OverviewOverviewWright Industry Averages - Overview
Wright Industry Averages:
Food and Beverages (Europe)
Prepared December 03, 2008
Wright Industry Averages are a compilation of data derived from the CorporateInformation
global research service developed and marketed by Wright Investors' Service.
CorporateInformation consists of research reports on over 30,000 publicly traded companies in
59 countries. The primary source of the data contained in the Wright Industry Averages is the
Thomson Reuters Worldscope Database which Wright Investors' Service developed over 20
years ago and subsequently sold to Thomson.
Major Industry Identification
The Wright Industry Averages are developed on 28 Major Industries:
Advertising and Public Relations Machinery and Industrial Equipment
Aerospace and Airlines Media, News, Broadcasting and Publications
Apparel, Clothing and Textiles Metals and Mining (Non-Ferrous)
Automotive Paper and Printing
Computers and Software Recreation and Entertainment
Construction Restaurants and Hotels
Electrical Equipment and Appliances Retail and Wholesale
Electronics Rubber and Plastic
Energy, Oil, Gas and Electricity Shipping and Shipbuilding
Food and Beverages Steel
Health, Medicine and Pharmaceuticals Trucking and Freight
Wright Industry Averages are available for each of the 28 industries on a global basis. Where
there are a significant number of companies in the industry (a minimum of 15), Wright Industry
Averages reports are also compiled on a regional basis. The seven regions for which Wright
Industry Averages are compiled are: Africa, Asia, Australasia, Europe, Latin America, Middle
East and North America. Industry Averages reports are also available for the United States.
Sub-Industry Averages - Identification
There are over 160 sub-industry groupings within the CorporateInformation research service.
These sub-industries are identified at http://www.corporateinformation.com/Company-
Advanced-Search.aspx . When there are a significant number of companies (a minimum of 15),
Wright Industry Averages will be compiled on select sub-industries on a global and in some
cases a regional and national basis. An example of a typical sub-industry is Exploration,
Drilling Service and Equipment within the Energy, Oil, Gas and Electricity major industry sector.
Reports Contained in Wright Industry Averages
The following 19 reports are prepared for each Industry sector.
Summary Analysis Key Ratios: Market Price, Earnings, Book Value,Dividends
Income Statement (4) Actual Values, Common Size, Year-to-Year Percent Change and
Five (5) Year Averages
Balance Sheet (4) Actual Values, Common Size, Year-to-Year Percent Change and
Five (5) Year Averages
Sources of Capital Actual Values, Common Size, Year-to-Year Net Changes, Year-to-
Year Percent Changes, Cash Flow(Operating, Financing and
Sales Analysis Sales, Cost of Goods Sold, EBITDA, Net Income Available to
Common Shareholders, Employee Efficiency
Financial Ratio Reports (8) Accounting Ratios, Asset Utilization, Employee Efficiency, Fixed
Charges Coverage, Leverage Analysis, Liquidity Analysis, Per
Share Data, Profitability Analysis
Fiscal Year and Currency
The Wright Industry Averages Reports are compiled on a fiscal year basis. Companies ending
their fiscal year in January are grouped with the prior year's reports. The values for 2007 for
example are contributed by those companies that ended their fiscal year after 31 January 2007
and prior to 1 February 2008. The values shown for all reports are presented in U.S. dollars.
Data Compilation Steps Followed in Development of Industry Averages
1. All companies with less than $1 million (U.S.) in Net Sales were excluded from the study.
2a. All currency items (e.g. Total Assets) in the financial statements (i.e. Balance Sheet,
Income Statement and Sources of Capital reports) were converted to U.S. Dollars using an
average exchange rate for each fiscal year.
2b. A sum (aggregate value) was computed for all financial statement items by totaling the
values reported by each company in the industry.
2c. Industry Average report values were computed by dividing the aggregate values (Step 2b)
by the number of companies reporting.
3. Non-currency items (e.g. Total Shares Outstanding) represent the arithmetic average of
values reported by all companies. Ratios (other than per share ratios) were computed by using
in the numerator and denominator values that represent the aggregate total for all of the
companies in the industry.
4. Per share ratios are computed by using in the numerator a specific value that represents the
aggregate sum for all companies in the industry divided by the aggregate value of the average
number of appropriate common shares for each company.
5. Income Statement Adjustments
Most companies in the industry reported Operating Income along with the major components
Financial Statement AnalysesSources of Capital
Sources of Capital: Food and Beverages Industry Averages (Europe)
Currency figures are in millions of U.S. Dollars.
Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year 2007 2006 2005 2004 2003 2002
Total Capital 1,430.5 1,164.1 977.0 1,005.9 921.7 849.9
Long Term Debt 451.0 366.7 324.7 349.7 335.1 307.2
Minority Interest 44.8 36.0 30.4 40.7 44.9 43.3
Preferred Stock 1.5 1.5 1.4 9.4 9.2 8.5
Common Equity 931.8 758.7 619.4 604.5 530.9 489.9
Percent of Total Capital
Long Term Debt 31.5% 31.5% 33.2% 34.8% 36.4% 36.1%
Minority Interest 3.1% 3.1% 3.1% 4.0% 4.9% 5.1%
Preferred Stock 0.1% 0.1% 0.1% 0.9% 1.0% 1.0%
Common Equity 65.1% 65.2% 63.4% 60.1% 57.6% 57.6%
Total Capital 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Year to Year Net Changes (in millions of U.S.
Long Term Debt 84.3 42.0 -25.0 14.6 27.9 -47.0
Minority Interest 8.8 5.6 -10.2 -4.2 1.6 1.7
Preferred Stock -0.0 0.1 -8.0 0.2 0.7 0.1
Common Equity 173.1 139.3 14.9 73.6 41.0 -20.0
Total Capital 266.4 187.1 -28.9 84.1 71.8 -65.3
Year to Year Percent Changes
Long Term Debt 23.0% 12.9% -7.2% 4.3% 9.1% -13.3%
Minority Interest 24.5% 18.2% -25.2% -9.4% 3.6% 4.0%
Preferred Stock -0.9% 8.8% -85.1% 2.1% 8.2% 1.8%
Common Equity 22.8% 22.5% 2.5% 13.9% 8.4% -3.9%
Total Capital 22.9% 19.2% -2.9% 9.1% 8.5% -7.1%
Total Liabilities & Common Equity
Total Liabilities 1,338.6 1,079.5 971.0 1,011.6 996.1 971.7
Net Change in Liabilities as
19.4% 10.1% -4.2% 1.5% 2.5% -9.1%
% of Total Liabilities