| (in millions of euros) | FISCAL 2025 | FISCAL 2024 |
|---|---|---|
| Gross borrowing cost(1)(3) | Gross borrowing cost (1)(3)FISCAL 2025 (125) |
Gross borrowing cost (1)(3)FISCAL 2024 (137) |
| Interest income from cash and cash equivalents | Interest income from cash and cash equivalents FISCAL 2025 59 |
Interest income from cash and cash equivalents FISCAL 2024 67 |
| NET BORROWING COST | NET BORROWING COST FISCAL 2025 (66) |
NET BORROWING COST FISCAL 2024 (70) |
| Interest expense on lease liabilities(2) | Interest expense on lease liabilities (2)FISCAL 2025 (26) |
Interest expense on lease liabilities (2)FISCAL 2024 (23) |
| Net foreign exchange gains/(losses) | Net foreign exchange gains/(losses) FISCAL 2025 (2) |
Net foreign exchange gains/(losses) FISCAL 2024 (1) |
| Net interest cost on net defined benefit plan obligation | Net interest cost on net defined benefit plan obligation FISCAL 2025 (4) |
Net interest cost on net defined benefit plan obligation FISCAL 2024 (2) |
| Interest income from loans and receivables at amortized cost | Interest income from loans and receivables at amortized cost FISCAL 2025 6 |
Interest income from loans and receivables at amortized cost FISCAL 2024 15 |
| Other financial income | Other financial income FISCAL 2025 25 |
Other financial income FISCAL 2024 38 |
| Other financial expenses | Other financial expenses FISCAL 2025 (21) |
Other financial expenses FISCAL 2024 (20) |
| NET FINANCIAL EXPENSE | NET FINANCIAL EXPENSE FISCAL 2025 (88) |
NET FINANCIAL EXPENSE FISCAL 2024 (63) |
| Of which financial income | Of which financial income FISCAL 2025 90 |
Of which financial income FISCAL 2024 120 |
| Of which financial expenses | Of which financial expenses FISCAL 2025 (178) |
Of which financial expenses FISCAL 2024 (183) |
| (in millions of euros) | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Marketable securities(1) | Marketable securities (1)AUGUST 31, 2025 92 |
Marketable securities (1)AUGUST 31, 2024 65 |
| Cash(2) | Cash (2)AUGUST 31, 2025 1,999 |
Cash (2)AUGUST 31, 2024 2,072 |
| CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS AUGUST 31, 2025 2,091 |
CASH AND CASH EQUIVALENTS AUGUST 31, 2024 2,137 |
| Bank overdrafts | Bank overdrafts AUGUST 31, 2025 (1) |
Bank overdrafts AUGUST 31, 2024 (3) |
| CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS AUGUST 31, 2025 2,090 |
CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS AUGUST 31, 2024 2,134 |
Cash, cash equivalents and overdrafts break down as follows by currency:
| (in millions of euros) | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Euro | Euro AUGUST 31, 2025825 |
Euro AUGUST 31, 20241,427 |
| U.S. dollar | U.S. dollar AUGUST 31, 2025382 |
U.S. dollar AUGUST 31, 202492 |
| Brazilian real | Brazilian real AUGUST 31, 202592 |
Brazilian real AUGUST 31, 202465 |
| Pound Sterling | Pound Sterling AUGUST 31, 2025283 |
Pound Sterling AUGUST 31, 2024221 |
| Other currencies | Other currencies AUGUST 31, 2025508 |
Other currencies AUGUST 31, 2024329 |
| Total | TotalAUGUST 31, 20252,090 | TotalAUGUST 31, 20242,134 |
This currency allocation is presented after clearing the positive and negative positions of the Group’s two cash pooling mechanisms with an asset position of 1,086 million euros and a liability position representing 3 million euros as of August 31, 2025.
More than 96% of the Group’s cash and cash equivalents is held with A-1+, A-1 or A-2 rated financial institutions.
No significant amount of cash or cash equivalents was subject to any restrictions at the end of fiscal year.
