Key figures


Financial Highlights and Key Ratios

USD m 2020 2019 2018 2017 2016
 
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