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Financial highlights


Revenue for the year was up 5 percent driven by favorable currencies and pricing offset by lower volumes. EBITDA for the year was 4 percent higher at €1,901 million (2011: €1,834 million). The performance improvement program exceeded intermediate targets. As a consequence of the impairment charge of €2,106 million in Q3, operating income was €1,244 million negative; excluding the impairment charge, this was €862 million positive (2011: €1,145 million).

Summary of financial outcomes

4th quarter

 

 

 

 

 

January - December

2011

 

2012

 

Δ%

 

in € millions

 

2011

 

2012

 

Δ%

1

Excluding incidentals.

3,549

 

3,673

 

3

 

Revenue

 

14,604

 

15,390

 

5

352

 

363

 

3

 

EBITDA1

 

1,834

 

1,901

 

4

9.9

 

9.9

 

 

 

EBITDA margin (in %)

 

12.6

 

12.4

 

 

198

 

202

 

2

 

EBIT1

 

1,271

 

1,276

 

5.6

 

5.5

 

 

 

EBIT margin (in %)

 

8.7

 

8.3

 

 

 

 

 

 

 

 

Moving average ROI1 (in %)

 

10.5

 

10.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

107

 

7

 

 

 

Operating income

 

1,145

 

(1,244)

 

 

107

 

7

 

 

 

Operating income before impairment

 

1,145

 

862

 

(25)

(16)

 

(37)

 

 

 

Net income from continuing operations

 

536

 

(1,733)

 

 

(52)

 

(22)

 

 

 

Net income from discontinued operations

 

(59)

 

(436)

 

 

(68)

 

(59)

 

 

 

Net income total operations

 

477

 

(2,169)

 

 

(0.07)

 

(0.16)

 

 

 

Earnings per share from continuing operations (in €)

 

2.29

 

(7.30)

 

 

(0.29)

 

(0.25)

 

 

 

Earnings per share from total operations (in €)

 

2.04

 

(9.14)

 

 

0.34

 

0.50

 

 

 

Adjusted earnings per share (in €)

 

3.10

 

3.26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

242

 

330

 

36

 

Capital expenditures

 

658

 

826

 

26

256

 

630

 

146

 

Net cash from operating activities

 

396

 

737

 

86

 

 

 

 

 

 

Invested capital

 

12,613

 

11,030

 

 

 

 

 

 

 

 

Net debt

 

1,895

 

2,298

 

 

 

 

 

 

 

 

Number of employees

 

52,020

 

50,610

 

 

Discontinued operations

 

 

January - December

in € millions

 

2011

 

2012

Revenue

 

1,094

 

1,190

EBITDA

 

(69)

 

19

Performance improvement program savings

 

 

26

Incidentals

 

(7)

 

(17)

Impairment charge

 

 

(372)

Workforce at year-end

 

5,220

 

4,670

Reduction workforce

 

 

360

Copyright © 2013 Akzo Nobel N.V.