Financial Debt

Net Financial Debt *	Dec. 31, 2018 (€ million)	Dec. 31, 2019 (€ million)	Dec. 31, 2020 (€ million)	Dec. 31, 2021 (€ million)	Dec. 31, 2022 (€ million)	Dec. 31, 2023 (€ million)
Bonds	996	997	1,990	1,492	1,988	1,990
Liabilities to banks	24	10	227	275	922	657
Liabilities from derivatives	193	735	672	761	746	743
Liabilities from derivatives	12	10	9	11	32	15
Other financial liabilities	–	–	1	2	1	2
Receivables from derivatives	-12	-15	-13	-34	-42	-19
Gross financial debt	1,213	1,737	2,886	2,507	3,647	3,388
Cash and cash equivalents	-865	-748	-1,404	-649	-1,198	-625
Current financial assets	-	-	-1,126	-453	-15	-276
Net financial debt	348	989	356	1,405	2.434	2.487

* Net financial debt is not defined in the International Financial Reporting Standards and is calculated as shown

Bond maturity profile

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