Reporting period
The five-years summary includes information that is presented in accordance with IFRS, which includes Firmenich from the merger date onwards. All figures are including discontinued operations unless stated otherwise, see also Note 3 Change in the scope of the consolidation.x € million |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
|---|---|---|---|---|---|---|---|---|---|---|
Assets |
|
|
|
|
|
|
|
|
|
|
Goodwill and intangible assets |
|
18,738 |
|
5,147 |
|
5,309 |
|
4,440 |
|
3,515 |
Property, plant and equipment |
|
5,549 |
|
3,576 |
|
3,964 |
|
3,775 |
|
4,040 |
Deferred tax assets |
|
228 |
|
95 |
|
203 |
|
240 |
|
217 |
Share in associates and joint ventures |
|
130 |
|
61 |
|
64 |
|
93 |
|
155 |
Derivatives |
|
46 |
|
82 |
|
48 |
|
61 |
|
27 |
Other financial assets |
|
735 |
|
314 |
|
302 |
|
317 |
|
265 |
Non-current assets |
|
25,426 |
|
9,275 |
|
9,890 |
|
8,926 |
|
8,219 |
|
|
|
|
|
|
|
|
|
|
|
Inventories |
|
3,390 |
|
2,339 |
|
2,297 |
|
1,879 |
|
2,019 |
Current receivables |
|
2,843 |
|
1,622 |
|
1,697 |
|
1,483 |
|
1,698 |
Derivatives |
|
42 |
|
42 |
|
30 |
|
48 |
|
19 |
Current investments |
|
107 |
|
125 |
|
489 |
|
43 |
|
688 |
Cash and cash equivalents |
|
2,456 |
|
2,755 |
|
1,561 |
|
871 |
|
800 |
Assets held for sale |
|
6 |
|
1,245 |
|
56 |
|
1,096 |
|
- |
Current assets |
|
8,844 |
|
8,128 |
|
6,130 |
|
5,420 |
|
5,224 |
Total assets |
|
34,270 |
|
17,403 |
|
16,020 |
|
14,346 |
|
13,443 |
|
|
|
|
|
|
|
|
|
|
|
Equity and liabilities |
|
|
|
|
|
|
|
|
|
|
Shareholders’ equity |
|
22,908 |
|
10,743 |
|
9,318 |
|
7,399 |
|
7,731 |
Non-controlling interests |
|
162 |
|
102 |
|
79 |
|
88 |
|
104 |
Equity |
|
23,070 |
|
10,845 |
|
9,397 |
|
7,487 |
|
7,835 |
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
1,751 |
|
476 |
|
490 |
|
431 |
|
296 |
Employee benefit liabilities |
|
520 |
|
287 |
|
323 |
|
414 |
|
413 |
Provisions |
|
142 |
|
50 |
|
96 |
|
123 |
|
120 |
Borrowings |
|
4,114 |
|
2,978 |
|
2,995 |
|
3,484 |
|
2,464 |
Derivatives |
|
8 |
|
4 |
|
9 |
|
1 |
|
7 |
Other non-current liabilities |
|
146 |
|
205 |
|
280 |
|
163 |
|
145 |
Non-current liabilities |
|
6,681 |
|
4,000 |
|
4,193 |
|
4,616 |
|
3,445 |
|
|
|
|
|
|
|
|
|
|
|
Employee benefits liabilities |
|
49 |
|
5 |
|
21 |
|
42 |
|
43 |
Provisions |
|
34 |
|
45 |
|
68 |
|
61 |
|
48 |
Borrowings |
|
716 |
|
86 |
|
103 |
|
102 |
|
189 |
Derivatives |
|
28 |
|
23 |
|
40 |
|
13 |
|
18 |
Current liabilities |
|
3,684 |
|
1,969 |
|
2,188 |
|
1,771 |
|
1,865 |
Liabilities held for sale |
|
8 |
|
430 |
|
10 |
|
254 |
|
- |
Current liabilities |
|
4,519 |
|
2,558 |
|
2,430 |
|
2,243 |
|
2,163 |
Total equity and liabilities |
|
34,270 |
|
17,403 |
|
16,020 |
|
14,346 |
|
13,443 |
x € million |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales |
|
11,015 |
|
10,480 |
|
9,468 |
|
9,038 |
|
9,010 |
||||
Net sales from continuing operations |
|
10,627 |
|
8,390 |
|
7,269 |
|
- |
|
- |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted EBITDA1 |
|
1,441 |
|
1,725 |
|
1,842 |
|
1,650 |
|
1,684 |
||||
EBITDA |
|
3,637 |
|
2,646 |
|
2,370 |
|
1,476 |
|
1,586 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted operating profit (EBIT)1 |
|
428 |
|
1,071 |
|
1,167 |
|
1,011 |
|
1,075 |
||||
Operating profit (EBIT) |
|
2,330 |
|
1,994 |
|
1,689 |
|
736 |
|
954 |
||||
Operating profit (EBIT) from continuing operations |
|
(497) |
|
682 |
|
711 |
|
- |
|
- |
||||
Financial income and expense |
|
(151) |
|
(94) |
|
(106) |
|
(67) |
|
(92) |
||||
Income tax expense |
|
(19) |
|
(190) |
|
(245) |
|
(129) |
|
(152) |
||||
Share of the profit of associates and joint ventures |
|
(7) |
|
5 |
|
342 |
|
(32) |
|
54 |
||||
Net profit for the year |
|
2,153 |
|
1,715 |
|
1,680 |
|
508 |
|
764 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Net profit attributable to non-controlling interests |
|
16 |
|
15 |
|
4 |
|
2 |
|
6 |
||||
Net profit available to equity holders of the parent company |
|
2,137 |
|
1,700 |
|
1,676 |
|
506 |
|
758 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Dividend on Cumulative Preference Shares |
|
(6) |
|
(6) |
|
(6) |
|
(7) |
|
(8) |
||||
Net profit available to holders of ordinary shares |
|
2,131 |
|
1,694 |
|
1,670 |
|
499 |
|
750 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Key figures and financial ratios |
|
|
|
|
|
|
|
|
|
|
||||
Capital employed |
|
26,766 |
|
11,473 |
|
11,019 |
|
10,557 |
|
9,311 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Capital expenditure: |
|
|
|
|
|
|
|
|
|
|
||||
- Intangible assets and Property, plant and equipment |
|
700 |
|
636 |
|
614 |
|
622 |
|
623 |
||||
- Acquisitions |
|
14,569 |
|
77 |
|
754 |
|
1,579 |
|
585 |
||||
Disposals |
|
3,559 |
|
1,413 |
|
1,941 |
|
46 |
|
44 |
||||
Depreciation, amortization and impairments |
|
1,307 |
|
652 |
|
681 |
|
740 |
|
632 |
||||
Net debt |
|
(2,215) |
|
(87) |
|
(1,019) |
|
(2,577) |
|
(1,144) |
||||
Dividend |
|
582 |
|
167 |
|
438 |
|
420 |
|
425 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Workforce at 31 December, headcount |
|
29,301 |
|
20,682 |
|
21,358 |
|
23,127 |
|
22,174 |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
Financial ratios1 |
|
|
|
|
|
|
|
|
|
|
||||
Current assets/current liabilities |
|
1.96 |
|
3.15 |
|
2.52 |
|
2.42 |
|
2.42 |
||||
Equity/total assets |
|
0.67 |
|
0.62 |
|
0.59 |
|
0.52 |
|
0.58 |
||||
Gearing (net debt/equity plus net debt) in % |
|
8.8% |
|
0.8% |
|
9.7% |
|
26.0% |
|
13.0% |
||||
Adjusted EBITDA/net sales in % |
|
13.1% |
|
16.5% |
|
19.5% |
|
18.3% |
|
18.7% |
||||
Adjusted EBITDA/financial income and expense |
|
12.3 |
|
20.1 |
|
17.4 |
|
24.6 |
|
18.3 |
||||
|
||||||||||||||