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Five years in figures

Millions of euros

2021

2020

2019

2018

2017

Continuing operations*

     

Net sales

1,071

987

976

897

892

Operating result

82

104

61

88

122

Adjusted EBITDA 1

136

159

146

132

164

Result after taxes

78

73

26

54

85

Earnings per ordinary share in euros 2

1.33

1.24

0.44

0.93

1.46

Diluted earnings per ordinary share in euros 2

1.32

1.23

0.43

0.92

1.44

Cash flow from operating activities

22

109

114

100

118

Cash flow from operating activities per ordinary share, in euros 2**

0.38

1.85

1.94

1.70

2.03

Depreciation/amortization (in)tangible fixed assets

64

60

62

42

45

Capital expenditure on (in)tangible fixed assets

165

90

83

58

49

Adjusted EBITDA margin % 3

12.7

16.1

14.9

14.7

18.4

Result after taxes/net sales %

7.3

7.4

2.6

6.1

9.5

      

Total operations

     

Statement of financial position

     

Non-current assets

837

689

719

616

498

Current assets

462

334

327

303

295

Non-interest-bearing current liabilities

228

174

161

140

129

Covenant net debt position 4

362

284

303

203

162

Total net debt position 5

461

284

303

203

162

Provisions

39

30

28

28

24

Equity

554

516

529

520

489

      

Key data per ordinary share

     

Number of issued ordinary shares

59,242,792

59,242,792

59,242,792

59,242,792

59,242,792

Number of ordinary shares with dividend rights

58,950,269

58,871,671

58,819,590

58,764,635

58,620,564

Weighted average number of outstanding ordinary shares **

58,926,368

58,851,367

58,819,590

58,698,602

58,097,383

Price as at 31 December

41.44

46.15

28.12

24.46

27.00

Highest price in calendar year

53.60

46.70

29.96

29.74

29.39

Lowest price in calendar year

37.72

22.54

24.26

23.30

23.15

Market capitalization as at 31 December

2,443

2,717

1,654

1,437

1,583

Earnings in euros **

1.33

1.24

0.44

0.93

1.46

Diluted earnings in euros **

1.32

1.23

0.43

0.92

1.44

      

Other key data

     

Cash flow from operating activities

22

109

114

100

118

Depreciation/amortization (in)tangible fixed assets

64

60

62

42

45

Capital expenditure on (in)tangible fixed assets

165

90

83

58

49

Number of employees at closing date (FTE)

2,493

2,267

2,138

2,040

1,794

Equity per share in euros 6

9.40

8.76

9.00

8.85

8.35

Regular dividend in euros per ordinary share (reporting year)

0.56

0.56

0.56

0.56

0.56

      

Ratios

     

Covenant net debt position/ Covenant EBITDA 7

2.6

1.7

2.0

1.6

1.0

Interest cover 8

14.6

16.5

22.2

25.6

24.4

Balance sheet total : equity

1:0.4

1:0.5

1:0.5

1:0.5

1:0.6

Net debt position : equity

1:1.2

1:1.8

1:1.7

1:2.6

1:3

Current assets : current liabilities

1:0.6

1:0.6

1:0.9

1:0.7

1:0.6

* The previous years have not been restated for discontinued operations later on.

** Only the preceding year has been restated for stock dividend. 

  • 1 Adjusted EBITDA is the operating result before depreciation, amortization, impairment of (in)tangible fixed assets and after adjustments.
  • 2 Per ordinary share in euros after deduction of dividend on financing preference shares.
  • 3 Adjusted EBITDA margin % is adjusted EBITDA as defined above divided by net sales x 100.
  • 4 Covenant net debt position comprises borrowings (excluding subordinated loans) less cash and cash equivalents, including third-party guarantees which are required to be included under the debt covenants.
  • 5 Total net debt position comprises interest-bearing debts less cash and cash equivalents, including third-party guarantees which are required to be included under the debt covenants.
  • 6 Equity per share is equity divided by the number of shares with dividend rights.
  • 7 Covenant EBITDA is adjusted EBITDA as defined above, increased by cash dividend of joint ventures received and annualization effect of newly acquired and/or divested subsidiaries.
  • 8 Interest cover is covenant EBITDA as defined above divided by net interest income and charges.