Sales advanced 2.8% organically, with foreign exchange rate fluctuations having a negative impact of 1.7%. Excluding hyperinflation in Iran, sales grew 3.2% organically versus 2019.
Operating income totaled €245 million, a 16.1% increase that reflects improved gross margin, the high level of productivity maintained throughout the year, excellent operations execution, and cost-cutting efforts.
Net financial result improved to a negative €27.3 million, from a negative €28.2 million in 2019, notably as a result of lower net financial debt cost. Operating cash flow advanced a robust €76 million during the year to €386 million.