Aktieselskabet Schouw & Co. |
Key figures (unauditet) |
2014-2020 |
Quarterly figures and full-year figures |
Disclamer: |
The following pages are intended to summarise previously released financial information. We aim to keep the form and format unchanged, but no warrenty is given. |
In case of discrepancy between this spreadsheet and the publicated pdf-file through the stock exchange, it will always bee that through the stock exchange publicated material that apply. |
Statement of income and comprehensive income - Schouw & Co. Group | ||||||||||||||||||||||||||||||||||
NEW | ||||||||||||||||||||||||||||||||||
Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
Revenue | 2,405 | 2,659 | 3,618 | 3,102 | 2,784 | 3,104 | 3,600 | 3,078 | 2,776 | 3,373 | 4,325 | 3,896 | 3,584 | 4,123 | 4,835 | 4,491 | 3,851 | 4,534 | 5,034 | 4,834 | 4,676 | 4,969 | 5,872 | 5,428 | 4,802 | 4,938 | 11,162 | 11,645 | 11,784 | 12,566 | 14,369 | 17,032 | 18,253 | 20,946 |
Cost of sale | -2,063 | -2,270 | -3,089 | -2,650 | -2,371 | -2,672 | -3,050 | -2,527 | -2,296 | -2,799 | -3,606 | -3,252 | -2,999 | -3,456 | -4,017 | -3,720 | -3,202 | -3,780 | -4,220 | -4,076 | -3,931 | -4,189 | -4,884 | -4,572 | -4,030 | -4,110 | -9,412 | -9,964 | -10,073 | -10,620 | -11,952 | -14,192 | -15,278 | -17,576 |
Gross profit | 341 | 389 | 529 | 452 | 413 | 432 | 549 | 552 | 480 | 574 | 719 | 644 | 585 | 667 | 818 | 771 | 649 | 754 | 815 | 757 | 745 | 781 | 988 | 856 | 772 | 828 | 1,750 | 1,681 | 1,711 | 1,946 | 2,417 | 2,840 | 2,975 | 3,370 |
Other operating income | 2 | 3 | 6 | 3 | 5 | 3 | 2 | 14 | 8 | 26 | 10 | 30 | 3 | 1 | 21 | 27 | 12 | 18 | 4 | 6 | 7 | 14 | 4 | 12 | 5 | 9 | 14 | 65 | 13 | 24 | 74 | 51 | 41 | 37 |
Distribution costs | -157 | -161 | -180 | -159 | -164 | -175 | -178 | -180 | -201 | -228 | -231 | -221 | -240 | -265 | -288 | -306 | -291 | -313 | -332 | -290 | -317 | -334 | -351 | -333 | -331 | -327 | -714 | -703 | -657 | -697 | -879 | -1,098 | -1,225 | -1,335 |
Administrative expenses | -88 | -89 | -85 | -97 | -102 | -109 | -104 | -127 | -130 | -157 | -148 | -136 | -169 | -168 | -184 | -173 | -186 | -193 | -176 | -185 | -231 | -236 | -220 | -231 | -209 | -196 | -370 | -358 | -359 | -442 | -571 | -693 | -741 | -918 |
Other operating expenses | 0 | -0 | -0 | -1 | 0 | 0 | 0 | 0 | -0 | 0 | -0 | -2 | -0 | 3 | -6 | -5 | -1 | -0 | -2 | -0 | -1 | -1 | 0 | -3 | -7 | -5 | -1 | -1 | -1 | 0 | -2 | -8 | -3 | -5 |
Operating profit (EBIT) | 99 | 141 | 270 | 199 | 152 | 151 | 269 | 259 | 157 | 215 | 351 | 316 | 178 | 238 | 362 | 314 | 183 | 266 | 309 | 289 | 202 | 224 | 421 | 303 | 229 | 309 | 679 | 685 | 708 | 831 | 1,039 | 1,093 | 1,047 | 1,149 |
Profit after tax in associates | -17 | 11 | 23 | 7 | 17 | 25 | 24 | 9 | 16 | 32 | 519 | 4 | 1 | 1 | 10 | 19 | 3 | 13 | 19 | 28 | 16 | 5 | 6 | 22 | 11 | -10 | -5 | -21 | 23 | 75 | 572 | 32 | 63 | 49 |
Profit after tax in joint ventures | 5 | 2 | 3 | 6 | 1 | -2 | 1 | -4 | -1 | -1 | 3 | 0 | 8 | -1 | 4 | -0 | 5 | -1 | 3 | 4 | -5 | 4 | 4 | -0 | 12 | -5 | 10 | 8 | 1 | |||||
Gains on equity divestments | 9 | 0 | 29 | 0 | 0 | 0 | 2 | 9 | 29 | |||||||||||||||||||||||||
Financial income | 9 | 7 | 14 | 22 | 33 | 5 | 9 | 4 | 10 | 11 | 10 | 3 | 4 | 58 | 10 | 23 | 17 | 17 | 18 | 35 | 29 | 7 | 22 | 26 | 27 | 8 | 86 | 527 | 52 | 50 | 33 | 78 | 79 | 84 |
Financial expenses | -17 | -17 | -21 | -32 | -14 | -23 | -68 | 8 | -24 | -13 | -16 | -6 | -19 | -45 | -35 | -26 | -30 | -40 | -45 | -11 | -32 | -49 | -42 | -41 | -58 | -41 | -226 | -81 | -87 | -97 | -60 | -108 | -119 | -164 |
Profit before tax | 74 | 141 | 286 | 201 | 189 | 160 | 240 | 282 | 157 | 247 | 860 | 315 | 163 | 256 | 347 | 339 | 172 | 259 | 301 | 355 | 213 | 218 | 411 | 306 | 212 | 272 | 535 | 1,109 | 701 | 871 | 1,578 | 1,105 | 1,086 | 1,149 |
Tax on profit | -20 | -32 | -65 | -156 | -65 | -34 | -71 | -57 | -41 | -54 | -84 | -61 | -41 | -55 | -84 | -49 | -54 | -58 | -71 | -108 | -47 | -44 | -95 | -57 | -53 | -69 | -127 | -249 | -274 | -226 | -240 | -230 | -290 | -243 |
Total profit | 54 | 109 | 220 | 45 | 124 | 127 | 169 | 225 | 116 | 193 | 776 | 254 | 122 | 201 | 262 | 289 | 118 | 201 | 230 | 247 | 167 | 175 | 316 | 249 | 159 | 203 | 498 | 1,368 | 428 | 645 | 1,339 | 875 | 796 | 906 |
Attributable to: | ||||||||||||||||||||||||||||||||||
Shareholders of Schouw & Co. | 54 | 109 | 220 | 45 | 125 | 128 | 171 | 225 | 117 | 192 | 777 | 255 | 124 | 203 | 264 | 289 | 118 | 203 | 232 | 248 | 167 | 175 | 317 | 252 | 162 | 203 | 496 | 1,367 | 428 | 648 | 1,342 | 880 | 801 | 911 |
Non-controlling interests | 0 | 0 | 0 | -0 | -0 | -2 | -2 | 0 | -1 | 0 | -1 | -1 | -1 | -2 | -2 | 0 | -0 | -2 | -2 | -1 | 0 | -1 | -1 | -3 | -3 | 0 | 1 | 0 | -0 | -3 | -3 | -5 | -5 | -5 |
Profit for the period | 54 | 109 | 220 | 44 | 124 | 127 | 169 | 225 | 116 | 193 | 776 | 254 | 122 | 201 | 262 | 289 | 118 | 201 | 230 | 247 | 167 | 175 | 316 | 249 | 159 | 203 | 498 | 1,368 | 428 | 645 | 1,339 | 875 | 796 | 906 |
Earnings per share (DKK) | 2.25 | 4.60 | 9.33 | 1.90 | 5.29 | 5.43 | 7.23 | 9.52 | 4.95 | 8.10 | 32.74 | 10.77 | 5.20 | 8.51 | 11.03 | 12.11 | 4.94 | 8.45 | 9.64 | 10.40 | 7.05 | 7.37 | 13.31 | 10.54 | 6.76 | 8.49 | 21.09 | 57.46 | 18.08 | 27.48 | 56.56 | 36.85 | 33.43 | 38.27 |
Diluted earnings per share (DKK) | 2.24 | 4.57 | 9.30 | 1.91 | 5.28 | 5.41 | 7.20 | 9.49 | 4.94 | 8.08 | 32.65 | 10.74 | 5.16 | 8.43 | 10.96 | 12.08 | 4.91 | 8.42 | 9.62 | 10.40 | 7.04 | 7.36 | 13.30 | 10.57 | 6.76 | 8.49 | 21.07 | 57.28 | 18.02 | 27.38 | 56.41 | 36.63 | 33.35 | 38.27 |
Comprehensive income | ||||||||||||||||||||||||||||||||||
Actuarial gains/losses on defined benefit pension obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | ||
Exchange rate adjustment of foreign subsidiaries | 18 | 24 | 154 | (5) | 294 | (102) | (135) | 47 | (39) | 14 | (39) | 48 | 14 | (144) | (78) | (18) | (51) | 97 | (1) | 36 | 134 | -67 | 161 | -65 | -170 | -33 | 37 | (202) | 191 | 105 | (16) | (226) | 81 | 163 |
Hedging instruments recognised during the year | (11) | 2 | (4) | (6) | 3 | (8) | 18 | (10) | (16) | 24 | (19) | 8 | 2 | (2) | 6 | (11) | 0 | (1) | 2 | -2 | 2 | -8 | 11 | -5 | -6 | 17 | (31) | 13 | (19) | 3 | (4) | (4) | (2) | 0 |
Hedging instruments transferred to cost of sales | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) | 0 | 0 | 0 | 0 | (8) | 8 | (0) | 2 | 0 | 0 | -1 | -1 | 0 | 0 | 3 | -2 | 0 | (5) | 2 | 1 | 0 | (1) | 0 | 1 | 2 |
Hedging instruments transferred to financials | 1 | 1 | 1 | 5 | 1 | 1 | 2 | 3 | 0 | 0 | (0) | 7 | 1 | 1 | 0 | 2 | 5 | (3) | (2) | 5 | 1 | 1 | 0 | 2 | 0 | -1 | 13 | 11 | 8 | 7 | 7 | 5 | 5 | 4 |
Other comprehensive income from associates and joint ventures | (0) | 3 | (1) | (9) | (6) | 5 | (7) | (1) | (1) | (0) | 23 | (11) | (1) | 0 | (0) | (22) | (3) | (2) | (1) | 7 | 0 | 0 | 0 | 9 | 0 | 0 | (1) | (3) | (7) | (8) | 10 | (22) | 2 | 9 |
Other adjustments recognised in other comprehensive income | 0 | (0) | (1) | (1) | 0 | 1 | (0) | (1) | (0) | (5) | (1) | 1 | 1 | 0 | (0) | (8) | 1 | (0) | 3 | -3 | 0 | -1 | 0 | 1 | 1 | -1 | 0 | 0 | (2) | (0) | (4) | (8) | 0 | 0 |
Tax on other comprehensive income | 2 | (1) | 1 | 1 | (1) | 2 | (5) | 1 | 4 | (5) | 5 | (4) | (1) | 1 | (3) | 3 | (2) | 1 | 0 | -0 | 0 | 2 | -3 | 0 | 1 | -3 | 6 | (6) | 3 | (3) | (0) | 0 | (1) | (1) |
Other comprehensive income after tax | 11 | 29 | 151 | (15) | 292 | (100) | (127) | 40 | (54) | 28 | (32) | 49 | 17 | (151) | (67) | (53) | (48) | 92 | 1 | 42 | 135 | -73 | 170 | -52 | -175 | -22 | 19 | (172) | 175 | 104 | (8) | (254) | 86 | 180 |
Total profit | 54 | 109 | 220 | 45 | 124 | 127 | 169 | 225 | 116 | 193 | 776 | 254 | 122 | 201 | 262 | 289 | 118 | 201 | 230 | 247 | 167 | 175 | 316 | 249 | 159 | 203 | 498 | 1,368 | 428 | 645 | 1,339 | 875 | 796 | 906 |
Total recognised comprehensive income | 65 | 138 | 371 | 29 | 416 | 26 | 42 | 264 | 63 | 220 | 745 | 303 | 139 | 50 | 195 | 236 | 70 | 293 | 231 | 289 | 302 | 101 | 485 | 198 | -17 | 182 | 516 | 1,195 | 603 | 749 | 1,331 | 620 | 882 | 1,086 |
Attributable to: | ||||||||||||||||||||||||||||||||||
Shareholders of Schouw & Co. | 65 | 138 | 371 | 29 | 416 | 27 | 47 | 266 | 64 | 220 | 745 | 306 | 140 | 53 | 198 | 235 | 70 | 296 | 235 | 287 | 302 | 102 | 487 | 200 | -14 | 182 | 515 | 1,195 | 603 | 756 | 1,335 | 625 | 888 | 1,091 |
Non-controlling interests | 0 | 0 | 0 | (0) | (0) | (1) | (5) | (2) | (1) | 0 | 0 | (4) | (1) | (3) | (2) | 1 | (0) | (3) | (4) | 1 | 0 | -1 | -1 | -3 | -2 | 0 | 1 | 0 | (0) | (8) | (4) | (5) | (5) | (5) |
Total recognised comprehensive income | 65 | 138 | 371 | 29 | 416 | 26 | 42 | 264 | 63 | 220 | 745 | 303 | 139 | 50 | 195 | 236 | 70 | 293 | 231 | 289 | 302 | 101 | 485 | 198 | -17 | 182 | 516 | 1,195 | 603 | 749 | 1,331 | 620 | 882 | 1,086 |
ROIC excl. goodwill | 17.3% | 18.1% | 18.7% | 16.9% | 17.5% | 17.0% | 17.0% | 18.3% | 18.2% | 19.1% | 19.9% | 20.2% | 20.0% | 19.6% | 18.8% | 17.6% | 16.7% | 16.3% | 15.2% | 14.5% | 13.7% | 12.4% | 12.8% | 12.3% | 12.5% | 13.4% | 16.9% | 18.3% | 20.2% | 17.6% | 14.5% | 12.3% | ||
ROIC incl. goodwill | 14.3% | 15.0% | 15.4% | 14.0% | 14.5% | 14.1% | 14.0% | 15.1% | 14.9% | 15.6% | 16.4% | 16.6% | 16.6% | 16.1% | 15.1% | 13.8% | 13.0% | 12.6% | 11.8% | 11.3% | 10.8% | 9.9% | 10.3% | 10.0% | 10.1% | 10.9% | 14.0% | 15.1% | 16.6% | 13.8% | 11.3% | 10.0% | ||
Calculation of ROIC: | ||||||||||||||||||||||||||||||||||
EBITA (LTM) | 745 | 760 | 783 | 729 | 782 | 793 | 794 | 854 | 864 | 935 | 1,026 | 1,090 | 1,114 | 1,148 | 1,167 | 1,176 | 1,196 | 1,230 | 1,181 | 1,156 | 1,180 | 1,144 | 1,260 | 1,284 | 1,309 | 1,393 | 729 | 854 | 1,090 | 1,176 | 1,156 | 1,284 | ||
Average investered capital excl. goodwill | 4,307 | 4,189 | 4,193 | 4,313 | 4,471 | 4,657 | 4,680 | 4,664 | 4,753 | 4,899 | 5,161 | 5,399 | 5,565 | 5,863 | 6,200 | 6,681 | 7,152 | 7,533 | 7,790 | 7,968 | 8,599 | 9,193 | 9,826 | 10,442 | 10,478 | 10,375 | 4,313 | 4,664 | 5,399 | 6,676 | 7,968 | 10,442 | ||
Average investered capital incl. goodwill | 5,190 | 5,066 | 5,074 | 5,218 | 5,411 | 5,627 | 5,675 | 5,668 | 5,791 | 5,974 | 6,274 | 6,552 | 6,727 | 7,152 | 7,754 | 8,494 | 9,216 | 9,739 | 10,003 | 10,191 | 10,883 | 11,527 | 12,219 | 12,865 | 12,913 | 12,814 | 5,218 | 5,668 | 6,552 | 8,494 | 10,191 | 12,865 | ||
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 4,591 | 4,471 | 4,045 | 4,122 | 4,116 | 4,487 | 4,528 | 4,755 | 4,859 | 4,578 | 4,464 | 5,114 | 5,441 | 5,626 | 5,416 | 5,778 | 6,634 | 6,974 | 7,337 | 7,665 | 8,157 | 8,001 | 8,048 | 10,192 | 10,532 | 10,533 | 4,122 | 4,755 | 5,114 | 5,778 | 7,665 | 10,192 | ||
Invested capital 6 months ago | 4,471 | 4,045 | 4,122 | 4,116 | 4,487 | 4,528 | 4,755 | 4,859 | 4,578 | 4,464 | 5,114 | 5,441 | 5,626 | 5,416 | 5,778 | 6,634 | 6,974 | 7,337 | 7,665 | 8,157 | 8,001 | 8,048 | 10,192 | 10,532 | 10,533 | 10,510 | 4,116 | 4,859 | 5,441 | 6,624 | 8,157 | 10,532 | ||
Invested capital 3 months ago | 4,045 | 4,122 | 4,116 | 4,487 | 4,528 | 4,755 | 4,859 | 4,578 | 4,464 | 5,114 | 5,441 | 5,626 | 5,416 | 5,778 | 6,634 | 6,974 | 7,337 | 7,665 | 8,157 | 8,001 | 8,048 | 10,192 | 10,532 | 10,533 | 10,510 | 10,336 | 4,487 | 4,578 | 5,626 | 6,964 | 8,001 | 10,533 | ||
Invested capital current period | 4,122 | 4,116 | 4,487 | 4,528 | 4,755 | 4,859 | 4,578 | 4,464 | 5,114 | 5,441 | 5,626 | 5,416 | 5,778 | 6,634 | 6,974 | 7,337 | 7,665 | 8,157 | 8,001 | 8,048 | 10,192 | 10,532 | 10,533 | 10,510 | 10,336 | 10,119 | 4,528 | 4,464 | 5,416 | 7,337 | 8,048 | 10,510 | ||
Average | 4,307 | 4,189 | 4,193 | 4,313 | 4,471 | 4,657 | 4,680 | 4,664 | 4,753 | 4,899 | 5,161 | 5,399 | 5,565 | 5,863 | 6,200 | 6,681 | 7,152 | 7,533 | 7,790 | 7,968 | 8,599 | 9,193 | 9,826 | 10,442 | 10,478 | 10,375 | 4,313 | 4,664 | 5,399 | 6,676 | 7,968 | 10,442 | ||
Average investered capital incl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 5,488 | 5,351 | 4,921 | 4,998 | 4,994 | 5,384 | 5,498 | 5,767 | 5,857 | 5,576 | 5,470 | 6,261 | 6,591 | 6,773 | 6,585 | 6,958 | 8,292 | 9,181 | 9,544 | 9,846 | 10,383 | 10,239 | 10,296 | 12,613 | 12,961 | 13,006 | 4,998 | 5,767 | 6,261 | 6,958 | 9,846 | 12,613 | ||
Invested capital 6 months ago | 5,351 | 4,921 | 4,998 | 4,994 | 5,384 | 5,498 | 5,767 | 5,857 | 5,576 | 5,470 | 6,261 | 6,591 | 6,773 | 6,585 | 6,958 | 8,292 | 9,181 | 9,544 | 9,846 | 10,383 | 10,239 | 10,296 | 12,613 | 12,961 | 13,006 | 12,881 | 4,994 | 5,857 | 6,591 | 8,292 | 10,383 | 12,961 | ||
Invested capital 3 months ago | 4,921 | 4,998 | 4,994 | 5,384 | 5,498 | 5,767 | 5,857 | 5,576 | 5,470 | 6,261 | 6,591 | 6,773 | 6,585 | 6,958 | 8,292 | 9,181 | 9,544 | 9,846 | 10,383 | 10,239 | 10,296 | 12,613 | 12,961 | 13,006 | 12,881 | 12,803 | 5,384 | 5,576 | 6,773 | 9,181 | 10,239 | 13,006 | ||
Invested capital current period | 4,998 | 4,994 | 5,384 | 5,498 | 5,767 | 5,857 | 5,576 | 5,470 | 6,261 | 6,591 | 6,773 | 6,585 | 6,958 | 8,292 | 9,181 | 9,544 | 9,846 | 10,383 | 10,239 | 10,296 | 12,613 | 12,961 | 13,006 | 12,881 | 12,803 | 12,567 | 5,498 | 5,470 | 6,585 | 9,544 | 10,296 | 12,881 | ||
Average | 5,190 | 5,066 | 5,074 | 5,218 | 5,411 | 5,627 | 5,675 | 5,668 | 5,791 | 5,974 | 6,274 | 6,552 | 6,727 | 7,152 | 7,754 | 8,494 | 9,216 | 9,739 | 10,003 | 10,191 | 10,883 | 11,527 | 12,219 | 12,865 | 12,913 | 12,814 | 5,218 | 5,668 | 6,552 | 8,494 | 10,191 | 12,865 |
Consolidated balance sheet • Assets | ||||||||||||||||||||||||||
PR. 31. MAR. 2014 | PR. 30. JUN. 2014 | PR. 30. SEP. 2014 | PR. 31. DEC. 2014 | PR. 31. MAR. 2015 | PR. 30. JUN. 2015 | PR. 30. SEP. 2015 | PR. 31. DEC. 2015 | PR. 31. MAR. 2016 | PR. 30. JUN. 2016 | PR. 30. SEP. 2016 | PR. 31. DEC. 2016 | PR. 31. MAR. 2017 | PR. 30. JUN. 2017 | PR. 30. SEP. 2017 | PR. 31. DEC. 2017 | PR. 31. MAR. 2018 | PR. 30. JUN. 2018 | PR. 30. SEP. 2018 | PR. 31. DEC. 2018 | PR. 31. MAR. 2019 | PR. 30. JUN. 2019 | PR. 30. SEP. 2019 | PR. 31. DEC. 2019 | PR. 31. MAR. 2020 | PR. 30. JUN. 2020 | |
Goodwill | 876 | 878 | 897 | 971 | 1,012 | 999 | 998 | 1,006 | 1,147 | 1,151 | 1,148 | 1,169 | 1,181 | 1,658 | 2,207 | 2,208 | 2,180 | 2,227 | 2,239 | 2,404 | 2,421 | 2,429 | 2,474 | 2,451 | ||
Completed development projects | 17 | 17 | 16 | 12 | 12 | 12 | 11 | 0 | 0 | 29 | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Development projects in progress | 0 | 0 | 0 | 18 | 13 | 19 | 23 | 0 | 0 | 2 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Customer relations | 123 | 119 | 281 | 396 | 379 | 371 | 371 | 362 | 549 | 538 | 524 | 521 | 519 | |||||||||||||
Brands | 55 | 53 | 170 | 192 | 183 | 177 | 175 | 172 | 169 | 166 | 162 | 159 | 157 | |||||||||||||
Know-how | 36 | 35 | 114 | 337 | 326 | 314 | 318 | 314 | 370 | 367 | 356 | 360 | 347 | |||||||||||||
Other intangible assets | 44 | 42 | 41 | 94 | 98 | 92 | 88 | 170 | 326 | 304 | 292 | 99 | 93 | 104 | 95 | 99 | 92 | 86 | 82 | 101 | 101 | 93 | 92 | 94 | ||
Intangible assets | 937 | 936 | 953 | 1,095 | 1,135 | 1,121 | 1,120 | 1,176 | 1,473 | 1,486 | 1,467 | 1,482 | 1,481 | 2,328 | 3,226 | 3,195 | 3,135 | 3,176 | 3,169 | 3,594 | 3,592 | 3,565 | 3,605 | 3,568 | 3,561 | 3,510 |
Land and buildings | 1,163 | 1,157 | 1,176 | 1,263 | 1,292 | 1,253 | 1,227 | 1,260 | 1,313 | 1,446 | 1,401 | 1,421 | 1,402 | 1,433 | 1,649 | 1,776 | 1,778 | 1,788 | 1,774 | 1,797 | 1.873 | 1.981 | 2,004 | 1,969 | ||
Plant and machinery | 1,266 | 1,230 | 1,214 | 1,252 | 1,316 | 1,192 | 1,112 | 1,152 | 1,129 | 1,148 | 1,125 | 1,328 | 1,389 | 1,338 | 1,519 | 1,836 | 1,796 | 1,786 | 1,802 | 1,894 | 1.940 | 1.992 | 2,013 | 2,076 | ||
Other fixtures, tools and equipment | 77 | 73 | 69 | 70 | 70 | 95 | 88 | 65 | 98 | 102 | 126 | 94 | 118 | 132 | 136 | 120 | 134 | 128 | 129 | 125 | 136 | 138 | 144 | 139 | ||
Assets under construction, etc. | 103 | 126 | 153 | 131 | 184 | 270 | 235 | 298 | 400 | 499 | 642 | 608 | 694 | 801 | 569 | 226 | 316 | 459 | 464 | 501 | 619 | 621 | 718 | 772 | ||
Property, plant and equipment | 2,608 | 2,586 | 2,612 | 2,715 | 2,861 | 2,810 | 2,662 | 2,776 | 2,940 | 3,195 | 3,293 | 3,450 | 3,603 | 3,703 | 3,873 | 3,959 | 4,024 | 4,161 | 4.167,4 | 4,317 | 4.568 | 4.732 | 4,879 | 4,956 | 4,776 | 4,758 |
Equity investments in associates | 572 | 588 | 609 | 562 | 564 | 593 | 610 | 570 | 587 | 617 | 62 | 63 | 87 | 86 | 330 | 342 | 339 | 367 | 389 | 377 | 397 | 390 | 413 | 427 | 441 | 423 |
Equity investments in joint ventures | 19 | 16 | 57 | 64 | 67 | 68 | 73 | 109 | 107 | 119 | 115 | 171 | 168 | 165 | 162 | 169 | 164 | 164 | 152 | 137 | 140 | 138 | 145 | 136 | 138 | 138 |
Lease assets (ROU) | 849 | 850 | 839 | 827 | 761 | 740 | ||||||||||||||||||||
Securities | 100 | 110 | 119 | 115 | 130 | 125 | 82 | 84 | 111 | 116 | 115 | 121 | 120 | 182 | 5 | 5 | 5 | 3 | 3 | 75 | 75 | 76 | 77 | 79 | 78 | 79 |
Deferred tax | 76 | 71 | 73 | 52 | 49 | 48 | 48 | 18 | 16 | 31 | 38 | 36 | 40 | 92 | 89 | 58 | 73 | 76 | 77 | 66 | 106 | 116 | 121 | 122 | 122 | 127 |
Receivables | 149 | 150 | 147 | 144 | 149 | 137 | 192 | 178 | 164 | 171 | 156 | 139 | 130 | 168 | 100 | 137 | 124 | 111 | 102 | 108 | 105 | 140 | 110 | 107 | 92 | 84 |
Other non-current assets | 916 | 935 | 1,004 | 937 | 959 | 972 | 1,005 | 959 | 985 | 1,054 | 486 | 530 | 545 | 694 | 687 | 710 | 705 | 721 | 722 | 763 | 1.672 | 1.710 | 1,705 | 1,698 | 1,632 | 1,591 |
Total non-current assets | 4,461 | 4,457 | 4,570 | 4,747 | 4,955 | 4,903 | 4,787 | 4,911 | 5,398 | 5,735 | 5,246 | 5,461 | 5,629 | 6,724 | 7,786 | 7,864 | 7,864 | 8,058 | 8,058 | 8,674 | 9.832 | 10.007 | 10,189 | 10,222 | 9,969 | 9,859 |
Inventories | 1,153 | 1,374 | 1,510 | 1,448 | 1,511 | 1,657 | 1,374 | 1,435 | 1,728 | 1,974 | 2,039 | 1,971 | 2,265 | 2,714 | 2,709 | 2,811 | 2,980 | 3,187 | 3,191 | 3,683 | 3.871 | 4.019 | 3,929 | 3,868 | 3,617 | 3,807 |
Receivables | 2,233 | 2,438 | 2,917 | 2,592 | 2,567 | 2,857 | 3,034 | 2,753 | 2,708 | 2,848 | 3,308 | 3,104 | 2,942 | 3,262 | 3,449 | 3,180 | 3,186 | 3,753 | 3,998 | 3,903 | 4.058 | 4.119 | 4,715 | 4,112 | 4,102 | 4,112 |
Income tax receivable | 11 | 1 | 0 | 8 | 3 | 2 | 0 | 6 | 24 | 28 | 8 | 55 | 63 | 111 | 86 | 56 | 50 | 59 | 55 | 94 | 75 | 60 | 42 | 37 | 41 | 25 |
Securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,035 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash and cash equivalents | 1,514 | 1,543 | 1,233 | 1,087 | 1,337 | 1,072 | 1,209 | 1,411 | 893 | 442 | 549 | 1,682 | 1,513 | 520 | 562 | 478 | 509 | 371 | 464 | 585 | 574 | 588 | 613 | 538 | 578 | 615 |
Total current assets | 4,910 | 5,356 | 5,660 | 5,135 | 5,417 | 5,588 | 5,617 | 5,605 | 5,353 | 5,290 | 6,939 | 6,812 | 6,783 | 6,607 | 6,806 | 6,525 | 6,725 | 7,370 | 7,707 | 8,266 | 8.577 | 8.787 | 9,298 | 8,554 | 8,339 | 8,560 |
Assets held for sale | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total assets | 9,371 | 9,813 | 10,230 | 9,882 | 10,372 | 10,491 | 10,404 | 10,516 | 10,750 | 11,026 | 12,185 | 12,273 | 12,412 | 13,331 | 14,591 | 14,389 | 14,589 | 15,429 | 15,765 | 16,940 | 18.409 | 18,794 | 19,487 | 18,777 | 18,308 | 18,419 |
Consolidated balance sheet • Liabilities and equity | ||||||||||||||||||||||||||
PR. 31. MAR. 2014 | PR. 30. JUN. 2014 | PR. 30. SEP. 2014 | PR. 31. DEC. 2014 | PR. 31. MAR. 2015 | PR. 30. JUN. 2015 | PR. 30. SEP. 2015 | PR. 31. DEC. 2015 | PR. 31. MAR. 2016 | PR. 30. JUN. 2016 | PR. 30. SEP. 2016 | PR. 31. DEC. 2016 | PR. 31. MAR. 2017 | PR. 30. JUN. 2017 | PR. 30. SEP. 2017 | PR. 31. DEC. 2017 | PR. 31. MAR. 2018 | PR. 30. JUN. 2018 | PR. 30. SEP. 2018 | PR. 31. DEC. 2018 | PR. 31. MAR. 2019 | PR. 30. JUN. 2019 | PR. 30. SEP. 2019 | PR. 31. DEC. 2019 | PR. 31. MAR. 2020 | PR. 30. JUN. 2020 | |
Share capital | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 | 255 |
Hedge transaction reserve | -21 | -19 | -21 | -20 | -17 | -21 | -7 | -12 | -25 | -7 | -21 | -11 | -8 | -15 | -4 | -11 | -5 | -8 | -9 | -8 | -6 | -12 | -3 | -3 | -9 | 3 |
Exchange adjustment reserve | -19 | 5 | 159 | 154 | 448 | 345 | 214 | 263 | 224 | 238 | 198 | 240 | 255 | 111 | 34 | -7 | -58 | 40 | 41 | 79 | 213 | 146 | 307 | 251 | 80 | 47 |
Retained earnings | 5,385 | 5,496 | 5,652 | 5,478 | 5,608 | 5,759 | 5,925 | 5,895 | 6,056 | 6,250 | 7,052 | 7,006 | 7,152 | 7,396 | 7,759 | 7,748 | 7,868 | 8,084 | 8,209 | 7,994 | 8,167 | 8,392 | 8,688 | 8,658 | 8,817 | 9,045 |
Proposed dividend | 153 | 0 | 0 | 204 | 204 | 0 | 0 | 255 | 255 | 0 | 0 | 306 | 306 | 0 | 0 | 332 | 332 | 0 | 0 | 332 | 332 | 0 | 0 | 357 | 357 | 0 |
Share of equity attributable to the parent company | 5,753 | 5,737 | 6,045 | 6,071 | 6,498 | 6,338 | 6,387 | 6,656 | 6,764 | 6,736 | 7,484 | 7,797 | 7,959 | 7,747 | 8,044 | 8,317 | 8,392 | 8,371 | 8,495 | 8,652 | 8,961 | 8,781 | 9,247 | 9,519 | 9,500 | 9,350 |
Minority interests | 3 | 3 | 3 | 3 | 15 | 29 | 23 | 21 | 20 | 20 | 20 | 18 | 17 | 14 | 11 | 15 | 14 | 12 | 8 | 7 | 7 | 6 | 5 | 2 | -0 | 0 |
Total equity | 5,757 | 5,740 | 6,048 | 6,074 | 6,513 | 6,366 | 6,410 | 6,677 | 6,784 | 6,756 | 7,504 | 7,814 | 7,976 | 7,761 | 8,056 | 8,332 | 8,406 | 8,382 | 8,503 | 8,659 | 8,967 | 8,787 | 9,252 | 9,521 | 9,500 | 9,350 |
Deferred tax | 122 | 115 | 129 | 151 | 159 | 143 | 150 | 148 | 202 | 203 | 202 | 189 | 186 | 258 | 341 | 309 | 320 | 317 | 309 | 397 | 420 | 428 | 438 | 409 | 410 | 406 |
Liability regarding put option | 237 | 241 | 261 | 307 | 321 | 336 | 341 | 366 | 0 | 0 | 0 | |||||||||||||||
Other payables | 97 | 96 | 98 | 113 | 117 | 112 | 104 | 106 | 111 | 109 | 104 | 100 | 92 | 105 | 387 | 153 | 183 | 187 | 130 | 275 | 271 | 269 | 272 | 306 | 299 | 316 |
Interest bearing debt | 968 | 902 | 885 | 858 | 809 | 762 | 728 | 687 | 701 | 394 | 387 | 402 | 516 | 545 | 551 | 1,366 | 1,553 | 2,003 | 1,771 | 1,749 | 2,379 | 3.565 | 3,282 | 2,976 | 2,867 | 1,761 |
Non-current liabilities | 1,186 | 1,113 | 1,111 | 1,123 | 1,085 | 1,017 | 982 | 941 | 1,014 | 705 | 693 | 691 | 794 | 908 | 1,278 | 2,065 | 2,296 | 2,768 | 2,517 | 2,742 | 3,406 | 4.603 | 4,357 | 3,691 | 3,577 | 2,483 |
Interest bearing debt | 579 | 708 | 535 | 316 | 431 | 466 | 347 | 300 | 506 | 713 | 644 | 321 | 312 | 967 | 1,146 | 440 | 485 | 454 | 443 | 1,309 | 1,762 | 1,124 | 924 | 909 | 921 | 1,943 |
Trade payables and other payables | 1,836 | 2,236 | 2,500 | 2,239 | 2,194 | 2,481 | 2,519 | 2,567 | 2,400 | 2,811 | 3,246 | 3,339 | 3,252 | 3,623 | 3,973 | 3,464 | 3,310 | 3,721 | 4,167 | 4,089 | 4,150 | 4.156 | 4,806 | 4,173 | 3,820 | 4,148 |
Liability regarding put option | 369 | 387 | 388 | |||||||||||||||||||||||
Income tax | 14 | 17 | 36 | 131 | 150 | 161 | 147 | 31 | 47 | 40 | 98 | 107 | 78 | 73 | 138 | 89 | 92 | 104 | 135 | 140 | 125 | 124 | 148 | 114 | 104 | 108 |
Current liabilities | 2,428 | 2,961 | 3,071 | 2,686 | 2,775 | 3,108 | 3,012 | 2,899 | 2,952 | 3,564 | 3,989 | 3,767 | 3,642 | 4,662 | 5,257 | 3,993 | 3,887 | 4,279 | 4,745 | 5,538 | 6,036 | 5.404 | 5,878 | 5,565 | 5,231 | 6,586 |
Total liabilities | 3,615 | 4,074 | 4,181 | 3,808 | 3,859 | 4,125 | 3,994 | 3,839 | 3,966 | 4,270 | 4,681 | 4,459 | 4,436 | 5,571 | 6,536 | 6,057 | 6,183 | 7,047 | 7,262 | 8,281 | 9,442 | 10.007 | 10,235 | 9,256 | 8,808 | 9,069 |
Liabilities associated with assets held for sale | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total liabilities and equity | 9,371 | 9,813 | 10,230 | 9,882 | 10,372 | 10,491 | 10,404 | 10,516 | 10,750 | 11,026 | 12,185 | 12,273 | 12,412 | 13,331 | 14,591 | 14,389 | 14,589 | 15,429 | 15,765 | 16,940 | 18,409 | 18.794 | 19,487 | 18,777 | 18,308 | 18,419 |
Consolidated cash flow statement | ||||||||||||||||||||||||||||||||
Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
Profit before tax | 74 | 141 | 286 | 201 | 189 | 160 | 240 | 282 | 157 | 247 | 860 | 315 | 163 | 256 | 347 | 339 | 172 | 259 | 301 | 355 | 213 | 218 | 411 | 306 | 212 | 272 | 701 | 871 | 1,578 | 1,105 | 1,086 | 1,149 |
Adjustment for operating items of a non-cash nature, etc. | ||||||||||||||||||||||||||||||||
Depreciation and impairment losses | 88 | 88 | 90 | 97 | 95 | 96 | 93 | 99 | 99 | 103 | 120 | 111 | 106 | 119 | 121 | 129 | 131 | 133 | 136 | 132 | 200 | 196 | 200 | 206 | 205 | 208 | 363 | 383 | 434 | 475 | 532 | 802 |
Other non-cash operating items, net | (5) | 20 | 68 | (48) | 43 | (17) | 16 | 31 | (38) | 1 | 0 | 51 | (17) | 19 | 33 | 30 | (23) | (8) | (19) | 56 | (22) | (34) | 24 | 31 | (3) | (7) | 34 | 73 | 14 | 66 | 6 | (1) |
Provisions | (0) | (0) | (0) | 1 | (0) | 1 | 0 | (0) | 0 | (0) | (0) | (1) | 1 | 12 | (12) | (1) | 1 | 2 | 1 | (3) | 6 | 1 | 1 | 25 | 2 | 1 | 1 | 1 | (1) | 1 | 0 | 33 |
Profit/loss after tax in associates and joint ventures | 17 | (11) | (23) | (12) | (19) | (28) | (29) | (10) | (14) | (33) | (516) | (3) | (0) | (4) | (10) | (27) | (2) | (16) | (19) | (33) | (15) | (7) | (11) | (17) | (14) | 6 | (29) | (86) | (566) | (42) | (70) | (50) |
Financial income | (9) | (7) | (14) | (22) | (33) | (5) | (9) | (4) | (10) | (11) | (10) | (3) | (4) | (58) | (10) | (7) | (17) | (17) | (18) | (35) | (29) | (7) | (22) | (26) | (27) | (8) | (52) | (50) | (33) | (78) | (79) | (84) |
Financial expenses | 17 | 17 | 21 | 32 | 14 | 23 | 68 | (8) | 24 | 13 | 16 | 6 | 19 | 45 | 35 | 9 | 30 | 40 | 45 | 11 | 32 | 49 | 42 | 41 | 58 | 41 | 87 | 97 | 60 | 108 | 119 | 164 |
Cash generated from operations (operating activities) before change in working capital | 181 | 249 | 427 | 249 | 289 | 231 | 379 | 389 | 218 | 319 | 471 | 477 | 269 | 388 | 505 | 473 | 291 | 394 | 427 | 482 | 385 | 415 | 646 | 566 | 433 | 512 | 1,105 | 1,288 | 1,485 | 1,635 | 1,594 | 2,012 |
Changes in working capital | (93) | (24) | (352) | 172 | (76) | (151) | 120 | 306 | (60) | 109 | (88) | 411 | (194) | (232) | 213 | (333) | (252) | (350) | 201 | (33) | (216) | (209) | 169 | 28 | (164) | 176 | (297) | 198 | 372 | (546) | (434) | (228) |
Cash generated from operations (operating activities) | 87 | 225 | 75 | 421 | 213 | 81 | 499 | 694 | 158 | 428 | 382 | 888 | 75 | 157 | 717 | 140 | 39 | 44 | 628 | 449 | 169 | 207 | 814 | 594 | 269 | 688 | 808 | 1,486 | 1,857 | 1,089 | 1,160 | 1,784 |
Financial income received | 7 | 5 | 12 | 7 | 14 | 0 | 1 | 14 | 7 | 4 | 3 | 11 | 3 | 10 | 13 | (8) | 6 | 4 | 6 | 13 | 7 | 2 | 4 | 3 | 3 | 3 | 31 | 29 | 25 | 18 | 30 | 16 |
Financial expenses paid | (17) | (15) | (19) | (33) | (14) | (14) | (20) | (5) | (12) | (9) | (14) | (19) | (13) | (29) | (27) | 17 | (13) | (22) | (27) | (36) | (23) | (36) | (39) | (18) | (27) | (39) | (84) | (54) | (55) | (53) | (98) | (116) |
Cash flows from ordinary activities | 78 | 215 | 68 | 395 | 212 | 67 | 479 | 704 | 153 | 423 | 371 | 880 | 65 | 138 | 703 | 149 | 33 | 26 | 607 | 426 | 153 | 173 | 779 | 579 | 245 | 652 | 756 | 1,462 | 1,827 | 1,054 | 1,092 | 1,684 |
Income tax paid | (27) | (23) | (25) | (54) | (41) | (15) | (83) | (153) | (44) | (51) | (9) | (126) | (51) | (132) | (14) | (94) | (31) | (61) | (44) | (118) | (53) | (46) | (55) | (120) | (63) | (45) | (128) | (291) | (229) | (291) | (254) | (274) |
Cash flows from operating activities | 51 | 192 | 43 | 342 | 172 | 52 | 396 | 551 | 110 | 373 | 363 | 754 | 14 | 6 | 690 | 55 | 2 | (35) | 563 | 308 | 100 | 128 | 724 | 458 | 181 | 607 | 628 | 1,171 | 1,598 | 763 | 837 | 1,410 |
Purchase of intangible assets | (1) | (1) | (1) | (9) | (0) | (1) | (1) | (60) | (2) | (0) | (2) | (15) | (2) | (4) | (1) | (17) | (3) | (3) | (4) | (24) | (9) | (4) | (8) | (9) | (5) | (6) | (13) | (62) | (19) | (25) | (34) | (30) |
Disposal of intangible assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | (0) | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 |
Purchase of property, plant and equipment | (46) | (50) | (43) | (94) | (58) | (107) | (75) | (114) | (145) | (148) | (243) | (293) | (246) | (209) | (137) | (216) | (135) | (221) | (128) | (201) | (184) | (183) | (203) | (204) | (133) | (79) | (233) | (354) | (828) | (809) | (685) | (774) |
Sale of property, plant and equipment | 0 | 0 | 0 | 8 | 0 | 0 | 0 | 16 | 0 | 0 | 1 | 5 | 1 | 3 | 0 | 16 | 0 | 2 | 2 | (0) | 0 | 9 | 1 | 2 | 2 | 1 | 9 | 16 | 6 | 20 | 4 | 12 |
Acquisitions | 0 | 0 | 0 | (129) | (20) | 0 | 0 | (105) | (565) | 14 | 0 | 0 | (30) | (897) | (735) | (202) | (80) | 0 | 0 | (628) | (134) | (107) | 0 | (18) | 0 | 0 | (129) | (125) | (551) | (1,864) | (708) | (259) |
Acquisition/divestment of non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2) | 0 | 0 | 0 | 55 | 0 | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0 | (2) | 55 | (1) |
Acquisition of joint ventures and associates / capital contribution | 0 | 0 | (38) | (0) | 0 | 0 | 0 | (37) | 0 | (13) | 0 | (61) | (24) | 0 | (64) | (0) | (0) | 0 | 0 | (1) | 0 | 0 | (1) | (2) | 0 | 0 | (39) | (37) | (74) | (87) | (1) | (3) |
Divestment of associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,034 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,034 | 0 | 0 | 0 |
Received dividend from associates | 31 | 0 | 0 | 45 | 0 | 0 | 0 | 49 | 1 | 0 | 64 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 11 | 0 | 0 | 0 | 0 | 76 | 49 | 64 | 3 | 0 | 11 |
Addition/disposals of other financial assets | (0) | (14) | 0 | (12) | (1) | 1 | (53) | (4) | (28) | (2) | 11 | (9) | 0 | (77) | 79 | (4) | 1 | 1 | 1 | 5 | 2 | (41) | 43 | (3) | 3 | 5 | (26) | (57) | (27) | (2) | 9 | 1 |
Cash flows from investing activities | (16) | (65) | (82) | (192) | (78) | (106) | (129) | (256) | (739) | (149) | (170) | 662 | (301) | (1,185) | (857) | (421) | (217) | (221) | (128) | (794) | (325) | (316) | (170) | (232) | (134) | (79) | (355) | (569) | (396) | (2,763) | (1,360) | (1,043) |
Debt financing: | ||||||||||||||||||||||||||||||||
Repayment of non-current liabilities | (59) | (127) | (28) | (117) | (88) | (102) | (21) | (65) | (28) | (144) | (264) | (54) | (27) | (29) | (28) | (59) | (18) | (30) | (21) | (50) | (54) | (54) | (76) | (179) | (106) | (135) | (331) | (276) | (489) | (142) | (119) | (363) |
Proceeds from incurring non current financial liabilities | 0 | 64 | 1 | (1) | 13 | 35 | 3 | 18 | 16 | 7 | 9 | 71 | 136 | 40 | 22 | 33 | 1 | 0 | 2 | (2) | 0 | 1,016 | 0 | 4 | 2 | 72 | 64 | 70 | 104 | 231 | 0 | 1,020 |
Increase (repayment) of bank overdrafts | 269 | 121 | (179) | (367) | 129 | 62 | (105) | (40) | 89 | (293) | 170 | (299) | (12) | 455 | 187 | 317 | 251 | 440 | (251) | 779 | 246 | (469) | (465) | (193) | 95 | (89) | (156) | 46 | (332) | 946 | 1,219 | (881) |
Repayment of loans by associates | 0 | 0 | 0 | 141 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 141 | 0 | 0 | 0 | 0 | 0 |
Shareholders: | ||||||||||||||||||||||||||||||||
Costs of capital increase/decrease | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital contribution by non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 1 | 0 | 0 | 0 |
Dividend paid | 0 | (143) | 0 | 0 | 0 | (189) | 0 | 0 | 0 | (238) | 0 | 0 | 0 | (286) | 0 | 0 | 0 | (312) | 0 | (2) | 0 | (309) | 0 | 0 | 0 | (336) | (143) | (189) | (238) | (286) | (314) | (309) |
Purchase / sale of treasury shares, net | (55) | (13) | (64) | (5) | 9 | 0 | 0 | 0 | 41 | (13) | 0 | 1 | 20 | 17 | 32 | 0 | 17 | 11 | (68) | (123) | 17 | 26 | 0 | 69 | 9 | 0 | (138) | 9 | 29 | 69 | (163) | 112 |
Cash flows from financing activities | 155 | (99) | (270) | (349) | 64 | (179) | (122) | (86) | 118 | (680) | (85) | (279) | 116 | 198 | 213 | 291 | 250 | 109 | (339) | 602 | 208 | 210 | (541) | (298) | (1) | (488) | (563) | (324) | (925) | 818 | 623 | (421) |
Cash flows from discontinuing operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash flows for the period | 190 | 29 | (309) | (199) | 157 | (233) | 145 | 210 | (511) | (456) | 108 | 1,136 | (171) | (981) | 45 | (76) | 35 | (147) | 96 | 116 | (16) | 21 | 14 | (73) | 47 | 40 | (290) | 278 | 277 | (1,182) | 100 | (54) |
Cash and cash equivalents at the beginning of the period | 1,324 | 1,514 | 1,543 | 1,233 | 1,087 | 1,337 | 1,072 | 1,209 | 1,411 | 893 | 442 | 549 | 1,682 | 1,513 | 520 | 562 | 478 | 509 | 371 | 464 | 585 | 574 | 588 | 613 | 538 | 578 | 1,324 | 1,087 | 1,411 | 1,682 | 478 | 585 |
Reclassification of cash and cash equivalents at 1 january | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Value adjustment of cash and cash equivalents | 0 | 0 | (1) | 54 | 93 | (32) | (8) | (8) | (7) | 5 | (1) | (3) | 2 | (13) | (3) | (9) | (4) | 10 | (3) | 4 | 5 | (7) | 11 | (2) | (7) | (3) | 53 | 45 | (6) | (23) | 6 | 8 |
Cash and cash equivalents at the end of the period | 1,514 | 1,543 | 1,233 | 1,087 | 1,337 | 1,072 | 1,209 | 1,411 | 893 | 442 | 549 | 1,682 | 1,513 | 520 | 562 | 478 | 509 | 371 | 464 | 585 | 574 | 588 | 613 | 538 | 578 | 615 | 1,087 | 1,411 | 1,682 | 478 | 585 | 538 |
BioMar | Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | ||||||||||||||||||||||||||||||||
Revenue | 1,593 | 1,837 | 2,788 | 2,234 | 1,909 | 2,230 | 2,698 | 2,137 | 1,532 | 1,900 | 2,945 | 2,491 | 1,997 | 2,273 | 3,048 | 2,637 | 1,884 | 2,518 | 3,104 | 2,822 | 2,137 | 2,514 | 3,404 | 3,126 | 2,381 | 2,695 | 8.451,3 | 8,974 | 8,868 | 9,955 | 10,328 | 11,180 |
Gross profit | 176 | 224 | 351 | 269 | 200 | 238 | 347 | 296 | 162 | 249 | 401 | 320 | 208 | 272 | 402 | 342 | 200 | 308 | 402 | 365 | 236 | 320 | 495 | 427 | 280 | 340 | 1.019,4 | 1,081 | 1,133 | 1,223 | 1,275 | 1,477 |
EBITDA | 69 | 114 | 223 | 169 | 86 | 115 | 215 | 177 | 56 | 145 | 268 | 253 | 87 | 156 | 252 | 217 | 80 | 174 | 246 | 213 | 132 | 191 | 345 | 299 | 159 | 222 | 574,2 | 593 | 722 | 712 | 713 | 966 |
Depreciation/impairment | 35 | 35 | 36 | 34 | 37 | 37 | 36 | 36 | 34 | 34 | 35 | 38 | 35 | 34 | 39 | 45 | 45 | 45 | 48 | 46 | 79 | 75 | 81 | 76 | 81 | 85 | 139,8 | 146 | 141 | 153 | 184 | 311 |
Operating profit (EBIT) | 34 | 79 | 187 | 135 | 49 | 78 | 179 | 140 | 22 | 111 | 233 | 215 | 52 | 122 | 213 | 172 | 35 | 128 | 198 | 167 | 52 | 116 | 264 | 223 | 77 | 137 | 434,4 | 447 | 581 | 559 | 529 | 655 |
Profit from associates and JV´s | 0 | 0 | 0 | 3 | 0 | (1) | 1 | 6 | 1 | 7 | 3 | 2 | 1 | 4 | 11 | 22 | 5 | 17 | 21 | 33 | 15 | 7 | 11 | 16 | 14 | (6) | 2,5 | 6 | 13 | 38 | 75 | 50 |
Gains on equity divestments | 29 | 0 | 0 | 0 | 0 | 29 | ||||||||||||||||||||||||||
Financial items, net | (5) | (6) | (7) | (21) | 2 | (8) | (57) | 10 | (0) | (4) | (5) | (7) | (6) | 31 | (6) | (5) | (6) | (10) | (11) | (7) | (8) | (21) | (15) | (17) | (11) | (19) | -38,6 | (54) | (16) | 14 | (35) | (62) |
Profit before tax | 29 | 73 | 180 | 117 | 52 | 69 | 123 | 156 | 23 | 114 | 230 | 210 | 46 | 157 | 218 | 190 | 33 | 135 | 208 | 193 | 59 | 131 | 260 | 222 | 81 | 113 | 398,3 | 399 | 577 | 611 | 569 | 672 |
Tax on profit | (5) | (18) | (45) | (146) | (36) | (17) | (49) | (31) | (11) | (34) | (61) | (43) | (12) | (29) | (49) | (57) | (21) | (33) | (52) | (58) | (14) | (26) | (62) | (33) | (19) | (34) | -214,2 | (132) | (148) | (146) | (163) | (134) |
Profit before non-controlling interests | 24 | 54 | 135 | (30) | 16 | 52 | 74 | 125 | 13 | 80 | 170 | 166 | 35 | 128 | 170 | 133 | 12 | 102 | 156 | 136 | 45 | 105 | 198 | 189 | 62 | 79 | 184,1 | 267 | 429 | 465 | 407 | 537 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0,0 | - 0 | - 0 | - 0 | - 0 | - 0 |
Profit | 24 | 54 | 135 | (30) | 16 | 52 | 74 | 125 | 13 | 80 | 170 | 166 | 35 | 128 | 170 | 133 | 12 | 102 | 156 | 136 | 45 | 105 | 198 | 189 | 62 | 79 | 184,1 | 267 | 429 | 465 | 407 | 537 |
CASH FLOW | ||||||||||||||||||||||||||||||||
Cash flows from operating activities | (63) | 148 | (80) | 262 | (6) | (96) | 294 | 444 | (25) | 202 | 162 | 545 | (51) | (128) | 516 | (42) | (60) | (159) | 409 | 176 | (40) | (109) | 343 | 135 | (97) | 260 | 266,3 | 637 | 884 | 296 | 366 | 328 |
Cash flows from investing activities | (31) | (47) | (63) | (26) | (13) | (30) | (87) | (79) | (79) | (71) | (80) | (146) | (81) | (138) | (766) | (42) | (41) | (57) | (45) | (75) | (83) | (252) | (84) | (125) | (56) | (37) | -166,5 | (210) | (376) | (1,027) | (217) | (543) |
Cash flows from financing activities | 2 | 11 | (186) | 113 | 59 | (90) | (353) | (239) | (18) | (216) | (39) | (361) | 73 | 151 | 298 | 135 | 136 | 118 | (275) | (88) | 155 | 364 | (255) | (66) | 121 | (79) | -60,0 | (622) | (634) | 657 | (108) | 198 |
BALANCE SHEET | ||||||||||||||||||||||||||||||||
Intangible assets | 318 | 318 | 337 | 355 | 389 | 375 | 371 | 410 | 394 | 399 | 395 | 406 | 398 | 375 | 1,290 | 1,273 | 1,233 | 1,287 | 1,288 | 1,294 | 1,306 | 1,302 | 1,350 | 1,311 | 1,328 | 1,292 | 354,9 | 410 | 406 | 1,273 | 1,294 | 1,311 |
Property, plant and equipment | 964 | 962 | 984 | 919 | 951 | 932 | 902 | 885 | 898 | 929 | 990 | 1,049 | 1,071 | 1,070 | 1,247 | 1,207 | 1,216 | 1,267 | 1,282 | 1,300 | 1,377 | 1,583 | 1,684 | 1,750 | 1,672 | 1,699 | 919,0 | 885 | 1,049 | 1,207 | 1,300 | 1,750 |
Other non-current assets | 128 | 133 | 183 | 197 | 214 | 207 | 239 | 269 | 287 | 320 | 317 | 374 | 398 | 503 | 489 | 497 | 511 | 539 | 550 | 568 | 1,162 | 1,190 | 1,201 | 1,194 | 1,142 | 1,115 | 196,7 | 269 | 374 | 497 | 568 | 1,194 |
Cash and cash equivalents | 420 | 531 | 203 | 606 | 736 | 492 | 344 | 457 | 325 | 248 | 557 | 330 | 603 | 463 | 498 | 241 | 460 | 343 | 475 | 284 | 398 | 476 | 450 | 270 | 496 | 543 | 605,5 | 457 | 330 | 241 | 284 | 270 |
Other current assets | 2,277 | 2,627 | 3,178 | 2,765 | 2,758 | 3,228 | 3,113 | 2,812 | 2,535 | 2,609 | 3,170 | 3,409 | 2,804 | 3,026 | 3,135 | 3,081 | 2,792 | 3,468 | 3,669 | 3,695 | 3,541 | 3,822 | 4,418 | 4,246 | 3,783 | 3,912 | 2.765,1 | 2,812 | 3,409 | 3,081 | 3,695 | 4,246 |
AKTIVER I ALT | 4,106 | 4,571 | 4,885 | 4,841 | 5,048 | 5,234 | 4,968 | 4,833 | 4,439 | 4,505 | 5,430 | 5,567 | 5,274 | 5,436 | 6,659 | 6,299 | 6,212 | 6,904 | 7,263 | 7,141 | 7,785 | 8,373 | 9,103 | 8,771 | 8,421 | 8,559 | 4.841,2 | 4,833 | 5,567 | 6,299 | 7,141 | 8,771 |
Equity | 1,596 | 1,665 | 1,922 | 1,902 | 1,950 | 1,929 | 1,991 | 2,128 | 1,864 | 1,975 | 2,122 | 2,348 | 2,186 | 2,215 | 2,401 | 2,490 | 2,451 | 2,341 | 2,456 | 2,581 | 2,388 | 2,431 | 2,721 | 2,852 | 2,561 | 2,597 | 1.902,2 | 2,128 | 2,348 | 2,490 | 2,581 | 2,852 |
Interest-bearing debt | 1,081 | 1,092 | 907 | 1,019 | 1,279 | 1,189 | 837 | 598 | 780 | 564 | 789 | 669 | 769 | 895 | 1,177 | 1,201 | 1,344 | 1,735 | 1,511 | 1,415 | 2,334 | 2,814 | 2,559 | 2,565 | 2,995 | 2,869 | 1.019,4 | 598 | 669 | 1,201 | 1,415 | 2,565 |
Other creditors | 1,430 | 1,814 | 2,056 | 1,920 | 1,819 | 2,116 | 2,141 | 2,107 | 1,795 | 1,966 | 2,519 | 2,551 | 2,320 | 2,327 | 3,081 | 2,608 | 2,417 | 2,828 | 3,297 | 3,146 | 3,062 | 3,128 | 3,823 | 3,355 | 2,865 | 3,093 | 1.919,6 | 2,107 | 2,551 | 2,608 | 3,146 | 3,355 |
Total liabilities and equity | 4,106 | 4,571 | 4,885 | 4,841 | 5,048 | 5,234 | 4,968 | 4,833 | 4,439 | 4,505 | 5,430 | 5,567 | 5,274 | 5,436 | 6,659 | 6,299 | 6,212 | 6,904 | 7,263 | 7,141 | 7,785 | 8,373 | 9,103 | 8,771 | 8,421 | 8,559 | 4.841,2 | 4,833 | 5,567 | 6,299 | 7,141 | 8,771 |
Average number of employees | 894 | 901 | 915 | 913 | 912 | 901 | 896 | 884 | 896 | 877 | 877 | 899 | 901 | 929 | 993 | 1,135 | 1,171 | 1,173 | 1,178 | 1,188 | 1,212 | 1,215 | 1,254 | 1,280 | 1,338 | 1,379 | 904 | 897 | 887 | 996 | 1,177 | 1,239 |
FINANCIAL KEY FIGURES | ||||||||||||||||||||||||||||||||
EBITDA margin | 4.3% | 6.2% | 8.0% | 7.6% | 4.5% | 5.1% | 8.0% | 8.3% | 3.7% | 7.7% | 9.1% | 10.2% | 4.3% | 6.9% | 8.3% | 8.2% | 4.3% | 6,9% | 7.9% | 7.5% | 6,2% | 7.6% | 10.1% | 9.6% | 6.7% | 8.2% | 6,8% | 6.6% | 8.1% | 7.2% | 6.9% | 8.6% |
EBIT margin | 2.1% | 4.3% | 6.7% | 6.0% | 2.6% | 3.5% | 6.6% | 6.6% | 1.4% | 5.8% | 7.9% | 8.6% | 2.6% | 5.4% | 7.0% | 6.5% | 1.9% | 5,1% | 6.4% | 5.9% | 2,5% | 4.6% | 7.8% | 7.1% | 3.3% | 5.1% | 5,1% | 5.0% | 6.6% | 5.6% | 5.1% | 5.9% |
ROIC excl. goodwill | 22.8% | 24.4% | 24.6% | 22,9% | 23.1% | 21.8% | 21.8% | 22.7% | 22.3% | 26.0% | 30.2% | 35.8% | 38.2% | 38.3% | 35.6% | 30.1% | 27.0% | 24,8% | 23.4% | 22.6% | 21,3% | 19.1% | 19.2% | 18.8% | 18.6% | 18.9% | 22,9% | 22.7% | 35.8% | 30.1% | 22.6% | 18.8% |
ROIC incl. goodwill | 16.5% | 17.5% | 17.7% | 16.6% | 16.7% | 16.0% | 15.8% | 16.4% | 15.9% | 18.1% | 20.7% | 24.4% | 25.8% | 26.0% | 23.3% | 19.5% | 17.4% | 15,9% | 15.2% | 14.8% | 14,3% | 13.1% | 13.5% | 13.7% | 13.6% | 13.9% | 16.6% | 16.4% | 24.4% | 19.5% | 14.8% | 13.7% |
Working capital | 844 | 802 | 1,128 | 983 | 1,090 | 1,260 | 1,116 | 752 | 782 | 670 | 750 | 414 | 514 | 653 | 447 | 672 | 774 | 1,063 | 867 | 846 | 1.001 | 1,249 | 1,226 | 1,315 | 1,502 | 1,405 | 982,6 | 752 | 414 | 672 | 846 | 1,315 |
Net interest-bearing debt | 644 | 539 | 680 | 386 | 531 | 686 | 421 | 69 | 389 | 243 | 161 | (234) | 98 | 367 | 615 | 726 | 833 | 1,342 | 987 | 880 | 1.893 | 2,298 | 2,070 | 2,077 | 2,455 | 2,284 | 386,2 | 69 | (234) | 726 | 880 | 2,077 |
Calculation of ROIC: | ||||||||||||||||||||||||||||||||
EBITA (LTM) | 437 | 449 | 459 | 440 | 456 | 456 | 450 | 456 | 429 | 463 | 517 | 597 | 627 | 638 | 621 | 582 | 573 | 585 | 576 | 570 | 587 | 574 | 639 | 695 | 719 | 740 | 440 | 456 | 597 | 582 | 570 | 695 |
Average investered capital excl. goodwill | 1,921 | 1,842 | 1,867 | 1,920 | 1,980 | 2,089 | 2,065 | 2,006 | 1,921 | 1,778 | 1,715 | 1,668 | 1,641 | 1,668 | 1,744 | 1,934 | 2,118 | 2,355 | 2,462 | 2,524 | 2,758 | 3,012 | 3,335 | 3,694 | 3,869 | 3,914 | 1,920 | 2,006 | 1,668 | 1,934 | 2,524 | 3,694 |
Average investered capital incl. goodwill | 2,651 | 2,570 | 2,598 | 2,659 | 2,735 | 2,856 | 2,841 | 2,788 | 2,699 | 2,557 | 2,494 | 2,449 | 2,426 | 2,451 | 2,663 | 2,984 | 3,294 | 3,674 | 3,788 | 3,859 | 4,113 | 4,378 | 4,720 | 5,090 | 5,277 | 5,325 | 2,659 | 2,788 | 2,449 | 2,984 | 3,859 | 5,090 |
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 2,101 | 2,034 | 1,720 | 1,830 | 1,784 | 2,133 | 1,931 | 2,070 | 2,219 | 2,041 | 1,692 | 1,731 | 1,649 | 1,787 | 1,505 | 1,623 | 1,755 | 2,092 | 2,266 | 2,357 | 2,706 | 2,519 | 2,512 | 3,294 | 3,721 | 3,813 | 1,830 | 2,070 | 1,731 | 1,623 | 2,357 | 3,294 |
Invested capital 6 months ago | 2,034 | 1,720 | 1,830 | 1,784 | 2,133 | 1,931 | 2,070 | 2,219 | 2,041 | 1,692 | 1,731 | 1,649 | 1,787 | 1,505 | 1,623 | 1,755 | 2,092 | 2,266 | 2,357 | 2,706 | 2,519 | 2,512 | 3,294 | 3,721 | 3,813 | 3,948 | 1,784 | 2,219 | 1,649 | 1,755 | 2,706 | 3,721 |
Invested capital 3 months ago | 1,720 | 1,830 | 1,784 | 2,133 | 1,931 | 2,070 | 2,219 | 2,041 | 1,692 | 1,731 | 1,649 | 1,787 | 1,505 | 1,623 | 1,755 | 2,092 | 2,266 | 2,357 | 2,706 | 2,519 | 2,512 | 3,294 | 3,721 | 3,813 | 3,948 | 3,997 | 2,133 | 2,041 | 1,787 | 2,092 | 2,519 | 3,813 |
Invested capital current period | 1,830 | 1,784 | 2,133 | 1,931 | 2,070 | 2,219 | 2,041 | 1,692 | 1,731 | 1,649 | 1,787 | 1,505 | 1,623 | 1,755 | 2,092 | 2,266 | 2,357 | 2,706 | 2,519 | 2,512 | 3,294 | 3,721 | 3,813 | 3,948 | 3,997 | 3,900 | 1,931 | 1,692 | 1,505 | 2,266 | 2,512 | 3,948 |
Average | 1,921 | 1,842 | 1,867 | 1,920 | 1,980 | 2,089 | 2,065 | 2,006 | 1,921 | 1,778 | 1,715 | 1,668 | 1,641 | 1,668 | 1,744 | 1,934 | 2,118 | 2,355 | 2,462 | 2,524 | 2,758 | 3,012 | 3,335 | 3,694 | 3,869 | 3,914 | 1,920 | 2,006 | 1,668 | 1,934 | 2,524 | 3,694 |
Average investered capital incl. goodwill is calculated as such *: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 2,839 | 2,764 | 2,446 | 2,556 | 2,512 | 2,880 | 2,687 | 2,860 | 2,997 | 2,819 | 2,477 | 2,504 | 2,428 | 2,565 | 2,299 | 2,413 | 2,527 | 3,414 | 3,582 | 3,653 | 4,048 | 3,867 | 3,869 | 4,669 | 5,106 | 5,237 | 2,556 | 2,860 | 2,504 | 2,413 | 3,653 | 4,669 |
Invested capital 6 months ago | 2,764 | 2,446 | 2,556 | 2,512 | 2,880 | 2,687 | 2,860 | 2,997 | 2,819 | 2,477 | 2,504 | 2,428 | 2,565 | 2,299 | 2,413 | 2,527 | 3,414 | 3,582 | 3,653 | 4,048 | 3,867 | 3,869 | 4,669 | 5,106 | 5,237 | 5,348 | 2,512 | 2,997 | 2,428 | 2,527 | 4,048 | 5,106 |
Invested capital 3 months ago | 2,446 | 2,556 | 2,512 | 2,880 | 2,687 | 2,860 | 2,997 | 2,819 | 2,477 | 2,504 | 2,428 | 2,565 | 2,299 | 2,413 | 2,527 | 3,414 | 3,582 | 3,653 | 4,048 | 3,867 | 3,869 | 4,669 | 5,106 | 5,237 | 5,348 | 5,416 | 2,880 | 2,819 | 2,565 | 3,414 | 3,867 | 5,237 |
Invested capital current period | 2,556 | 2,512 | 2,880 | 2,687 | 2,860 | 2,997 | 2,819 | 2,477 | 2,504 | 2,428 | 2,565 | 2,299 | 2,413 | 2,527 | 3,414 | 3,582 | 3,653 | 4,048 | 3,867 | 3,869 | 4,669 | 5,106 | 5,237 | 5,348 | 5,416 | 5,298 | 2,687 | 2,477 | 2,299 | 3,582 | 3,869 | 5,348 |
Average | 2,651 | 2,570 | 2,598 | 2,659 | 2,735 | 2,856 | 2,841 | 2,788 | 2,699 | 2,557 | 2,494 | 2,449 | 2,426 | 2,451 | 2,663 | 2,984 | 3,294 | 3,674 | 3,788 | 3,859 | 4,113 | 4,378 | 4,720 | 5,090 | 5,277 | 5,325 | 2,659 | 2,788 | 2,449 | 2,984 | 3,859 | 5,090 |
*) Includes also goodwill in Schouw & Co. in the amount of 430,2 million dkk. | ||||||||||||||||||||||||||||||||
0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | |
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | |
11.0% | 12.2% | 12.6% | 12.0% | 10.5% | 10.7% | 12.9% | 13.8% | 10.6% | 13.1% | 13.6% | 12.9% | 10.4% | 12.0% | 13.2% | 13.0% | 10.6% | 12.2% | 12.9% | 12.9% | 11.0% | 12.7% | 14.5% | 13.7% | 11.8% | 12.6% | 12.1% | 12.0% | 12.8% | 12.3% | 12.3% | 13.2% |
Fibertex Personal Care | Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | ||||||||||||||||||||||||||||||||
Revenue | 426 | 421 | 455 | 486 | 428 | 404 | 465 | 501 | 458 | 433 | 444 | 456 | 473 | 494 | 505 | 545 | 541 | 486 | 552 | 608 | 589 | 506 | 541 | 546 | 536 | 548 | 1,788 | 1,797 | 1,792 | 2,017 | 2,187 | 2,183 |
Gross profit | 66 | 62 | 74 | 87 | 94 | 64 | 90 | 134 | 124 | 81 | 97 | 96 | 97 | 96 | 115 | 115 | 100 | 81 | 91 | 108 | 115 | 83 | 106 | 102 | 118 | 151 | 289 | 382 | 398 | 423 | 380 | 407 |
EBITDA | 70 | 66 | 81 | 90 | 99 | 70 | 92 | 134 | 116 | 74 | 86 | 86 | 83 | 82 | 98 | 102 | 83 | 69 | 75 | 88 | 99 | 72 | 93 | 88 | 101 | 124 | 308 | 395 | 362 | 365 | 315 | 352 |
Depreciation/impairment | 32 | 32 | 33 | 39 | 36 | 36 | 34 | 37 | 29 | 29 | 29 | 29 | 28 | 28 | 28 | 31 | 29 | 30 | 31 | 31 | 33 | 35 | 34 | 35 | 36 | 35 | 136 | 142 | 116 | 114 | 122 | 137 |
Operating profit (EBIT) | 38 | 34 | 48 | 51 | 64 | 34 | 57 | 97 | 87 | 45 | 57 | 57 | 55 | 54 | 70 | 71 | 54 | 39 | 43 | 57 | 66 | 38 | 59 | 52 | 66 | 89 | 171 | 253 | 246 | 251 | 194 | 215 |
Profit from associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gains on equity divestments | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Financial items, net | (5) | (4) | (3) | 9 | 1 | (5) | 1 | (3) | (9) | (1) | (1) | 5 | (4) | (5) | (11) | (5) | (6) | (2) | (6) | (4) | 0 | (9) | 3 | (7) | 1 | (5) | -2 | (6) | (7) | (25) | (18) | (12) |
Profit before tax | 34 | 31 | 45 | 60 | 65 | 29 | 59 | 94 | 78 | 44 | 56 | 61 | 51 | 48 | 60 | 66 | 48 | 38 | 37 | 53 | 66 | 29 | 62 | 45 | 67 | 85 | 169 | 247 | 239 | 226 | 176 | 203 |
Tax on profit | (8) | (7) | (10) | (10) | (15) | (6) | (13) | (26) | (18) | (10) | (13) | (20) | (12) | (12) | (14) | (9) | (11) | (9) | (10) | (15) | (16) | (6) | (14) | (7) | (15) | (20) | -34 | (60) | (61) | (47) | (44) | (43) |
Profit before non-controlling interests | 26 | 24 | 35 | 50 | 50 | 23 | 45 | 69 | 60 | 34 | 43 | 41 | 39 | 37 | 46 | 57 | 37 | 29 | 28 | 38 | 50 | 23 | 48 | 39 | 51 | 65 | 135 | 187 | 178 | 179 | 131 | 160 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit | 26 | 24 | 35 | 50 | 50 | 23 | 45 | 69 | 60 | 34 | 43 | 41 | 39 | 37 | 46 | 57 | 37 | 29 | 28 | 38 | 50 | 23 | 48 | 39 | 51 | 65 | 135 | 187 | 178 | 179 | 131 | 160 |
CASH FLOW | ||||||||||||||||||||||||||||||||
Cash flows from operating activities | 72 | 29 | 96 | 30 | 91 | 129 | 22 | 100 | 112 | 50 | 103 | 67 | 53 | 41 | 87 | 72 | 58 | 40 | 47 | 40 | 126 | 138 | 87 | 76 | 105 | 143 | 226 | 342 | 331 | 254 | 184 | 426 |
Cash flows from investing activities | (10) | (8) | (10) | (102) | (8) | (9) | (3) | (66) | (66) | (48) | (117) | (131) | (138) | (78) | (31) | (73) | (25) | (57) | (32) | (39) | (22) | (14) | (11) | (8) | (7) | (5) | -130 | (85) | (361) | (319) | (153) | (55) |
Cash flows from financing activities | (0) | (13) | (79) | 6 | (56) | (142) | (1) | (49) | (32) | (2) | (6) | 66 | 98 | 44 | (44) | 23 | (36) | 10 | (30) | (25) | (51) | (125) | (135) | (60) | (77) | (164) | -86 | (248) | 25 | 121 | (81) | (371) |
BALANCE SHEET | ||||||||||||||||||||||||||||||||
Intangible assets | 24 | 24 | 24 | 75 | 67 | 66 | 66 | 76 | 65 | 83 | 83 | 86 | 83 | 82 | 81 | 84 | 83 | 83 | 82 | 82 | 83 | 81 | 80 | 78 | 76 | 75 | 75 | 76 | 86 | 84 | 82 | 78 |
Property, plant and equipment | 996 | 990 | 1,005 | 1,100 | 1,134 | 1,064 | 940 | 975 | 1,058 | 1,081 | 1,120 | 1,171 | 1,283 | 1,308 | 1,302 | 1,357 | 1,368 | 1,412 | 1,397 | 1,412 | 1,435 | 1,391 | 1,398 | 1,368 | 1,311 | 1,272 | 1,100 | 975 | 1,171 | 1,357 | 1,412 | 1,368 |
Other non-current assets | 147 | 148 | 145 | 128 | 132 | 120 | 100 | 82 | 81 | 84 | 74 | 45 | 36 | 26 | 36 | 72 | 62 | 50 | 42 | 56 | 84 | 76 | 73 | 51 | 72 | 68 | 128 | 82 | 45 | 72 | 57 | 51 |
Cash and cash equivalents | 71 | 79 | 87 | 21 | 49 | 25 | 39 | 28 | 44 | 45 | 23 | 23 | 36 | 43 | 64 | 77 | 94 | 67 | 53 | 31 | 109 | 86 | 24 | 31 | 55 | 28 | 21 | 28 | 23 | 77 | 31 | 31 |
Other current assets | 462 | 510 | 536 | 559 | 545 | 499 | 530 | 543 | 579 | 502 | 499 | 564 | 593 | 590 | 605 | 633 | 662 | 696 | 761 | 742 | 689 | 605 | 633 | 579 | 580 | 576 | 559 | 543 | 564 | 633 | 742 | 579 |
AKTIVER I ALT | 1,700 | 1,751 | 1,797 | 1,882 | 1,927 | 1,775 | 1,675 | 1,704 | 1,827 | 1,795 | 1,799 | 1,888 | 2,030 | 2,048 | 2,088 | 2,222 | 2,269 | 2,307 | 2,336 | 2,323 | 2,400 | 2,240 | 2,208 | 2,107 | 2,095 | 2,019 | 1,882 | 1,704 | 1,888 | 2,222 | 2,323 | 2,107 |
Equity | 592 | 630 | 697 | 730 | 752 | 738 | 691 | 786 | 810 | 843 | 857 | 877 | 820 | 831 | 865 | 941 | 888 | 931 | 946 | 992 | 995 | 996 | 1,069 | 1,104 | 1,000 | 1,055 | 730 | 786 | 877 | 941 | 992 | 1,104 |
Interest-bearing debt | 736 | 731 | 666 | 709 | 733 | 586 | 551 | 511 | 637 | 574 | 574 | 610 | 807 | 851 | 816 | 822 | 906 | 907 | 894 | 853 | 920 | 768 | 634 | 574 | 621 | 453 | 709 | 511 | 610 | 822 | 853 | 574 |
Other creditors | 372 | 391 | 433 | 443 | 442 | 452 | 433 | 407 | 379 | 378 | 368 | 401 | 404 | 367 | 407 | 458 | 475 | 470 | 495 | 478 | 485 | 476 | 505 | 430 | 474 | 511 | 443 | 407 | 401 | 458 | 478 | 430 |
Total liabilities and equity | 1,700 | 1,751 | 1,797 | 1,882 | 1,927 | 1,775 | 1,675 | 1,704 | 1,827 | 1,795 | 1,799 | 1,888 | 2,030 | 2,048 | 2,088 | 2,222 | 2,269 | 2,307 | 2,336 | 2,323 | 2,400 | 2,240 | 2,208 | 2,107 | 2,095 | 2,019 | 1,882 | 1,704 | 1,888 | 2,222 | 2,323 | 2,107 |
Average number of employees | 425 | 430 | 443 | 481 | 506 | 512 | 520 | 518 | 521 | 543 | 565 | 580 | 621 | 656 | 672 | 677 | 695 | 709 | 725 | 735 | 737 | 743 | 755 | 757 | 740 | 740 | 447 | 514 | 574 | 656 | 713 | 746 |
FINANCIAL KEY FIGURES | ||||||||||||||||||||||||||||||||
EBITDA margin | 16.4% | 15.7% | 17.8% | 18.6% | 23.2% | 17.3% | 19.7% | 26.8% | 25.4% | 17.0% | 19.4% | 18.7% | 17.5% | 16.6% | 19.4% | 18.8% | 15,4% | 14,2% | 13,5% | 14.5% | 16.8% | 14.3% | 17.2% | 16.1% | 18.9% | 22.6% | 17,2% | 22.0% | 20.2% | 18.1% | 14.4% | 16.1% |
EBIT margin | 9.0% | 8.1% | 10.5% | 10.5% | 14.8% | 8.5% | 12.3% | 19.4% | 19.1% | 10.3% | 12.8% | 12.4% | 11.7% | 10.9% | 13.9% | 13.1% | 10,0% | 8,1% | 7,9% | 9.3% | 11.2% | 7.4% | 10.9% | 9.6% | 12.3% | 16.3% | 9,6% | 14.1% | 13.7% | 12.4% | 8.9% | 9.8% |
ROIC excl. goodwill | 12.9% | 12.9% | 13.5% | 14,4% | 15.9% | 15.8% | 16.8% | 20.7% | 23.0% | 23.4% | 22.5% | 18.4% | 15.3% | 15.1% | 15.4% | 15.8% | 15,5% | 14,4% | 12,5% | 11.4% | 11.8% | 11.9% | 12.9% | 13.0% | 13.5% | 17.1% | 14,4% | 20.7% | 18.4% | 15.8% | 11.4% | 13.0% |
ROIC incl. goodwill | 12.2% | 12.1% | 12.7% | 13.5% | 14.9% | 14.7% | 15.5% | 19.2% | 21.3% | 21.7% | 20.9% | 17.1% | 14.3% | 14.2% | 14.5% | 14.9% | 14,7% | 13,6% | 11,8% | 10.8% | 11.2% | 11.2% | 12.2% | 12.3% | 12.7% | 16.1% | 13.5% | 19.2% | 17.1% | 14.9% | 10.8% | 12.3% |
Working capital | 234 | 268 | 261 | 293 | 289 | 225 | 264 | 294 | 288 | 272 | 276 | 295 | 316 | 346 | 334 | 355 | 366 | 402 | 439 | 447 | 428 | 344 | 351 | 332 | 313 | 283 | 293 | 294 | 295 | 355 | 447 | 332 |
Net interest-bearing debt | 661 | 646 | 575 | 688 | 684 | 560 | 512 | 482 | 515 | 529 | 551 | 586 | 771 | 808 | 752 | 746 | 812 | 839 | 841 | 822 | 811 | 682 | 610 | 542 | 566 | 425 | 688 | 482 | 586 | 746 | 822 | 542 |
Calculation of ROIC: | ||||||||||||||||||||||||||||||||
EBITA (LTM) | 156 | 153 | 160 | 176 | 202 | 202 | 212 | 257 | 281 | 291 | 291 | 248 | 217 | 226 | 240 | 256 | 255 | 241 | 214 | 200 | 212 | 211 | 227 | 223 | 224 | 276 | 176 | 257 | 248 | 256 | 200 | 223 |
Average investered capital excl. goodwill | 1,204 | 1,189 | 1,188 | 1,224 | 1,272 | 1,279 | 1,266 | 1,238 | 1,221 | 1,243 | 1,296 | 1,350 | 1,421 | 1,499 | 1,559 | 1,613 | 1,639 | 1,672 | 1,717 | 1,756 | 1,791 | 1,775 | 1,755 | 1,719 | 1,660 | 1,617 | 1,224 | 1,238 | 1,350 | 1,613 | 1,756 | 1,719 |
Average investered capital incl. goodwill | 1,277 | 1,262 | 1,261 | 1,303 | 1,357 | 1,372 | 1,366 | 1,337 | 1,320 | 1,342 | 1,395 | 1,449 | 1,520 | 1,598 | 1,658 | 1,712 | 1,738 | 1,771 | 1,816 | 1,855 | 1,890 | 1,874 | 1,855 | 1,818 | 1,759 | 1,716 | 1,303 | 1,337 | 1,449 | 1,712 | 1,855 | 1,818 |
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 1,256 | 1,205 | 1,192 | 1,166 | 1,195 | 1,201 | 1,336 | 1,355 | 1,225 | 1,149 | 1,222 | 1,286 | 1,314 | 1,362 | 1,438 | 1,570 | 1,627 | 1,601 | 1,652 | 1,676 | 1,757 | 1,784 | 1,805 | 1,818 | 1,692 | 1,706 | 1,166 | 1,355 | 1,286 | 1,570 | 1,676 | 1,818 |
Invested capital 6 months ago | 1,205 | 1,192 | 1,166 | 1,195 | 1,201 | 1,336 | 1,355 | 1,225 | 1,149 | 1,222 | 1,286 | 1,314 | 1,362 | 1,438 | 1,570 | 1,627 | 1,601 | 1,652 | 1,676 | 1,757 | 1,784 | 1,805 | 1,818 | 1,692 | 1,706 | 1,658 | 1,195 | 1,225 | 1,314 | 1,627 | 1,757 | 1,692 |
Invested capital 3 months ago | 1,192 | 1,166 | 1,195 | 1,201 | 1,336 | 1,355 | 1,225 | 1,149 | 1,222 | 1,286 | 1,314 | 1,362 | 1,438 | 1,570 | 1,627 | 1,601 | 1,652 | 1,676 | 1,757 | 1,784 | 1,805 | 1,818 | 1,692 | 1,706 | 1,658 | 1,585 | 1,201 | 1,149 | 1,362 | 1,601 | 1,784 | 1,706 |
Invested capital current period | 1,166 | 1,195 | 1,201 | 1,336 | 1,355 | 1,225 | 1,149 | 1,222 | 1,286 | 1,314 | 1,362 | 1,438 | 1,570 | 1,627 | 1,601 | 1,652 | 1,676 | 1,757 | 1,784 | 1,805 | 1,818 | 1,692 | 1,706 | 1,658 | 1,585 | 1,517 | 1,336 | 1,222 | 1,438 | 1,652 | 1,805 | 1,658 |
Average | 1,204 | 1,189 | 1,188 | 1,224 | 1,272 | 1,279 | 1,266 | 1,238 | 1,221 | 1,243 | 1,296 | 1,350 | 1,421 | 1,499 | 1,559 | 1,613 | 1,639 | 1,672 | 1,717 | 1,756 | 1,791 | 1,775 | 1,755 | 1,719 | 1,660 | 1,617 | 1,224 | 1,238 | 1,350 | 1,613 | 1,756 | 1,719 |
Average investered capital incl. goodwill is calculated as such *: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 1,328 | 1,277 | 1,264 | 1,238 | 1,267 | 1,273 | 1,435 | 1,455 | 1,325 | 1,248 | 1,321 | 1,385 | 1,413 | 1,461 | 1,537 | 1,669 | 1,726 | 1,700 | 1,751 | 1,775 | 1,857 | 1,883 | 1,905 | 1,917 | 1,791 | 1,805 | 1,238 | 1,455 | 1,385 | 1,669 | 1,775 | 1,917 |
Invested capital 6 months ago | 1,277 | 1,264 | 1,238 | 1,267 | 1,273 | 1,435 | 1,455 | 1,325 | 1,248 | 1,321 | 1,385 | 1,413 | 1,461 | 1,537 | 1,669 | 1,726 | 1,700 | 1,751 | 1,775 | 1,857 | 1,883 | 1,905 | 1,917 | 1,791 | 1,805 | 1,757 | 1,267 | 1,325 | 1,413 | 1,726 | 1,857 | 1,791 |
Invested capital 3 months ago | 1,264 | 1,238 | 1,267 | 1,273 | 1,435 | 1,455 | 1,325 | 1,248 | 1,321 | 1,385 | 1,413 | 1,461 | 1,537 | 1,669 | 1,726 | 1,700 | 1,751 | 1,775 | 1,857 | 1,883 | 1,905 | 1,917 | 1,791 | 1,805 | 1,757 | 1,684 | 1,273 | 1,248 | 1,461 | 1,700 | 1,883 | 1,805 |
Invested capital current period | 1,238 | 1,267 | 1,273 | 1,435 | 1,455 | 1,325 | 1,248 | 1,321 | 1,385 | 1,413 | 1,461 | 1,537 | 1,669 | 1,726 | 1,700 | 1,751 | 1,775 | 1,857 | 1,883 | 1,905 | 1,917 | 1,791 | 1,805 | 1,757 | 1,684 | 1,616 | 1,435 | 1,321 | 1,537 | 1,751 | 1,905 | 1,757 |
Average | 1,277 | 1,262 | 1,261 | 1,303 | 1,357 | 1,372 | 1,366 | 1,337 | 1,320 | 1,342 | 1,395 | 1,449 | 1,520 | 1,598 | 1,658 | 1,712 | 1,738 | 1,771 | 1,816 | 1,855 | 1,890 | 1,874 | 1,855 | 1,818 | 1,759 | 1,716 | 1,303 | 1,337 | 1,449 | 1,712 | 1,855 | 1,818 |
*) Includes also goodwill in Schouw & Co. in the amount of 48,1 million dkk. | ||||||||||||||||||||||||||||||||
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | |
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | |
15.5% | 14.7% | 16.3% | 17.9% | 22.0% | 15.8% | 19.3% | 26.8% | 27.1% | 18.7% | 21.9% | 21.0% | 20.5% | 19.4% | 22.8% | 21.1% | 18.6% | 16.7% | 16.4% | 17.8% | 19.5% | 16.4% | 19.6% | 18.7% | 22.1% | 27.6% | 16.2% | 21.2% | 22.2% | 21.0% | 17.4% | 18.6% |
Fibertex Nonwovens | Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | ||||||||||||||||||||||||||||||||
Revenue | 272 | 267 | 247 | 262 | 306 | 328 | 295 | 294 | 338 | 362 | 314 | 288 | 382 | 374 | 336 | 331 | 406 | 420 | 375 | 373 | 451 | 443 | 437 | 373 | 445 | 392 | 1,048 | 1,222 | 1,301 | 1,422 | 1,574 | 1,705 |
Gross profit | 56 | 55 | 56 | 55 | 70 | 79 | 61 | 62 | 77 | 88 | 68 | 63 | 90 | 86 | 70 | 71 | 86 | 91 | 78 | 60 | 82 | 86 | 86 | 54 | 99 | 99 | 222 | 273 | 296 | 318 | 314 | 309 |
EBITDA | 33 | 31 | 36 | 28 | 45 | 44 | 35 | 29 | 44 | 48 | 37 | 34 | 51 | 49 | 38 | 40 | 45 | 52 | 40 | 23 | 39 | 38 | 47 | 16 | 54 | 60 | 128 | 153 | 163 | 179 | 161 | 141 |
Depreciation/impairment | 16 | 16 | 16 | 19 | 18 | 19 | 19 | 21 | 21 | 19 | 20 | 22 | 21 | 23 | 23 | 24 | 24 | 25 | 25 | 21 | 26 | 24 | 25 | 33 | 25 | 26 | 66 | 77 | 82 | 91 | 95 | 107 |
Operating profit (EBIT) | 17 | 16 | 20 | 9 | 27 | 25 | 15 | 9 | 23 | 29 | 17 | 12 | 30 | 27 | 15 | 16 | 21 | 27 | 15 | 2 | 13 | 14 | 23 | (17) | 29 | 34 | 62 | 76 | 81 | 88 | 65 | 33 |
Profit from associates | (0) | (1) | (0) | (0) | (1) | 0 | 0 | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2) | (1) | 0 | 0 | 0 | 0 |
Gains on equity divestments | 0 | 0 | ||||||||||||||||||||||||||||||
Financial items, net | (3) | (2) | (1) | (4) | (4) | (3) | (5) | (1) | (3) | (2) | (6) | (9) | (8) | (11) | (12) | (7) | (9) | (15) | (13) | (4) | (7) | (9) | (6) | (6) | (12) | (9) | (10) | (12) | (20) | (39) | (40) | (28) |
Profit before tax | 14 | 13 | 19 | 5 | 23 | 22 | 11 | 8 | 19 | 27 | 11 | 3 | 21 | 15 | 3 | 9 | 12 | 12 | 2 | (2) | 7 | 6 | 16 | (23) | 17 | 25 | 50 | 64 | 61 | 49 | 25 | 6 |
Tax on profit | (4) | (3) | (6) | (1) | (7) | (8) | (5) | 2 | (6) | (8) | (5) | (1) | (8) | (6) | (5) | 12 | (5) | (1) | (4) | (0) | (1) | (2) | (3) | 6 | (5) | (6) | (14) | (17) | (20) | (7) | (10) | 0 |
Profit before non-controlling interests | 10 | 9 | 12 | 4 | 16 | 14 | 6 | 10 | 13 | 20 | 7 | 2 | 14 | 10 | (1) | 21 | 8 | 12 | (2) | (2) | 6 | 4 | 13 | (18) | 12 | 19 | 36 | 47 | 41 | 42 | 16 | 5 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 2 | 2 | (0) | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 3 | 2 | 1 | 1 | 1 | 1 | 3 | 3 | 0 | 0 | 3 | 4 | 4 | 6 | 5 |
Profit | 10 | 9 | 12 | 4 | 16 | 16 | 8 | 10 | 14 | 20 | 8 | 3 | 15 | 11 | 0 | 21 | 8 | 14 | 0 | (1) | 6 | 5 | 15 | (15) | 15 | 19 | 36 | 50 | 45 | 47 | 22 | 11 |
CASH FLOW | ||||||||||||||||||||||||||||||||
Cash flows from operating activities | 18 | 33 | 19 | 13 | 28 | 23 | 51 | (5) | 10 | 45 | 24 | 34 | 0 | 35 | 35 | 38 | 18 | 11 | (7) | 37 | (31) | 32 | 60 | 50 | 46 | 48 | 82 | 97 | 114 | 108 | 60 | 112 |
Cash flows from investing activities | (4) | (8) | (7) | (115) | (55) | (65) | (37) | (156) | (22) | (26) | (15) | (46) | (23) | (43) | (28) | (86) | (103) | (26) | (17) | (33) | (160) | (16) | (27) | (54) | (34) | (16) | (134) | (313) | (108) | (180) | (179) | (256) |
Cash flows from financing activities | (3) | (13) | (2) | 99 | 55 | 60 | (1) | 101 | 42 | (33) | (26) | 4 | 20 | (4) | (5) | 51 | 81 | 10 | 22 | (6) | 187 | (16) | (26) | (3) | 12 | (38) | 81 | 216 | (13) | 63 | 108 | 142 |
BALANCE SHEET | ||||||||||||||||||||||||||||||||
Intangible assets | 66 | 65 | 65 | 142 | 156 | 158 | 161 | 168 | 164 | 166 | 162 | 164 | 161 | 156 | 152 | 150 | 153 | 156 | 156 | 160 | 159 | 157 | 157 | 152 | 148 | 143 | 142 | 168 | 164 | 150 | 160 | 152 |
Property, plant and equipment | 439 | 427 | 418 | 497 | 579 | 617 | 626 | 723 | 717 | 726 | 743 | 754 | 753 | 771 | 771 | 820 | 838 | 824 | 807 | 824 | 951 | 945 | 953 | 976 | 957 | 943 | 497 | 723 | 754 | 820 | 824 | 976 |
Other non-current assets | 12 | 11 | 11 | 11 | 0 | 0 | 0 | 4 | 0 | 0 | 0 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 2 | 7 | 8 | 10 | 36 | 8 | 7 | 11 | 4 | 4 | 4 | 2 | 36 |
Cash and cash equivalents | 41 | 53 | 62 | 59 | 86 | 104 | 118 | 59 | 89 | 75 | 59 | 49 | 46 | 35 | 35 | 37 | 34 | 29 | 28 | 25 | 46 | 32 | 54 | 23 | 82 | 99 | 59 | 59 | 49 | 37 | 25 | 23 |
Other current assets | 431 | 421 | 441 | 470 | 532 | 524 | 494 | 550 | 573 | 598 | 571 | 561 | 616 | 641 | 629 | 627 | 724 | 764 | 750 | 757 | 845 | 825 | 801 | 766 | 753 | 743 | 470 | 550 | 561 | 627 | 757 | 766 |
AKTIVER I ALT | 989 | 977 | 996 | 1,179 | 1,353 | 1,404 | 1,399 | 1,503 | 1,544 | 1,566 | 1,534 | 1,532 | 1,581 | 1,607 | 1,591 | 1,639 | 1,753 | 1,777 | 1,746 | 1,768 | 2,007 | 1,967 | 1,975 | 1,953 | 1,948 | 1,936 | 1,179 | 1,503 | 1,532 | 1,639 | 1,768 | 1,953 |
Equity | 324 | 331 | 340 | 386 | 430 | 463 | 454 | 460 | 465 | 488 | 497 | 504 | 516 | 528 | 522 | 548 | 548 | 544 | 527 | 541 | 651 | 653 | 671 | 650 | 621 | 629 | 386 | 460 | 504 | 548 | 541 | 650 |
Interest-bearing debt | 479 | 466 | 464 | 584 | 657 | 697 | 699 | 793 | 832 | 806 | 784 | 782 | 795 | 794 | 790 | 843 | 925 | 934 | 957 | 960 | 1,070 | 1,044 | 1,031 | 1,042 | 1,048 | 1,035 | 584 | 793 | 782 | 843 | 960 | 1,042 |
Other creditors | 186 | 181 | 193 | 209 | 267 | 243 | 246 | 251 | 246 | 272 | 252 | 246 | 270 | 285 | 279 | 248 | 281 | 299 | 262 | 267 | 286 | 270 | 272 | 261 | 279 | 272 | 209 | 251 | 246 | 248 | 267 | 261 |
Total liabilities and equity | 989 | 977 | 996 | 1,179 | 1,353 | 1,404 | 1,399 | 1,503 | 1,544 | 1,566 | 1,534 | 1,532 | 1,581 | 1,607 | 1,591 | 1,639 | 1,753 | 1,777 | 1,746 | 1,768 | 2,007 | 1,967 | 1,975 | 1,953 | 1,948 | 1,936 | 1,179 | 1,503 | 1,532 | 1,639 | 1,768 | 1,953 |
Average number of employees | 517 | 535 | 548 | 580 | 622 | 739 | 745 | 771 | 785 | 801 | 821 | 830 | 841 | 860 | 876 | 883 | 947 | 1,011 | 1,019 | 1,008 | 1,024 | 1,032 | 1,028 | 1,024 | 993 | 1,005 | 547 | 719 | 810 | 867 | 1,000 | 1,019 |
FINANCIAL KEY FIGURES | ||||||||||||||||||||||||||||||||
EBITDA margin | 12.2% | 11.7% | 14.6% | 10.6% | 14.7% | 13.4% | 11.8% | 10.0% | 13.0% | 13.3% | 11.8% | 11.6% | 13.4% | 13.2% | 11.3% | 12.2% | 11,0% | 12,5% | 10,7% | 6.2% | 8.7% | 8.5% | 10.8% | 4.3% | 12.2% | 15.3% | 12.2% | 12.5% | 12.5% | 12.6% | 10.2% | 8.2% |
EBIT margin | 6.4% | 5.9% | 8.2% | 3.4% | 8.9% | 7.6% | 5.2% | 3.0% | 6.6% | 8.0% | 5.5% | 4.1% | 7.8% | 7.1% | 4.6% | 4.8% | 5,1% | 6,5% | 4,1% | 0.5% | 2.9% | 3.2% | 5.2% | -4.6% | 6.6% | 8.7% | 5.9% | 6.2% | 6.2% | 6.2% | 4.2% | 1.9% |
ROIC excl. goodwill | 6.2% | 7.1% | 8.5% | 8.4% | 9.1% | 9.4% | 8.3% | 7.8% | 7.0% | 7.1% | 7.4% | 7.7% | 8.3% | 8.2% | 7.7% | 7.8% | 6,9% | 6,8% | 6,7% | 5.6% | 4.9% | 3.9% | 4.3% | 3.1% | 4.2% | 5.6% | 8.4% | 7.8% | 7.7% | 7.8% | 5.6% | 3.1% |
ROIC incl. goodwill | 5.6% | 6.4% | 7.7% | 7.5% | 8.1% | 8.4% | 7.4% | 7.0% | 6.3% | 6.4% | 6.7% | 7.0% | 7.6% | 7.4% | 7.0% | 7.1% | 6,3% | 6,3% | 6,1% | 5.2% | 4.5% | 3.6% | 3.9% | 2.9% | 3.9% | 5.2% | 7.5% | 7.0% | 7.0% | 7.1% | 5.2% | 2.9% |
Working capital | 294 | 283 | 294 | 319 | 332 | 349 | 317 | 361 | 379 | 384 | 375 | 383 | 411 | 419 | 415 | 422 | 487 | 504 | 528 | 524 | 572 | 565 | 546 | 510 | 498 | 491 | 319 | 361 | 383 | 422 | 524 | 510 |
Net interest-bearing debt | 438 | 409 | 398 | 522 | 571 | 593 | 581 | 730 | 743 | 731 | 726 | 734 | 749 | 760 | 755 | 806 | 891 | 904 | 929 | 926 | 1,025 | 1,012 | 977 | 980 | 966 | 936 | 522 | 730 | 734 | 806 | 926 | 980 |
Calculation of ROIC: | ||||||||||||||||||||||||||||||||
EBITA (LTM) | 47 | 53 | 63 | 65 | 75 | 85 | 80 | 82 | 77 | 81 | 87 | 92 | 101 | 100 | 95 | 98 | 90 | 91 | 92 | 78 | 71 | 58 | 66 | 49 | 66 | 86 | 65 | 82 | 92 | 98 | 78 | 49 |
Average investered capital excl. goodwill | 765 | 752 | 742 | 772 | 827 | 903 | 974 | 1,046 | 1,095 | 1,134 | 1,178 | 1,185 | 1,200 | 1,218 | 1,233 | 1,262 | 1,302 | 1,336 | 1,374 | 1,402 | 1,453 | 1,501 | 1,545 | 1,585 | 1,565 | 1,543 | 772 | 1,046 | 1,185 | 1,262 | 1,402 | 1,585 |
Average investered capital incl. goodwill | 843 | 829 | 820 | 859 | 926 | 1,013 | 1,095 | 1,168 | 1,217 | 1,255 | 1,299 | 1,306 | 1,322 | 1,340 | 1,355 | 1,382 | 1,421 | 1,455 | 1,493 | 1,522 | 1,575 | 1,623 | 1,666 | 1,701 | 1,681 | 1,658 | 859 | 1,168 | 1,306 | 1,382 | 1,522 | 1,701 |
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 783 | 769 | 755 | 753 | 730 | 731 | 874 | 975 | 1,034 | 1,013 | 1,162 | 1,173 | 1,187 | 1,190 | 1,190 | 1,234 | 1,257 | 1,251 | 1,306 | 1,393 | 1,396 | 1,400 | 1,419 | 1,599 | 1,587 | 1,574 | 753 | 975 | 1,173 | 1,234 | 1,393 | 1,599 |
Invested capital 6 months ago | 769 | 755 | 753 | 730 | 731 | 874 | 975 | 1,034 | 1,013 | 1,162 | 1,173 | 1,187 | 1,190 | 1,190 | 1,234 | 1,257 | 1,251 | 1,306 | 1,393 | 1,396 | 1,400 | 1,419 | 1,599 | 1,587 | 1,574 | 1,580 | 730 | 1,034 | 1,187 | 1,257 | 1,396 | 1,587 |
Invested capital 3 months ago | 755 | 753 | 730 | 731 | 874 | 975 | 1,034 | 1,013 | 1,162 | 1,173 | 1,187 | 1,190 | 1,190 | 1,234 | 1,257 | 1,251 | 1,306 | 1,393 | 1,396 | 1,400 | 1,419 | 1,599 | 1,587 | 1,574 | 1,580 | 1,521 | 731 | 1,013 | 1,190 | 1,251 | 1,400 | 1,574 |
Invested capital current period | 753 | 730 | 731 | 874 | 975 | 1,034 | 1,013 | 1,162 | 1,173 | 1,187 | 1,190 | 1,190 | 1,234 | 1,257 | 1,251 | 1,306 | 1,393 | 1,396 | 1,400 | 1,419 | 1,599 | 1,587 | 1,574 | 1,580 | 1,521 | 1,496 | 874 | 1,162 | 1,190 | 1,306 | 1,419 | 1,580 |
Average | 765 | 752 | 742 | 772 | 827 | 903 | 974 | 1,046 | 1,095 | 1,134 | 1,178 | 1,185 | 1,200 | 1,218 | 1,233 | 1,262 | 1,302 | 1,336 | 1,374 | 1,402 | 1,453 | 1,501 | 1,545 | 1,585 | 1,565 | 1,543 | 772 | 1,046 | 1,185 | 1,262 | 1,402 | 1,585 |
Average investered capital incl. goodwill is calculated as such *: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 861 | 846 | 833 | 831 | 807 | 809 | 990 | 1,099 | 1,156 | 1,135 | 1,284 | 1,293 | 1,308 | 1,311 | 1,313 | 1,357 | 1,378 | 1,370 | 1,425 | 1,510 | 1,515 | 1,524 | 1,539 | 1,720 | 1,707 | 1,697 | 831 | 1,099 | 1,293 | 1,357 | 1,510 | 1,720 |
Invested capital 6 months ago | 846 | 833 | 831 | 807 | 809 | 990 | 1,099 | 1,156 | 1,135 | 1,284 | 1,293 | 1,308 | 1,311 | 1,313 | 1,357 | 1,378 | 1,370 | 1,425 | 1,510 | 1,515 | 1,524 | 1,539 | 1,720 | 1,707 | 1,697 | 1,678 | 807 | 1,156 | 1,308 | 1,378 | 1,515 | 1,707 |
Invested capital 3 months ago | 833 | 831 | 807 | 809 | 990 | 1,099 | 1,156 | 1,135 | 1,284 | 1,293 | 1,308 | 1,311 | 1,313 | 1,357 | 1,378 | 1,370 | 1,425 | 1,510 | 1,515 | 1,524 | 1,539 | 1,720 | 1,707 | 1,697 | 1,678 | 1,642 | 809 | 1,135 | 1,311 | 1,370 | 1,524 | 1,697 |
Invested capital current period | 831 | 807 | 809 | 990 | 1,099 | 1,156 | 1,135 | 1,284 | 1,293 | 1,308 | 1,311 | 1,313 | 1,357 | 1,378 | 1,370 | 1,425 | 1,510 | 1,515 | 1,524 | 1,539 | 1,720 | 1,707 | 1,697 | 1,678 | 1,642 | 1,616 | 990 | 1,284 | 1,313 | 1,425 | 1,539 | 1,678 |
Average | 843 | 829 | 820 | 859 | 926 | 1,013 | 1,095 | 1,168 | 1,217 | 1,255 | 1,299 | 1,306 | 1,322 | 1,340 | 1,355 | 1,382 | 1,421 | 1,455 | 1,493 | 1,522 | 1,575 | 1,623 | 1,666 | 1,701 | 1,681 | 1,658 | 859 | 1,168 | 1,306 | 1,382 | 1,522 | 1,701 |
*) Includes also goodwill in Schouw & Co. in the amount of 32,0 million dkk. | ||||||||||||||||||||||||||||||||
-0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | |
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | |
20.7% | 20.6% | 22.6% | 21.0% | 23.0% | 24.1% | 20.7% | 21.3% | 22.9% | 24.3% | 21.6% | 21.9% | 23.5% | 23.1% | 20.9% | 21.6% | 21.0% | 21.7% | 20.7% | 16.0% | 18.2% | 19.4% | 19.7% | 14.5% | 22.2% | 25.3% | 21.2% | 22.3% | 22.8% | 22.3% | 20.0% | 18.1% |
Before Schouw & Co´s acquisation of GPV | |||||||||||||||||||||||||||
GPV | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2015 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | |||||||||||||||||||||||||||
Revenue | 205 | 219 | 227 | 203 | 209 | 218 | 225 | 225 | 261 | 287 | 305 | 295 | 283 | 297 | 322 | 316 | 718 | 714 | 741 | 682 | 679 | 676 | 855 | 877 | 1,148 | 1,218 | 2,856 |
Gross profit | 40 | 42 | 48 | 43 | 43 | 39 | 51 | 51 | 56 | 63 | 65 | 68 | 60 | 60 | 73 | 69 | 108 | 99 | 117 | 120 | 87 | 100 | 173 | 183 | 251 | 262 | 444 |
EBITDA | 20 | 16 | 23 | 20 | 22 | 13 | 25 | 24 | 23 | 27 | 31 | 25 | 25 | 24 | 37 | 29 | 46 | 42 | 56 | 53 | 46 | 62 | 79 | 84 | 107 | 115 | 196 |
Depreciation/impairment | 7 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 5 | 8 | 9 | 10 | 10 | 30 | 31 | 28 | 29 | 30 | 29 | 25 | 24 | 25 | 37 | 118 |
Operating profit (EBIT) | 14 | 10 | 17 | 13 | 16 | 7 | 20 | 18 | 17 | 20 | 24 | 20 | 17 | 15 | 27 | 18 | 16 | 11 | 27 | 24 | 16 | 32 | 53 | 61 | 81 | 78 | 78 |
Profit from associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gains on equity divestments | 0 | 0 | 0 | 0 | |||||||||||||||||||||||
Financial items, net | -17 | 3 | 2 | -8 | -2 | -3 | 0 | -3 | -1 | 4 | 2 | 1 | 1 | -2 | -0 | -2 | -5 | -7 | -9 | 8 | -12 | -3 | -20 | -7 | 5 | -4 | -13 |
Profit before tax | -3 | 13 | 19 | 5 | 14 | 4 | 20 | 15 | 16 | 24 | 26 | 21 | 18 | 13 | 27 | 16 | 11 | 4 | 18 | 32 | 5 | 29 | 33 | 54 | 87 | 74 | 65 |
Tax on profit | -1 | 0 | 0 | 0 | 0 | 1 | -0 | 5 | -3 | -5 | -5 | 22 | -3 | -3 | 2 | -4 | -2 | -1 | -4 | -9 | -4 | -4 | -1 | 7 | 8 | -9 | -16 |
Profit before non-controlling interests | -4 | 13 | 19 | 5 | 14 | 6 | 20 | 20 | 13 | 18 | 21 | 43 | 15 | 10 | 29 | 12 | 9 | 3 | 14 | 23 | 1 | 25 | 32 | 60 | 95 | 65 | 50 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit | -4 | 13 | 19 | 5 | 14 | 6 | 20 | 20 | 13 | 18 | 21 | 43 | 15 | 10 | 29 | 12 | 9 | 3 | 14 | 24 | 1 | 25 | 32 | 60 | 95 | 65 | 50 |
CASH FLOW | |||||||||||||||||||||||||||
Cash flows from operating activities | 59 | -49 | 9 | 33 | 29 | 18 | 20 | 40 | 6 | 11 | -22 | 12 | 17 | -25 | 9 | 39 | 1 | 46 | 102 | 85 | 70 | -17 | 51 | 107 | 7 | 40 | 235 |
Cash flows from investing activities | -32 | -3 | -6 | -1 | -4 | -2 | -10 | -25 | -52 | -11 | -16 | -24 | -34 | -55 | -9 | -643 | -33 | -26 | -29 | 1 | -13 | -1 | -43 | -42 | -104 | -741 | -88 |
Cash flows from financing activities | 6 | 16 | -2 | -26 | -9 | -17 | -2 | 0 | 23 | 15 | 16 | 17 | 23 | 68 | 2 | 739 | -22 | -21 | -5 | -94 | -30 | -67 | -7 | -28 | 72 | 832 | -143 |
BALANCE SHEET | |||||||||||||||||||||||||||
Intangible assets | 0 | 0 | 0 | 16 | 19 | 19 | 18 | 18 | 18 | 18 | 429 | 424 | 420 | 426 | 422 | 428 | 421 | 0 | 18 | 429 | 422 | ||||||
Property, plant and equipment | 187 | 176 | 199 | 223 | 219 | 225 | 240 | 268 | 314 | 321 | 425 | 444 | 450 | 480 | 478 | 455 | 451 | 199 | 240 | 425 | 478 | ||||||
Other non-current assets | 14 | 17 | 25 | 26 | 24 | 23 | 45 | 44 | 44 | 45 | 54 | 187 | 189 | 183 | 183 | 180 | 174 | 25 | 45 | 54 | 183 | ||||||
Cash and cash equivalents | 29 | 39 | 52 | 31 | 41 | 18 | 27 | 32 | 20 | 23 | 158 | 107 | 106 | 174 | 168 | 235 | 192 | 52 | 27 | 158 | 168 | ||||||
Other current assets | 356 | 380 | 362 | 458 | 479 | 541 | 546 | 587 | 597 | 638 | 1,230 | 1,354 | 1,332 | 1,292 | 1,157 | 1,160 | 1,313 | 362 | 546 | 1,230 | 1,157 | ||||||
AKTIVER I ALT | 585 | 613 | 638 | 754 | 781 | 825 | 875 | 950 | 994 | 1,045 | 2,296 | 2,515 | 2,497 | 2,554 | 2,406 | 2,458 | 2,550 | 638 | 875 | 2,296 | 2,406 | ||||||
Equity | 113 | 135 | 165 | 187 | 185 | 199 | 243 | 262 | 274 | 316 | 743 | 780 | 795 | 850 | 857 | 841 | 876 | 165 | 243 | 743 | 857 | ||||||
Interest-bearing debt | 295 | 297 | 291 | 327 | 333 | 348 | 377 | 402 | 470 | 476 | 970 | 1,086 | 1,068 | 1,071 | 1,009 | 1,002 | 978 | 291 | 377 | 970 | 1,009 | ||||||
Other creditors | 178 | 181 | 182 | 239 | 264 | 278 | 255 | 286 | 250 | 253 | 582 | 650 | 634 | 633 | 540 | 615 | 697 | 182 | 255 | 582 | 540 | ||||||
Total liabilities and equity | 585 | 613 | 638 | 754 | 781 | 825 | 875 | 950 | 994 | 1,045 | 2,296 | 2,515 | 2,497 | 2,554 | 2,406 | 2,458 | 2,550 | 638 | 875 | 2,296 | 2,406 | ||||||
Average number of employees | 1.053 | 1,079 | 1,088 | 1,138 | 1,256 | 1,314 | 1,409 | 1,440 | 1,412 | 1,505 | 1,495 | 3,879 | 3,840 | 3,883 | 3,729 | 3,620 | 3,626 | 1,074 | 1,302 | 1,453 | 3,829 | ||||||
FINANCIAL KEY FIGURES | |||||||||||||||||||||||||||
EBITDA margin | 9.9% | 7.3% | 10.0% | 9.7% | 10.7% | 5,8% | 11.3% | 9.6% | 8.9% | 9.5% | 10.2% | 8.5% | 8,8% | 8,2% | 11,4% | 9.0% | 6.4% | 5.9% | 7.5% | 7.8% | 6.8% | 9.1% | 9.2% | 9.6% | 9.3% | 9.4% | 6.9% |
EBIT margin | 6.7% | 4.4% | 7.3% | 6.5% | 7.7% | 3,1% | 8.7% | 6.9% | 6.5% | 7.0% | 7.9% | 6.9% | 6,0% | 5,1% | 8,5% | 5.8% | 2.2% | 1.5% | 3.7% | 3.5% | 2.4% | 4.8% | 6.2% | 6.9% | 7.1% | 6.4% | 2.7% |
ROIC excl. goodwill | 14,2% | 15.0% | 15.9% | 15.7% | 18.1% | 17.8% | 16.9% | 15.8% | 13,5% | 12,9% | 11.8% | 8.9% | 7.2% | 6.3% | 6.0% | 6.1% | 7.4% | 15.9% | 17.1% | 11.8% | 6.0% | ||||||
ROIC incl. goodwill | 14,2% | 15.0% | 15.9% | 15.5% | 17.9% | 17.5% | 16.5% | 15,6% | 13,3% | 12,7% | 11.6% | 8.4% | 6.7% | 5.8% | 5.5% | 5.5% | 6.6% | 15.9% | 16.5% | 11.6% | 5.5% | ||||||
Working capital | 178 | 199 | 181 | 221 | 223 | 270 | 295 | 306 | 348 | 382 | 809 | 856 | 843 | 805 | 766 | 720 | 792 | 181 | 295 | 809 | 766 | ||||||
Net interest-bearing debt | 267 | 258 | 240 | 296 | 292 | 331 | 351 | 369 | 450 | 453 | 812 | 979 | 962 | 898 | 819 | 767 | 786 | 240 | 351 | 812 | 819 | ||||||
Calculation of ROIC: | |||||||||||||||||||||||||||
EBITA (LTM) | 53 | 56 | 61 | 61 | 75 | 79 | 82 | 82 | 77 | 81 | 79 | 84 | 86 | 90 | 100 | 98 | 117 | 61 | 82 | 79 | 100 | ||||||
Average investered capital excl. goodwill | 372 | 375 | 382 | 391 | 413 | 445 | 485 | 520 | 575 | 627 | 667 | 943 | 1,194 | 1,431 | 1,654 | 1,614 | 1,592 | 382 | 481 | 667 | 1,654 | ||||||
Average investered capital incl. goodwill | 372 | 375 | 382 | 395 | 419 | 454 | 497 | 530 | 584 | 636 | 677 | 992 | 1,283 | 1,562 | 1,825 | 1,788 | 1,767 | 382 | 497 | 677 | 1,825 | ||||||
Average investered capital excl. goodwill is calculated as such: | |||||||||||||||||||||||||||
Invested capital 9 months ago | 365 | 351 | 407 | 365 | 375 | 381 | 444 | 451 | 503 | 543 | 583 | 670 | 710 |
704 Thomas Dyhr Dalby: Excl. CCS | 1,687 | 1,673 | 1,660 | 407 | 444 | 583 | 1,687 | ||||||
Invested capital 6 months ago | 351 | 407 | 365 | 375 | 381 | 444 | 451 | 503 | 543 | 583 | 670 | 710 |
704 Thomas Dyhr Dalby: Excl. CCS | 1,687 | 1,673 | 1,660 | 1,596 | 365 | 442 | 670 | 1,673 | ||||||
Invested capital 3 months ago | 407 | 365 | 375 | 381 | 444 | 451 | 503 | 543 | 583 | 670 | 710 |
704 Thomas Dyhr Dalby: Excl. CCS | 1,687 | 1,673 | 1,660 | 1,596 | 1,528 | 375 | 494 | 710 | 1,660 | ||||||
Invested capital current period | 365 | 375 | 381 | 444 | 451 | 503 | 543 | 583 | 670 | 710 |
704 Thomas Dyhr Dalby: Excl. CCS | 1,687 | 1,673 | 1,660 | 1,596 | 1,528 | 1,583 | 381 | 543 |
704 Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | 1,596 | ||
Average | 372 | 375 | 382 | 391 | 413 | 445 | 485 | 520 | 575 | 627 | 667 | 943 | 1,194 | 1,431 | 1,654 | 1,614 | 1,592 | 382 | 481 | 667 | 1,654 | ||||||
Average investered capital incl. goodwill is calculated as such: | |||||||||||||||||||||||||||
Invested capital 9 months ago | 365 | 351 | 407 | 365 | 375 | 381 | 460 | 461 | 513 | 553 | 592 | 680 | 720 |
714 Thomas Dyhr Dalby: Excl. CCS | 1,856 | 1,843 | 1,833 | 407 | 460 | 592 | 1,856 | ||||||
Invested capital 6 months ago | 351 | 407 | 365 | 375 | 381 | 460 | 461 | 513 | 553 | 592 | 680 | 720 |
714 Thomas Dyhr Dalby: Excl. CCS | 1,856 | 1,843 | 1,833 | 1,769 | 365 | 461 | 680 | 1,843 | ||||||
Invested capital 3 months ago | 407 | 365 | 375 | 381 | 460 | 461 | 513 | 553 | 592 | 680 | 720 |
714 Thomas Dyhr Dalby: Excl. CCS | 1,856 | 1,843 | 1,833 | 1,769 | 1,706 | 375 | 513 | 720 | 1,833 | ||||||
Invested capital current period | 365 | 375 | 381 | 460 | 461 | 513 | 553 | 592 | 680 | 720 |
714 Thomas Dyhr Dalby: Excl. CCS | 1,856 | 1,843 | 1,833 | 1,769 | 1,706 | 1,760 | 381 | 553 |
714 Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | Thomas Dyhr Dalby: Excl. CCS | 1,769 | ||
Average | 372 | 375 | 382 | 395 | 419 | 454 | 497 | 530 | 584 | 636 | 677 | 992 | 1,283 | 1,562 | 1,825 | 1,788 | 1,767 | 382 | 497 | 677 | 1,825 | ||||||
-0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | |||||||
-0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | |||||||
19.3% | 19.2% | 21.3% | 21.3% | 20.6% | 17.9% | 22.6% | 22.5% | 21.5% | 21.8% | 21.2% | 22.9% | 21.3% | 20.1% | 22.7% | 21.7% | 15.0% | 13.9% | 15.8% | 17.6% | 12.8% | 14.8% | 20.3% | 20.9% | 21.9% | 21.5% | 15.5% |
HydraSpecma | Q1-14 | Q2-14 | Q3-14 | Q4-14 | Q1-15 | Q2-15 | Q3-15 | Q4-15 | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | ||||||||||||||||||||||||||||||||
Revenue | 134 | 147 | 147 | 138 | 148 | 151 | 148 | 156 | 453 | 466 | 388 | 440 | 476 | 457 | 409 | 464 | 499 | 550 | 454 | 502 | 556 | 565 | 494 | 509 | 533 | 458 | 566 | 603 | 1,747 | 1,806 | 2,005 | 2,123 |
Gross profit | 43 | 47 | 47 | 41 | 48 | 50 | 50 | 58 | 115 | 116 | 101 | 112 | 133 | 121 | 107 | 109 | 131 | 135 | 112 | 127 | 141 | 141 | 125 | 124 | 137 | 110 | 177 | 206 | 444 | 471 | 505 | 532 |
EBITDA | 19 | 22 | 23 | 15 | 20 | 23 | 24 | 27 | 44 | 44 | 42 | 40 | 51 | 37 | 33 | 27 | 50 | 48 | 33 | 44 | 60 | 64 | 53 | 37 | 57 | 46 | 78 | 93 | 170 | 148 | 175 | 215 |
Depreciation/impairment | 5 | 4 | 5 | 4 | 3 | 4 | 3 | 4 | 14 | 14 | 15 | 16 | 15 | 15 | 15 | 15 | 15 | 15 | 14 | 15 | 19 | 19 | 20 | 21 | 21 | 21 | 18 | 15 | 59 | 60 | 58 | 79 |
Operating profit (EBIT) | 14 | 18 | 18 | 10 | 16 | 19 | 20 | 23 | 30 | 29 | 27 | 24 | 36 | 22 | 18 | 12 | 35 | 33 | 20 | 30 | 42 | 45 | 33 | 17 | 36 | 25 | 60 | 78 | 111 | 88 | 117 | 136 |
Profit from associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 1 |
Gains on equity divestments | 0 | 0 | ||||||||||||||||||||||||||||||
Financial items, net | (1) | (1) | 2 | 0 | 3 | (2) | (1) | 0 | (3) | (1) | (3) | (1) | (4) | (8) | (5) | (4) | (3) | (3) | (9) | (1) | 1 | (10) | (4) | (10) | (7) | (14) | 1 | (0) | (8) | (21) | (16) | (23) |
Profit before tax | 13 | 17 | 20 | 11 | 19 | 17 | 20 | 23 | 27 | 29 | 25 | 23 | 31 | 15 | 13 | 8 | 32 | 31 | 10 | 29 | 43 | 35 | 30 | 7 | 29 | 11 | 61 | 78 | 103 | 67 | 102 | 114 |
Tax on profit | (3) | (4) | (5) | (3) | (4) | (4) | (5) | (5) | (6) | (6) | (5) | (6) | (7) | (4) | (2) | (4) | (8) | (7) | (3) | (12) | (8) | (7) | (7) | (3) | (7) | (3) | (15) | (18) | (22) | (17) | (29) | (25) |
Profit before non-controlling interests | 10 | 13 | 15 | 8 | 14 | 13 | 15 | 18 | 21 | 23 | 20 | 17 | 24 | 11 | 10 | 4 | 25 | 24 | 8 | 17 | 34 | 28 | 22 | 4 | 23 | 8 | 46 | 60 | 81 | 50 | 73 | 89 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0) | (1) | (0) | 0 | 0 | 1 | 0 | (1) | (0) | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) | 1 | (1) | (1) |
Profit | 10 | 13 | 15 | 8 | 14 | 13 | 15 | 18 | 21 | 22 | 20 | 17 | 25 | 12 | 11 | 3 | 24 | 24 | 8 | 16 | 34 | 28 | 22 | 4 | 23 | 9 | 46 | 60 | 79 | 51 | 72 | 88 |
CASH FLOW | ||||||||||||||||||||||||||||||||
Cash flows from operating activities | 22 | (12) | 9 | 40 | 44 | (5) | 28 | (0) | 9 | 31 | 25 | 62 | 6 | 26 | (6) | (38) | (14) | (3) | 1 | 26 | 28 | 14 | 72 | 62 | 28 | 86 | 60 | 67 | 128 | (11) | 10 | 177 |
Cash flows from investing activities | (2) | (2) | (2) | 2 | (2) | (3) | (2) | (3) | (488) | (15) | (19) | (24) | (8) | (8) | (11) | (17) | (9) | (24) | (20) | (32) | (20) | (6) | (15) | (36) | (21) | (17) | (4) | (10) | (545) | (44) | (85) | (77) |
Cash flows from financing activities | (47) | 17 | (8) | (34) | (53) | 4 | (27) | 5 | 534 | (33) | (11) | (44) | (0) | 1 | 8 | 33 | 25 | 41 | 15 | 0 | (5) | (6) | (58) | (32) | 4 | (62) | (72) | (71) | 446 | 43 | 81 | (101) |
BALANCE SHEET | ||||||||||||||||||||||||||||||||
Intangible assets | 19 | 18 | 17 | 13 | 13 | 12 | 12 | 12 | 339 | 327 | 316 | 316 | 313 | 304 | 299 | 289 | 274 | 265 | 263 | 260 | 253 | 245 | 239 | 255 | 238 | 244 | 13 | 12 | 316 | 289 | 260 | 255 |
Property, plant and equipment | 103 | 101 | 100 | 97 | 96 | 96 | 95 | 94 | 168 | 171 | 179 | 192 | 189 | 186 | 186 | 192 | 189 | 202 | 214 | 234 | 241 | 242 | 244 | 256 | 260 | 270 | 97 | 94 | 192 | 192 | 234 | 256 |
Other non-current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 5 | 7 | 8 | 8 | 10 | 9 | 10 | 11 | 11 | 6 | 119 | 135 | 129 | 124 | 123 | 122 | 0 | 0 | 7 | 9 | 6 | 124 |
Cash and cash equivalents | 12 | 15 | 14 | 22 | 12 | 8 | 6 | 8 | 62 | 45 | 77 | 36 | 103 | 96 | 88 | 23 | 59 | 71 | 58 | 29 | 54 | 57 | 62 | 28 | 53 | 63 | 22 | 8 | 36 | 23 | 29 | 28 |
Other current assets | 261 | 286 | 296 | 259 | 269 | 282 | 279 | 296 | 768 | 791 | 745 | 806 | 805 | 798 | 819 | 899 | 920 | 986 | 978 | 1,012 | 1,048 | 1,070 | 1,024 | 1,028 | 1,009 | 989 | 259 | 296 | 806 | 899 | 1,012 | 1,028 |
AKTIVER I ALT | 395 | 420 | 427 | 391 | 390 | 398 | 392 | 409 | 1,341 | 1,339 | 1,321 | 1,356 | 1,417 | 1,392 | 1,402 | 1,412 | 1,452 | 1,535 | 1,524 | 1,541 | 1,715 | 1,749 | 1,697 | 1,691 | 1,681 | 1,688 | 391 | 409 | 1,356 | 1,412 | 1,541 | 1,691 |
Equity | 152 | 164 | 180 | 188 | 163 | 176 | 191 | 212 | 367 | 376 | 386 | 407 | 434 | 437 | 447 | 440 | 447 | 439 | 451 | 470 | 476 | 496 | 512 | 530 | 500 | 530 | 188 | 212 | 407 | 440 | 470 | 530 |
Interest-bearing debt | 143 | 160 | 152 | 118 | 122 | 115 | 87 | 87 | 614 | 603 | 600 | 594 | 604 | 585 | 599 | 616 | 632 | 694 | 703 | 708 | 827 | 843 | 793 | 771 | 786 | 750 | 118 | 87 | 594 | 616 | 708 | 771 |
Other creditors | 100 | 96 | 95 | 85 | 104 | 106 | 115 | 110 | 360 | 360 | 335 | 355 | 380 | 370 | 357 | 356 | 372 | 402 | 370 | 363 | 412 | 411 | 392 | 390 | 395 | 408 | 85 | 110 | 355 | 356 | 363 | 390 |
Total liabilities and equity | 395 | 420 | 427 | 391 | 390 | 398 | 392 | 409 | 1,341 | 1,339 | 1,321 | 1,356 | 1,417 | 1,392 | 1,402 | 1,412 | 1,452 | 1,535 | 1,524 | 1,541 | 1,715 | 1,749 | 1,697 | 1,691 | 1,681 | 1,688 | 391 | 409 | 1,356 | 1,412 | 1,541 | 1,691 |
Average number of employees | 216 | 220 | 228 | 243 | 243 | 237 | 238 | 247 | 804 | 1,012 | 1,017 | 1,062 | 1,092 | 1,132 | 1,166 | 1,198 | 1,200 | 1,210 | 1,233 | 1,233 | 1,208 | 1,220 | 1,235 | 1,220 | 1,192 | 1,176 | 230 | 241 | 1,020 | 1,147 | 1,219 | 1,221 |
FINANCIAL KEY FIGURES | ||||||||||||||||||||||||||||||||
EBITDA margin | 13.9% | 15.1% | 15.4% | 10.7% | 13.2% | 15.2% | 16.0% | 17.3% | 9.8% | 9.3% | 10.8% | 9.1% | 10.6% | 8.1% | 8.1% | 5.9% | 9,9% | 8,7% | 7,3% | 8.9% | 10.9% | 11.4% | 10.8% | 7.3% | 10.8% | 10.0% | 13.8% | 15.5% | 9.7% | 8.2% | 8.7% | 10.1% |
EBIT margin | 10.5% | 12.0% | 12.3% | 7.5% | 10.9% | 12.6% | 13.7% | 14.5% | 6.6% | 6.3% | 7.1% | 5.5% | 7.4% | 4.8% | 4.4% | 2.7% | 7,0% | 6,1% | 4,3% | 5.9% | 7.5% | 7.9% | 6.7% | 3.3% | 6.8% | 5.4% | 10.6% | 12.9% | 6.3% | 4.9% | 5.9% | 6.4% |
ROIC excl. goodwill | 21.1% | 22.3% | 22.4% | 22.6% | 23.3% | 23.8% | 25.2% | 28.9% | 23.6% | 20.6% | 18.2% | 16.1% | 16.8% | 15.9% | 14.7% | 13.0% | 12,7% | 13,4% | 13,0% | 14.3% | 14.1% | 14.4% | 15.1% | 13.5% | 13.1% | 11.6% | 22.6% | 28.9% | 16.1% | 13.0% | 14.3% | 13.5% |
ROIC incl. goodwill | 21.1% | 22.3% | 22.4% | 22.6% | 23.3% | 23.8% | 25.2% | 28.9% | 21.7% | 18.1% | 15.6% | 13.6% | 14.2% | 13.5% | 12.5% | 11.1% | 10,8% | 11,5% | 11,3% | 12.5% | 12.4% | 12.7% | 13.4% | 12.0% | 11.7% | 10.3% | 22.6% | 28.9% | 13.6% | 11.1% | 12.5% | 12.0% |
Working capital | 162 | 195 | 211 | 187 | 161 | 188 | 184 | 202 | 491 | 491 | 497 | 463 | 491 | 495 | 531 | 566 | 605 | 644 | 669 | 678 | 687 | 715 | 689 | 665 | 662 | 632 | 187 | 202 | 463 | 566 | 678 | 665 |
Net interest-bearing debt | 131 | 145 | 138 | 96 | 93 | 101 | 76 | 77 | 551 | 531 | 524 | 497 | 500 | 489 | 511 | 554 | 573 | 623 | 645 | 652 | 773 | 786 | 732 | 718 | 733 | 687 | 96 | 77 | 497 | 554 | 652 | 718 |
Calculation of ROIC: | ||||||||||||||||||||||||||||||||
EBITA (LTM) | 61 | 66 | 67 | 68 | 69 | 69 | 71 | 82 | 101 | 115 | 127 | 133 | 138 | 131 | 122 | 110 | 110 | 121 | 122 | 139 | 144 | 155 | 168 | 155 | 150 | 130 | 68 | 82 | 133 | 110 | 139 | 155 |
Average investered capital excl. goodwill | 291 | 294 | 300 | 300 | 297 | 292 | 282 | 284 | 426 | 560 | 697 | 824 | 823 | 822 | 827 | 847 | 868 | 901 | 935 | 968 | 1,024 | 1,080 | 1,117 | 1,147 | 1,142 | 1,123 | 300 | 284 | 824 | 847 | 968 | 1,147 |
Average investered capital incl. goodwill | 291 | 294 | 300 | 300 | 297 | 292 | 282 | 284 | 464 | 636 | 811 | 976 | 974 | 973 | 978 | 997 | 1,015 | 1,047 | 1,078 | 1,110 | 1,166 | 1,221 | 1,257 | 1,287 | 1,280 | 1,261 | 300 | 284 | 976 | 997 | 1,110 | 1,287 |
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 296 | 298 | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 831 | 826 | 831 | 807 | 827 | 821 | 853 | 886 | 911 | 955 | 988 | 1,016 | 1,138 | 1,176 | 1,138 | 279 | 264 | 831 | 827 | 911 | 1,138 |
Invested capital 6 months ago | 298 | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 831 | 826 | 831 | 807 | 827 | 821 | 853 | 886 | 911 | 955 | 988 | 1,016 | 1,138 | 1,176 | 1,138 | 1,134 | 309 | 289 | 826 | 821 | 955 | 1,176 |
Invested capital 3 months ago | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 831 | 826 | 831 | 807 | 827 | 821 | 853 | 886 | 911 | 955 | 988 | 1,016 | 1,138 | 1,176 | 1,138 | 1,134 | 1,120 | 322 | 283 | 831 | 853 | 988 | 1,138 |
Invested capital current period | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 831 | 826 | 831 | 807 | 827 | 821 | 853 | 886 | 911 | 955 | 988 | 1,016 | 1,138 | 1,176 | 1,138 | 1,134 | 1,120 | 1,101 | 292 | 300 | 807 | 886 | 1,016 | 1,134 |
Average | 291 | 294 | 300 | 300 | 297 | 292 | 282 | 284 | 426 | 560 | 697 | 824 | 823 | 822 | 827 | 847 | 868 | 901 | 935 | 968 | 1,024 | 1,080 | 1,117 | 1,147 | 1,142 | 1,123 | 300 | 284 | 824 | 847 | 968 | 1,147 |
Average investered capital incl. goodwill is calculated as such: | ||||||||||||||||||||||||||||||||
Invested capital 9 months ago | 296 | 298 | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 986 | 977 | 980 | 959 | 980 | 971 | 1,003 | 1,034 | 1,054 | 1,096 | 1,130 | 1,159 | 1,280 | 1,315 | 1,276 | 279 | 264 | 986 | 980 | 1,054 | 1,280 |
Invested capital 6 months ago | 298 | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 986 | 977 | 980 | 959 | 980 | 971 | 1,003 | 1,034 | 1,054 | 1,096 | 1,130 | 1,159 | 1,280 | 1,315 | 1,276 | 1,276 | 309 | 289 | 977 | 971 | 1,096 | 1,315 |
Invested capital 3 months ago | 292 | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 986 | 977 | 980 | 959 | 980 | 971 | 1,003 | 1,034 | 1,054 | 1,096 | 1,130 | 1,159 | 1,280 | 1,315 | 1,276 | 1,276 | 1,254 | 322 | 283 | 980 | 1,003 | 1,130 | 1,276 |
Invested capital current period | 279 | 309 | 322 | 292 | 264 | 289 | 283 | 300 | 986 | 977 | 980 | 959 | 980 | 971 | 1,003 | 1,034 | 1,054 | 1,096 | 1,130 | 1,159 | 1,280 | 1,315 | 1,276 | 1,276 | 1,254 | 1,240 | 292 | 300 | 959 | 1,034 | 1,159 | 1,276 |
Average | 291 | 294 | 300 | 300 | 297 | 292 | 282 | 284 | 464 | 636 | 811 | 976 | 974 | 973 | 978 | 997 | 1,015 | 1,047 | 1,078 | 1,110 | 1,166 | 1,221 | 1,257 | 1,287 | 1,280 | 1,261 | 300 | 284 | 976 | 997 | 1,110 | 1,287 |
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | |
32.1% | 31.8% | 31.6% | 29.5% | 32.0% | 33.4% | 33.9% | 37.3% | 25.4% | 24.8% | 26.1% | 25.5% | 27.9% | 26.6% | 26.3% | 23.4% | 26.2% | 24.6% | 24.7% | 25.3% | 25.4% | 25.0% | 25.3% | 24.4% | 25.6% | 24.0% | 31.3% | 34.2% | 25.4% | 26.1% | 25.2% | 25.1% |
Before Schouw & Co´s acquisation of Borg | ||||||||||||||||||||||
Borg | Q1-16 | Q2-16 | Q3-16 | Q4-16 | Q1-17 | Q2-17 | Q3-17 | Q4-17 | Q1-18 | Q2-18 | Q3-18 | Q4-18 | Q1-19 | Q2-19 | Q3-19 | Q4-19 | Q1-20 | Q2-20 | 2016 | 2017 | 2018 | 2019 |
INCOME STATEMENT | ||||||||||||||||||||||
Revenue | 220 | 225 | 246 | 219 | 237 | 248 | 237 | 224 | 242 | 268 | 231 | 217 | 230 | 232 | 258 | 198 | 232 | 173 | 910 | 946 | 958 | 918 |
Gross profit | 62 | 65 | 65 | 60 | 68 | 33 | 60 | 66 | 72 | 79 | 60 | 29 | 62 | 51 | 59 | 30 | 51 | 28 | 252 | 226 | 240 | 201 |
EBITDA | 32 | 36 | 37 | 34 | 12 | 13 | 36 | 41 | 38 | 41 | 22 | 30 | 33 | 21 | 32 | 24 | 24 | 11 | 138 | 102 | 131 | 110 |
Depreciation/impairment | 3 | 3 | 3 | 3 | 3 | 8 | 9 | 8 | 9 | 9 | 9 | 8 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 29 | 35 | 48 |
Operating profit (EBIT) | 28 | 33 | 34 | 31 | 9 | 5 | 27 | 32 | 29 | 33 | 13 | 21 | 21 | 9 | 21 | 12 | 12 | -1 | 126 | 73 | 96 | 62 |
Profit from associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gains on equity divestments | 0 | 0 | ||||||||||||||||||||
Financial items, net | (6) | (5) | (1) | (2) | 2 | (1) | (3) | 4 | (1) | (4) | (1) | (1) | 0 | 0 | -4 | 3 | -5 | 0 | -14 | 2 | -7 | -1 |
Profit before tax | 22 | 28 | 34 | 29 | 11 | 4 | 24 | 36 | 28 | 28 | 12 | 20 | 21 | 9 | 17 | 15 | 7 | -1 | 112 | 75 | 89 | 62 |
Tax on profit | (6) | 25 | (6) | (13) | 3 | (2) | (4) | (8) | (5) | (5) | (3) | (8) | (4) | (1) | -3 | -10 | -1 | 0 | -1 | -10 | -22 | -18 |
Profit before non-controlling interests | 16 | 53 | 28 | 15 | 14 | 2 | 20 | 29 | 23 | 24 | 9 | 12 | 17 | 7 | 13 | 6 | 6 | -1 | 112 | 65 | 67 | 43 |
Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit | 16 | 53 | 28 | 15 | 14 | 2 | 20 | 29 | 23 | 24 | 9 | 12 | 17 | 7 | 13 | 6 | 6 | -1 | 112 | 65 | 67 | 43 |
CASH FLOW | ||||||||||||||||||||||
Cash flows from operating activities | 2 | 27 | 53 | 43 | (44) | 16 | 75 | (20) | (38) | 90 | 89 | 8 | (12) | 0 | 38 | 59 | 7 | 75 | 124 | 28 | 149 | 85 |
Cash flows from investing activities | (2) | (9) | (3) | (1) | 2 | (190) | (5) | 174 | (5) | (2) | (6) | (28) | (8) | (6) | -2 | -11 | -3 | -2 | -15 | -19 | -41 | -27 |
Cash flows from financing activities | (3) | (17) | (47) | (5) | 14 | 174 | (54) | (182) | 51 | (73) | (103) | 11 | 25 | 6 | -40 | -51 | 7 | -73 | -72 | -48 | -114 | -60 |
BALANCE SHEET | ||||||||||||||||||||||
Intangible assets | 376 | 369 | 354 | 348 | 341 | 336 | 345 | 341 | 334 | 327 | 323 | 316 | 309 | 20 | 354 | 345 | 323 | |||||
Property, plant and equipment | 70 | 71 | 73 | 76 | 74 | 77 | 91 | 88 | 91 | 90 | 97 | 92 | 93 | 62 | 73 | 91 | 97 | |||||
Other non-current assets | 54 | 59 | 57 | 56 | 63 | 65 | 56 | 94 | 97 | 91 | 88 | 87 | 83 | 46 | 57 | 56 | 88 | |||||
Cash and cash equivalents | 21 | 37 | 11 | 18 | 42 | 63 | 5 | 33 | 54 | 54 | 3 | 17 | 46 | 49 | 11 | 5 | 3 | |||||
Other current assets | 558 | 505 | 490 | 562 | 510 | 466 | 553 | 540 | 549 | 531 | 594 | 493 | 427 | 423 | 490 | 553 | 594 | |||||
AKTIVER I ALT | 1,079 | 1,041 | 985 | 1,060 | 1,029 | 1,007 | 1,050 | 1,096 | 1,124 | 1,093 | 1,105 | 1,005 | 959 | 599 | 985 | 1,050 | 1,105 | |||||
Equity | 413 | 430 | 456 | 477 | 393 | 407 | 598 | 548 | 560 | 561 | 579 | 499 | 508 | 252 | 456 | 598 | 579 | |||||
Interest-bearing debt | 210 | 155 | 155 | 206 | 242 | 180 | 25 | 109 | 134 | 101 | 91 | 75 | 32 | 23 | 155 | 25 | 91 | |||||
Other creditors | 456 | 456 | 374 | 377 | 395 | 420 | 427 | 439 | 430 | 431 | 435 | 432 | 419 | 324 | 374 | 427 | 435 | |||||
Total liabilities and equity | 1,079 | 1,041 | 985 | 1,060 | 1,029 | 1,007 | 1,050 | 1,096 | 1,124 | 1,093 | 1,105 | 1,005 | 959 | 599 | 985 | 1,050 | 1,105 | |||||
Average number of employees | 1,195 | 1,197 | 1,276 | 1,355 | 1,402 | 1,433 | 1,476 | 1,524 | 1,560 | 1,545 | 1,584 | 1,643 | 1,675 | 1,644 | 1,588 | 1,551 | 1,529 | 1,482 | 1,256 | 1,458 | 1,599 | 1,615 |
FINANCIAL KEY FIGURES | ||||||||||||||||||||||
EBITDA margin | 14.4% | 15.9% | 15.1% | 15.4% | 5.1% | 5.3% | 15.0% | 18.2% | 15,6% | 15.4% | 9.5% | 13.6% | 14.3% | 8.9% | 12.5% | 12.3% | 10.4% | 6.3% | 15.2% | 10.7% | 13.6% | 12.0% |
EBIT margin | 12.8% | 14.7% | 14.0% | 14.1% | 3.9% | 1.8% | 11.3% | 14.4% | 12,0% | 12.1% | 5.7% | 9.8% | 9.2% | 3.7% | 8.0% | 6.1% | 5.2% | -0.5% | 13.9% | 7.7% | 10.0% | 6.8% |
ROIC excl. goodwill | 23.3% | 24,2% | 23.9% | 22.0% | 20.7% | 19.7% | 15.4% | 16.2% | 14.9% | 13.8% | 13.1% | 23.3% | 20.7% | 14.9% | ||||||||
ROIC incl. goodwill | 12.7% | 13,3% | 13.0% | 11.9% | 11.1% | 10.4% | 8.3% | 8.8% | 8.2% | 7.5% | 6.9% | 12.7% | 11.1% | 8.2% | ||||||||
Working capital | 220 | 174 | 200 | 259 | 198 | 132 | 141 | 183 | 218 | 184 | 156 | 140 | 86 | 179 | 200 | 141 | 156 | |||||
Net interest-bearing debt | 189 | 118 | 144 | 188 | 200 | 117 | (42) | 76 | 80 | 47 | 2 | 58 | -15 | -25 | 144 | -42 | 2 | |||||
Calculation of ROIC: | ||||||||||||||||||||||
EBITA (LTM) |
144 Thomas Dyhr Dalby: Annualised |
153 Thomas Dyhr Dalby: Annualised | 148 | 133 | 123 | 115 | 92 | 99 | 93 | 84 | 74 |
144 Thomas Dyhr Dalby: Annualised | Thomas Dyhr Dalby: Annualised | Thomas Dyhr Dalby: Annualised | 123 | 93 | ||||||
Average investered capital excl. goodwill | 617 | 631 | 621 | 607 | 593 | 582 | 594 | 615 | 622 | 605 | 568 | 617 | 593 | 622 | ||||||||
Average investered capital incl. goodwill | 1,133 | 1,147 | 1,136 | 1,122 | 1,109 | 1,098 | 1,110 | 1,131 | 1,137 | 1,121 | 1,083 | 1,133 | 1,109 | 1,137 | ||||||||
Average investered capital excl. goodwill is calculated as such: | ||||||||||||||||||||||
Invested capital 9 months ago | 643 | 590 | 618 | 673 | 602 | 534 | 566 | 627 | 649 | 617 | 673 | 627 | ||||||||||
Invested capital 6 months ago | 643 | 590 | 618 | 673 | 602 | 534 | 566 | 627 | 649 | 617 | 593 | 643 | 602 | 649 | ||||||||
Invested capital 3 months ago | 643 | 590 | 618 | 673 | 602 | 534 | 566 | 627 | 649 | 617 | 593 | 562 | 590 | 534 | 617 | |||||||
Invested capital current period | 643 | 590 | 618 | 673 | 602 | 534 | 566 | 627 | 649 | 617 | 593 | 562 | 498 | 618 | 566 | 593 | ||||||
Average | 617 | 631 | 621 | 607 | 593 | 582 | 594 | 615 | 622 | 605 | 568 | 617 | 593 | 622 | ||||||||
Average investered capital incl. goodwill is calculated as such *: | ||||||||||||||||||||||
Invested capital 9 months ago | 1,159 | 1,106 | 1,134 | 1,188 | 1,118 | 1,050 | 1,081 | 1,143 | 1,165 | 1,133 | 1,188 | 1,143 | ||||||||||
Invested capital 6 months ago | 1,159 | 1,106 | 1,134 | 1,188 | 1,118 | 1,050 | 1,081 | 1,143 | 1,165 | 1,133 | 1,109 | 1,159 | 1,118 | 1,165 | ||||||||
Invested capital 3 months ago | 1,159 | 1,106 | 1,134 | 1,188 | 1,118 | 1,050 | 1,081 | 1,143 | 1,165 | 1,133 | 1,109 | 1,078 | 1,106 | 1,050 | 1,133 | |||||||
Invested capital current period | 1,159 | 1,106 | 1,134 | 1,188 | 1,118 | 1,050 | 1,081 | 1,143 | 1,165 | 1,133 | 1,109 | 1,078 | 1,014 | 1,134 | 1,081 | 1,109 | ||||||
Average | 1,133 | 1,147 | 1,136 | 1,122 | 1,109 | 1,098 | 1,110 | 1,131 | 1,137 | 1,121 | 1,083 | 1,133 | 1,109 | 1,137 | ||||||||
*) Includes also goodwill in Schouw & Co. in the amount of 515,8 million dkk. | ||||||||||||||||||||||
0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | |||||||||
-0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.0% | -0.0% | -0.0% | 0.0% | -0.0% | |||||||||
28.2% | 29.0% | 26.2% | 27.2% | 28.6% | 13.3% | 25.3% | 29.3% | 29.7% | 29.6% | 25.9% | 13.3% | 27.0% | 22.0% | 22.9% | 15.2% | 22.0% | 16.2% | 23.9% | 25.1% | 21.9% |