Financial Highlights 2019 (IFRS)
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2019 |
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20181 |
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Change |
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Operating Highlights (€ in millions) |
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Net sales |
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23,640 |
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21,915 |
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8% |
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Gross profit |
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12,293 |
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11,363 |
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8% |
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Other operating expenses |
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9,843 |
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9,172 |
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7% |
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EBITDA |
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3,845 |
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2,882 |
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33% |
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Operating profit |
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2,660 |
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2,368 |
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12% |
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Net income from continuing operations |
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1,918 |
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1,709 |
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12% |
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Net income attributable to shareholders2 |
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1,976 |
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1,702 |
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16% |
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Key Ratios |
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Gross margin |
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52.0% |
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51.8% |
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0.2pp |
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Other operating expenses in % of net sales |
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41.6% |
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41.9% |
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(0.2pp) |
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Operating margin |
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11.3% |
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10.8% |
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0.4pp |
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Effective tax rate |
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25.0% |
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28.1% |
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(3.1pp) |
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Net income attributable to shareholders in % of net sales2 |
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8.4% |
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7.8% |
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0.6pp |
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Average operating working capital in % of net sales |
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18.1% |
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19.0% |
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(0.9pp) |
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Equity ratio3 |
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32.9% |
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40.8% |
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(8.0pp) |
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Net borrowings/EBITDA |
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(0.2) |
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(0.3) |
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n.a. |
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Financial leverage3 |
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(12.8%) |
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(15.0%) |
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2.2pp |
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Return on equity2,3 |
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29.1% |
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26.7% |
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2.4pp |
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Balance Sheet and Cash Flow Data (€ in millions) |
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Total assets |
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20,680 |
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15,612 |
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32% |
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Inventories |
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4,085 |
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3,445 |
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19% |
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Receivables and other current assets |
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4,338 |
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3,734 |
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16% |
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Operating working capital |
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4,007 |
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3,563 |
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12% |
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Net cash |
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873 |
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959 |
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(9%) |
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Shareholders’ equity |
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6,796 |
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6,377 |
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7% |
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Capital expenditure |
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711 |
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794 |
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(11%) |
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Net cash generated from operating activities2 |
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2,819 |
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2,686 |
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5% |
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Per Share of Common Stock (€) |
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Basic earnings |
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9.70 |
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8.46 |
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15% |
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Diluted earnings |
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9.70 |
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8.45 |
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15% |
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Net cash generated from operating activities2 |
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14.26 |
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13.31 |
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7% |
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Dividend |
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3.854 |
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3.35 |
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15% |
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Share price at year-end |
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289.80 |
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182.40 |
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59% |
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Other (at year-end) |
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Number of employees |
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59,533 |
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57,016 |
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4% |
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Number of shares outstanding |
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195,969,387 |
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199,171,345 |
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(2%) |
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Average number of shares |
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197,606,107 |
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201,759,012 |
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(2%) |
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