Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 430

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 430
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 the execution of ONE Transformation. 
 →Risk indicators were robust,underpinned by good risk management, the economic environment and low unemployment.                        |     |               |     |         |     |       |     |         |     |       |
| Attributable profit                                                                                                                     |     |               |     |         |     | RoTE  |     |         |     | RoRWA |
| EUR 12,574 million                                                                                                                      |     | +14% in euros |     |         |     | 16.3% |     |         |     | 2.18% |
| +15% in constant euros                                                                                                                  |     |               |     | +1.2 pp |     |       |     | +0.2 pp |     |       |
| Note: changes vs. 2023.                                                                                                                 |     |               |     |         |     |       |     |         |     |       |

Below is the condensed income statement adjusted for items beyond the ordinary course of business and reclassification of certain items under some headings of the underlying income statement, as described in note 52.c of the consolidated financial statements, where our segments' aggregate underlying consolidated results are reconciled to the statutory consolidated results.

The Group presents, both at the total Group level and for each of the business units, the changes in euros registered in the income statement, as well as variations excluding the exchange rate effect (i.e., in constant euros) except for Argentina and any grouping which includes it. For further information, see section 8. 'Alternative Performance Measures' of this chapter.

At the Group level, exchange rates had an unfavourable impact of 2.0 pp on total income and a favourable impact of 1.6 pp on costs in the year.

To better understand the business trends, we reclassified certain items under some headings of the underlying income statement. These items explain the differences between the statutory and underlying income statements and were:

• In 2024:

• The impact of the temporary levy on revenue earned in Spain totalling EUR 335 million in Q1 2024, which was reclassified from total income to other gains (losses) and provisions.

• Provisions which strengthen the balance sheet in Brazil of EUR 352 million in Q2 2024 (EUR 174 million net of tax and minority interests).

• In 2023:

• The impact of the temporary levy on revenue earned in Spain totalling EUR 224 million in Q1 202