(*) These inaudited results have been adjusted to reflect the sale of Antalis Promotionnal Products and Antonin Rodet in 2009.
Percentage changes or changes in value are based on sales and rounded out to one decimal place.
(**) EBITDA: Recurring operating income before depreciation and amortisation and changes in provisions.
(***) Recurring net income: Recurring operating income after net financial income (expense) and income taxes on recurring operating income.
Financial data
Results
Condensde analytical income statement
| Consolidated financial statements In millions of euros |
2009 | 2008 pro forma * | 2008 reported |
|---|---|---|---|
| Sales | 4,088 | 4,842 | 4,951 |
| EBITDA ** | 213 | 212 | 221 |
| Recurring operating income | 137 | 128 | 136 |
| Operating marging (%) | 3.4% | 2.6% | - |
| Recurring Net Income *** | 73 | 64 | 68 |
| Non-recurring items | (53) | (465) | - |
| Net Income (loss) attributable to shareholders | 20 | (401) | (428) |
Balance sheet data at 31 December 2009
| Balance sheet data at 31 December In millions of euros |
2009 | 2008 |
|---|---|---|
| Goodwill | 635 | 630 |
| Property, plant & equipment and intangibles | 551 | 572 |
| Investments | 27 | 154 |
| Inventories | 461 | 594 |
| Trade receivables | 658 | 778 |
| Trade payables | (587) | (737) |
| Non-operating WCR | (196) | (114) |
| Assets held for sale | 15 | (38) |
| Total Assets | 1,564 | 1,844 |
| Shareholders' equity | 742 | 714 |
| Provisions | 171 | 339 |
| Net debt | 651 | 791 |
| Total liabilities | 1,564 | 1,844 |