 Strong Growth, Outperforming Targets
- Sales: up 18.5% to EUR41,596 million; up 18.2% at constant exchange rates* and up 6.7% like-for-like
- Operating income: up 29.9% to EUR3,714 million; up 29.8% at constant exchange rates*
- Net income (excluding capital gains and losses on sales of non-current assets): up 32.6% to EUR1,702 million
The key consolidated data for the Group, as well as the results by business sector and geographical area set out in the appendix, are the same as the estimated figures published at the end of January (**), and are summarized below:
2005 2006 % In EUR In EUR change millions millions (1) (2) (2)/(1) Net sales (a) 35,110 (a) 41,596 (a) +18.5% Operating income 2,860 3,714 +29.9% Non-operating costs (288) (367) +27.4% Capital gains and losses and exceptional asset write-downs (21) (27) -28.6% Dividend income 3 2 -50.0% Business income 2,554 3,322 +30.1% Net financial expense (569) (748) +31.5% Income tax (701) (899) +28.2% Share in net income of equity 10 7 -30.0% investees Income before minority interests 1,294 1,682 +30.0% Minority interests (30) (45) +50.0% Net attributable income 1,264 1,637 +29.5% Earnings per share based on the number of shares at December 31 (in 3.66 4.44 +21.3% EUR) Earnings per share excluding capital 1,284 1,702 +32.6% gains Earnings per share excluding capital gains based on the number of shares at December 31 (in EUR) 3.72 4.62 +24.2% Cash flow from operations 2,735 3,347 +22.4% Cash flow from operations excluding capital gains tax 2,730 3,374 +23.6% Depreciation and amortization 1,420 1,717 (b) +20.9% Capital expenditure 1,756 2,191 +24.8% Investments in securities (c) 6,991 584 n.m. Net debt 12,850 11,599 -9.7%
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