Accounting policies
Operating income from ordinary activities measures the operational performance of fully consolidated Group subsidiaries. It excludes share-based payment expense (IFRS 2), certain recurring operating items (including the share of profit or loss of companies accounted for under the equity method), together with non-recurring operating items.
Recurring operating income is obtained by taking operating income from ordinary activities and adding the IFRS 2 expense associated with share-based payments (chiefly Group savings plans and performance share plans), the Group’s share of profit or loss of subsidiaries accounted for under the equity method, and other recurring operating income and expense. The latter category includes recurring income and expense relating to companies accounted for under the equity method and to unconsolidated companies (financial income from shareholder loans and advances granted by the Group to some subsidiaries, dividends received from unconsolidated companies). Recurring operating income represents the Group’s operational performance excluding the impact of non-recurring transactions and events during the period.
Operating income is calculated by taking recurring operating income and adding non-recurring income and expense, which mainly includes goodwill impairment losses, restructuring charges, and income and expense relating to changes in scope (capital gains or losses on disposals of securities and the impact of changes in control).
| (in € millions) | 2024 | 2023 |
|---|---|---|
| Revenue(*) | Revenue(*) 2024 71,623 |
Revenue(*) 2023 68,838 |
| Concession subsidiaries’ revenue derived from works carried out by non-Group companies | Concession subsidiaries’ revenue derived from works carried out by non-Group companies2024 837 |
Concession subsidiaries’ revenue derived from works carried out by non-Group companies2023 780 |
| Total revenue | Total revenue 2024 72,459 |
Total revenue 2023 69,619 |
| Revenue from ancillary activities(**) | Revenue from ancillary activities (**)2024 308 |
Revenue from ancillary activities (**)2023 267 |
| Purchases consumed | Purchases consumed 2024 (15,658) |
Purchases consumed 2023 (15,790) |
| External services(***) | External services (***)2024 (8,019) |
External services (***)2023 (7,585) |
| Temporary staff | Temporary staff 2024 (1,775) |
Temporary staff 2023 (1,689) |
| Subcontracting (including concession companies’ construction costs) | Subcontracting (including concession companies’ construction costs) 2024 (14,767) |
Subcontracting (including concession companies’ construction costs) 2023 (14,520) |
| Taxes and levies | Taxes and levies 2024 (1,647) |
Taxes and levies 2023 (1,299) |
| Employment costs | Employment costs 2024 (17,544) |
Employment costs 2023 (16,352) |
| Other operating income and expense | Other operating income and expense 2024 41 |
Other operating income and expense 2023 101 |
| Depreciation and amortisation | Depreciation and amortisation 2024 (3,998) |
Depreciation and amortisation 2023 (3,799) |
| Net provision expense | Net provision expense 2024 (403) |
Net provision expense 2023 (597) |
| Operating expenses | Operating expenses 2024 (63,770) |
Operating expenses 2023 (61,529) |
| Operating income from ordinary activities | Operating income from ordinary activities 2024 8,997 |
Operating income from ordinary activities 2023 8,357 |
| % of revenue(*) | % of revenue(*) 2024 12.6% |
% of revenue(*) 2023 12.1% |
| Share-based payments (IFRS 2) | Share-based payments (IFRS 2) 2024 (462) |
Share-based payments (IFRS 2) 2023 (360) |
| Profit/(loss) of companies accounted for under the equity method | Profit/(loss) of companies accounted for under the equity method 2024 219 |
Profit/(loss) of companies accounted for under the equity method 2023 111 |
| Other recurring operating items | Other recurring operating items 2024 97 |
Other recurring operating items 2023 68 |
| Recurring operating income | Recurring operating income 2024 8,850 |
Recurring operating income 2023 8,175 |
| Goodwill impairment losses | Goodwill impairment losses 2024 (8) |
Goodwill impairment losses 2023 (8) |
| Impact from changes in scope and gain/(loss) on disposals of shares | Impact from changes in scope and gain/(loss) on disposals of shares 2024 (59) |
Impact from changes in scope and gain/(loss) on disposals of shares 2023 (96) |
| Total non-recurring operating items | Total non-recurring operating items 2024 (68) |
Total non-recurring operating items 2023 (105) |
| Operating income | Operating income 2024 8,783 |
Operating income 2023 8,071 |
The rise in share-based payments during the year was mainly due to the change in estimates affecting the measurement of the expense relating to the Group savings plan in France.
The increase in the profit of companies accounted for under the equity method was due in particular to the recovery in passenger numbers for Kansai Airports in Japan and the acquisition of the concession company for Budapest airport.
Non-recurring operating items represented a net expense of €68 million and mainly comprised:
In 2023, they represented a net expense of €105 million and consisted mainly of an €80 million expense relating to the Cobra IS acquisition.
