Five-year Overview

Operating Performance 2011 - 2015

(in CHF million)  2011 2012 (restated)* 2013 2014 2015
Net revenue 694.0 686.3 679.9 710.3 798.6
   Growth in % (6.0) (1.1) (0.9) 4.5 12.4
Gross profit 529.0 531.5 535.9 558.7 614.9
   Margin in % 76.2 77.5 78.8 78.7 77.0
Operating result before depreciation and amortization (EBITDA) 157.0 117.4 148.4 176.2 207.6
   Margin in % 22.7 17.1 21.8 24.8 26.0
   Growth in % (25.7) (25.4) 24.3 18.7 17.8
Operating result before amortization (EBITA) 132.0 89.5 122.6 153.1 182.0
   Margin in % 19.0 13.0 18.0 21.5 22.8
   Growth in % (28.7) (32.1) 33.9 24.9 18.9
Operating profit (EBIT) 79.9 61.0 115.8 148.3 172.6
   Margin in % 11.5 8.9 17.0 20.9 21.6
   Growth in % (51.4) (23.7) 83.6 28.1 16.4
Net profit 71.0 36.4 101.2 157.8 71.5
   Margin in % 10.2 5.3 14.9 22.2 9.0
   Growth in % (45.9) (48.6) 169.8 56.0 (54.7)
Basic earnings per share (in CHF) 4.54 2.36 6.55 10.15 4.52
Value added  / economic profit 29.7 (12.5) 52.7 113.7 27.1
   Change in value added (58.7) (42.2) 60.4 59.3 (86.6)
   Change in value added in % (66.4) (142.0) 785.3 109.2 (76.2)
   in % of net revenue 4.3 (1.8) 7.8 16.0 3.4
Number of employees (year-end) 2'452 2'517 2'217 2'387 3'471
Number of employees (average) 2'415 2'530 2'308 2'355 3'232
Sales per employee (average) in CHF 1 000 287 271 295 308 247

Financial Performance 2011 - 2015

(in CHF million) 2011 2012
(restated)*
2013 2014 2015
Cash and cash equivalents 377.1 140.5 383.8 459.4 318.3
Net working capital (net of cash) 68.8 63.0 57.3 64.9 63.3
   in % of revenue 9.9 9.2 8.4 9.1 7.9
Inventories 67.0 63.6 62.3 69.2 76.1
   Days of supplies 123 152 161 149 155
Trade receivables 94.1 91.8 93.2 106.8 125.2
Days of sales outstanding 48 49 49 51 51
Balance sheet total 811.3 772.6 1'019.7 1'160.8 1'046.3
   Return on assets in % (ROA) 8.5 4.6 11.4 14.5 6.8
Equity 671.1 631.2 631.4 736.8 605.0
   Equity ratio in % 82.7 81.7 61.9 63.5 57.8
   Return on equity in % (ROE) 10.4 5.6 16.4 23.1 11.8
Capital employed 273.1 221.7 162.3 142.9 341.8
   Return on capital employed in % (ROCE) 26.2 24.7 66.2 97.2 50.5
Cash generated from operating activities 140.2 114.6 151.5 146.2 185.6
   in % of revenue 20.2 16.7 22.3 20.6 23.2
Investments (25.9) (286.0) (50.6) (22.8) (44.5)
   in % of revenue 3.7 41.7 7.4 3.2 5.6
   thereof capital expenditures (19.4) (19.4) (12.6) (18.8) (35.2)
   thereof business combinations related (0.4) (0.7)   (4.0) 4.9
   thereof investments in associates (6.1) (266.0) (38.0)   (14.2)
Free cash flow 121.1 95.2 139.2 128.4 151.1
   in % of revenue 17.5 13.9 20.5 18.1 18.9
Dividend (2015: subject to shareholders' approval) 58.0 57.9 58.2 58.6 62.91
  Dividend per share (in CHF) 3.75 3.75 3.75 3.75 4.001
  Pay-out ratio in % (excluding exceptionals) 59.4 76.8 53.3 37.1 43.4

1 To be proposed to the shareholder's AGM in 2016

* IAS 19 restated