Historical Overview

Consolidated Statement of Income

IFRSNL GAAP*
Millions of Euros2007200620052004200320022001
Revenues10,21710,02313,00012,83313,10614,05914,158
Operating income7478591,4861,5271,0641,3621,198
Financing income and expenses(120)(106)(156)(144)(166)(204)(257)
Income tax(166)(96)(338)(412)(254)(335)(294)
Results from associates and joint ventures(20)(87)(6)(10)(7)(30)(55)
Profit for the period441744998981651853702
Minority interest, attributable to minority shareholders(31)(29)(37)
____
(36)
____
(49)
____
(35)
____
(31)
____
Discontinued operations8,920438
Net income, attributable to the shareholders9,3301,153961945602818671
EBITDA1,1021,2302,0552,0921,7162,0431,872
Common shares, in millions at December 31262.3287.0285.8285.8285.7285.7285.9
Dividend472344343343343343343
Per common share, in EUR
Net income33.824.023.363.312.112.862.35
Dividend1.801.201.201.201.201.201.20
Shareholders’ equity42.0614.4411.959.128.767.3410.07
Number of employees at December 3142,60042,70061,30061,40064,60067,90066,300
Salaries, wages, and social charges2,2152,1583,2213,2163,5053,5523,416
Ditto, as % of revenues21.721.524.825.126.725.324.1
Ratios
Operating income as percentage of revenues7.38.611.411.98.19.78.5
Operating income as percentage of invested capital14.015.819.320.012.715.112.8
Net income as percentage of shareholders’ equity122.930.532.040.626.232.924.1
Interest coverage6.28.19.510.66.46.74.7
EBITDA coverage9.211.613.214.510.310.07.3
Share price
Highest66.5649.4140.1833.7932.4454.5057.85
Lowest44.4138.3030.8224.8716.0027.2533.73
Year-end54.7946.1839.1531.3830.6030.2350.15

*The 2001 - 2003 figures have not been restated to IFRS accounting standards. The differences mainly relate to pensions and other postretirement benefits, the recognition of deferred taxes on intercompany profit, and the recognition of goodwill. For the most part, the changed accounting is a matter of timing of the recognition of the assets, liabilities and related results.