Analysts' consensus

Turnover (€ million)

14,280

60,578

Turnover change (%)

1.2%

1.6%

Exchange rates (%)

(1.4)%

(1.7)%

Acquisitions and disposals (%)

(1.4)%

(1.1)%

Underlying sales growth (%)

4.1%

4.3%

Price (%)

1.0%

1.3%

Volume (%)

3.0%

3.0%

Underlying operating profit

11,071

Underlying operating margin (%)

18.3%

Change in underlying operating margin (%)

1.6%

Non A&D restructuring costs

(696)

Net finance cost

(659)

Joint ventures, associates

252

Non current investments

8

Underlying profit before taxation

10,645

Underlying tax rate (%)

(26.1)%

Underlying taxation

(2,717)

Operating profit

10,469

Operating margin (%)

17.3%

Net profit (underlying)

7,932

Attributable to non controlling interests (NCI)

644

Underlying profit attributable to shareholder's equity

7,298

Average # of shares on a fully diluted basis

2,501

Underlying EPS (in Euros)

2.92

Underlying EPS growth (%)

12.2%