41 Retained earnings

Retained earnings contain the undistributed consolidated profits generated in prior periods. Changes in the reserves during the financial year are also presented in the statement of changes in equity.

 
€m
  2008 2009
As at 1 January 8,953 6,178
Dividend payment –1,087 –725
Consolidated net profit or loss for the period –1,688 644
Miscellaneous other changes 0 1
Retained earnings as at 31 December 6,178 6,098

 

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