foreign exchange volatility, which can mask underlying trends.

The Group also considers that separately presenting organic revenue generated by its businesses provides management and investors with useful information on trends in its industrial businesses and enables a more direct comparison with other companies in its industry.

Organic revenue growth represents the percentage of revenue growth, presented at Group level and for each business, based on a constant scope of consolidation and exchange rates over comparable periods:


Constant scope of consolidation: data are restated for the impact of changes in the scope of consolidation over a 12month period,

Constant exchange rates: data for the current year are restated using exchange rates for the previous year.


Scope effect

To establish a meaningful comparison between reporting periods, the impact of changes in the scope of consolidation is determined:


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