Analysts' consensus

Turnover (€ million)

15,588

30,340

59,901

Turnover change (%)

(1.4)%

2.4%

(0.3)%

Exchange rates (%)

(4.9)%

(2.9)%

(4.4)%

Acquisitions and disposals (%)

(3.2)%

(3.0)%

(1.8)%

Underlying sales growth (%)

6.4%

8.3%

6.1%

Price (%)

7.7%

9.0%

6.3%

Volume (%)

(1.2)%

(0.7)%

(0.2)%

Underlying operating profit

4,910

9,826

Underlying operating margin (%)

16.2%

16.4%

Change in underlying operating margin (%)

(0.8)%

0.3%

Acquisition and disposal related costs

(3)

(13)

Gain/(loss) of disposal of group companies

0

20

Impairments and other one-offs

(4)

(9)

Non A&D restructuring costs

(302)

(599)

Operating profit

4,654

9,302

Underlying Operating Profit

4,910

9,826

Net finance cost

(292)

(591)

Joint ventures, associates

107

212

Non current investments

11

17

Underlying profit before taxation

4,746

9,471

Underlying tax rate %

(24.8)%

(24.7)%

Underlying taxation

(1,150)

(2,285)

Net profit (underlying)

3,600

7,180

Attributable to non controlling interests (NCI)

329

656

Underlying profit attributable to shareholder's equity

3,272

6,522

Average # of shares on a fully diluted basis

2,535

2,528

Underlying EPS (in Euros)

1.29

2.58

Underlying EPS growth (%)

(3.6)%

0.6%