USD m20202019201820172016

Net sales

630

686

613

569

521

Gross profit

391 

439

387

355

328

Operating expenses (excl. other income)

338 

341

304

280

256

EBITDA

93

141

107

97

94

EBITDA adjusted

93

150

115

103

98

EBIT

28

78

79

75

72

Net profit

8

69

80

58

51

Sales growth

Sales growth USD %

(8)

12

8

9

8

- Organic growth in LCY %

(10)

5

5

5

4

- Currency effect %

0

(4)

1

0

(1)

- Acquired/divested business %

2

11

2

4

5

Balance Sheet

Total assets

1,214

1,091

914

793

746

Equity

577 

569

538

500

467

Net interest-bearing debt (NIBD)

381 

302

180

121

119

Cash Flow

Cash generated by operations

119

120

92

90

88

Free cash flow

68

63

39

55

42

Key ratios

Gross profit margin %

62

64

63

62

63

EBIT margin %

4

14

13

13

14

EBITDA margin %

15 

21

18

17

18

EBITDA margin before special items %

15

22

19

18

19

Equity ratio %

48

52

59

63

63

Net debt to EBITDA

4.1

2.0

1.6

1.2

1.2

Effective tax rate %

38 

24

18

16

25

Return on equity %

1

12

15

12

11

CAPEX / Net sales %

3.8

4.6

5.0

3.4

4.7

Full time employees on average

3,505

3,382

2,775

2,948

2,710

Market

Market value of equity

3,380

3,340

2,055

1,871

1582

Number of shares in Millions

423 

425

431

437

443

Diluted EPS in US cents

1.9

16.2

18.7

13.3

11.6

Financial Highlights and Key Ratios