Corporate activities

Any consolidated activities within continuing operations that are outside the four Business Units are reported as corporate activities. These comprise operating and service activities, as well as a number of costs that cannot be allocated directly to the Business Units. While this segment reports net sales to third parties from its service units, it normally has a negative operating result.

Corporate activities include various holding companies, regional holdings, and corporate overheads. The most significant cost elements are corporate departments and the share-based compensation for the company.

Insurances

We retain a limited part of our material damage, business interruption, (product) liability, and other risks via captive insurance companies. In 2024, the total retained damages were €29 million (2023: €25 million).

Corporate research

We invest in a number of disruptive technology platforms, managed by our Senior Science Fellows, through which we aim to create greater differentiation in the long-term. These investments underpin early-stage innovation projects co-funded with the relevant business. They follow the principles of co-leadership, milestone-based funding, and assumption-based working, to provide market-ready scientific breakthroughs in the future.

Share-based payments

Corporate executives participate in a Long-Term Incentive (LTI) scheme, which links their compensation to the long-term interests of our stakeholders. It is also a vehicle for attracting and retaining the talent we require in order to thrive as a company. For more information, see Note 27 Share-based compensation to the Consolidated Financial Statements.