Core Viewpoint - Luotea Plc has undergone a partial demerger of its Circular Economy Business, which has been classified as discontinued operations in accordance with IFRS 5, affecting the presentation of its financial statements for the years 2024 and 2025 [2][3]. Group 1: Demerger Details - The Demerger Plan for the Circular Economy Business was published on 7 August 2025 and approved on 4 December 2025, with the demerger implemented on 31 December 2025 [2]. - Following the demerger, the financial results related to the circular economy business will be presented separately from continuing operations, with comparative periods restated accordingly [2][3]. Group 2: Financial Information - The income statement for discontinued operations includes revenue and expenses directly attributable to the circular economy business, which will be derecognized from the Group post-demerger [3]. - The comparative information provided is unaudited and reflects the financial performance of continuing operations after the demerger [4]. Group 3: Company Overview - Luotea is a real estate service company operating in Finland and Sweden, providing comprehensive property lifecycle solutions, including energy efficiency and data-driven technologies [5]. - In 2024, Luotea reported a revenue of €346 million and employed approximately 5,000 people [5].

Core Insights - Kering Beauté will be reclassified as discontinued operations in the consolidated financial statements as of December 31, 2025, following the agreement with L'Oréal for its sale, expected to close in the first half of 2026 [2]. Financial Information - For H1 2025, reported revenue was €7,587 million, which will be restated to €7,439 million after excluding Kering Beauté's contribution of €148 million. In 2024, reported revenue was €17,194 million, restated to €16,874 million after excluding Kering Beauté's contribution of €320 million [2]. - The recurring operating income for H1 2025 was reported at €969 million, restated to €920 million after excluding Kering Beauté's contribution of €49 million. For 2024, reported recurring operating income was €2,554 million, restated to €2,440 million after excluding Kering Beauté's contribution of €114 million [2]. - Quarterly revenue for Q3 2025 was reported at €3,415 million, with a comparable change of -5%. After restating for Kering Beauté, the revenue was adjusted to €3,331 million, reflecting a comparable change of -6% [3]. Future Reporting - Kering Beauté's contributions will be presented separately within net income from discontinued operations, and comparative periods will be restated for consistency across reporting periods. The Group's financial indicators will be presented excluding Kering Beauté under continuing operations [8].