| 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 | 27 208 | 31 097 | 31 377 | 32 307 | 34 084 | 35 605 | | Operating income (EBITDA) | 12 179 | 14 434 | 14 827 | 15 416 | 16 538 | 17 652 | | Operating profit (EBIT) | 11 247 | 13 441 | 13 929 | 14 514 | 15 574 | 16 633 | | Pre-Tax Profit (EBT) | - | - | 12 987 | - | - | - | | Net income | 7 259 | 8 542 | 8 752 | 9 129 | 9 820 | 10 432 | | EPS ( $) | 3,92 | 4,85 | 5,17 | 5,63 | 6,26 | 6,88 | | Dividend per Share ( $) | 2,44 | 2,82 | 3,24 | 3,58 | 3,97 | 4,41 | | Yield | 2,55% | 2,95% | 3,39% | 3,74% | 4,15% | 4,61% | | Announcement Date | 02/10/2011 03:11pm | 02/09/2012 03:10pm | 02/07/2013 03:05pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 14 799 | 15 995 | 19 856 | 21 868 | 24 176 | 26 475 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 12 179 | 14 434 | 14 827 | 15 416 | 16 538 | 17 652 | Leverage (Debt/EBITDA) | 1,22x | 1,11x | 1,34x | 1,42x | 1,46x | 1,50x | | Capital Expenditure | 713 | 897 | 1 056 | 1 105 | 1 186 | 1 217 | | Book Value Per Share (BVPS) | 1,95 $ | 0,13 $ | -2,10 $ | -3,17 $ | -4,79 $ | -6,23 $ | | Cash Flow per Share | 5,12 $ | 6,07 $ | 5,57 $ | 6,54 $ | 7,39 $ | 7,75 $ | | Announcement Date | 02/10/2011 03:11pm | 02/09/2012 03:10pm | 02/07/2013 03:05pm | - | - | - |
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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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17,0x |
15,3x |
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Capitalization / Revenue
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4,84x |
4,59x |
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EV / Revenue
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5,52x |
5,30x |
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EV / EBITDA
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11,6x |
10,9x |
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Yield (DPS / Price)
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3,74% |
4,15% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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44,9% |
45,7% |
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operating laverage (Delta EBIT / Delta Sales)
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1,42x |
1,33x |
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Net Margin (Net Profit / Revenue)
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28,3% |
28,8% |
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ROA (Net Profit / Asset)
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25,8% |
27,2% |
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ROE (Net Profit / Equities)
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-282% |
-201% |
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Rate of Dividend
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63,5% |
63,4% |
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