| 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 | 13 339 | 16 258 | 15 303 | 15 863 | 16 197 | 17 050 | | Operating income (EBITDA) | 3 753 | 4 176 | 4 187 | 4 484 | 4 476 | 4 841 | | Operating profit (EBIT) | 2 285 | 2 525 | 3 131 | 2 945 | 3 000 | 3 349 | | Pre-Tax Profit (EBT) | - | 1 443 | 1 324 | - | - | - | | Net income | 784 | 885 | 770 | 1 211 | 1 272 | 1 490 | | EPS ( $) | 2,57 | 2,21 | 1,84 | 2,90 | 3,03 | 3,53 | | Dividend per Share ( $) | 2,20 | 2,20 | 2,20 | 2,20 | 2,20 | 2,21 | | Yield | 5,16% | 5,16% | 5,16% | 5,16% | 5,16% | 5,18% | | Announcement Date | 02/16/2011 01:30pm | 02/28/2012 09:28pm | 02/25/2013 01:30pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 13 746 | 17 135 | 3 796 | 19 907 | 20 374 | 20 824 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 3 753 | 4 176 | 4 187 | 4 484 | 4 476 | 4 841 | Leverage (Debt/EBITDA) | 3,66x | 4,10x | 0,91x | 4,44x | 4,55x | 4,30x | | Capital Expenditure | 1 963 | 2 278 | 2 964 | 2 492 | 2 551 | 2 473 | | Book Value Per Share (BVPS) | 22,8 $ | 31,8 $ | 31,3 $ | 32,2 $ | 32,8 $ | 33,7 $ | | Cash Flow per Share | 10,1 $ | 7,64 $ | 5,54 $ | 6,95 $ | 7,05 $ | 7,53 $ | | Announcement Date | 02/16/2011 01:30pm | 02/28/2012 09:28pm | 02/25/2013 01:30pm | - | - | - |
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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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14,7x |
14,1x |
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Capitalization / Revenue
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1,12x |
1,10x |
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EV / Revenue
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2,38x |
2,36x |
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EV / EBITDA
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8,41x |
8,53x |
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Yield (DPS / Price)
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5,16% |
5,16% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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18,6% |
18,5% |
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operating laverage (Delta EBIT / Delta Sales)
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- |
0,89x |
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Net Margin (Net Profit / Revenue)
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7,63% |
7,85% |
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ROA (Net Profit / Asset)
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2,67% |
2,80% |
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ROE (Net Profit / Equities)
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9,20% |
9,37% |
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Rate of Dividend
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75,9% |
72,5% |
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