- Overall robust performance despite substantial impact from COVID-19 pandemic
- Group sales reach 19.3 billion euros, slightly negative organic sales development
- Earnings and profitability negatively affected both by the increased investments in marketing, advertising, digitalization and IT announced at the start of 2020, and by declining volumes
- Very strong free cash flow and significantly improved net financial position, stable dividend2
- Implementation of agenda for purposeful growth on track
in million euros | 2019 | 2020 | +/- |
Sales | 20,114 | 19,250 | -4.3 % |
Adjusted1 operating profit (adjusted EBIT) | 3,220 | 2,579 | -19.9 % |
Adjusted1 return on sales (adjusted EBIT margin) | 16.0 % | 13.4 % | -2.6 pp |
Adjusted1 earnings per preferred share (adjusted EPS) in euros | 5.43 | 4.26 | -21.5 % |
Dividend per preferred share in euros | 1.85 | 1.85 | – |
| pp = percentage points 1 Adjusted for one-time expenses and income, and for restructuring expenses. | |||
