| Income Statement Evolution | |
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| Annual Income Statement Data |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Sales | 7 638 | 7 531 | 6 828 | 6 462 | 6 339 | 6 545 | | Operating income (EBITDA) | - | 2 174 | 2 135 | 1 963 | 2 012 | 2 106 | | Operating profit (EBIT) | - | 1 427 | 1 360 | 1 241 | 1 276 | 1 371 | | Pre-Tax Profit (EBT) | - | - | -1 654 | - | - | - | | Net income | 139 | 519 | -974 | 535 | 573 | 596 | | EPS ( $) | 0,58 | 2,15 | - | 2,07 | 2,33 | 2,47 | | Dividend per Share ( $) | 1,54 | 1,56 | 1,60 | 1,60 | 1,64 | 1,67 | | Yield | 4,26% | 4,30% | 4,43% | 4,44% | 4,54% | 4,61% | | Announcement Date | 02/22/2011 12:48pm | 02/23/2012 12:57pm | 02/20/2013 01:13pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 7 192 | 6 749 | 6 772 | 6 763 | 7 369 | 8 045 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | - | 2 174 | 2 135 | 1 963 | 2 012 | 2 106 | Leverage (Debt/EBITDA) | - | 3,10x | 3,17x | 3,45x | 3,66x | 3,82x | | Capital Expenditure | 1 031 | 1 030 | 1 240 | 1 523 | 1 631 | 1 649 | | Book Value Per Share (BVPS) | 32,2 $ | 32,6 $ | 27,3 $ | 27,8 $ | 28,7 $ | 29,3 $ | | Cash Flow per Share | 7,71 $ | 7,78 $ | 6,97 $ | 4,92 $ | 5,19 $ | 5,45 $ | | Announcement Date | 02/22/2011 12:48pm | 02/23/2012 12:57pm | 02/20/2013 01:13pm | - | - | - |
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Assessed data source : © 2013 Thomson Reuters |
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Valuation |
2013e |
2014e |
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PER (Price / EPS)
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17,4x |
15,5x |
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Capitalization / Revenue
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1,36x |
1,38x |
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EV / Revenue
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2,40x |
2,55x |
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EV / EBITDA
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7,92x |
8,02x |
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Yield (DPS / Price)
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4,44% |
4,54% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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19,2% |
20,1% |
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operating laverage (Delta EBIT / Delta Sales)
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-1,63x |
- |
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Net Margin (Net Profit / Revenue)
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8,27% |
9,04% |
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ROA (Net Profit / Asset)
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2,30% |
2,45% |
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ROE (Net Profit / Equities)
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7,63% |
8,07% |
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Rate of Dividend
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77,4% |
70,4% |
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