| 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 | 10 984 | 13 967 | 13 411 | 15 291 | 17 030 | 17 845 | | Operating income (EBITDA) | 7 226 | 8 999 | 7 503 | 9 780 | 11 222 | 12 083 | | Operating profit (EBIT) | 3 512 | 5 169 | 3 539 | 4 677 | 5 896 | 6 546 | | Pre-Tax Profit (EBT) | - | - | 3 565 | - | - | - | | Net income | 761 | -2 649 | 2 391 | 2 112 | 2 703 | 2 836 | | EPS ( $) | 1,52 | -5,32 | 4,74 | 4,13 | 5,36 | 5,13 | | Dividend per Share ( $) | 0,36 | 0,36 | 0,36 | 0,36 | 0,36 | 0,37 | | Yield | 0,40% | 0,40% | 0,40% | 0,40% | 0,40% | 0,41% | | Announcement Date | 01/31/2011 09:28pm | 02/06/2012 09:05pm | 02/04/2013 09:05pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 9 333 | 12 533 | 10 798 | 10 139 | 8 861 | 8 206 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 7 226 | 8 999 | 7 503 | 9 780 | 11 222 | 12 083 | Leverage (Debt/EBITDA) | 1,29x | 1,39x | 1,44x | 1,04x | 0,79x | 0,68x | | Capital Expenditure | 5 169 | 6 553 | 7 311 | 7 537 | 7 960 | 8 622 | | Book Value Per Share (BVPS) | 41,7 $ | 36,3 $ | 41,2 $ | 46,8 $ | 52,4 $ | 59,4 $ | | Cash Flow per Share | 10,6 $ | 5,03 $ | 16,6 $ | 16,0 $ | 18,3 $ | 21,2 $ | | Announcement Date | 01/31/2011 09:28pm | 02/06/2012 09:05pm | 02/04/2013 09:05pm | - | - | - |
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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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21,8x |
16,8x |
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Capitalization / Revenue
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2,95x |
2,65x |
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EV / Revenue
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3,62x |
3,17x |
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EV / EBITDA
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5,65x |
4,81x |
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Yield (DPS / Price)
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0,40% |
0,40% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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30,6% |
34,6% |
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operating laverage (Delta EBIT / Delta Sales)
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2,29x |
2,29x |
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Net Margin (Net Profit / Revenue)
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13,8% |
15,9% |
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ROA (Net Profit / Asset)
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5,06% |
7,07% |
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ROE (Net Profit / Equities)
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8,85% |
11,3% |
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Rate of Dividend
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8,74% |
6,73% |
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