Key figures


Financial Highlights and Key Ratios

USD m 2019 2018 2017 2016 2015
 
Net sales 686 613 569 521 483
Gross profit 439 387 355 328 303
Operating expenses (excl. other income) 341 304 280 256 226
EBITDA 141 107 97 94 97
EBITDA adjusted 150 115 103 98 99
EBIT 78 79 75 72 77
Net profit 69 80 58 51 51
Sales growth
Sales growth USD % 12 8 9 8 (5)
- Organic growth in LCY % 5 5 5 4 5
- Currency effect % (4) 1 0 (1) (11)
- Acquired/divested business % 11 2 4 5 1
Balance Sheet
Total assets 1,091 914 793 746 653
Equity 569 538 500 467 463
Net interest-bearing debt (NIBD) 302 180 121 119 58
Cash Flow
Cash generated by operations 120 92 90 88 84
Free cash flow 63 39 55 42 42
Key ratios
Gross profit margin % 64 63 62 63 63
EBIT margin % 14 13 13 14 16
EBITDA margin % 21 18 17 18 20
EBITDA margin before special items % 22 19 18 19 20
Equity ratio % 52 59 63 63 71
Net debt to EBITDA 2.0 1.6 1.2 1.2 0.6
Effective tax rate % 24 18 16 25 25
Return on equity % 12 15 12 11 11
CAPEX / Net sales % 4.6 5.0 3.4 4.7 4.9
Full time employees on average 3,382 2,775 2,948 2,710 2,420
Market
Market value of equity 3,340 2,055 1,871 1582 1,546
Number of shares in Millions 425 431 437 443 446
Diluted EPS in US cents 16.2 18.7 13.3 11.6 11.5