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Accounts Receivable

6 Months Ended

Jun. 30, 2025

Trade and other receivables [abstract]

B.7. Accounts receivable

Accounts receivable break down as follows:



( € million)	June 30, 2025			December 31, 2024

Gross value		7,896			7,777

Allowances		(86	)		(100	)

Carrying amount		7,810			7,677

The impact of allowances against accounts receivable in the first half of 2025 was a net expense of

€

4 million (versus a net expense of

€

3 million for the first half of 2024).

The table below shows the ageing profile of overdue accounts receivable, based on gross value:



( € million)	Overdue accounts gross value		Overdue by <1 month		Overdue by 1-3 months		Overdue by 3-6 months		Overdue by 6-12 months		Overdue by > 12 months

As of June 30, 2025		386		122		103		73		48		40

As of December 31, 2024		650		316		194		87		9		44

Amounts overdue by more than one month relate mainly to public-sector customers.

Some Sanofi subsidiaries have assigned receivables to factoring companies or banks without recourse. The amount of receivables that met the conditions described in Note B.8.6. to the consolidated financial statements for the year ended December 31, 2024 and hence were derecognized was

€

12 million as of June 30, 2025 (versus

€

14 million as of December 31, 2024). The residual guarantees relating to those transfers were immaterial as of June 30, 2025.