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TEN-YEAR REVIEW
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(x € 1,000) 7) As per 2004 on IFRS basis
| |
2007 |
2006 |
2005 |
2004 |
2003 |
| Results |
|
|
|
|
|
| Net sales |
2,065,686 |
1,661,175 |
1,545,506 |
1,443,911 |
1,355,941 |
| Operating profit |
95,824 |
90,353 |
74,066 |
88,211 |
73,306 |
| Profit after tax |
74,177 |
62,079 |
50,875 |
58,599 |
44,794 |
| Cash flow from operating activities |
83,097 |
78,505 |
48,312 |
67,839 |
62,743 |
| Proposed dividend |
28,027 |
24,389 |
21,004 |
20,617 |
18,089 |
| Financial position |
|
|
|
|
|
| Group equity 1) |
374,775 |
312,837 |
265,498 |
223,293 |
172,668 |
| Net capital employed 2) |
661,652 |
584,465 |
414,271 |
377,680 |
286,338 |
| Balance sheet total |
857,973 |
719,266 |
534,530 |
534,196 |
401,720 |
| Employees |
|
|
|
|
|
| Year average (full-time equivalents) |
5,083 |
3,662 |
3,521 |
2,984 |
2,746 |
| Staff costs 3) |
170,598 |
127,213 |
113,951 |
101,627 |
90,717 |
| Capital expenditure |
|
|
|
|
|
| Net capital expenditure 4) |
81,515 |
32,239 |
36,465 |
26,080 |
31,667 |
| Depreciation |
33,829 |
25,740 |
24,319 |
20,289 |
20,249 |
| Ratios |
|
|
|
|
|
| Increase in revenue (%) |
24.4 |
7.5 |
7.0 |
6.5 |
4.4 |
| Increase in profit after tax (%) |
19.5 |
22.0 |
(13,2) |
30.8 |
21.0 |
| Gross margin as % of revenue |
22.9 |
21.6 |
20.2 |
19.7 |
18.6 |
| Operating profit as % of revenue |
4.6 |
5.4 |
4.8 |
6.1 |
5.4 |
| Profit after tax as % of revenue |
3.6 |
3.7 |
3.3 |
4.1 |
3.3 |
| Return on average group equity 5) |
21.6 |
21.5 |
20.8 |
29.4 |
29.4 |
| Operating profit as % of average net capital employed |
15.4 |
18.1 |
17.9 |
23.3 |
26.1 |
| Group equity as % of balance sheet total |
43.7 |
43.5 |
49.7 |
41.8 |
43.0 |
| Revenue per employee (FTE) |
406 |
454 |
439 |
484 |
494 |
| Staff costs per employee (FTE) |
33.6 |
34.7 |
32.1 |
34.1 |
33.0 |
| Figures per € 0.06 share 6) |
(in euros) |
|
|
|
|
| Shares in issue (x 1,000) |
43,118 |
42,408 |
42,008 |
41,234 |
40,198 |
| Group equity |
8.69 |
7.37 |
6.32 |
5.42 |
4.30 |
| Net earnings |
1.72 |
1.46 |
1.21 |
1.42 |
1.12 |
| Cash flow |
2.63 |
2.14 |
1.84 |
1.96 |
1.74 |
| Proposed dividend |
0.65 |
0.57 |
0.50 |
0.50 |
0.45 |
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|
|
|
|
|
|
| |
2002 |
2001 |
2000 |
1999 |
1998 |
| Result |
|
|
|
|
|
| Net sales |
1,299,028 |
1,171,940 |
781,899 |
733,592 |
657,955 |
| Operating profit |
65,482 |
45,144 |
30,552 |
30,031 |
24,177 |
| Profit after tax |
37,024 |
25,270 |
18,503 |
17,504 |
13,689 |
| Cash flow from operating activities |
74,219 |
50,640 |
17,432 |
19,198 |
15,887 |
| Proposed dividend |
14,631 |
9,979 |
7,383 |
7,224 |
5,445 |
| Financial position |
|
|
|
|
|
| Shareholders' equity 1) |
132,182 |
96,168 |
71,646 |
54,488 |
47,835 |
| Net capital employed 2) |
275,449 |
226,499 |
154,132 |
125,834 |
109,526 |
| Balance sheet total |
387,107 |
308,856 |
201,388 |
179,137 |
166,120 |
| Employees |
|
|
|
|
|
| Year average (full-time equivalents) |
2,561 |
2,129 |
1,769 |
1,680 |
1,575 |
| Staff costs 3) |
84,080 |
72,229 |
53,844 |
49,049 |
45,075 |
| Capital expenditure |
|
|
|
|
|
| Net capital expenditure 4) |
27,089 |
7,150 |
19,367 |
20,332 |
18,248 |
| Depreciation 4) |
18,007 |
16,979 |
12,355 |
11,045 |
10,216 |
| Ratios |
|
|
|
|
|
| Increase in turnover (%) |
10.8 |
49.9 |
6.6 |
8.5 |
19.7 |
| Increase in profit after tax (%) |
46.5 |
36.6 |
5.7 |
27.9 |
20.6 |
| Gross margin as % of turnover |
17.8 |
15.7 |
17.1 |
16.9 |
16.5 |
| Operating profit as % of turnover |
5.0 |
3.9 |
3.9 |
4.1 |
3.6 |
| Net profit on ordinary activities as % of turnover |
2.8 |
2.2 |
2.4 |
2.4 |
2.0 |
| Return on average equity 5) |
32.4 |
30.1 |
29.3 |
34.2 |
31.9 |
| Operating profit as % of net capital employed (year-end) |
25.2 |
19.8 |
21.8 |
25.5 |
24.4 |
| Shareholders' equity as % of balance sheet total |
34.0 |
31.0 |
35.6 |
30.4 |
28.8 |
| Turnover per employee (full-time equivalents) |
507 |
550 |
442 |
437 |
429 |
| Staff costs per employee (full-time equivalents) |
32.8 |
33.9 |
30.4 |
29.2 |
28.6 |
| Figures per € 0.06 share 6) |
|
|
|
|
|
| Number of shares in issue (x 1,000) |
39,016 |
38,012 |
36,916 |
36,120 |
35,556 |
| Shareholders' equity |
3.39 |
2.53 |
1.94 |
1.51 |
1.35 |
| Profit after tax |
0.96 |
0.68 |
0.51 |
0.49 |
0.39 |
| Cash flow |
1.53 |
1.16 |
0.85 |
0.80 |
0.68 |
| Proposed dividend |
0.38 |
0.27 |
0.20 |
0.20 |
0.16 |
1) Before profit appropriation
2) Non-current assets plus working capital less short-term bank borrowings and credit balances and current portion of long-term debt
3) Salaries, social security charges and net benefit expense
4) Relating to property, plant and equipment and assets held for sale
5) Calculated on profit after tax
6) Prior-year figures restated for share splits in 2007, 2003 and 1998
7) Prior-year figures have not been restated for changes in accounting policies
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