Economic Results
| (euro million) | 2019 | 2020 | 2021 | 2022 | 2023 | % 23/22 |
|---|---|---|---|---|---|---|
| Sales | 2,591.7 | 2,208.6 | 2,777.6 | 3,629.0 | 3,849.2 | +6.1% |
Gross operating income % on sales | 515.2
| 388.7
| 502.7
| 625.2
| 665.8
| +6.5% |
| Net operating income % on sales | 318.5 12.3% | 181.1
| 288.0 10.4% | 382.8 10.5% | 414.1 10.8% | +8.2% |
Result before taxes % on sales | 307.7 11.9% | 156.0 7.1% | 286.8 10.3% | 382.2 10.5% | 392.0 10.2% | +2.6% |
Net Result
| 231.3 8.9% | 136.5 6.2% | 215.5 7.8% | 292.8 8.1% | 305.0 7.9% | +4.2% |
Main Ratios
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Net operating income / sales | 12.3% | 8.2% | 10.4% | 10.5% | 10.8% |
| Result before taxes / sales | 11.9% | 7.1% | 10.3% | 10.5% | 10.2% |
| Net Investments / sales | 8.1% | 6.8% | 7.6% | 7.8% | 10.7% |
| Net financial debt / Equity | 24.9% | 26.0% | 22.9% | 25.8% | 21.7% |
| Adjusted net interest expense** / sales | 0.6% | 0.8% | 0.3% | 0.4% | 0.5% |
| Adjusted net interest expense** / net operating income | 4.5% | 9.4% | 3.4% | 3.4% | 4.9% |
| R.O.I. | 18.1% | 9.6% | 12.9% | 15.5% | 16.0% |
| R.O.E. | 17.3% | 9.3% | 12.0% | 15.1% | 14.6% |
* This item does not include exchange gains and losses.
Personnel And Capital Expediture
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Employees at year-end (No.) | 10,868 | 11,039 | 12,225 | 12,956 | 13,654 |
| Turnover per employee (euro thousand) | 238.5 | 200.1 | 227.2 | 280.1 | 281.9 |
| Net Investments* (euro million) | 210.4 | 150.2 | 210.0 | 282.1 | 412.2 |
* Net investments in property, plant, equipment and intangible assets, calculated as the sum total of increases (net of decreases) of property, plant, equipment and intangible assets.
Financial Results
| (euro million) | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Net invested capital | 1,758.6 | 1,891.5 | 2,231.3 | 2,472.8 | 2,590.6 |
| Shareholders' equity | 1,388.0 | 1,481.0 | 1,796.1 | 1,947.0 | 2,099.4 |
| Net financial debt excluding IFRS 16 | 150.2 | 175.8 | 185.3 | 260.8 | 283.6 |
| Net financial debt | 346.2 | 384.7 | 411.8 | 502.0 | 454.8 |