Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000105
Chunk: 38

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 38
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 and are therefore excluded from underlying income statement, it includes the following two events of the same value but opposite signs: - A capital gain in Q2 2025 of €231mn from the sale of Santander’s remaining 30.5% stake in CACEIS. - A one-off charge of €467mn in Q2 2025 (€231mn net of tax and minority interests), which strengthens the balance sheet after having updated macroeconomic parameters in Brazil’s credit provisioning models. Explanation of H1’24 adjustments: • In accordance with IFRS 5 requirements, in the statutory income statement in H1 2024, results subject to the Poland disposal have been reported under 'discontinued operations'. However, in the underlying income statement the results from Poland have been reclassified so that they are reported line by line and disaggregated in each of the corresponding line items. • Temporary levy on revenue in Spain in Q1 2024, totalling €335mn, which was reclassified from total income to other gains (losses) and provisions. • Provisions which strengthen the balance sheet in Brazil of €352mn in Q2 2024 (€174mn net of tax and minority interests). Statutory results Adjustments related to the Poland disposal Other adjustments Underlying results Statutory results Adjustments related to the Poland disposal Other adjustments Underlying results Net interest income 21,211 1,505 — 22,716 22,056 1,401 — 23,457 Net fee income 6,342 342 — 6,684 6,162 315 — 6,477 Gains (losses) on financial transactions 1 1,032 37 — 1,069 931 26 — 957 Other operating income 597 (56) — 541 (114) (62) 335 159 Total income 29,182 1,828 — 31,010 29,035 1,680 335 31,050 Administrative expenses and amortizations (12,364) (501) — (12,865) (12,483) (430) — (12,913) Net operating income 16,818 1,327 — 18,145 16,552 1,250 335 18,137 Net loan-loss provisions (6,524) (121) 467 (6,178) (6,293) (302) 352 (6,243) Other gains (loss