Five-year overview

Operating and financial performance

Five-year overview – operating performance

(in CHF million) 2017 2018 2019 2020 2021
Net revenue 1 112.1 1 363.6 1 596.2 1 425.9 2 021.9
    Growth in %  21.2 22.6 17. 1 (10.7) 41.8
Gross profit 840.5 1 019.2 1 200.5 1 029.8 1 540.0
    Margin in % 75.6 74 .7 75.2 72.2 76.2
Operating result before depreciation and amortization (EBITDA) 323.5 395.0 480.6 406.0 652.4
    Margin in % 29.1 29.0 30.1 28.5 32.3
    Growth in % 24.8 22.1 21.7 (15.5) 60.7
Operating profit (EBIT) 283.3 342.6 387.1 156.5 542.6
    Margin in % 25.5 25.1 24.3 11.0 26.8
    Growth in % 24.7 21.0 13.0 (59.6) 246.6
Net profit 282.2 27 7. 8 308.0 92.3 399.3
    Margin in % 25.4 20.4 19.3 6.5 19.7
    Growth in % 22.9 (1.6) 10.9 (70.0) 332.7
Basic earnings per share (in CHF) 18.04 17.24 19.33 5.75 24.90
Value  added /  economic  profit1 214.5 189.6 208.6 (30.6) 250.3
    Change in value added 32.3 (24.8) 18.9 (239.1) 280.9
    Change in value added in % 17.7 (11.6) 10.0 (114.7) 919.0
    as a % of net revenue 19.3 13.9 13.1 (2.1) 12.4
Number of employees (year-end) 4 881 5 954 7 590 7 340 9 054
Number of employees (average) 4 305 5 580 6 837 7 409 8 256
    Sales per employee (average) in CHF 1 000 258 244 233 192 245

1 Figures as reported in the financial reports,

Five-year overview – financial performance

(in CHF million) 2017 2018 2019 2020 2021
Cash and cash equivalents 281.8 278.7 260.2 632.2 880.4
Net Cash (Net Debt) 23.2 16.8 20.2 116.2 376.1
Net working capital (net of cash) 187.7 233.0 265.6 168.0 124.0
    as a % of revenue 16.9 17.3 16.6 11.8 6.1
Inventories 152.1 182.1 234.6 216.6 249.2
    Days of supplies 174 165 175 160 166
Trade receivables 191.9 231.3 281.2 236.0 287.3
   Days of sales outstanding 56 56 57 47 48
Balance sheet total 1 697.0 1 864.6 2 390.0 2 548.6 2 698.0
    Return on assets in % (ROA) 20.3 15.6 13.6 3.9 14.3
Equity 1 077.0 1 204.3 1 367. 2 1 209.9 1 500.4
   Equity ratio in % 63.5 64.6 57.2 47. 5 50.6
   Return on equity in % (ROE) 33.0 24.4 24.0 7.7 28.8
Capital employed 908.0 1 011.6 1 455.0 1 190.3 1 174.6
   Return on capital employed in % (ROCE) 40.9 35.7 28.4 11.9 43.7
Cash generated from operating activities 217.3 277.1 378.5 376.6 560.3
   as a % of revenue 19.5 20.3 23.7 26.4 27.7
Investments (296.5) (188.2) (239.3) (140.4) (167.8)
    as a % of net revenue 26.7 13.8 15.0 9.8 8.3
   thereof capital expenditures (74.4) (109.7) (149.9) (82.1) (121.0)
   thereof business combinations related (178.8) (22.2) (77. 1) (55.1) (39.7)
   thereof investments in associates (43.3) (56.3) (12.3) (3.2) (7.1)
Free cash flow 144.7 169.4 229.6 295.2 440.6
   as a % of revenue 13.0 12.4 14.4 20.7 21.8
Dividend 75.1 83.1 91.2 91.3 107.41
   Dividend per share (in CHF) 4.75 5.25 5.75 5.75 6.751
   Pay-out ratio in % (core results) 32.4 28.9 27.1 35.5 23.7

1 To be proposed to the shareholder's AGM in 2022