Sales

5,995.8

5,564.4

472.6

494.2

1,674.2

1,464.7

Royalty, license and commission income

409.4

355.6

2.6

2.0

1.4

2.7

Total revenues

6,405.2

5,920.0

475.2

496.2

1,675.6

1,467.4

Gross margin

5,212.1

4,891.7¹

316.7

339.0¹

959.1

875.3¹

Marketing and selling expenses

–1,370.8

–1,412.0¹

–218.5

–232.8¹

–142.8

–132.4¹

Royalty, license and commission expenses

–561.6

–478.5

–1.0

–3.7

–1.5

–2.3

Administration expenses

–250.2

–253.4¹

–23.1

–23.5¹

–35.2

–33.1¹

Other operating expenses and income

–674.9

–382.0¹

–46.2

–5.1

–39.2

127.4¹

Research and development

–1,187.3

–1,224.5¹

–19.4

–22.8¹

–137.4

–132.8¹

Operating result (EBIT)

508.3

342.2¹

4.3

46.9¹

598.5

691.0¹

Depreciation and amortization

881.1

840.8

11.5

11.3

114.1

102.5

Impairment losses

51.2

344.4

10.7

0.3

12.1

9.5

Other

–

–0.5

–

–

–1.3

–1.9

EBITDA

1,440.6

1,526.9¹

26.5

58.5¹

723.4

801.1¹

One-time items

344.7

42.1

37.0

–

7.3

–118.4

EBITDA pre one-time items (Segment result)

1,785.3

1,569.0

63.5

58.5

730.7

682.7

EBITDA margin pre one-time items (in % of sales)

29.8

28.2

13.4

11.8

43.6

46.6

Net operating assets

8,020.6

9,207.2

283.8

321.1

1,187.7

1,331.0

Segment liabilities

–1,349.8

–1,163.6

–76.5

–80.7

–147.1

–131.7

Investments in property, plant and equipment²

146.9

197.0

4.0

5.2

55.7

64.1

Investments in intangible assets²

88.7

53.0

0.4

6.2

28.6

2.7

Net cash flows from operating activities

2,216.3

1,386.9¹

72.3

49.4¹

875.4

573.8¹

Net cash flows from investing activities

–197.5

101.3

–2.3

–8.8

–70.8

128.6

Free cash flow

2,018.8

1,488.2¹

70.0

40.6¹

804.6

702.4¹

Business free cash flow

1,840.9

1,440.4

85.5

48.2

786.9

572.3

Free cash flow margin (in % of sales)

33.7

26.7

14.8

8.2

48.1

48.0

€ million

2012

2011

2012

2011

2012

2011

Sales

2,598.2

2,382.6

–

–

10,740.8

9,905.9

Royalty, license and commission income

18.7

10.2

–

–

432.1

370.5

Total revenues

2,616.9

2,392.8

–

–

11,172.9

10,276.4

Gross margin

1,531.1

1,389.6¹

–3.8

–4.8¹

8,015.2

7,490.8¹

Marketing and selling expenses

–675.7

–606.0¹

–3.0

–2.5¹

–2,410.8

–2,385.7¹

Royalty, license and commission expenses

–15.7

–16.0

–

–

–579.8

–500.5

Administration expenses

–113.5

–104.1¹

–130.2

–121.5¹

–552.2

–535.6¹

Other operating expenses and income

–122.9

–103.0¹

–243.3

–54.5¹

–1,126.5

–417.2¹

Research and development

–166.1

–133.4¹

–1.1

–0.5¹

–1,511.3

–1,514.0¹

Operating result (EBIT)

233.2

235.4¹

–380.7

–183.4¹

963.6

1,132.1¹

Depreciation and amortization

305.0

283.7

7.6

5.4

1,319.3

1,243.7

Impairment losses

4.2

1.8

0.5

–

78.7

356.0

Other

–

1.5

–0.1

–

–1.4

–0.9

EBITDA

542.4

522.4¹

–372.7

–178.0¹

2,360.2

2,730.9¹

One-time items

53.5

38.7

162.2

30.5

604.7

–7.1

EBITDA pre one-time items (Segment result)

595.9

561.1

–210.5

–147.5

2,964.9

2,723.8

EBITDA margin pre one-time items (in % of sales)

22.9

23.6

–

–

27.6

27.5

Net operating assets

6,328.9

6,608.6

25.1

–1.3

15,846.1

17,466.6

Segment liabilities

–383.1

–335.4

–33.7

–22.9

–1,990.2

–1,734.3

Investments in property, plant and equipment²

113.2

99.7

9.3

0.3

329.1

366.3

Investments in intangible assets²

10.0

12.0

16.5

5.8

144.2

79.7

Net cash flows from operating activities

639.7

413.4¹

–1,331.5

–1,152.3¹

2,472.2

1,271.2

Net cash flows from investing activities

–137.4

–263.3

–749.9

–853.8

–1,157.9

–896.0

Free cash flow

502.2

150.0¹

–1,355.7

–944.8¹

2,039.9

1,436.4

Business free cash flow

492.8

352.3

–236.8

–151.3

2,969.3

2,261.9

Free cash flow margin (in % of sales)

19.3

6.3

–

–

19.0

14.5