Five-year overview

All amounts in millions of euros unless otherwise stated. Due to factors such as consolidations and divestments, the amounts, percentages and ratios are not directly comparable.


General data	2005^1,2,3)	2006^1,2,3)	2007³⁾	2008	2009

Sales	25,445	26,682	26,793	26,385	23,189
Percentage increase over previous year	4	5	−	(2)	(12)

Income (loss) from continuing operations	3,598	1,003	5,018	(95)	424
Discontinued operations	(6)	4,154	(138)	3	−
Net income (loss)	3,592	5,157	4,880	(92)	424

Free cash ﬂow	661	(348)	824	773	863
Turnover rate of net operating capital	4.74	3.73	2.71	1.72	1.79
Total employees at year-end (in thousands)	159⁴⁾	122⁴⁾	124⁴⁾	121	116

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated
⁴⁾	Including discontinued operations
⁵⁾	In millions of shares
⁶⁾	In manufacturing excluding new acquisitions


Income	2005^1,2,3)	2006^1,2,3)	2007³⁾	2008	2009

EBIT	1,810	1,336	1,867	54	614
as a % of sales	7.1	5.0	7.0	0.2	2.6

EBITA	1,899	1,528	2,094	744	1,050
as a % of sales	7.5	5.7	7.8	2.8	4.5

Income taxes	(599)	(223)	(582)	(256)	(100)
as a % of income before taxes	(31.2)	(16.3)	(12.3)	(180.2)	(22.3)

Income (loss) from continuing operations	3,598	1,003	5,018	(95)	424
as a % of stockholders’ equity (ROE)	22.3	4.8	22.8	(0.5)	2.9

Net income (loss)	3,592	5,157	4,880	(92)	424

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated


Capital employed	2005^1,2,3)	2006^1,2,3)	2007³⁾	2008	2009

Cash and cash equivalents	5,143	5,886	8,769	3,620	4,386
Receivables and other current assets	4,961	5,502	5,292	5,038	4,610
Assets of discontinued operations	5,512	427	319	−	−
Inventories	2,843	2,940	3,213	3,491	2,913
Non-current ﬁnancial assets/equity-accounted investees	5,889	10,924	5,000	1,624	972
Non-current receivables/assets	4,035	3,905	3,959	2,884	2,871
Property, plant and equipment	3,018	3,102	3,194	3,496	3,252
Intangible assets	3,895	5,964	6,635	11,757	11,523
Total assets	35,296	38,650	36,381	31,910	30,527

Property, plant and equipment:
Capital expenditures for the year	624	698	658	770	524
Depreciation for the year	919	990	562	729	746
Capital expenditures : depreciation	0.7	0.7	1.2	1.1	0.7

Inventories as a % of sales	11.2	11.0	12.0	13.2	12.6
Outstanding trade receivables, in days sales	44	45	44	42	40

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated


Financial structure	2005^1,2,3)	2006^1,2,3)	2007³⁾	2008	2009

Other liabilities	8,717	8,156	7,817	8,708	8,636
Liabilities of discontinued operations	1,719	78	78	−	−
Debt	4,507	3,878	3,563	4,188	4,267
Provisions	2,880	3,304	3,055	3,421	2,980
Total provisions and liabilities	17,823	15,416	14,513	16,317	15,883

Minority interests	353	135	127	49	49
Stockholders’ equity	17,120	23,099	21,741	15,544	14,595

Total equity and liabilities	35,296	38,650	36,381	31,910	30,527

Net debt : group equity ratio	(4):104	(9):109	(31):131	4:96	(1):101

Market capitalization at year-end	31,536	31,624	31,436	12,765	19,170

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated


Key ﬁgures per share	2005^1,2,3)	2006^1,2,3)	2007³⁾	2008	2009

Sales per common share	20.36	22.71	24.67	26.62	25.07
EBITA per common share - diluted	1.52	1.29	1.91	0.75	1.13
Income (loss) from continuing operations per share	2.88	0.85	4.61	(0.09)	0.46
Dividend paid per common share	0.40	0.44	0.60	0.70	0.70
Total shareholder return per common share	7.14	2.76	1.55	(14.99)	7.55
Stockholders’ equity per common share	14.25	20.87	20.41	16.84	15.74
Price/earnings ratio	9.11	33.61	6.40	(153.67)	44.96
Share price at year-end	26.25	28.57	29.52	13.83	20.68
Highest closing share price during the year	26.70	29.31	32.99	28.94	21.03
Lowest closing share price during the year	18.53	21.89	26.71	12.09	10.95
Average share price	21.59	26.57	29.73	21.42	15.26
Common shares outstanding at year-end⁵⁾	1,201	1,107	1,065	923	927
Weighted average shares outstanding
- basic⁵⁾	1,250	1,175	1,086	991	925
- diluted⁵⁾	1,253	1,184	1,099	997	929

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated
⁴⁾	Including discontinued operations
⁵⁾	In millions of shares


Sustainability	2005	2006	2007	2008	2009

Green Product sales, as a % of total sales	−	15.0	19.8	22.6	30.6
Green Innovation spending, in millions of euros	−	−	−	282	409
Operational carbon footprint, in kilotons CO₂-equivalent	−	−	2,135	2,139	1,920
Energy consumption, in TJ⁶⁾	−	15,213	15,171	14,585	14,190
CO₂ emissions in manufacturing, in kilotons CO₂-equivalent⁶⁾	−	869	856	825	814
Water intake, in thousands m³⁶⁾	−	4,171	4,209	3,962	4,219
Total waste, in kilotons⁶⁾	−	125.4	127.6	113.6	97.6
ISO 14001 certiﬁcation %⁶⁾	−	92	90	95	92
Engagement Index, % positive score	−	61	64	69	68
Female executives, in % of total	−	6	8	10	10
Lost Workday Injuries, per 100 FTEs	−	0.78	0.81	0.68	0.44

¹⁾	Discontinued operations reﬂects the effect of the sale of MDS in 2006, for which previous years have been restated
²⁾	Discontinued operations reﬂects the effect of the sale of Semiconductors in 2006, for which previous years have been restated
³⁾	Discontinued operations reﬂects the effect of classifying the MedQuist business as a discontinued operation in 2007, for which previous years have been restated
⁴⁾	Including discontinued operations
⁵⁾	In millions of shares
⁶⁾	In manufacturing excluding new acquisitions