9.1
Historical overview and agenda 2019

(in millions of euro, unless stated otherwise)

  2018 2017 2016 2015 2014
 
Result
Net turnover 1,094.3 1,068.5 1,048.2 986.4 882.4
Operating profit (EBIT) 33.0 38.0 60.4 58.5 44.1
Depreciation, amortization and impairments 12.3 11.1 10.3 10.1 8.9
Net finance cost -7.6 -8.2 -8.3 -9.1 -8.8
Taxes 15.6 19.7 20.4 16.2 9.3
Net profit 20.3 10.5 32.3 32.3 26.5
Free cash flow 1) 15.9 -4.9 61.3 -31.2 38.3
 
Balance sheet
Balance sheet total 6) 761.9 705.3 703.4 731.7 631.8
Property, plant and equipment 66.5 69.4 71.7 69.8 68.1
Capital employed 2) 513.7 486.2 494.1 532.3 461.2
Group equity 322.4 299.3 319.4 305.9 281.1
Net debt 151.8 161.0 147.3 200.0 152.3
 
Data per share 3)(in euros)
Group equity 12.18 11.33 12.13 11.61 10.68
Free cash flow 0.60 -0.19 2.33 -1.18 1.46
Net profit 0.77 0.40 1.23 1.22 1.01
Dividend 4) 0.50 0.49 0.68 0.65 0.54
Closing price of share 18.84 23.43 21.91 21.07 13.60
 
Ratios (in %)
EBIT/Capital employed 6.4 7.8 12.2 11.0 9.6
Operating profit/turnover 3.0 3.6 5.8 5.9 5.0
Net profit/turnover 1.9 1.0 3.1 3.3 3.0
Free cash flow/turnover 1.5 -0.5 5.8 -3.2 4.3
Solvency (based on group capital) 5) 42.3 42.4 45.4 41.8 44.5
Net debt/EBITDA 3.4 3.3 2.1 2.9 2.9
Working capital/turnover 26.4 29.5 29.2 34.2 30.5
 
Other information
Average number of employees (fte) 3,327 3,088 3,124 3,371 2,796
Number of issued shares at year-end 26,597,354 26,255,179 25,834,236 25,270,327 24,864,956
Weighted average number of issued shares 26,474,308 26,101,222 25,623,405 25,116,249 24,685,681
Market capitalization 501.1 615.2 566.0 532.4 338.2
 
1) Free cash flow is defined as the balance of the net cash flow from operating- and investment activities.
2) Capital employed is the balance sheet total minus cash and cash equivalents and current non-interest bearing obligations (including current part of provisions).
3) The data per share are calculated based on the weighted average number of issued shares. The data per share for the years 2014-2017 have been adjusted for the dilution resulting from the issue of stock dividend charged to the share premium reserve in accordance with the International Financial Reporting Standards (IAS33). The adjustment factor that was applied in the reporting year for 2017 and for previous years is 0.98816.
4) The dividend per share relating to the financial year 2017 concerns the proposal to be submitted to the General Meeting of Shareholders.
5) Balance sheet total and solvency 2016 are determined after offsetting the balances in the notional cash pooling arrangements.

Financial agenda 2019