6 - Vicat

Selected financial information3.2. Selected financial information3Simplified changes in consolidated shareholders’ equity (including minority interests)(in millions of euros) 2009 2008 2007Equity as at January 1 1,954 1,717 1,700Income of the year 234 273 331Dividends (89) (71) (67)Effect of currency fluctuations (36) - (30)Change in consolidation scope (minority interests) 8 2 11Other changes (1) 11 33 (228)Shareholders’ equity as at December 31 2,082 1,954 1,717(2)Relating principally in 2007 to the purchase of shares and to changes in the fair value of the financial assets and liabilities.Consolidated financial ratios(in millions of euros) 2009 2008 2007Net debt/total equity (in %) 31.4 34.7 30.0Net debt/EBITDA (1) 1.38 1.28 0.87Net debt/SFC (2) 1.68 1.68 1.08Hedging of financial expenses - - -by EBITDA 19.7 17.6 27.6by EBIT 13.4 13.0 22.3(1)Earnings Before Interest, Taxes, Depreciation and Amortization : gross operating earnings less other ordinary income (expense). EBITDA isnot an aggregate defined by accounting principles. Since EBITDA is calculated differently from one company to another, the data providedin this Registration Document and related to the Group’s EBITDA might not be comparable to EBITDA data from other companies.(2)SFC : self-financing capacity.2009 registration document - VICAT 11