Financial Highlights 2023 (IFRS)
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2023 |
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2022 |
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Change |
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Operating Highlights (€ in millions) |
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Net sales |
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21,427 |
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22,511 |
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(5%) |
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Gross profit |
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10,184 |
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10,644 |
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(4%) |
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Other operating expenses |
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10,070 |
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10,260 |
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(2%) |
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EBITDA |
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1,358 |
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1,874 |
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(28%) |
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Operating profit |
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268 |
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669 |
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(60%) |
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Net (loss)/income from continuing operations |
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(58) |
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254 |
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n.a. |
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Net (lossI)/income attributable to shareholders |
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(75) |
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612 |
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n.a. |
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Key Ratios |
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Gross margin |
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47.5% |
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47.3% |
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0.2pp |
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Other operating expenses in % of net sales |
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47.0% |
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45.6% |
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1.4pp |
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Operating margin |
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1.3% |
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3.0% |
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(1.7pp) |
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Effective tax rate |
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189.2% |
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34.5% |
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154.9pp |
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Net (loss)/income attributable to shareholders in % of net sales |
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(0.4%) |
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2.7% |
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n.a. |
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Average operating working capital in % of net sales |
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25.7% |
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24.0% |
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1.6pp |
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Equity ratio1 |
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25.4% |
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24.6% |
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0.8pp |
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Adjusted net borrowings/EBITDA |
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3.3 |
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3.2 |
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0.1 |
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Financial leverage1 |
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98.6% |
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121.2% |
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(22.5pp) |
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Return on equity1 |
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(1.6%) |
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12.3% |
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n.a. |
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Balance Sheet and Cash Flow Data (€ in millions) |
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Total assets |
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18,020 |
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20,296 |
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(11%) |
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Inventories |
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4,525 |
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5,973 |
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(24%) |
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Receivables and other current assets |
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3,819 |
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4,961 |
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(23%) |
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Operating working capital |
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4,154 |
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5,594 |
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(26%) |
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Shareholders’ equity |
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4,580 |
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4,991 |
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(8%) |
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Capital expenditure |
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504 |
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695 |
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(27%) |
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Net cash generated from/(used in) operating activities2 |
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2,630 |
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(394) |
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n.a. |
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Per Share of Common Stock (€) |
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Basic earnings |
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(0.67) |
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1.25 |
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n.a. |
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Diluted earnings |
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(0.67) |
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1.25 |
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n.a. |
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Net cash generated from/(used in) operating activities2 |
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14.73 |
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(2.15) |
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n.a. |
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Dividend3 |
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0.70 |
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0.70 |
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0% |
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Share price at year-end |
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184.16 |
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127.46 |
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44% |
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Other (at year-end) |
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Number of employees |
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59,030 |
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59,258 |
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0% |
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Number of shares outstanding |
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178,549,084 |
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178,537,198 |
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0% |
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Average number of shares |
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178,543,596 |
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183,263,629 |
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(3%) |
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