FINANCIAL REVIEW

Consolidated Statements of Financial Position

(EUR Million)	DEC-23	DEC-22
NON-CURRENT ASSETS	19,328	18,925
Goodwill	475	480
Intangible assets	122	138
Fixed assets in infrastructure projects	13,495	13,667
Intangible asset model	13,333	13,504
Financial asset model	162	163
Investment property	0	0
Property, plant and equipment	594	479
Right-of-use assets	196	183
Investments in associates	2,038	1,951
Non-current financial assets	1,148	1,095
Loans granted to associates	262	246
Non-current restricted cash	628	597
Other non-current receivables	258	252
Deferred tax assets	1,006	784
Long-term financial derivatives at fair value	254	148

CURRENT ASSETS	6,990	7,419
Inventories	458	476
Current income tax assets	35	19
Short-term trade and other receivables	1,677	1,608
Trade receivable for sales and services	1,353	1,300
Other short-term receivables	324	308
Other short term financial assets	0	0
Cash and cash equivalents	4,789	5,130
Infrastructure project companies	204	168
Restricted Cash	31	38
Other cash and equivalents	173	130
Ex-infrastructure project companies	4,585	4,962
Short-term financial derivatives at fair value	31	184
Assets held for sale	0	2
TOTAL ASSETS	26,318	26,344

(EUR Million)	DEC-23	DEC-22
EQUITY	5,879	6,353
Equity attributable to shareholders	3,766	4,113
Equity attributable to non-controlling interests	2,113	2,240

NON-CURRENT LIABILITIES	14,664	14,612
Deferred Income	1,334	1,410
Employee benefit plans	3	2
Long-term provisions	268	416
Long-term lease liabilities	141	120
Borrowings	10,423	10,776
Debentures and borrowings of infrastructure project companies	7,852	7,893
Debentures and borrowings of ex-infrastructure project companies	2,571	2,883
Other payables	1,310	898
Deferred taxes	1,086	924
Long-term financial derivatives at fair value	99	66

CURRENT LIABILITIES	5,775	5,379
Short-term lease liabilities	59	64
Borrowings	942	877
Debentures and borrowings of infrastructure project companies	63	74
Debentures and borrowings of ex-infrastructure project companies	879	803
Financial derivatives at fair value	34	47
Current income tax liabilities	83	30
Short-term trade and other payables	3,646	3,431
Trade payables	1,698	1,663
Advance payments from customers and work certified in advance	1,529	1,364
Other short-term payables	419	404
Short-term provisions	1,011	930
Liabilities held for sale	0	0
TOTAL LIABILITIES & EQUITY	26,318	26,344

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