consolidated financial highlights
consolidated financial highlights
| millions of euros and percentage | 2010 | 2009 | 2008 |
| Revenue | 21,123 | 17,745 | 17,933 |
| Profit from recurring operations | 4,338 | 3,356 | 3,621 |
| Net profit | 3,269 | 1,902 | 2,224 |
| Group share of net profit | 1,261 | 695 | 796 |
| Cash from operations before changes in working capital (1) | 4,911 | 3,964 | 4,141 |
| Operating investments | 1,078 | 763 | 980 |
| Net cash from operating activities and operating investments (Free Cash Flow) | 3,013 | 2,194 | 1,276 |
| Total equity | 19,570 | 16,121 | 15,171 (2) |
| Net financial debt (3) | 4,142 | 4,460 | 5,370 |
| Net financial debt (3)/Total equity ratio | 21% | 28% | 35% |
(1) Before tax and interest paid.
(2) Restated to reflect the retrospective application as of January 1, 2007
of IAS 38 Intangible assets as amended.
See Note 1.2 to the consolidated financial statements.
(3) Net financial debt does not take into consideration amount of purchase
commitments for minority interests included in Other non-current liabilities.
See Note 17.1 to the consolidated financial statements for the definition of the net
financial debt.
