2011 | 2012 | 2013 | ||
Revenue | € million | 13 787 | 15 833 | 16 655 |
In Germany | % | 9,0 | 8,2 | 7,9 |
Outside Germany | % | 91,0 | 91,8 | 92,1 |
Earnings | ||||
Operating profit1 | € million | 3 210 | 3 686 | 3 966 |
EBIT | € million | 2 152 | 2 055 | 2 171 |
Profit before tax (EBT) | € million | 1 619 | 1 734 | 1 794 |
Profit for the year (attributable to Linde AG shareholders) | € million | 1 174 | 1 232 | 1 317 |
Earnings per share – undiluted2 | € | 6,88 | 6,93 | 7,10 |
Dividend | € million | 428 | 500 | 557 |
Dividend per share | € | 2,50 | 2,70 | 3,00 |
No. of shares (at 31 December) | 000s | 171 061 | 185 189 | 185 588 |
Asset structure | ||||
Intangible, tangible and financial assets | € million | 21 269 | 25 971 | 25 184 |
Inventories | € million | 1 036 | 1 112 | 1 088 |
Receivables3 | € million | 2 382 | 3 093 | 3 119 |
Cash and cash equivalents and securities | € million | 2 674 | 2 108 | 1 348 |
Other assets | € million | 1 554 | 2 013 | 2 010 |
Total assets | € million | 28 915 | 34 297 | 32 749 |
Capital structure | ||||
Equity | € million | 12 144 | 13 658 | 13 586 |
Provisions | € million | 2 838 | 2 613 | 2 381 |
Financial debt | € million | 7 768 | 10 581 | 9 577 |
Other liabilities | € million | 6 165 | 7 445 | 7 205 |
Total equity and liabilities | € million | 28 915 | 34 297 | 32 749 |
Cash flow statement | ||||
Cash flow from operating activities | € million | 2 426 | 2 664 | 3 144 |
Employees as at 31 December | 50 417 | 62 765 | 63 487 | |
In Germany | % | 14,6 | 12,1 | 12,3 |
Outside Germany | % | 85,4 | 87,9 | 87,7 |
Key figures and ratios | ||||
Capital expenditure | € million | 1 367 | 2 038 | 2 268 |
Equity ratio | % | 42,0 | 39,8 | 41,5 |
Return on capital employed (adjusted ROCE) | % | 13,0 | 11,9 | 10,9 |
Return on capital employed (ROCE as reported) | % | 11,0 | 10,2 | 9,7 |
EBIT margin1 | % | 15,6 | 13,0 | 13,0 |
Cash flow from operating activities as percentage of revenue | % | 17,6 | 16,8 | 18,9 |
1 EBIT adjusted for amortisation of intangible assets and depreciation of tangible assets. | ||||
2 Based on the weighted average number of shares. | ||||
3 Includes receivables from finance leases. |