| 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 | 53 674 | 59 985 | 56 786 | 57 531 | 59 857 | 62 774 | | Operating income (EBITDA) | 7 522 | 8 391 | 7 453 | 8 292 | 9 148 | 9 618 | | Operating profit (EBIT) | 4 560 | 5 508 | 4 755 | 5 467 | 6 256 | 6 991 | | Pre-Tax Profit (EBT) | - | 3 601 | 1 665 | - | - | - | | Net income | 1 970 | 2 402 | 842 | 2 633 | 3 305 | 3 481 | | EPS ( $) | 1,72 | 2,05 | 0,70 | 2,21 | 2,82 | 3,22 | | Dividend per Share ( $) | 0,60 | 0,90 | 1,21 | 1,23 | 1,35 | 1,38 | | Yield | 1,68% | 2,53% | 3,40% | 3,45% | 3,79% | 3,87% | | Announcement Date | 02/03/2011 11:30am | 02/02/2012 12:09pm | 01/31/2013 12:00pm | - | - | - |
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Actuals in M $ |
Estimates in M $ |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | 16 788 | 16 156 | 16 669 | 16 980 | 15 600 | 13 001 | | Finance | - | - | - | - | - | - | | Operating income (EBITDA) | 7 522 | 8 391 | 7 453 | 8 292 | 9 148 | 9 618 | Leverage (Debt/EBITDA) | 2,23x | 1,93x | 2,24x | 2,05x | 1,71x | 1,35x | | Capital Expenditure | 2 130 | 2 687 | 2 614 | 1 999 | 2 500 | 2 688 | | Book Value Per Share (BVPS) | 15,3 $ | 15,4 $ | 14,0 $ | 17,5 $ | 18,9 $ | 20,5 $ | | Cash Flow per Share | 3,59 $ | 3,35 $ | 3,46 $ | 4,27 $ | 4,94 $ | 5,59 $ | | Announcement Date | 02/03/2011 11:30am | 02/02/2012 12:09pm | 01/31/2013 12:00pm | - | - | - |
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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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16,1x |
12,6x |
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Capitalization / Revenue
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0,75x |
0,72x |
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EV / Revenue
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1,04x |
0,98x |
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EV / EBITDA
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7,24x |
6,41x |
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Yield (DPS / Price)
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3,45% |
3,79% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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9,50% |
10,5% |
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operating laverage (Delta EBIT / Delta Sales)
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11,4x |
3,57x |
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Net Margin (Net Profit / Revenue)
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4,58% |
5,52% |
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ROA (Net Profit / Asset)
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5,00% |
5,69% |
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ROE (Net Profit / Equities)
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14,7% |
17,1% |
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Rate of Dividend
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55,5% |
47,9% |
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