Five-year Overview

Operating Performance 2009 - 2013

(in CHF million)  2009 2010 2011 2012
(restated)*
2013
Net revenue 736.4 738 694 686.3 679.9
   Growth in % -5.4 0.2 -6 -1.1 -0.9
Gross profit 586.8 587 529 531.5 535.9
   Margin in % 79.7 79.6 76.2 77.5 78.8
Operating result before depreciation and amortization (EBITDA) 218.3 212 157 117.4 148.4
   Margin in % 29.6 28.7 22.7 17.1 21.8
   Growth in % -20.3 -2.9 -25.7 -25.4 24.3
Operating result before amortization (EBITA) 187.9 185 132 89.5 122.6
   Margin in % 25.5 25.1 19 13 18
   Growth in % -21.9 -1.6 -28.7 -32.1 33.9
Operating profit (EBIT) 165.3 164 79.9 61 115.8
   Margin in % 22.5 22.3 11.5 8.9 17
   Growth in % 309.2 -0.6 -51.4 -23.7 83.6
Net profit 146.4 131 71 36.4 101.2
   Margin in % 19.9 17.8 10.2 5.3 14.9
   Growth in % 1693 -10.4 -45.9 -48.6 169.8
Basic earnings per share (in CHF) 9.38 8.37 4.54 2.36 6.55
Value added  / economic profit 96.1 88.4 29.7 -12.5 52.7
   Change in value added 144.1 -7.6 -58.7 -42.2 60.4
   Change in value added in % 300.2 -8 -66.4 -142 785.3
   in % of net revenue 13 12 4.3 -1.8 7.8
Number of employees (year-end) 2 170 2 361 2 452 2'517 2'217
Number of employees (average) 2 162 2 287 2 415 2'530 2'308
Sales per employee (average) in CHF 1 000 341 323 287 271 295

Financial Performance 2009 - 2013

(in CHF million)  2009 2010 2011 2012
(restated)*
2013
Cash and cash equivalents  261.6  349.6  377.1  140.5 383.8
Net working capital (net of cash)  60.8  74.5  68.8  63.0 57.3
   in % of revenue  8.2  10.1  9.9  9.2 8.4
Inventories  71.5  73.1  67.0  63.6 62.3
   Days of supplies  159  158  123  152 161
Trade receivables  95.4  92.3  94.1  91.8 93.2
   47  45  48  49 49
Balance sheet total  802.9  853.9  811.3  772.6 1 019.7
   Return on assets in % (ROA)  19.1  15.8  8.5  4.6 11.4
Equity  635.4  695.6  671.1  631.2 631.4
   Equity ratio in %  79.1  81.5  82.7  81.7 61.9
   Return on equity in % (ROE)  25.0  19.7  10.4  5.6 16.4
Capital employed   363.7  337.7  273.1  221.7 162.3
   Return on capital employed in % (ROCE)  42.5  46.9  26.2  24.7 66.2
Cash generated from operating activities  245.1  175.8  140.2  114.6 151.5
   in % of revenue  33.2  23.8  20.2  16.7 22.3
Investments -38.2 -22.9 -25.9 -286 -50.6
   in % of revenue  5.2  3.1  3.7  41.7 7.4
   thereof capital expenditures -31.4 -22.1 -19.4 -19.4 -12.6
   thereof business combinations related -6.9 -0.7 -0.4 -0.7  
   thereof investments in associates     -6.1 -266 -38
Free cash flow  214.7  154.2  121.1  95.2 139.2
   in % of revenue  29.1  20.9  17.5  13.9 20.5
Dividend (2012: subject to shareholders' approval)  58.7  58.8  58.0  57.9 58.2
Pay-out ratio in % (excluding exceptionals)  40.1  44.8  59.4  76.8 53.3

* IAS 19 restated