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Presentation of the groupPresentation of Sequana 1Key figuresCondensed analytical income statement(€ millions, except per share amounts) 2012 20112010managementpro forma Change 2012/2011Sales 3,852 3,944 4,016 -2.3%EBITDA (*) 134 135 206 -0.8%Operating margin 3.5% 3.4% 5.1% +0.1 pointsRecurring operating income 56 89 (1) 135 -37.2%Operating margin 1.4% 2.3% 3.4% -0.9 pointsRecurring net income (loss) (**) (5) 30 51 –Recurring diluted earnings (loss) per share (0.26) 2.41 1.01 –Non-recurring items (***) (114) (108) - –Net income (loss) attributable to owners (119) (77) 32 –Diluted earnings (loss) per share (5.85) (6.18) 0.64 –Weighted average shares outstanding, after dilution (2) 20,405,216 12,473,881 50,480,341 –(1) Including gains of €25 million (Arjowiggins: €17 million, Antalis: €8 million) arising on changes to pension plans, mainly in the UK. Adjusted for these items,recurring operating income amounted to €64 million instead of €89 million and the operating margin came in at 1.6% instead of 2.3%.(2) For 2012 and 2011, these figures reflect the corporation actions carried out in 2012.(*) Reconciliation of EBITDA(€ millions) 2012 20112010managementpro formaRecurring operating income (1) 56 89 135Less depreciation and amortisation (1) (66) (68) (68)Less movements in provisions (1) (12) 22 (3)EBITDA 134 135 206(1) See chapter 4 – Consolidated income statement.(**) Reconciliation of recurring net income(€ millions) 2012 20112010managementpro formaRecurring operating income (1) 56 89 135Net financial income (loss) (1) (51) (41) (50)Less Legg Mason and Permal shares – – (1)Income tax on recurring operating income (10) (19) (33)Non-controlling interests – 1 –RECURRING NET INCOME (LOSS) (5) 30 51(1) See chapter 4 – Consolidated income statement.(***) Reconciliation of non-recurring items(€ millions) 2012 2011 2010Other operating income and expenses (1) (124) (92) (30)Legg Mason and Permal shares – – 1Income tax on non-recurring items 10 (16) –Net income (loss) from discontinued operations (1) – – –NON-RECURRING ITEMS (114) (108) (29)(1) See chapter 4 – Consolidated income statement.Sequana | 2012 Document de référence (English version) | 11