Shareholders’ equity

Shareholders’ equity was €5.8 billion at year-end. This increase of €0.2 billion is mainly due to the net effect of:

  • Net income of €546 million
  • Positive foreign currency effects of €374 million
  • The de-risking of the pension liabilities in the UK of €841 million
  • Actuarial gains of €286 million
  • Dividend payments of €212 million