| 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 | 3 958 | 4 306 | 4 880 | 5 107 | 5 360 | 5 388 | | Operating income (EBITDA) | 2 727 | 3 001 | 3 478 | 3 828 | 4 089 | 4 307 | | Operating profit (EBIT) | 1 744 | 1 935 | 2 221 | 2 269 | 2 412 | 3 219 | | Pre-Tax Profit (EBT) | - | - | 1 736 | 1 419 | 1 532 | - | | Net income | 610 | 1 021 | 1 431 | 1 280 | 1 431 | 3 472 | | EPS ( $) | 2,10 | 3,48 | 4,72 | 3,85 | 4,31 | 6,70 | | Dividend per Share ( $) | 2,60 | 3,50 | 4,10 | 4,72 | 5,16 | 5,43 | | Yield | 1,49% | 2,01% | 2,35% | 2,70% | 2,96% | 3,11% | | Announcement Date | 02/04/2011 12:25pm | 02/03/2012 12:00pm | 02/04/2013 12:08pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 16 677 | 17 648 | 27 150 | 27 132 | 27 437 | 27 369 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 2 727 | 3 001 | 3 478 | 3 828 | 4 089 | 4 307 | Leverage (Debt/EBITDA) | 6,12x | 5,88x | 7,81x | 7,09x | 6,71x | 6,35x | | Capital Expenditure | 256 | 445 | 802 | 563 | 465 | 354 | | Book Value Per Share (BVPS) | 16,3 $ | 15,8 $ | 19,1 $ | 30,5 $ | 26,5 $ | 17,0 $ | | Cash Flow per Share | 5,99 $ | - | 8,29 $ | 7,36 $ | 8,26 $ | 9,36 $ | | Announcement Date | 02/04/2011 12:25pm | 02/03/2012 12:00pm | 02/04/2013 12:08pm | - | - | - |
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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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45,3x |
40,5x |
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Capitalization / Revenue
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10,6x |
10,1x |
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EV / Revenue
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15,9x |
15,2x |
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EV / EBITDA
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21,2x |
19,9x |
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Yield (DPS / Price)
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2,70% |
2,96% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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44,4% |
45,0% |
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operating laverage (Delta EBIT / Delta Sales)
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0,47x |
1,26x |
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Net Margin (Net Profit / Revenue)
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25,1% |
26,7% |
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ROA (Net Profit / Asset)
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3,48% |
3,83% |
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ROE (Net Profit / Equities)
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18,0% |
17,4% |
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Rate of Dividend
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122% |
120% |
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