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Investor relations
| Year ended at 31 December | |||||
|---|---|---|---|---|---|
| 2004 | 2003 | 2002 | 2001 | 2000 1 | |
| 3,900 | 3,915 | 4,005 | 3,896 | 3,706 | |
| Express 2 | 4,696 | 4,251 | 4,175 | 3,910 | 4,145 |
| Logistics 2 | 4,081 | 3,735 | 3,610 | 3,353 | 2,179 |
| Intercompany / Non-allocated | (42) | (35) | (8) | 59 | (94) |
| Total operating revenues | 12,635 | 11,866 | 11,782 | 11,218 | 9,936 |
| Salaries /social security contributions | 4,305 | 4,163 | 4,027 | 3,836 | 3,230 |
| Depreciation, amortisation and impairments | 533 | 711 | 490 | 437 | 343 |
| Other expenses | 6,623 | 6,225 | 6,207 | 5,928 | 5,542 |
| Total operating expenses | 11,461 | 11,099 | 10,724 | 10,201 | 9,115 |
| Total operating income | 1,174 | 767 | 1,058 | 1,017 | 821 |
| as % of total operational revenues | 9.3% | 6.5% | 9.0% | 9.1% | 8.3% |
| Net income | 667 | 300 | 599 | 585 | 473 |
| Fixed assets | 5,083 | 5,057 | 5,573 | 5,587 | 5,216 |
| Current Assets | 3,199 | 2,858 | 2,693 | 2,867 | 2,380 |
| Total Assets | 8,282 | 7,915 | 8,266 | 8,454 | 7,596 |
| Group Equity 3 | 2,784 | 2,986 | 2,979 | 2,613 | 2,199 |
| Provisions | 1,237 | 817 | 1,036 | 1,173 | 1,311 |
| Long-term liabilities | 1,646 | 1,661 | 1,661 | 1,789 | 577 |
| Short-term liabilities | 2,615 | 2,451 | 2,590 | 2,879 | 3,509 |
| Total liabilities and group equity 3 | 8,282 | 7,915 | 8,266 | 8,454 | 7,596 |
| Net cash provided by operating activities | 1,000 | 937 | 1,032 | 773 | 572 |
| Net cash used in investing activities | (338) | (373) | (518) | (698) | (1,242) |
| Net cash used by financing activities | (500) | (436) | (598) | 125 | 592 |
| Changes in cash and cash equivalents | 162 | 128 | (84) | 200 | (78) |
| Interest cover (times) | 15.2 | 8.3 | 9.8 | 10.9 | 13.7 |
| Average total capital | 8,099 | 8,091 | 8,360 | 8,025 | 6,909 |
| Return on average total capital | 14.5% | 9.5% | 12.7% | 12.7% | 11.9% |
| Return on Assets | 14.2% | 9.7% | 12.8% | 12.0% | 10.8% |
| Net return on Equity 3 | 24.0% | 10.0% | 20.1% | 22.4% | 21.5% |
| Gearing at year end 3 | 23.6% | 26.4% | 32.0% | 39.8% | 37.7% |
| Capital expenditure on PPE | 290 | 287 | 398 | 454 | 388 |
| Capital expenditures on major fixed assets as % of turnover | 2.8% | 3.0% | 4.0% | 4.3% | 3.9% |
| Capital expenditure on investments as % of turnover | 1.8% | 0.6% | 1.2% | 2.9% | -0.3% |
| Cash conversion efficiency | 7.9% | 7.9% | 8.8% | 6.9% | 5.8% |
| Number of ordinary shares on diluted basis (in millions) | 474.0 | 475.4 | 475.0 | 475.1 | 477.3 |
| Net income per diluted ordinary share (€) | 1.41 | 0.63 | 1.26 | 1.23 | 0.99 |
| Total shareholder return (%) | 10.6 | 23.5 | (35.3) | (4.3) | (8.2) |
(in € millions, unless otherwise stated)
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TPG Annual Report 2004 | top 190
Glossary of terms
Average total capital
The averaged sum of the total assets of two consecutive years.
Cash conversion efficiency
Net cash provided by operating activities as a percentage of total operating revenues.
Gearing at year end
The net debt as percentage of total group equity plus net debt.
Interest cover (times)
Total operating income divided by net financial (expenses)/ income.
Net return on equity
The net income as percentage of the total group equity.
Return on assets
The total operating income as a percentage of the total assets.
Return on average total capital
The total operating income as percentage of the average total capital.Capital expenditures on major fixed assets as % of turnover
The capital expenditures on property, plant and equipment and other intangibles as percentage of the total operating revenues.
Capital expenditures on investments as % of turnover
The capital expenditures on acquisitions of new or stake increase in existing group and or affiliated companies as percentage of the total operating revenues.Total shareholder return (source: Bloomberg Professional)
The total share price appreciation (or depreciation) plus return on reinvestment of gross dividend
TPG Annual Report 2004 | top 191