Economic Indicators

  Unit 2017 2016 2015 2014 2013
Consolidated sales MUSD 171,493 149,743 165,357 236,122 251,725
Adjusted net operating income from business segments (a) (b) MUSD 11,936 9,410 11,327 14,247 15,861
Adjusted net income (Group share) (a) MUSD 10,578 8,287 10,518 12,837 14,292
Adjusted fully-diluted earnings per share (a) (c) USD 4.12 3.38 4.51 5.63 6.29
Dividend per share (d) 2.48 2.45 2.44 2.44 2.38
Net-debt-to-equity ratio (as of December 31) % 13.8 27.1 28.3 31.3 23.3
Return on Average Capital Employed (ROACE) (e) % 9.4 7.5 9.4 11.1 13.0
Return on Equity (ROE) % 10.1 8.7 11.5 13.5 14.9
Cash flow from operations MUSD 22,319 16,521 19,946 25,608 28,513
Gross investments (f) MUSD 16,896 20,530 28,033 30,509 34,431
Organic Investments (g) MUSD 14,395 17,484 22,976 26,430 28,309
Divestments MUSD 5,264 2,877 7,584 6,190 6,399