• Good organic sales growth with strong earnings and profitability
  • Good organic sales growth driven by Emerging Markets
  • Earnings and profitability supported by strong cost management focus and synergies
  • Strong expansion of free cash flow
  • Very good progress in implementation of strategic initiatives

In million euros



20,02919,899 -0.6 %

Adjusted1 operating profit (EBIT)

3,4613,4961.0 %

Adjusted1 return on sales (EBIT) in %

17.317.60.3 pp

Adjusted1 earnings per preferred share in euros

5.856.012.7 %

Dividend per preferred share in euros

1.791.853.4 %
pp = percentage points
1 Adjusted for one-time charges/gains and restructuring charges.

Sales and EBIT development

Sales 2018