Financial highlights

Revenue was up 6 percent, due to 8 percent favorable currency effects, offset by adverse volume of 2 percent. Operating income was €306 million (2014: €216 million), reflecting the effects of process optimization efforts, reduced restructuring expenses, lower costs and favorable currency effects. ROS improved to 8.5 percent and ROI improved to 10.6 percent.

The market trend in North America continued to be positive, while Europe did not improve. Markets remained challenging in many countries, including Russia, Brazil and China.

Summary of financial outcomes

First quarter

 

 

 

 

 

 

in € millions

 

2014

 

2015

 

∆%

Revenue

 

3,383

 

3,591

 

6

Operating income

 

216

 

306

 

42

ROS (in %)

 

6.4

 

8.5

 

 

 

 

 

 

 

 

 

Average invested capital

 

9,820

 

10,137

 

 

Moving average ROI (in %)

 

9.7

 

10.6

 

 

 

 

 

 

 

 

 

EBITDA

 

364

 

462

 

27

Capital expenditures

 

115

 

123

 

 

Net cash from operating activities

 

(552)

 

(622)

 

(13)

Net debt

 

2,186

 

2,278

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

126

 

163

 

29

Net income from discontinued operations

 

3

 

(3)

 

 

Net income attributable to shareholders

 

129

 

160

 

24

Earnings per share from total operations (in €)

 

0.53

 

0.65

 

23

Adjusted earnings per share (in €)

 

0.61

 

0.76

 

25

Number of employees

 

48,500

 

46,400

 

(4)