Financial highlights
In Q2, volumes were positive in all three Business Areas. Revenue was down 4 percent, mainly due to 5 percent adverse currency effects. Operating income of €353 million was up 10 percent (2013: €322 million), reflecting increased volumes and improvement actions. Return on sales improved from 8.3 percent to 9.5 percent. Excluding restructuring costs, ROS was 10.7 percent (2013: 9.3 percent). Net cash inflow from operating activities was €393 million (2013: €261 million).
Summary of financial outcomes
|
2nd quarter |
|
|
|
January - June |
||||||||||
|
2013 |
2014 |
Δ% |
in € millions |
2013 |
2014 |
Δ% |
||||||||
|
||||||||||||||
|
3,865 |
3,710 |
(4) |
Revenue |
7,330 |
7,093 |
(3) |
||||||||
|
322 |
353 |
10 |
Operating income |
539 |
569 |
6 |
||||||||
|
8.3 |
9.5 |
|
ROS% |
7.4 |
8.0 |
|
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|
|
|
|
|
|
|
|
||||||||
|
|
|
|
Average invested capital |
10,706 |
9,784 |
|
||||||||
|
|
|
|
Moving average ROI (in %)* |
7.7 |
10.1 |
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
474 |
509 |
7 |
EBITDA |
849 |
873 |
3 |
||||||||
|
168 |
150 |
|
Capital expenditures |
299 |
265 |
|
||||||||
|
261 |
393 |
|
Net cash from operating activities |
(145) |
(159) |
|
||||||||
|
|
|
|
Net debt |
2,197 |
2,129 |
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
308 |
206 |
|
Net income from continuing operations |
404 |
332 |
(18) |
||||||||
|
121 |
(1) |
|
Net income from discontinued operations |
114 |
2 |
|
||||||||
|
429 |
205 |
|
Net income attributable to shareholders |
518 |
334 |
(36) |
||||||||
|
1.78 |
0.84 |
|
Earnings per share from total operations (in €) |
2.15 |
1.37 |
|
||||||||
|
1.37 |
0.95 |
|
Adjusted earnings per share (in €) |
1.89 |
1.56 |
|
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|
|
|
|
Number of employees |
50,500 |
48,440 |
|
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