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