| 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 | 2 511 | 2 672 | 2 324 | 2 387 | 2 501 | 2 592 | | Operating income (EBITDA) | 1 114 | 1 286 | 1 029 | 1 123 | 1 264 | 1 349 | | Operating profit (EBIT) | 833 | 1 006 | 769 | 869 | 1 027 | 1 118 | | Pre-Tax Profit (EBT) | - | - | 470 | - | - | - | | Net income | 577 | 619 | 348 | 528 | 662 | 722 | | EPS ( $) | 2,20 | 2,36 | 1,39 | 2,17 | 2,75 | 3,04 | | Dividend per Share ( $) | 1,20 | 1,20 | 1,20 | 1,20 | 1,21 | 1,25 | | Yield | 2,90% | 2,90% | 2,90% | 2,90% | 2,93% | 3,01% | | Announcement Date | 02/08/2011 07:30am | 02/10/2012 06:33am | 02/05/2013 10:59am | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 2 113 | 1 679 | 2 172 | 2 029 | 1 870 | - | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 1 114 | 1 286 | 1 029 | 1 123 | 1 264 | 1 349 | Leverage (Debt/EBITDA) | 1,90x | 1,31x | 2,11x | 1,81x | 1,48x | - | | Capital Expenditure | 305 | 170 | 191 | 186 | 198 | 205 | | Book Value Per Share (BVPS) | 26,0 $ | 25,5 $ | 26,2 $ | 27,5 $ | 29,6 $ | 29,7 $ | | Cash Flow per Share | 2,13 $ | 3,80 $ | 2,54 $ | 3,34 $ | 4,05 $ | 4,54 $ | | Announcement Date | 02/08/2011 07:30am | 02/10/2012 06:33am | 02/05/2013 10:59am | - | - | - |
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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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19,1x |
15,0x |
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Capitalization / Revenue
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4,21x |
4,02x |
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EV / Revenue
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5,06x |
4,76x |
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EV / EBITDA
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10,8x |
9,43x |
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Yield (DPS / Price)
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2,90% |
2,93% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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36,4% |
41,1% |
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operating laverage (Delta EBIT / Delta Sales)
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4,79x |
3,80x |
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Net Margin (Net Profit / Revenue)
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22,1% |
26,5% |
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ROA (Net Profit / Asset)
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5,44% |
7,13% |
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ROE (Net Profit / Equities)
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12,7% |
10,3% |
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Rate of Dividend
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55,3% |
44,1% |
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