Business Development 2013 – 2017

	2013	2014	2015	2016	2017

Results of operations
Sales	857	959.7	1,060.7	1,042.0	1,138.9
Gross profit	155.6	174.6	202.9	206.5	205.1
Gross profit margin in %	18.2%	18.2%	19.1%	19.8%	18.0%
EBIT	49.3	56.7	81.6	78.4	72.7
EBIT margin in %	5.8%	5.9%	7.7%	7.5%	6.4%
Adjusted EBIT	59.3	70.7	94.0	90.4	91.2
Adjusted EBIT margin in %	6.9%	7.4%	8.9%	8.7%	8.0%
Result for the period	24.2	32.7	51.7	43.5	41.0
Adjusted result for the period	28.8	43.7	62.2	53.7	52.7
undiluted earnings per share	0.54	0.72	1.14	0.98	0.95
adjusted undiluted earnings per share	0.63	0.96	1.37	1.18	1.16
Dividend per share	0.27	0.32	0.40	0.44	0.45¹

Net Assets
Balance sheet total	536.4	645.2	888.5	1,014.0²	998.1
Equity	222.2	248.6	287.8	304.9²	301.0
Equity ratio in %	41.4%	38.5%	32.4%	30.1%	30.2%
Cash and cash equivalents	23.9	44.2	145.7	344.6	278.8
Net debt	123.0	137.1	122.4	97.1	105.5
Net Working Capital	76.1	102.7	116.6	110.3²	120.6
Net Working Capital/sales	9.4%	10.9%	12.0%	10.9%²	11.0

Financial position
Cash flow from operating activities before income tax paid	63.0	48.8	79.5	106.4	74.1
Cash Conversion Rate³ in %	106.2%	69.0%	84.6%	117.7%	81.3%
Net cash flow from operating activities	54.0	36.0	63.1	92.7	56.8
Cash flow from investing activities	-23.5	-29.5	-139.2	89.8	-84.3
Purchase of property, plant and equipment and intangible assets	-23.2	-24.7	-28.1	-25.0	-27.1
Free Cash Flow (Net cash flow from operating activities less investments in property, plant and equipment and intangible assets)	30.8	11.3	35.0	67.7	29.7

Yield
Dividend yield	2.5%	2.9%	3.2%	3.2%	2.5%
Return on Capital Employed (ROCE)³	11.7%	11.0%	10.7%	9.1%	9.5%

Employees
Employees (on average)	3,106	3,346	3,325	3,259	3.565
Sales per employee (kEUR)	275.9	286.8	319.1	319.7	319.5
¹ To be proposed at Annual General Meeting 2018 ² Adjusted according to IAS 8.42 (cp. Section 2.4 "Changes in Accounting Policies" incl. in the Notes to the Consolidated Financial Statements) ³ Cash flow from operating activities before income tax paid divided by adjusted EBIT ⁴ Net cash flow from operating activities less investments in property, plant and equipment and intangible assets ⁵ ROCE = EBIT / (total assets-current liabilities)