Huber+Suhner : APM half-year 2022

2022

Half-year Report

Alternative

Performance

Measures

Definition of Alternative Performance Measures

HUBER+SUHNER uses alternative performance measures as guidance parameters for both internal and external reporting to stakeholders. HUBER+SUHNER uses the following definitions, which may differ from the one other companies use.

This document has been prepared in conformity with the Directive on the Use of Alternative Performance Measures issued by SIX Exchange Regulation Ltd.

Organic sales development

The organic sales development is calculated by adjusting the reported net sales for the impact of currency effects, copper price effects as well as portfolio effects (acquisitions and disposals). When determining the currency effects, the functional currency that is valid in the respective country is used.

Order intake

A new order is recognised as an order intake only when the contract creates enforceable obligations between the Group and its customer. When this condition is met, the order is recognised at the contract value.

Book-to-bill

The book-to-bill is the ratio of total order intake third to total net sales third.

Order backlog

The order backlog represents the amount of booked orders not yet delivered/invoiced at a closing date. The order backlog is calculated as follows:

• order backlog at the beginning of the year;
• plus order intake during the reporting period;
• less cancellations of orders recorded;
• less sales recognised during the reporting period.

EBIT

EBIT is calculated by subtracting cost of goods sold and operating expenses from net sales.

	January-June	January-June
	2022	2021
Net sales	477.4	424.4
Cost of goods sold	(302.9)	(255.9)
Gross profit	174.5	168.5
Selling & administrative expense/
Research & development expense	(121.6)	(116.5)
Other operating expense / income	1.1	(0.3)
EBIT (= operating profit)	54.0	51.7

All amounts are in CHF million

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EBITDA

The EBITDA corresponds to the operating profit (EBIT) before depreciation of property, plant and equipment and amortisation of intangible assets.

	January-June	January-June
	2022	2021
EBIT (= operating profit)	54.0	51.7
Depreciation of property, plant and equipment	13.5	13.0
Amortisation of intangible assets	1.8	4.6
EBITDA	69.3	69.3

Free operating cash flow

Free operating cash flow is defined as cash flow from operating activities less cash flow from investing activities.

	January-June	January-June
	2022	2021
Cash flow from operating activities	31.3	43.2
Cash flow from investing activities	(25.6)	(17.0)
Free operating cash flow	5.7	26.2

Free cash flow

	January-June	January-June
	2022	2021
Free operating cash flow	5.7	26.2
Payment of dividend	(38.2)	(25.3)
Payment of dividend to minority interests	-	(0.5)
Purchase of treasury shares	(40.6)	(3.6)
Free cash flow	(73.2)	(3.3)

Net liquidity

	30.06.2022	30.06.2021
Cash and cash equivalents	145.8	202.7
Short-term financial liabilities	-	(0.3)
Long-term financial liabilities	-	-
Net liquidity	145.8	202.4

Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided. All ratios and deltas are calculated using the underlying amount rather than the presented rounded amount.

All amounts are in CHF million

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