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.