Key figures


Financial Highlights and Key Ratios

USD m 2018 2017 2016 2015 2014
 
Net sales 569 521 483 509 436
Gross profit 355 328 303 323 270
Operating expenses (excl. other income) 280 256 226 237 210
EBITDA 97 94 97 104 75
EBITDA before special items 103 98 99 104 80
EBIT 75 72 77 86 60
Net sales 613 569 521 483 509
Gross profit 387 355 328 303 323
Operating expenses (excl. other income) 304 280 256 226 237
EBITDA 107 97 94 97 104
EBITDA adjusted 115 103 98 99 104
EBIT 79 75 72 77 86
Net profit 80 58 51 51 59
Sales growth
Sales growth USD % 8 9 8 (5) 17
- Organic growth in LCY % 5 5 4 5 5
- Currency effect % 1 0 (1) (11) (1)
- Acquired/divested business % 2 4 5 1 13
Balance Sheet
Total assets 914 793 746 653 678
Equity 538 500 467 463 442
Net interest-bearing debt (NIBD) 180 121 119 58 93
Cash Flow
Cash generated by operations 92 90 88 84 98
Free cash flow 39 55 42 42 68
Key ratios
Gross profit margin % 63 62 63 63 63
EBIT margin % 13 13 14 16 17
EBITDA margin % 18 17 18 20 20
EBITDA margin before special items % 19 18 19 20 20
Equity ratio % 59 63 63 71 65
Net debt to EBITDA 1.6 1.2 1.2 0.6 0.9
Effective tax rate % 18 16 25 25 24
Return on equity % 15 12 11 11 13
CAPEX / Net sales % 5.0 3.4 4.7 4.9 3.3
Full time employees on average 2,775 2,948 2,710 2,420 2,214
Market
Market value of equity 2,055 1,871 1582 1,546 1,311
Number of shares in Millions 431 437 443 446 454
Diluted EPS in US cents 18.7 13.3 11.6 11.5 13.1