Financial Highlights 2025 (IFRS)
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|
2025 |
|
2024 |
|
Change |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Highlights (€ in millions) |
|
|
|
|
|
|
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Net sales |
|
24,811 |
|
23,683 |
|
5% |
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Gross profit |
|
12,804 |
|
12,026 |
|
6% |
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Other operating expenses |
|
10,871 |
|
10,945 |
|
(1%) |
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EBITDA |
|
3,124 |
|
2,465 |
|
27% |
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Operating profit |
|
2,056 |
|
1,337 |
|
54% |
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Net income from continuing operations |
|
1,377 |
|
824 |
|
67% |
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Net income attributable to shareholders |
|
1,340 |
|
764 |
|
75% |
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Key Ratios |
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|
|
|
|
|
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Gross margin |
|
51.6% |
|
50.8% |
|
0.8pp |
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Other operating expenses in % of net sales |
|
31.4% |
|
34.2% |
|
(2.8pp) |
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Operating margin |
|
8.3% |
|
5.6% |
|
2.6pp |
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Effective tax rate |
|
24.3% |
|
26.5% |
|
(2.2pp) |
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Net income attributable to shareholders in % of net sales |
|
5.4% |
|
3.2% |
|
2.2pp |
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Average operating working capital in % of net sales |
|
23.0% |
|
19.7% |
|
3.3pp |
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Equity ratio1 |
|
28.5% |
|
26.5% |
|
2.0pp |
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Adjusted net borrowings/EBITDA |
|
1.4 |
|
1.5 |
|
(0.1) |
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Financial leverage1 |
|
75.0% |
|
66.1% |
|
8.8pp |
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Return on equity1 |
|
23.2% |
|
14.0% |
|
9.3pp |
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Balance Sheet and Cash Flow Data (€ in millions) |
|
|
|
|
|
|
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Total assets |
|
20,262 |
|
20,655 |
|
(2%) |
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Inventories |
|
5,832 |
|
4,989 |
|
17% |
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Receivables and other current assets |
|
4,528 |
|
4,460 |
|
2% |
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Operating working capital |
|
5,556 |
|
4,306 |
|
29% |
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Shareholders’ equity |
|
5,776 |
|
5,476 |
|
5% |
||||||||
Capital expenditure |
|
477 |
|
540 |
|
(12%) |
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Cash flows from operating activities2 |
|
751 |
|
2,910 |
|
(74%) |
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Per Share of Common Stock (€) |
|
|
|
|
|
|
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Basic earnings |
|
7.46 |
|
4.24 |
|
76% |
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Diluted earnings |
|
7.46 |
|
4.24 |
|
76% |
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Cash flows from operating activities2 |
|
4.21 |
|
16.30 |
|
(74%) |
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Dividend3 |
|
2.80 |
|
2.00 |
|
40% |
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Share price at end of period |
|
169.05 |
|
236.80 |
|
(29%) |
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Other (at end of period) |
|
|
|
|
|
|
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Number of employees |
|
64,938 |
|
62,035 |
|
5% |
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Number of shares outstanding |
|
178,665,018 |
|
178,549,084 |
|
0% |
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Average number of shares |
|
178,559,220 |
|
178,549,084 |
|
0% |
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