14%

6%

2004
8,037
15%
11%
8%

2005
9,639
20%
14%
10%

2006
13,441
39%
17%
12%

2007
17,363
29%
20%
14%

2008
19,541
13%
24%
15%

996

854

1,303

2,224

3,545

4,770

445

658

953

1,679

2,415

2,859

Return On Capital Employed

2012
24%

2011
36%

2010
45%

2009
41%

2008
45%

ROE
ROE (DuPont)

2008
29%
27%

2009
28%
80,000
24%

2010
27%
27%

2011
24%
30%

2012
21%
28%

Revenues
Growth
OPM
NPM
Operating Profit
EBIT
Net Profit

2003
6,999

Revenues
Net Profit
NPM

2008
19,541
2,859
15%

Asset Turnover
Revenues
Assets
Asset Turnover

2008
0.92
19,541
35,111
0.56

Assets
Equity
Financial Leverage

2008
35,111
10,774
3.26

70,000
2009
60,000
26,614

3138

50,000
12%
40,000
2009
30,000
0.92

26,614

2010

2011

2012

33,226
4311

42,023
6011

47,731
7040

13%

14%

15%

2010
0.83

2011
0.84

2012
0.87

33,226

42,023

47,731

20,000
41,479
48,561
66,817
66,776
0.64
0.68
0.63
0.71
10,000
35%
2009 0
2010
2011
2012
29%
28%
2008 66,817
200966,776 2010
30%
41,479
48,561
27%
Revenues
12,939
15,917
20,154
25,373 Assets
25%
3.21
3.05
3.32
2.63

Return On Equity

20%
15%
10%
5%
0%
2008

2009

2010

2009

2010

2011

2012

26,614

33,226

42,023

47,731

36%
20%
12%

25% 80,000 26%

21%
20%
13% 70,000 14%

14%
21%
15%

5214

7083

3138

4311

60,000

8583

50,000
40,000

6011

3.50
3.00

9887
10353
7040

2.50
2.00
1.50

30,000

1.00

20,000

0.50

10,000
0

0.80

0.70 2008
0.60

2009

Assets

2010

Equity

2011

2012

Financial Leverage

0.50
0.40

0.30
0.20

turn On Equity

0.10

Return On Capital Employed

2011
2012
Asset
Turnover
24%
21%

50%

45%

45%

41%

40%

36%

35%
30%
25%

24%

20%
15%
10%
2011

2012

5%

0%
2012

2011

2010

2009

3.50
3.00

2.50
2.00
1.50
1.00

0.50
-

45%

2008