Financial highlights

Revenue was up 2 percent, due to 4 percent favorable currency effects, offset by divestments and slightly lower volumes. Operating income was €436 million (2014: €335 million); up 30 percent, reflecting the positive effects of process optimization, lower costs, reduced restructuring expenses and favorable currency developments. ROS improved from 9.1 percent to 11.6 percent and ROI improved to 12.5 percent (2014: 10.5 percent). Net cash inflow from operating activities was €583 million (2014: €489 million).

The market trend in North America continued to be positive in some segments with Europe not improving overall. Conditions remain challenging in many other countries, including Russia, Brazil and China.

Summary of financial outcomes

Third quarter

 

 

 

January-September

2014

 

2015

 

∆%

 

in € millions

 

2014

 

2015

 

∆%

Overall targets for the full-year 2015 are 9.0 percent return on sales and 14.0 percent return on investment

3,686

 

3,760

 

2

 

Revenue

 

10,779

 

11,300

 

5

335

 

436

 

30

 

Operating income

 

904

 

1,228

 

36

335

 

436

 

30

 

Operating income excluding incidental items

 

904

 

1,194

 

32

9.1

 

11.6

 

 

 

ROS%

 

8.4

 

10.9

 

 

9.1

 

11.6

 

 

 

ROS excl. incidental items (in %)

 

8.4

 

10.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average invested capital

 

9,752

 

10,449

 

 

 

 

 

 

 

 

Moving average ROI (in %)

 

10.5

 

12.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

487

 

590

 

21

 

EBITDA

 

1,360

 

1,662

 

22

137

 

163

 

 

 

Capital expenditures

 

402

 

423

 

 

489

 

583

 

 

 

Net cash from operating activities

 

330

 

368

 

 

 

 

 

 

 

 

Net debt

 

1,801

 

1,727

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

203

 

284

 

40

 

Net income from continuing operations

 

535

 

779

 

46

2

 

1

 

 

 

Net income from discontinued operations

 

4

 

(3)

 

 

205

 

285

 

39

 

Net income attributable to shareholders

 

539

 

776

 

44

0.84

 

1.15

 

 

 

Earnings per share from total operations (in €)

 

2.21

 

3.14

 

 

0.92

 

1.24

 

35

 

Adjusted earnings per share (in €)

 

2.48

 

3.30

 

33

 

 

 

 

 

 

Number of employees

 

48,000

 

45,800