Consolidated Annual Accounts and Management Report, together with the Independent Auditor's Report

The report describes a year of strong growth for the company, with revenue up 13% and EBIT up 18% in 2025. The company expanded its defence and space capabilities through the acquisition of the Hispasat Group, a 19-company satellite communications group. Its final workforce reached 62,396 people, while climate-risk analysis was updated in line with TCFD recommendations and sustainability information was prepared under a dual reporting framework.