| EUR million |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
|
| |
|
|
|
|
|
|
|
|
|
| Sales |
9 998 |
10 490 |
10 636 |
13 017 |
13 509 |
12 783 |
12 172 |
12 396 |
|
| % change on previous year |
5.1 |
4.9 |
1.4 |
22.4 |
3.8 |
-5.4 |
-4.8 |
1.8 |
|
| Wages and salaries |
1 737 |
1 805 |
1 738 |
2 023 |
2 246 |
2 308 |
2 298 |
*1 937 |
|
| % of sales |
17.4 |
17.2 |
16.3 |
15.4 |
16.6 |
18.1 |
18.9 |
15.6 |
|
| EBITDA |
1 747 |
1 877 |
2 328 |
3 472 |
2 743 |
2 288 |
1 672 |
1 878 |
|
| Depreciation |
806 |
1 111 |
849 |
1 041 |
1 116 |
1 397 |
1 084 |
1 082 |
|
| Goodwill amortisation and impairments |
48 |
65 |
62 |
88 |
152 |
1 069 |
116 |
90 |
|
| Operating profit |
893 |
701 |
1 416 |
2 344 |
1 475 |
-178 |
471 |
706 |
|
| % of sales |
8.9 |
6.7 |
13.3 |
18.0 |
10.9 |
-1.4 |
3.9 |
5.7 |
|
| Non-recurring items |
-52 |
-471 |
103 |
445 |
-8 |
-1 078 |
-54 |
370 |
|
| Operating profit excl. non-recurring items |
945 |
1 172 |
1 314 |
1 899 |
1 483 |
900 |
526 |
336 |
|
| % of sales |
9.5 |
11.2 |
12.4 |
14.6 |
11 |
7 |
4.3 |
2.7 |
|
| Share of profits in associated companies |
17 |
10 |
10 |
21 |
80 |
15 |
-23 |
39 |
|
| Net financial expense |
280 |
380 |
267 |
293 |
344 |
206 |
238 |
106 |
|
| % of sales |
2.8 |
3.6 |
2.5 |
2.3 |
2.5 |
1.6 |
2.0 |
0.9 |
|
| Profit after net financial items |
630 |
331 |
1 160 |
2 071 |
1 211 |
-369 |
211 |
639 |
|
| % of sales |
6.3 |
3.2 |
10.9 |
15.9 |
9.0 |
-2.9 |
1.7 |
5.2 |
|
| Profit after net financial items excl. non-recurring items |
682 |
802 |
1 057 |
1 626 |
1 219 |
709 |
319 |
269 |
|
| % of sales |
6.8 |
7.6 |
9.9 |
12.5 |
9.0 |
5.5 |
2.6 |
2.2 |
|
| Taxes |
-204 |
-146 |
-397 |
-642 |
-296 |
+129 |
-67 |
+109 |
|
| Profit for the period |
405 |
185 |
758 |
1 415 |
918 |
-241 |
138 |
740 |
|
| Dividend |
254 |
268 |
304 |
407 |
404 |
392 |
388 |
**376 |
|
| Capital expenditure |
1 134 |
896 |
740 |
769 |
857 |
878 |
1 248 |
980 |
|
| % of sales |
11.3 |
8.5 |
7.0 |
5.9 |
6.3 |
6.9 |
10.3 |
7.9 |
|
| R&D expenditure |
79 |
80 |
84 |
95 |
92 |
92 |
89 |
82 |
|
| % of sales |
0.8 |
0.8 |
0.8 |
0.7 |
0.7 |
0.7 |
0.7 |
0.7 |
|
| Operating capital |
13 078 |
12 541 |
12 510 |
16 423 |
16 252 |
13 100 |
13 548 |
12 170 |
|
| Capital employed |
11 572 |
11 038 |
10 866 |
13 808 |
13 963 |
11 120 |
11 613 |
10 671 |
|
| Interest-bearing net liabilities |
6 090 |
5 783 |
5 524 |
5 396 |
5 127 |
3 267 |
3 919 |
3 051 |
|
| ROCE. % |
8.0 |
6.2 |
12.9 |
19.0 |
10.6 |
-1.4 |
4.0 |
6.3 |
|
| ROCE excluding non-recurring items. % |
8.5 |
10.4 |
12.0 |
15.4 |
10.6 |
7.2 |
4.5 |
3.0 |
|
| Return on equity (ROE). % |
7.5 |
3.3 |
12.8 |
19.7 |
10.4 |
-2.8 |
1.7 |
9.2 |
|
| Equity ratio. % |
37.2 |
36.0 |
38.4 |
40.6 |
43.8 |
44.3 |
44.7 |
49.9 |
|
| Debt/Equity ratio |
1.05 |
1.04 |
0.9 |
0.63 |
0.58 |
***0.37 |
0.49 |
0.38 |
|
| Average number of employees |
40 301 |
40 987 |
40 226 |
41 785 |
44 275 |
43 853 |
44 264 |
43 779 |
|
* Including income relating to the change in the Finnish disability pension scheme ** Board's dividend proposal *** Adjusted with the initial valuation of IAS 41, Agriculture
