Debt Maturity
Debt Maturity Profile – June 30, 2026 (€ million)
Net Debt
| € Million | June 30, 2026 | December 31, 2025 |
| Total bonds and other long-term debt | 4,036 | 4,033 |
| Long-term lease liabilities | 157 | 160 |
| Total short-term debt (including short-term bonds) | 1,355 | 779 |
| Gross debt | 5,548 | 4,972 |
| Cash and cash equivalents | (1,494) | (932) |
| Collateral | (19) | (12) |
| Other | (11) | (4) |
| Net debt | 4,024 | 4,024 |
Debt Structure
| Outstanding Debt By Instrument Per June 30, 2026 (€ Million) | By Currency Per June 30, 2026 | |||
| Bonds | 4,818 | 87% | Euro | 95% |
| Private placements | 108 | 2% | U.S. dollar | 2% |
| Lease liabilities (long- and short-term) | 205 | 4% | JPY | 2% |
| Euro Commercial Paper (ECP) | 275 | 5% | Other | 1% |
| Other loans | 142 | 2% | ||
| Gross debt | 5,548 | 100% | 100% | |