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Annual Report 2024

Note 47 Provisions

The long-service benefits scheme covers long-service benefits payable on attaining 25 and 40 years of service. Employees born before 1 January 1963 retain the entitlement to the benefit after retiring.

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Annual Report 2024

Note 48 Current and accrued liabilities

The short-term liabilities and accruals relate to trade payables, taxes payable and the other short-term liabilities. Amounts owed to suppliers and trade credits include amounts payable of zero to non-controlling interests (2023: €14 million).

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Annual Report 2024

Note 49 Contingent assets and liabilities

Please refer to note 45 in the notes to the company financial statements for details of lease liabilities.

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Annual Report 2024

Note 5 Investments in associates and joint ventures

The investments in 2024 relate to payments of share premium.

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Annual Report 2024

Note 50 Operating income

The other income chiefly relates to group-wide activities at holding company level.

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Annual Report 2024

Note 51 Costs of subcontracted work and other external expense

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Annual Report 2024

Note 52 Employee benefit expense

The employee benefit expense item mainly concerns the costs of group-wide activities at holding company level.

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Annual Report 2024

Note 53 Depreciation/amortisation and impairment of non-current assets

Depreciation of IT assets and right-of-use assets are recognised in the Other column.

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Annual Report 2024

Note 54 Other operating expenses

Costs passed on by group companies mainly concerns internal development projects at holding company level.

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Annual Report 2024

Note 55 Finance income

The finance income from loans to group companies was up by €79 million compared with 2023 due to the higher interest rates charged. Interest income was also €8 million higher than in 2023 as more temporary surplus liquidity was placed on deposit.

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