Financial Highlights 2020 (IFRS)
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2020 |
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2019 |
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Change |
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Operating Highlights (€ in millions) |
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Net sales |
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19,844 |
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23,640 |
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(16%) |
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Gross profit |
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9,855 |
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12,293 |
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(20%) |
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Other operating expenses |
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9,229 |
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9,843 |
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(6%) |
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EBITDA |
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2,079 |
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3,845 |
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(46%) |
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Operating profit |
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751 |
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2,660 |
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(72%) |
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Net income from continuing operations |
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429 |
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1,918 |
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(78%) |
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Net income attributable to shareholders1 |
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432 |
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1,976 |
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(78%) |
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Key Ratios |
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Gross margin |
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49.7% |
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52.0% |
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(2.3pp) |
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Other operating expenses in % of net sales |
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46.5% |
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41.6% |
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4.9pp |
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Operating margin |
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3.8% |
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11.3% |
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(7.5pp) |
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Effective tax rate |
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25.4% |
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25.0% |
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0.3pp |
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Net income attributable to shareholders in % of net sales1 |
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2.2% |
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8.4% |
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(6.2pp) |
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Average operating working capital in % of net sales |
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23.5% |
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18.1% |
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5.4pp |
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Equity ratio2 |
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30.7% |
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32.9% |
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(2.2pp) |
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Adjusted net borrowings/EBITDA |
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1.5 |
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1.1 |
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n.a. |
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Financial leverage2 |
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48.8% |
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61.4% |
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(12.6pp) |
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Return on equity1, 2 |
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6.7% |
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29.1% |
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(22.4pp) |
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Balance Sheet and Cash Flow Data (€ in millions) |
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Total assets |
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21,053 |
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20,680 |
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2% |
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Inventories |
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4,397 |
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4,085 |
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8% |
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Receivables and other current assets |
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3,763 |
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4,338 |
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(13%) |
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Operating working capital |
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3,960 |
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4,007 |
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(1%) |
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Shareholders’ equity |
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6,454 |
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6,796 |
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(5%) |
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Capital expenditure |
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442 |
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711 |
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(38%) |
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Net cash generated from operating activities1 |
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1,486 |
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2,819 |
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(47%) |
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Per Share of Common Stock (€) |
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Basic earnings |
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2.15 |
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9.70 |
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(78%) |
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Diluted earnings |
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2.15 |
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9.70 |
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(78%) |
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Net cash generated from operating activities1 |
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7.62 |
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14.26 |
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(47%) |
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Dividend3 |
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3.00 |
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– |
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n.a. |
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Share price at year-end |
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297.90 |
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289.80 |
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3% |
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Other (at year-end) |
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Number of employees4 |
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62,285 |
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65,194 |
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(4%) |
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Number of shares outstanding |
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195,066,060 |
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195,969,387 |
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0% |
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Average number of shares |
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195,155,924 |
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197,606,107 |
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(1%) |
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