COMMISSION STAFF WORKING DOCUMENT Technical information Accompanying the document Report from the Commission to the European Parliament and the Council on the functioning of the European carbon market in 2024 
Date: 2025-12-03
Institutions: Directorate-General for Climate Action, European Commission
Subjects: EU Emissions Trading Scheme, EU emission allowance, EU energy policy, EU environmental policy, air transport, carbon, environmental monitoring, greenhouse gas, maritime transport, reduction of gas emissions

EN 

  EN 

   EUROPEAN COMMISSION  Brussels, 3.12.2025  SWD(2025) 388 final  COMMISSION STAFF WORKING DOCUMENT Technical information Accompanying the document Report from the Commission to the European Parliament and the Council  on the functioning of the European carbon market in 2024  {COM(2025) 735 final}  
 
 
Contents 
1. 

State of play on the EU ETS – scope and coverage ....................................................................... 2 

1.1. 

Regulated entities in the EU ETS in 2024 ............................................................................. 2 

Installations in the electricity and heat generation and industrial manufacturing sectors 

1.2. 
broken down by level of emissions ..................................................................................................... 2 

1.3. 

1.4. 

1.5. 

Exclusions of installations with low emissions from the EU ETS in 2024 ........................... 3 

Aviation operators in the EU ETS in 2024 ............................................................................ 4 

Emissions of GHG other than CO2 reported from ETS activities ......................................... 4 

2.  Balancing supply and demand - contributions to the Market Stability Reserve ............................ 6 

3.  Revenues from the EU ETS ........................................................................................................... 8 

4.  EU ETS implementation framework ............................................................................................ 10 

5.  Link between the EU ETS and the Swiss ETS ............................................................................. 19 

1 

 
 
 
 
 
1.  State of play on the EU ETS – scope and coverage 

Data  is  this  section  is  based  on  countries’  reports  under  Article  21  of  the  ETS  Directive 
(Directive 2003/87/EC)1, which provide an annual overview of the EU ETS scope. In 2025, 
countries submitted their reports for 2024.  

1.1. Regulated entities in the EU ETS in 2024 

Table 1. Regulated entities in the scope of the EU ETS in 2024. 

Installations in the electricity and heat generation and industry sectors 

8 704 

Aircraft operators flying between airports in the European Economic Area (EEA) and on routes from 
the EEA to Switzerland and to the UK 

393  

Shipping companies 

 3 313 

1.2. Installations in the electricity and heat generation and industrial manufacturing 

sectors broken down by level of emissions  

Table 2. Installations in the electricity and heat generation and industrial manufacturing sectors broken down by 
level of emissions (2024). 

Category 

Emissions per year 
[CO2eq] 

Number 

% of the 
total 

Category A 

< 50 000 tonnes 

6 186 (of these 4 872 were classified as installations 
with low emissions2) 

Category B 

50 000 
tonnes 

-  500 000 

1 951 

Category C 

500 000 tonnes < 

567 

71.1%  

22.4% 

6.5% 

1 Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for 
greenhouse gas emission allowance trading within the Union and amending Council Directive 96/61/EC (OJ L 275, 
25.10.2003) 

2 A subset of category A installations, with emissions below 25 000 tonnes CO2eq per year. 

2 

 
 
 
 
 
Figure 1. Categories of installations in the EU ETS, reported for 2024. 

1.3. Exclusions of installations with low emissions from the EU ETS in 2024 

To reduce the administrative burden, countries can exclude installations with emissions below 
25 000 tonnes CO2eq per year from the EU ETS if alternative measures to reduce emissions 
are implemented3. Since 2021, it is also possible to exclude from the EU ETS installations that 
emit less than 2 500 tonnes CO2eq per year4 if certain conditions have been met, as well as 
reserve or back-up units that operate no more than 300 hours per year5.  

In  2024,  15  countries  opted  to  exclude  installations  from  the  system  and  apply  equivalent 
measures to reduce emissions. These countries reported 621 installations excluded in 2024, 10 
such installations that closed and 4 that re-entered EU ETS because the applicable threshold 
was  exceeded  These  installations  accounted  for  a  total  of  3.5  Mt CO2eq,  which  is  0.3% 

3 Under Article 27 of the ETS Directive. Exclusions are notified every five years. An installation that exceeds the 
threshold in any calendar year is required to be re-entered into the scope of the EU ETS. 
4 Under Article 27a (1) of the ETS Directive. An installation that exceeds the threshold in any calendar year is 
required to be re-entered into the scope of the EU ETS. 
5 Under Article 27a (3) of the ETS Directive. An installation that exceeds the threshold in any calendar year is 
required to be re-entered into the scope of the EU ETS. 

3 

 
 
 
compared  to  the  emission  from  installations  that  are  not  excluded  from  EU  ETSAviation 
operators in the EU ETS in 2024. 

Table 3. Aviation operators in the scope of the EU ETS in 2024. 

Commercial6 

Non-commercial 

282 

111 

72% 

28% 

A total of 168 operators (43%) qualified as small emitters, including almost all non-commercial 
aircraft operators (98%).  

1.4. Emissions of GHG other than CO2 reported from ETS activities  

Table 5. Countries reporting emissions other than CO2 from EU ETS activities (2024) 7 . 

Gas 

Activity 

Number of 
countries 

Country 

PFCs 

Primary 
aluminium 

Nitric acid  

N2O 

Adipic acid  

Glyoxal and 
glyoxylic acid 

11 

20 

3 

3 

DE, EL, ES, FR, IE, IS, NO, RO, SE, SI, SK 

AT, BE, BG, CZ, DE, EL, ES, FI, FR, HR, HU, IT, LT, 
NL, NO, PL, PT, RO, SE, SK 

DE, FR, IT 

DE, FR, NL 

6 An example of a commercial aircraft operator is a passenger airline providing services to the public. An example 
of a non-commercial aircraft operator is a privately owned aircraft. 
7 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is 
the country code for Northern Ireland.  

4 

 
 
 
 
 
 
2.  Balancing supply and demand - contributions to the Market Stability Reserve 

Table 6. Annual contributions per country to the Market Stability Reserve in allowances (2021-2025). 

Country 

2021 

2022 

2023 

2024 

2025 

Austria 

5 563 187 

6 345 090 

5 555 134 

4 657 247 

4 643 745 

Belgium 

9 228 856 

10 525 966 

9 215 496 

7 725 979 

7 703 579 

Bulgaria 

6 531 499 

7 449 497 

6 522 044 

5 467 874 

5 452 021 

Cyprus 

874 285 

997 166 

873 019 

731 911 

729 789 

Czechia 

14 108 876 

16 091 870 

14 088 451 

11 811 310 

11 777 066 

Germany 

80 029 579 

91 277 689 

79 913 725 

66 997 128 

66 802 885 

Denmark 

5 005 490 

5 709 009 

4 998 244 

4 190 368 

4 178 220 

Estonia 

Greece 

Spain 

Finland 

France 

Croatia 

2 225 742 

2 538 569 

2 222 520 

1 863 290 

1 857 888 

11 888 232 

13 559 116 

11 871 023 

9 952 288 

9 923 433 

30 610 010 

34 912 228 

30 565 697 

25 625 310 

25 551 014 

6 682 443 

7 621 657 

6 672 769 

5 594 238 

5 578 019 

21 881 211 

24 956 603 

21 849 536 

18 317 957 

18 264 848 

1 513 604 

1 726 341 

1 511 413 

1 267 121 

1 263 447 

Hungary 

4 381 023 

4 996 772 

4 374 681 

3 667 594 

3 656 960 

Ireland 

Iceland 

3 740 851 

4 266 625 

3 735 436 

3 131 670 

3 122 591 

156 001 

177 927 

155 775 

130 598 

130 218 

5 

 
 
Italy 

37 775 362 

43 084 666 

37 720 676 

31 623 817 

31 532 130 

Liechtenstein 

3 492 

3 982 

3 486 

2 923 

2 914 

Lithuania 

1 100 842 

1 255 564 

1 099 248 

921 575 

918 903 

Luxembourg 

438 053 

499 621 

437 419 

366 718 

365 656 

Latvia 

Malta 

480 330 

547 840 

479 635 

402 110 

400 944 

332 525 

379 262 

332 044 

278 375 

277 568 

Netherlands 

13 394 277 

15 276 835 

13 374 887 

11 213 081 

11 180 570 

Norway 

3 106 500 

3 543 117 

3 102 003 

2 600 621 

2 593 081 

Poland 

34 583 085 

39 443 717 

34 533 022 

28 951 388 

28 867 450 

Portugal 

6 072 075 

6 925 501 

6 063 284 

5 083 265 

5 068 527 

Romania 

11 604 041 

13 234 982 

11 587 243 

9 714 376 

9 686 212 

Sweden 

3 246 409 

3 702 690 

3 241 709 

2 717 746 

2 709 867 

Slovenia 

1 478 674 

1 686 501 

1 476 533 

1 237 879 

1 234 289 

Slovakia  

4 206 047 

4 797 204 

4 199 958 

3 521 111 

3 510 902 

UK - Northern Ireland 

883 013 

1 007 119 

881 734 

739 218 

737 075 

6 

 
 
3.  Revenues from the EU ETS 

Table 7. Revenue from the auctioning of general allowances in the EU ETS (EU 27, 2024). 

EU Member State 

Revenue in 2024  

(million EUR) 

Austria  

Belgium  

Bulgaria 

Cyprus 

Czechia 

Germany  

Denmark 

Estonia 

Greece 

Spain 

Finland 

France 

Croatia 

Hungary 

Ireland 

Italy 

Lithuania 

Luxemburg 

Latvia 

Malta 

Netherlands 

Poland 

313.1 

539.1 

826.3 

95.5 

662.6 

5 528.7 

298.8 

254.6 

1 092.5 

2 575.4 

418.2 

1 533.8 

118.3 

581.3 

138.8 

2 611.0 

87.0 

1.5 

64.5 

44.2 

927.8 

3 843.2 

7 

 
 
Portugal 

Romania 

Sweden 

Slovenia 

Slovakia 

535.2 

635.8 

236.5 

133.4 

291.8 

Table  8.  Revenue  from  the  auctioning of  general  allowances  (Iceland,  Liechtenstein,  Norway  and  the  UK  for 
Northern Ireland, 2024). 

Country 

Iceland 

Liechtenstein 

Norway 

UK (Northern Ireland) 

Revenue in 2024  

(million EUR) 

4.6 

0.2 

191.6 

58.3 

Table 9. Revenue from the auctioning of allowances for the ETS Innovation Fund, the ETS Modernisation Fund 
and the Recovery and Resilience Facility (2024). 

Fund supplied from the EU ETS 

Revenue in 2024  

(million EUR) 

Innovation Fund 

Modernisation Fund 

Recovery and Resilience Facility  

2 290.7 

6 270.5 

5 606.5 

8 

 
 
 
 
4.  EU ETS implementation framework 

Table 10. Accreditation and verification in the EU ETS (2024) 8.  

Aspect 

Countries 

Number 

Number per country 

Number of verifiers accredited by the national accreditation body 
– for installations 

Number of verifiers accredited by the national accreditation body 
- for aviation 

Number  of  active  verifiers  that  were  accredited  by  another 
country - for installations 

Number  of  active  verifiers  that  were  accredited  by  another 
country - for aviation 

Number of complaints made about verifiers  

Number of resolved complaints  

Number  of  complaints  from  prior  reports,  not  reported  as 
resolved earlier and meanwhile resolved 

Number  of  non-conformities  for  verifiers  reported  in  the 
information exchange  

Number of non-conformities above resolved 

23 

9 

25 

22 

4 

4 

1 

5 

5 

94 

AT(2), BE(2), BG(3), CZ(5), DE(17), DK(3), EE(1), EL(6), ES(6), 
FI(4), FR(5), HR(3), HU(4), LI(1), LV(2), NL(2), NO(3), PL(8), PT(3), 
RO(5), SE(3), SI(2), SK(4) 

17 

AT(1), CZ(1), DE(5), EL(2), ES(2), FR(1), LV(1), PT(2), RO(2) 

58 

36 

45 

45 

BE(2), BG(3), CY(2), CZ(1), DK(2), EE(3), ES(3), FI(1), FR(1), HR(1), 
HU(2), IE(5), IS(3), LI(1), LT(3), LU(4), MT(1), NL(1), NO(2), PL(3), 
PT(1), RO(2), SE(8), SK(1), XI(2) 

BE(3), BG(1), CY(2), DE(1), DK(1), EE(1), ES(1), FI(1), HR(1), 
HU(1), IE(2), IS(1), LT(2), LU(2), MT(4), NL(1), NO(1), PL(3), PT(1), 
RO(2), SE(3), SK(1) 

DE(8), DK(14), ES(21), RO(2) 

DE(8), DK(14), ES(21), RO(2) 

36 

DK(36) 

50 

37 

BG(6), FI(17), HR(23), IE(2), NO(2) 

BG(6), FI(4), HR(23), IE(2), NO(2)  

8 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is the country code for Northern Ireland.  

9 

 
 
 
 
Number of non-conformities from prior reports, not reported as 
resolved earlier and meanwhile resolved 

Verifiers suspended  

Withdrawal of accreditation certificate 

Scope of accreditation reduced 

2 

1 

23 

BG(3), FI(20) 

1 

RO(1)  

0 

2 

0 

2 

- 

 DK(1), FR(1) 

10 

 
 
 
 
 
Table 11. Coordination between competent authorities that implement the EU ETS (2024) 9.  

Aspect 

Number and list of countries 

A  central  competent  authority  regularly  reviews  monitoring  plans,  annual  emission  reports  and 
improvement reports in addition to local and regional authorities. 

11 

AT, BG, DE, ES, HU, LT, LV, NL, PL, SE, XI 

A  central  competent  authority  steers  local  and/or  regional  competent  authorities  by  giving  binding 
instructions and guidance. 

A central competent authority steers local and/or regional competent authorities by giving non- binding 
instructions and guidance. 

5 

5 

BG, FR, NL, SK, XI 

AT, LT, LV, PL, PT 

Regular meetings of competent authorities are organised. 

11 

BE, BG, DE, EL, ES, FR, NL, PT, SE, SK, XI 

Common  training  is  organised  for  all  competent  authorities  to  ensure  harmonised  implementation  of 
requirements. 

8 

AT, BG, FR, NL, PT, SE, SK, XI  

A  structured  working  or  coordination  group  is  established,  where  competent  authority  staff  discuss 
implementation issues and develop common approaches. 

12 

 BG, EL, ES, FR, HU, IS, NL, PL, PT, SE, SK, XI 

9 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is the country code for Northern Ireland.   

11 

 
 
 
 
 
 
 
Table 12. Administrative charges in the EU ETS (2024). 10 

Aspect 

Fees charged to operators 

Fees charged for permit issuance/monitoring 
plan approval 

Fees charged for permit update 

Fees charged for permit transfer 

Fees charged for permit surrender 

Fees charged for an application to the New 
entrants reserve  

Annual subsistence charge 

Fees charged to aircraft operators 

Fees charged for approval of an emissions 
monitoring plan 

Fees charged for approval of a change to an 
emissions monitoring plan 

Fees charged for approval of a monitoring plan 
for tonne-kilometre data 

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Number and list of relevant countries  
(charges expressed in EUR) 

AT, BG, CZ, DK, ES, FI, HU, IS, IT, NO, PL, PT, RO, SI, XI 

AT(100), BG(250), CZ(400), ES(406.9), FI(500), HU(230), IS(4900), 
NO(1691), PL(19.3), PT(795), RO(360), SI(22.6), XI(9301) 

AT(100), BG(100), ES(393.33), FI(400), HU(120), IS(875), NO(1006), 
PL(2.35), PT(495), RO(360), SI(22.6), XI(658) 
AT(100), FI(500), HU(120), IS(875), PL(2.35), PT(495), SI(22.6), 
XI(658) 

AT(100), PL(2.35), XI(953) 

AT(100), BG(250), HU(648), IS(3600), PL(2.35), SI(22.6), XI(1743) 

DK(6874), XI(6354) 

AT, BG, DK, FI, HU, IE, IS, LV, NO, PL, PT, RO, SI 

AT(100), BG(250), FI(770), HU(524), IE(500), IS(4700), LV(347), 
NO(1006), PL(2.35), PT(311.02), RO(2000), SI(22.6) 

AT(100), BG(50), FI(280), HU(524), IS(1460), LV(200), NO(1006), 
PL(2.35), PT(156.11), RO(500), SI(22.6) 

AT(100), HU(524), IS(1460), PL(2.35), PT(156.11), SI(22.6) 

15 

13 

12 

8 

3 

7 

2 

13 

12 

11 

6 

10 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is the country code for Northern Ireland.  

12 

 
 
 
 
 
 
Fees charged for approval of a change to a 
monitoring plan for tonne-kilometre data 

Transfer of monitoring plan 

Surrender of monitoring plan 

2 

3 

3 

AT(100), PL(2.35) 

AT(100), FI(280), HU(524)  

AT(100), FI(280), HU(524) 

13 

 
 
 
 
 
Table 13. Compliance checks in the EU ETS (2024). 11 

Type of check 

Number and list of countries  
(% or number per country) 

Share of emissions reports checked for completeness 
and internal consistency (%) 

Share of emissions reports checked for consistency 
with the monitoring plan (%) 

s
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Share of emissions reports cross-checked with 
allocation data (%) 

Share of emissions reports cross-checked with other 
data (%).  

Share of emissions reports analysed in detail (%).  

27 

27 

23 

18 

24 

AT(100%), BE(37%), BG(100%), CY(100%), CZ(100%), DE(100%), DK(100%), 
EE(100%), EL(100%), FI(100%), FR(100%), HR(100%), HU(100%), IE(95%), 
IS(100%), LT(100%), LU(100%), LV(100%), MT(100%), NL(100%), NO(100%), 
PL(100%), PT(100%), SE(100%), SI(100%), SK(100%), XI(100%) 

AT(20%), BE(7%), BG(100%), CY(100%), CZ(45%), DE(100%), DK(100%), 
EE(100%), EL(100%), FI(100%), FR(100%), HR(100%), HU(100%), IE(95%), 
IS(100%), LT(80%), LU(100%), LV(100%), MT(100%), NL(100%), NO(100%), 
PL(100%), PT(100%), SE(5%), SI(100%), SK(100%), XI(100%) 

AT(20%), BE(30%), BG(100%), CY(100%), CZ(30%), DK(100%), EE(100%), 
EL(100%), FI(100%), FR(100%), HR(100%), HU(100%), IE(100%), IS(100%), 
LT(80%), LU(100%), LV(100%), NL(100%), PL(100%), PT(100%), SI(100%), 
SK(100%), XI(100%) 

AT(20%), BE(30%), BG(100%), CY(100%), CZ(25%), DK(78%), EE(100%), 
EL(100%), FR(100%), HR(100%), LT(80%), NO(100%), PL(20%), PT(100%), 
SE(100%), SI(100%), SK(100%), XI(100%) 

AT(20%), BE(10%), BG(10%), CY(100%), CZ(45%), DE(27%), DK(72%), EE(100%), 
EL(50%), FI(100%), FR(30%), HR(100%), IE(95%), IS(100%), LT(100%), LU(100%), 
MT(100%), NL(100%), NO(100%), PL(100%), PT(100%), SE(5%), SK(100%), 
XI(100%) 

Number of verified emissions reports rejected due to 
non-compliance  

3 

FR(10), LT(1), PL(3) 

11 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is the country code for Northern Ireland.  

14 

 
 
 
 
Number of verified emissions reports rejected for 
other reasons 

3 

BE(1), FR(20), LT(2) 

AT(100%), BE(62%), BG(100%), CY(100%), CZ(100%), DE(100%), DK(100%), 
EE(100%), ES(100%), FI(100%), HR(100%), IE(100%), IS(100%), IT(100%), 
LU(100%), MT(100%), NL(100%), PL(100%), PT(100%), SE(100%), SI(100%), 
SK(100%) 

AT(100%), BE(62%), BG(100%), CY(100%), CZ(50%), DE(100%), DK(100%), 
EE(100%), ES(100%), FI(100%), HR(100%), IE(30%), IS(100%), IT(100%), LU(100%), 
MT(100%), NL(100%), PL(100%), PT(100%), SI(100%), SK(100%) 

AT(100%), BE(100%), BG(100%), CY(100%), CZ(100%), DE(100%), DK(100%), 
EE(100%), ES(100%), FI(100%), HR(100%), IE(30%), IS(100%), IT(100%), LT(100%), 
LU(100%), MT(100%), NL(100%), PT(100%), SE(100%), SI(100%), SK(100%) 

AT(100%), BE(12%), BG(100%), CY(100%), CZ(20%), DE(100%), DK(30%), 
EE(100%), ES(100%), FI(100%), HR(100%), IE(30%), IS(100%), IT(100%), LU(100%), 
MT(100%), PL(100%), PT(100%), SE(94%), SK(100%)  

Share of emissions reports checked for completeness 
and internal consistency (%) 

Share of emissions reports checked for consistency 
with the monitoring plan (%) 

Share of emissions reports cross-checked with other 
data (%) 

Share of emissions reports analysed in detail (%) 

s
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Number of verified emissions reports rejected due to 
non-compliance  

Number  of  verified  emissions  reports  rejected  for 
other reasons.  

22 

21 

22 

20 

0 

0 

15 

 
 
 
 
 
 
 
 
 
Table 14. Measures to ensure compliance with the EU ETS (2024). 

Compliance measures 

Countries 

Onsite inspections 

Preventive measures taken to ensure operator’s compliance 

Ensuring that selling of emission allowances is prohibited in case of 
irregularities 

Imprisonment possible 

Onsite inspections 

18 

18 

6 

8 

5 

AT, CY, CZ, EL, ES, FR, HR, HU, IE, IS, LT, NL, NO, PL, PT, 
RO, SE, SI 

AT, CZ, DE, EE, ES, FI, FR, HR, HU, IE, IS, LU, NL, NO, PL, SE, 
SI, SK 

AT, CZ, DE, FR, SI, SK 

BE, CY, DK, EE, IE, LU, NO, SE 

BE, EL, ES, NL, SE 

Preventive measures taken to ensure aircraft operator’s compliance 

15 

AT, CY, DE, DK, EE, FI, FR, HR, IE, IS, IT, LU, NL, NO, SE 

Ensuring  that  selling  of  emission  allowances  is  prohibited  in  
case of irregularities 

Imprisonment possible 

2 

6 

AT, DE  

CY, DK, IE, LU, NO, SE 

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Table 15. Excess emissions penalties in the EU ETS (2024) 12.  

Penalty 

Countries 

Number of operators and country 

Imposition of excess emission penalties on installations 

Imposition of excess emission penalties on aircraft operators 

9 

6 

31 

CZ(5), ES(3), FI(1), HU(5), IE(2), IT(1), PL(6), RO(7), SK(1) 

11 

DE(1), ES(2), IS(1), IT(5), LV(1), SE(1) 

12 The maximum number of countries is 30 because Liechtenstein did not have any active operators in 2024. XI is the country code for Northern Ireland.  

17 

 
 
 
 
 
 
5.  Link between the EU ETS and the Swiss ETS 

Table 16. Comparison of the EU ETS and the Swiss ETS - installations (2024). 

System 

EU ETS 

Swiss ETS 

General allowances auctioned  

Free allocation of general allowances 

Verified emissions from stationary installations 

592 801 500 

496 811 248 

1 033 244 671 

351 649 

3 540 031 

3 694 355 

Table 17. Comparison of the EU ETS and the Swiss ETS - aircraft operators (2024). 

System  

EU ETS 

Swiss ETS 

Aviation allowances auctioned  

6 688 500 

433 500 

Free allocation of aviation 
allowances  

Verified emissions from aircraft 
operators 

EU aviation allowances  
for EU ETS 

Swiss aviation allowances  
for Swiss ETS 

Swiss aviation allowances  
for Swiss ETS 

EU aviation allowances  
for EU ETS 

17 251 228 

330 528 

404 046 

280 541 

EU ETS 

Swiss ETS 

Swiss ETS 

EU ETS 

61 510 341 

737 078 

929 893 

1 060 456 

18