| 2023 | 2024 | 2025 | |
|---|---|---|---|
| Operating profit/Sales (as % of sales) | Operating profit/Sales (as % of sales) 2023 19.8% |
Operating profit/Sales (as % of sales) 2024 20.0% |
Operating profit/Sales (as % of sales) 2025 20.2% |
| Net profit excluding non-recurring items attributable to the owners of the Group/Opening shareholders' equity (% of shareholders' equity) | Net profit excluding non-recurring items attributable to the owners of the Group/Opening shareholders' equity (% of shareholders' equity)2023 23.9% |
Net profit excluding non-recurring items attributable to the owners of the Group/Opening shareholders' equity (% of shareholders' equity)2024 23.3% |
Net profit excluding non-recurring items attributable to the owners of the Group/Opening shareholders' equity (% of shareholders' equity)2025 20.5% |
| Net gearing(1) (% of shareholders' equity) | Net gearing (1)(% of shareholders' equity) 2023 15.1% |
Net gearing (1)(% of shareholders' equity) 2024 13.4% |
Net gearing (1)(% of shareholders' equity) 2025 5.9% |
| Gross cash flow/Investments | Gross cash flow/Investments 2023 5.4x |
Gross cash flow/Investments 2024 5.2x |
Gross cash flow/Investments 2025 5.6x |
| Net debt/EBITDA ratio(2) | Net debt/EBITDA ratio (2)2023 46% |
Net debt/EBITDA ratio (2)2024 43% |
Net debt/EBITDA ratio (2)2025 19% |
| € millions | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| RESULTS | ||||||
| Consolidated sales | Consolidated sales 2020 27,992 |
Consolidated sales 2021 32,288 |
Consolidated sales 2022 38,260 |
Consolidated sales 2023 41,183 |
Consolidated sales 2024 43,487 |
Consolidated sales 2025 44,052 |
| Operating profit | Operating profit 2020 5,209 |
Operating profit 2021 6,160 |
Operating profit 2022 7,457 |
Operating profit 2023 8,143 |
Operating profit 2024 8,687 |
Operating profit 2025 8,892 |
| As a percentage of consolidated sales | As a percentage of consolidated sales 2020 18.6% |
As a percentage of consolidated sales 2021 19.1% |
As a percentage of consolidated sales 2022 19.5% |
As a percentage of consolidated sales 2023 19.8% |
As a percentage of consolidated sales 2024 20.0% |
As a percentage of consolidated sales 2025 20.2% |
| Profit before tax excluding non-recurring items | Profit before tax excluding non-recurring items 2020 5,485 |
Profit before tax excluding non-recurring items 2021 6,479 |
Profit before tax excluding non-recurring items 2022 7,852 |
Profit before tax excluding non-recurring items 2023 8,451 |
Profit before tax excluding non-recurring items 2024 8,871 |
Profit before tax excluding non-recurring items 2025 9,008 |
| Net profit excluding non‑recurring items attributable to the owners of the company | Net profit excluding non‑recurring items attributable to the owners of the company 2020 4,099 |
Net profit excluding non‑recurring items attributable to the owners of the company 2021 4,938 |
Net profit excluding non‑recurring items attributable to the owners of the company 2022 6,054 |
Net profit excluding non‑recurring items attributable to the owners of the company 2023 6,487 |
Net profit excluding non‑recurring items attributable to the owners of the company 2024 6,786 |
Net profit excluding non‑recurring items attributable to the owners of the company 2025 6,806 |
| Net profit attributable to owners of the company | Net profit attributable to owners of the company 2020 3,563 |
Net profit attributable to owners of the company 2021 4,597 |
Net profit attributable to owners of the company 2022 5,707 |
Net profit attributable to owners of the company 2023 6,184 |
Net profit attributable to owners of the company 2024 6,409 |
Net profit attributable to owners of the company 2025 6,127 |
| Total dividend | Total dividend 2020 2,268 |
Total dividend 2021 2,601 |
Total dividend 2022 3,248 |
Total dividend 2023 3,565.1 |
Total dividend 2024 3,779.2 |
Total dividend 2025 3,882.3(3) |
| BALANCE SHEET | ||||||
| Non-current assets | Non-current assets 2020 29,047 |
Non-current assets 2021 30,938 |
Non-current assets 2022 32,794 |
Non-current assets 2023 35,530 |
Non-current assets 2024 39,880 |
Non-current assets 2025 39,623 |
| Current assets excl. cash and cash equivalents | Current assets excl. cash and cash equivalents 2020 8,154 |
Current assets excl. cash and cash equivalents 2021 9,362 |
Current assets excl. cash and cash equivalents 2022 11,432 |
Current assets excl. cash and cash equivalents 2023 12,037 |
Current assets excl. cash and cash equivalents 2024 12,421 |
Current assets excl. cash and cash equivalents 2025 12,334 |
| Cash | Cash 2020 6,406 |
Cash 2021 2,714 |
Cash 2022 2,618 |
Cash 2023 4,288 |
Cash 2024 4,052 |
Cash 2025 9,865 |
| Equity(1) | Equity (1)2020 28,999 |
Equity (1)2021 23,593 |
Equity (1)2022 27,187 |
Equity (1)2023 29,082 |
Equity (1)2024 33,138 |
Equity (1)2025 35,004 |
| Net financial position(2) | Net financial position (2)2020 (3,859) |
Net financial position (2)2021 3,586 |
Net financial position (2)2022 3,033 |
Net financial position (2)2023 4,404 |
Net financial position (2)2024 4,443 |
Net financial position (2)2025 2,051 |
| Gross cash flow | Gross cash flow 2020 5,724 |
Gross cash flow 2021 6,640 |
Gross cash flow 2022 7,289 |
Gross cash flow 2023 8,000 |
Gross cash flow 2024 8,513 |
Gross cash flow 2025 8,330 |
| PER SHARE DATA (€) | ||||||
| Diluted earnings per share attributable to owners of the company, excluding non-recurring items | Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2020 7.30 |
Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2021 8.82 |
Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2022 11.26 |
Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2023 12.08 |
Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2024 12.66 |
Diluted earnings per share attributable to owners of the company, excluding non-recurring items 2025 12.71 |
| Dividend | Dividend 2020 4.00 |
Dividend 2021 4.80 |
Dividend 2022 6.00 |
Dividend 2023 6.60 |
Dividend 2024 7.00 |
Dividend 2025 7.20 (3) |
| Share price at 31 December(4) | Share price at 31 December (4)2020 310.80 |
Share price at 31 December (4)2021 416.95 |
Share price at 31 December (4)2022 333.60 |
Share price at 31 December (4)2023 450.65 |
Share price at 31 December (4)2024 341.85 |
Share price at 31 December (4)2025 366.60 |
| Highest share price during the year(4) | Highest share price during the year (4)2020 321.40 |
Highest share price during the year (4)2021 433.65 |
Highest share price during the year (4)2022 431.95 |
Highest share price during the year (4)2023 460.00 |
Highest share price during the year (4)2024 461.85 |
Highest share price during the year (4)2025 408.35 |
| Lowest share price during the year(4) | Lowest share price during the year (4)2020 196.00 |
Lowest share price during the year (4)2021 290.10 |
Lowest share price during the year (4)2022 300.45 |
Lowest share price during the year (4)2023 334.30 |
Lowest share price during the year (4)2024 316.30 |
Lowest share price during the year (4)2025 323.70 |
| Diluted weighted average number of shares outstanding(4) | Diluted weighted average number of shares outstanding (4)2020 561,635,963 |
Diluted weighted average number of shares outstanding (4)2021 559,791,545 |
Diluted weighted average number of shares outstanding (4)2022 537,657,548 |
Diluted weighted average number of shares outstanding (4)2023 537,021,039 |
Diluted weighted average number of shares outstanding (4)2024 536,078,431 |
Diluted weighted average number of shares outstanding (4)2025 535,366,634 |
