FINANCIAL REVIEW

Consolidated Balance Sheet

(EUR Million)	DEC-22	DEC-21
FIXED AND OTHER NON-CURRENT ASSETS	18,865	15,852
Consolidation goodwill	480	431
Intangible assets	137	126
Investments in infrastructure projects	13,667	11,185
Property	0	0
Plant and Equipment	479	354
Right-of-use assets	183	176
Equity-consolidated companies	1,892	1,838
Non-current financial assets	1,095	879
Long term investments with associated companies	246	227
Restricted Cash and other non-current assets	597	579
Other receivables	252	73
Deferred taxes	784	570
Derivative financial instruments at fair value	148	293

CURRENT ASSETS	7,419	9,030
Assets classified as held for sale	2	1,641
Inventories	475	405
Trade & other receivables	1,609	1,344
Trade receivable for sales and services	1,300	1,068
Other receivables	309	276
Taxes assets on current profits	19	79
Other short term financial assets	0	11
Cash and other temporary financial investments	5,130	5,536
Infrastructure project companies	168	207
Restricted Cash	38	47
Other cash and equivalents	130	160
Other companies	4,962	5,329
Derivative financial instruments at fair value	184	15
TOTAL ASSETS	26,284	24,882

(EUR Million)	DEC-22	DEC-21
EQUITY	6,354	5,829
Capital & reserves attrib to the Company´s equity holders	4,113	4,039
Minority interest	2,241	1,790
Deferred Income	1,410	1,403

NON-CURRENT LIABILITIES	13,142	11,107
Pension provisions	2	3
Other non current provisions	416	422
Long term lease debts	120	115
Financial borrowings	10,776	9,513
Financial borrowings on infrastructure projects	7,893	7,362
Financial borrowings other companies	2,883	2,151
Other borrowings	838	72
Deferred taxes	924	687
Derivative financial instruments at fair value	66	295

CURRENT LIABILITIES	5,378	6,543
Liabilities classified as held for sale	0	1,395
Short term lease debts	64	58
Financial borrowings	877	1,096
Financial borrowings on infrastructure projects	74	47
Financial borrowings other companies	803	1,049
Derivative financial instruments at fair value	47	110
Trade and other payables	3,430	2,813
Trades and payables	1,663	1,544
Other non commercial liabilities	1,767	1,269
Liabilities from corporate tax	30	69
Trade provisions	930	1,002
TOTAL LIABILITIES & EQUITY	26,284	24,882

(EUR million)	DEC-22	DEC-21
Gross financial debt	-11,682	-10,711
Gross debt ex-infrastructure	-3,716	-3,248
Gross debt infrastructure	-7,967	-7,463
Gross Cash	5,902	6,260
Gross cash ex-infrastructure	5,154	5,430
Gross cash infrastructure	748	830
Total net financial position	-5,781	-4,451
Net cash ex-infrastructure	1,439	2,182
Net debt infrastructure	-7,219	-6,633
Total net financial position	-5,781	-4,451