| 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 | 35 123 | 46 554 | 48 032 | 48 606 | 50 960 | 53 474 | | Operating income (EBITDA) | 11 022 | 13 004 | 13 232 | 14 069 | 15 051 | 16 084 | | Operating profit (EBIT) | 9 579 | 11 050 | 11 250 | 12 024 | 12 841 | 13 737 | | Pre-Tax Profit (EBT) | - | - | 11 809 | - | - | - | | Net income | 11 809 | 8 572 | 9 019 | 9 487 | 10 285 | 10 986 | | EPS ( $) | 2,53 | 1,85 | 1,97 | 2,10 | 2,33 | 2,53 | | Dividend per Share ( $) | 0,88 | 0,94 | 1,02 | 1,14 | 1,20 | 1,32 | | Yield | 2,08% | 2,22% | 2,41% | 2,69% | 2,82% | 3,13% | | Announcement Date | 02/09/2011 12:30pm | 02/07/2012 12:35pm | 02/12/2013 12:30pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 2 971 | 14 533 | 19 151 | 21 273 | 20 971 | 19 950 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 11 022 | 13 004 | 13 232 | 14 069 | 15 051 | 16 084 | Leverage (Debt/EBITDA) | 0,27x | 1,12x | 1,45x | 1,51x | 1,39x | 1,24x | | Capital Expenditure | 2 215 | 2 920 | 2 780 | 2 872 | 3 011 | 3 102 | | Book Value Per Share (BVPS) | 6,77 $ | 6,99 $ | 7,34 $ | 7,45 $ | 7,92 $ | 8,42 $ | | Cash Flow per Share | 2,05 $ | 2,04 $ | 2,32 $ | 2,54 $ | 2,81 $ | 3,07 $ | | Announcement Date | 02/09/2011 12:30pm | 02/07/2012 12:35pm | 02/12/2013 12:30pm | - | - | - |
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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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20,1x |
18,2x |
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Capitalization / Revenue
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3,88x |
3,70x |
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EV / Revenue
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4,32x |
4,11x |
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EV / EBITDA
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14,9x |
13,9x |
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Yield (DPS / Price)
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2,69% |
2,82% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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24,7% |
25,2% |
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operating laverage (Delta EBIT / Delta Sales)
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5,76x |
1,40x |
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Net Margin (Net Profit / Revenue)
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19,5% |
20,2% |
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ROA (Net Profit / Asset)
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10,8% |
11,5% |
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ROE (Net Profit / Equities)
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28,9% |
30,8% |
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Rate of Dividend
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54,2% |
51,4% |
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