Key figures and rating
*
*Income statement
In EUR x million
| 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|
| Revenue | 1,314.6 | 1,204.2 | 1,358.1 | 1,341.9 |
| Gross profit incl. other operating income | 1,087.3 | 996.9 | 1,149.1 | 1,138.4 |
| Operating expense incl. depreciation and impairments | 684.8 | 647.2 | 750.0 | 772.9 |
| EBIT | 396.8 | 354.6 | 408.3 | 372.1 |
| Financial income and expense | -88.5 | -93.8 | -72.5 | -175.7 |
| Profit before tax | 308.3 | 260.8 | 335.8 | 196.4 |
| Profit for the year | 229.4 | 193.7 | 263.1 | 147.5 |
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*Balance sheet
In EUR x million
| 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|
| Net operating capital | -137.4 | -86.2 | 0.2 | 25.7 |
| Non-current assets | 5,438.6 | 5,059.2 | 4,893.2 | 4,586.2 |
| Capital employed | 5,301.2 | 4,974.2 | 4,894.5 | 4,927.1 |
| Equity | 3,130.9 | 2,963.9 | 2,849.1 | 2,236.0 |
| Balance sheet total | 6,319.4 | 5,911.5 | 5,677.0 | 5,580.6 |
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*Cash flow statement
In EUR x million
| 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|
| Cash flow from: | ||||
| operating activities | 604.9 | 629.1 | 615.9 | 486.1 |
| investment activities | -544.9 | -412.1 | -90.1* | -298.1 |
| financing activities | -61.1 | -79.0 | -335.6 | -205.2 |
| Net cash flow | -1.1 | 138.0 | 190.2 | -17.2 |
*Includes the sale of the high-voltage grid for €314.5 million
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*Ratios
| 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|
| ROIC | 7.5% | 7.1% | 8.3% | 7.6% |
| ROE | 7.3% | 6.5% | 9.2% | 6.6% |
| 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|
| EBIT interest coverage | 4.1 x | 3.6 x | 4.6 x | NA |
| FFO interest coverage | 7.0 x | 5.7 x | 7.1 x | NA |
| FFO / net interest-bearing debt | 36% | 24% | 27.8% | NA |
| Net interest-bearing debt / (equity + net interest-bearing debt) | 34% | 39% | 40.3% | NA |
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*Corporate credit ratings
| Credit ratings | ||
|---|---|---|
| Standard & Poor's | A+ | positive outlook |
| Moody's | Aa3 | Stable outlook |
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