Shareholders’ equity

Shareholders’ equity increased from €5.8 billion at year-end 2014 to €6.0 billion at the end of September 2015, mainly due to the net effect of:

  • Net income of €776 million

Offset by:

  • Actuarial impact of €442 million reported in Other comprehensive income, including €380 million for de-risking of pension liabilities
  • Dividend payments of €170 million