Financial Highlights 2022 (IFRS)
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2022 |
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2021 |
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Change |
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Operating Highlights (€ in millions) |
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Net sales1 |
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22,511 |
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21,234 |
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6% |
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Gross profit1 |
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10,644 |
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10,765 |
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(1%) |
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Other operating expenses1 |
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10,260 |
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8,892 |
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15% |
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EBITDA1 |
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1,874 |
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3,066 |
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(39%) |
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Operating profit1 |
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669 |
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1,986 |
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(66%) |
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Net income from continuing operations1 |
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254 |
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1,492 |
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(83%) |
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Net income attributable to shareholders |
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612 |
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2,116 |
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(71%) |
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Key Ratios |
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Gross margin1 |
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47.3% |
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50.7% |
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(3.4pp) |
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Other operating expenses in % of net sales1 |
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45.6% |
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41.9% |
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3.7pp |
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Operating margin1 |
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3.0% |
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9.4% |
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(6.4pp) |
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Effective tax rate1 |
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34.5% |
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19.4% |
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15.0pp |
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Net income attributable to shareholders in % of net sales1 |
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2.7% |
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10.0% |
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(7.2pp) |
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Average operating working capital in % of net sales1 |
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24.0% |
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20.0% |
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4.0pp |
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Equity ratio2 |
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24.6% |
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34.0% |
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(9.4pp) |
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Adjusted net borrowings/EBITDA1 |
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3.2 |
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0.7 |
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n.a. |
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Financial leverage2 |
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121.2% |
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27.7% |
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93.5pp |
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Return on equity2 |
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12.3% |
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28.1% |
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(15.9pp) |
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Balance Sheet and Cash Flow Data (€ in millions) |
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Total assets |
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20,296 |
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22,137 |
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(8%) |
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Inventories |
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5,973 |
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4,009 |
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49% |
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Receivables and other current assets |
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4,961 |
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4,072 |
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22% |
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Operating working capital |
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5,594 |
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3,890 |
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44% |
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Shareholders’ equity |
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4,991 |
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7,519 |
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(34%) |
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Capital expenditure |
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695 |
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667 |
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4% |
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Net cash (used in)/generated from operating activities1 |
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(458) |
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2,873 |
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n.a. |
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Per Share of Common Stock (€) |
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Basic earnings1 |
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1.25 |
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7.47 |
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(83%) |
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Diluted earnings1 |
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1.25 |
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7.47 |
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(83%) |
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Net cash (used in)/generated from operating activities1 |
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(2.50) |
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14.79 |
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n.a. |
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Dividend3 |
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0.70 |
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3.30 |
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(79%) |
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Share price at year-end |
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127.46 |
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253.20 |
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(50%) |
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Other (at year-end) |
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Number of employees |
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59,258 |
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61,401 |
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(3%) |
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Number of shares outstanding |
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178,537,198 |
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191,594,855 |
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(7%) |
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Average number of shares |
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183,263,629 |
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194,172,984 |
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(6%) |
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