Revenue for the year 2011 was up 7 percent, mainly due to pricing actions to offset raw material cost inflation. However, weaker end markets and cost inflation adversely impacted our results in 2011. The performance improvement program to deliver €500 million EBITDA in 2014 is on track and we are confident that this will bring us in line with our medium-term ambitions.
|
Continuing operations before incidentals | ||||||
|
4th quarter |
|
|
January - December |
| ||
|
2010 |
2011 |
Δ% |
in € millions |
2010 |
2011 |
Δ% |
|
3,620 |
3,787 |
5 |
Revenue |
14,640 |
15,697 |
7 |
|
377 |
301 |
(20) |
EBITDA |
1,964 |
1,796 |
(9) |
|
10.4 |
7.9 |
|
EBITDA margin (in %) |
13.4 |
11.4 |
|
|
222 |
133 |
(40) |
EBIT |
1,374 |
1,175 |
(14) |
|
6.1 |
3.5 |
|
EBIT margin (in %) |
9.4 |
7.5 |
|
|
|
|
|
Moving average ROI (in %) |
10.8 |
8.9 |
|
|
|
|
|
Operating ROI (in %) |
27.7 |
22.3 |
|
|
0.82 |
0.17 |
|
Adjusted earnings per share (in €) |
3.71 |
2.91 |
|
|
|
|
|
|
|
|
|
|
After incidentals | ||||||
|
4th quarter |
|
|
January - December |
| ||
|
2010 |
2011 |
Δ% |
in € millions |
2010 |
2011 |
Δ% |
|
159 |
36 |
(77) |
Operating income |
1,219 |
1,042 |
(15) |
|
130 |
(62) |
|
Net income/(loss) from continuing operations |
664 |
469 |
(29) |
|
32 |
(6) |
|
Net income/(loss) from discontinued operations |
90 |
8 |
|
|
162 |
(68) |
|
Net income/(loss) total operations |
754 |
477 |
(37) |
|
0.55 |
(0.26) |
|
Earnings per share from continuing operations (in €) |
2.85 |
2.01 |
|
|
0.69 |
(0.29) |
|
Earnings per share from total operations (in €) |
3.23 |
2.04 |
|
|
|
|
|
|
|
|
|
|
198 |
256 |
|
Capital expenditures |
534 |
708 |
|
|
275 |
270 |
|
Net cash from operating activities |
519 |
325 |
|
|
|
|
|
Interest coverage |
6.4 |
4.3 |
|
|
|
|
|
Invested capital |
12,718 |
13,708 |
|
|
|
|
|
Net debt |
936 |
1,895 |
|
|
|
|
|
Number of employees |
55,590 |
57,240 |
|