Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 11

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 11
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 Q1'24 Q2 Q3 Q4 Q1'25 +4% Continuing strong operational performance driving profit growth Attributable profit (Constant € mn) € mn +19% +4% Profit Note: underlying P&L. All references to variations in constant euros across the presentation include Argentina in current euros to mitigate distortions from a hyperinflationary economy. From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, please see the ‘Alternative Performance Measures’ section of the Quarterly Financial Report. (1) YoY attributable profit growth if we accrue the 2024 temporary levy on revenue earned in Spain, in line with the criteria used for the banking tax in Spain in 2025. Current Constant € million Q1'25 Q1'24 % % NII 11,378 11,983 -5 -2 Net fee income 3,369 3,240 4 9 Other income 790 157 n.m. n.m. Total revenue 15,537 15,380 1 5 Operating expenses -6,489 -6,547 -1 2 Net operating income 9,048 8,833 2 7 LLPs -3,161 -3,125 1 7 Other results -700 -1,125 -38 -36 Attributable profit 3,402 2,852 19 24 10 13 Group P&L Att. profit like-for-like Spanish banking tax1 NII excluding Argentina: +0% in current +4% in constant Total revenue excluding Argentina: +1% in current +5% in constant 2,746 3,111 3,248 3,265 3,402 * (*) Revenue profile is significantly affected by Argentina (non-material in total revenue): -€609mn in NII YoY compensated by +€554mn from lower inflation in other income.

18 14,828 15,216 15,186 16,106 15,537 Q1'24 Q2 Q3 Q4 Q1'25 15,537 14,828 +188 +55 +163 +129 +178 -5 Q1'24 Retail Consumer CIB Wealth Payments CC Q1'25 Revenue growth underpinned by stronger customer activity across our businesses Note: data and YoY %