Leases (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of details of changes in leases


		Millions of Euros
		Land and Buildings		Machinery		Computer equipment		Vehicles		Total
Cost
Balance at 31/12/2023		1,216		8		4		22		1,250
Additions		72		1		1		6		80
Transfers		1		—		—		—		1
Disposals		(21)		—		(1)		(3)		(25)
Translation differences		57		—		—		—		57
Balance at 31/12/2024		1,325		9		4		25		1,363

Acc. Amortization
Balance at 31/12/2023		(283)		(4)		(3)		(15)		(305)
Additions		(75)		(2)		(1)		(5)		(83)
Transfers		(1)		—		—		—		(1)
Disposals		5		—		1		2		8
Translation differences		(14)		—		—		—		(14)
Balance at 31/12/2024		(368)		(6)		(3)		(18)		(395)

Carrying amount
Balance at 31/12/2024		957		3		1		7		968

Cost
Balance at 31/12/2024		1,325		9		4		25		1,363
Additions		129		2		3		9		143
Transfers		(9)		—		—		—		(9)
Disposals		(19)		(3)		(3)		(16)		(41)
Translation differences		(124)		(1)		—		(1)		(126)
Balance at 31/12/2025		1,302		7		4		17		1,330

Acc. Amortization
Balance at 31/12/2024		(368)		(6)		(3)		(18)		(395)
Additions		(74)		(2)		(1)		(5)		(82)
Transfers		9		—		—		—		9
Disposals		15		3		3		16		37
Translation differences		33		—		—		—		33
Balance at 31/12/2025		(385)		(5)		(1)		(7)		(398)

Carrying amount
Balance at 31/12/2025		917		2		3		10		932

Schedule of details of leases in the consolidated balance sheet


		Millions of Euros
Right-of-use assets		31/12/2025		31/12/2024
Land and buildings		917		957
Machinery		2		3
Computer equipment		3		1
Vehicles		10		7
		932		968


				Millions of Euros
Lease liabilities		Reference		31/12/2025		31/12/2024
Non-current		Note 19		969		1,025
Current		Note 19		113		117
				1,082		1,142

Schedule of undiscounted future payments classified on a maturity basis are presented together with the effect of the financial discount


		Millions of Euros
		31/12/2025		31/12/2024
Maturity:
Within one year		113		117
In the second year		108		117
In the third to fifth years		296		319
After the fifth year		1,196		1,221
		1,713		1,774
Discounting effect		(631)		(632)
Total lease liabilities		1,082		1,142

Schedule of amounts recognized in the consolidated statement of profit and loss related to lease agreements


		Millions of Euros
Right-of-use depreciation		31/12/2025		31/12/2024
Buildings		74		75
Machinery		2		2
Computer equipment		1		1
Vehicles		5		5
		82		83


				Millions of Euros
		Reference		31/12/2025		31/12/2024
Finance lease expenses		Note 25		57		51
				57		51


		Millions of Euros
		31/12/2025		31/12/2024
Expenses related to short-term contracts		1		1
Expenses related to low-value contracts		15		16
Other operating lease expenses		30		30
		46		47