"ls42 ws6f\">1<span class=\"_ _3\"></span>57<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>250</span></span>Expenditure<span class=\"_ _1f7\"> </span>489<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,733<span class=\"_ _cb\"> </span></span>-<span class=\"_ _c0\"> </span>1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>14<span class=\"_ _d2\"> </span>3,836<span class=\"_ _1b0\"> </span><span class=\"ls3c ws48\">1,<span class=\"_ _3\"></span>230<span class=\"_ _101\"> </span><span class=\"lsdd wsfa\">1,9<span class=\"_ _3\"></span>51</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _81\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>8,0<span class=\"_ _3\"></span>64</span></span>Acquisi<span class=\"_ _0\"></span>tion of sub<span class=\"_ _0\"></span>sidiaries<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cc\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7<span class=\"_ _252\"> </span></span>-<span class=\"_ _90\"> </span>-</span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a6\"> </span>1,552<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>552<span class=\"_ _cb\"> </span></span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _91\"> </span>600<span class=\"_ _8f\"> </span>147<span class=\"_ _8f\"> </span>-23<span class=\"_ _144\"> </span>-5<span class=\"_ _90\"> </span>-<span class=\"_ _8d\"> </span>719<span class=\"_ _d2\"> </span><span class=\"lsfb ws118\">4,052<span class=\"_ _73\"> </span><span class=\"lsf4 ws111\">-16,<span class=\"_ _3\"></span>529</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _107\"> </span>65,998<span class=\"_ _be\"> </span>9,<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>8<span class=\"_ _bb\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _b0\"> </span>5<span class=\"_ _3\"></span>,20<span class=\"_ _3\"></span>0<span class=\"_ _1ef\"> </span>62<span class=\"_ _1a4\"> </span>128<span class=\"_ _3\"></span>,64<span class=\"_ _3\"></span>6<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>36,<span class=\"_ _3\"></span>578<span class=\"_ _1a4\"> </span>13<span class=\"_ _3\"></span>4,608</span>Amortizations and<span class=\"_ _0\"></span> impairmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _ab\"> </span>48,<span class=\"_ _3\"></span>709<span class=\"_ _de\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>24<span class=\"_ _67\"> </span></span>45,702<span class=\"_ _cc\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _cb\"> </span></span>-<span class=\"_ _ad\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _62\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>5,6<span class=\"_ _3\"></span>55<span class=\"_ _ad\"> </span><span class=\"lsea ws107\">11<span class=\"_ _3\"></span>2,781</span></span>Amor<span class=\"_ _3\"></span>tization<span class=\"_ _123\"> </span>6,3<span class=\"_ _3\"></span>75<span class=\"_ _90\"> </span>-<span class=\"_ _d2\"> </span>3,602<span class=\"_ _49\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _90\"> </span></span>-<span class=\"_ _67\"> </span>10<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsfb ws118\">13,0<span class=\"_ _3\"></span>95<span class=\"_ _bb\"> </span><span class=\"lsed ws10a\">13,<span class=\"_ _3\"></span>388</span></span>Impairment<span class=\"_ _1ae\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>500</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _191\"> </span>-404<span class=\"_ _7e\"> </span>-5<span class=\"_ _3\"></span>,453<span class=\"_ _7e\"> </span>-9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>35<span class=\"_ _7e\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>702<span class=\"_ _90\"> </span></span>-<span class=\"_ _62\"> </span>-20,0<span class=\"_ _3\"></span>94<span class=\"_ _e1\"> </span><span class=\"ls19b ws270\">-3,3<span class=\"_ _0\"></span>12<span class=\"_ _bc\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>3</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _21c\"> </span>23<span class=\"_ _8f\"> </span>147<span class=\"_ _8d\"> </span>159<span class=\"_ _ae\"> </span>-27<span class=\"_ _cb\"> </span>-<span class=\"_ _b\"> </span>302<span class=\"_ _c0\"> </span><span class=\"lsfb ws118\">3,713<span class=\"_ _ad\"> </span><span class=\"lsf4 ws111\">-16,0<span class=\"_ _3\"></span>61</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1d7\"> </span>5<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>703<span class=\"_ _d2\"> </span>9,8<span class=\"_ _3\"></span>18<span class=\"_ _81\"> </span>39,928<span class=\"_ _bc\"> </span><span class=\"ls84 ws9f\">4,946<span class=\"_ _b3\"> </span></span>-<span class=\"_ _8e\"> </span><span class=\"lse7 ws104\">109,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>96<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9,1<span class=\"_ _3\"></span>51<span class=\"_ _63\"> </span><span class=\"lse6 ws103\">105<span class=\"_ _3\"></span>,655</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19f\"> </span><span class=\"ls131 ws161\">15,053<span class=\"_ _39\"> </span></span>-<span class=\"_ _b0\"> </span>2,084<span class=\"_ _d6\"> </span><span class=\"lse9 ws106\">290<span class=\"_ _39\"> </span></span>-<span class=\"_ _7e\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7<span class=\"_ _bb\"> </span><span class=\"lsea ws107\">28,9<span class=\"_ _3\"></span>52<span class=\"_ _73\"> </span><span class=\"lsee ws10b\">4<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>69</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _19c\"> </span><span class=\"ls19a ws26f\">11,296<span class=\"_ _39\"> </span></span>-<span class=\"_ _be\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _8d\"> </span><span class=\"ls89 wsa4\">253<span class=\"_ _1ef\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _78\"> </span><span class=\"lse7 ws104\">1<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>251<span class=\"_ _7e\"> </span></span></span></span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7<span class=\"_ _81\"> </span><span class=\"lsea ws107\">28<span class=\"_ _3\"></span>,952</span></span>A<span class=\"_ _3\"></span>s a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e Gn<span class=\"_ _3\"></span>osco a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>on kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how fo<span class=\"_ _3\"></span>r an am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 7<span class=\"_ _2\"></span>.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro wa<span class=\"_ _3\"></span>s acqu<span class=\"_ _3\"></span>ired<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch is am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized over 5 year<span class=\"_ _3\"></span>s. We refer to n<span class=\"_ _3\"></span>ote 1.<span class=\"_ _3\"></span>3 for m<span class=\"_ _3\"></span>ore e<span class=\"_ _3\"></span>xpl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n on t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et assets<span class=\"_ _0\"></span> acquired.<span class=\"_ _0\"></span> Barco\u2019s int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de S<span class=\"_ _3\"></span>AP ERP so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware a<span class=\"_ _3\"></span>nd rema<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k va<span class=\"_ _3\"></span>lue of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red kn<span class=\"_ _3\"></span>ow<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>how. In 2022, c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r int<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 2.1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro (2021: 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s in 2022 an<span class=\"_ _3\"></span>d 2021 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to ne<span class=\"_ _3\"></span>w custom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span> relation<span class=\"_ _0\"></span>ship management (C<span class=\"_ _0\"></span>RM) software. Expenditur<span class=\"_ _0\"></span>es in 2020 were ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly rela<span class=\"_ _3\"></span>ted to SAP ER<span class=\"_ _3\"></span>P sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re lice<span class=\"_ _3\"></span>nse<span class=\"_ _3\"></span>s.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 rel<span class=\"_ _3\"></span>ate to ful<span class=\"_ _3\"></span>ly am<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ized IT so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ware<span class=\"_ _3\"></span> whi<span class=\"_ _3\"></span>ch is no l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r use<span class=\"_ _3\"></span>d.In 2020 th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt tes<span class=\"_ _3\"></span>t on acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d int<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>les re<span class=\"_ _3\"></span>sulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t of 3.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro on th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uire<span class=\"_ _3\"></span>d kno<span class=\"_ _3\"></span>w-how fo<span class=\"_ _3\"></span>r care<span class=\"_ _3\"></span>sy<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>x.Th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent cos<span class=\"_ _3\"></span>t is in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n resea<span class=\"_ _3\"></span>rch and d<span class=\"_ _3\"></span>eve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt expenses in 20<span class=\"_ _0\"></span>20.Th<span class=\"_ _3\"></span>e grou<span class=\"_ _3\"></span>p pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nn<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t revie<span class=\"_ _3\"></span>w on acqu<span class=\"_ _3\"></span>ired i<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ibl<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he fou<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>th q<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>ter o<span class=\"_ _3\"></span>f 2022 cons<span class=\"_ _3\"></span>istent<span class=\"_ _3\"></span>ly wit<span class=\"_ _3\"></span>h pri<span class=\"_ _3\"></span>or yea<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Sp<span class=\"_ _3\"></span>ecia<span class=\"_ _3\"></span>l at<span class=\"_ _3\"></span>tenti<span class=\"_ _3\"></span>on w<span class=\"_ _3\"></span>as pa<span class=\"_ _3\"></span>id to th<span class=\"_ _3\"></span>e potent<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pacts of<span class=\"_ _0\"></span> the macr<span class=\"_ _0\"></span>oeconomic e<span class=\"_ _0\"></span>nvironment.<span class=\"_ _0\"></span> The test<span class=\"_ _0\"></span> concluded<span class=\"_ _0\"></span> no im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Barco do<span class=\"_ _3\"></span>es n<span class=\"_ _3\"></span>ot ho<span class=\"_ _3\"></span>ld in<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s w<span class=\"_ _3\"></span>ith in<span class=\"_ _3\"></span>def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ite lifeti<span class=\"_ _3\"></span>me.9<span class=\"_ _0\"></span>.2. T<span class=\"_ _0\"></span>angible fixed assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _253\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _63\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Furniture,<span class=\"_ _0\"></span> Pl<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>, of<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>ce <span class=\"_ _21\"></span><span class=\"ls4 ws4\"> </span>OtherLa<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y and eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt  pro<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ty, pl<span class=\"_ _3\"></span>ant A<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>ts u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al O<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r buildingsequi<span class=\"_ _3\"></span>pmentand vehicl<span class=\"_ _0\"></span>esand equipmentconstructi<span class=\"_ _0\"></span>ontangible assets<span class=\"_ _8e\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _7b\"> </span>To<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l</span>At costOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _19e\"> </span>138,155<span class=\"_ _43\"> </span><span class=\"ls19c ws271\">8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>6<span class=\"_ _4\"> </span>4<span class=\"_ _6e\"> </span><span class=\"lsed ws10a\">42,217<span class=\"_ _43\"> </span><span class=\"ls109 ws126\">12,586<span class=\"_ _1a4\"> </span><span class=\"lsda wsf7\">3,794<span class=\"_ _178\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>62<span class=\"_ _178\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>317<span class=\"_ _151\"> </span></span></span></span></span></span>2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _4e\"> </span><span class=\"lsdd wsfa\">276<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>2</span></span>Expenditure*<span class=\"_ _254\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _8e\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>39<span class=\"_ _6c\"> </span><span class=\"lsf0 ws10d\">6<span class=\"_ _3\"></span>,429<span class=\"_ _1a4\"> </span><span class=\"lsed ws10a\">1,099<span class=\"_ _76\"> </span><span class=\"lsf4 ws111\">9,616<span class=\"_ _40\"> </span></span>22,383<span class=\"_ _54\"> </span><span class=\"ls138 ws167\">30,020<span class=\"_ _43\"> </span></span></span></span></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _ff\"> </span><span class=\"lsde wsfb\">26,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>3</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _109\"> </span>-14<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span>-6<span class=\"_ _3\"></span>,790<span class=\"_ _70\"> </span>-4,<span class=\"_ _3\"></span>822<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _8d\"> </span></span>-<span class=\"_ _10c\"> </span>-1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>95<span class=\"_ _178\"> </span>-28,<span class=\"_ _3\"></span>03<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,614<span class=\"_ _3d\"> </span><span class=\"lse7 ws104\">-29,8<span class=\"_ _3\"></span>47</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _1a5\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _1a4\"> </span><span class=\"lse9 ws106\">2,533<span class=\"_ _67\"> </span><span class=\"lsfe ws11b\">3<span class=\"_ _3\"></span>45<span class=\"_ _76\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,936<span class=\"_ _10\"> </span></span>-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>082<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>269<span class=\"_ _8d\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>227<span class=\"_ _73\"> </span>-9<span class=\"_ _3\"></span>81<span class=\"_ _de\"> </span>-83<span class=\"_ _16b\"> </span>-1<span class=\"_ _1\"></span>24<span class=\"_ _7e\"> </span>-9<span class=\"_ _3\"></span>0<span class=\"_ _71\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>27<span class=\"_ _1\"></span>7<span class=\"_ _6e\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>50<span class=\"_ _235\"> </span><span class=\"lsea ws107\">6<span class=\"_ _3\"></span>,786<span class=\"_ _ff\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>6,42<span class=\"_ _3\"></span>3</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>32,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _40\"> </span><span class=\"ls3c ws48\">87<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>566<span class=\"_ _10c\"> </span><span class=\"ls109 ws126\">4<span class=\"_ _3\"></span>4,086<span class=\"_ _40\"> </span><span class=\"ls190 ws254\">13,813<span class=\"_ _6c\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>8<span class=\"_ _1a8\"> </span><span class=\"ls10e ws12b\">15<span class=\"_ _3\"></span>2,70<span class=\"_ _3\"></span>4<span class=\"_ _46\"> </span><span class=\"lsea ws107\">285,<span class=\"_ _3\"></span>253<span class=\"_ _3a\"> </span></span></span></span></span></span>284,317<span class=\"_ _52\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>4</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _126\"> </span>59,<span class=\"_ _3\"></span>55<span class=\"_ _3\"></span>3<span class=\"_ _10\"> </span>57<span class=\"_ _0\"></span>,850<span class=\"_ _10\"> </span>3<span class=\"_ _3\"></span>0,187<span class=\"_ _68\"> </span>9,8<span class=\"_ _3\"></span>40<span class=\"_ _8d\"> </span>-<span class=\"_ _70\"> </span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _ff\"> </span>1<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _178\"> </span><span class=\"lsed ws10a\">14<span class=\"_ _0\"></span>3,630<span class=\"_ _3d\"> </span><span class=\"lsdc wsf9\">141,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>93</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _123\"> </span>11,2<span class=\"_ _0\"></span>42<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _76\"> </span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>39<span class=\"_ _235\"> </span>1,0<span class=\"_ _3\"></span>68<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span></span>1<span class=\"_ _3\"></span>5,052<span class=\"_ _94\"> </span><span class=\"lsf0 ws10d\">26,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"ls103 ws120\">26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _4b\"> </span></span>26<span class=\"_ _3\"></span>,495</span>Impairment<span class=\"_ _1b5\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _60\"> </span><span class=\"lsfb ws118\">5,757</span></span>Sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d dis<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s<span class=\"_ _2d\"> </span>-<span class=\"_ _3\"></span>8,135<span class=\"_ _7b\"> </span>-<span class=\"_ _1\"></span>6,<span class=\"_ _3\"></span>731<span class=\"_ _255\"> </span>-4,<span class=\"_ _3\"></span>589<span class=\"_ _60\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>83<span class=\"_ _1fc\"> </span></span>-<span class=\"_ _151\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>02<span class=\"_ _54\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span></span>-1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>787<span class=\"_ _50\"> </span><span class=\"lsf0 ws10d\">-26,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6</span></span>T<span class=\"_ _0\"></span>ransfers<span class=\"_ _159\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"ls109 ws126\">22<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _de\"> </span><span class=\"ls42 ws6f\">-50<span class=\"_ _1fc\"> </span></span></span></span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _8d\"> </span>-<span class=\"_ _1fc\"> </span>-<span class=\"_ _1dc\"> </span>-</span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _10e\"> </span>212<span class=\"_ _65\"> </span>-2<span class=\"_ _3\"></span>34<span class=\"_ _b0\"> </span>-75<span class=\"_ _e1\"> </span><span class=\"lsda wsf7\">-94<span class=\"_ _1fc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">-4<span class=\"_ _3\"></span>03<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-191<span class=\"_ _6c\"> </span></span></span></span>3,<span class=\"_ _3\"></span>546<span class=\"_ _10c\"> </span><span class=\"ls4 ws4\">-3<span class=\"_ _3\"></span>,669</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _31\"> </span>62,872<span class=\"_ _43\"> </span>58,<span class=\"_ _3\"></span>751<span class=\"_ _94\"> </span>31<span class=\"_ _3\"></span>,690<span class=\"_ _68\"> </span><span class=\"lse7 ws104\">9,0<span class=\"_ _3\"></span>82<span class=\"_ _b\"> </span></span>-<span class=\"_ _94\"> </span>9<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>23<span class=\"_ _36\"> </span>162<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>96<span class=\"_ _1a8\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _1\"> </span>5<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1aa\"> </span><span class=\"lsfc ws119\">143<span class=\"_ _3\"></span>,63<span class=\"_ _3\"></span>0</span></span>Carrying amountOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _11b\"> </span>78,6<span class=\"_ _3\"></span>02<span class=\"_ _43\"> </span>2<span class=\"_ _3\"></span>9,71<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>031<span class=\"_ _235\"> </span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span>3,79<span class=\"_ _3\"></span>4<span class=\"_ _9c\"> </span>48<span class=\"_ _3\"></span>,28<span class=\"_ _3\"></span>5<span class=\"_ _46\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>,88<span class=\"_ _3\"></span>7<span class=\"_ _3a\"> </span><span class=\"ls36 ws40\">123,47<span class=\"_ _0\"></span>4<span class=\"_ _fe\"> </span><span class=\"lsee ws10b\">13<span class=\"_ _3\"></span>5,469</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b3\"> </span>69,<span class=\"_ _3\"></span>67<span class=\"_ _3\"></span>7<span class=\"_ _40\"> </span>28,815<span class=\"_ _54\"> </span>1<span class=\"_ _3\"></span>2,<span class=\"_ _3\"></span>396<span class=\"_ _8e\"> </span>4,7<span class=\"_ _3\"></span>31<span class=\"_ _1a4\"> </span>7,<span class=\"_ _1\"> </span>2<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _70\"> </span>53,181<span class=\"_ _36\"> </span>122,856<span class=\"_ _3d\"> </span><span class=\"ls10e ws12b\">126<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>86<span class=\"_ _52\"> </span><span class=\"ls36 ws40\">123,473</span></span>(*) E<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns fo<span class=\"_ _3\"></span>r IF<span class=\"_ _3\"></span>RS16<span class=\"_ _3\"></span>. Ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ndit<span class=\"_ _3\"></span>ures fo<span class=\"_ _3\"></span>r tan<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ble as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in 2022<span class=\"_ _3\"></span>, exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g the<span class=\"_ _3\"></span> imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of IFRS<span class=\"_ _3\"></span>16, am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t to 19 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro. Maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in 2022 con<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>urch<span class=\"_ _3\"></span>ase of l<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>w fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n Chin<span class=\"_ _3\"></span>a, Wux<span class=\"_ _3\"></span>i (4 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d rene<span class=\"_ _3\"></span>wal o<span class=\"_ _3\"></span>f dem<span class=\"_ _3\"></span>o exp<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>nce center<span class=\"_ _3\"></span>s (2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. I<span class=\"_ _3\"></span>n 2021<span class=\"_ _3\"></span>, maj<span class=\"_ _3\"></span>or c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ex con<span class=\"_ _3\"></span>cern<span class=\"_ _3\"></span>ed t<span class=\"_ _3\"></span>he new fact<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y in<span class=\"_ _0\"></span> China, Su<span class=\"_ _0\"></span>zhou, both<span class=\"_ _0\"></span> facility and<span class=\"_ _0\"></span> production rela<span class=\"_ _3\"></span>ted (2021: 8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2020: 3.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro). Othe<span class=\"_ _3\"></span>r fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d cap<span class=\"_ _3\"></span>ex i<span class=\"_ _3\"></span>n 2020 relate to th<span class=\"_ _3\"></span>e sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>are la<span class=\"_ _3\"></span>b in N<span class=\"_ _3\"></span>oid<span class=\"_ _3\"></span>a (1<span class=\"_ _3\"></span>.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro) an<span class=\"_ _3\"></span>d he<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g, ve<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>irco inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Kor<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ijk a<span class=\"_ _3\"></span>nd D<span class=\"_ _3\"></span>ulu<span class=\"_ _3\"></span>th fa<span class=\"_ _3\"></span>cili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>.1 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro).In ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>iture<span class=\"_ _3\"></span>s incl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>e mach<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd too<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g lin<span class=\"_ _3\"></span>ked to new p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>t deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts (<span class=\"_ _3\"></span>2022: 2 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro; 2021: 2.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 3.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), I<span class=\"_ _3\"></span>T hard<span class=\"_ _3\"></span><span class=\"ws4\">-</span>ware e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>ent (<span class=\"_ _3\"></span>2022: 2.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: 2.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2020: 1.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) and l<span class=\"_ _3\"></span>easi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts w<span class=\"_ _3\"></span>ith cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a custo<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>s (2022: 3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).Th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>in ta<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xed as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t, rea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ized in th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d 2015 \u2013 201<span class=\"_ _3\"></span>9, relates to th<span class=\"_ _3\"></span>e hea<span class=\"_ _3\"></span>dq<span class=\"_ _3\"></span>uar<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>rs of Ba<span class=\"_ _3\"></span>rco and th<span class=\"_ _3\"></span>e ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r 50 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro. T<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et b<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>k valu<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>r 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 29.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro.Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ure for t<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s in 2022 e<span class=\"_ _3\"></span>qua<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s the EU t<span class=\"_ _3\"></span>axon<span class=\"_ _3\"></span>omy e<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gib<span class=\"_ _3\"></span>le C<span class=\"_ _3\"></span>apE<span class=\"_ _3\"></span>x as t<span class=\"_ _3\"></span>he tot<span class=\"_ _3\"></span>al am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of Ca<span class=\"_ _3\"></span>pE<span class=\"_ _3\"></span>X rel<span class=\"_ _3\"></span>ates so<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>ly to ass<span class=\"_ _3\"></span>ets o<span class=\"_ _3\"></span>r pro<span class=\"_ _3\"></span>cess<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ciated w<span class=\"_ _3\"></span>ith Ba<span class=\"_ _3\"></span>rco econo<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>c act<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed in s<span class=\"_ _3\"></span>ect<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n \u201cT<span class=\"_ _0\"></span>axonom<span class=\"_ _0\"></span>y-<span class=\"_ _3\"></span>eligible ec<span class=\"_ _0\"></span>onomic activi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y - T<span class=\"_ _2\"></span>urnov<span class=\"_ _0\"></span>er\u201d<span class=\"_ _0\"></span>.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>2 mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>late to th<span class=\"_ _3\"></span>e sal<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e bui<span class=\"_ _3\"></span>ldi<span class=\"_ _3\"></span>ng in No<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, w<span class=\"_ _3\"></span>hich h<span class=\"_ _3\"></span>ad a n<span class=\"_ _3\"></span>et bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of 4.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>isp<span class=\"_ _3\"></span>osa<span class=\"_ _3\"></span>ls re<span class=\"_ _3\"></span>late to old m<span class=\"_ _3\"></span>ach<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y &amp; eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>pm<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>rnit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten do<span class=\"_ _3\"></span>wn.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 202<span class=\"_ _3\"></span>1 ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y relate to ol<span class=\"_ _3\"></span>d ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y &amp; equ<span class=\"_ _3\"></span>ipm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d fur<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>ure, wh<span class=\"_ _3\"></span>ich a<span class=\"_ _3\"></span>re no lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>er in u<span class=\"_ _3\"></span>se an<span class=\"_ _3\"></span>d fu<span class=\"_ _3\"></span>lly w<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ten dow<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le of p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of t<span class=\"_ _3\"></span>he la<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>g in K<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>ruh<span class=\"_ _3\"></span>e.Dis<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s in 2020 m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ate to the cl<span class=\"_ _3\"></span>osure o<span class=\"_ _3\"></span>f the T<span class=\"_ _0\"></span>a<span class=\"_ _3\"></span>iwa<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>y, toget<span class=\"_ _3\"></span>her w<span class=\"_ _3\"></span>ith o<span class=\"_ _3\"></span>ld ma<span class=\"_ _3\"></span>chin<span class=\"_ _3\"></span>er<span class=\"_ _1\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he cl<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he T<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span>iw<span class=\"_ _3\"></span>ane<span class=\"_ _3\"></span>se U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM-<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d hal<span class=\"_ _3\"></span>f of 2020 resulte<span class=\"_ _3\"></span>d in an i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent o<span class=\"_ _3\"></span>f 5.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro mai<span class=\"_ _3\"></span>nly re<span class=\"_ _3\"></span>lated to t<span class=\"_ _3\"></span>he ma<span class=\"_ _3\"></span>chi<span class=\"_ _3\"></span>ner<span class=\"_ _1\"></span>y an<span class=\"_ _3\"></span>d equ<span class=\"_ _3\"></span>ip<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t (see n<span class=\"_ _3\"></span>ote 5 'Re<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'). Th<span class=\"_ _3\"></span>e closu<span class=\"_ _3\"></span>re was li<span class=\"_ _3\"></span>nked to the d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n to out<span class=\"_ _3\"></span>sou<span class=\"_ _3\"></span>rce the U<span class=\"_ _3\"></span>nise<span class=\"_ _3\"></span>e LCM pane<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>red th<span class=\"_ _3\"></span>e pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of ma<span class=\"_ _3\"></span>croe<span class=\"_ _3\"></span>co<span class=\"ls4 ws4\">-</span>no<span class=\"_ _3\"></span>mic i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the u<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>izati<span class=\"_ _3\"></span>on leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s of it<span class=\"_ _3\"></span>s fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd pote<span class=\"_ _3\"></span>ntia<span class=\"_ _3\"></span>l imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent of it<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>achi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uip<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ana<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>is di<span class=\"_ _3\"></span>d not co<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de a<span class=\"_ _3\"></span>n imp<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>rme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>. See \u2018C<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accou<span class=\"_ _3\"></span>nt<span class=\"ls4 ws4\">-</span>ing j<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s and ke<span class=\"_ _3\"></span>y sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e ma<span class=\"_ _3\"></span>croeco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic envir<span class=\"_ _0\"></span>onment on Bar<span class=\"_ _0\"></span>co\u2019<span class=\"_ _0\"></span>s operations.LeasesTh<span class=\"_ _3\"></span>is note p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>es m<span class=\"_ _3\"></span>ore info<span class=\"_ _3\"></span>rmat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n for leas<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>ere th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up is a le<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>e.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ce sh<span class=\"_ _3\"></span>eet sh<span class=\"_ _3\"></span>ows t<span class=\"_ _3\"></span>he fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>atin<span class=\"_ _3\"></span>g to le<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _256\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _ad\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _235\"> </span>2020</span>Buildings<span class=\"_ _1aa\"> </span>Ve<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _76\"> </span><span class=\"ls128 ws151\">To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _ad\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _63\"> </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _10a\"> </span>3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _1a4\"> </span>9,3<span class=\"_ _3\"></span>87<span class=\"_ _54\"> </span>46<span class=\"_ _3\"></span>,922<span class=\"_ _68\"> </span><span class=\"lsfe ws11b\">39,013<span class=\"_ _43\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _2\"></span>,965</span></span>Ne<span class=\"_ _3\"></span>w lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>r ex<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of cur<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _22a\"> </span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>9<span class=\"_ _76\"> </span>3,<span class=\"_ _3\"></span>387<span class=\"_ _43\"> </span>10,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _235\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,702<span class=\"_ _43\"> </span><span class=\"ls191 ws255\">11,000</span></span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _10b\"> </span>-<span class=\"_ _3\"></span>4,892<span class=\"_ _60\"> </span>-1<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>5<span class=\"_ _43\"> </span>-<span class=\"_ _3\"></span>6,586<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>4,4<span class=\"_ _3\"></span>03<span class=\"_ _43\"> </span><span class=\"ls3c ws48\">-8,<span class=\"_ _3\"></span>290</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _1cd\"> </span>-7<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>-<span class=\"_ _3\"></span>40<span class=\"_ _bb\"> </span>-1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>7<span class=\"_ _78\"> </span><span class=\"lsf0 ws10d\">1,61<span class=\"_ _3\"></span>1<span class=\"_ _7b\"> </span><span class=\"lsed ws10a\">-1,663</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>40,1<span class=\"_ _0\"></span>64<span class=\"_ _10\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>041<span class=\"_ _40\"> </span>51,2<span class=\"_ _0\"></span>05<span class=\"_ _60\"> </span><span class=\"lsea ws107\">46,92<span class=\"_ _3\"></span>2<span class=\"_ _40\"> </span><span class=\"lsfe ws11b\">39,013</span></span>Depreciat<span class=\"_ _0\"></span>ion and impai<span class=\"_ _0\"></span>rmentOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _225\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>0<span class=\"_ _43\"> </span><span class=\"lsfc ws119\">-4,<span class=\"_ _3\"></span>439<span class=\"_ _10c\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _10\"> </span></span></span>-1<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>41<span class=\"_ _1\"></span>5<span class=\"_ _43\"> </span><span class=\"ls167 ws22d\">-9,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8</span></span>Deprecia<span class=\"_ _0\"></span>tion<span class=\"_ _257\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _255\"> </span>-2,604<span class=\"_ _70\"> </span>-<span class=\"_ _3\"></span>9,5<span class=\"_ _3\"></span>39<span class=\"_ _70\"> </span><span class=\"ls106 ws123\">-10,0<span class=\"_ _3\"></span>23<span class=\"_ _10c\"> </span>-10<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>T<span class=\"_ _0\"></span>ermination o<span class=\"_ _0\"></span>f leases<span class=\"_ _258\"> </span>2,608<span class=\"_ _76\"> </span>1,533<span class=\"_ _62\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>141<span class=\"_ _65\"> </span><span class=\"lsdd wsfa\">3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>56<span class=\"_ _8e\"> </span><span class=\"lsda wsf7\">5,3<span class=\"_ _3\"></span>72</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _9a\"> </span><span class=\"ls3c ws48\">123<span class=\"_ _22a\"> </span>23<span class=\"_ _7e\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _3\"></span>6<span class=\"_ _67\"> </span></span>-<span class=\"_ _3\"></span>636<span class=\"_ _67\"> </span><span class=\"ls10e ws12b\">495</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _191\"> </span>-20,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>4<span class=\"_ _10\"> </span><span class=\"lse3 ws100\">-5<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>87<span class=\"_ _151\"> </span></span>-26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span><span class=\"ls3c ws48\">-21,119<span class=\"_ _151\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>5</span></span>Right<span class=\"_ _0\"></span>-of<span class=\"_ _0\"></span>-use assetsOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1d2\"> </span>20,855<span class=\"_ _100\"> </span>4,949<span class=\"_ _54\"> </span>25,803<span class=\"_ _60\"> </span><span class=\"ls167 ws22d\">24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>98<span class=\"_ _43\"> </span><span class=\"lsea ws107\">28,0<span class=\"_ _3\"></span>17</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _1b4\"> </span>19,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>80<span class=\"_ _6c\"> </span>5<span class=\"_ _3\"></span>,55<span class=\"_ _3\"></span>4<span class=\"_ _8c\"> </span><span class=\"ls167 ws22d\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>83<span class=\"_ _3\"></span>4<span class=\"_ _7b\"> </span><span class=\"ls139 ws168\">25,803<span class=\"_ _8c\"> </span></span>24,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>8</span>Ad<span class=\"_ _3\"></span>diti<span class=\"_ _3\"></span>ons to th<span class=\"_ _3\"></span>e ri<span class=\"_ _3\"></span>ght-<span class=\"_ _3\"></span>of-<span class=\"_ _3\"></span>use a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022 we<span class=\"_ _3\"></span>re 11 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro (2021: 10.7 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 11 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro) sp<span class=\"_ _3\"></span>lit over lea<span class=\"_ _3\"></span>sed b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ldin<span class=\"_ _3\"></span>gs (202<span class=\"_ _3\"></span>2: 7<span class=\"_ _2\"></span>.6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro; 2021: 9 mill<span class=\"_ _3\"></span>ion euro) a<span class=\"_ _3\"></span>nd lea<span class=\"_ _3\"></span>sed ve<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>cles (202<span class=\"_ _3\"></span>2: 3.4 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro; 2021: 1.7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re bot<span class=\"_ _3\"></span>h ren<span class=\"_ _3\"></span>ewa<span class=\"_ _3\"></span>ls of e<span class=\"_ _3\"></span>xis<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g leas<span class=\"_ _3\"></span>e agre<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s as we<span class=\"_ _3\"></span>ll as n<span class=\"_ _3\"></span>ew lea<span class=\"_ _3\"></span>se ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>n US, Swe<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d Sou<span class=\"_ _3\"></span>th Korea ove<span class=\"_ _3\"></span>r a leas<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of res<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>vely 2 ye<span class=\"_ _3\"></span>ars<span class=\"_ _3\"></span>, 3 ye<span class=\"_ _0\"></span>ars and 5 ye<span class=\"_ _0\"></span>ars.We refer to note 14 for mo<span class=\"_ _3\"></span>re infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent of p<span class=\"_ _3\"></span>rofit o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s sho<span class=\"_ _3\"></span>ws th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nts re<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ing to le<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s:Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l cas<span class=\"_ _3\"></span>h out<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>low for le<span class=\"_ _3\"></span>ases i<span class=\"_ _3\"></span>n 2022 wa<span class=\"_ _3\"></span>s 9.2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro (2021: 9.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 1<span class=\"_ _0\"></span>0<span class=\"_ _3\"></span>.8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1bc\"> </span>31 DEC 2022<span class=\"_ _96\"> </span>31 DEC 202<span class=\"_ _3\"></span>1<span class=\"_ _e9\"> </span>31 DEC 2020Buildings<span class=\"_ _259\"> </span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>6<span class=\"_ _4a\"> </span><span class=\"ls19c ws271\">-<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _4e\"> </span>-<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>4</span>Vehic<span class=\"_ _0\"></span>les<span class=\"_ _168\"> </span>-2,604<span class=\"_ _147\"> </span><span class=\"lsfe ws11b\">-2,433<span class=\"_ _89\"> </span><span class=\"lse0 wsfd\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>390</span></span>T<span class=\"_ _0\"></span>otal depreciat<span class=\"_ _0\"></span>ion charge of<span class=\"_ _0\"></span> right<span class=\"_ _0\"></span>-of-<span class=\"_ _0\"></span>use assets<span class=\"_ _ed\"> </span>-9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>9<span class=\"_ _148\"> </span><span class=\"ls1ad ws27f\">-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _98\"> </span>-10<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4</span>Inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e (in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>nce cos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>)<span class=\"_ _25a\"> </span>-1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _147\"> </span><span class=\"ls106 ws123\">-1,<span class=\"_ _3\"></span>06<span class=\"_ _3\"></span>6<span class=\"_ _c1\"> </span><span class=\"ls191 ws255\">-1,<span class=\"_ _0\"></span>000</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _6f\"> </span>0<span class=\"_ _6c\"> </span><span class=\"ls106 ws123\">-17<span class=\"_ _100\"> </span><span class=\"ls103 ws120\">-<span class=\"_ _1\"></span>41</span></span>Ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e rel<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g to lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>f low<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>at a<span class=\"_ _3\"></span>re no<span class=\"_ _3\"></span>t sh<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>ove as s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-te<span class=\"_ _3\"></span>rm l<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>es<span class=\"_ _d\"> </span>-1<span class=\"_ _3\"></span>9<span class=\"_ _71\"> </span><span class=\"lsf7 ws114\">-<span class=\"_ _3\"></span>24<span class=\"_ _71\"> </span><span class=\"lsf0 ws10d\">-26</span></span>10. Deferred tax assets \u2013 deferred tax liabilitiesTh<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>sset a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>rise<span class=\"_ _3\"></span>s temp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>rar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences a<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>tributable t<span class=\"_ _0\"></span>o:As<span class=\"_ _3\"></span>sets<span class=\"_ _207\"> </span><span class=\"ls6e wsc0\">Liabilities<span class=\"_ _225\"> </span>Net asset/(<span class=\"_ _0\"></span>liabilit<span class=\"_ _3\"></span>y)</span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020<span class=\"_ _6e\"> </span>2022<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020<span class=\"_ _6e\"> </span>2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020</span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1d7\"> </span>1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>0<span class=\"_ _4b\"> </span><span class=\"ls109 ws126\">26,586<span class=\"_ _ff\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,616<span class=\"_ _d0\"> </span></span></span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _9c\"> </span>1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>0<span class=\"_ _4b\"> </span><span class=\"ls109 ws126\">26,586<span class=\"_ _9c\"> </span><span class=\"lsf4 ws111\">13<span class=\"_ _3\"></span>,616</span></span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>s<span class=\"_ _1ca\"> </span>13,721<span class=\"_ _10c\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>01<span class=\"_ _1a8\"> </span><span class=\"lsed ws10a\">22,854<span class=\"_ _d0\"> </span></span></span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _8c\"> </span>1<span class=\"_ _3\"></span>3,721<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>201<span class=\"_ _1a8\"> </span><span class=\"lsed ws10a\">22,85<span class=\"_ _3\"></span>4</span></span>Def<span class=\"_ _3\"></span>erre<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e<span class=\"_ _197\"> </span>10,<span class=\"_ _3\"></span>227<span class=\"_ _60\"> </span>9,9<span class=\"_ _3\"></span>61<span class=\"_ _10\"> </span>5,082<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _235\"> </span><span class=\"lsf0 ws10d\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>42<span class=\"_ _10c\"> </span></span>10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>27<span class=\"_ _60\"> </span><span class=\"lsdd wsfa\">9,96<span class=\"_ _3\"></span>1<span class=\"_ _40\"> </span><span class=\"lsfb ws118\">4,6<span class=\"_ _3\"></span>40</span></span>Inv<span class=\"_ _3\"></span>ento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _229\"> </span>8,837<span class=\"_ _70\"> </span>8,57<span class=\"_ _3\"></span>3<span class=\"_ _60\"> </span><span class=\"lse3 ws100\">9,1<span class=\"_ _3\"></span>33<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">-211<span class=\"_ _ad\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>4<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _10\"> </span><span class=\"lsf0 ws10d\">8<span class=\"_ _3\"></span>,626<span class=\"_ _255\"> </span><span class=\"lse0 wsfd\">8,<span class=\"_ _3\"></span>539<span class=\"_ _60\"> </span></span></span></span></span></span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>33</span>Provisions<span class=\"_ _15b\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,062<span class=\"_ _6e\"> </span><span class=\"lse7 ws104\">8,<span class=\"_ _3\"></span>47<span class=\"_ _3\"></span>7<span class=\"_ _8c\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>97<span class=\"_ _ad\"> </span><span class=\"ls109 ws126\">122<span class=\"_ _ad\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>2<span class=\"_ _63\"> </span><span class=\"lsdc wsf9\">-142<span class=\"_ _6e\"> </span></span></span></span></span></span>6,18<span class=\"_ _3\"></span>4<span class=\"_ _43\"> </span><span class=\"lsfe ws11b\">8,4<span class=\"_ _3\"></span>45<span class=\"_ _178\"> </span></span>1<span class=\"_ _3\"></span>2,05<span class=\"_ _3\"></span>4</span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re<span class=\"_ _cd\"> </span>1,58<span class=\"_ _3\"></span>0<span class=\"_ _6e\"> </span>2<span class=\"_ _3\"></span>,031<span class=\"_ _60\"> </span>1<span class=\"_ _3\"></span>,73<span class=\"_ _3\"></span>4<span class=\"_ _1a4\"> </span>-363<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>678<span class=\"_ _8e\"> </span>-92<span class=\"_ _3\"></span>5<span class=\"_ _100\"> </span><span class=\"lsed ws10a\">1,217<span class=\"_ _60\"> </span><span class=\"ls89 wsa4\">1,<span class=\"_ _3\"></span>353<span class=\"_ _6a\"> </span></span>809</span>Empl<span class=\"_ _3\"></span>oyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>its<span class=\"_ _197\"> </span>1<span class=\"_ _3\"></span>,333<span class=\"_ _60\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>024<span class=\"_ _65\"> </span>8<span class=\"_ _3\"></span>43<span class=\"_ _11\"> </span>258<span class=\"_ _7e\"> </span>88<span class=\"_ _1a4\"> </span><span class=\"ls131 ws161\">-<span class=\"_ _3\"></span>525<span class=\"_ _71\"> </span></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591<span class=\"_ _68\"> </span><span class=\"ls133 ws162\">1<span class=\"_ _3\"></span>,11<span class=\"_ _3\"></span>2<span class=\"_ _73\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>8</span></span>T<span class=\"_ _0\"></span>rade debt<span class=\"_ _0\"></span>ors<span class=\"_ _206\"> </span><span class=\"ls103 ws120\">416<span class=\"_ _65\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _11\"> </span></span>4<span class=\"_ _3\"></span>07<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _ad\"> </span></span>416<span class=\"_ _11\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _65\"> </span></span>407</span>Other investments<span class=\"_ _25b\"> </span>54<span class=\"_ _73\"> </span>319<span class=\"_ _ad\"> </span>797<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _de\"> </span></span>54<span class=\"_ _73\"> </span><span class=\"lsde wsfb\">319<span class=\"_ _25c\"> </span><span class=\"lsdd wsfa\">797</span></span>Capitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment co<span class=\"_ _0\"></span>st<span class=\"_ _1cd\"> </span><span class=\"ls4 ws4\">6<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _c0\"> </span>6<span class=\"_ _d0\"> </span>-<span class=\"_ _1dc\"> </span>-</span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (I<span class=\"_ _3\"></span>FRI<span class=\"_ _3\"></span>C 23<span class=\"_ _3\"></span>)<span class=\"_ _b6\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _151\"> </span>-3,0<span class=\"_ _3\"></span>60<span class=\"_ _8c\"> </span>-3,<span class=\"_ _3\"></span>120<span class=\"_ _151\"> </span><span class=\"lsda wsf7\">-3,400<span class=\"_ _178\"> </span></span>-3<span class=\"_ _3\"></span>,060<span class=\"_ _8c\"> </span><span class=\"ls138 ws167\">-3<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>20<span class=\"_ _151\"> </span><span class=\"lsda wsf7\">-<span class=\"_ _0\"></span>3,400</span></span>Patents, licenses, .<span class=\"_ _0\"></span>..<span class=\"_ _25d\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _ff\"> </span><span class=\"lse0 wsfd\">-5<span class=\"_ _3\"></span>,704<span class=\"_ _8c\"> </span>-3<span class=\"_ _3\"></span>,792<span class=\"_ _10c\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,688<span class=\"_ _ff\"> </span></span>-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>,704<span class=\"_ _8c\"> </span>-3<span class=\"_ _3\"></span>,792<span class=\"_ _10c\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,688</span></span>Other it<span class=\"_ _0\"></span>ems<span class=\"_ _248\"> </span>852<span class=\"_ _65\"> </span><span class=\"lse7 ws104\">43<span class=\"_ _3\"></span>5<span class=\"_ _11\"> </span><span class=\"lse9 ws106\">589<span class=\"_ _73\"> </span></span></span>-40<span class=\"_ _73\"> </span>-<span class=\"_ _3\"></span>68<span class=\"_ _73\"> </span>-64<span class=\"_ _73\"> </span>812<span class=\"_ _73\"> </span><span class=\"ls3c ws48\">367<span class=\"_ _11\"> </span><span class=\"ls131 ws161\">52<span class=\"_ _3\"></span>5</span></span>Gross tax asse<span class=\"_ _0\"></span>ts/(liabilities<span class=\"_ _0\"></span>)61,0<span class=\"_ _3\"></span>08<span class=\"_ _4b\"> </span>67<span class=\"_ _0\"></span>,969<span class=\"_ _178\"> </span><span class=\"ls199 wsd9\">6<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _4b\"> </span></span>-8,998<span class=\"_ _9c\"> </span>-7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _9c\"> </span>-9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>87<span class=\"_ _4b\"> </span>5<span class=\"_ _3\"></span>2,010<span class=\"_ _3a\"> </span><span class=\"lsfb ws118\">60,<span class=\"_ _3\"></span>333<span class=\"_ _46\"> </span><span class=\"ls139 ws168\">58,066</span></span>Of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x-<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>769<span class=\"_ _54\"> </span><span class=\"lsdc wsf9\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>14<span class=\"_ _9c\"> </span><span class=\"ls103 ws120\">-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>41<span class=\"_ _6e\"> </span></span></span>5<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>9<span class=\"_ _6e\"> </span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>814<span class=\"_ _60\"> </span>4,4<span class=\"_ _3\"></span>41<span class=\"_ _d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _d0\"> </span>-</span>Net tax assets/(liabili<span class=\"_ _3\"></span>ties)55,<span class=\"_ _3\"></span>239<span class=\"_ _4b\"> </span><span class=\"lsfb ws118\">64,<span class=\"_ _3\"></span>155<span class=\"_ _178\"> </span><span class=\"ls131 ws161\">62<span class=\"_ _3\"></span>,811<span class=\"_ _151\"> </span><span class=\"ls10d ws12a\">-3,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>9<span class=\"_ _151\"> </span>-3,<span class=\"_ _1\"></span>82<span class=\"_ _3\"></span>2<span class=\"_ _10c\"> </span><span class=\"ls107 ws124\">-<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>5<span class=\"_ _4b\"> </span><span class=\"lse6 ws103\">52<span class=\"_ _3\"></span>,010<span class=\"_ _3a\"> </span></span></span></span></span>60,<span class=\"_ _3\"></span>333<span class=\"_ _46\"> </span><span class=\"ls139 ws168\">58,066</span></span>Move<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e defer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s / (li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ies) a<span class=\"_ _3\"></span>rise f<span class=\"_ _3\"></span>rom th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g:Net d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s recogn<span class=\"_ _3\"></span>ized pr<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>ril<span class=\"_ _3\"></span>y rela<span class=\"_ _3\"></span>te to the ta<span class=\"_ _3\"></span>x val<span class=\"_ _3\"></span>ue of los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rds (1<span class=\"_ _3\"></span>3.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds recei<span class=\"_ _3\"></span>ved exe<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion (<span class=\"_ _3\"></span>3.0 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), intel<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l prop<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y regi<span class=\"_ _3\"></span>mes (<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n Euro) and o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r ta<span class=\"_ _3\"></span>x credit<span class=\"_ _3\"></span>s c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ied fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd (1<span class=\"_ _3\"></span>.4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) pri<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>ily re<span class=\"_ _3\"></span>late to Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um. O<span class=\"_ _3\"></span>n top of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se items for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch a net d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax is reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed, th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up owns t<span class=\"_ _3\"></span>ax lo<span class=\"_ _3\"></span>sse<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rri<span class=\"_ _3\"></span>ed for<span class=\"_ _1\"></span>ward a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unti<span class=\"_ _3\"></span>ng to 70.<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro as o<span class=\"_ _3\"></span>f 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 (8<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>1) for whi<span class=\"_ _3\"></span>ch a va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n allo<span class=\"_ _3\"></span>wan<span class=\"_ _3\"></span>ce has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n record<span class=\"_ _3\"></span>ed (res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>n a val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>on a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce of 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro (20.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro in 2021<span class=\"_ _3\"></span>) on d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized i<span class=\"_ _3\"></span>n relat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to tax loss<span class=\"_ _3\"></span>es c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd). A valu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n al<span class=\"_ _3\"></span>lowa<span class=\"_ _3\"></span>nce is reco<span class=\"_ _3\"></span>rded o<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span>se item<span class=\"_ _3\"></span>s be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use it is n<span class=\"_ _3\"></span>ot p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll b<span class=\"_ _3\"></span>e uti<span class=\"_ _3\"></span>lized wit<span class=\"_ _3\"></span>hin t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>ir st<span class=\"_ _3\"></span>atu<span class=\"_ _3\"></span>e of li<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns o<span class=\"_ _3\"></span>r that t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it wil<span class=\"_ _3\"></span>l be av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le in t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>ear f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>n be ut<span class=\"_ _3\"></span>ilized<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>x los<span class=\"_ _3\"></span>ses c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch an all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ce has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n record<span class=\"_ _3\"></span>ed h<span class=\"_ _3\"></span>ave no ex<span class=\"_ _3\"></span>pir<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on da<span class=\"_ _3\"></span>te.ne<span class=\"_ _3\"></span>ed to ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rate fu<span class=\"_ _3\"></span>ture ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit i<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>untr<span class=\"_ _3\"></span>ies w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re the n<span class=\"_ _3\"></span>et op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng los<span class=\"_ _3\"></span>ses a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r items c<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d for<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd were incu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>. Bas<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>n the l<span class=\"_ _3\"></span>evel of h<span class=\"_ _3\"></span>isto<span class=\"_ _3\"></span>ric<span class=\"_ _3\"></span>al t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re tax<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>e prof<span class=\"_ _3\"></span>it over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s in whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s are d<span class=\"_ _3\"></span>edu<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>le, ma<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>gem<span class=\"_ _3\"></span>ent be<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>ves it is p<span class=\"_ _3\"></span>roba<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>hat t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>roup w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>le to uti<span class=\"_ _3\"></span>lize the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>eferre<span class=\"_ _3\"></span>d ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s.Barco ha<span class=\"_ _3\"></span>s not reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>zed incom<span class=\"_ _3\"></span>e ta<span class=\"_ _3\"></span>xes o<span class=\"_ _3\"></span>n und<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uted ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs of it<span class=\"_ _3\"></span>s su<span class=\"_ _3\"></span>bsid<span class=\"_ _3\"></span>iar<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s whi<span class=\"_ _3\"></span>ch wil<span class=\"_ _3\"></span>l not b<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e forese<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>ble f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>e cum<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tive a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of u<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted ear<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>gs (ir<span class=\"_ _3\"></span>resp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve of ta<span class=\"_ _3\"></span>x treatm<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>xemp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns) on w<span class=\"_ _3\"></span>hich the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p has n<span class=\"_ _3\"></span>ot recog<span class=\"_ _3\"></span>nized in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e taxe<span class=\"_ _3\"></span>s was a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>roximate<span class=\"_ _3\"></span>ly 48<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro p<span class=\"_ _3\"></span>er D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 31, 202<span class=\"_ _3\"></span>2 (2021: 50<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n euro, 2020: 478 mill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro).A<span class=\"_ _3\"></span>s at Reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh Rec<span class=\"_ _0\"></span>ognized<span class=\"_ _0\"></span> <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exc<span class=\"_ _3\"></span>han<span class=\"_ _3\"></span>ge g<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d A<span class=\"_ _3\"></span>s at <span class=\"_ _21\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro1 Jan<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y 2022 income<span class=\"_ _0\"></span> statementthro<span class=\"_ _3\"></span>ug<span class=\"_ _3\"></span>h OCI<span class=\"_ _73\"> </span><span class=\"ls9f wsbe\">Acquisitions</span>losses31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x cred<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _248\"> </span>26,586<span class=\"_ _90\"> </span><span class=\"ls138 ws167\">-8<span class=\"_ _3\"></span>,687<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"ls139 ws168\">21<span class=\"_ _cb\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>0</span></span>T<span class=\"_ _0\"></span>ax v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue o<span class=\"_ _3\"></span>f los<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ard<span class=\"_ _3\"></span>s<span class=\"_ _126\"> </span>10,20<span class=\"_ _3\"></span>1<span class=\"_ _1f4\"> </span><span class=\"ls42 ws6f\">3,<span class=\"_ _3\"></span>504<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _252\"> </span><span class=\"lsda wsf7\">13,721</span></span>Def<span class=\"_ _3\"></span>erre<span class=\"_ _3\"></span>d reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e<span class=\"_ _25f\"> </span>9,9<span class=\"_ _3\"></span>61<span class=\"_ _20a\"> </span><span class=\"lsde wsfb\">-328<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _c9\"> </span><span class=\"lse7 ws104\">594<span class=\"_ _90\"> </span></span></span>10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>27</span>Inv<span class=\"_ _3\"></span>ento<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _1f8\"> </span>8,<span class=\"_ _3\"></span>539<span class=\"_ _1f1\"> </span>-163<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _c9\"> </span><span class=\"ls89 wsa4\">250<span class=\"_ _1f4\"> </span><span class=\"lsf0 ws10d\">8<span class=\"_ _3\"></span>,626</span></span>Provisions<span class=\"_ _23c\"> </span>8<span class=\"_ _3\"></span>,445<span class=\"_ _1d0\"> </span>2,4<span class=\"_ _3\"></span>83<span class=\"_ _b3\"> </span>-<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>599<span class=\"_ _25e\"> </span>-<span class=\"_ _260\"> </span><span class=\"lsdc wsf9\">-14<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span><span class=\"lsfb ws118\">6,184</span></span>Empl<span class=\"_ _3\"></span>oyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>its<span class=\"_ _261\"> </span>1,1<span class=\"_ _3\"></span>12<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">478<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _1b7\"> </span>1<span class=\"_ _22\"> </span></span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591</span>T<span class=\"_ _0\"></span>an<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le fi<span class=\"_ _3\"></span>xe<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d so<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re<span class=\"_ _205\"> </span>1,<span class=\"_ _3\"></span>353<span class=\"_ _20a\"> </span><span class=\"ls106 ws123\">-10<span class=\"_ _3\"></span>4<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _e3\"> </span><span class=\"lsf5 ws112\">-32<span class=\"_ _2b\"> </span><span class=\"lsed ws10a\">1,<span class=\"_ _3\"></span>217</span></span>T<span class=\"_ _0\"></span>rade debt<span class=\"_ _0\"></span>ors<span class=\"_ _199\"> </span><span class=\"ls131 ws161\">362<span class=\"_ _5b\"> </span></span>40<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _9b\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _e2\"> </span><span class=\"ls103 ws120\">416</span></span>Other investments<span class=\"_ _204\"> </span>31<span class=\"_ _3\"></span>9<span class=\"_ _20a\"> </span>-285<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _263\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _263\"> </span><span class=\"ls1b2 ws284\">54</span></span>Capitaliz<span class=\"_ _0\"></span>ed dev<span class=\"_ _0\"></span>elopment co<span class=\"_ _0\"></span>st<span class=\"_ _264\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _265\"> </span>6<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _265\"> </span>6</span>Un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (I<span class=\"_ _3\"></span>FRI<span class=\"_ _3\"></span>C 23<span class=\"_ _3\"></span>)<span class=\"_ _205\"> </span>-3,1<span class=\"_ _3\"></span>20<span class=\"_ _5b\"> </span><span class=\"lsed ws10a\">60<span class=\"_ _25e\"> </span></span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _39\"> </span><span class=\"lsf5 ws112\">-3<span class=\"_ _3\"></span>,060</span>Patents, licenses, .<span class=\"_ _0\"></span>..<span class=\"_ _48\"> </span><span class=\"lse0 wsfd\">-3,<span class=\"_ _3\"></span>792<span class=\"_ _e2\"> </span><span class=\"ls10b ws128\">-56<span class=\"_ _25e\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _252\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,49<span class=\"_ _3\"></span>4<span class=\"_ _20a\"> </span><span class=\"lsf5 ws112\">-362<span class=\"_ _90\"> </span></span></span></span></span>-<span class=\"_ _3\"></span>5,70<span class=\"_ _3\"></span>4</span>Other it<span class=\"_ _0\"></span>ems<span class=\"_ _200\"> </span>367<span class=\"_ _c9\"> </span>425<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _263\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _262\"> </span><span class=\"ls89 wsa4\">81<span class=\"_ _3\"></span>2</span></span>Net deferred tax<span class=\"_ _266\"> </span>60,<span class=\"_ _3\"></span>333<span class=\"_ _39\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>62<span class=\"_ _3\"></span>6<span class=\"_ _39\"> </span>-4,599<span class=\"_ _b3\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lsfe ws11b\">396<span class=\"_ _30\"> </span><span class=\"lse6 ws103\">5<span class=\"_ _3\"></span>2,010</span></span>In as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on of d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s, m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt consi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>heth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>t is prob<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le th<span class=\"_ _3\"></span>at so<span class=\"_ _3\"></span>me p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>r al<span class=\"_ _3\"></span>l of the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>alized w<span class=\"_ _3\"></span>ith<span class=\"_ _3\"></span>in th<span class=\"_ _3\"></span>e fores<span class=\"_ _3\"></span>eea<span class=\"_ _3\"></span>ble fut<span class=\"_ _3\"></span>ure. T<span class=\"_ _3\"></span>he ult<span class=\"_ _3\"></span>ima<span class=\"_ _3\"></span>te realizat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of defe<span class=\"_ _3\"></span>rred t<span class=\"_ _3\"></span>ax as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s is de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>nt up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e ge<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit d<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e periods in<span class=\"_ _0\"></span> which those<span class=\"_ _0\"></span> temporar<span class=\"_ _3\"></span>y differ<span class=\"_ _0\"></span>ences bec<span class=\"_ _0\"></span>om<span class=\"_ _3\"></span>e deduct<span class=\"_ _0\"></span><span class=\"ls4 ws4\">-</span>ible. M<span class=\"_ _0\"></span>anagem<span class=\"_ _3\"></span>ent c<span class=\"_ _0\"></span>onsiders the s<span class=\"_ _0\"></span>cheduled re<span class=\"_ _0\"></span>versal of de<span class=\"_ _0\"></span>ferred ta<span class=\"_ _3\"></span>x lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted fut<span class=\"_ _3\"></span>ure ta<span class=\"_ _3\"></span>xab<span class=\"_ _3\"></span>le p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>eab<span class=\"_ _3\"></span>le ta<span class=\"_ _3\"></span>x event<span class=\"_ _3\"></span>s in m<span class=\"_ _3\"></span>aki<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>his as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ssm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. In 2020 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n fu<span class=\"_ _3\"></span>ture t<span class=\"_ _3\"></span>axa<span class=\"_ _3\"></span>ble p<span class=\"_ _3\"></span>rofit w<span class=\"_ _3\"></span>as fa<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>red in i<span class=\"_ _3\"></span>n the<span class=\"_ _3\"></span> reali<span class=\"_ _3\"></span>zati<span class=\"_ _3\"></span>on as<span class=\"_ _3\"></span>ses<span class=\"_ _3\"></span>sm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. A tim<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od of 5 yea<span class=\"_ _3\"></span>rs is co<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>dere<span class=\"_ _3\"></span>d. In ord<span class=\"_ _3\"></span>er to fu<span class=\"_ _3\"></span>lly rea<span class=\"_ _3\"></span>lize the d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red ta<span class=\"_ _3\"></span>x as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p wil<span class=\"_ _3\"></span>l 11. Investments and interest in associatesInves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es in w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch Barco ow<span class=\"_ _3\"></span>ns les<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 20% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese a<span class=\"_ _3\"></span>re accounte<span class=\"_ _3\"></span>d for as f<span class=\"_ _3\"></span>air va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e throu<span class=\"_ _3\"></span>gh prof<span class=\"_ _3\"></span>it an<span class=\"_ _3\"></span>d los<span class=\"_ _3\"></span>s or ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, as dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d at mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of in<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>al reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>hic<span class=\"_ _3\"></span>h imp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>es that t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s on a fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is wit<span class=\"_ _3\"></span>h dif<span class=\"_ _3\"></span>fere<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in p<span class=\"_ _3\"></span>rofit a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>oss or other<span class=\"_ _0\"></span> comprehensiv<span class=\"_ _0\"></span>e income.(a<span class=\"_ _0\"></span>) Inv<span class=\"_ _0\"></span>estmentsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _268\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1d5\"> </span>2021<span class=\"_ _1ff\"> </span>2020</span>Op<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _269\"> </span><span class=\"ls19c ws271\">4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _1f1\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8<span class=\"_ _267\"> </span><span class=\"ls3c ws48\">23,2<span class=\"_ _3\"></span>15</span></span>Additions<span class=\"_ _26a\"> </span>14,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>93<span class=\"_ _1be\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _260\"> </span><span class=\"lsf5 ws112\">52,<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>3</span></span>Divestments<span class=\"_ _165\"> </span>-<span class=\"_ _3\"></span>4,384<span class=\"_ _da\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,9<span class=\"_ _3\"></span>93<span class=\"_ _1c7\"> </span><span class=\"ls4 ws4\">-</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e<span class=\"_ _25d\"> </span>-2<span class=\"_ _3\"></span>3,0<span class=\"_ _3\"></span>04<span class=\"_ _e3\"> </span><span class=\"lsdd wsfa\">9,9<span class=\"_ _3\"></span>45<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">18<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>331</span></span>T<span class=\"_ _0\"></span>ransl<span class=\"_ _3\"></span>ation gains/(losses)3,0<span class=\"_ _3\"></span>03<span class=\"_ _e3\"> </span><span class=\"lse9 ws106\">4,955</span>-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>591Clo<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 31 De<span class=\"_ _3\"></span>ce<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er<span class=\"_ _26b\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>5<span class=\"_ _267\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _a7\"> </span>8<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re meas<span class=\"_ _3\"></span>ured at m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket pri<span class=\"_ _3\"></span>ce. For in<span class=\"_ _3\"></span>vest<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re pub<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>cly qu<span class=\"_ _3\"></span>oted in a<span class=\"_ _3\"></span>n ac<span class=\"_ _3\"></span>tive m<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ket, t<span class=\"_ _3\"></span>he qu<span class=\"_ _3\"></span>oted mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>st m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue (<span class=\"_ _3\"></span>level 1<span class=\"_ _3\"></span>). Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus th<span class=\"_ _3\"></span>e car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>, resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n un<span class=\"_ _3\"></span>realized l<span class=\"_ _3\"></span>oss of -2<span class=\"_ _3\"></span>3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>her co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me. T<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>oss is ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y a gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e glo<span class=\"_ _3\"></span>bal s<span class=\"_ _3\"></span>tock m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>s in 2022 com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021. Fur<span class=\"_ _1\"></span>the<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, a ne<span class=\"_ _3\"></span>w min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w regu<span class=\"_ _3\"></span>lator<span class=\"_ _1\"></span>y thre<span class=\"_ _3\"></span>sho<span class=\"_ _3\"></span>ld leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s, wa<span class=\"_ _3\"></span>s ta<span class=\"_ _3\"></span>ken (14.9 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-out i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d a min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake w<span class=\"_ _3\"></span>as so<span class=\"_ _3\"></span>ld, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in i<span class=\"_ _3\"></span>n 2022, b<span class=\"_ _3\"></span>oth ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in t<span class=\"_ _3\"></span>he li<span class=\"_ _3\"></span>ne \u2018oth<span class=\"_ _3\"></span>er in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d 0.7 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro ga<span class=\"_ _3\"></span>in reali<span class=\"_ _3\"></span>zed sin<span class=\"_ _3\"></span>ce the m<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ent of a<span class=\"_ _3\"></span>cqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>, over t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iod<span class=\"_ _3\"></span>s unti<span class=\"_ _3\"></span>l divestment<span class=\"_ _0\"></span> reflect<span class=\"_ _0\"></span>ed in other <span class=\"_ _0\"></span>comprehensiv<span class=\"_ _0\"></span>e income r<span class=\"_ _0\"></span>eser<span class=\"_ _3\"></span>ve. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease in i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from 2020 to 2021 is re<span class=\"_ _3\"></span>lated to a sol<span class=\"_ _3\"></span>d min<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>ake, b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>low reg<span class=\"_ _3\"></span>ula<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>d level<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>le resu<span class=\"_ _3\"></span>lted in 55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro ca<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>in in 202<span class=\"_ _3\"></span>1, ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted in t<span class=\"_ _3\"></span>he l<span class=\"_ _3\"></span>ine \u2018othe<span class=\"_ _3\"></span>r inves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>viti<span class=\"_ _3\"></span>es\u2019 in th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>sh fl<span class=\"_ _3\"></span>ow st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent an<span class=\"_ _3\"></span>d 25<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro gain rea<span class=\"_ _3\"></span>lized si<span class=\"_ _3\"></span>nce th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of acq<span class=\"_ _3\"></span>uisi<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, whi<span class=\"_ _3\"></span>ch was ove<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>ds un<span class=\"_ _3\"></span>til d<span class=\"_ _3\"></span>ives<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve. T<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021 ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ted to 9.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro a<span class=\"_ _3\"></span>nd is ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted in o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sive i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e (2020: 18.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro).In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _266\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _14d\"> </span>2021<span class=\"_ _e3\"> </span>2020</span>Investments<span class=\"_ _31\"> </span>(a)<span class=\"_ _a7\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>5<span class=\"_ _c9\"> </span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _267\"> </span>8<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>8</span>Inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st i<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>ates<span class=\"_ _1b1\"> </span><span class=\"ls138 ws167\">(b)<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _20a\"> </span></span>20,87<span class=\"_ _3\"></span>2<span class=\"_ _c9\"> </span><span class=\"lse3 ws100\">19,71<span class=\"_ _3\"></span>3</span></span>Investmen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s and<span class=\"_ _0\"></span> interest in<span class=\"_ _0\"></span> associates<span class=\"_ _163\"> </span><span class=\"ls131 ws161\">64,811<span class=\"_ _22\"> </span>68,00<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"lse6 ws103\">10<span class=\"_ _3\"></span>6,9<span class=\"_ _3\"></span>42</span></span>Int<span class=\"_ _0\"></span>erest in<span class=\"_ _0\"></span> associat<span class=\"_ _0\"></span>es repres<span class=\"_ _0\"></span>ents entities i<span class=\"_ _0\"></span>n which Bar<span class=\"_ _0\"></span>co o<span class=\"_ _0\"></span>wns bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een 20% a<span class=\"_ _3\"></span>nd 50% o<span class=\"_ _3\"></span>f the s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s.(b<span class=\"_ _0\"></span>) Inter<span class=\"_ _0\"></span>est in ass<span class=\"_ _0\"></span>ociatesInteres<span class=\"_ _3\"></span>t in as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciates<span class=\"_ _3\"></span>, in 2022 - 2020, ref<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>he eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt in Ba<span class=\"_ _3\"></span>rcoCFG an<span class=\"_ _3\"></span>d CC<span class=\"_ _0\"></span>O B<span class=\"_ _3\"></span>arco Ai<span class=\"_ _3\"></span>rpo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t Venture<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup\u2019s sh<span class=\"_ _3\"></span>are of th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s and l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 an<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>es of t<span class=\"_ _3\"></span>he joi<span class=\"_ _3\"></span>nt vent<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>nd as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciates for t<span class=\"_ _3\"></span>he yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich are a<span class=\"_ _3\"></span>ccounte<span class=\"_ _3\"></span>d for usi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y me<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d: Summarized balance sheetBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _1a6\"> </span>12,18<span class=\"_ _3\"></span>5<span class=\"_ _30\"> </span>30,46<span class=\"_ _3\"></span>7<span class=\"_ _39\"> </span><span class=\"lsf0 ws10d\">42,652<span class=\"_ _30\"> </span></span>38,<span class=\"_ _3\"></span>822<span class=\"_ _90\"> </span><span class=\"ls89 wsa4\">21,<span class=\"_ _3\"></span>355<span class=\"_ _b3\"> </span><span class=\"lsed ws10a\">60,17<span class=\"_ _3\"></span>7</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _20c\"> </span>58,<span class=\"_ _3\"></span>842<span class=\"_ _252\"> </span>11<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>5<span class=\"_ _b3\"> </span>70,627<span class=\"_ _30\"> </span>45<span class=\"_ _3\"></span>,535<span class=\"_ _1d0\"> </span><span class=\"lse3 ws100\">9,3<span class=\"_ _3\"></span>03<span class=\"_ _d8\"> </span><span class=\"ls84 ws9f\">5<span class=\"_ _3\"></span>4,838</span></span>T<span class=\"_ _0\"></span>otal current assets<span class=\"_ _236\"> </span>71,027<span class=\"_ _d8\"> </span>42,<span class=\"_ _3\"></span>252<span class=\"_ _47\"> </span>11<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>279<span class=\"_ _44\"> </span>8<span class=\"_ _3\"></span>4,356<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\">30,6<span class=\"_ _3\"></span>59<span class=\"_ _3b\"> </span><span class=\"ls1b1 ws283\">115,<span class=\"_ _0\"></span>015</span></span>Non-current assets<span class=\"_ _f5\"> </span>7,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _1af\"> </span>9,<span class=\"_ _3\"></span>437<span class=\"_ _39\"> </span>16,4<span class=\"_ _3\"></span>87<span class=\"_ _1f4\"> </span>8,962<span class=\"_ _1d0\"> </span><span class=\"lsee ws10b\">8,2<span class=\"_ _3\"></span>57<span class=\"_ _90\"> </span><span class=\"ls3c ws48\">17<span class=\"_ _0\"></span>,<span class=\"_ _3\"></span>219</span></span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _203\"> </span>5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>070<span class=\"_ _90\"> </span>13<span class=\"_ _3\"></span>,27<span class=\"_ _3\"></span>9<span class=\"_ _d8\"> </span>63,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>49<span class=\"_ _39\"> </span>70,<span class=\"_ _3\"></span>225<span class=\"_ _38\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,610<span class=\"_ _b3\"> </span><span class=\"ls89 wsa4\">81,835</span></span>T<span class=\"_ _0\"></span>otal current liabiliti<span class=\"_ _3\"></span>es<span class=\"_ _26c\"> </span>50,07<span class=\"_ _3\"></span>0<span class=\"_ _39\"> </span>13,27<span class=\"_ _3\"></span>9<span class=\"_ _44\"> </span>63,<span class=\"_ _3\"></span>349<span class=\"_ _30\"> </span>70,<span class=\"_ _3\"></span>22<span class=\"_ _3\"></span>5<span class=\"_ _b3\"> </span><span class=\"lsf5 ws112\">1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,610<span class=\"_ _30\"> </span><span class=\"ls131 ws161\">81,<span class=\"_ _3\"></span>835</span></span>Other non-current li<span class=\"_ _0\"></span>abilities<span class=\"_ _187\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _1b7\"> </span>1<span class=\"_ _26d\"> </span>1</span>T<span class=\"_ _0\"></span>otal non-current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a7\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>-<span class=\"_ _26d\"> </span>1<span class=\"_ _a2\"> </span>1</span>Net assets<span class=\"_ _201\"> </span>28,0<span class=\"_ _3\"></span>07<span class=\"_ _d3\"> </span>3<span class=\"_ _3\"></span>8,409<span class=\"_ _30\"> </span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,416<span class=\"_ _d8\"> </span>23,093<span class=\"_ _30\"> </span><span class=\"ls199 wsd9\">2<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>5<span class=\"_ _30\"> </span><span class=\"lsfe ws11b\">50,<span class=\"_ _3\"></span>398</span></span>Reconciliat<span class=\"_ _0\"></span>ion to carrying amountsOp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g n<span class=\"_ _3\"></span>et as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _26e\"> </span>23<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _90\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _30\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>398<span class=\"_ _39\"> </span><span class=\"lsf7 ws114\">2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>324<span class=\"_ _b3\"> </span><span class=\"ls103 ws120\">25,<span class=\"_ _3\"></span>070<span class=\"_ _b3\"> </span></span></span></span>4<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>4</span>Prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _221\"> </span>5<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>41<span class=\"_ _1d0\"> </span>9,<span class=\"_ _3\"></span>53<span class=\"_ _3\"></span>4<span class=\"_ _38\"> </span>1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>176<span class=\"_ _1af\"> </span>6,180<span class=\"_ _26f\"> </span><span class=\"ls10a ws127\">137<span class=\"_ _1af\"> </span><span class=\"lsf4 ws111\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e (CTA)<span class=\"_ _270\"> </span>-7<span class=\"_ _3\"></span>28<span class=\"_ _da\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>570<span class=\"_ _c9\"> </span>842<span class=\"_ _1f4\"> </span><span class=\"lsed ws10a\">2,466<span class=\"_ _1f4\"> </span>2,098<span class=\"_ _1f4\"> </span><span class=\"lse9 ws106\">4,56<span class=\"_ _3\"></span>4</span></span>Dividends paid<span class=\"_ _17\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _25e\"> </span>-<span class=\"_ _25e\"> </span>-<span class=\"_ _21f\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _a6\"> </span></span>-<span class=\"_ _21f\"> </span><span class=\"ls19c ws271\">-7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>6</span></span>Closing net ass<span class=\"_ _3\"></span>ets<span class=\"_ _271\"> </span>28,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>07<span class=\"_ _1ed\"> </span><span class=\"lsed ws10a\">38,409<span class=\"_ _39\"> </span></span>6<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,416<span class=\"_ _272\"> </span>23<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093<span class=\"_ _90\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _30\"> </span><span class=\"lse0 wsfd\">5<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>398</span></span>Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n %<span class=\"_ _1a2\"> </span>49%<span class=\"_ _140\"> </span><span class=\"ls106 ws123\">3<span class=\"_ _3\"></span>5%<span class=\"_ _25e\"> </span></span>-<span class=\"_ _1f1\"> </span>49%<span class=\"_ _140\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _25e\"> </span></span>-Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are<span class=\"_ _273\"> </span>13,723<span class=\"_ _39\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _d1\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _21f\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316<span class=\"_ _274\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57<span class=\"_ _272\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _3\"></span>,872</span></span>Carrying amount<span class=\"_ _275\"> </span>13,723<span class=\"_ _39\"> </span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>43<span class=\"_ _d1\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>7<span class=\"_ _21f\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>316<span class=\"_ _274\"> </span><span class=\"lse3 ws100\">9,5<span class=\"_ _3\"></span>57<span class=\"_ _272\"> </span><span class=\"ls138 ws167\">20<span class=\"_ _3\"></span>,872</span></span>Summarized statement of comprehensive incomeBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lBa<span class=\"_ _3\"></span>rco CFGCCOTo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro31 DEC 2231 DEC 2231 DEC 2231 DEC 2131 DEC 2131 DEC 21Prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _276\"> </span>5,<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>41<span class=\"_ _150\"> </span>9,5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>4<span class=\"_ _49\"> </span>1<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14f\"> </span>6,180<span class=\"_ _1af\"> </span><span class=\"ls10a ws127\">137<span class=\"_ _44\"> </span><span class=\"lsf4 ws111\">6,<span class=\"_ _3\"></span>316</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>e (CTA)<span class=\"_ _277\"> </span>-7<span class=\"_ _3\"></span>28<span class=\"_ _44\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>570<span class=\"_ _278\"> </span>842<span class=\"_ _150\"> </span><span class=\"lsed ws10a\">2,466<span class=\"_ _144\"> </span>2,098<span class=\"_ _3b\"> </span><span class=\"lse9 ws106\">4,<span class=\"_ _3\"></span>564</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me<span class=\"_ _279\"> </span>4,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _49\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>105<span class=\"_ _1f6\"> </span>16,018<span class=\"_ _144\"> </span>8,64<span class=\"_ _3\"></span>6<span class=\"_ _150\"> </span><span class=\"ls3c ws48\">2,234<span class=\"_ _215\"> </span><span class=\"ls36 ws40\">10,880</span></span>Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n %<span class=\"_ _27a\"> </span>49%<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _5b\"> </span></span>-<span class=\"_ _21f\"> </span>49%<span class=\"_ _21f\"> </span><span class=\"ls106 ws123\">35%<span class=\"_ _263\"> </span></span>-Gro<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n prof<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>/(lo<span class=\"_ _3\"></span>ss) fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>od<span class=\"_ _1d2\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span><span class=\"lse9 ws106\">3,<span class=\"_ _3\"></span>337<span class=\"_ _1ed\"> </span><span class=\"lsde wsfb\">6<span class=\"_ _3\"></span>,101<span class=\"_ _150\"> </span>3<span class=\"_ _3\"></span>,028<span class=\"_ _20a\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _14f\"> </span></span></span></span>3<span class=\"_ _3\"></span>,076</span>Sh<span class=\"_ _3\"></span>are i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e res<span class=\"_ _3\"></span>ult of j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ve<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>iate<span class=\"_ _3\"></span>s<span class=\"_ _270\"> </span>-<span class=\"_ _d3\"> </span><span class=\"lse9 ws106\">3,33<span class=\"_ _3\"></span>7<span class=\"_ _14f\"> </span>3<span class=\"_ _3\"></span>,337<span class=\"_ _5b\"> </span></span>-<span class=\"_ _20a\"> </span><span class=\"ls168 ws169\">48<span class=\"_ _aa\"> </span>48</span>Included in other<span class=\"_ _0\"></span> op<span class=\"_ _3\"></span>erating income                                        3(<span class=\"_ _0\"></span>d)<span class=\"_ _1f0\"> </span>2,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>4<span class=\"_ _5b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _14f\"> </span></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>4<span class=\"_ _150\"> </span><span class=\"lsde wsfb\">3,<span class=\"_ _3\"></span>028<span class=\"_ _5b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _150\"> </span></span>3<span class=\"_ _3\"></span>,028</span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as no co<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>nt lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al com<span class=\"_ _3\"></span>mit<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s in rel<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n to it<span class=\"_ _3\"></span>s ass<span class=\"_ _3\"></span>ocia<span class=\"_ _3\"></span>tes as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, 2021 a<span class=\"_ _3\"></span>nd 2020<span class=\"_ _3\"></span>.For a<span class=\"_ _3\"></span>ll eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ccounted in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>rent<span class=\"_ _3\"></span>\u2019s or ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>\u2019s conse<span class=\"_ _3\"></span>nt is req<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>red to dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bute it<span class=\"_ _3\"></span>s p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>s; whi<span class=\"_ _3\"></span>ch is not d<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d at th<span class=\"_ _3\"></span>e repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g date. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y accou<span class=\"_ _3\"></span>nted inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s di<span class=\"_ _3\"></span>d not re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ize items in oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>.12. InventoryIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _75\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _252\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _90\"> </span>2020</span>Raw<span class=\"_ _0\"></span> materials and<span class=\"_ _0\"></span> consumables<span class=\"_ _27b\"> </span>1<span class=\"_ _3\"></span>20,610<span class=\"_ _144\"> </span><span class=\"lse0 wsfd\">9<span class=\"_ _3\"></span>0,1<span class=\"_ _3\"></span>39<span class=\"_ _49\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>8,053</span></span>Wor<span class=\"_ _3\"></span>k in p<span class=\"_ _3\"></span>rog<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>s<span class=\"_ _27c\"> </span>79,9<span class=\"_ _3\"></span>93<span class=\"_ _49\"> </span><span class=\"lse9 ws106\">6<span class=\"_ _3\"></span>4,38<span class=\"_ _3\"></span>4<span class=\"_ _d3\"> </span><span class=\"lsdd wsfa\">5<span class=\"_ _3\"></span>7<span class=\"_ _0\"></span>,97<span class=\"_ _3\"></span>2</span></span>Finished goo<span class=\"_ _3\"></span>ds<span class=\"_ _27d\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>23<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _d3\"> </span>92<span class=\"_ _3\"></span>,931<span class=\"_ _8f\"> </span><span class=\"lsfe ws11b\">122,4<span class=\"_ _3\"></span>08</span></span>Writ<span class=\"_ _0\"></span>e<span class=\"_ _3\"></span>-off on inven<span class=\"_ _0\"></span>tories<span class=\"_ _15a\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _47\"> </span><span class=\"ls42 ws6f\">-71,957<span class=\"_ _88\"> </span></span>-7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>43</span>Inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y<span class=\"_ _27e\"> </span>245<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>71<span class=\"_ _3\"></span>4<span class=\"_ _8f\"> </span><span class=\"ls131 ws161\">175,496<span class=\"_ _8d\"> </span><span class=\"ls139 ws168\">175,390</span></span>Inventory turns<span class=\"_ _21a\"> </span><span class=\"lsfb ws118\">2.1<span class=\"_ _140\"> </span>2.4<span class=\"_ _267\"> </span>2.<span class=\"_ _3\"></span>3</span>Incre<span class=\"_ _3\"></span>ase in i<span class=\"_ _3\"></span>nventor<span class=\"_ _1\"></span>y (<span class=\"_ _0\"></span>+ 4<span class=\"_ _3\"></span>0%) com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 2021 is li<span class=\"_ _3\"></span>nke<span class=\"_ _3\"></span>d to the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es vol<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>e (<span class=\"_ _0\"></span>+ 31<span class=\"_ _3\"></span>.6%) an<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>crease in co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent pri<span class=\"_ _3\"></span>ces (14%). Furt<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r due to th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ges<span class=\"_ _3\"></span>, s<span class=\"_ _3\"></span>afet<span class=\"_ _3\"></span>y buf<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>rs we<span class=\"_ _3\"></span>re stocke<span class=\"_ _3\"></span>d for a n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f sca<span class=\"_ _3\"></span>rce comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d add<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>ona<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent p<span class=\"_ _3\"></span>urcha<span class=\"_ _3\"></span>ses we<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>n of up<span class=\"_ _3\"></span>comi<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>ce increas<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds are hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er tha<span class=\"_ _3\"></span>n usu<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>inl<span class=\"_ _3\"></span>y in cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a an<span class=\"_ _3\"></span>d dia<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ost<span class=\"_ _3\"></span>ic im<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>, a resu<span class=\"_ _3\"></span>lt of ca<span class=\"_ _3\"></span>paci<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y ra<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>up a<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>ter comp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>nen<span class=\"_ _3\"></span>t sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d wil<span class=\"_ _3\"></span>l be redu<span class=\"_ _3\"></span>ced w<span class=\"_ _3\"></span>hen d<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>iver<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g out of t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh o<span class=\"_ _3\"></span>rde<span class=\"_ _3\"></span>rb<span class=\"_ _3\"></span>ook<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ult tur<span class=\"_ _3\"></span>ns rem<span class=\"_ _3\"></span>ain lo<span class=\"_ _3\"></span>w at 2.1<span class=\"_ _3\"></span>. In 2021<span class=\"_ _3\"></span>, as a re<span class=\"_ _3\"></span>sult of t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es vol<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>e in th<span class=\"_ _3\"></span>e four<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>h qua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ter (+<span class=\"_ _2\"></span>2<span class=\"_ _3\"></span>9% yoy), fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>as de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>antl<span class=\"_ _3\"></span>y comp<span class=\"_ _3\"></span>ared to 2020, w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>as of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y, cause<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ergi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>he se<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>d sem<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>ply s<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>rcit<span class=\"_ _3\"></span>y has resu<span class=\"_ _3\"></span>lted in a<span class=\"_ _3\"></span>n accele<span class=\"_ _3\"></span>rat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r raw m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al pr<span class=\"_ _3\"></span>ices (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 18). T<span class=\"_ _2\"></span>ot<span class=\"_ _3\"></span>al inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y t<span class=\"_ _3\"></span>urns re<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to las<span class=\"_ _3\"></span>t year. Inven<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>y leve<span class=\"_ _3\"></span>ls i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any va<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>ating segment within Barc<span class=\"_ _0\"></span>o. Operating segme<span class=\"_ _3\"></span>nts selling more hard<span class=\"_ _3\"></span>ware p<span class=\"_ _3\"></span>rod<span class=\"_ _3\"></span>uct<span class=\"_ _3\"></span>s com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to sof<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>re or p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct s<span class=\"_ _3\"></span>ales generally ha<span class=\"_ _0\"></span>ve higher in<span class=\"_ _0\"></span>ventory lev<span class=\"_ _0\"></span>el<span class=\"_ _3\"></span>s.Th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo di<span class=\"_ _3\"></span>vis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t were im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>cted t<span class=\"_ _3\"></span>he m<span class=\"_ _3\"></span>ost by t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>ly cons<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>int<span class=\"_ _3\"></span>s, En<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd H<span class=\"_ _3\"></span>ealt<span class=\"_ _3\"></span>hc<span class=\"_ _3\"></span>are sh<span class=\"_ _3\"></span>ow the h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>t increa<span class=\"_ _3\"></span>se in r<span class=\"_ _3\"></span>aw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. For Enter<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>, fin<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed g<span class=\"_ _3\"></span>oo<span class=\"_ _3\"></span>ds increa<span class=\"_ _3\"></span>sed m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>nly d<span class=\"_ _3\"></span>ue to recover<span class=\"_ _3\"></span>y o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>arket<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>rice in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>2%<span class=\"_ _3\"></span>), but a<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>o par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ly du<span class=\"_ _3\"></span>e to lag<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng de<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>rom Chi<span class=\"_ _3\"></span>na cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs as a re<span class=\"_ _3\"></span>sult o<span class=\"_ _3\"></span>f covid lo<span class=\"_ _3\"></span>ckdow<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>.Incre<span class=\"_ _3\"></span>ase in i<span class=\"_ _3\"></span>nventor<span class=\"_ _1\"></span>y in Enter<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>se is li<span class=\"_ _3\"></span>nked to hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s, turns r<span class=\"_ _0\"></span>emained stable.In 2021<span class=\"_ _3\"></span>, ra<span class=\"_ _3\"></span>w mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s inv<span class=\"_ _3\"></span>entor<span class=\"_ _1\"></span>y increa<span class=\"_ _3\"></span>sed i<span class=\"_ _3\"></span>n all t<span class=\"_ _3\"></span>hre<span class=\"_ _3\"></span>e div<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>ns as a resu<span class=\"_ _3\"></span>lt of acce<span class=\"_ _3\"></span>ler<span class=\"_ _3\"></span>ated p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es in v<span class=\"_ _3\"></span>iew of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>inm<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>nd En<span class=\"_ _3\"></span>terpr<span class=\"_ _3\"></span>ise t<span class=\"_ _3\"></span>he in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n raw mater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ventor<span class=\"_ _1\"></span>y was of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>set by a h<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>her d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ish<span class=\"_ _3\"></span>ed goods inv<span class=\"_ _0\"></span>entory<span class=\"_ _0\"></span>, thanks t<span class=\"_ _0\"></span>o higher fourth quart<span class=\"_ _0\"></span>er sales than i<span class=\"_ _0\"></span>n 2020. In He<span class=\"_ _3\"></span>alth<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>re raw m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>l inve<span class=\"_ _3\"></span>ntor<span class=\"_ _3\"></span>y h<span class=\"_ _3\"></span>as in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s, n<span class=\"_ _3\"></span>ex<span class=\"_ _3\"></span>t to the im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nt sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>age<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any h<span class=\"_ _3\"></span>as pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>d raw m<span class=\"_ _3\"></span>ater<span class=\"_ _3\"></span>ial<span class=\"_ _3\"></span>s upf<span class=\"_ _3\"></span>ront un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e form of a l<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>t-ti<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>uy ord<span class=\"_ _3\"></span>er fo<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ne<span class=\"_ _3\"></span>nts fo<span class=\"_ _3\"></span>r wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>r deci<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d to stop th<span class=\"_ _3\"></span>e pro<span class=\"_ _3\"></span>du<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. We refer to chapte<span class=\"_ _3\"></span>r \u2018Criti<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>l accoun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g ju<span class=\"_ _3\"></span>dge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d key sou<span class=\"_ _3\"></span>rces of es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on un<span class=\"_ _3\"></span>cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y\u2019 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re expl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on on the i<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f the m<span class=\"_ _3\"></span>acro<span class=\"_ _3\"></span>econ<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ic en<span class=\"_ _3\"></span>viro<span class=\"_ _3\"></span>nme<span class=\"_ _3\"></span>ntInven<span class=\"_ _3\"></span>tori<span class=\"_ _3\"></span>es are s<span class=\"_ _3\"></span>tated a<span class=\"_ _3\"></span>t the l<span class=\"_ _3\"></span>ower of cos<span class=\"_ _3\"></span>t or n<span class=\"_ _3\"></span>et real<span class=\"_ _3\"></span>izab<span class=\"_ _3\"></span>le val<span class=\"_ _3\"></span>ue. T<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>cula<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>owan<span class=\"_ _3\"></span>ce for sl<span class=\"_ _3\"></span>ow-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>ven<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tor<span class=\"_ _3\"></span>y is b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on con<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>tently a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f r<span class=\"_ _3\"></span>ule<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hich depend on both<span class=\"_ _0\"></span> historical and<span class=\"_ _0\"></span> future demand.In 2022 w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>s recog<span class=\"_ _3\"></span>nized as e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>nse re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le at 0.7<span class=\"_ _3\"></span>% of sa<span class=\"_ _3\"></span>les co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to 2021<span class=\"_ _3\"></span>.In 2020, wr<span class=\"_ _3\"></span>ite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs we<span class=\"_ _3\"></span>re imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 p<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>mic an<span class=\"_ _3\"></span>d resu<span class=\"_ _3\"></span>lted in hi<span class=\"_ _3\"></span>gh<span class=\"_ _3\"></span>er w<span class=\"_ _3\"></span>rite<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>of<span class=\"_ _3\"></span>fs re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized as ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse (1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 1.<span class=\"_ _3\"></span>5% of sa<span class=\"_ _3\"></span>les). 13. Amounts receivable and other non-current assetsIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - g<span class=\"_ _3\"></span>ross<span class=\"_ _1ae\"> </span>1<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _230\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _0\"></span>60,930<span class=\"_ _95\"> </span><span class=\"lsfe ws11b\">15<span class=\"_ _3\"></span>0,452</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bto<span class=\"_ _3\"></span>rs - b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt r<span class=\"_ _3\"></span>ese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve <span class=\"_ _c3\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>-2,85<span class=\"_ _3\"></span>0<span class=\"_ _25e\"> </span><span class=\"lsdd wsfa\">-3<span class=\"_ _3\"></span>,95<span class=\"_ _3\"></span>4<span class=\"_ _dd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _1\"></span>4,<span class=\"_ _3\"></span>314</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btor<span class=\"_ _3\"></span>s - ne<span class=\"_ _3\"></span>t <span class=\"_ _44\"> </span><span class=\"fs7b ls10e ws12b\">(b)</span>194,643<span class=\"_ _95\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>97<span class=\"_ _3\"></span>7<span class=\"_ _1eb\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>V<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>. Rec<span class=\"_ _0\"></span>eivable<span class=\"_ _f7\"> </span>5<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>1<span class=\"_ _280\"> </span><span class=\"ls103 ws120\">6,<span class=\"_ _3\"></span>418<span class=\"_ _cd\"> </span><span class=\"ls89 wsa4\">5,<span class=\"_ _3\"></span>358</span></span>T<span class=\"_ _0\"></span>axes<span class=\"_ _0\"></span> receivable<span class=\"_ _ed\"> </span>3,491<span class=\"_ _d5\"> </span><span class=\"lsfb ws118\">6,0<span class=\"_ _3\"></span>83<span class=\"_ _223\"> </span><span class=\"lsef ws10c\">5<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4</span></span>Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _1ba\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _1a3\"> </span>4<span class=\"_ _281\"> </span><span class=\"lsf7 ws114\">24</span></span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>y rate s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p (n<span class=\"_ _3\"></span>ote 20)<span class=\"_ _1ac\"> </span>2,537<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,055<span class=\"_ _cd\"> </span><span class=\"lsfe ws11b\">5,<span class=\"_ _3\"></span>345</span></span>Other<span class=\"_ _282\"> </span>2,<span class=\"_ _3\"></span>569<span class=\"_ _cd\"> </span><span class=\"lsfb ws118\">2,650<span class=\"_ _222\"> </span><span class=\"lsde wsfb\">1,<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>9</span></span>Other amounts r<span class=\"_ _0\"></span>eceivable<span class=\"_ _283\"> </span>14,509<span class=\"_ _1b7\"> </span><span class=\"lse0 wsfd\">16<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"ls199 wsd9\">1<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>9</span></span>Other non-curre<span class=\"_ _3\"></span>nt assets <span class=\"_ _62\"> </span><span class=\"fs7b lse0 wsfd\">(c)</span>5,819<span class=\"_ _dd\"> </span><span class=\"lsfb ws118\">6<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>49<span class=\"_ _d5\"> </span></span>5,870Nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f day<span class=\"_ _3\"></span>s sa<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DS<span class=\"_ _3\"></span>O)<span class=\"_ _92\"> </span>54<span class=\"_ _1b1\"> </span><span class=\"ls10b ws128\">56<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">67</span></span>Per 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of da<span class=\"_ _3\"></span>ys sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>d to 54 d<span class=\"_ _3\"></span>ays (56 d<span class=\"_ _3\"></span>ays in 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 67 in 2020) a<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>re back a<span class=\"_ _3\"></span>t pre<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>covi<span class=\"_ _3\"></span>d leve<span class=\"_ _3\"></span>ls<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of d<span class=\"_ _3\"></span>ays sa<span class=\"_ _3\"></span>les o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in 2020 wa<span class=\"_ _3\"></span>s the resul<span class=\"_ _0\"></span>t of higher<span class=\"_ _0\"></span> overdues, mainl<span class=\"_ _0\"></span>y from c<span class=\"_ _0\"></span>inema cust<span class=\"_ _0\"></span>omers<span class=\"_ _3\"></span>, ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y the cov<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>-19 gl<span class=\"_ _3\"></span>oba<span class=\"_ _3\"></span>l im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t on t<span class=\"_ _3\"></span>he cin<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>a ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s. For th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r en<span class=\"_ _3\"></span>ded D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 31<span class=\"_ _3\"></span>, 2022, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny set up a lim<span class=\"_ _3\"></span>ited ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>a provis<span class=\"_ _3\"></span>ion fo<span class=\"_ _3\"></span>r curre<span class=\"_ _3\"></span>nt exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it los<span class=\"_ _3\"></span>ses (202<span class=\"_ _3\"></span>2: -<span class=\"_ _3\"></span>0.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro; 2021: + 0.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>) refle<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g a lowe<span class=\"_ _3\"></span>r credit r<span class=\"_ _3\"></span>isk of i<span class=\"_ _3\"></span>ts cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s relate<span class=\"_ _3\"></span>d accoun<span class=\"_ _3\"></span>ts re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le comp<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>d to 2020. Th<span class=\"_ _3\"></span>e ext<span class=\"_ _3\"></span>ra p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>on re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d in 2020 (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) reflec<span class=\"_ _3\"></span>ted a red<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t qua<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y of s<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cifi<span class=\"_ _3\"></span>c cine<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>lated a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble as a re<span class=\"_ _3\"></span>sult of th<span class=\"_ _3\"></span>e covid<span class=\"_ _3\"></span>-19 g<span class=\"_ _3\"></span>lob<span class=\"_ _3\"></span>al pa<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ic. Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve in p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on to th<span class=\"_ _3\"></span>e gros<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>ount o<span class=\"_ _3\"></span>f tra<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>ebto<span class=\"_ _3\"></span>rs de<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>ed to 1<span class=\"_ _3\"></span>.5% (2020: 2.<span class=\"_ _3\"></span>5%, 2020: 2.9%).(a<span class=\"_ _0\"></span>) Movemen<span class=\"_ _0\"></span>t in bad<span class=\"_ _0\"></span> debt reserve<span class=\"_ _0\"></span>:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _75\"> </span>-3<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-4,<span class=\"_ _3\"></span>314<span class=\"_ _c9\"> </span><span class=\"ls107 ws124\">-2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74</span></span>Additional<span class=\"_ _0\"></span> provision<span class=\"_ _0\"></span>s<span class=\"_ _240\"> </span>-1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>91<span class=\"_ _265\"> </span><span class=\"ls102 ws11f\">-797<span class=\"_ _e3\"> </span><span class=\"ls103 ws120\">-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>41</span></span>Am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s us<span class=\"_ _3\"></span>ed<span class=\"_ _21d\"> </span>1,23<span class=\"_ _3\"></span>4<span class=\"_ _265\"> </span><span class=\"ls137 ws166\">444<span class=\"_ _1b7\"> </span><span class=\"lsde wsfb\">10<span class=\"_ _3\"></span>0</span></span>Amounts unused<span class=\"_ _3f\"> </span>1<span class=\"_ _3\"></span>,156<span class=\"_ _1b7\"> </span><span class=\"ls84 ws9f\">833<span class=\"_ _26d\"> </span><span class=\"lsfe ws11b\">645</span></span>T<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on (l<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>ses) / g<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ns<span class=\"_ _285\"> </span>-93<span class=\"_ _286\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>20<span class=\"_ _25e\"> </span><span class=\"ls10b ws128\">156</span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _287\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>0<span class=\"_ _140\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _c9\"> </span><span class=\"lse0 wsfd\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>(b) At 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2<span class=\"_ _3\"></span>022 the a<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis o<span class=\"_ _3\"></span>f trad<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>btors i<span class=\"_ _3\"></span>s as fo<span class=\"_ _3\"></span>llows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _271\"> </span><span class=\"ls198 ws26e\">20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>2021<span class=\"_ _5b\"> </span>2020</span>Not due<span class=\"_ _27a\"> </span>171<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>431<span class=\"_ _2b\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>38,18<span class=\"_ _3\"></span>8<span class=\"_ _1d6\"> </span><span class=\"ls138 ws167\">11<span class=\"_ _3\"></span>1,<span class=\"_ _3\"></span>020</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue l<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>n 30 d<span class=\"_ _3\"></span>ays<span class=\"_ _26c\"> </span>1<span class=\"_ _3\"></span>2,699<span class=\"_ _c9\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>7<span class=\"_ _c9\"> </span>12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 3<span class=\"_ _3\"></span>0 an<span class=\"_ _3\"></span>d 9<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _254\"> </span>9,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>76<span class=\"_ _14d\"> </span><span class=\"ls138 ws167\">6<span class=\"_ _3\"></span>,620<span class=\"_ _1d5\"> </span><span class=\"lsf7 ws114\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en 9<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys a<span class=\"_ _3\"></span>nd 18<span class=\"_ _3\"></span>0 da<span class=\"_ _3\"></span>ys<span class=\"_ _288\"> </span>2,<span class=\"_ _3\"></span>869<span class=\"_ _95\"> </span><span class=\"lsef ws10c\">1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>6<span class=\"_ _140\"> </span><span class=\"lsed ws10a\">1<span class=\"_ _3\"></span>2,899</span></span>Ov<span class=\"_ _3\"></span>erd<span class=\"_ _3\"></span>ue m<span class=\"_ _3\"></span>ore t<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>n 18<span class=\"_ _3\"></span>0 day<span class=\"_ _3\"></span>s<span class=\"_ _1ae\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>318<span class=\"_ _1ff\"> </span><span class=\"ls191 ws255\">4,<span class=\"_ _0\"></span>000<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8,0<span class=\"_ _3\"></span>05</span></span>T<span class=\"_ _0\"></span>otal gross<span class=\"_ _3c\"> </span>1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>3<span class=\"_ _da\"> </span><span class=\"lsdd wsfa\">16<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,93<span class=\"_ _3\"></span>0<span class=\"_ _274\"> </span><span class=\"ls131 ws161\">1<span class=\"_ _3\"></span>50,452</span></span>Ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt re<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve<span class=\"_ _1bb\"> </span>-2,850<span class=\"_ _26f\"> </span><span class=\"lsdd wsfa\">-3,9<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _e3\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>314</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _20e\"> </span>194,643<span class=\"_ _da\"> </span><span class=\"lsde wsfb\">15<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>7<span class=\"_ _da\"> </span><span class=\"lse0 wsfd\">14<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>38</span></span>In 2022, tot<span class=\"_ _3\"></span>al ove<span class=\"_ _3\"></span>rdue t<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 26.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on euro (202<span class=\"_ _3\"></span>1: 22.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 39.4 milli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), result<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> in 7 day<span class=\"_ _3\"></span>s overd<span class=\"_ _3\"></span>ue DSO (202<span class=\"_ _3\"></span>1: 9 day<span class=\"_ _3\"></span>s, 2020: 19 d<span class=\"_ _3\"></span>ays), wh<span class=\"_ _3\"></span>ich is even b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>an p<span class=\"_ _3\"></span>re-<span class=\"_ _1\"></span>covid leve<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>s.The inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e in o<span class=\"_ _0\"></span>verdue<span class=\"_ _0\"></span> amounts and<span class=\"_ _0\"></span> long ou<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>standing<span class=\"_ _2\"></span> overd<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>n 2020 was m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly fro<span class=\"_ _3\"></span>m the Co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s cin<span class=\"_ _3\"></span>ema custo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y was a<span class=\"_ _3\"></span>ble to rea<span class=\"_ _3\"></span>ch ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent pl<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re hon<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e maj<span class=\"_ _3\"></span>or pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t of it<span class=\"_ _3\"></span>s cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs in 2021<span class=\"_ _3\"></span>, res<span class=\"_ _3\"></span>ulti<span class=\"_ _3\"></span>ng in a d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny\u2019s ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>es from 1<span class=\"_ _3\"></span>9 days i<span class=\"_ _3\"></span>n 2020 to 9 days in 202<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny has a cre<span class=\"_ _3\"></span>dit in<span class=\"_ _3\"></span>sur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce in pl<span class=\"_ _3\"></span>ace for sp<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>cifi<span class=\"_ _3\"></span>c hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ris<span class=\"_ _3\"></span>k cine<span class=\"_ _3\"></span>ma co<span class=\"_ _3\"></span>ntra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d for ci<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ma cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>rs w<span class=\"_ _3\"></span>ith lon<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt terms<span class=\"_ _3\"></span>. D<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng 202<span class=\"_ _3\"></span>1 and 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany d<span class=\"_ _3\"></span>id not n<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d to exercise it<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght<span class=\"_ _3\"></span>s un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e insu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce as th<span class=\"_ _3\"></span>e cus<span class=\"ls4 ws4\">-</span>tome<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, for wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce is in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pai<span class=\"_ _3\"></span>d tim<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>bt rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve i<span class=\"_ _3\"></span>n 2022 cover<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n dou<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>de re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les ove<span class=\"_ _3\"></span>rdu<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>re tha<span class=\"_ _3\"></span>n 180 da<span class=\"_ _3\"></span>ys (2021<span class=\"_ _3\"></span>: 99%<span class=\"_ _3\"></span>, 2020: 54%). Pre covid le<span class=\"_ _3\"></span>vel wa<span class=\"_ _3\"></span>s arou<span class=\"_ _3\"></span>nd 140%<span class=\"_ _3\"></span>. In 2020, th<span class=\"_ _3\"></span>e Com<span class=\"_ _3\"></span>pany h<span class=\"_ _3\"></span>as ta<span class=\"_ _3\"></span>ken into a<span class=\"_ _3\"></span>ccount th<span class=\"_ _3\"></span>e cred<span class=\"_ _3\"></span>it insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce, pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt pl<span class=\"_ _3\"></span>ans b<span class=\"_ _3\"></span>ei<span class=\"_ _3\"></span>ng h<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ore<span class=\"_ _3\"></span>d and re<span class=\"_ _3\"></span>venu<span class=\"_ _3\"></span>e reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n, w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the p<span class=\"_ _3\"></span>otent<span class=\"_ _3\"></span>ial cre<span class=\"_ _3\"></span>dit r<span class=\"_ _3\"></span>isk an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r recordi<span class=\"_ _3\"></span>ng a ba<span class=\"_ _3\"></span>d deb<span class=\"_ _3\"></span>t rese<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ve on e<span class=\"_ _3\"></span>xpe<span class=\"_ _3\"></span>cte<span class=\"_ _3\"></span>d credit l<span class=\"_ _3\"></span>osse<span class=\"_ _3\"></span>s, w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ins the b<span class=\"_ _3\"></span>ad d<span class=\"_ _3\"></span>ebt re<span class=\"_ _3\"></span>ser<span class=\"_ _1\"></span>ve in 2020 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to 54% of th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e rec<span class=\"_ _0\"></span>eivables ov<span class=\"_ _0\"></span>erdue more<span class=\"_ _0\"></span> than 180 da<span class=\"_ _0\"></span>ys.(c) Oth<span class=\"_ _3\"></span>er no<span class=\"_ _3\"></span>n-c<span class=\"_ _3\"></span>urre<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>e oth<span class=\"_ _3\"></span>er n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>rent as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clu<span class=\"_ _3\"></span>de ma<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ly cas<span class=\"_ _3\"></span>h gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ntees for an a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 2.7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro (2021<span class=\"_ _3\"></span>: 5.6 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and 1<span class=\"_ _3\"></span>.6 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro oth<span class=\"_ _3\"></span>er l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g term rece<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>ble<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>ted to a sub<span class=\"_ _3\"></span>leas<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>uil<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g in A<span class=\"_ _3\"></span>mer<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>a.14<span class=\"_ _0\"></span>. Net financial cash/debtIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Short ter<span class=\"_ _0\"></span>m investmen<span class=\"_ _0\"></span>ts<span class=\"ff4 fs3 ls4 ws4\"> <span class=\"_ _b0\"> </span></span><span class=\"lse6 ws103\">(a)</span>1,<span class=\"_ _3\"></span>651<span class=\"_ _cd\"> </span><span class=\"ls1af ws281\">2<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>3<span class=\"_ _280\"> </span><span class=\"ls131 ws161\">3,175</span></span>Dep<span class=\"_ _3\"></span>osits <span class=\"_ _1c1\"> </span><span class=\"fs7b lsfc ws119\">(a)</span>151,491<span class=\"_ _103\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>9<span class=\"_ _289\"> </span><span class=\"lsdd wsfa\">79,9<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>Ca<span class=\"_ _3\"></span>sh at b<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>k <span class=\"_ _289\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>15<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>42<span class=\"_ _9b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4,453<span class=\"_ _230\"> </span></span>155,<span class=\"_ _3\"></span>426Ca<span class=\"_ _3\"></span>sh in h<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>d<span class=\"_ _1f2\"> </span>82<span class=\"_ _281\"> </span><span class=\"ls3c ws48\">79<span class=\"_ _1b1\"> </span><span class=\"lse9 ws106\">65</span></span>Cash and cash<span class=\"_ _0\"></span> equivalents<span class=\"_ _28a\"> </span><span class=\"lsee ws10b\">305,<span class=\"_ _3\"></span>915<span class=\"_ _230\"> </span><span class=\"ls10e ws12b\">351<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>571<span class=\"_ _5b\"> </span></span>235<span class=\"_ _3\"></span>,402</span>Long-term<span class=\"_ _0\"></span> financial rec<span class=\"_ _0\"></span>eivablesLong-term<span class=\"_ _0\"></span> debts <span class=\"_ _1f1\"> </span><span class=\"fs7b lsf0 ws10d\">(c)</span>-32,<span class=\"_ _3\"></span>335<span class=\"_ _230\"> </span>-34,<span class=\"_ _3\"></span>366<span class=\"_ _230\"> </span><span class=\"ls36 ws40\">-35,854</span>Cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of l<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm d<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>ts <span class=\"_ _105\"> </span><span class=\"fs7b lsf0 ws10d\">(c<span class=\"_ _3\"></span>)</span>-<span class=\"_ _0\"></span>11,217<span class=\"_ _28b\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>18<span class=\"_ _289\"> </span><span class=\"lse3 ws100\">-9,<span class=\"_ _3\"></span>187</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s <span class=\"_ _20a\"> </span><span class=\"fs7b ls10e ws12b\">(d)</span>-<span class=\"_ _28c\"> </span>-<span class=\"_ _1be\"> </span><span class=\"ls109 ws126\"> -<span class=\"_ _3\"></span>86</span>Net fi<span class=\"_ _0\"></span>nancial cash /<span class=\"_ _0\"></span> (debt)<span class=\"_ _10a\"> </span>26<span class=\"_ _3\"></span>4,0<span class=\"_ _3\"></span>14<span class=\"_ _5b\"> </span><span class=\"lse7 ws104\">3<span class=\"_ _3\"></span>09,<span class=\"_ _3\"></span>750<span class=\"_ _95\"> </span><span class=\"ls131 ws161\">19<span class=\"_ _0\"></span>3<span class=\"_ _3\"></span>,450</span></span>At th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, Ba<span class=\"_ _3\"></span>rco\u2019s net ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on reach<span class=\"_ _3\"></span>es 26<span class=\"_ _3\"></span>4 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 45.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lower co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>red to las<span class=\"_ _3\"></span>t year (202<span class=\"_ _3\"></span>1: 309.8 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro, 2020: 193.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e lim<span class=\"_ _3\"></span>ited po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ve free c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (1<span class=\"_ _3\"></span>3 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro), a num<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y in<span class=\"_ _3\"></span>vest<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>crease of B<span class=\"_ _3\"></span>arco's sha<span class=\"_ _3\"></span>re in Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic fro<span class=\"_ _3\"></span>m 55% to 80% and t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red sh<span class=\"_ _3\"></span>are in Gn<span class=\"_ _3\"></span>osco AB (<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>42 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), divi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nds p<span class=\"_ _3\"></span>aid o<span class=\"_ _3\"></span>ut  (-2<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>nd us<span class=\"_ _3\"></span>e of own s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>s for s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns (8 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). We refer to the s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y st<span class=\"_ _3\"></span>atem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, note 16 an<span class=\"_ _3\"></span>d note 1<span class=\"_ _3\"></span>1 for mo<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Of th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash<span class=\"_ _3\"></span>, 30<span class=\"_ _3\"></span>6 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is cas<span class=\"_ _3\"></span>h on t<span class=\"_ _3\"></span>he bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. A<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial f<span class=\"_ _3\"></span>lex<span class=\"_ _3\"></span>ibi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y is p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>d with 82.5<span class=\"_ _0\"></span> million eur<span class=\"_ _0\"></span>o of<span class=\"_ _0\"></span> unused bilat<span class=\"_ _0\"></span>eral c<span class=\"_ _0\"></span>ommitted c<span class=\"_ _0\"></span>redit<span class=\"_ _0\"></span> facil<span class=\"ls4 ws4\">-</span>itie<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h a se<span class=\"_ _3\"></span>lec<span class=\"_ _3\"></span>ted grou<span class=\"_ _3\"></span>p of com<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>rcial ba<span class=\"_ _3\"></span>nk<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion to<span class=\"_ _0\"></span> significant liquidi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, Barc<span class=\"_ _0\"></span>o has a<span class=\"_ _0\"></span> well-balan<span class=\"_ _3\"></span>ced<span class=\"_ _0\"></span> debt pro<span class=\"_ _0\"></span>f<span class=\"_ _3\"></span>ile wit<span class=\"_ _3\"></span>h deb<span class=\"_ _3\"></span>t lim<span class=\"_ _3\"></span>ited to 43.5 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro of w<span class=\"_ _3\"></span>hich 1<span class=\"_ _3\"></span>1 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro near<span class=\"_ _0\"></span>-term maturi<span class=\"_ _0\"></span>ties.Th<span class=\"_ _3\"></span>e net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial c<span class=\"_ _3\"></span>ash at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of 202<span class=\"_ _3\"></span>1 am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts to 30<span class=\"_ _3\"></span>9.8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro, 116 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r comp<span class=\"_ _3\"></span>ared to e<span class=\"_ _3\"></span>nd 2020, a resu<span class=\"_ _3\"></span>lt of th<span class=\"_ _3\"></span>e pos<span class=\"_ _3\"></span>itive f<span class=\"_ _3\"></span>ree c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>low (<span class=\"_ _3\"></span>78 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), sold inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s (55 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro), di<span class=\"_ _3\"></span>vid<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ds pa<span class=\"_ _3\"></span>id o<span class=\"_ _3\"></span>ut (-21 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy ba<span class=\"_ _3\"></span>ck pro<span class=\"_ _3\"></span>gr<span class=\"_ _3\"></span>am ( -1<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and us<span class=\"_ _3\"></span>e of own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s for sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s (8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>eme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, n<span class=\"_ _3\"></span>ote 16 and n<span class=\"_ _3\"></span>ote 11 fo<span class=\"_ _3\"></span>r mo<span class=\"_ _3\"></span>re explanation.(a<span class=\"_ _0\"></span>) Short ter<span class=\"_ _0\"></span>m inves<span class=\"_ _0\"></span>tments and<span class=\"_ _0\"></span> deposits:Th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d de<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>its d<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>t car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y a ma<span class=\"_ _3\"></span>te<span class=\"ls4 ws4\">-</span>ria<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k of chan<span class=\"_ _3\"></span>ge i<span class=\"_ _3\"></span>n va<span class=\"_ _3\"></span>luat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.At closi<span class=\"_ _3\"></span>ng d<span class=\"_ _3\"></span>ate, all s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s include<span class=\"_ _0\"></span>:Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> Average<span class=\"_ _0\"></span> In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _28d\"> </span><span class=\"ls198 ws26e\">2022</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _ad\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>1</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _65\"> </span><span class=\"ls198 ws26e\">2020</span>inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ateDep<span class=\"_ _3\"></span>osits in USD<span class=\"_ _245\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>8<span class=\"_ _62\"> </span>4.<span class=\"_ _3\"></span>22%<span class=\"_ _255\"> </span>1<span class=\"_ _3\"></span>41<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24<span class=\"_ _63\"> </span>0.<span class=\"_ _3\"></span>09%<span class=\"_ _235\"> </span><span class=\"lse0 wsfd\">71<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>839<span class=\"_ _6a\"> </span>0.70%</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n EUR<span class=\"_ _203\"> </span>19,<span class=\"_ _0\"></span>000<span class=\"_ _65\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>25%<span class=\"_ _1ef\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1f6\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _1f6\"> </span>-</span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n HKD<span class=\"_ _24e\"> </span>9,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>79<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>%<span class=\"_ _68\"> </span>45,0<span class=\"_ _3\"></span>57<span class=\"_ _6a\"> </span><span class=\"lsf5 ws112\">0.27<span class=\"_ _3\"></span>%<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _1ef\"> </span>-De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n INR<span class=\"_ _159\"> </span>1,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>49<span class=\"_ _11\"> </span>5<span class=\"_ _3\"></span>.97<span class=\"_ _3\"></span>%<span class=\"_ _25c\"> </span>2,7<span class=\"_ _0\"></span>63<span class=\"_ _11\"> </span>4.<span class=\"_ _3\"></span>10%<span class=\"_ _81\"> </span><span class=\"ls89 wsa4\">3,175<span class=\"_ _11\"> </span><span class=\"lsf0 ws10d\">3<span class=\"_ _3\"></span>.61<span class=\"_ _3\"></span>%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n CNY<span class=\"_ _266\"> </span>-<span class=\"_ _1ef\"> </span>-<span class=\"_ _6a\"> </span>9,<span class=\"_ _3\"></span>36<span class=\"_ _3\"></span>8<span class=\"_ _25c\"> </span>2.1<span class=\"_ _3\"></span>1%<span class=\"_ _65\"> </span><span class=\"lsee ws10b\">6,<span class=\"_ _3\"></span>232<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.8<span class=\"_ _3\"></span>8%</span></span>De<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s<span class=\"_ _19a\"> </span><span class=\"lsed ws10a\">2,307<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _16b\"> </span><span class=\"lsfe ws11b\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>291<span class=\"_ _1f6\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">1,<span class=\"_ _3\"></span>839<span class=\"_ _1ef\"> </span></span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al s<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nts a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s<span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"></span>53,<span class=\"_ _3\"></span>142<span class=\"_ _18a\"> </span><span class=\"lse7 ws104\">19<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>80<span class=\"_ _3\"></span>2<span class=\"_ _a1\"> </span><span class=\"ls131 ws161\">83,086</span></span>Cas<span class=\"_ _3\"></span>h in Ho<span class=\"_ _3\"></span>ng Ko<span class=\"_ _3\"></span>ng wa<span class=\"_ _3\"></span>s use<span class=\"_ _3\"></span>d for th<span class=\"_ _3\"></span>e repa<span class=\"_ _3\"></span>ym<span class=\"_ _3\"></span>ent of t<span class=\"_ _3\"></span>he mi<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span> sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s in Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic (s<span class=\"_ _3\"></span>ee n<span class=\"_ _3\"></span>ote 17<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e purch<span class=\"_ _3\"></span>ase of oth<span class=\"_ _3\"></span>er inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>ow reg<span class=\"_ _3\"></span>ulato<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y th<span class=\"_ _3\"></span>resh<span class=\"_ _3\"></span>old l<span class=\"_ _3\"></span>evel<span class=\"_ _3\"></span>s, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>lai<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>s in H<span class=\"_ _3\"></span>KD in 2022 compar<span class=\"_ _0\"></span>ed t<span class=\"_ _0\"></span>o 20<span class=\"_ _0\"></span>21<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e la<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>r dep<span class=\"_ _3\"></span>osi<span class=\"_ _3\"></span>t amo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s in U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d HKD in 202<span class=\"_ _3\"></span>1 are h<span class=\"_ _3\"></span>eld in th<span class=\"_ _3\"></span>e accord<span class=\"_ _3\"></span>ing h<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>e cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>titi<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>r he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed, avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g FX i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>n the p<span class=\"_ _3\"></span>rofi<span class=\"_ _3\"></span>t &amp; loss<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d opt<span class=\"_ _3\"></span>imiz<span class=\"_ _3\"></span>ing y<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>ld (by avoi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ne<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ive y<span class=\"_ _3\"></span>iel<span class=\"_ _3\"></span>ds in EUR<span class=\"_ _3\"></span>).Sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t term i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s are conve<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tib<span class=\"_ _3\"></span>le to kn<span class=\"_ _3\"></span>own a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h bet<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>een t<span class=\"_ _3\"></span>hree a<span class=\"_ _3\"></span>nd t<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>elve m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs fro<span class=\"_ _3\"></span>m ince<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n. De<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t ter<span class=\"_ _3\"></span>m (be<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n zero and t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>ont<span class=\"_ _3\"></span>hs), highly liquid<span class=\"_ _0\"></span> investments, which<span class=\"_ _0\"></span> are r<span class=\"_ _0\"></span>eadily con<span class=\"_ _0\"></span>ver<span class=\"_ _3\"></span>tible t<span class=\"_ _0\"></span>o kno<span class=\"_ _3\"></span>wn am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of cas<span class=\"_ _3\"></span>h.(b) Ca<span class=\"_ _3\"></span>sh at ba<span class=\"_ _3\"></span>nk: Cas<span class=\"_ _3\"></span>h at ba<span class=\"_ _3\"></span>nk is im<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>dia<span class=\"_ _3\"></span>tely ava<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le. It is d<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>omi<span class=\"_ _3\"></span>nated i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing curr<span class=\"_ _0\"></span>encies:(c) Lon<span class=\"_ _3\"></span>g-term fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts: Th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le gi<span class=\"_ _3\"></span>ves an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>iew of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al deb<span class=\"_ _3\"></span>ts i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nt po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bts<span class=\"_ _3\"></span>, p<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>pe of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate:T<span class=\"_ _0\"></span>yp<span class=\"_ _3\"></span>e of in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st r<span class=\"_ _3\"></span>ate<span class=\"_ _28e\"> </span><span class=\"ls5a ws6d\">Maturi<span class=\"_ _3\"></span>ty<span class=\"_ _e9\"> </span></span>31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2<span class=\"_ _e6\"> </span>31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2021<span class=\"_ _e8\"> </span>31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>20Real esta<span class=\"_ _0\"></span>te financing   Vari<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le, s<span class=\"_ _3\"></span>w<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d in<span class=\"_ _3\"></span>to fi<span class=\"_ _3\"></span>xed (<span class=\"_ _3\"></span>EU)<span class=\"_ _263\"> </span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an 202<span class=\"_ _3\"></span>5<span class=\"_ _a5\"> </span><span class=\"lsde wsfb\">8,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _d7\"> </span><span class=\"lse3 ws100\">9,56<span class=\"_ _3\"></span>3<span class=\"_ _b0\"> </span></span>10<span class=\"_ _3\"></span>,83<span class=\"_ _3\"></span>8</span>   Variable (EU)<span class=\"_ _257\"> </span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an 202<span class=\"_ _3\"></span>5<span class=\"_ _d6\"> </span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>3<span class=\"_ _1dc\"> </span><span class=\"lse7 ws104\">8,43<span class=\"_ _3\"></span>8<span class=\"_ _d\"> </span><span class=\"lsf4 ws111\">9,163</span></span>Lea<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g (I<span class=\"_ _3\"></span>FRS 16)<span class=\"_ _28f\"> </span><span class=\"lsfe ws11b\">27<span class=\"_ _0\"></span>,458<span class=\"_ _e1\"> </span>26,482<span class=\"_ _b0\"> </span><span class=\"lsf7 ws114\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>92<span class=\"_ _3\"></span>9</span></span>Other<span class=\"_ _290\"> </span>94<span class=\"_ _1f6\"> </span><span class=\"lsde wsfb\">103<span class=\"_ _49\"> </span><span class=\"ls108 ws125\">113</span></span>T<span class=\"_ _0\"></span>otal l<span class=\"_ _0\"></span>ong-t<span class=\"_ _0\"></span>erm financial<span class=\"_ _0\"></span> debts <span class=\"_ _287\"> </span>43,552<span class=\"_ _7e\"> </span><span class=\"ls3c ws48\">4<span class=\"_ _3\"></span>4,585<span class=\"_ _de\"> </span><span class=\"ls131 ws161\">45,042</span></span>2022<span class=\"_ _8b\"> </span>2021<span class=\"_ _4f\"> </span>20<span class=\"_ _3\"></span>20EUR<span class=\"_ _284\"> </span>41<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>%<span class=\"_ _148\"> </span><span class=\"ls106 ws123\">5<span class=\"_ _3\"></span>4.4%<span class=\"_ _98\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>4.7%</span></span>HKD<span class=\"_ _223\"> </span>7.<span class=\"_ _3\"></span>1<span class=\"_ _4\"> </span>%<span class=\"_ _147\"> </span><span class=\"lse7 ws104\">3.9<span class=\"_ _3\"></span>%<span class=\"_ _53\"> </span><span class=\"ls139 ws168\">28.8%</span></span>CNY<span class=\"_ _265\"> </span>15.<span class=\"_ _3\"></span>8%<span class=\"_ _89\"> </span><span class=\"ls106 ws123\">8<span class=\"_ _3\"></span>.5%<span class=\"_ _51\"> </span><span class=\"lsee ws10b\">15.<span class=\"_ _3\"></span>3%</span></span>USD<span class=\"_ _265\"> </span>2<span class=\"_ _3\"></span>1.2%<span class=\"_ _4f\"> </span><span class=\"lsfc ws119\">19.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">8<span class=\"_ _3\"></span>.6%</span></span>Others<span class=\"_ _262\"> </span><span class=\"lsdc wsf9\">14.<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>%<span class=\"_ _86\"> </span>14.<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>%<span class=\"_ _51\"> </span><span class=\"ls106 ws123\">1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>5%</span></span>Barco NV s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ed a n<span class=\"_ _3\"></span>umb<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>f bil<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted cred<span class=\"_ _3\"></span>it fa<span class=\"_ _3\"></span>cilit<span class=\"_ _3\"></span>ies tot<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ing 28 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro, for th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncin<span class=\"_ _3\"></span>g of Ba<span class=\"_ _3\"></span>rco\u2019s headquarters campus<span class=\"_ _0\"></span> project. Drawings<span class=\"_ _0\"></span> have a<span class=\"_ _0\"></span> long<span class=\"_ _3\"></span>-term<span class=\"_ _0\"></span> teno<span class=\"_ _3\"></span>r of 15 ye<span class=\"_ _3\"></span>ars fo<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he av<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d (as of th<span class=\"_ _3\"></span>e end o<span class=\"_ _3\"></span>f 2015). An am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt of 16 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro is ou<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>r 31.<span class=\"_ _3\"></span>12.<span class=\"_ _3\"></span>202<span class=\"_ _3\"></span>2. Th<span class=\"_ _3\"></span>ese co<span class=\"_ _3\"></span>mmi<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s car<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y e<span class=\"_ _3\"></span>ithe<span class=\"_ _3\"></span>r a var<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le in<span class=\"_ _3\"></span>terest r<span class=\"_ _3\"></span>ate or ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>d via d<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iva<span class=\"_ _3\"></span>tive<span class=\"_ _3\"></span>s into fixed ra<span class=\"_ _0\"></span>te c<span class=\"_ _0\"></span>haracter<span class=\"_ _0\"></span>.Barco is m<span class=\"_ _3\"></span>eeti<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>ll req<span class=\"_ _3\"></span>uirem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>an coven<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>s on its availabl<span class=\"_ _0\"></span>e credi<span class=\"_ _0\"></span>t facilities.Th<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le sum<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span>rizes th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he cur<span class=\"_ _3\"></span>rent p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l deb<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, per curr<span class=\"_ _0\"></span>ency:2022<span class=\"_ _8b\"> </span>2021<span class=\"_ _4f\"> </span>20<span class=\"_ _3\"></span>20EUR<span class=\"_ _1d1\"> </span><span class=\"lsde wsfb\">28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>13<span class=\"_ _df\"> </span><span class=\"ls103 ws120\">2<span class=\"_ _3\"></span>8,<span class=\"_ _3\"></span>078<span class=\"_ _37\"> </span></span>31<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8</span>USD<span class=\"_ _a2\"> </span>3,829<span class=\"_ _98\"> </span><span class=\"lse9 ws106\">4,<span class=\"_ _3\"></span>584<span class=\"_ _148\"> </span><span class=\"lsfb ws118\">4,0<span class=\"_ _3\"></span>98</span></span>INR<span class=\"_ _d5\"> </span>5,15<span class=\"_ _3\"></span>4<span class=\"_ _98\"> </span><span class=\"lsfe ws11b\">3,4<span class=\"_ _3\"></span>46<span class=\"_ _86\"> </span><span class=\"lsf4 ws111\">4,<span class=\"_ _3\"></span>162</span></span>Other<span class=\"_ _5b\"> </span>6,<span class=\"_ _3\"></span>356<span class=\"_ _51\"> </span><span class=\"lse7 ws104\">8,<span class=\"_ _3\"></span>47<span class=\"_ _3\"></span>7<span class=\"_ _4f\"> </span>5<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _1ff\"> </span>43<span class=\"_ _3\"></span>,552<span class=\"_ _14b\"> </span><span class=\"ls3c ws48\">4<span class=\"_ _3\"></span>4,585<span class=\"_ _23\"> </span><span class=\"ls131 ws161\">45,0<span class=\"_ _3\"></span>42</span></span>Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s du<span class=\"_ _3\"></span>e, an<span class=\"_ _3\"></span>d exclu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nt po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, are pa<span class=\"_ _3\"></span>yab<span class=\"_ _3\"></span>le as fo<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>s:Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 20<span class=\"_ _3\"></span>22<span class=\"_ _95\"> </span>Per 31 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>1<span class=\"_ _5b\"> </span>Per 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2020Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _1ff\"> </span><span class=\"lse3 ws100\">9,78<span class=\"_ _3\"></span>4<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2023<span class=\"_ _140\"> </span><span class=\"lsde wsfb\">10,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>28<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 202<span class=\"_ _3\"></span>2<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">9<span class=\"_ _0\"></span>,883</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">8<span class=\"_ _3\"></span>,081<span class=\"_ _e8\"> </span></span>Paya<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e in 2024<span class=\"_ _263\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>24<span class=\"_ _e9\"> </span></span>P<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le in 20<span class=\"_ _3\"></span>23<span class=\"_ _14d\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3<span class=\"_ _4\"> </span>4</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lse7 ws104\">5,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>59<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le in 2<span class=\"_ _3\"></span>025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,883<span class=\"_ _e8\"> </span></span>Payab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2024<span class=\"_ _14d\"> </span><span class=\"lsdc wsf9\">6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14</span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2027<span class=\"_ _14d\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>,535<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2026<span class=\"_ _1ff\"> </span><span class=\"lsfb ws118\">3,799<span class=\"_ _e8\"> </span></span>Pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le i<span class=\"_ _3\"></span>n 2025<span class=\"_ _e3\"> </span><span class=\"ls36 ws40\">5,083</span>La<span class=\"_ _3\"></span>ter<span class=\"_ _a0\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _3\"></span>7<span class=\"_ _e9\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _291\"> </span><span class=\"ls3c ws48\">9,679<span class=\"_ _11d\"> </span></span>L<span class=\"_ _3\"></span>ate<span class=\"_ _3\"></span>r<span class=\"_ _93\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>168</span>T<span class=\"_ _0\"></span>otal l<span class=\"_ _0\"></span>ong-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _be\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>4,625<span class=\"_ _e8\"> </span></span>T<span class=\"_ _0\"></span>otal<span class=\"_ _0\"></span> long-t<span class=\"_ _0\"></span>erm debts<span class=\"_ _cc\"> </span><span class=\"ls199 wsd9\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"> </span>2<span class=\"_ _e9\"> </span></span>T<span class=\"_ _0\"></span>otal long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debts<span class=\"_ _22a\"> </span><span class=\"lsf9 ws116\">41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>38<span class=\"_ _3\"></span>1</span>Th<span class=\"_ _3\"></span>e leas<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es p<span class=\"_ _3\"></span>er 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er a<span class=\"_ _3\"></span>re as fol<span class=\"_ _3\"></span>lows:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>On 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _240\"> </span>26,4<span class=\"_ _3\"></span>82<span class=\"_ _265\"> </span><span class=\"ls167 ws22d\">24,9<span class=\"_ _3\"></span>29<span class=\"_ _265\"> </span><span class=\"lsea ws107\">28,<span class=\"_ _3\"></span>259</span></span>Ne<span class=\"_ _3\"></span>w lea<span class=\"_ _3\"></span>ses o<span class=\"_ _3\"></span>r ex<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s of cur<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _180\"> </span>10<span class=\"_ _3\"></span>,99<span class=\"_ _3\"></span>1<span class=\"_ _284\"> </span><span class=\"lsde wsfb\">10,702<span class=\"_ _26d\"> </span><span class=\"ls191 ws255\">11,000</span></span>Pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s or te<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of lea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>s<span class=\"_ _258\"> </span>-10,0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>0<span class=\"_ _20f\"> </span><span class=\"lse7 ws104\">-10<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>59<span class=\"_ _286\"> </span><span class=\"ls108 ws125\">-13,13<span class=\"_ _0\"></span>2</span></span>T<span class=\"_ _0\"></span>ranslation (losses)<span class=\"_ _0\"></span>/gains<span class=\"_ _26c\"> </span>45<span class=\"_ _292\"> </span><span class=\"lsf5 ws112\">1,01<span class=\"_ _3\"></span>1<span class=\"_ _289\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>19<span class=\"_ _3\"></span>9</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al l<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>se li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>n 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _293\"> </span>27<span class=\"_ _0\"></span>,458<span class=\"_ _20f\"> </span><span class=\"ls10e ws12b\">26<span class=\"_ _3\"></span>,48<span class=\"_ _3\"></span>2<span class=\"_ _286\"> </span><span class=\"ls167 ws22d\">24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>92<span class=\"_ _3\"></span>9</span></span>Cur<span class=\"_ _3\"></span>rent<span class=\"_ _217\"> </span>9,2<span class=\"_ _3\"></span>17<span class=\"_ _223\"> </span><span class=\"lsfb ws118\">8,2<span class=\"_ _3\"></span>18<span class=\"_ _294\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>7</span></span>Non-<span class=\"_ _3\"></span>curr<span class=\"_ _0\"></span>ent<span class=\"_ _23f\"> </span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>1<span class=\"_ _26d\"> </span><span class=\"lsf0 ws10d\">18,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _289\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2</span></span>15. Other long-term liabilitiesIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _277\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _27f\"> </span>2021<span class=\"_ _cd\"> </span>2020</span>Other amounts<span class=\"_ _0\"></span> payable<span class=\"fs3 ls4 ws4\"> <span class=\"_ _cc\"> </span></span><span class=\"lsfc ws119\">(a)</span>2,3<span class=\"_ _0\"></span>12<span class=\"_ _185\"> </span><span class=\"ls89 wsa4\">350<span class=\"_ _1d4\"> </span>75</span>Accru<span class=\"_ _3\"></span>ed charg<span class=\"_ _3\"></span>es<span class=\"_ _275\"> </span>884<span class=\"_ _28c\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _295\"> </span><span class=\"lsfb ws118\">3,058</span></span>De<span class=\"_ _3\"></span>fer<span class=\"_ _3\"></span>red I<span class=\"_ _3\"></span>nco<span class=\"_ _3\"></span>me <span class=\"_ _aa\"> </span><span class=\"fs7b ls138 ws167\">(b)</span>41<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>328<span class=\"_ _26d\"> </span><span class=\"lsde wsfb\">48<span class=\"_ _3\"></span>,510<span class=\"_ _a2\"> </span><span class=\"lsf4 ws111\">4<span class=\"_ _3\"></span>0,<span class=\"_ _3\"></span>016</span></span>Prepa<span class=\"_ _0\"></span>yment cust<span class=\"_ _0\"></span>omers L<span class=\"_ _0\"></span>T<span class=\"_ _186\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _28c\"> </span>-<span class=\"_ _17a\"> </span><span class=\"lsed ws10a\">138</span></span>Other long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> liabilities<span class=\"_ _257\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>24<span class=\"_ _28b\"> </span><span class=\"ls139 ws168\">48,860<span class=\"_ _20f\"> </span><span class=\"lsfc ws119\">43,<span class=\"_ _3\"></span>286</span></span>(a) <span class=\"_ _3\"></span>B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ned a j<span class=\"_ _3\"></span>oi<span class=\"_ _3\"></span>nt ventu<span class=\"_ _3\"></span>re ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dish stcomp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco, AB on J<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqui<span class=\"_ _3\"></span>red 70% of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>res in G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco AB for 4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uros<span class=\"_ _3\"></span>. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er, a fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y was re<span class=\"_ _3\"></span>cogn<span class=\"_ _3\"></span>ized rel<span class=\"_ _3\"></span>ated to put<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-contro<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>rest<span class=\"_ _3\"></span>s for a<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t of 2 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ros.  <span class=\"_ _296\"> </span>Th<span class=\"_ _3\"></span>e term<span class=\"_ _3\"></span>s do n<span class=\"_ _3\"></span>ot gra<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup a<span class=\"_ _3\"></span>ny curre<span class=\"_ _3\"></span>nt own<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>ares to wh<span class=\"_ _3\"></span>ich t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>ion re<span class=\"_ _3\"></span>lates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he fai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>ut opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n is th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of the estimat<span class=\"_ _0\"></span>ed r<span class=\"_ _0\"></span>edemption amoun<span class=\"_ _0\"></span>t.  <span class=\"_ _296\"> </span>The li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>l subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>uen<span class=\"_ _3\"></span>tly b<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>ted in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ateme<span class=\"_ _3\"></span>nt for ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue, i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>udi<span class=\"_ _3\"></span>ng t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct of unw<span class=\"_ _3\"></span>ind<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g the d<span class=\"_ _3\"></span>isco<span class=\"_ _3\"></span>unt an<span class=\"_ _3\"></span>d oth<span class=\"_ _3\"></span>er ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ated rede<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t due to ch<span class=\"_ _3\"></span>ang<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>'s assumptio<span class=\"_ _3\"></span>ns.(b) <span class=\"_ _3\"></span>De<span class=\"_ _3\"></span>ferre<span class=\"_ _3\"></span>d inco<span class=\"_ _3\"></span>me w<span class=\"_ _3\"></span>hich w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e recog<span class=\"_ _3\"></span>nized in reve<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>e over a lon<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>r pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>an o<span class=\"_ _3\"></span>ne yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, is sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>t conce<span class=\"_ _3\"></span>rns m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly ma<span class=\"_ _3\"></span>inten<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s so<span class=\"_ _3\"></span>ld in the En<span class=\"_ _0\"></span>tertainment division<span class=\"_ _0\"></span> which c<span class=\"_ _0\"></span>over a l<span class=\"_ _0\"></span>ong<span class=\"_ _3\"></span>-term period. Th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e t<span class=\"_ _3\"></span>wo year<span class=\"_ _3\"></span>s st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard war<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e decre<span class=\"_ _3\"></span>ase in d<span class=\"_ _3\"></span>efer<span class=\"_ _3\"></span>red in<span class=\"_ _3\"></span>come i<span class=\"_ _3\"></span>n 2022 is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e lower i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>lat<span class=\"_ _3\"></span>ion r<span class=\"_ _3\"></span>ate dur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g covid a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e replac<span class=\"_ _0\"></span>ement wave<span class=\"_ _0\"></span> for Ci<span class=\"_ _0\"></span>nema star<span class=\"_ _3\"></span>ting up<span class=\"_ _0\"></span>, meaning the ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed w<span class=\"_ _3\"></span>arr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d has n<span class=\"_ _3\"></span>ot al<span class=\"_ _3\"></span>ways s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ted yet.16. Equity attributable to equity holders of the parentIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>Share<span class=\"_ _0\"></span> capital<span class=\"_ _1b8\"> </span>56,752<span class=\"_ _e2\"> </span><span class=\"ls3c ws48\">5<span class=\"_ _3\"></span>6,296<span class=\"_ _14d\"> </span><span class=\"ls36 ws40\">55,87<span class=\"_ _0\"></span>9</span></span>Share<span class=\"_ _0\"></span> premium<span class=\"_ _1bd\"> </span>1<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>9<span class=\"_ _262\"> </span><span class=\"lsf4 ws111\">161<span class=\"_ _3\"></span>,09<span class=\"_ _3\"></span>1<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>3</span></span>Share-based payments<span class=\"_ _23e\"> </span>20,21<span class=\"_ _3\"></span>5<span class=\"_ _1d5\"> </span><span class=\"lsfb ws118\">18,667<span class=\"_ _5b\"> </span><span class=\"lsdc wsf9\">14,<span class=\"_ _3\"></span>10<span class=\"_ _3\"></span>0</span></span>Acquir<span class=\"_ _0\"></span>ed own shar<span class=\"_ _0\"></span>es<span class=\"_ _23a\"> </span>-25<span class=\"_ _3\"></span>,443<span class=\"_ _26f\"> </span><span class=\"lse7 ws104\">-<span class=\"_ _3\"></span>31<span class=\"_ _3\"></span>,435<span class=\"_ _c9\"> </span><span class=\"lsdd wsfa\">-26<span class=\"_ _3\"></span>,96<span class=\"_ _3\"></span>2</span></span>Retained e<span class=\"_ _0\"></span>arnings<span class=\"_ _ed\"> </span>55<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>777<span class=\"_ _140\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1f1\"> </span><span class=\"lsdc wsf9\">5<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>093</span></span>Cumulativ<span class=\"_ _0\"></span>e translation<span class=\"_ _0\"></span> adjustment<span class=\"_ _19a\"> </span>-28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>350<span class=\"_ _c9\"> </span><span class=\"ls12f ws159\">-37<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>906<span class=\"_ _267\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>93</span></span>Derivatives<span class=\"_ _27c\"> </span>319<span class=\"_ _289\"> </span><span class=\"ls102 ws11f\">-71<span class=\"_ _1\"></span>3<span class=\"_ _20f\"> </span><span class=\"ls19a ws26f\">-<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>111</span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y ho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nt<span class=\"_ _262\"> </span><span class=\"lse7 ws104\">7<span class=\"_ _3\"></span>59,1<span class=\"_ _3\"></span>89<span class=\"_ _a7\"> </span><span class=\"lsdd wsfa\">6<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>,78<span class=\"_ _3\"></span>3<span class=\"_ _aa\"> </span></span>65<span class=\"_ _3\"></span>9,<span class=\"_ _3\"></span>30<span class=\"_ _3\"></span>9</span>1<span class=\"_ _3\"></span>. Sh<span class=\"_ _3\"></span>are c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l, s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re pre<span class=\"_ _3\"></span>mi<span class=\"_ _3\"></span>um an<span class=\"_ _3\"></span>d own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s had i<span class=\"_ _3\"></span>n 2022 th<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n to elec<span class=\"_ _3\"></span>t for a di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd in ca<span class=\"_ _3\"></span>sh or a d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion to rei<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e gross div<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>d over 202<span class=\"_ _3\"></span>1 has res<span class=\"_ _3\"></span>ulted i<span class=\"_ _3\"></span>n a sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>se of 14,17<span class=\"_ _3\"></span>3 (00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>atutor<span class=\"_ _1\"></span>y ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al of 456 (0<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>) euro.A<span class=\"_ _3\"></span>s a resul<span class=\"_ _3\"></span>t, th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany<span class=\"_ _3\"></span>\u2019s sh<span class=\"_ _3\"></span>are ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 56.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro o<span class=\"_ _3\"></span>n 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing of 92<span class=\"_ _3\"></span>,91<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>45 fu<span class=\"_ _3\"></span>lly paid shar<span class=\"_ _0\"></span>es.In th<span class=\"_ _3\"></span>e Ex<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ao<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y G<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al M<span class=\"_ _3\"></span>eeti<span class=\"_ _3\"></span>ng of 25 A<span class=\"_ _3\"></span>pr<span class=\"_ _3\"></span>il 2019, Ba<span class=\"_ _3\"></span>rco\u2019s sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ized a sha<span class=\"_ _3\"></span>re bu<span class=\"_ _3\"></span>yba<span class=\"_ _3\"></span>ck. A f<span class=\"_ _3\"></span>ir<span class=\"_ _3\"></span>st sh<span class=\"_ _3\"></span>are b<span class=\"_ _3\"></span>uy<span class=\"_ _3\"></span>back<span class=\"_ _3\"></span> pro<span class=\"_ _3\"></span>gra<span class=\"_ _3\"></span>m for a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od o<span class=\"_ _3\"></span>f 6 mo<span class=\"_ _3\"></span>nths<span class=\"_ _3\"></span>, st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing o<span class=\"_ _3\"></span>n 20 Se<span class=\"_ _3\"></span>ptem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>, 2021 wa<span class=\"_ _3\"></span>s ann<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nced o<span class=\"_ _3\"></span>n 16 Sep<span class=\"_ _3\"></span>temb<span class=\"_ _3\"></span>er, 2021.Barco a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red 60<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>00 ow<span class=\"_ _3\"></span>n sh<span class=\"_ _3\"></span>ares fo<span class=\"_ _3\"></span>r a total a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 1<span class=\"_ _3\"></span>1,18<span class=\"_ _3\"></span>6 (0<span class=\"_ _3\"></span>00) e<span class=\"_ _3\"></span>uro in 202<span class=\"_ _3\"></span>1. Fur<span class=\"_ _3\"></span>th<span class=\"_ _3\"></span>er<span class=\"_ _0\"></span>, B<span class=\"_ _3\"></span>arco sol<span class=\"_ _3\"></span>d in tota<span class=\"_ _3\"></span>l 57<span class=\"_ _0\"></span>4,760 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res in 202<span class=\"_ _3\"></span>2 upo<span class=\"_ _3\"></span>n the e<span class=\"_ _3\"></span>xercise of 5<span class=\"_ _3\"></span>7<span class=\"_ _0\"></span>4,760 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons w<span class=\"_ _3\"></span>ith a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>ing d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>se of th<span class=\"_ _3\"></span>e own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s of 5,992 (\u2018<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro an<span class=\"_ _3\"></span>d an in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>ium a<span class=\"_ _3\"></span>ccount o<span class=\"_ _3\"></span>f 1,6<span class=\"_ _3\"></span>55(\u2018<span class=\"_ _3\"></span>00<span class=\"_ _3\"></span>0) e<span class=\"_ _3\"></span>uro. Th<span class=\"_ _3\"></span>e nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>red by Ba<span class=\"_ _3\"></span>rco NV up to 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2 th<span class=\"_ _3\"></span>erefore d<span class=\"_ _3\"></span>ecrea<span class=\"_ _3\"></span>sed to 2,45<span class=\"_ _3\"></span>7<span class=\"_ _2\"></span>,922 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res (2021: 3<span class=\"_ _3\"></span>,032,682; 2020: 3,160,032 ow<span class=\"_ _3\"></span>n sha<span class=\"_ _3\"></span>res). The tot<span class=\"_ _3\"></span>al va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s amo<span class=\"_ _3\"></span>unt to 20.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 2022.A<span class=\"_ _3\"></span>s a resul<span class=\"_ _3\"></span>t of the s<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>re div<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd a<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>xercise<span class=\"_ _3\"></span>d stock-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s sha<span class=\"_ _3\"></span>re prem<span class=\"_ _3\"></span>ium a<span class=\"_ _3\"></span>ccount p<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span> am<span class=\"_ _3\"></span>ount<span class=\"_ _3\"></span>s to 17<span class=\"_ _3\"></span>7 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n euro.2. Share-based paymentsOn 8 D<span class=\"_ _3\"></span>ece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, 2 new o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Boa<span class=\"_ _3\"></span>rd of Di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>rs<span class=\"_ _3\"></span>, throu<span class=\"_ _3\"></span>gh w<span class=\"_ _3\"></span>hich m<span class=\"_ _3\"></span>axi<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m 575,0<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s could b<span class=\"_ _3\"></span>e gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d befo<span class=\"_ _3\"></span>re 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. Each s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n give<span class=\"_ _3\"></span>s ri<span class=\"_ _3\"></span>ght to th<span class=\"_ _3\"></span>e acqu<span class=\"_ _3\"></span>isiti<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne (1<span class=\"_ _3\"></span>) sha<span class=\"_ _3\"></span>re. In 2022<span class=\"_ _3\"></span>, 322,<span class=\"_ _3\"></span>833 s<span class=\"_ _3\"></span>tock op<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns ha<span class=\"_ _3\"></span>ve be<span class=\"_ _3\"></span>en gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d to and acc<span class=\"_ _0\"></span>epted<span class=\"_ _0\"></span> by employ<span class=\"_ _0\"></span>ees and management of<span class=\"_ _0\"></span> the group<span class=\"_ _0\"></span> bas<span class=\"_ _3\"></span>ed up<span class=\"_ _3\"></span>on t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e opt<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. On 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, n<span class=\"_ _3\"></span>o opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s rema<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d ava<span class=\"_ _3\"></span>ila<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r dis<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion u<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>er th<span class=\"_ _3\"></span>e 2022 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on sch<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>.Stock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>ansTh<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g sto<span class=\"_ _3\"></span>ck opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s on 31<span class=\"_ _0\"></span> De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 2022 a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unted to 2,4<span class=\"_ _3\"></span>01<span class=\"_ _3\"></span>,900. T<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny<span class=\"_ _3\"></span>\u2019s own sh<span class=\"_ _3\"></span>are<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l be us<span class=\"_ _3\"></span>ed u<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>n pl<span class=\"_ _3\"></span>an to fu<span class=\"_ _3\"></span>lfi<span class=\"_ _3\"></span>ll th<span class=\"_ _3\"></span>e comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>. Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g 2022, 574,7<span class=\"_ _0\"></span>6<span class=\"_ _3\"></span>0 stock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n exercise<span class=\"_ _3\"></span>d (in 202<span class=\"_ _3\"></span>1, 7<span class=\"_ _3\"></span>27<span class=\"_ _2\"></span>,<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>0 stock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons). Th<span class=\"_ _3\"></span>ese s<span class=\"_ _3\"></span>tock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>ons m<span class=\"_ _3\"></span>ay be exe<span class=\"_ _3\"></span>rcise<span class=\"_ _3\"></span>d the e<span class=\"_ _3\"></span>arl<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>t 3 yea<span class=\"_ _3\"></span>rs af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e all<span class=\"_ _3\"></span>oc<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n date (i.e<span class=\"_ _3\"></span>. the ve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ing p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d) over a p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od of ma<span class=\"_ _3\"></span>xim<span class=\"_ _3\"></span>um 10 year<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g a coup<span class=\"_ _3\"></span>le of f<span class=\"_ _3\"></span>ixed p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds over th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. Be<span class=\"_ _3\"></span>low is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g stock option plans<span class=\"_ _0\"></span>:Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice <span class=\"_ _26\"></span> Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Acce<span class=\"_ _3\"></span>pted <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>ed <span class=\"_ _26\"></span> Ca<span class=\"_ _3\"></span>nce<span class=\"_ _3\"></span>lle<span class=\"_ _3\"></span>d <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Expired <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce on <span class=\"_ _26\"></span> Allocatio<span class=\"_ _3\"></span>n date<span class=\"_ _1ef\"> </span><span class=\"lsa7 ws14d\">End te<span class=\"_ _3\"></span>rm</span>(in euro<span class=\"_ _0\"></span>)31 De<span class=\"_ _3\"></span>c 2021in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>2in 202<span class=\"_ _3\"></span>231 De<span class=\"_ _3\"></span>c 2022Stock<span class=\"_ _0\"></span> options10/31<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>2<span class=\"_ _289\"> </span>10/<span class=\"_ _3\"></span>30/<span class=\"_ _3\"></span>22<span class=\"_ _297\"> </span>7.<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>8<span class=\"_ _d7\"> </span>4,<span class=\"_ _3\"></span>200<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1fc\"> </span><span class=\"ls102 ws11f\">-70<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _d1\"> </span></span>0</span>10/2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>3<span class=\"_ _289\"> </span>10/20/2<span class=\"_ _3\"></span>3<span class=\"_ _188\"> </span>8<span class=\"_ _3\"></span>.43<span class=\"_ _be\"> </span>1<span class=\"_ _3\"></span>1,0<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-1,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>60<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _101\"> </span><span class=\"lse3 ws100\">9,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/2<span class=\"_ _0\"></span>4<span class=\"_ _298\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _1b0\"> </span>18<span class=\"_ _3\"></span>,891<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span><span class=\"lsde wsfb\">-2<span class=\"_ _3\"></span>,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _22a\"> </span><span class=\"lsf4 ws111\">16<span class=\"_ _3\"></span>,7<span class=\"_ _3\"></span>91</span></span>10/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>14<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/22<span class=\"_ _297\"> </span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _bc\"> </span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _78\"> </span><span class=\"lsed ws10a\">-12,600<span class=\"_ _1af\"> </span></span>-<span class=\"_ _67\"> </span><span class=\"ls106 ws123\">-12<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>4<span class=\"_ _d1\"> </span></span>0</span>110/<span class=\"_ _3\"></span>23/<span class=\"_ _3\"></span>1410/22/22<span class=\"_ _1d4\"> </span>7.<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _d2\"> </span>16,45<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _7e\"> </span><span class=\"ls106 ws123\">-10,<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _bc\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>300<span class=\"_ _38\"> </span></span>0</span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span>10/21/25<span class=\"_ _281\"> </span>8.16<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>3,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"ls84 ws9f\">-<span class=\"_ _3\"></span>4,550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _a5\"> </span><span class=\"lsfb ws118\">8,65<span class=\"_ _3\"></span>0</span></span>10/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>5<span class=\"_ _dd\"> </span><span class=\"lsee ws10b\">10/21/23<span class=\"_ _1b1\"> </span><span class=\"ls139 ws168\">8.16<span class=\"_ _d2\"> </span><span class=\"ls19c ws271\">3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _da\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls84 ws9f\">-4,<span class=\"_ _3\"></span>550<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1d0\"> </span>-<span class=\"_ _b0\"> </span></span></span></span>32,55<span class=\"_ _3\"></span>0</span>110/22<span class=\"_ _3\"></span>/1<span class=\"_ _3\"></span>510/21/23<span class=\"_ _297\"> </span>8.<span class=\"_ _3\"></span>26<span class=\"_ _e1\"> </span>20,6<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _d2\"> </span><span class=\"ls89 wsa4\">-5,<span class=\"_ _3\"></span>250<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"lsfe ws11b\">15,4<span class=\"_ _3\"></span>00</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/26<span class=\"_ _1be\"> </span>10.<span class=\"_ _3\"></span>40<span class=\"_ _81\"> </span>14<span class=\"_ _0\"></span>3,960<span class=\"_ _1d0\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"ls106 ws123\">-18,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _78\"> </span><span class=\"lsf4 ws111\">1<span class=\"_ _3\"></span>25<span class=\"_ _3\"></span>,160</span></span>10<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>6<span class=\"_ _dd\"> </span>10/23/24<span class=\"_ _1be\"> </span>10<span class=\"_ _3\"></span>.40<span class=\"_ _be\"> </span>42<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _be\"> </span><span class=\"lsfb ws118\">-<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,650<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls89 wsa4\">35,<span class=\"_ _3\"></span>560</span></span>110<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>24/<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>610/23/2<span class=\"_ _0\"></span>4<span class=\"_ _18b\"> </span>10<span class=\"_ _3\"></span>.61<span class=\"_ _be\"> </span>22,601<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _22a\"> </span></span>-2,10<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _b0\"> </span><span class=\"ls138 ws167\">20,<span class=\"_ _3\"></span>501</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/27<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _78\"> </span>214<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>75<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bb\"> </span><span class=\"lse3 ws100\">-<span class=\"_ _3\"></span>29,6<span class=\"_ _3\"></span>50<span class=\"_ _d2\"> </span><span class=\"lsf5 ws112\">-3,<span class=\"_ _3\"></span>500<span class=\"_ _1af\"> </span></span></span>-<span class=\"_ _67\"> </span><span class=\"ls89 wsa4\">181,425</span></span>10/20/1<span class=\"_ _3\"></span>7<span class=\"_ _dd\"> </span>10/<span class=\"_ _3\"></span>16/25<span class=\"_ _18b\"> </span>1<span class=\"_ _3\"></span>2.5<span class=\"_ _3\"></span>4<span class=\"_ _7e\"> </span>65,800<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls191 ws255\">-6,000<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _de\"> </span><span class=\"lse7 ws104\">59,8<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0</span></span>110/20/1<span class=\"_ _3\"></span>710/16/2<span class=\"_ _3\"></span>5<span class=\"_ _17a\"> </span>1<span class=\"_ _3\"></span>2.67<span class=\"_ _78\"> </span><span class=\"ls19c ws271\">1<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _11\"> </span><span class=\"ls106 ws123\">-110<span class=\"_ _3\"></span>,05<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _d2\"> </span></span>1<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>0<span class=\"_ _4\"> </span>0</span>10/23/<span class=\"_ _3\"></span>18<span class=\"_ _dd\"> </span>10/22<span class=\"_ _3\"></span>/28<span class=\"_ _1c7\"> </span>14.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>0<span class=\"_ _25c\"> </span>410<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _76\"> </span><span class=\"lsf5 ws112\">-360,<span class=\"_ _3\"></span>350<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _e1\"> </span><span class=\"ls42 ws6f\">50,550</span></span>10/11<span class=\"_ _3\"></span>/19<span class=\"_ _d5\"> </span>10/10/<span class=\"_ _3\"></span>29<span class=\"_ _185\"> </span>24.<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _ad\"> </span>323,<span class=\"_ _3\"></span>330<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _16b\"> </span><span class=\"lsdd wsfa\">-<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span></span>-<span class=\"_ _ad\"> </span><span class=\"lse7 ws104\">269,43<span class=\"_ _3\"></span>0</span></span>10/29/20<span class=\"_ _26d\"> </span>10/28/<span class=\"_ _3\"></span>30<span class=\"_ _185\"> </span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.76<span class=\"_ _11\"> </span>40<span class=\"_ _0\"></span>3,000<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _7e\"> </span><span class=\"lsfe ws11b\">-2<span class=\"_ _3\"></span>1,1<span class=\"_ _3\"></span>50<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"ls89 wsa4\">3<span class=\"_ _3\"></span>81,85<span class=\"_ _3\"></span>0</span></span>1<span class=\"_ _3\"></span>2/0<span class=\"_ _3\"></span>6/2<span class=\"_ _3\"></span>1<span class=\"_ _a6\"> </span>12<span class=\"_ _3\"></span>/06/<span class=\"_ _3\"></span>31<span class=\"_ _18b\"> </span>1<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>0<span class=\"_ _73\"> </span>882,40<span class=\"_ _3\"></span>0<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1af\"> </span>-<span class=\"_ _bb\"> </span><span class=\"lsde wsfb\">-28,7<span class=\"_ _3\"></span>00<span class=\"_ _1af\"> </span></span>-<span class=\"_ _25c\"> </span><span class=\"lse0 wsfd\">853<span class=\"_ _3\"></span>,70<span class=\"_ _3\"></span>0</span></span>12/08<span class=\"_ _0\"></span>/22<span class=\"_ _26d\"> </span>1<span class=\"_ _1\"></span>2<span class=\"_ _3\"></span>/<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7/<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>2<span class=\"_ _1ca\"> </span>2<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>.<span class=\"_ _3\"></span>74<span class=\"_ _274\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">2<span class=\"_ _3\"></span>89,9<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>6<span class=\"_ _1af\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _73\"> </span><span class=\"lsdd wsfa\">28<span class=\"_ _3\"></span>9,94<span class=\"_ _3\"></span>6</span></span>112/08<span class=\"_ _0\"></span>/221<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>/<span class=\"_ _3\"></span>07/<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _299\"> </span>22.<span class=\"_ _3\"></span>32<span class=\"_ _1af\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887<span class=\"_ _1d0\"> </span></span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _1af\"> </span>-<span class=\"_ _bc\"> </span><span class=\"ls36 ws40\">32,887</span></span> T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r of st<span class=\"_ _3\"></span>ock o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s2,78<span class=\"_ _0\"></span>3,141322,<span class=\"_ _3\"></span>833<span class=\"_ _76\"> </span>-5<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>76<span class=\"_ _3\"></span>0<span class=\"_ _6a\"> </span>-1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _4\"> </span>2<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _ad\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4<span class=\"_ _255\"> </span></span>2,4<span class=\"_ _3\"></span>01,9<span class=\"_ _3\"></span>00(1) De<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on o<span class=\"_ _3\"></span>f exe<span class=\"_ _3\"></span>rcis<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>ice a<span class=\"_ _3\"></span>s a res<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he U<span class=\"_ _3\"></span>S su<span class=\"_ _3\"></span>b pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e cost of t<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sto<span class=\"_ _3\"></span>ck opti<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns is reco<span class=\"_ _3\"></span>gnized ove<span class=\"_ _3\"></span>r the ves<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d on a s<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ht lin<span class=\"_ _3\"></span>e bas<span class=\"_ _3\"></span>is an<span class=\"_ _3\"></span>d incl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e inco<span class=\"_ _3\"></span>me s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt in ot<span class=\"_ _3\"></span>her o<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>se. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>tock opt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>d at gr<span class=\"_ _3\"></span>ant da<span class=\"_ _3\"></span>te, base<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>he sh<span class=\"_ _3\"></span>are pr<span class=\"_ _3\"></span>ice at gr<span class=\"_ _3\"></span>ant date, e<span class=\"_ _3\"></span>xercise p<span class=\"_ _3\"></span>rice, e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d vola<span class=\"_ _3\"></span>til<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>, d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd e<span class=\"_ _3\"></span>sti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mates a<span class=\"_ _3\"></span>nd i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e sha<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>-b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d with 1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro to 20.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 (2021: 4.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro; 2020: 2.<span class=\"_ _0\"></span>9 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro). In 2021, 3 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro is refle<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er o<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e (see n<span class=\"_ _3\"></span>ote 3 (d) an<span class=\"_ _3\"></span>d 1.<span class=\"_ _3\"></span>5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in re<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e rem<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ing f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue of sh<span class=\"_ _3\"></span>are o<span class=\"_ _3\"></span>ptio<span class=\"_ _3\"></span>ns of t<span class=\"_ _3\"></span>he for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r lea<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>rsh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>, accou<span class=\"_ _3\"></span>nted for th<span class=\"_ _3\"></span>e mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt th<span class=\"_ _3\"></span>ey s<span class=\"_ _3\"></span>topp<span class=\"_ _3\"></span>ed p<span class=\"_ _3\"></span>rovi<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ser<span class=\"_ _1\"></span>vice<span class=\"_ _3\"></span>s to the Co<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ny (se<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>nd im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>irm<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>'<span class=\"_ _3\"></span>).3. Retained earni<span class=\"_ _0\"></span>ngsTh<span class=\"_ _3\"></span>e cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e in ret<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ed ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et in<span class=\"_ _3\"></span>come of 2022, a<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>al p<span class=\"_ _3\"></span>rofit<span class=\"_ _3\"></span>s, ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>me<span class=\"_ _3\"></span>nts<span class=\"_ _3\"></span>, an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of 35.<span class=\"_ _3\"></span>7 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro d<span class=\"_ _3\"></span>ivi<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>, as ap<span class=\"_ _3\"></span>proved by t<span class=\"_ _3\"></span>he g<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>l sh<span class=\"_ _3\"></span>areh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s me<span class=\"_ _3\"></span>etin<span class=\"_ _3\"></span>g of 28 Ap<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>l 2022. T<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>oa<span class=\"_ _3\"></span>rd of dire<span class=\"_ _3\"></span>ctor<span class=\"_ _3\"></span>s of Ba<span class=\"_ _3\"></span>rco NV wil<span class=\"_ _3\"></span>l prop<span class=\"_ _3\"></span>ose a g<span class=\"_ _3\"></span>ross dividend of<span class=\"_ _0\"></span> 0.44 euro<span class=\"_ _0\"></span> p<span class=\"_ _3\"></span>er shar<span class=\"_ _0\"></span>e out o<span class=\"_ _0\"></span>f the available<span class=\"_ _0\"></span> reserves pe<span class=\"_ _3\"></span>r 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022. I<span class=\"_ _3\"></span>n 2022 a gross d<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 0.40 e<span class=\"_ _3\"></span>uro pe<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>re was g<span class=\"_ _3\"></span>rante<span class=\"_ _3\"></span>d on th<span class=\"_ _3\"></span>e resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s of 2021 for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch the sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers h<span class=\"_ _3\"></span>ad t<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>pti<span class=\"_ _3\"></span>on to eit<span class=\"_ _3\"></span>her re<span class=\"_ _3\"></span>ceive c<span class=\"_ _3\"></span>ash o<span class=\"_ _3\"></span>r ne<span class=\"_ _3\"></span>w sha<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany, 41% opted fo<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>res in<span class=\"_ _3\"></span>stead o<span class=\"_ _3\"></span>f cas<span class=\"_ _3\"></span>h, resu<span class=\"_ _3\"></span>ltin<span class=\"_ _3\"></span>g in ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>l pay<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut of 21 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro di<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>den<span class=\"_ _3\"></span>d in 2022.4. Cumulativ<span class=\"_ _0\"></span>e translation adjustmentIn 2022, t<span class=\"_ _3\"></span>he exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge di<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>ces on t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>slat<span class=\"_ _3\"></span>ion o<span class=\"_ _3\"></span>f forei<span class=\"_ _3\"></span>gn op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns hav<span class=\"_ _3\"></span>e a net p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ive im<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ct of 1<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro, mai<span class=\"_ _3\"></span>nly<span class=\"_ _3\"></span> rela<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g to foreig<span class=\"_ _3\"></span>n bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces h<span class=\"_ _3\"></span>eld i<span class=\"_ _3\"></span>n Hon<span class=\"_ _3\"></span>g Kon<span class=\"_ _3\"></span>g Do<span class=\"_ _3\"></span>lla<span class=\"_ _3\"></span>r (10.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro), US Dol<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r (6 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro), Ch<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>se Yuan (-1<span class=\"_ _3\"></span>.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) and In<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>an Ru<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>e (-1.<span class=\"_ _3\"></span>1 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro)<span class=\"_ _0\"></span>.5. DerivativesDe<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in n<span class=\"_ _3\"></span>ote 20.6. Main<span class=\"_ _0\"></span> shareholdersBefore DilutionPublic<span class=\"_ _18b\"> </span><span class=\"ls19c ws271\">5<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _7b\"> </span><span class=\"ls131 ws161\">62.48%</span></span>Van<span class=\"_ _3\"></span>dew<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>le G<span class=\"_ _3\"></span>ro<span class=\"_ _3\"></span>up NV<span class=\"_ _62\"> </span><span class=\"ls131 ws161\">20,162,824<span class=\"_ _100\"> </span><span class=\"lse0 wsfd\">21<span class=\"_ _3\"></span>.70<span class=\"_ _3\"></span>%</span></span>3D N<span class=\"_ _3\"></span>V<span class=\"_ _298\"> </span><span class=\"ls36 ws40\">4,808,391<span class=\"_ _65\"> </span><span class=\"lsed ws10a\">5.17%</span></span>Norges<span class=\"_ _0\"></span> Bank<span class=\"_ _1ff\"> </span><span class=\"lsde wsfb\">4,10<span class=\"_ _3\"></span>2,0<span class=\"_ _3\"></span>42<span class=\"_ _65\"> </span><span class=\"ls103 ws120\">4.<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>%</span></span>Al<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ra EQ<span class=\"_ _3\"></span>MC A<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et  3,<span class=\"_ _3\"></span>328<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>66<span class=\"_ _6a\"> </span><span class=\"ls89 wsa4\">3.58%</span>Management SGIIC,<span class=\"_ _0\"></span> S.<span class=\"_ _3\"></span>A<span class=\"_ _3\"></span>.Ba<span class=\"_ _3\"></span>rco NV<span class=\"_ _292\"> </span><span class=\"lsfe ws11b\">2,457,<span class=\"_ _0\"></span>922<span class=\"_ _6a\"> </span><span class=\"ls106 ws123\">2<span class=\"_ _3\"></span>.65%</span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _1b1\"> </span><span class=\"lse0 wsfd\">92<span class=\"_ _3\"></span>,916<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>45<span class=\"_ _73\"> </span><span class=\"lse6 ws103\">100%</span></span>17<span class=\"_ _2\"></span>. Non-controlling interestTh<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rep<span class=\"_ _3\"></span>rese<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s the p<span class=\"_ _3\"></span>rop<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y intere<span class=\"_ _3\"></span>st he<span class=\"_ _3\"></span>ld by no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>ts:Name<span class=\"_ _26f\"> </span>Count<span class=\"_ _0\"></span>r<span class=\"_ _3\"></span>y of i<span class=\"_ _0\"></span>ncorporation<span class=\"_ _0\"></span> and operation<span class=\"_ _17c\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _36\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _3d\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _145\"> </span>Hong Kong<span class=\"_ _21d\"> </span>20%<span class=\"_ _40\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _40\"> </span>45%</span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1ef\"> </span>Sw<span class=\"_ _3\"></span>ede<span class=\"_ _3\"></span>n<span class=\"_ _29a\"> </span><span class=\"lsf5 ws112\">30%<span class=\"_ _cf\"> </span></span>-<span class=\"_ _7e\"> </span>-Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e to non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntrol<span class=\"_ _3\"></span>lin<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _e2\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _262\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _45\"> </span>20,345<span class=\"_ _2b\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _1fb\"> </span><span class=\"ls84 ws9f\">-554<span class=\"_ _10d\"> </span></span>-<span class=\"_ _117\"> </span>-T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>bu<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ble t<span class=\"_ _3\"></span>o no<span class=\"_ _3\"></span>n-co<span class=\"_ _3\"></span>ntr<span class=\"_ _3\"></span>oll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>st<span class=\"_ _26d\"> </span>1<span class=\"_ _3\"></span>9,7<span class=\"_ _3\"></span>92<span class=\"_ _da\"> </span><span class=\"lsf9 ws116\"> 41<span class=\"_ _3\"></span>,031<span class=\"_ _3\"></span> <span class=\"_ _274\"> </span><span class=\"ls10b ws128\">37<span class=\"_ _0\"></span>,798</span></span>Up<span class=\"_ _3\"></span>on th<span class=\"_ _3\"></span>e st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t o<span class=\"_ _3\"></span>f Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic, t<span class=\"_ _3\"></span>hree m<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sha<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s have contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>uted in t<span class=\"_ _3\"></span>he c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l of Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Ltd. tot<span class=\"_ _3\"></span>ali<span class=\"_ _3\"></span>ng 45% of tot<span class=\"_ _3\"></span>al contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns of USD 10<span class=\"_ _3\"></span>0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>ese c<span class=\"_ _3\"></span>api<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>l contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns all g<span class=\"_ _3\"></span>ave ri<span class=\"_ _3\"></span>ght to 45% in th<span class=\"_ _3\"></span>e Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c leg<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>ies\u2019 e<span class=\"_ _3\"></span>quit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd resu<span class=\"_ _3\"></span>lt. In 202<span class=\"_ _3\"></span>2 Ba<span class=\"_ _3\"></span>rco agree<span class=\"_ _3\"></span>d to buy t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>kes h<span class=\"_ _3\"></span>eld by t<span class=\"_ _3\"></span>he minority shareholders Appotr<span class=\"_ _0\"></span>onics and CITIC<span class=\"_ _0\"></span>PE in Ci<span class=\"_ _0\"></span>nionic, incre<span class=\"_ _3\"></span>asin<span class=\"_ _3\"></span>g Ba<span class=\"_ _3\"></span>rco\u2019s owner<span class=\"_ _3\"></span>shi<span class=\"_ _3\"></span>p interes<span class=\"_ _3\"></span>t in t<span class=\"_ _3\"></span>he jo<span class=\"_ _3\"></span>int ve<span class=\"_ _3\"></span>nture to 80%<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he 20% s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>ke is show<span class=\"_ _3\"></span>n as n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>con<span class=\"_ _3\"></span>troll<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t.Th<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>ls of C<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c are f<span class=\"_ _3\"></span>ully co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he Enter<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t resu<span class=\"_ _3\"></span>lts i<span class=\"_ _3\"></span>n 2020 - 2022.In ord<span class=\"_ _3\"></span>er to ad<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nce it<span class=\"_ _3\"></span>s grow<span class=\"_ _3\"></span>th i<span class=\"_ _3\"></span>nit<span class=\"_ _3\"></span>iati<span class=\"_ _3\"></span>ve De<span class=\"_ _3\"></span>met<span class=\"_ _3\"></span>ra, B<span class=\"_ _3\"></span>arco sig<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d a joi<span class=\"_ _3\"></span>nt ven<span class=\"_ _3\"></span>ture a<span class=\"_ _3\"></span>gree<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt wit<span class=\"_ _3\"></span>h the Sw<span class=\"_ _3\"></span>edi<span class=\"_ _3\"></span>sh com<span class=\"_ _3\"></span>pany G<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>osco stAB o<span class=\"_ _3\"></span>n Jul<span class=\"_ _3\"></span>y 1, 2022. Ba<span class=\"_ _3\"></span>rco acqu<span class=\"_ _3\"></span>ired 70% of th<span class=\"_ _3\"></span>e sh<span class=\"_ _3\"></span>ares i<span class=\"_ _3\"></span>n Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive co<span class=\"_ _3\"></span>ntrol is t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sfer<span class=\"_ _3\"></span>red o<span class=\"_ _3\"></span>n 1 Jul<span class=\"_ _3\"></span>y 2022, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co fig<span class=\"_ _3\"></span>ures a<span class=\"_ _3\"></span>re take<span class=\"_ _3\"></span>n up in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>igu<span class=\"_ _3\"></span>res of th<span class=\"_ _3\"></span>e Barco G<span class=\"_ _3\"></span>roup f<span class=\"_ _3\"></span>rom 1 Ju<span class=\"_ _3\"></span>ly, 2022 onwa<span class=\"_ _3\"></span>rds.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l enti<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>r 2022, 2021 a<span class=\"_ _3\"></span>nd 2020. Assets and Liabilities Cinionic JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ff\"> </span>2021<span class=\"_ _262\"> </span>2020</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1cc\"> </span><span class=\"lsfb ws118\">11<span class=\"_ _3\"></span>,081<span class=\"_ _1f1\"> </span></span> 6,<span class=\"_ _3\"></span>788 <span class=\"_ _1d6\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>,90<span class=\"_ _3\"></span>1 </span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _1c4\"> </span>134,2<span class=\"_ _2\"></span>48<span class=\"_ _252\"> </span><span class=\"lsdc wsf9\"> 1<span class=\"_ _3\"></span>14<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>07 <span class=\"_ _39\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span> </span></span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _17\"> </span>14<span class=\"_ _3\"></span>5,<span class=\"_ _3\"></span>329<span class=\"_ _cb\"> </span><span class=\"ls3c ws48\"> 121,<span class=\"_ _3\"></span>595 <span class=\"_ _d3\"> </span><span class=\"lsfc ws119\"> 1<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 </span></span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _29c\"> </span>81,<span class=\"_ _3\"></span>381<span class=\"_ _22\"> </span><span class=\"lsdc wsf9\"> 50,<span class=\"_ _3\"></span>149 <span class=\"_ _21f\"> </span><span class=\"lsdd wsfa\"> 4<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>197<span class=\"_ _3\"></span> </span></span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _29d\"> </span>20,3<span class=\"_ _3\"></span>45<span class=\"_ _1f0\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>31 <span class=\"_ _21f\"> </span><span class=\"ls19c ws271\"> 3<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span> </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _1f8\"> </span>101<span class=\"_ _3\"></span>,726<span class=\"_ _2b\"> </span><span class=\"ls4 ws4\"> 91<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>181 <span class=\"_ _252\"> </span> 83,<span class=\"_ _3\"></span>995 </span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _1a7\"> </span>2<span class=\"_ _3\"></span>9,6<span class=\"_ _3\"></span>45<span class=\"_ _22\"> </span><span class=\"lsde wsfb\"> 28<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>2 <span class=\"_ _252\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>0 </span></span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _20d\"> </span><span class=\"lsf7 ws114\">4<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>24<span class=\"_ _22\"> </span> 2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span> <span class=\"_ _21f\"> </span> 24,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> </span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1b8\"> </span>171,395<span class=\"_ _90\"> </span><span class=\"lse0 wsfd\"> 146<span class=\"_ _3\"></span>,416 <span class=\"_ _44\"> </span><span class=\"lsfe ws11b\"> 132<span class=\"_ _3\"></span>,601 </span></span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he Cin<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nic l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Cini<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ic Li<span class=\"_ _3\"></span>mited<span class=\"_ _3\"></span>, Cin<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>ic bv, Barco Cin<span class=\"_ _3\"></span>eA<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico, S<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>A<span class=\"_ _1\"></span>. de C<span class=\"_ _3\"></span>.<span class=\"_ _0\"></span>V., Cinio<span class=\"_ _3\"></span>nic I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>. an<span class=\"_ _3\"></span>d Cini<span class=\"_ _3\"></span>oni<span class=\"_ _3\"></span>c P<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y. Lt<span class=\"_ _0\"></span>d<span class=\"_ _3\"></span>.Be<span class=\"_ _3\"></span>low is th<span class=\"_ _3\"></span>e cons<span class=\"_ _3\"></span>oli<span class=\"_ _3\"></span>date<span class=\"_ _3\"></span>d bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et of th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>nosco le<span class=\"_ _3\"></span>ga<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022. Assets and Liabilities Gnosco JVIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _29b\"> </span><span class=\"ls198 ws26e\">2022</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>n-<span class=\"_ _3\"></span>c<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>rent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _29e\"> </span><span class=\"ls19c ws271\">7,<span class=\"_ _3\"></span>4<span class=\"_ _4\"> </span>4<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>urr<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s<span class=\"_ _22d\"> </span><span class=\"lsfb ws118\">1,<span class=\"_ _3\"></span>218</span>T<span class=\"_ _0\"></span>otal assets<span class=\"_ _216\"> </span><span class=\"lsf5 ws112\">8<span class=\"_ _3\"></span>,66<span class=\"_ _3\"></span>4</span>Equi<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>y attributable<span class=\"_ _0\"></span> to equityholders o<span class=\"_ _0\"></span>f the par<span class=\"_ _0\"></span>ent<span class=\"_ _1cf\"> </span><span class=\"lsfe ws11b\">2,791</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntro<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t<span class=\"_ _10b\"> </span><span class=\"ls84 ws9f\">-55<span class=\"_ _3\"></span>4</span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span> e<span class=\"_ _1\"></span>q<span class=\"_ _3\"></span>u<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y<span class=\"_ _27c\"> </span><span class=\"ls36 ws40\">2,237</span>T<span class=\"_ _0\"></span>otal non<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>current liabi<span class=\"_ _3\"></span>lities<span class=\"_ _159\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _1\"></span>6</span>T<span class=\"_ _0\"></span>otal current liab<span class=\"_ _3\"></span>ilities<span class=\"_ _1a2\"> </span><span class=\"lsee ws10b\">1,632</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _1f8\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>5</span>We refer to note 1<span class=\"_ _3\"></span>.1 for m<span class=\"_ _3\"></span>ore d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co lega<span class=\"_ _3\"></span>l ent<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es: Gn<span class=\"_ _3\"></span>osco AB<span class=\"_ _3\"></span>, Ba<span class=\"_ _3\"></span>rco Solu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns BV<span class=\"_ _0\"></span>, G<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>sco De<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>cus Ltd.Ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ew of th<span class=\"_ _3\"></span>e net i<span class=\"_ _3\"></span>ncom<span class=\"_ _3\"></span>e at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>contro<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>ng int<span class=\"_ _0\"></span>erest:% no<span class=\"_ _3\"></span>n-In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f eurocontrolling<span class=\"_ _4d\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _1ed\"> </span>2021<span class=\"_ _14f\"> </span>2020</span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _29f\"> </span>3<span class=\"_ _3\"></span>74<span class=\"_ _1ed\"> </span><span class=\"ls138 ws167\"> -20<span class=\"_ _3\"></span>8<span class=\"_ _d1\"> </span><span class=\"ls4 ws4\"> 618 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _2a0\"> </span>6,<span class=\"_ _3\"></span>628<span class=\"_ _14f\"> </span><span class=\"lse7 ws104\">2<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>59<span class=\"_ _cb\"> </span><span class=\"lsef ws10c\"> -741</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _129\"> </span>1<span class=\"_ _3\"></span>,07<span class=\"_ _3\"></span>2<span class=\"_ _30\"> </span><span class=\"ls102 ws11f\"> -7<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>4<span class=\"_ _d8\"> </span><span class=\"lsf5 ws112\"> -389</span></span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _198\"> </span>-2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>343<span class=\"_ _1d0\"> </span><span class=\"ls3c ws48\">238<span class=\"_ _d8\"> </span><span class=\"lsfe ws11b\"> -23<span class=\"_ _3\"></span>3</span></span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _20b\"> </span>146<span class=\"_ _278\"> </span><span class=\"lsf4 ws111\"> 1<span class=\"_ _3\"></span>16 <span class=\"_ _e3\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _219\"> </span><span class=\"ls109 ws126\">-<span class=\"_ _3\"></span>688<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a1\"> </span><span class=\"lsdd wsfa\">-976<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _1f3\"> </span>2<span class=\"_ _5b\"> </span>-<span class=\"_ _5b\"> </span>-Net i<span class=\"_ _0\"></span>ncome <span class=\"_ _12a\"> </span>4,<span class=\"_ _3\"></span>215<span class=\"_ _44\"> </span><span class=\"ls10e ws12b\">1<span class=\"_ _3\"></span>,951<span class=\"_ _cb\"> </span><span class=\"ls1a3 ws276\">-74<span class=\"_ _3\"></span>5</span></span>Cinionic L<span class=\"_ _0\"></span>td.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1a8\"> </span>75<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _c1\"> </span><span class=\"lsdc wsf9\"> -<span class=\"_ _3\"></span>93<span class=\"_ _50\"> </span></span>45%<span class=\"_ _5a\"> </span><span class=\"ls4 ws4\"> 278 </span></span>Cinionic b<span class=\"_ _0\"></span>v<span class=\"_ _1f2\"> </span>20%<span class=\"_ _c2\"> </span>1,<span class=\"_ _3\"></span>326<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _51\"> </span><span class=\"lsde wsfb\">1<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>51<span class=\"_ _50\"> </span></span>45%<span class=\"_ _58\"> </span><span class=\"lsf5 ws112\"> -33<span class=\"_ _3\"></span>4</span></span>Cinionic I<span class=\"_ _0\"></span>nc.<span class=\"_ _2a2\"> </span>20%<span class=\"_ _1aa\"> </span>2<span class=\"_ _3\"></span>14<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">4<span class=\"_ _3\"></span>5%<span class=\"_ _148\"> </span><span class=\"lse0 wsfd\"> -3<span class=\"_ _3\"></span>39<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c7\"> </span> -1<span class=\"_ _3\"></span>75</span>Ba<span class=\"_ _3\"></span>rco Cin<span class=\"_ _3\"></span>e Ap<span class=\"_ _3\"></span>p<span class=\"_ _3\"></span>o Me<span class=\"_ _3\"></span>xico<span class=\"_ _3\"></span>, S.<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>. de C<span class=\"_ _3\"></span>.V<span class=\"_ _0\"></span>.<span class=\"_ _109\"> </span><span class=\"ls138 ws167\">20%<span class=\"_ _51\"> </span></span>-4<span class=\"_ _3\"></span>69<span class=\"_ _4c\"> </span><span class=\"ls106 ws123\">45%<span class=\"_ _4e\"> </span><span class=\"ls103 ws120\">107<span class=\"_ _50\"> </span></span>45%<span class=\"_ _c5\"> </span> -105</span>Cinionic Pty<span class=\"_ _0\"></span>. Ltd.<span class=\"_ _266\"> </span>20%<span class=\"_ _3a\"> </span>29<span class=\"_ _14e\"> </span>4<span class=\"_ _3\"></span>5%<span class=\"_ _1a8\"> </span>52<span class=\"_ _151\"> </span><span class=\"lsf5 ws112\">0%<span class=\"_ _98\"> </span><span class=\"ls4 ws4\">-</span></span>Ba<span class=\"_ _3\"></span>rco So<span class=\"_ _3\"></span>lut<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns BV<span class=\"_ _77\"> </span>30%<span class=\"_ _4f\"> </span><span class=\"ls138 ws167\">-20<span class=\"_ _3\"></span>6<span class=\"_ _5b\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co AB<span class=\"_ _2a3\"> </span>30%<span class=\"_ _bd\"> </span><span class=\"lsdc wsf9\">-<span class=\"_ _3\"></span>293<span class=\"_ _263\"> </span></span>-<span class=\"_ _5b\"> </span>-Gn<span class=\"_ _3\"></span>os<span class=\"_ _3\"></span>co De<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>icu<span class=\"_ _3\"></span>s Ltd.<span class=\"_ _249\"> </span><span class=\"lsf5 ws112\">3<span class=\"_ _3\"></span>0%<span class=\"_ _255\"> </span></span>1<span class=\"_ _5b\"> </span>-<span class=\"_ _263\"> </span>-Net i<span class=\"_ _0\"></span>ncome attri<span class=\"_ _0\"></span>butable to<span class=\"_ _0\"></span> non-contr<span class=\"_ _0\"></span>olling int<span class=\"_ _0\"></span>erest<span class=\"_ _2a4\"> </span>677<span class=\"_ _278\"> </span><span class=\"lsf5 ws112\">878<span class=\"_ _b3\"> </span><span class=\"ls10d ws12a\">-3<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>5</span></span>Oth<span class=\"_ _3\"></span>er co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>rehe<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>ve inco<span class=\"_ _3\"></span>me/(los<span class=\"_ _3\"></span>s) for th<span class=\"_ _3\"></span>e pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d, n<span class=\"_ _3\"></span>et of ta<span class=\"_ _3\"></span>x ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le to no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>rolli<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>terest a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s to 2.5 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022<span class=\"_ _3\"></span>, 2.4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021 an<span class=\"_ _3\"></span>d -2.<span class=\"_ _3\"></span>5 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.T<span class=\"_ _0\"></span>ota<span class=\"_ _3\"></span>l comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>ve in<span class=\"_ _3\"></span>come fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e year, net of ta<span class=\"_ _3\"></span>x, p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t at<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ib-uta<span class=\"_ _3\"></span>ble to n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>ntroll<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g interes<span class=\"_ _3\"></span>t am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 3.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2022, 3<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro in 2021 a<span class=\"_ _3\"></span>nd -2.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2020.18. T<span class=\"_ _18\"></span>rade payables and advances received from customersIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1c5\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _20f\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _103\"> </span>20<span class=\"_ _3\"></span>20</span>T<span class=\"_ _0\"></span>rade payables<span class=\"_ _0\"></span><span class=\"fs3 ls4 ws4\"> <span class=\"_ _19b\"> </span><span class=\"fs7b lsfc ws119\">(a)</span></span>1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,920<span class=\"_ _262\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3,97<span class=\"_ _3\"></span>9<span class=\"_ _1ff\"> </span><span class=\"lse0 wsfd\">70,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>9</span>Day<span class=\"_ _3\"></span>s pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g (DP<span class=\"_ _3\"></span>O)<span class=\"_ _2a5\"> </span>68<span class=\"_ _117\"> </span><span class=\"ls135 ws164\">80<span class=\"_ _2a6\"> </span><span class=\"ls42 ws6f\">53</span></span>Advances<span class=\"_ _0\"></span> received<span class=\"_ _0\"></span> from c<span class=\"_ _0\"></span>ustomers<span class=\"_ _1e\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>3<span class=\"_ _1d5\"> </span>54<span class=\"_ _3\"></span>,105<span class=\"_ _1d5\"> </span><span class=\"lsf0 ws10d\">42,<span class=\"_ _3\"></span>37<span class=\"_ _3\"></span>5</span></span>(<span class=\"_ _0\"></span>a) <span class=\"_ _5\"></span>T<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>ncreas<span class=\"_ _3\"></span>e in tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e pay<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les in 202<span class=\"_ _3\"></span>2 an<span class=\"_ _3\"></span>d 2021 is t<span class=\"_ _3\"></span>he resu<span class=\"_ _3\"></span>lt of hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r raw m<span class=\"_ _3\"></span>ateri<span class=\"_ _3\"></span>al p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es (in<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n volu<span class=\"_ _3\"></span>me,<span class=\"_ _3\"></span> component<span class=\"_ _0\"></span> prices and trans<span class=\"_ _0\"></span>po<span class=\"_ _3\"></span>rt charges<span class=\"_ _0\"></span>).<span class=\"_ _0\"></span> In 20<span class=\"_ _0\"></span>22 higher thpurch<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s are ca<span class=\"_ _3\"></span>used b<span class=\"_ _3\"></span>y hig<span class=\"_ _3\"></span>her s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es in t<span class=\"_ _3\"></span>he 4 quarter (<span class=\"_ _2\"></span>+2<span class=\"_ _0\"></span>9% year-<span class=\"_ _3\"></span>over-<span class=\"_ _3\"></span>year). In 2021<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r pu<span class=\"_ _3\"></span>rchase<span class=\"_ _3\"></span>s are ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d thby hi<span class=\"_ _3\"></span>ghe<span class=\"_ _3\"></span>r sa<span class=\"_ _3\"></span>les i<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e 4 quarter (<span class=\"_ _2\"></span>+ 29% y<span class=\"_ _0\"></span>ear-over<span class=\"_ _0\"></span>-year)<span class=\"_ _0\"></span> an<span class=\"_ _3\"></span>d accele<span class=\"_ _3\"></span>rate<span class=\"_ _3\"></span>d purch<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s in vi<span class=\"_ _3\"></span>ew of com<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>nt an<span class=\"_ _3\"></span>d tra<span class=\"_ _3\"></span>nsp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span> scarc<span class=\"_ _0\"></span>it<span class=\"_ _3\"></span>y and r<span class=\"_ _0\"></span>esulted<span class=\"_ _0\"></span> in higher days<span class=\"_ _0\"></span> payable outstanding. Paym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t terms w<span class=\"_ _3\"></span>ith s<span class=\"_ _3\"></span>upp<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>ers w<span class=\"_ _3\"></span>ere no<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>ere has b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n no ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent b<span class=\"_ _3\"></span>eh<span class=\"_ _3\"></span>avi<span class=\"_ _3\"></span>or towa<span class=\"_ _3\"></span>rds sup<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>ier<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. <span class=\"_ _152\"> </span>In 2020 p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>es were b<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ked in v<span class=\"_ _3\"></span>iew of l<span class=\"_ _3\"></span>ower d<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>and to avoid b<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>up of inv<span class=\"_ _3\"></span>entor<span class=\"_ _3\"></span>ies<span class=\"_ _3\"></span>.19. ProvisionsBa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce<span class=\"ls4 ws4\"> </span>AdditionalAmo<span class=\"_ _3\"></span>untsUnu<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts Remeasur<span class=\"_ _0\"></span>ement T<span class=\"_ _0\"></span>ranslation Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce <span class=\"_ _26\"></span><span class=\"ls4 ws4\"> </span>Ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nceIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroshe<span class=\"_ _3\"></span>et 2022provis<span class=\"_ _0\"></span>ions madeuse<span class=\"_ _3\"></span>d rever<span class=\"_ _3\"></span>sed<span class=\"_ _c2\"> </span><span class=\"ls7c ws96\">T<span class=\"_ _0\"></span>ransfers</span>gains/<span class=\"_ _0\"></span>(losses) on<span class=\"_ _0\"></span> DBO(losses)<span class=\"_ _0\"></span> / gainsshe<span class=\"_ _3\"></span>et 2021she<span class=\"_ _3\"></span>et 2020T<span class=\"_ _0\"></span>otal long<span class=\"_ _0\"></span>-term<span class=\"_ _0\"></span> provision<span class=\"_ _be\"> </span>14,99<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>3,3<span class=\"_ _3\"></span>92<span class=\"_ _10c\"> </span>-<span class=\"_ _0\"></span>1,23<span class=\"_ _0\"></span>3<span class=\"_ _1d1\"> </span>-<span class=\"_ _25c\"> </span>-7<span class=\"_ _1\"></span>8<span class=\"_ _88\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _73\"> </span>137<span class=\"_ _10c\"> </span><span class=\"lsf0 ws10d\">31<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>75<span class=\"_ _3a\"> </span><span class=\"ls109 ws126\">40,156</span></span>Defined<span class=\"_ _0\"></span> benefit<span class=\"_ _0\"></span> obligation<span class=\"_ _0\"></span>s <span class=\"_ _a3\"> </span><span class=\"fs7b fc0 ls138 ws167\">(<span class=\"_ _3\"></span>b)</span>4,891<span class=\"_ _e1\"> </span>1,<span class=\"_ _3\"></span>529<span class=\"_ _94\"> </span>-1<span class=\"_ _3\"></span>,01<span class=\"_ _3\"></span>9<span class=\"_ _28b\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1ef\"> </span></span>-18,<span class=\"_ _3\"></span>395<span class=\"_ _25c\"> </span>-<span class=\"_ _3\"></span>49<span class=\"_ _4b\"> </span><span class=\"lsf0 ws10d\">2<span class=\"_ _3\"></span>2,8<span class=\"_ _3\"></span>26<span class=\"_ _151\"> </span><span class=\"lsde wsfb\">31<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>282</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>10,0<span class=\"_ _3\"></span>87<span class=\"_ _e1\"> </span>1,862<span class=\"_ _63\"> </span>-21<span class=\"_ _3\"></span>5<span class=\"_ _28b\"> </span>-<span class=\"_ _81\"> </span><span class=\"ls102 ws11f\">-78<span class=\"_ _28b\"> </span></span>-<span class=\"_ _25c\"> </span>185<span class=\"_ _255\"> </span><span class=\"lsee ws10b\">8,<span class=\"_ _3\"></span>332<span class=\"_ _255\"> </span><span class=\"ls42 ws6f\">8,857</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>20<span class=\"_ _44\"> </span>-<span class=\"_ _d0\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _28b\"> </span>-<span class=\"_ _101\"> </span>2<span class=\"_ _e1\"> </span><span class=\"lsfb ws118\">18<span class=\"_ _bc\"> </span>18</span>T<span class=\"_ _0\"></span>otal short<span class=\"_ _0\"></span>-t<span class=\"_ _0\"></span>erm provision<span class=\"_ _cc\"> </span>9,<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>5<span class=\"_ _7e\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _1\"></span>4<span class=\"_ _151\"> </span>-2,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>9<span class=\"_ _e1\"> </span>78<span class=\"_ _1d1\"> </span>-<span class=\"_ _7e\"> </span>89<span class=\"_ _10\"> </span><span class=\"ls89 wsa4\">8,<span class=\"_ _3\"></span>537<span class=\"_ _4b\"> </span><span class=\"ls36 ws40\">13,720</span></span>T<span class=\"_ _0\"></span>echnical<span class=\"_ _0\"></span> warrant<span class=\"_ _3\"></span>y <span class=\"_ _14a\"> </span><span class=\"fs7b fc0 lsfc ws119\">(a)</span>4,<span class=\"_ _3\"></span>816<span class=\"_ _1b0\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>161<span class=\"_ _1a4\"> </span>-<span class=\"_ _3\"></span>285<span class=\"_ _28b\"> </span>-<span class=\"_ _e1\"> </span><span class=\"lsea ws107\">78<span class=\"_ _230\"> </span></span><span class=\"ff5\">-<span class=\"_ _e1\"> </span></span>55<span class=\"_ _10\"> </span><span class=\"ls103 ws120\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>807<span class=\"_ _70\"> </span><span class=\"lsdd wsfa\">4<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>2</span></span>Restructuring<span class=\"_ _0\"></span> provis<span class=\"_ _0\"></span>ion <span class=\"_ _96\"> </span><span class=\"fs7b fc0 lsf0 ws10d\">(c)</span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>74<span class=\"_ _3\"></span>8<span class=\"_ _7e\"> </span>2,500<span class=\"_ _10\"> </span>-1,2<span class=\"_ _0\"></span>11<span class=\"_ _28b\"> </span>-<span class=\"_ _1dc\"> </span>-<span class=\"_ _1d1\"> </span><span class=\"ff5\">-<span class=\"_ _d0\"> </span></span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">458<span class=\"_ _7b\"> </span><span class=\"lsef ws10c\">3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span>3</span></span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r cla<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d ri<span class=\"_ _3\"></span>sk<span class=\"_ _3\"></span>s <span class=\"_ _2e\"> </span><span class=\"fs7b fc0 ls10e ws12b\">(d)</span>2,<span class=\"_ _3\"></span>761<span class=\"_ _de\"> </span><span class=\"lsfb ws118\">1<span class=\"_ _3\"></span>,083<span class=\"_ _9c\"> </span><span class=\"ls106 ws123\">-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>208<span class=\"_ _1ed\"> </span>-1<span class=\"_ _3\"></span>,4<span class=\"_ _3\"></span>20<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _103\"> </span><span class=\"ff5\">-<span class=\"_ _7e\"> </span></span><span class=\"ls108 ws125\">34<span class=\"_ _70\"> </span><span class=\"lsf5 ws112\">4,<span class=\"_ _3\"></span>272<span class=\"_ _255\"> </span></span></span></span></span>5,055</span>Provisions<span class=\"_ _2a7\"> </span>24,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>3<span class=\"_ _7e\"> </span>8,1<span class=\"_ _3\"></span>36<span class=\"_ _10c\"> </span>-3<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>93<span class=\"_ _3\"></span>7<span class=\"_ _44\"> </span>-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _d7\"> </span>-<span class=\"_ _ae\"> </span>-<span class=\"_ _0\"></span>18,<span class=\"_ _3\"></span>395<span class=\"_ _11\"> </span>226<span class=\"_ _151\"> </span><span class=\"lse7 ws104\">39,71<span class=\"_ _3\"></span>2<span class=\"_ _4b\"> </span><span class=\"ls89 wsa4\">53,<span class=\"_ _3\"></span>876</span></span>(a)<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>echnical warrantyProvis<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s for techn<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al wa<span class=\"_ _3\"></span>rra<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>y are b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on hi<span class=\"_ _3\"></span>stor<span class=\"_ _3\"></span>ica<span class=\"_ _3\"></span>l dat<span class=\"_ _3\"></span>a of the c<span class=\"_ _0\"></span>ost incurr<span class=\"_ _0\"></span>ed for<span class=\"_ _0\"></span> repairs and r<span class=\"_ _0\"></span>eplacements. There ar<span class=\"_ _0\"></span>e thr<span class=\"_ _0\"></span>ee differ<span class=\"_ _0\"></span>ent tec<span class=\"_ _0\"></span>hnical warranty pr<span class=\"_ _0\"></span>ovisions<span class=\"_ _0\"></span>: pro<span class=\"_ _0\"></span>visions r<span class=\"_ _0\"></span>elated t<span class=\"_ _0\"></span>o \u2018st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>dard<span class=\"_ _3\"></span>\u2019 (mo<span class=\"_ _3\"></span>stl<span class=\"_ _3\"></span>y 2 year<span class=\"_ _3\"></span>s) warr<span class=\"_ _3\"></span>ant<span class=\"_ _1\"></span>y per<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d, p<span class=\"_ _3\"></span>rovisi<span class=\"_ _3\"></span>ons re<span class=\"_ _3\"></span>lated to ex<span class=\"_ _3\"></span>tend<span class=\"_ _3\"></span>ed wa<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>y p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns for sp<span class=\"_ _3\"></span>eci<span class=\"_ _3\"></span>fic cl<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>ms/issues. (b)<span class=\"_ _0\"></span> Defined benefit obliga<span class=\"_ _0\"></span>tionsA<span class=\"_ _3\"></span>s pe<span class=\"_ _3\"></span>r 31 Decem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020, the d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it obligation<span class=\"_ _0\"></span>s are<span class=\"_ _0\"></span> composed<span class=\"_ _0\"></span> of:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Pen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _2a8\"> </span>732<span class=\"_ _4b\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _3\"></span> <span class=\"_ _4e\"> </span></span> 26,1<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>0 Early r<span class=\"_ _0\"></span>etirement<span class=\"_ _0\"></span> plans in Belgi<span class=\"_ _0\"></span>um<span class=\"_ _2a9\"> </span>104<span class=\"_ _6a\"> </span><span class=\"ls4 ws4\"> 155 <span class=\"_ _235\"> </span> 2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3 </span>Local l<span class=\"_ _0\"></span>egal requir<span class=\"_ _0\"></span>ements (mainly<span class=\"_ _0\"></span> Italy,<span class=\"_ _0\"></span> Korea,<span class=\"_ _0\"></span> Japan, Germany<span class=\"_ _0\"></span>, F<span class=\"_ _0\"></span>rance)<span class=\"_ _118\"> </span>3<span class=\"_ _3\"></span>,76<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"lse7 ws104\"> 4,59<span class=\"_ _3\"></span>0 <span class=\"_ _151\"> </span><span class=\"ls4 ws4\"> 4,75<span class=\"_ _3\"></span>4 </span></span>A small<span class=\"_ _0\"></span> number of i<span class=\"_ _0\"></span>ndividual plans<span class=\"_ _2aa\"> </span>293<span class=\"_ _63\"> </span><span class=\"lsf7 ws114\"> 246<span class=\"_ _3\"></span> <span class=\"_ _235\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>25 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _2ab\"> </span>4,891<span class=\"_ _4a\"> </span><span class=\"ls4 ws4\"> 22<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>26 <span class=\"_ _52\"> </span><span class=\"ls19a ws26f\"> 31,2<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span> </span></span>Belgian r<span class=\"_ _0\"></span>egulations r<span class=\"_ _0\"></span>equire tha<span class=\"_ _0\"></span>t the minimum<span class=\"_ _0\"></span> guaranteed ra<span class=\"_ _0\"></span>te of retur<span class=\"_ _3\"></span>n on e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer a<span class=\"_ _3\"></span>nd p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>cip<span class=\"_ _3\"></span>ant con<span class=\"_ _3\"></span>tri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing to 1<span class=\"_ _3\"></span>.75%<span class=\"_ _3\"></span>, is an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ally re<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>lcul<span class=\"_ _3\"></span>ated bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n a risk-<span class=\"_ _3\"></span>fre<span class=\"_ _3\"></span>e rate of 10<span class=\"_ _3\"></span>-y<span class=\"_ _3\"></span>ear g<span class=\"_ _3\"></span>overn<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt bo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>ccordin<span class=\"_ _3\"></span>g to IA<span class=\"_ _3\"></span>S19, Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns th<span class=\"_ _3\"></span>at gu<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>ntee a sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d retur<span class=\"_ _3\"></span>n on contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns cl<span class=\"_ _3\"></span>ass<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>y as d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns, a<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer<span class=\"_ _3\"></span> is not re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>onsi<span class=\"_ _3\"></span>ble fo<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>e contr<span class=\"_ _3\"></span>ibu<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts b<span class=\"_ _3\"></span>ut ha<span class=\"_ _3\"></span>s to cover th<span class=\"_ _3\"></span>e inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t risk u<span class=\"_ _3\"></span>nti<span class=\"_ _3\"></span>l the l<span class=\"_ _3\"></span>ega<span class=\"_ _3\"></span>l mi<span class=\"_ _3\"></span>nim<span class=\"_ _3\"></span>um ra<span class=\"_ _3\"></span>tes ap<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cable. The r<span class=\"_ _0\"></span>eturns guaran<span class=\"_ _0\"></span>teed by<span class=\"_ _0\"></span> the insurance<span class=\"_ _0\"></span> companies are in m<span class=\"_ _3\"></span>ost c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s lowe<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n or e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>al to th<span class=\"_ _3\"></span>e min<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um retu<span class=\"_ _3\"></span>rn gua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed by l<span class=\"_ _3\"></span>aw. As a re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup h<span class=\"_ _3\"></span>as not f<span class=\"_ _3\"></span>ul<span class=\"_ _3\"></span>ly he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed it<span class=\"_ _3\"></span>s retur<span class=\"_ _3\"></span>n risk t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gh a<span class=\"_ _3\"></span>n insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nce cont<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d a prov<span class=\"_ _3\"></span>isio<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>eds to b<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>nted for. The p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ns at Ba<span class=\"_ _3\"></span>rco are fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ced thro<span class=\"_ _3\"></span>ugh g<span class=\"_ _3\"></span>roup i<span class=\"_ _3\"></span>nsur<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce contr<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s are b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span><span class=\"ws4\">-</span>fit<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g from a con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate gr<span class=\"_ _3\"></span>ante<span class=\"_ _3\"></span>d by the i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. When t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>re is und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>und<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g, th<span class=\"_ _3\"></span>is wi<span class=\"_ _3\"></span>ll be cove<span class=\"_ _3\"></span>red by the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cing f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d an<span class=\"_ _3\"></span>d in ca<span class=\"_ _3\"></span>se th<span class=\"_ _3\"></span>is is ins<span class=\"_ _3\"></span>uf<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>nt, a<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>r contr<span class=\"_ _3\"></span>ib<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>ns w<span class=\"_ _3\"></span>ill b<span class=\"_ _3\"></span>e req<span class=\"_ _3\"></span>ues<span class=\"_ _3\"></span>ted. IA<span class=\"_ _3\"></span>S 19 re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>res an e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y to reco<span class=\"_ _3\"></span>gni<span class=\"_ _3\"></span>ze a liabi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n an emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>e has p<span class=\"_ _3\"></span>rovid<span class=\"_ _3\"></span>ed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice in exch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge for e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyee be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>s to be pa<span class=\"_ _3\"></span>id in t<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re. Th<span class=\"_ _3\"></span>erefore, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>ns are set<span class=\"_ _3\"></span>up. T<span class=\"_ _3\"></span>he o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns are m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ured o<span class=\"_ _3\"></span>n a dis<span class=\"_ _3\"></span>counte<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>is be<span class=\"_ _3\"></span>ca<span class=\"_ _3\"></span>use th<span class=\"_ _3\"></span>ey a<span class=\"_ _3\"></span>re set<span class=\"_ _3\"></span>tle<span class=\"_ _3\"></span>d many ye<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>s af<span class=\"_ _3\"></span>ter th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es re<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>de<span class=\"_ _3\"></span>r the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d ser<span class=\"_ _1\"></span>vice. A q<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>lif<span class=\"_ _3\"></span>ied a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>uar<span class=\"_ _1\"></span>y has d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed th<span class=\"_ _3\"></span>e pres<span class=\"_ _3\"></span>ent v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>t ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir val<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>s are he<span class=\"_ _3\"></span>ld by an i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce comp<span class=\"_ _3\"></span>any. The p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>cted u<span class=\"_ _3\"></span>nit cred<span class=\"_ _3\"></span>it me<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>d was u<span class=\"_ _3\"></span>sed to es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mate th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>, the d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it cos<span class=\"_ _3\"></span>t an<span class=\"_ _3\"></span>d the re<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>easu<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re 15 de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s in Ba<span class=\"_ _3\"></span>rco Belg<span class=\"_ _3\"></span>iu<span class=\"_ _3\"></span>m, for w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch we sh<span class=\"_ _3\"></span>ow be<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>e a<span class=\"_ _3\"></span>ggre<span class=\"_ _3\"></span>gated v<span class=\"_ _3\"></span>iew a<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>se d<span class=\"_ _3\"></span>o not d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>fer mat<span class=\"_ _0\"></span>erially fr<span class=\"_ _0\"></span>om characteri<span class=\"_ _0\"></span>stics<span class=\"_ _3\"></span>, r<span class=\"_ _0\"></span>egulatory environment,<span class=\"_ _0\"></span> repor<span class=\"_ _3\"></span>t<span class=\"ls4 ws4\">-</span>ing s<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt or f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g ar<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt. I<span class=\"_ _3\"></span>n accord<span class=\"_ _3\"></span>ance w<span class=\"_ _3\"></span>ith I<span class=\"_ _3\"></span>AS 19 th<span class=\"_ _3\"></span>e dis<span class=\"_ _3\"></span>closu<span class=\"_ _3\"></span>re is in th<span class=\"_ _3\"></span>e form o<span class=\"_ _3\"></span>f a wei<span class=\"_ _3\"></span>ghted ave<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>ge.2022, 202<span class=\"_ _3\"></span>1 an<span class=\"_ _3\"></span>d 2020 chan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>an d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f pl<span class=\"_ _3\"></span>an as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s:2022<span class=\"_ _2ac\"> </span>2021<span class=\"_ _2ac\"> </span>2020De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined De<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>ed Fair va<span class=\"_ _3\"></span>lue Net de<span class=\"_ _0\"></span>fined benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit benefit<span class=\"_ _0\"></span> of pl<span class=\"_ _3\"></span>an benefit In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euroobligationassetsliabilityobligationassetsliabilityobligationassetsliabilityPen<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>on co<span class=\"_ _3\"></span>st c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>rge<span class=\"_ _3\"></span>d to P/LOn 1 J<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _256\"> </span>13<span class=\"_ _3\"></span>0,<span class=\"_ _1\"></span>214<span class=\"_ _12e\"> </span>-112,37<span class=\"_ _0\"></span>8<span class=\"_ _c3\"> </span><span class=\"ff5 ls199 wsd9\">1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _e7\"> </span></span> 134,340<span class=\"_ _0\"></span> <span class=\"_ _c5\"> </span><span class=\"ls106 ws123\"> -108<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>50 <span class=\"_ _4c\"> </span><span class=\"ff5 ls4 ws4\"> 26<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>90 <span class=\"_ _e7\"> </span></span><span class=\"lsf7 ws114\"> 1<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> <span class=\"_ _c5\"> </span></span> -100<span class=\"_ _3\"></span>,18<span class=\"_ _3\"></span>5 <span class=\"_ _1a0\"> </span><span class=\"ff5 ls167 ws22d\"> 24<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>31 </span></span>Se<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>vi<span class=\"_ _3\"></span>ce cos<span class=\"_ _3\"></span>t<span class=\"_ _85\"> </span><span class=\"ls89 wsa4\">5,575<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _51\"> </span><span class=\"ff5 lsee ws10b\">5,<span class=\"_ _3\"></span>575<span class=\"_ _d4\"> </span></span> 5<span class=\"_ _3\"></span>,639 <span class=\"_ _71\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 5,<span class=\"_ _3\"></span>639 <span class=\"_ _17e\"> </span></span><span class=\"ls19c ws271\"> 7,<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _7b\"> </span></span>-<span class=\"_ _53\"> </span><span class=\"ff5 ls199 wsd9\"> 7,<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span>Net i<span class=\"_ _3\"></span>nte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>nse<span class=\"_ _f4\"> </span>987<span class=\"_ _f\"> </span>-<span class=\"_ _3\"></span>862<span class=\"_ _3d\"> </span><span class=\"ff5 ls10e ws12b\">126<span class=\"_ _fe\"> </span></span> 3<span class=\"_ _3\"></span>88 <span class=\"_ _51\"> </span><span class=\"lsde wsfb\"> -<span class=\"_ _3\"></span>310 <span class=\"_ _3d\"> </span></span><span class=\"ff5\"> 78 <span class=\"_ _b8\"> </span></span> 5<span class=\"_ _3\"></span>85 <span class=\"_ _4f\"> </span><span class=\"lsef ws10c\"> -<span class=\"_ _1\"></span>4<span class=\"_ _3\"></span>74<span class=\"_ _3\"></span> <span class=\"_ _147\"> </span><span class=\"ff5 ls1a2 ws275\"> 111 </span></span>Decrea<span class=\"_ _0\"></span>se due t<span class=\"_ _0\"></span>o curtailement<span class=\"_ _27c\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s<span class=\"_ _202\"> </span>6,562<span class=\"_ _b8\"> </span>-862<span class=\"_ _bd\"> </span><span class=\"ls10e ws12b\">5,701<span class=\"_ _17e\"> </span></span> 6<span class=\"_ _3\"></span>,026 <span class=\"_ _4f\"> </span><span class=\"ls10d ws12a\"> -310<span class=\"_ _3\"></span> <span class=\"_ _c4\"> </span></span> 5,<span class=\"_ _3\"></span>716 <span class=\"_ _37\"> </span> 8<span class=\"_ _3\"></span>,51<span class=\"_ _3\"></span>3 <span class=\"_ _98\"> </span><span class=\"ls107 ws124\"> -<span class=\"_ _3\"></span>474<span class=\"_ _3\"></span> <span class=\"_ _df\"> </span><span class=\"lsde wsfb\"> 8,039 </span></span>Benefits paid<span class=\"_ _1db\"> </span>-3,030<span class=\"_ _4f\"> </span>3,030<span class=\"_ _6c\"> </span><span class=\"ff5 ls4 ws4\">-<span class=\"_ _18c\"> </span></span> -2,<span class=\"_ _3\"></span>383 <span class=\"_ _df\"> </span> 2,383 <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _37\"> </span></span> -1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285 <span class=\"_ _c3\"> </span> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>285<span class=\"_ _3\"></span> <span class=\"_ _94\"> </span><span class=\"ff5 ls4 ws28b\"> <span class=\"_ _8\"> </span>-   </span>Remeasurement gains<span class=\"_ _0\"></span>/losses in OCIIncre<span class=\"_ _0\"></span>ase due t<span class=\"_ _0\"></span>o effect o<span class=\"_ _0\"></span>f transfers<span class=\"_ _21d\"> </span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _6c\"> </span><span class=\"ff5\">-<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _8e\"> </span>-<span class=\"_ _6e\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _8\"> </span>-   <span class=\"_ _1a4\"> </span></span>-<span class=\"_ _1a4\"> </span>-<span class=\"_ _60\"> </span><span class=\"ff5 ws28b\"> <span class=\"_ _7\"> </span>-   </span>Ret<span class=\"_ _3\"></span>urn o<span class=\"_ _3\"></span>n p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (exc<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>s i<span class=\"_ _3\"></span>ncl<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n ne<span class=\"_ _3\"></span>t inte<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>t ex<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>e)<span class=\"_ _140\"> </span>-<span class=\"_ _53\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>210<span class=\"_ _17e\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _1a4\"> </span>-<span class=\"_ _37\"> </span><span class=\"lsde wsfb\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>231 <span class=\"_ _14c\"> </span></span><span class=\"ls36 ws40\"> -<span class=\"_ _0\"></span>2,231 <span class=\"_ _7b\"> </span><span class=\"ff4 ls4 ws4\">-<span class=\"_ _37\"> </span> -2,7<span class=\"_ _3\"></span>33 <span class=\"_ _f9\"> </span></span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 </span></span>Ac<span class=\"_ _3\"></span>tua<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m cha<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s in f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l as<span class=\"_ _3\"></span>sum<span class=\"_ _3\"></span>pt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns<span class=\"_ _294\"> </span><span class=\"lsf4 ws111\">-16<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>72<span class=\"_ _8e\"> </span></span>-<span class=\"_ _14c\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>2<span class=\"_ _df\"> </span></span><span class=\"ls3c ws48\"> -5,679 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 lse3 ws100\"> -5<span class=\"_ _3\"></span>,67<span class=\"_ _3\"></span>9 <span class=\"_ _c3\"> </span></span> 1,69<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _d4\"> </span><span class=\"ff5\"> 1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>698 </span>Actuarial<span class=\"_ _0\"></span> changes arising<span class=\"_ _0\"></span> from experienc<span class=\"_ _0\"></span>e adjustments<span class=\"_ _107\"> </span>-1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>14<span class=\"_ _1a4\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _17e\"> </span><span class=\"ff5 ls1ad ws27f\">-1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _37\"> </span></span><span class=\"lsfe ws11b\"> -2,091 <span class=\"_ _7b\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"ff5 ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>1 <span class=\"_ _10f\"> </span></span> 99<span class=\"_ _3\"></span>8 <span class=\"_ _7b\"> </span>-<span class=\"_ _fe\"> </span><span class=\"ff5\"> 99<span class=\"_ _3\"></span>8 </span></span>Su<span class=\"_ _3\"></span>b-tot<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>cl<span class=\"_ _3\"></span>ude<span class=\"_ _3\"></span>d in O<span class=\"_ _3\"></span>CI<span class=\"_ _2ad\"> </span>-<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>,186<span class=\"_ _c4\"> </span>-<span class=\"_ _0\"></span>1,21<span class=\"_ _0\"></span>0<span class=\"_ _fd\"> </span>-<span class=\"_ _0\"></span>18,395<span class=\"_ _df\"> </span> -<span class=\"_ _3\"></span>7,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> <span class=\"_ _14c\"> </span> -<span class=\"_ _0\"></span>2,<span class=\"_ _3\"></span>231<span class=\"_ _0\"></span> <span class=\"_ _5a\"> </span> -<span class=\"_ _2\"></span>10,000<span class=\"_ _0\"></span> <span class=\"_ _149\"> </span> 2<span class=\"_ _3\"></span>,69<span class=\"_ _3\"></span>6 <span class=\"_ _f9\"> </span><span class=\"ls110 ws12d\"> -2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>3 <span class=\"_ _fe\"> </span><span class=\"ls10d ws12a\"> -3<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span> </span></span>Contributions by<span class=\"_ _0\"></span> emp<span class=\"_ _3\"></span>loyer<span class=\"_ _2ae\"> </span>-<span class=\"_ _37\"> </span>-<span class=\"_ _3\"></span>4,409<span class=\"_ _18c\"> </span><span class=\"ff5 ls131 ws161\">-<span class=\"_ _3\"></span>4,409<span class=\"_ _1a4\"> </span></span>-<span class=\"_ _18c\"> </span><span class=\"ls103 ws120\"> -<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,070<span class=\"_ _3\"></span> <span class=\"_ _108\"> </span></span><span class=\"ff5\"> -<span class=\"_ _3\"></span>4,070 <span class=\"_ _71\"> </span></span>-<span class=\"_ _23\"> </span><span class=\"lse7 ws104\"> -<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 <span class=\"_ _108\"> </span><span class=\"ff5 lsfc ws119\"> -6<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>43 </span></span>On 31 D<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _79\"> </span>1<span class=\"_ _3\"></span>16<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>60<span class=\"_ _f1\"> </span>-<span class=\"_ _0\"></span>115,828<span class=\"_ _4a\"> </span>732<span class=\"_ _e7\"> </span> 1<span class=\"_ _3\"></span>30,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>14 <span class=\"_ _ea\"> </span> -1<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>2<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span> <span class=\"_ _f9\"> </span> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>3<span class=\"_ _3\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _59\"> </span> 134,340 <span class=\"_ _ee\"> </span><span class=\"ls109 ws126\"> -1<span class=\"_ _0\"></span>08,1<span class=\"_ _3\"></span>50 <span class=\"_ _14e\"> </span><span class=\"ls4 ws4\"> 26<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>190 </span></span>Th<span class=\"_ _3\"></span>e 17 m<span class=\"_ _3\"></span>illi<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it li<span class=\"_ _3\"></span>abi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>n2022 ver<span class=\"_ _3\"></span>sus 202<span class=\"_ _3\"></span>1 is ma<span class=\"_ _3\"></span>inly re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d vi<span class=\"_ _3\"></span>a oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>preh<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>siveinco<span class=\"_ _3\"></span>me as c<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>sed by ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters (s<span class=\"_ _3\"></span>ee b<span class=\"_ _3\"></span>elow t<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le):incre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate (3.7<span class=\"_ _3\"></span>% vs 0.<span class=\"_ _3\"></span>8%<span class=\"_ _3\"></span>) an<span class=\"_ _3\"></span>d hig<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>edme<span class=\"_ _3\"></span>rit a<span class=\"_ _3\"></span>nd in<span class=\"_ _3\"></span>fla<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n in 2022 a<span class=\"_ _3\"></span>nd 2023<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e 8.4 m<span class=\"_ _3\"></span>ill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro d<span class=\"_ _3\"></span>ecreas<span class=\"_ _3\"></span>e in net l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y in 2021 ve<span class=\"_ _3\"></span>rsu<span class=\"_ _3\"></span>s2020 is mai<span class=\"_ _3\"></span>nly co<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>g fro<span class=\"_ _3\"></span>m increa<span class=\"_ _3\"></span>sed d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>nt rate (0.<span class=\"_ _3\"></span>8% vs0.<span class=\"_ _3\"></span>3%) a<span class=\"_ _3\"></span>nd h<span class=\"_ _3\"></span>igh<span class=\"_ _3\"></span>er ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve retur<span class=\"_ _3\"></span>n on p<span class=\"_ _3\"></span>lan a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, bot<span class=\"_ _3\"></span>h record<span class=\"_ _3\"></span>edvia O<span class=\"_ _3\"></span>CI (eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y), as ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eter<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e P&amp;L im<span class=\"_ _3\"></span>pac<span class=\"_ _3\"></span>t of\u20ac -1.<span class=\"_ _3\"></span>8m is t<span class=\"_ _3\"></span>he res<span class=\"_ _3\"></span>ult of low<span class=\"_ _3\"></span>er di<span class=\"_ _3\"></span>scoun<span class=\"_ _3\"></span>t rate ver<span class=\"_ _3\"></span>sus m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mumgua<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nteed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retu<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch ne<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>s to be com<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sate<span class=\"_ _3\"></span>d by the e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer.In 2020, 2 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on eu<span class=\"_ _3\"></span>ro net in<span class=\"_ _3\"></span>creas<span class=\"_ _3\"></span>e in P&amp;L is c<span class=\"_ _3\"></span>aus<span class=\"_ _3\"></span>ed by t<span class=\"_ _3\"></span>heincrea<span class=\"_ _3\"></span>sed s<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ice cost a<span class=\"_ _3\"></span>s a result of a l<span class=\"_ _3\"></span>ow disco<span class=\"_ _3\"></span>unt r<span class=\"_ _3\"></span>ate com<span class=\"_ _3\"></span><span class=\"ws4\">-</span>pare<span class=\"_ _3\"></span>d to the m<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>mu<span class=\"_ _3\"></span>m gua<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>teed f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re rate of retur<span class=\"_ _3\"></span>n, forwhi<span class=\"_ _3\"></span>ch ad<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>loyer co<span class=\"_ _3\"></span>ntri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wi<span class=\"_ _3\"></span>ll be re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted.  Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s (1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro) a<span class=\"_ _3\"></span>re ful<span class=\"_ _3\"></span>lyinves<span class=\"_ _3\"></span>ted in i<span class=\"_ _3\"></span>nsu<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>ce po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. In 2022<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e tar<span class=\"_ _3\"></span>get as<span class=\"_ _3\"></span>set m<span class=\"_ _3\"></span>ixdid n<span class=\"_ _3\"></span>ot cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pare<span class=\"_ _3\"></span>d to 2021 an<span class=\"_ _3\"></span>d consi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s of 67<span class=\"_ _0\"></span>.<span class=\"_ _3\"></span>50%gove<span class=\"_ _3\"></span>rnm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t bo<span class=\"_ _3\"></span>nds<span class=\"_ _3\"></span>, 14% real es<span class=\"_ _3\"></span>tate, 7<span class=\"_ _0\"></span>.5% cor<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>rate b<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ds, 6%corporat<span class=\"_ _0\"></span>e loans<span class=\"_ _0\"></span> and 5% s<span class=\"_ _0\"></span>hares.Th<span class=\"_ _3\"></span>e pr<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>cipa<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns use<span class=\"_ _3\"></span>d in d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ini<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span><span class=\"ws4\">-</span>gati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s for th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up's pl<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s are sh<span class=\"_ _3\"></span>own b<span class=\"_ _3\"></span>elo<span class=\"_ _3\"></span>w:2022<span class=\"_ _c2\"> </span>2021<span class=\"_ _c4\"> </span>2020Di<span class=\"_ _3\"></span>scou<span class=\"_ _3\"></span>nt r<span class=\"_ _3\"></span>ate<span class=\"_ _218\"> </span>3<span class=\"_ _3\"></span>.73%<span class=\"_ _37\"> </span><span class=\"ls89 wsa4\">0.77<span class=\"_ _3\"></span>%<span class=\"_ _18c\"> </span><span class=\"lsf5 ws112\">0<span class=\"_ _3\"></span>.2<span class=\"_ _3\"></span>9%</span></span>Futu<span class=\"_ _3\"></span>re sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>ncre<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s*<span class=\"_ _4f\"> </span>8.81%<span class=\"_ _df\"> </span><span class=\"lse7 ws104\">2.<span class=\"_ _3\"></span>43%<span class=\"_ _df\"> </span><span class=\"ls106 ws123\">2.<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>4%</span></span>Futu<span class=\"_ _3\"></span>re con<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r pr<span class=\"_ _3\"></span>ice 8.14<span class=\"_ _0\"></span>%<span class=\"_ _c4\"> </span><span class=\"ls89 wsa4\">1<span class=\"_ _3\"></span>.75%<span class=\"_ _17e\"> </span>1.75%</span>index increases<span class=\"_ _0\"></span>*<span class=\"_ _3\"></span>*8.<span class=\"_ _3\"></span>81<span class=\"_ _3\"></span>% in 2<span class=\"_ _3\"></span>022-<span class=\"_ _3\"></span>2023 ; 2<span class=\"_ _3\"></span>.67<span class=\"_ _3\"></span>% f<span class=\"_ _3\"></span>rom 20<span class=\"_ _3\"></span>24 8.<span class=\"_ _3\"></span>14% in 202<span class=\"_ _3\"></span>2-2<span class=\"_ _3\"></span>023 ; 2<span class=\"_ _3\"></span>% fro<span class=\"_ _3\"></span>m 2024Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g over<span class=\"_ _1\"></span>vie<span class=\"_ _3\"></span>w sum<span class=\"_ _3\"></span>mar<span class=\"_ _3\"></span>izes th<span class=\"_ _3\"></span>e sens<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nal<span class=\"_ _3\"></span>ysis pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed fo<span class=\"_ _3\"></span>r sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant as<span class=\"_ _3\"></span>su<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s as at 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he fi<span class=\"_ _3\"></span>gure<span class=\"_ _3\"></span>s show t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _52\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _d4\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _c3\"> </span>20<span class=\"_ _3\"></span>20</span>Disco<span class=\"_ _3\"></span>unt rate0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _1f6\"> </span>331<span class=\"_ _c3\"> </span><span class=\"ls84 ws9f\">2,834<span class=\"_ _c4\"> </span><span class=\"lsf7 ws114\">3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>24</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _215\"> </span>-26<span class=\"_ _3\"></span>5<span class=\"_ _14c\"> </span><span class=\"lse9 ws106\">-4,<span class=\"_ _3\"></span>305<span class=\"_ _14c\"> </span><span class=\"ls109 ws126\">-3,868</span></span>Futur<span class=\"_ _3\"></span>e sa<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _8d\"> </span><span class=\"lsdc wsf9\">-143<span class=\"_ _18c\"> </span></span>-1,<span class=\"_ _3\"></span>036<span class=\"_ _df\"> </span>-1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>20.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _150\"> </span>112<span class=\"_ _c4\"> </span><span class=\"lsdc wsf9\">1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>93<span class=\"_ _89\"> </span><span class=\"lse7 ws104\">59<span class=\"_ _3\"></span>6</span></span>Fut<span class=\"_ _0\"></span>ure consumer price<span class=\"_ _0\"></span> index change0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _218\"> </span>-<span class=\"_ _3\"></span>88<span class=\"_ _148\"> </span><span class=\"lsed ws10a\">-<span class=\"_ _3\"></span>609<span class=\"_ _b9\"> </span><span class=\"ls102 ws11f\">-7<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>1</span></span>0.<span class=\"_ _3\"></span>25%<span class=\"_ _3\"></span> in<span class=\"_ _3\"></span>crea<span class=\"_ _3\"></span>se<span class=\"_ _47\"> </span>10<span class=\"_ _3\"></span>6<span class=\"_ _147\"> </span><span class=\"lsf0 ws10d\">615<span class=\"_ _fe\"> </span><span class=\"ls89 wsa4\">735</span></span>Th<span class=\"_ _3\"></span>e se<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>lys<span class=\"_ _3\"></span>es ab<span class=\"_ _3\"></span>ove have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d bas<span class=\"_ _3\"></span>ed on<span class=\"_ _3\"></span>a met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>d tha<span class=\"_ _3\"></span>t ext<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>lates t<span class=\"_ _3\"></span>he i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on as a re<span class=\"_ _3\"></span>sult of rea<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>nab<span class=\"_ _3\"></span>le cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es i<span class=\"_ _3\"></span>n key ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns occur<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g at th<span class=\"_ _3\"></span>e en<span class=\"_ _3\"></span>d of th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d. T<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ensi<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y analyses ar<span class=\"_ _0\"></span>e based on<span class=\"_ _0\"></span> a change in<span class=\"_ _0\"></span> a significant assump<span class=\"_ _0\"></span>tion, keep<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g all ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r ass<span class=\"_ _3\"></span>umpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns cons<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nt. T<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se may n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e repre<span class=\"_ _3\"></span>sent<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve for an a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ual ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge in t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>efi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>nef<span class=\"_ _3\"></span>it ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on, a<span class=\"_ _3\"></span>s it is un<span class=\"_ _3\"></span>like<span class=\"_ _3\"></span>ly th<span class=\"_ _3\"></span>at cha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>es in a<span class=\"_ _3\"></span>ssu<span class=\"_ _3\"></span>mpt<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns wou<span class=\"_ _3\"></span>ld occur i<span class=\"_ _3\"></span>n iso<span class=\"_ _3\"></span>lati<span class=\"_ _3\"></span>on of o<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>not<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _bc\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _56\"> </span>2021<span class=\"_ _105\"> </span>2020</span>Wit<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e ne<span class=\"_ _3\"></span>xt 1<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ths<span class=\"_ _54\"> </span>4,750<span class=\"_ _c5\"> </span><span class=\"lsda wsf7\"> 3,724<span class=\"_ _0\"></span> <span class=\"_ _58\"> </span><span class=\"lsdd wsfa\"> 3,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>97 </span></span>Between 2<span class=\"_ _0\"></span> and 5 years<span class=\"_ _62\"> </span>33,0<span class=\"_ _3\"></span>02<span class=\"_ _c8\"> </span><span class=\"ls4 ws4\"> 24,69<span class=\"_ _3\"></span>6 <span class=\"_ _e6\"> </span> 20,<span class=\"_ _3\"></span>86<span class=\"_ _3\"></span>5 </span>Between 5<span class=\"_ _0\"></span> and 10 y<span class=\"_ _0\"></span>ears<span class=\"_ _71\"> </span>4<span class=\"_ _3\"></span>0,332<span class=\"_ _19d\"> </span><span class=\"ls103 ws120\"> 41<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>8 <span class=\"_ _55\"> </span><span class=\"ls4 ws4\"> 4<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>7 </span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts<span class=\"_ _46\"> </span><span class=\"lsf5 ws112\">78,08<span class=\"_ _3\"></span>4<span class=\"_ _97\"> </span></span> 7<span class=\"_ _3\"></span>0,0<span class=\"_ _3\"></span>68 <span class=\"_ _96\"> </span> 70,<span class=\"_ _3\"></span>919 Th<span class=\"_ _3\"></span>e aver<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e du<span class=\"_ _3\"></span>rati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he d<span class=\"_ _3\"></span>ef<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>fit p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ob<span class=\"_ _3\"></span>lig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on at the e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f the re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od is 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs (1<span class=\"_ _3\"></span>2.<span class=\"_ _3\"></span>3 yea<span class=\"_ _3\"></span>rs i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 12.<span class=\"_ _3\"></span>6 year<span class=\"_ _3\"></span>s in 2020). Th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted em<span class=\"_ _3\"></span>pl<span class=\"_ _3\"></span>oyer cont<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>but<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s to the p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n for th<span class=\"_ _3\"></span>e nex<span class=\"_ _3\"></span>t a<span class=\"_ _3\"></span>nnu<span class=\"_ _3\"></span>al re<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d am<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s to 9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (3<span class=\"_ _3\"></span>.9 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro in 202<span class=\"_ _3\"></span>2 and 4<span class=\"_ _3\"></span>.0 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2021<span class=\"_ _3\"></span>); the em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re exp<span class=\"_ _3\"></span>ecte<span class=\"_ _3\"></span>d to amo<span class=\"_ _3\"></span>unt to 1.<span class=\"_ _3\"></span>2 m<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro (1<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>1 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro in 2022 an<span class=\"_ _3\"></span>d 2021<span class=\"_ _3\"></span>).Ear<span class=\"_ _3\"></span>ly reti<span class=\"_ _3\"></span>reme<span class=\"_ _3\"></span>nt p<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>s are reco<span class=\"_ _3\"></span>gnized a<span class=\"_ _3\"></span>s lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span> wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any is co<span class=\"_ _3\"></span>mm<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ted to termi<span class=\"_ _3\"></span>nate th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploy<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e em<span class=\"_ _3\"></span>ploye<span class=\"_ _3\"></span>es af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>efore t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>mal ret<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent d<span class=\"_ _3\"></span>ate.In Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>, a mult<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>emp<span class=\"_ _3\"></span>loye<span class=\"_ _3\"></span>r pl<span class=\"_ _3\"></span>an exi<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>s for so<span class=\"_ _3\"></span>me b<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e colla<span class=\"_ _3\"></span>rs wh<span class=\"_ _3\"></span>ere pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s go into a se<span class=\"_ _3\"></span>cto<span class=\"_ _3\"></span>ral f<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>d. A<span class=\"_ _3\"></span>s Ba<span class=\"_ _3\"></span>rco doe<span class=\"_ _3\"></span>s not have a<span class=\"_ _3\"></span>ccess to infor<span class=\"_ _3\"></span>mat<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>bo<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e pl<span class=\"_ _3\"></span>an th<span class=\"_ _3\"></span>at sat<span class=\"_ _3\"></span>isf<span class=\"_ _3\"></span>ies t<span class=\"_ _3\"></span>he requ<span class=\"_ _3\"></span>irem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>rd, th<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>lan is f<span class=\"_ _3\"></span>ur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r clas<span class=\"_ _3\"></span>sif<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>d as a def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed cont<span class=\"_ _3\"></span>rib<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>ion p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d exp<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ed as i<span class=\"_ _3\"></span>ncu<span class=\"_ _3\"></span>rred<span class=\"_ _3\"></span>.Th<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>efit p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s from t<span class=\"_ _3\"></span>he p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>n ass<span class=\"_ _3\"></span>ets:(c) Restr<span class=\"_ _3\"></span>uctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g provi<span class=\"_ _3\"></span>sio<span class=\"_ _3\"></span>nSe<span class=\"_ _3\"></span>e note 5 '<span class=\"_ _3\"></span>Res<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d im<span class=\"_ _3\"></span>pai<span class=\"_ _3\"></span>rm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s'<span class=\"_ _0\"></span>. We refer to th<span class=\"_ _3\"></span>e acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span> standards on<span class=\"_ _0\"></span> provi<span class=\"_ _0\"></span>sions incl<span class=\"_ _0\"></span>uding pro<span class=\"_ _0\"></span>visions<span class=\"_ _0\"></span> on restructuring.(d) Oth<span class=\"_ _3\"></span>er cl<span class=\"_ _3\"></span>aim<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d risk<span class=\"_ _3\"></span>sTh<span class=\"_ _3\"></span>is prov<span class=\"_ _3\"></span>isi<span class=\"_ _3\"></span>on rel<span class=\"_ _3\"></span>ates to dis<span class=\"_ _3\"></span>pute<span class=\"_ _3\"></span>s with s<span class=\"_ _3\"></span>up<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s, p<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng li<span class=\"_ _3\"></span>tig<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tions and<span class=\"_ _0\"></span> specific cust<span class=\"_ _0\"></span>omer warranty disput<span class=\"_ _0\"></span>es. Barc<span class=\"_ _0\"></span>o cannot provi<span class=\"_ _3\"></span>de d<span class=\"_ _3\"></span>eta<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>s on th<span class=\"_ _3\"></span>e sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s, as t<span class=\"_ _3\"></span>his cou<span class=\"_ _3\"></span>ld ca<span class=\"_ _3\"></span>use co<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span>siderable harm<span class=\"_ _0\"></span> to Bar<span class=\"_ _0\"></span>co in<span class=\"_ _0\"></span> the particular dispu<span class=\"_ _0\"></span>tes.With re<span class=\"_ _3\"></span>sp<span class=\"_ _3\"></span>ect to th<span class=\"_ _3\"></span>e cont<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span>ent l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s rela<span class=\"_ _3\"></span>ted to form<span class=\"_ _3\"></span>er acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s, th<span class=\"_ _3\"></span>ere is o<span class=\"_ _3\"></span>ne ea<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut ca<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>ed at 1<span class=\"_ _3\"></span>5 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro lin<span class=\"_ _3\"></span>ked to th<span class=\"_ _3\"></span>e retenti<span class=\"_ _3\"></span>on of th<span class=\"_ _3\"></span>e for<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>r sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers a<span class=\"_ _3\"></span>nd f<span class=\"_ _3\"></span>utu<span class=\"_ _3\"></span>re resu<span class=\"_ _3\"></span>lts fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch th<span class=\"_ _3\"></span>e fut<span class=\"_ _3\"></span>ure resu<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>s could n<span class=\"_ _3\"></span>ot b<span class=\"_ _3\"></span>e reli<span class=\"_ _3\"></span>abl<span class=\"_ _3\"></span>y es<span class=\"_ _3\"></span>ti-mated at a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e ear<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>out<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll f<span class=\"_ _3\"></span>low th<span class=\"_ _3\"></span>roug<span class=\"_ _3\"></span>h profi<span class=\"_ _3\"></span>t and<span class=\"_ _3\"></span> loss a<span class=\"_ _3\"></span>t mo<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of pay<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt over t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>arn<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>ut p<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>, wh<span class=\"_ _3\"></span>ich en<span class=\"_ _3\"></span>ds May 25<span class=\"_ _3\"></span>, 2026. Per e<span class=\"_ _3\"></span>nd 202<span class=\"_ _3\"></span>2, no p<span class=\"_ _3\"></span>aym<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s occur<span class=\"_ _3\"></span>red under this<span class=\"_ _0\"></span> earn<span class=\"_ _3\"></span>-out.20. Risk management - derivative financial instrumentsGe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>l ris<span class=\"_ _3\"></span>k fac<span class=\"_ _3\"></span>tor<span class=\"_ _3\"></span>s are de<span class=\"_ _3\"></span>scri<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>he di<span class=\"_ _3\"></span>recto<span class=\"_ _3\"></span>r\u2019s rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t \u201c<span class=\"_ _3\"></span>Ris<span class=\"_ _3\"></span>k F<span class=\"_ _0\"></span>actors<span class=\"_ _0\"></span>\u201d<span class=\"_ _0\"></span>. De<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are use<span class=\"_ _3\"></span>d to redu<span class=\"_ _3\"></span>ce th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sure to fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s in fore<span class=\"_ _3\"></span>ign e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ates an<span class=\"_ _3\"></span>d inte<span class=\"_ _3\"></span>rest rates<span class=\"_ _3\"></span>. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are sub<span class=\"_ _3\"></span>je<span class=\"_ _3\"></span>ct to th<span class=\"_ _3\"></span>e risk o<span class=\"_ _3\"></span>f mar<span class=\"_ _3\"></span>ket rates ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g subs<span class=\"_ _3\"></span>eq<span class=\"_ _3\"></span>ue<span class=\"_ _3\"></span>nt to acqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>ese ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>s are ge<span class=\"_ _3\"></span>ner<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ly of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et by op<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>ite ef<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e item be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ed.Foreign currency riskRecogniz<span class=\"_ _0\"></span>ed assets and liabilitiesBarco in<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>s forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ris<span class=\"_ _3\"></span>k on reco<span class=\"_ _3\"></span>gn<span class=\"_ _3\"></span>ized ass<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>nd lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es wh<span class=\"_ _3\"></span>en t<span class=\"_ _3\"></span>hey a<span class=\"_ _3\"></span>re den<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ated in a cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r tha<span class=\"_ _3\"></span>n the co<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>any<span class=\"_ _3\"></span>\u2019s loc<span class=\"_ _3\"></span>al cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy. Such r<span class=\"_ _3\"></span>isk<span class=\"_ _3\"></span>s may b<span class=\"_ _3\"></span>e nat<span class=\"_ _3\"></span>ura<span class=\"_ _3\"></span>lly cov<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>ered w<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>n a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tem at th<span class=\"_ _3\"></span>e ass<span class=\"_ _3\"></span>et sid<span class=\"_ _3\"></span>e (su<span class=\"_ _3\"></span>ch as a tra<span class=\"_ _3\"></span>de recei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>le o<span class=\"_ _3\"></span>r cash d<span class=\"_ _3\"></span>ep<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>) in a g<span class=\"_ _3\"></span>iven cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cy i<span class=\"_ _3\"></span>s matche<span class=\"_ _3\"></span>d wit<span class=\"_ _3\"></span>h a mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y ite<span class=\"_ _3\"></span>m at th<span class=\"_ _3\"></span>e liab<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y sid<span class=\"_ _3\"></span>e (such a<span class=\"_ _3\"></span>s a tra<span class=\"_ _3\"></span>de p<span class=\"_ _3\"></span>ayab<span class=\"_ _3\"></span>le or lo<span class=\"_ _3\"></span>an) in t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y<span class=\"_ _0\"></span>.Forward<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contracts a<span class=\"_ _0\"></span>nd selectivel<span class=\"_ _0\"></span>y option c<span class=\"_ _0\"></span>ontracts are use<span class=\"_ _3\"></span>d to man<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>e curren<span class=\"_ _3\"></span>cy r<span class=\"_ _3\"></span>isk a<span class=\"_ _3\"></span>risi<span class=\"_ _3\"></span>ng f<span class=\"_ _3\"></span>rom reco<span class=\"_ _3\"></span>gnized rec<span class=\"_ _0\"></span>eivables and pay<span class=\"_ _0\"></span>ab<span class=\"_ _3\"></span>les, whic<span class=\"_ _0\"></span>h are no<span class=\"_ _0\"></span>t naturally<span class=\"_ _0\"></span> hedge<span class=\"_ _3\"></span>d.Th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces o<span class=\"_ _3\"></span>n foreig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _1\"></span>y items are v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>ed at th<span class=\"_ _3\"></span>e rates of e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge p<span class=\"_ _3\"></span>reva<span class=\"_ _3\"></span>ili<span class=\"_ _3\"></span>ng at t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>nd of t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>ing<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts t<span class=\"_ _3\"></span>hat a<span class=\"_ _3\"></span>re used to re<span class=\"_ _3\"></span>duce the e<span class=\"_ _3\"></span>xp<span class=\"_ _3\"></span>osure of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se ba<span class=\"_ _3\"></span>lan<span class=\"_ _3\"></span>ces a<span class=\"_ _3\"></span>re rated in t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>ala<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span> at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue. B<span class=\"_ _3\"></span>oth ch<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ges i<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nces a<span class=\"_ _3\"></span>nd in fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re recogn<span class=\"_ _3\"></span>ized in th<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>come s<span class=\"_ _3\"></span>tate<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt.Forecasted<span class=\"_ _0\"></span> transactionsBarc<span class=\"_ _0\"></span>o selectively<span class=\"_ _0\"></span> designates<span class=\"_ _0\"></span> forward con<span class=\"_ _0\"></span>tract<span class=\"_ _3\"></span>s t<span class=\"_ _0\"></span>o for<span class=\"_ _0\"></span>ecasted sa<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. He<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e accou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g is a<span class=\"_ _3\"></span>pp<span class=\"_ _3\"></span>lie<span class=\"_ _3\"></span>d to the<span class=\"_ _3\"></span>se con<span class=\"_ _3\"></span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e ga<span class=\"_ _3\"></span>in or lo<span class=\"_ _3\"></span>ss o<span class=\"_ _3\"></span>n the h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent t<span class=\"_ _3\"></span>hat w<span class=\"_ _3\"></span>ill be d<span class=\"_ _3\"></span>eterm<span class=\"_ _3\"></span>ine<span class=\"_ _3\"></span>d as an e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>ive h<span class=\"_ _3\"></span>edg<span class=\"_ _3\"></span>e is reco<span class=\"_ _3\"></span>gnized d<span class=\"_ _3\"></span>irec<span class=\"_ _3\"></span>tly in comp<span class=\"_ _3\"></span>reh<span class=\"_ _3\"></span>ens<span class=\"_ _3\"></span>ive in<span class=\"_ _3\"></span>com<span class=\"_ _3\"></span>e. At 31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022, th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no f<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>ward c<span class=\"_ _0\"></span>ontracts outstanding<span class=\"_ _0\"></span> under hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _0\"></span> treatment<span class=\"_ _3\"></span>.Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to cu<span class=\"_ _3\"></span>rre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y fluc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>sSe<span class=\"_ _3\"></span>nsiti<span class=\"_ _3\"></span>vit<span class=\"_ _1\"></span>y to curren<span class=\"_ _3\"></span>cy f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>ns is m<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>ly rel<span class=\"_ _3\"></span>ated to th<span class=\"_ _3\"></span>e evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of a p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s (mai<span class=\"_ _3\"></span>nly U<span class=\"_ _3\"></span>SD an<span class=\"_ _3\"></span>d CNY<span class=\"_ _3\"></span>) ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro. T<span class=\"_ _3\"></span>his se<span class=\"_ _3\"></span>nsit<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y is ca<span class=\"_ _3\"></span>use<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e foll<span class=\"_ _0\"></span>owing fact<span class=\"_ _0\"></span>ors:\u2022 <span class=\"_ _119\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y m<span class=\"_ _3\"></span>one<span class=\"_ _3\"></span>tar<span class=\"_ _1\"></span>y items is imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ted by cur<span class=\"_ _3\"></span>renc<span class=\"_ _3\"></span>y fl<span class=\"_ _3\"></span>uc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ate mos<span class=\"_ _3\"></span>t of th<span class=\"_ _3\"></span>ese e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect<span class=\"_ _3\"></span>s in fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n curre<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, Barco use<span class=\"_ _3\"></span>s mo<span class=\"_ _3\"></span>net<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>tems an<span class=\"_ _3\"></span>d/or der<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>s des<span class=\"_ _3\"></span>crib<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>bove<span class=\"_ _3\"></span>, whi<span class=\"_ _3\"></span>ch are me<span class=\"_ _3\"></span>ant to of<span class=\"_ _3\"></span>fs<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e imp<span class=\"_ _3\"></span>act o<span class=\"_ _3\"></span>f such re<span class=\"_ _3\"></span>sult<span class=\"_ _3\"></span>s to a ma<span class=\"_ _3\"></span>jor e<span class=\"_ _3\"></span>xte<span class=\"_ _3\"></span>nt.\u2022 <span class=\"_ _141\"> </span>A<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pan<span class=\"_ _3\"></span>y has n<span class=\"_ _3\"></span>o cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>es in p<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>ce that a<span class=\"_ _3\"></span>im at he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reca<span class=\"_ _3\"></span>sted t<span class=\"_ _3\"></span>ran<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s, a si<span class=\"_ _3\"></span>mil<span class=\"_ _3\"></span>ar f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n in forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>renci<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>uld n<span class=\"_ _3\"></span>ot have a<span class=\"_ _3\"></span>ny ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>t on th<span class=\"_ _3\"></span>e eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y positi<span class=\"_ _3\"></span>on of Barco.\u2022 <span class=\"_ _24\"> </span>Profit m<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ins m<span class=\"_ _3\"></span>ay be n<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>vely af<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cted b<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>au<span class=\"_ _3\"></span>se an imp<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ant p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t of s<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span>s are rea<span class=\"_ _3\"></span>lized in fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cie<span class=\"_ _3\"></span>s, whi<span class=\"_ _3\"></span>le cos<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re incu<span class=\"_ _3\"></span>rred i<span class=\"_ _3\"></span>n a sm<span class=\"_ _3\"></span>alle<span class=\"_ _3\"></span>r pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t in th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e curre<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cies<span class=\"_ _3\"></span>. Ba<span class=\"_ _3\"></span>rco has d<span class=\"_ _3\"></span>one g<span class=\"_ _3\"></span>reat ef<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s t<span class=\"_ _3\"></span>hrou<span class=\"_ _3\"></span>gho<span class=\"_ _3\"></span>ut th<span class=\"_ _3\"></span>e yea<span class=\"_ _3\"></span>rs to inc<span class=\"_ _3\"></span>rease it<span class=\"_ _3\"></span>s na<span class=\"_ _3\"></span>tur<span class=\"_ _3\"></span>al h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>gin<span class=\"_ _3\"></span>g rat<span class=\"_ _3\"></span>io in US<span class=\"_ _3\"></span>D (be<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g its m<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>n forei<span class=\"_ _3\"></span>gn cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>cy in te<span class=\"_ _3\"></span>rms of s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>es) by in<span class=\"_ _3\"></span>creasin<span class=\"_ _3\"></span>g it<span class=\"_ _3\"></span>s op<span class=\"_ _3\"></span>er<span class=\"ls4 ws4\">-</span>atio<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>l cost<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d by p<span class=\"_ _3\"></span>urchas<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g mo<span class=\"_ _3\"></span>re comp<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s in t<span class=\"_ _3\"></span>his curre<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>y. Impac<span class=\"_ _3\"></span>t on a<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>usted EB<span class=\"_ _3\"></span>IT is cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>tly es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>mated at 20.0 mi<span class=\"_ _3\"></span>lli<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>uro wh<span class=\"_ _3\"></span>en th<span class=\"_ _3\"></span>e wei<span class=\"_ _3\"></span>ghted a<span class=\"_ _3\"></span>vera<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate of a for<span class=\"_ _0\"></span>eign curr<span class=\"_ _0\"></span>ency basket,<span class=\"_ _0\"></span> that has an<span class=\"_ _0\"></span> overall<span class=\"_ _0\"></span> overweight of<span class=\"_ _0\"></span> USD &amp; CNY, chang<span class=\"_ _3\"></span>es by 10% ver<span class=\"_ _3\"></span>sus t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>uro in a yea<span class=\"_ _3\"></span>r<span class=\"_ _0\"></span>. T<span class=\"_ _3\"></span>he overa<span class=\"_ _3\"></span>ll n<span class=\"_ _3\"></span>atur<span class=\"_ _3\"></span>al he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>e rat<span class=\"_ _3\"></span>io of fore<span class=\"_ _3\"></span>ign cu<span class=\"_ _3\"></span>rren<span class=\"_ _3\"></span>cies rea<span class=\"_ _3\"></span>che<span class=\"_ _3\"></span>d a leve<span class=\"_ _3\"></span>l of 71<span class=\"_ _3\"></span>% in 2022 (202<span class=\"_ _3\"></span>1: 73%<span class=\"_ _3\"></span>).\u2022<span class=\"ff4 ls29 wsb\"> <span class=\"_ _2a\"> </span>An<span class=\"_ _3\"></span>oth<span class=\"_ _3\"></span>er i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct i<span class=\"_ _3\"></span>s the f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t tha<span class=\"_ _3\"></span>t som<span class=\"_ _3\"></span>e of Ba<span class=\"_ _3\"></span>rco\u2019s compe<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span></span><span class=\"ff4\">-</span>tors a<span class=\"_ _3\"></span>re USD<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>ba<span class=\"_ _3\"></span>sed<span class=\"_ _3\"></span>. Whe<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ver th<span class=\"_ _3\"></span>e USD de<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s in va<span class=\"_ _3\"></span>lue aga<span class=\"_ _3\"></span>ins<span class=\"_ _3\"></span>t th<span class=\"_ _3\"></span>e euro, th<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>etito<span class=\"_ _3\"></span>rs have a wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de com<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>pet<span class=\"_ _3\"></span>itive a<span class=\"_ _3\"></span>dv<span class=\"_ _3\"></span>ant<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>e over Ba<span class=\"_ _3\"></span>rco. Thi<span class=\"_ _3\"></span>s imp<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>t on op<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>ng resul<span class=\"_ _0\"></span>t cannot be mea<span class=\"_ _0\"></span>sured r<span class=\"_ _0\"></span>eliably<span class=\"_ _0\"></span>.Interest rate riskBarco use<span class=\"_ _3\"></span>s foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g he<span class=\"_ _3\"></span>dg<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>nst<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts to m<span class=\"_ _3\"></span>ana<span class=\"_ _3\"></span>ge it<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>ter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate ris<span class=\"_ _3\"></span>k:Swap o<span class=\"_ _3\"></span>n out<span class=\"_ _3\"></span>sta<span class=\"_ _3\"></span>ndi<span class=\"_ _3\"></span>ng or a<span class=\"_ _3\"></span>ntic<span class=\"_ _3\"></span>ipate<span class=\"_ _3\"></span>d bo<span class=\"_ _3\"></span>rrowin<span class=\"_ _3\"></span>gBarco con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ed a s<span class=\"_ _3\"></span>eri<span class=\"_ _3\"></span>es of i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rate s<span class=\"_ _3\"></span>wap<span class=\"_ _3\"></span>s with a<span class=\"_ _3\"></span>n out<span class=\"ls4 ws4\">-</span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g not<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>nal a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt of 8<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>3 mi<span class=\"_ _3\"></span>llio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro by mea<span class=\"_ _3\"></span>ns of a par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ial h<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>ge fo<span class=\"_ _3\"></span>r the b<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>atera<span class=\"_ _3\"></span>l real e<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ate leasi<span class=\"_ _3\"></span>ng (cur<span class=\"_ _3\"></span>rentl<span class=\"_ _3\"></span>y out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng at 16.<span class=\"_ _3\"></span>0 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n eu<span class=\"_ _3\"></span>ro) for the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>ng of B<span class=\"_ _3\"></span>arco's HQ ca<span class=\"_ _3\"></span>mp<span class=\"_ _3\"></span>us st<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ing i<span class=\"_ _3\"></span>n 2016. T<span class=\"_ _3\"></span>his in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>ps the v<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>le intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te into a fixe<span class=\"_ _3\"></span>d 1<span class=\"_ _3\"></span>.76%. T<span class=\"_ _3\"></span>hes<span class=\"_ _3\"></span>e sw<span class=\"_ _3\"></span>aps a<span class=\"_ _3\"></span>re deter<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ed a<span class=\"_ _3\"></span>s an ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve hed<span class=\"_ _3\"></span>ge of o<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g or a<span class=\"_ _3\"></span>ntici<span class=\"_ _3\"></span>pated b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>rowin<span class=\"_ _3\"></span>gs an<span class=\"_ _3\"></span>d me<span class=\"_ _3\"></span>et th<span class=\"_ _3\"></span>e he<span class=\"_ _3\"></span>dgi<span class=\"_ _3\"></span>ng re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 39. Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es of th<span class=\"_ _3\"></span>e ef<span class=\"_ _3\"></span>fec<span class=\"_ _3\"></span>tive p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e hed<span class=\"_ _3\"></span>gi<span class=\"_ _3\"></span>ng in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent a<span class=\"_ _3\"></span>re th<span class=\"_ _3\"></span>erefore rec<span class=\"_ _0\"></span>ogniz<span class=\"_ _0\"></span>ed dir<span class=\"_ _0\"></span>ectly in<span class=\"_ _0\"></span> comprehen<span class=\"_ _0\"></span>sive inc<span class=\"_ _0\"></span>ome under hedge<span class=\"_ _0\"></span> acc<span class=\"_ _0\"></span>ounting treatment. Est<span class=\"_ _3\"></span>imate<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>nsi<span class=\"_ _3\"></span>tivi<span class=\"_ _3\"></span>ty to in<span class=\"_ _3\"></span>tere<span class=\"_ _3\"></span>st rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuati<span class=\"_ _3\"></span>onsCha<span class=\"_ _3\"></span>nge<span class=\"_ _3\"></span>s in in<span class=\"_ _3\"></span>teres<span class=\"_ _3\"></span>t rate are clo<span class=\"_ _3\"></span>sel<span class=\"_ _3\"></span>y follow<span class=\"_ _3\"></span>ed up by<span class=\"_ _0\"></span> management.With refe<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>ce to the fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>es ta<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>e be<span class=\"_ _3\"></span>low, just o<span class=\"_ _3\"></span>ver 60% of Barco\u2019s out<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>tan<span class=\"_ _3\"></span>di<span class=\"_ _3\"></span>ng lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt p<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>foli<span class=\"_ _3\"></span>o has a f<span class=\"_ _3\"></span>ixe<span class=\"_ _3\"></span>d inter<span class=\"ls4 ws4\">-</span>es<span class=\"_ _3\"></span>t rate cha<span class=\"_ _3\"></span>rac<span class=\"_ _3\"></span>ter, <span class=\"_ _0\"></span>w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch lim<span class=\"_ _3\"></span>its t<span class=\"_ _3\"></span>he e<span class=\"_ _3\"></span>xpo<span class=\"_ _3\"></span>sure of th<span class=\"_ _3\"></span>e com<span class=\"_ _3\"></span>pany to interes<span class=\"_ _3\"></span>t rate f<span class=\"_ _3\"></span>luc<span class=\"_ _3\"></span>tuat<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ns. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>is rat<span class=\"_ _3\"></span>io in<span class=\"_ _3\"></span>crease<span class=\"_ _3\"></span>s to 83% wh<span class=\"_ _3\"></span>en inc<span class=\"_ _3\"></span>lud<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>p ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s discl<span class=\"_ _3\"></span>ose<span class=\"_ _3\"></span>d ab<span class=\"_ _3\"></span>ove.Credit riskCre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on a<span class=\"_ _3\"></span>ccount<span class=\"_ _3\"></span>s re<span class=\"_ _3\"></span>cei<span class=\"_ _3\"></span>vab<span class=\"_ _3\"></span>leCredit e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uati<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>re pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>form<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n all cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers re<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>irin<span class=\"_ _3\"></span>g credit ov<span class=\"_ _3\"></span>er a cer<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ain a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk i<span class=\"_ _3\"></span>s mon<span class=\"_ _3\"></span>itored o<span class=\"_ _3\"></span>n a conti<span class=\"_ _3\"></span>nuo<span class=\"_ _3\"></span>us ba<span class=\"_ _3\"></span>sis<span class=\"_ _3\"></span>. In a nu<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er of c<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>s colla<span class=\"_ _3\"></span>tera<span class=\"_ _3\"></span>l is be<span class=\"_ _3\"></span>ing requ<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>ted b<span class=\"_ _3\"></span>efore a cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>k is accep<span class=\"_ _3\"></span>ted. S<span class=\"_ _3\"></span>pe<span class=\"_ _3\"></span>cif<span class=\"_ _3\"></span>ic tr<span class=\"_ _3\"></span>ad<span class=\"_ _3\"></span>e fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>ce ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s such a<span class=\"_ _3\"></span>s let<span class=\"_ _3\"></span>ters of cre<span class=\"_ _3\"></span>dit an<span class=\"_ _3\"></span>d bi<span class=\"_ _3\"></span>ll<span class=\"_ _3\"></span>s of excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e are regu<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>rly us<span class=\"_ _3\"></span>ed i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to min<span class=\"_ _3\"></span>imize th<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t risk<span class=\"_ _3\"></span>. In 2022, B<span class=\"_ _3\"></span>arco conti<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>ed to con<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>e credi<span class=\"_ _3\"></span>t insu<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nces i<span class=\"_ _3\"></span>n orde<span class=\"_ _3\"></span>r to cover cred<span class=\"_ _3\"></span>it ris<span class=\"_ _3\"></span>ks o<span class=\"_ _3\"></span>n sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic cus<span class=\"_ _3\"></span>tom<span class=\"_ _3\"></span>ers o<span class=\"_ _3\"></span>r la<span class=\"_ _3\"></span>rge con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tra<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>s on a c<span class=\"_ _3\"></span>ase b<span class=\"_ _3\"></span>y case b<span class=\"_ _3\"></span>asi<span class=\"_ _3\"></span>s. Cre<span class=\"_ _3\"></span>dit ris<span class=\"_ _3\"></span>k on li<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>d se<span class=\"_ _3\"></span>curit<span class=\"_ _3\"></span>ies a<span class=\"_ _3\"></span>nd sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _0\"></span>te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>sA po<span class=\"_ _3\"></span>lic<span class=\"_ _3\"></span>y de<span class=\"_ _3\"></span>fin<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g accept<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le cou<span class=\"_ _3\"></span>nter pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e max<span class=\"_ _3\"></span>im<span class=\"_ _3\"></span>um ris<span class=\"_ _3\"></span>k pe<span class=\"_ _3\"></span>r counter p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y i<span class=\"_ _3\"></span>s in pl<span class=\"_ _3\"></span>ace. S<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>re ma<span class=\"_ _3\"></span>de in m<span class=\"_ _3\"></span>arke<span class=\"_ _3\"></span>tab<span class=\"_ _3\"></span>le se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, c<span class=\"_ _3\"></span>ash h<span class=\"_ _3\"></span>old<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs or i<span class=\"_ _3\"></span>n fixe<span class=\"_ _3\"></span>d term deposits wit<span class=\"_ _0\"></span>h reputable banks.Fair values Set o<span class=\"_ _3\"></span>ut on t<span class=\"_ _3\"></span>he ri<span class=\"_ _3\"></span>ght is a<span class=\"_ _3\"></span>n over<span class=\"_ _1\"></span>view o<span class=\"_ _3\"></span>f the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>yi<span class=\"_ _3\"></span>ng a<span class=\"_ _3\"></span>mou<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s of the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p\u2019s fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t are sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>cial s<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>re ass<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>d to be a clos<span class=\"_ _3\"></span>e ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on of t<span class=\"_ _3\"></span>he fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e.2022<span class=\"_ _7b\"> </span>2021<span class=\"_ _70\"> </span>2020In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro Ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g amo<span class=\"_ _3\"></span>unt / Fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue (ap<span class=\"_ _3\"></span>prox<span class=\"_ _3\"></span>.)Financi<span class=\"_ _3\"></span>al assetsInv<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s at f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _1d6\"> </span>37<span class=\"_ _2\"></span>,337<span class=\"_ _4e\"> </span><span class=\"ls135 ws164\"> 46,680 <span class=\"_ _52\"> </span><span class=\"lsde wsfb\"> 8<span class=\"_ _3\"></span>6,<span class=\"_ _3\"></span>651 </span></span>T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _197\"> </span>194<span class=\"_ _3\"></span>,6<span class=\"_ _3\"></span>43<span class=\"_ _147\"> </span><span class=\"lsdd wsfa\"> 1<span class=\"_ _3\"></span>56<span class=\"_ _3\"></span>,97<span class=\"_ _1\"></span>7 <span class=\"_ _8b\"> </span><span class=\"lsdc wsf9\"> 14<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>8 </span></span>Other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _2af\"> </span>14,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>09<span class=\"_ _151\"> </span><span class=\"ls19a ws26f\"> 1<span class=\"_ _0\"></span>6,211<span class=\"_ _0\"></span> <span class=\"_ _3d\"> </span><span class=\"ls19c ws271\"> 1<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>8<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span> </span></span>   Loan<span class=\"_ _0\"></span> and other r<span class=\"_ _0\"></span>eceivables<span class=\"_ _91\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>1<span class=\"_ _4b\"> </span><span class=\"ls168 ws169\"> 15,152 <span class=\"_ _52\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>,420 </span></span>   Int<span class=\"_ _0\"></span>erest rec<span class=\"_ _0\"></span>eivable<span class=\"_ _2b0\"> </span><span class=\"ls4 ws4\">1<span class=\"_ _d2\"> </span> 4 <span class=\"_ _65\"> </span><span class=\"lsf7 ws114\"> 24<span class=\"_ _3\"></span> </span></span>   Currency<span class=\"_ _0\"></span> rate<span class=\"_ _0\"></span> s<span class=\"_ _3\"></span>wap<span class=\"_ _2b1\"> </span>2,187<span class=\"_ _94\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>55 <span class=\"_ _178\"> </span> 5,<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>45 </span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b2\"> </span>350<span class=\"_ _cc\"> </span><span class=\"ls4 ws4\"> -<span class=\"_ _d0\"> </span>-</span>Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r no<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>ren<span class=\"_ _3\"></span>t as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _2b3\"> </span><span class=\"ls36 ws40\">5,819<span class=\"_ _10c\"> </span></span> 6,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>49 <span class=\"_ _178\"> </span><span class=\"ls36 ws40\"> 5,870<span class=\"_ _0\"></span> </span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s<span class=\"_ _224\"> </span>1,6<span class=\"_ _3\"></span>51<span class=\"_ _94\"> </span><span class=\"lsed ws10a\"> 2,763 <span class=\"_ _ff\"> </span></span> 3,<span class=\"_ _3\"></span>175 Cash and<span class=\"_ _0\"></span> cash equivalents<span class=\"_ _164\"> </span>3<span class=\"_ _3\"></span>05<span class=\"_ _3\"></span>,91<span class=\"_ _3\"></span>5<span class=\"_ _4e\"> </span><span class=\"ls42 ws6f\"> 351,571 <span class=\"_ _4f\"> </span><span class=\"ls4 ws4\"> 2<span class=\"_ _3\"></span>35<span class=\"_ _3\"></span>,402 </span></span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _77\"> </span>5<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>74<span class=\"_ _4e\"> </span><span class=\"ls131 ws161\">581<span class=\"_ _3\"></span>,051 <span class=\"_ _98\"> </span><span class=\"ls4 ws4\"> 495<span class=\"_ _3\"></span>,026 </span></span>Financial<span class=\"_ _0\"></span> liabilitiesFinancial<span class=\"_ _0\"></span> debts<span class=\"_ _1f7\"> </span><span class=\"ls191 ws255\">1<span class=\"_ _0\"></span>6,000<span class=\"_ _50\"> </span><span class=\"lsfb ws118\"> 18,00<span class=\"_ _3\"></span>0 <span class=\"_ _f\"> </span></span> 20,<span class=\"_ _0\"></span>000 </span>   Flo<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g rate b<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>row<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs<span class=\"_ _106\"> </span><span class=\"lsde wsfb\">8,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>8<span class=\"_ _9c\"> </span><span class=\"lse3 ws100\"> 9,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>63 <span class=\"_ _52\"> </span></span> 10<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>38 </span>   Fix<span class=\"_ _3\"></span>ed r<span class=\"_ _3\"></span>ate bo<span class=\"_ _3\"></span>rro<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>s<span class=\"_ _1c8\"> </span>7,<span class=\"_ _1\"></span>7<span class=\"_ _3\"></span>1<span class=\"_ _4\"> </span>3<span class=\"_ _8c\"> </span><span class=\"lse7 ws104\"> 8<span class=\"_ _3\"></span>,43<span class=\"_ _3\"></span>8 <span class=\"_ _10c\"> </span><span class=\"lsf4 ws111\"> 9,<span class=\"_ _3\"></span>163 </span></span>Other long-term l<span class=\"_ _0\"></span>iabilities<span class=\"_ _1cd\"> </span>4<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>524<span class=\"_ _50\"> </span><span class=\"ls4 ws4\"> 48<span class=\"_ _3\"></span>,8<span class=\"_ _3\"></span>60 <span class=\"_ _147\"> </span><span class=\"lse7 ws104\"> 43<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>28<span class=\"_ _3\"></span>6 </span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s<span class=\"_ _277\"> </span>-<span class=\"_ _c0\"> </span><span class=\"ws28c\"> <span class=\"_ _7\"> </span>-   <span class=\"_ _16b\"> </span></span> 8<span class=\"_ _3\"></span>6 T<span class=\"_ _0\"></span>rade payables<span class=\"_ _196\"> </span><span class=\"lsdd wsfa\">1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>,92<span class=\"_ _3\"></span>0<span class=\"_ _1aa\"> </span> 1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>,97<span class=\"_ _3\"></span>9 <span class=\"_ _1aa\"> </span><span class=\"ls4 ws4\"> 70,<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>9 </span></span>Other curr<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _1fd\"> </span>5,41<span class=\"_ _3\"></span>2<span class=\"_ _9c\"> </span><span class=\"ls4 ws4\"> 5<span class=\"_ _3\"></span>,03<span class=\"_ _3\"></span>6 <span class=\"_ _3a\"> </span><span class=\"lsdd wsfa\"> 8,9<span class=\"_ _3\"></span>8<span class=\"_ _3\"></span>0 </span></span>   Ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t te<span class=\"_ _3\"></span>rm a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>ts p<span class=\"_ _3\"></span>aya<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>le<span class=\"_ _dc\"> </span><span class=\"ls89 wsa4\">750<span class=\"_ _54\"> </span></span> 1,<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>6 <span class=\"_ _6a\"> </span> 8<span class=\"_ _3\"></span>0    Dividends payable<span class=\"_ _11b\"> </span><span class=\"lsde wsfb\">2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>289<span class=\"_ _9c\"> </span> 2<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>289 <span class=\"_ _1a8\"> </span><span class=\"ls4 ws4\"> 2,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>90 </span></span>   Currency<span class=\"_ _0\"></span> rate<span class=\"_ _0\"></span> s<span class=\"_ _3\"></span>wap<span class=\"_ _205\"> </span>2,<span class=\"_ _3\"></span>373<span class=\"_ _76\"> </span><span class=\"lse7 ws104\"> 859 <span class=\"_ _178\"> </span><span class=\"ls4 ws4\"> 5<span class=\"_ _3\"></span>,52<span class=\"_ _3\"></span>9 </span></span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _1a6\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _8e\"> </span> 6<span class=\"_ _3\"></span>82 <span class=\"_ _4b\"> </span> 1<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>80 </span>To<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>l<span class=\"_ _48\"> </span>187<span class=\"_ _0\"></span>,856<span class=\"_ _b9\"> </span><span class=\"ls139 ws168\"> 185,87<span class=\"_ _0\"></span>5 <span class=\"_ _51\"> </span><span class=\"ls4 ws4\"> 142,6<span class=\"_ _3\"></span>50 </span></span>Th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue o<span class=\"_ _3\"></span>f the f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial a<span class=\"_ _3\"></span>sset<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s is def<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>ed as th<span class=\"_ _3\"></span>e am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>t at wh<span class=\"_ _3\"></span>ich th<span class=\"_ _3\"></span>e ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>nt cou<span class=\"_ _3\"></span>ld be e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge<span class=\"_ _3\"></span>d in a cur<span class=\"_ _3\"></span>rent tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>wee<span class=\"_ _3\"></span>n wi<span class=\"_ _3\"></span>llin<span class=\"_ _3\"></span>g pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s, o<span class=\"_ _3\"></span>the<span class=\"_ _3\"></span>r th<span class=\"_ _3\"></span>an in a forced or l<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>uid<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n sa<span class=\"_ _3\"></span>le. Th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g met<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>ds an<span class=\"_ _3\"></span>d ass<span class=\"_ _3\"></span>ump<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns we<span class=\"_ _3\"></span>re used to es<span class=\"_ _3\"></span>tim<span class=\"_ _3\"></span>ate the f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ues:\u2022 <span class=\"_ _24\"> </span>C<span class=\"_ _3\"></span>ash a<span class=\"_ _3\"></span>nd c<span class=\"_ _3\"></span>ash e<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>lent<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-te<span class=\"_ _3\"></span>rm inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>ts<span class=\"_ _3\"></span>, trade r<span class=\"_ _0\"></span>eceivables, trade pa<span class=\"_ _0\"></span>yables, and other c<span class=\"_ _0\"></span>urrent<span class=\"_ _0\"></span> liabili<span class=\"ls4 ws4\">-</span>tie<span class=\"_ _3\"></span>s ap<span class=\"_ _3\"></span>proxim<span class=\"_ _3\"></span>ate the<span class=\"_ _3\"></span>ir c<span class=\"_ _3\"></span>arr<span class=\"_ _1\"></span>yin<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts l<span class=\"_ _3\"></span>arg<span class=\"_ _3\"></span>ely d<span class=\"_ _3\"></span>ue to th<span class=\"_ _3\"></span>e shor<span class=\"_ _3\"></span>t-t<span class=\"_ _0\"></span>erm maturities of these instruments.\u2022 <span class=\"_ _141\"> </span>I<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s are me<span class=\"_ _3\"></span>asu<span class=\"_ _3\"></span>red at ma<span class=\"_ _3\"></span>rket p<span class=\"_ _3\"></span>rice. Fo<span class=\"_ _3\"></span>r inve<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ts that a<span class=\"_ _3\"></span>re pu<span class=\"_ _3\"></span>bli<span class=\"_ _3\"></span>cly q<span class=\"_ _3\"></span>uoted i<span class=\"_ _3\"></span>n an ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ve mar<span class=\"_ _3\"></span>ket<span class=\"_ _3\"></span>, the q<span class=\"_ _3\"></span>uote<span class=\"_ _3\"></span>d mar<span class=\"_ _3\"></span>ket pr<span class=\"_ _3\"></span>ice is th<span class=\"_ _3\"></span>e b<span class=\"_ _3\"></span>est m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure of th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e reme<span class=\"_ _3\"></span>asure<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue p<span class=\"_ _3\"></span>er 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022 ver<span class=\"_ _3\"></span>sus the c<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>ing a<span class=\"_ _3\"></span>mo<span class=\"_ _3\"></span>unt is ref<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>cted i<span class=\"_ _3\"></span>n oth<span class=\"_ _3\"></span>er com<span class=\"_ _3\"></span>pre<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>nsiv<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>co<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>.\u2022<span class=\"ff4 ls39 ws39\"> <span class=\"_ _141\"> </span>Lo<span class=\"_ _3\"></span>ng ter<span class=\"_ _3\"></span>m fixe<span class=\"_ _3\"></span>d rate a<span class=\"_ _3\"></span>nd v<span class=\"_ _3\"></span>ari<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le rate ot<span class=\"_ _3\"></span>her a<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ets a<span class=\"_ _3\"></span>re eva<span class=\"_ _3\"></span>l</span><span class=\"ff4\">-</span>uated by t<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p bas<span class=\"_ _3\"></span>ed on p<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>eters s<span class=\"_ _3\"></span>uch as i<span class=\"_ _3\"></span>nteres<span class=\"_ _3\"></span>t rates<span class=\"_ _3\"></span>, sp<span class=\"_ _3\"></span>ecif<span class=\"_ _3\"></span>ic co<span class=\"_ _3\"></span>untr<span class=\"_ _1\"></span>y risk f<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tors<span class=\"_ _3\"></span>, in<span class=\"_ _3\"></span>div<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ual cre<span class=\"_ _3\"></span>dit<span class=\"_ _3\"></span>wo<span class=\"_ _3\"></span>r<span class=\"ls4 ws4\">-</span>thi<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>ss of th<span class=\"_ _3\"></span>e cus<span class=\"_ _3\"></span>tome<span class=\"_ _3\"></span>r an<span class=\"_ _3\"></span>d the r<span class=\"_ _3\"></span>isk ch<span class=\"_ _3\"></span>ara<span class=\"_ _3\"></span>cter<span class=\"_ _3\"></span>ist<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>s of th<span class=\"_ _3\"></span>e fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ced p<span class=\"_ _3\"></span>roje<span class=\"_ _3\"></span>ct. B<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on t<span class=\"_ _3\"></span>his ev<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n, a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces are ma<span class=\"_ _3\"></span>de to accou<span class=\"_ _3\"></span>nt for th<span class=\"_ _3\"></span>e exp<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ted los<span class=\"_ _3\"></span>ses of t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>se recei<span class=\"_ _3\"></span>v<span class=\"ls4 ws4\">-</span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>. A<span class=\"_ _3\"></span>s at 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, th<span class=\"_ _3\"></span>e ca<span class=\"_ _3\"></span>rr<span class=\"_ _3\"></span>y<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g am<span class=\"_ _3\"></span>oun<span class=\"_ _3\"></span>ts of such re<span class=\"_ _3\"></span>ceiv<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>les<span class=\"_ _3\"></span>, net of a<span class=\"_ _3\"></span>llow<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ces, a<span class=\"_ _3\"></span>re ass<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ed no<span class=\"_ _3\"></span>t to be mat<span class=\"_ _0\"></span>erially differ<span class=\"_ _0\"></span>ent from<span class=\"_ _0\"></span> their calcula<span class=\"_ _0\"></span>ted fair<span class=\"_ _0\"></span> values.\u2022 <span class=\"_ _2a\"> </span>T<span class=\"_ _3\"></span>he f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e of un<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>oted in<span class=\"_ _3\"></span>str<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, loa<span class=\"_ _3\"></span>ns fro<span class=\"_ _3\"></span>m ban<span class=\"_ _3\"></span>ks an<span class=\"_ _3\"></span>d othe<span class=\"_ _3\"></span>r fi<span class=\"_ _3\"></span>na<span class=\"_ _3\"></span>ncia<span class=\"_ _3\"></span>l lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s, o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>iga<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns un<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>r fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce leas<span class=\"_ _3\"></span>es as we<span class=\"_ _3\"></span>ll as ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r no<span class=\"_ _3\"></span>n-<span class=\"_ _1\"></span>curren<span class=\"_ _3\"></span>t fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>ilit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s is es<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>mated by d<span class=\"_ _3\"></span>iscou<span class=\"_ _3\"></span>ntin<span class=\"_ _3\"></span>g fu<span class=\"_ _3\"></span>ture c<span class=\"_ _3\"></span>ash f<span class=\"_ _3\"></span>lows us<span class=\"_ _3\"></span>ing t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>es curr<span class=\"_ _0\"></span>ently a<span class=\"_ _0\"></span>vailable for<span class=\"_ _0\"></span> debt on si<span class=\"_ _0\"></span>milar terms,<span class=\"_ _0\"></span> credi<span class=\"_ _3\"></span>t risk a<span class=\"_ _3\"></span>nd re<span class=\"_ _3\"></span>mai<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>g ma<span class=\"_ _3\"></span>turi<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s. A<span class=\"_ _3\"></span>s of 31 D<span class=\"_ _3\"></span>ecem<span class=\"_ _3\"></span>b<span class=\"_ _3\"></span>er 2022, t<span class=\"_ _3\"></span>he ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>ve intere<span class=\"_ _3\"></span>st ra<span class=\"_ _3\"></span>te is not m<span class=\"_ _3\"></span>ateria<span class=\"_ _3\"></span>lly d<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>feren<span class=\"_ _3\"></span>t from t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>om<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>l interes<span class=\"_ _3\"></span>t ra<span class=\"_ _3\"></span>te of the f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nci<span class=\"_ _3\"></span>al ob<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>gat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>.\u2022 <span class=\"_ _141\"> </span>T<span class=\"_ _3\"></span>he G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p enter<span class=\"_ _3\"></span>s into de<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>vati<span class=\"_ _3\"></span>ve fi<span class=\"_ _3\"></span>nan<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ins<span class=\"_ _3\"></span>tr<span class=\"_ _3\"></span>um<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wit<span class=\"_ _3\"></span>h various c<span class=\"_ _0\"></span>ounterparties, principally<span class=\"_ _0\"></span> financial institut<span class=\"_ _0\"></span>ions with inves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent g<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>de cred<span class=\"_ _3\"></span>it rat<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>gs. D<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>ative<span class=\"_ _3\"></span>s va<span class=\"_ _3\"></span>lue<span class=\"_ _3\"></span>d usin<span class=\"_ _3\"></span>g valuation<span class=\"_ _0\"></span> techniques<span class=\"_ _0\"></span> with marke<span class=\"_ _0\"></span>t observable inputs are<span class=\"_ _0\"></span> mainly in<span class=\"_ _0\"></span>terest<span class=\"_ _0\"></span> rate (<span class=\"_ _0\"></span>cap/floor<span class=\"_ _0\"></span>) swaps and f<span class=\"_ _0\"></span>oreign ex<span class=\"_ _0\"></span>change forward<span class=\"_ _0\"></span> contracts. The mo<span class=\"_ _0\"></span>st frequen<span class=\"_ _0\"></span>tly applied<span class=\"_ _0\"></span> valuation<span class=\"_ _0\"></span> techn<span class=\"_ _3\"></span>iq<span class=\"_ _3\"></span>ues i<span class=\"_ _3\"></span>nclu<span class=\"_ _3\"></span>de fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>rd pr<span class=\"_ _3\"></span>icin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d sw<span class=\"_ _3\"></span>ap m<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>, usin<span class=\"_ _3\"></span>g presen<span class=\"_ _0\"></span>t value cal<span class=\"_ _0\"></span>culations.<span class=\"_ _0\"></span> The models incorporat<span class=\"_ _0\"></span>e variou<span class=\"_ _0\"></span>s inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>ing fo<span class=\"_ _3\"></span>reig<span class=\"_ _3\"></span>n exchan<span class=\"_ _3\"></span>ge s<span class=\"_ _3\"></span>pot a<span class=\"_ _3\"></span>nd fo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ward r<span class=\"_ _3\"></span>ates and int<span class=\"_ _0\"></span>erest ra<span class=\"_ _0\"></span>te c<span class=\"_ _0\"></span>ur<span class=\"_ _3\"></span>ves. Fai<span class=\"_ _0\"></span>r value hierarchyA<span class=\"_ _3\"></span>s at 31 Dece<span class=\"_ _3\"></span>mb<span class=\"_ _3\"></span>er 2022<span class=\"_ _3\"></span>, the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p he<span class=\"_ _3\"></span>ld th<span class=\"_ _3\"></span>e follow<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>cial<span class=\"_ _3\"></span> ins<span class=\"_ _3\"></span>tru<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s mea<span class=\"_ _3\"></span>sure<span class=\"_ _3\"></span>d at fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>As<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s m<span class=\"_ _3\"></span>eas<span class=\"_ _3\"></span>ure<span class=\"_ _3\"></span>d at f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1c6\"> </span>2,187<span class=\"_ _94\"> </span><span class=\"ls4 ws4\"> 1<span class=\"_ _3\"></span>,055 <span class=\"_ _8c\"> </span><span class=\"lsfe ws11b\">5<span class=\"_ _3\"></span>,3<span class=\"_ _3\"></span>45</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Investments<span class=\"_ _2b4\"> </span>37<span class=\"_ _2\"></span>,337<span class=\"_ _4e\"> </span> 46,680<span class=\"_ _0\"></span> <span class=\"_ _4e\"> </span><span class=\"lsde wsfb\"> 8<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>,651 </span>   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b5\"> </span>350<span class=\"_ _1dc\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _1dc\"> </span>-</span>Liabilities<span class=\"_ _0\"></span> measured at fa<span class=\"_ _0\"></span>ir valueFin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh p<span class=\"_ _3\"></span>rof<span class=\"_ _3\"></span>it o<span class=\"_ _3\"></span>r los<span class=\"_ _3\"></span>s   Forei<span class=\"_ _0\"></span>gn exc<span class=\"_ _0\"></span>hange contracts<span class=\"_ _0\"></span> - non-hedge<span class=\"_ _3\"></span>d<span class=\"_ _1a2\"> </span>2,<span class=\"_ _3\"></span>373<span class=\"_ _11\"> </span><span class=\"lse7 ws104\">859<span class=\"_ _70\"> </span><span class=\"ls131 ws161\">5,<span class=\"_ _3\"></span>529</span></span>Fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al li<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es a<span class=\"_ _3\"></span>t fa<span class=\"_ _3\"></span>ir v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e th<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>gh e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y   Int<span class=\"_ _0\"></span>erest rat<span class=\"_ _0\"></span>e swap<span class=\"_ _2b6\"> </span>-<span class=\"_ _6a\"> </span><span class=\"lsfe ws11b\">6<span class=\"_ _3\"></span>82<span class=\"_ _10\"> </span><span class=\"lsfb ws118\">1,0<span class=\"_ _3\"></span>80</span></span>Th<span class=\"_ _3\"></span>e G<span class=\"_ _3\"></span>roup us<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>e follo<span class=\"_ _3\"></span>win<span class=\"_ _3\"></span>g hi<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>rchy for dete<span class=\"_ _3\"></span>rmi<span class=\"_ _3\"></span>nin<span class=\"_ _3\"></span>g an<span class=\"_ _3\"></span>d discl<span class=\"_ _3\"></span>osin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lue of f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>anci<span class=\"_ _3\"></span>al in<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>rum<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s by v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n tec<span class=\"_ _0\"></span>hnique:Leve<span class=\"_ _3\"></span>l 1: <span class=\"ff4\">qu<span class=\"_ _3\"></span>oted (una<span class=\"_ _3\"></span>dj<span class=\"_ _3\"></span>uste<span class=\"_ _3\"></span>d) pr<span class=\"_ _3\"></span>ices in a<span class=\"_ _3\"></span>ct<span class=\"_ _3\"></span>ive ma<span class=\"_ _3\"></span>rket<span class=\"_ _3\"></span>s for i<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>n<span class=\"ls4 ws4\">-</span></span>tic<span class=\"_ _3\"></span>al as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>r liab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s;Leve<span class=\"_ _3\"></span>l 2: othe<span class=\"_ _3\"></span>r techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es fo<span class=\"_ _3\"></span>r whi<span class=\"_ _3\"></span>ch all i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>uts w<span class=\"_ _3\"></span>hi<span class=\"_ _3\"></span>ch have a sig<span class=\"_ _3\"></span>nif<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>ant ef<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n the re<span class=\"_ _3\"></span>corde<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e are obs<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le, either d<span class=\"_ _0\"></span>irectly<span class=\"_ _0\"></span> or indirectl<span class=\"_ _0\"></span>y;Le<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>l 3:<span class=\"_ _3\"></span><span class=\"ff4 ls4 wse\"> techn<span class=\"_ _3\"></span>iqu<span class=\"_ _3\"></span>es th<span class=\"_ _3\"></span>at use i<span class=\"_ _3\"></span>np<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>s havi<span class=\"_ _3\"></span>ng a s<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>ifi<span class=\"_ _3\"></span>can<span class=\"_ _3\"></span>t ef<span class=\"_ _3\"></span>fect </span>on th<span class=\"_ _3\"></span>e record<span class=\"_ _3\"></span>ed f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e tha<span class=\"_ _3\"></span>t are not b<span class=\"_ _3\"></span>ase<span class=\"_ _3\"></span>d on o<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>ble market<span class=\"_ _0\"></span> data.All f<span class=\"_ _3\"></span>ai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ues m<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>d in th<span class=\"_ _3\"></span>e ab<span class=\"_ _3\"></span>ove ta<span class=\"_ _3\"></span>ble re<span class=\"_ _3\"></span>late to Level 2, except fo<span class=\"_ _3\"></span>r the i<span class=\"_ _3\"></span>nves<span class=\"_ _3\"></span>tm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s wh<span class=\"_ _3\"></span>ich we<span class=\"_ _3\"></span>re base<span class=\"_ _3\"></span>d on le<span class=\"_ _3\"></span>vel 1 inp<span class=\"_ _3\"></span>ut<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es as<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>ciated w<span class=\"_ _3\"></span>ith pu<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>le n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>cont<span class=\"_ _3\"></span>roll<span class=\"_ _3\"></span>ing interes<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s are in t<span class=\"_ _3\"></span>he IFR<span class=\"_ _3\"></span>S fai<span class=\"_ _3\"></span>r val<span class=\"_ _3\"></span>ue hi<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>archy leve<span class=\"_ _3\"></span>l 3, i.<span class=\"_ _3\"></span>e. on<span class=\"_ _3\"></span>e or more s<span class=\"_ _0\"></span>ignificant inputs are<span class=\"_ _0\"></span> not based on<span class=\"_ _0\"></span> obser<span class=\"_ _3\"></span>vable mark<span class=\"_ _0\"></span>et dat<span class=\"_ _3\"></span>a (see n<span class=\"_ _3\"></span>ote 15).Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ng p<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>d en<span class=\"_ _3\"></span>din<span class=\"_ _3\"></span>g 31 De<span class=\"_ _3\"></span>cemb<span class=\"_ _3\"></span>er 202<span class=\"_ _3\"></span>2, the<span class=\"_ _3\"></span>re were n<span class=\"_ _3\"></span>o tra<span class=\"_ _3\"></span>nsfe<span class=\"_ _3\"></span>rs b<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>we<span class=\"_ _3\"></span>en Leve<span class=\"_ _3\"></span>l 1 and Le<span class=\"_ _3\"></span>vel 2 f<span class=\"_ _3\"></span>air v<span class=\"_ _3\"></span>alu<span class=\"_ _3\"></span>e measur<span class=\"_ _0\"></span>ements<span class=\"_ _3\"></span>.Capital ManagementMan<span class=\"_ _3\"></span>ag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent e<span class=\"_ _3\"></span>val<span class=\"_ _3\"></span>uates it<span class=\"_ _3\"></span>s ca<span class=\"_ _3\"></span>pit<span class=\"_ _3\"></span>al n<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>ds ba<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span>d on fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng da<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a:In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _1bb\"> </span>No<span class=\"_ _3\"></span>te<span class=\"_ _70\"> </span><span class=\"ls198 ws26e\">202<span class=\"_ _3\"></span>2<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020</span>Net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ash / (<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>bt)<span class=\"_ _1bb\"> </span><span class=\"lsdc wsf9\">14<span class=\"_ _52\"> </span>2<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>4,<span class=\"_ _3\"></span>014<span class=\"_ _1aa\"> </span><span class=\"lsed ws10a\">309,750<span class=\"_ _50\"> </span></span>193<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>27</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _2b7\"> </span>7<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>81<span class=\"_ _50\"> </span><span class=\"lsdc wsf9\">73<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>814<span class=\"_ _3d\"> </span><span class=\"ls19c ws271\">6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>7</span></span>% Net f<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ci<span class=\"_ _3\"></span>al c<span class=\"_ _3\"></span>ash (<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>bt) / Eq<span class=\"_ _3\"></span>ui<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y<span class=\"_ _6b\"> </span>33<span class=\"_ _3\"></span>.9%<span class=\"_ _40\"> </span><span class=\"lsf0 ws10d\">42<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>2%<span class=\"_ _255\"> </span><span class=\"ls19c ws271\">2<span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>%</span></span>In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _72\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>2021<span class=\"_ _70\"> </span>2020</span>Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _2b7\"> </span>7<span class=\"_ _3\"></span>78<span class=\"_ _3\"></span>,9<span class=\"_ _3\"></span>81<span class=\"_ _50\"> </span><span class=\"lsdc wsf9\">73<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>814<span class=\"_ _3d\"> </span><span class=\"ls19c ws271\">6<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _1\"></span>7</span></span>T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>al e<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _fa\"> </span>1<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span>1<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>7,<span class=\"_ _3\"></span>4<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>5<span class=\"_ _4f\"> </span><span class=\"lsf7 ws114\">1<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>,<span class=\"_ _3\"></span>24<span class=\"_ _3\"></span>9<span class=\"_ _98\"> </span><span class=\"lsfb ws118\">1,018<span class=\"_ _3\"></span>,203</span></span>% Equ<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y / T<span class=\"_ _0\"></span>ot<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>l eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>nd l<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>lit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _22c\"> </span>6<span class=\"_ _1\"></span>7.<span class=\"_ _3\"></span>9<span class=\"_ _1\"></span>%<span class=\"_ _43\"> </span><span class=\"ls106 ws123\">66<span class=\"_ _3\"></span>.<span class=\"_ _3\"></span>5%<span class=\"_ _94\"> </span>6<span class=\"_ _3\"></span>8.<span class=\"_ _3\"></span>5%</span>In 2022, t<span class=\"_ _3\"></span>he n<span class=\"_ _3\"></span>et ca<span class=\"_ _3\"></span>sh po<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on e<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>ed at a leve<span class=\"_ _3\"></span>l of 26<span class=\"_ _3\"></span>4 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>red to 309.<span class=\"_ _3\"></span>8 mil<span class=\"_ _3\"></span>lio<span class=\"_ _3\"></span>n euro as p<span class=\"_ _3\"></span>er e<span class=\"_ _3\"></span>nd o<span class=\"_ _3\"></span>f 2021<span class=\"_ _3\"></span>. We refer to note 14 for th<span class=\"_ _3\"></span>e det<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>s o<span class=\"_ _3\"></span>n the m<span class=\"_ _3\"></span>ovem<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t.Th<span class=\"_ _3\"></span>e so<span class=\"_ _3\"></span>lven<span class=\"_ _3\"></span>cy p<span class=\"_ _3\"></span>osit<span class=\"_ _3\"></span>ion a<span class=\"_ _3\"></span>nd ot<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r curren<span class=\"_ _3\"></span>t rati<span class=\"_ _3\"></span>os cont<span class=\"_ _3\"></span>inu<span class=\"_ _3\"></span>e to con<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>ate at hea<span class=\"_ _3\"></span>lthy le<span class=\"_ _3\"></span>vel<span class=\"_ _3\"></span>s. T<span class=\"_ _0\"></span>o<span class=\"_ _3\"></span>get<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r wit<span class=\"_ _3\"></span>h the e<span class=\"_ _3\"></span>xis<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted credit f<span class=\"_ _3\"></span>aci<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, ma<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>em<span class=\"_ _3\"></span>ent co<span class=\"_ _3\"></span>nsid<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s tha<span class=\"_ _3\"></span>t it has s<span class=\"_ _3\"></span>ecure<span class=\"_ _3\"></span>d a hea<span class=\"_ _3\"></span>lthy li<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>idit<span class=\"_ _1\"></span>y profi<span class=\"_ _3\"></span>le an<span class=\"_ _3\"></span>d st<span class=\"_ _3\"></span>rong c<span class=\"_ _3\"></span>ap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>l bas<span class=\"_ _3\"></span>e for th<span class=\"_ _3\"></span>e fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r deve<span class=\"_ _3\"></span>lop<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e gro<span class=\"_ _3\"></span>up.Changes in liabilities arising from financing activitiesNon-cash c<span class=\"_ _0\"></span>hangesIFR<span class=\"_ _3\"></span>S 16 <span class=\"_ _21\"></span> Fore<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>n excha<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>e In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro1 January 2022<span class=\"_ _fe\"> </span><span class=\"ls4 ws4\">C<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h fl<span class=\"_ _3\"></span>ows</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _3\"></span>s<span class=\"_ _5c\"> </span><span class=\"ls4 ws4\">A<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>sit<span class=\"_ _3\"></span>ion / s<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e</span>movemen<span class=\"_ _0\"></span>t<span class=\"_ _e9\"> </span><span class=\"ls4 ws4\">31 De<span class=\"_ _3\"></span>cem<span class=\"_ _3\"></span>be<span class=\"_ _3\"></span>r 2022</span>Long-<span class=\"_ _0\"></span>term<span class=\"_ _0\"></span> debtsLong-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b8\"> </span><span class=\"ff5 ls10a ws127\">16,<span class=\"_ _0\"></span>000<span class=\"_ _bc\"> </span><span class=\"ff4 lsed ws10a\">-2,173<span class=\"_ _90\"> </span><span class=\"ls4 ws4\">-<span class=\"_ _8f\"> </span></span>172<span class=\"_ _d8\"> </span><span class=\"ls4 ws4\">2<span class=\"_ _e1\"> </span></span></span>1<span class=\"_ _0\"></span>4,000</span>Long-term lease liabilities<span class=\"_ _2a0\"> </span><span class=\"ff5 ls3c ws48\">18,<span class=\"_ _3\"></span>366<span class=\"_ _25c\"> </span></span>-10,<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>16<span class=\"_ _7e\"> </span>1<span class=\"_ _0\"></span>0,134<span class=\"_ _b3\"> </span>-<span class=\"_ _144\"> </span><span class=\"lsde wsfb\">51<span class=\"_ _bc\"> </span><span class=\"ff5 lsfb ws118\">18,<span class=\"_ _3\"></span>335</span></span>Short<span class=\"_ _0\"></span>-ter<span class=\"_ _0\"></span>m debtsShort-term li<span class=\"_ _0\"></span>abilities<span class=\"_ _2b9\"> </span><span class=\"ff5 ls10a ws127\">2,000<span class=\"_ _b3\"> </span></span><span class=\"ls4 ws4\">-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _c0\"> </span><span class=\"ff5 ls10a ws127\">2,000</span></span>Sh<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t-<span class=\"_ _3\"></span>ter<span class=\"_ _3\"></span>m lea<span class=\"_ _3\"></span>se l<span class=\"_ _3\"></span>iab<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s<span class=\"_ _2ba\"> </span><span class=\"ff5 ls3c ws48\">8,218<span class=\"_ _d6\"> </span></span><span class=\"lsed ws10a\">999<span class=\"_ _90\"> </span></span>-<span class=\"_ _cb\"> </span>-<span class=\"_ _90\"> </span>-<span class=\"_ _d0\"> </span><span class=\"ff5 ls3c ws48\">9,217</span>T<span class=\"_ _0\"></span>otal liabili<span class=\"_ _0\"></span>ties from fi<span class=\"_ _0\"></span>nancing activities<span class=\"_ _3f\"> </span>44,585<span class=\"_ _65\"> </span>-1<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _3\"></span>1<span class=\"_ _78\"> </span><span class=\"lse6 ws103\">10,<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>4<span class=\"_ _8d\"> </span></span>172<span class=\"_ _1ef\"> </span><span class=\"ls89 wsa4\">53<span class=\"_ _bc\"> </span><span class=\"lsfb ws118\">43,552</span></span>Th<span class=\"_ _3\"></span>e lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-te<span class=\"_ _3\"></span>rm lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es an<span class=\"_ _3\"></span>d lea<span class=\"_ _3\"></span>se lia<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>liti<span class=\"_ _3\"></span>es are to<span class=\"_ _3\"></span>geth<span class=\"_ _3\"></span>er t<span class=\"_ _3\"></span>he lon<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s as sh<span class=\"_ _3\"></span>own i<span class=\"_ _3\"></span>n the b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et. T<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m lia<span class=\"_ _3\"></span>bil<span class=\"_ _3\"></span>itie<span class=\"_ _3\"></span>s are th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l of cur<span class=\"_ _3\"></span>rent po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>on of lo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>term d<span class=\"_ _3\"></span>ebt<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d sho<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t-ter<span class=\"_ _3\"></span>m de<span class=\"_ _3\"></span>bt<span class=\"_ _3\"></span>s, as s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>n in th<span class=\"_ _3\"></span>e ba<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span>nce sh<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>.21. Rights and commitments not reflected in the balance sheetIn th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _22d\"> </span>Note<span class=\"_ _6e\"> </span><span class=\"ls198 ws26e\">2022<span class=\"_ _60\"> </span>202<span class=\"_ _3\"></span>1<span class=\"_ _255\"> </span>2020</span>Guarantees<span class=\"_ _0\"></span> given to<span class=\"_ _0\"></span> third parties<span class=\"_ _23a\"> </span>(a)<span class=\"_ _255\"> </span>3,594<span class=\"_ _6e\"> </span>3<span class=\"_ _1\"></span>,<span class=\"_ _3\"></span>474<span class=\"_ _8c\"> </span><span class=\"ls4 ws28c\"> <span class=\"_ _8\"> </span>3,<span class=\"_ _3\"></span>85<span class=\"_ _3\"></span>0    </span>Mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tga<span class=\"_ _3\"></span>ge o<span class=\"_ _3\"></span>bl<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>ati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s gi<span class=\"_ _3\"></span>ven a<span class=\"_ _3\"></span>s se<span class=\"_ _3\"></span>cur<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y<span class=\"_ _2bb\"> </span>(b)<span class=\"_ _46\"> </span>30<span class=\"_ _0\"></span>,000<span class=\"_ _3d\"> </span>30,000<span class=\"_ _1aa\"> </span><span class=\"ws28d\"> <span class=\"_ _8\"> </span>30,<span class=\"_ _0\"></span>000    </span>   Bo<span class=\"_ _3\"></span>ok v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ue of t<span class=\"_ _3\"></span>he re<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span>va<span class=\"_ _3\"></span>nt as<span class=\"_ _3\"></span>set<span class=\"_ _3\"></span>s<span class=\"_ _22c\"> </span>29,<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>39<span class=\"_ _1a8\"> </span><span class=\"ls138 ws167\">33<span class=\"_ _3\"></span>,029<span class=\"_ _46\"> </span></span><span class=\"ws28c\"> <span class=\"_ _8\"> </span>36<span class=\"_ _3\"></span>,5<span class=\"_ _3\"></span>27    </span>(a) <span class=\"_ _1\"></span>G<span class=\"_ _3\"></span>uarant<span class=\"_ _0\"></span>ees given t<span class=\"_ _0\"></span>o third<span class=\"_ _0\"></span> par<span class=\"_ _3\"></span>ties mainly<span class=\"_ _0\"></span> relate<span class=\"_ _0\"></span> to guaran<span class=\"_ _0\"></span>tees given<span class=\"_ _0\"></span> to cu<span class=\"_ _0\"></span>stomers f<span class=\"_ _0\"></span>or ongoing projects, guarant<span class=\"_ _0\"></span>ees given<span class=\"_ _0\"></span> to sup<span class=\"_ _3\"></span>pli<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>s for inve<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt proj<span class=\"_ _3\"></span>ec<span class=\"_ _3\"></span>ts a<span class=\"_ _3\"></span>nd to au<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ie<span class=\"_ _3\"></span>s for comm<span class=\"_ _3\"></span>itm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s rel<span class=\"_ _3\"></span>ated to VA<span class=\"_ _2\"></span>T, dutie<span class=\"_ _3\"></span>s, etc. 22. Related party transactions Du<span class=\"_ _3\"></span>rin<span class=\"_ _3\"></span>g th<span class=\"_ _3\"></span>e ordi<span class=\"_ _3\"></span>nar<span class=\"_ _1\"></span>y cours<span class=\"_ _3\"></span>e of th<span class=\"_ _3\"></span>eir b<span class=\"_ _3\"></span>usi<span class=\"_ _3\"></span>nes<span class=\"_ _3\"></span>s con<span class=\"_ _3\"></span>duc<span class=\"_ _3\"></span>t Ba<span class=\"_ _3\"></span>rco af<span class=\"_ _3\"></span>fi<span class=\"_ _3\"></span>liate<span class=\"_ _3\"></span>s wil<span class=\"_ _3\"></span>l al<span class=\"_ _3\"></span>so en<span class=\"_ _3\"></span>ter into rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>is includes<span class=\"_ _0\"></span> both service transactions<span class=\"_ _0\"></span> and financing arrangements. Rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>y tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>re gen<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>all<span class=\"_ _3\"></span>y und<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ake<span class=\"_ _3\"></span>n on an a<span class=\"_ _3\"></span>t arm\u2019s le<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>th bas<span class=\"_ _3\"></span>is bas<span class=\"_ _3\"></span>ed o<span class=\"_ _3\"></span>n Barco\u2019s wor<span class=\"_ _3\"></span>ldw<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>e tra<span class=\"_ _3\"></span>nsfe<span class=\"_ _3\"></span>r pri<span class=\"_ _3\"></span>cin<span class=\"_ _3\"></span>g po<span class=\"_ _3\"></span>lici<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>. Wh<span class=\"_ _3\"></span>ere ap<span class=\"_ _3\"></span>pro<span class=\"_ _3\"></span>pri<span class=\"_ _3\"></span>ate, th<span class=\"_ _3\"></span>e arm\u2019s le<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span>th nat<span class=\"_ _3\"></span>ure of tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>ns is tes<span class=\"_ _3\"></span>ted ag<span class=\"_ _3\"></span>ain<span class=\"_ _3\"></span>st b<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>chma<span class=\"_ _3\"></span>rk<span class=\"_ _3\"></span>ing s<span class=\"_ _3\"></span>earche<span class=\"_ _3\"></span>s an<span class=\"_ _3\"></span>d th<span class=\"_ _3\"></span>e result<span class=\"_ _3\"></span>s the<span class=\"_ _3\"></span>reof a<span class=\"_ _3\"></span>re sha<span class=\"_ _3\"></span>red wi<span class=\"_ _3\"></span>th ta<span class=\"_ _3\"></span>x aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>riti<span class=\"_ _3\"></span>es wo<span class=\"_ _3\"></span>rl<span class=\"_ _3\"></span>dwi<span class=\"_ _3\"></span>de in l<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>e with local transf<span class=\"_ _0\"></span>er pricing r<span class=\"_ _0\"></span>equirements and<span class=\"_ _0\"></span> regulations. Barco com<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>s n<span class=\"_ _3\"></span>ot to use ta<span class=\"_ _3\"></span>x st<span class=\"_ _3\"></span>ru<span class=\"_ _3\"></span>ctu<span class=\"_ _3\"></span>res wi<span class=\"_ _3\"></span>tho<span class=\"_ _3\"></span>ut eco<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>mic subs<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>nce o<span class=\"_ _3\"></span>r make u<span class=\"_ _3\"></span>se of ju<span class=\"_ _3\"></span>ris<span class=\"_ _3\"></span>dic<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>ns for t<span class=\"_ _3\"></span>he s<span class=\"_ _3\"></span>ole p<span class=\"_ _3\"></span>urp<span class=\"_ _3\"></span>ose o<span class=\"_ _3\"></span>f ta<span class=\"_ _3\"></span>x avoid<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce. Barco NV, as the u<span class=\"_ _3\"></span>ltim<span class=\"_ _3\"></span>ate pare<span class=\"_ _3\"></span>nt ent<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>y of th<span class=\"_ _3\"></span>e Barco gro<span class=\"_ _3\"></span>up, sub<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>s th<span class=\"_ _3\"></span>e tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>fer pr<span class=\"_ _3\"></span>ici<span class=\"_ _3\"></span>ng Cou<span class=\"_ _3\"></span>ntr<span class=\"_ _1\"></span>y-<span class=\"_ _3\"></span>by<span class=\"_ _3\"></span>-<span class=\"_ _3\"></span>Cou<span class=\"_ _3\"></span>ntr<span class=\"_ _1\"></span>y (CbC) re<span class=\"_ _3\"></span>por<span class=\"_ _3\"></span>t i<span class=\"_ _3\"></span>n Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um, t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>reby dis<span class=\"_ _3\"></span>closin<span class=\"_ _3\"></span>g ta<span class=\"_ _3\"></span>xes p<span class=\"_ _3\"></span>aid wo<span class=\"_ _3\"></span>rld<span class=\"_ _3\"></span><span class=\"ws4\">-</span>wid<span class=\"_ _3\"></span>e on a j<span class=\"_ _3\"></span>uri<span class=\"_ _3\"></span>sdi<span class=\"_ _3\"></span>cti<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>al leve<span class=\"_ _3\"></span>l to the B<span class=\"_ _3\"></span>el<span class=\"_ _3\"></span>gia<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x auth<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>iti<span class=\"_ _3\"></span>es o<span class=\"_ _3\"></span>n an an<span class=\"_ _3\"></span>nu<span class=\"_ _3\"></span>al b<span class=\"_ _3\"></span>asis<span class=\"_ _3\"></span>. Fol<span class=\"_ _3\"></span>lowi<span class=\"_ _3\"></span>ng th<span class=\"_ _3\"></span>e im<span class=\"_ _3\"></span>ple<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nta<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n of th<span class=\"_ _3\"></span>e CbC repo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tin<span class=\"_ _3\"></span>g in B<span class=\"_ _3\"></span>elg<span class=\"_ _3\"></span>ian l<span class=\"_ _3\"></span>egi<span class=\"_ _3\"></span>slat<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>, sub<span class=\"_ _3\"></span>mit<span class=\"_ _3\"></span>ted Cb<span class=\"_ _3\"></span>C rep<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>s wi<span class=\"_ _3\"></span>ll be s<span class=\"_ _3\"></span>hare<span class=\"_ _3\"></span>d by th<span class=\"_ _3\"></span>e Be<span class=\"_ _3\"></span>lgia<span class=\"_ _3\"></span>n ta<span class=\"_ _3\"></span>x aut<span class=\"_ _3\"></span>ho<span class=\"_ _3\"></span>rit<span class=\"_ _3\"></span>ies w<span class=\"_ _3\"></span>ith t<span class=\"_ _3\"></span>ax a<span class=\"_ _3\"></span>uth<span class=\"_ _3\"></span>ori<span class=\"_ _3\"></span>tie<span class=\"_ _3\"></span>s worldwide.T<span class=\"_ _2\"></span>ransactions between the Compan<span class=\"_ _0\"></span>y and its subsidi<span class=\"_ _0\"></span>aries, which are rel<span class=\"_ _3\"></span>ated pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>, have b<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>n eli<span class=\"_ _3\"></span>min<span class=\"_ _3\"></span>ated in t<span class=\"_ _3\"></span>he co<span class=\"_ _3\"></span>nso<span class=\"_ _3\"></span>lid<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span>tio<span class=\"_ _3\"></span>n an<span class=\"_ _3\"></span>d are acco<span class=\"_ _3\"></span>rdin<span class=\"_ _3\"></span>gly n<span class=\"_ _3\"></span>ot dis<span class=\"_ _3\"></span>close<span class=\"_ _3\"></span>d in t<span class=\"_ _3\"></span>his n<span class=\"_ _3\"></span>ote. No<span class=\"_ _3\"></span>ne of the re<span class=\"_ _3\"></span>late<span class=\"_ _3\"></span>d par<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ies h<span class=\"_ _3\"></span>ave en<span class=\"_ _3\"></span>tered into a<span class=\"_ _3\"></span>ny oth<span class=\"_ _3\"></span>er tr<span class=\"_ _3\"></span>ans<span class=\"_ _3\"></span>ac<span class=\"_ _3\"></span>ti<span class=\"_ _3\"></span>ons wit<span class=\"_ _3\"></span>h the G<span class=\"_ _3\"></span>rou<span class=\"_ _3\"></span>p that m<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>t the re<span class=\"_ _3\"></span>qui<span class=\"_ _3\"></span>rem<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s of IA<span class=\"_ _3\"></span>S 24, \u2018Re<span class=\"_ _3\"></span>lated par<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>y disclo<span class=\"_ _3\"></span>sures\u2019. W<span class=\"_ _0\"></span>e refe<span class=\"_ _3\"></span>r to note 1 'Con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted comp<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ies' for an ove<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>v<span class=\"_ _3\"></span>iew of t<span class=\"_ _3\"></span>he con<span class=\"_ _3\"></span>sol<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>ted an<span class=\"_ _3\"></span>d eq<span class=\"_ _3\"></span>uit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ccounted companies.At th<span class=\"_ _3\"></span>e ann<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>l sha<span class=\"_ _3\"></span>reho<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>ers m<span class=\"_ _3\"></span>eet<span class=\"_ _3\"></span>in<span class=\"_ _3\"></span>g of 29 Ap<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>l 2021<span class=\"_ _3\"></span>, PWC Bedrijfsr<span class=\"_ _0\"></span>evisoren b<span class=\"_ _0\"></span>v,<span class=\"_ _0\"></span> Culliganlaan 5,<span class=\"_ _0\"></span> 1830 Diegem, wa<span class=\"_ _0\"></span>s ap<span class=\"_ _3\"></span>poi<span class=\"_ _3\"></span>nted as s<span class=\"_ _3\"></span>tat<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>itor of th<span class=\"_ _3\"></span>e comp<span class=\"_ _3\"></span>any fo<span class=\"_ _3\"></span>r a pe<span class=\"_ _3\"></span>rio<span class=\"_ _3\"></span>d of thre<span class=\"_ _3\"></span>e year<span class=\"_ _3\"></span>s. I<span class=\"_ _3\"></span>n 2022, re<span class=\"_ _3\"></span>mun<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>atio<span class=\"_ _3\"></span>n ap<span class=\"_ _3\"></span>prove<span class=\"_ _3\"></span>d by the A<span class=\"_ _3\"></span>ud<span class=\"_ _3\"></span>it Committ<span class=\"_ _0\"></span>ee to<span class=\"_ _0\"></span> the statut<span class=\"_ _0\"></span>or<span class=\"_ _3\"></span>y audit<span class=\"_ _0\"></span>or f<span class=\"_ _0\"></span>or auditing<span class=\"_ _0\"></span> activities<span class=\"_ _0\"></span> am<span class=\"_ _3\"></span>ounte<span class=\"_ _3\"></span>d to 320,982 euro. Rem<span class=\"_ _3\"></span>un<span class=\"_ _3\"></span>era<span class=\"_ _3\"></span>tio<span class=\"_ _3\"></span>n pai<span class=\"_ _3\"></span>d to the s<span class=\"_ _3\"></span>tat<span class=\"_ _3\"></span>utor<span class=\"_ _3\"></span>y au<span class=\"_ _3\"></span>ditor fo<span class=\"_ _3\"></span>r spe<span class=\"_ _3\"></span>cia<span class=\"_ _3\"></span>l ass<span class=\"_ _3\"></span>ign<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nts w<span class=\"_ _3\"></span>as 81<span class=\"_ _3\"></span>,432 euro.We refer to the \u2018<span class=\"fc2 ls16 ws53\">Corporate<span class=\"_ _0\"></span> G<span class=\"_ _3\"></span>overnanc<span class=\"_ _0\"></span>e Chapt<span class=\"_ _0\"></span>er<span class=\"fc0 lsd ws3a\">\u2019 fo<span class=\"_ _3\"></span>r in<span class=\"_ _3\"></span>for<span class=\"_ _3\"></span>ma<span class=\"_ _3\"></span><span class=\"ls4 ws4\">-</span></span></span>tion wit<span class=\"_ _0\"></span>h respect t<span class=\"_ _0\"></span>o remuneration<span class=\"_ _0\"></span> of dir<span class=\"_ _0\"></span>ectors and members of th<span class=\"_ _3\"></span>e core lea<span class=\"_ _3\"></span>der<span class=\"_ _3\"></span>sh<span class=\"_ _3\"></span>ip team<span class=\"_ _3\"></span>.(b) Th<span class=\"_ _3\"></span>e tota<span class=\"_ _3\"></span>l mo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>tgag<span class=\"_ _3\"></span>e in<span class=\"_ _3\"></span>clud<span class=\"_ _3\"></span>es t<span class=\"_ _3\"></span>hree lo<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>s of 10 mill<span class=\"_ _3\"></span>ion e<span class=\"_ _3\"></span>uro each to f<span class=\"_ _3\"></span>und t<span class=\"_ _3\"></span>he h<span class=\"_ _3\"></span>ead<span class=\"_ _3\"></span>qu<span class=\"_ _3\"></span>ar<span class=\"_ _3\"></span>ter c<span class=\"_ _3\"></span>amp<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>. Th<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>crease i<span class=\"_ _3\"></span>n net bo<span class=\"_ _3\"></span>ok va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e sin<span class=\"_ _3\"></span>ce 2020 is due to d<span class=\"_ _3\"></span>epre<span class=\"_ _3\"></span>ciati<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>.23. Cash flow statement: effect of acquisitions and disposalsTh<span class=\"_ _3\"></span>e foll<span class=\"_ _3\"></span>owin<span class=\"_ _3\"></span>g ta<span class=\"_ _3\"></span>ble s<span class=\"_ _3\"></span>how<span class=\"_ _3\"></span>s the e<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>fect of a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>ons a<span class=\"_ _3\"></span>nd d<span class=\"_ _3\"></span>is<span class=\"ls4 ws4\">-</span>pos<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>s on t<span class=\"_ _3\"></span>he b<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ance s<span class=\"_ _3\"></span>hee<span class=\"_ _3\"></span>t move<span class=\"_ _3\"></span>me<span class=\"_ _3\"></span>nt of th<span class=\"_ _3\"></span>e Gro<span class=\"_ _3\"></span>up.In th<span class=\"_ _3\"></span>ou<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>nds o<span class=\"_ _3\"></span>f euro<span class=\"_ _dc\"> </span><span class=\"ls16 ws1f\">Aquisitions 2022</span>Net<span class=\"_ _0\"></span>-identifiable<span class=\"_ _0\"></span> assets and liabilities<span class=\"_ _95\"> </span><span class=\"ls10b ws128\">-1,796</span>Know-<span class=\"_ _0\"></span>how on acquisit<span class=\"_ _0\"></span>ions<span class=\"_ _9a\"> </span><span class=\"ls199 wsd9\">7,<span class=\"_ _3\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _3\"></span>7</span>Put opt<span class=\"_ _0\"></span>ion non-controlling<span class=\"_ _0\"></span> interest<span class=\"_ _103\"> </span><span class=\"ls110 ws12d\">-2<span class=\"_ _3\"></span>,0<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>9</span>Acquired/<span class=\"_ _0\"></span>(sold) cash<span class=\"_ _113\"> </span><span class=\"ls3c ws48\">237</span>Purchase price<span class=\"_ _1ab\"> </span><span class=\"ls10a ws127\">4,000</span>Th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n in 2022 rel<span class=\"_ _3\"></span>ates to a joi<span class=\"_ _3\"></span>nt vent<span class=\"_ _3\"></span>ure ag<span class=\"_ _3\"></span>reem<span class=\"_ _3\"></span>ent with t<span class=\"_ _3\"></span>he Swe<span class=\"_ _3\"></span>dis<span class=\"_ _3\"></span>h comp<span class=\"_ _3\"></span>any G<span class=\"_ _3\"></span>nos<span class=\"_ _3\"></span>co AB. We refer to no<span class=\"_ _3\"></span>te 1.<span class=\"_ _3\"></span>3 on acqu<span class=\"_ _3\"></span>isit<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>s and d<span class=\"_ _3\"></span>ive<span class=\"_ _3\"></span>stm<span class=\"_ _3\"></span>ent<span class=\"_ _3\"></span>s a<span class=\"_ _3\"></span>nd to th<span class=\"_ _3\"></span>e Cas<span class=\"_ _3\"></span>h flo<span class=\"_ _3\"></span>w sta<span class=\"_ _3\"></span>teme<span class=\"_ _3\"></span>nt.Th<span class=\"_ _3\"></span>ere we<span class=\"_ _3\"></span>re no a<span class=\"_ _3\"></span>cquis<span class=\"_ _3\"></span>itio<span class=\"_ _3\"></span>ns a<span class=\"_ _3\"></span>nd di<span class=\"_ _3\"></span>spo<span class=\"_ _3\"></span>sa<span class=\"_ _3\"></span>ls i<span class=\"_ _3\"></span>n 2021 an<span class=\"_ _3\"></span>d 2020.Go<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>wi<span class=\"_ _3\"></span>ll an<span class=\"_ _3\"></span>d fa<span class=\"_ _3\"></span>ir va<span class=\"_ _3\"></span>lu<span class=\"_ _3\"></span>e ad<span class=\"_ _3\"></span>jus<span class=\"_ _3\"></span>tme<span class=\"_ _3\"></span>nt<span class=\"_ _3\"></span>s ar<span class=\"_ _3\"></span>isin<span class=\"_ _3\"></span>g on t<span class=\"_ _3\"></span>he a<span class=\"_ _3\"></span>cqui<span class=\"_ _3\"></span>siti<span class=\"_ _3\"></span>on of a forei<span class=\"_ _3\"></span>gn e<span class=\"_ _3\"></span>ntit<span class=\"_ _3\"></span>y a<span class=\"_ _3\"></span>re car<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span>d in ter<span class=\"_ _3\"></span>ms of h<span class=\"_ _3\"></span>istor<span class=\"_ _3\"></span>ic<span class=\"_ _3\"></span>al cost u<span class=\"_ _3\"></span>sin<span class=\"_ _3\"></span>g the e<span class=\"_ _3\"></span>xchan<span class=\"_ _3\"></span>ge r<span class=\"_ _3\"></span>ate at th<span class=\"_ _3\"></span>e date of th<span class=\"_ _3\"></span>e acq<span class=\"_ _3\"></span>uisit<span class=\"_ _3\"></span>io<span class=\"_ _3\"></span>n.24<span class=\"_ _0\"></span>. Events subsequent to the balance sheet dateTh<span class=\"_ _3\"></span>ere a<span class=\"_ _3\"></span>re no ma<span class=\"_ _3\"></span>jo<span class=\"_ _3\"></span>r event<span class=\"_ _3\"></span>s su<span class=\"_ _3\"></span>bse<span class=\"_ _3\"></span>que<span class=\"_ _3\"></span>nt to th<span class=\"_ _3\"></span>e bal<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>ce she<span class=\"_ _3\"></span>et date wh<span class=\"_ _3\"></span>ich ha<span class=\"_ _3\"></span>ve a maj<span class=\"_ _3\"></span>or i<span class=\"_ _3\"></span>mpa<span class=\"_ _3\"></span>ct o<span class=\"_ _3\"></span>n th<span class=\"_ _3\"></span>e fur<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>he<span class=\"_ _3\"></span>r evol<span class=\"_ _3\"></span>utio<span class=\"_ _3\"></span>n of t<span class=\"_ _3\"></span>h<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span> c<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>m<span class=\"_ _1\"></span>p<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>y. N<span class=\"_ _1\"></span>V Barc<span class=\"_ _0\"></span>o NV Be<span class=\"_ _3\"></span>lgi<span class=\"_ _3\"></span>um  pa<span class=\"_ _3\"></span>rent com<span class=\"_ _3\"></span>pa<span class=\"_ _3\"></span>ny<span class=\"_ _0\"></span>, B<span class=\"_ _3\"></span>arco NV<span class=\"_ _0\"></span>, Beneluxpar<span class=\"_ _3\"></span>k 218500 Kortrijk \u2013 BelgiumT<span class=\"_ _0\"></span>el<span class=\"_ _3\"></span>.: +<span class=\"_ _2\"></span>32 (0<span class=\"_ _3\"></span>)56 23 32 1<span class=\"_ _3\"></span>1Pres<span class=\"_ _0\"></span>ident Kennedypark 3<span class=\"_ _0\"></span>58500 Kortrijk \u2013 BelgiumBeneluxpar<span class=\"_ _3\"></span>k 218500 Kortrijk \u2013 Belgium Ba<span class=\"_ _3\"></span>rco NV",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s8_notes__5__8": {
   "value": "0.44",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "s8_notes__6__7": {
   "value": "0.4",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "pp-value-376-3": {
   "value": "Beneluxpark 218500 Kortrijk \u2013 BelgiumTel.: +32 (0)56 23 32 11",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-377-3": {
   "value": "President Kennedypark 358500 Kortrijk \u2013 Belgium",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f161039": {
   "value": " Barco NV",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-378-3": {
   "value": "Beneluxpark 218500 Kortrijk \u2013 Belgium",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:549300N17QCD827TII61",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  }
 }
}