| 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 | 124 280 | 126 723 | 126 412 | 127 836 | 130 264 | 132 966 | | Operating income (EBITDA) | 42 415 | 40 966 | 41 134 | 41 772 | 43 565 | 45 367 | | Operating profit (EBIT) | 23 036 | 22 589 | 22 997 | 23 472 | 25 067 | 26 378 | | Pre-Tax Profit (EBT) | - | 6 716 | 10 439 | - | - | - | | Net income | 19 864 | 3 944 | 7 264 | 13 789 | 14 520 | 32 824 | | EPS ( $) | 3,35 | 0,66 | 1,25 | 2,54 | 2,72 | 2,94 | | Dividend per Share ( $) | 1,58 | 1,73 | 1,77 | 1,81 | 1,86 | 1,91 | | Yield | 4,28% | 4,68% | 4,79% | 4,90% | 5,02% | 5,16% | | Announcement Date | 01/27/2011 12:09pm | 01/26/2012 12:30pm | 01/24/2013 09:01pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 64 730 | 61 568 | 64 976 | 74 036 | 75 091 | 75 653 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 42 415 | 40 966 | 41 134 | 41 772 | 43 565 | 45 367 | Leverage (Debt/EBITDA) | 1,53x | 1,50x | 1,58x | 1,77x | 1,72x | 1,67x | | Capital Expenditure | 19 530 | 20 272 | 19 465 | 20 813 | 20 447 | 20 414 | | Book Value Per Share (BVPS) | 19,0 $ | 17,9 $ | 16,6 $ | 16,1 $ | 16,7 $ | 17,3 $ | | Cash Flow per Share | 5,89 $ | 5,82 $ | 6,73 $ | 6,20 $ | 6,24 $ | 6,35 $ | | Announcement Date | 01/27/2011 12:09pm | 01/26/2012 12:30pm | 01/24/2013 09:01pm | - | - | - |
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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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14,6x |
13,6x |
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Capitalization / Revenue
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1,55x |
1,53x |
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EV / Revenue
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2,13x |
2,10x |
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EV / EBITDA
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6,53x |
6,29x |
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Yield (DPS / Price)
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4,90% |
5,02% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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18,4% |
19,2% |
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operating laverage (Delta EBIT / Delta Sales)
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1,83x |
3,58x |
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Net Margin (Net Profit / Revenue)
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10,8% |
11,1% |
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ROA (Net Profit / Asset)
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5,90% |
6,20% |
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ROE (Net Profit / Equities)
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15,4% |
16,6% |
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Rate of Dividend
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71,3% |
68,3% |
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