49. Unappropriated result
Movements in the unappropriated result were as follows:
| In millions of euros | 2024 | 2023 |
|---|---|---|
| Balance as at 1 January | 482.3 | 554.9 |
| Dividend paid | -266.0 | -200.0 |
| Allocated to other reserves | -216.3 | -354.9 |
| Result for the year | 67.8 | 482.3 |
| Balance as at 31 December | 67.8 | 482.3 |
Appropriation of result for the 2023 financial year
The 2023 financial statements were adopted by the General Meeting of Shareholders on 26 March 2024. The General Meeting has appropriated the result in accordance with the Executive Board’s proposal.
The result for 2023 amounted to a profit of € 482.3 million, of which € 266.0 million was distributed as dividend in 2024; the remaining € 216.3 million was added to the other reserves.
Result appropriation proposal for the 2024 financial year
The Executive Board proposes that the profit for the 2024 financial year be added to ‘other reserves’ in full. We have agreed with our shareholder that we will apply all of our profits for financial years 2024 to 2026 inclusive to our investments in the energy transition.
This proposal for appropriation of the result has not been recognised in the balance sheet as at 31 December 2024 or in the notes.