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Financials

5-Year Key Figures

Please find below an overview of recent key financials. For more detailed information please see the most recent Annual Report.

Year Ended December 31
(in millions of euros, unless otherwise stated)		 2023 2022   2021  2020 2019 
Business Performance – Benchmark Figures        
Revenues 5,584 5,453 

4.771

4,603

 4,612 
Organic growth +6% +6%  +6%  +2%  +4% 
Adjusted operating profit 1,476 1,424  1.205  1,124  1,089 
Adjusted operating profit margin 26.4% 26,1%  25.3%  24.4%  23.6% 
Adjusted net profit (attributable) 1,119 1,059  885  835  790 
Diluted adjusted EPS €4.55 €4.14  €3.38  €3.13  €2.90 
Adjusted free cash flow 1,164 1,220  1,010  907  807 
Benchmark tax rate 22.9% 22.6%  21.5%  23.0%  23.6% 
Net debt 2,612 2,253  2,131  2,383  2,199 
Net-debt-to-EBITDA (ratio) 1.5x 1.3x  1.4x  1.7x  1.6x 
Return on invested capital 16.8% 15.5%  13.7%  12.3%  11.8% 
IFRS Results 1        
Revenue 5,584 5,453  4,771  4,603  4,612 
Operating profit 1,323 1,333  1,012  972  908 
Profit for the year (attributable) 1,007 1,027  728  721  669 
Diluted EPS €4.09 €4.01  €2.78  €2.70  €2.46 
Net cash from operating activities 1,545 1,582  1,292  1,197  1,102 

Benchmark and IFRS figures are for continuing operations unless otherwise noted. Benchmark (adjusted) figures are performance measures used by management. See our Annual Reports for a reconciliation from IFRS to benchmark figures.
1 International Financial Reporting Standard as adopted by the European Union.

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