Development of Debt


 Financial Ratios

2010

2011

2012 2)

2013

Q1/2014

 Operating Debt Coverage 1) 81.3% 91.6% 507.1%

n.a.*

n.a.*
 Interest Coverage Ratio 12.8 14.0 14.3

23.9

33.1
 Equity Ratio 45.4% 46.9% 48.7%

52.5%

54.9%

* Figure cannot be calculated due to our positive net financial position.


Definition of Financial Ratios

Development of net financial position



in million euros

2010

2011

2012

2013

Q1/2014

Cash and cash equivalents
securities and time deposits
1,868 2,331 3,483

3,457

2,730
Financial debt 3) - 3,934 - 3,723 - 3,568

- 2,498

- 1,807

Net financial position 4) - 2,066 - 1,392 - 85

959

923
Pension provisions

- 594

- 998

- 960

- 820

- 928

1) Hybrid bond included on 50 % debt basis.
2) Prior-year figure adjusted in application of IAS 19 revised.
3) Borrowings less positive and plus negative fair values of hedging transactions.
4) Borrowings less cash and cash equivalents and readily monetizable financial instruments classified as
  "available for sale" or in the "fair value option", and also less positive and plus negative fair values
   of hedging transactions.