Financial analysis

摘要

Revenues for the Cf-100 in 2013, the year on which the rankings are based, came to €431 billion, just under a 2% reduction on last year's figure. However, despite the slight downturn, this was still the second highest total on record. The good news as far as this year's results are concerned is that there was a marked improvement in profitability among the group. The average operating margin among the Cf-100 ticked-up to 4.72% last year, compared to an all-time low of 4.18% in last year's edition of the ranking. This was the first significant up-turn in profitability for six years, although 4.72% is still a weak margin and a long way below the pre-crisis high of 7.19%.