Information for investors

5-year overview

Operating Performance 2008 - 2012

(in CHF million)  2008 2009 2010 2011 2012
Net revenue 778.7 736.4 737.6 693.6 686.3
   Growth in % 9.1 -5.4 0.2 -6.0 -1.1
Gross profit 631.5 586.8 587.0 528.5 531.5
   Margin in % 81.1 79.7 79.6 76.2 77.5
Operating result before depreciation and amortization (EBITDA) 274.1 218.3 211.9 157.4 117.4
   Margin in % 35.2 29.6 28.7 22.7 17.1
   Growth in % 12.3 -20.3 -2.9 -25.7 -25.4
Operating result before amortization (EBITA) 240.6 187.9 185.0 131.9 89.5
   Margin in % 30.9 25.5 25.1 19.0 13.0
   Growth in % 10.1 -21.9 -1.6 -28.7 -32.1
Operating profit (EBIT) 40.4 165.3 164.3 79.9 61.0
   Margin in % 5.2 22.5 22.3 11.5 8.9
   Growth in % -80.0 309.2 -0.6 -51.4 -23.7
Net profit 8.2 146.4 131.1 71.0 36.4
   Margin in % 1.1 19.9 17.8 10.2 5.3
   Growth in % -95.4 1693.2 -10.4 -45.9 -48.6
Basic earnings per share (in CHF) 0.52 9.38 8.37 4.54 2.36
Value added  / economic profit -48.0 96.1 88.4 29.7 -12.5
   Change in value added -177.4 144.1 -7.6 -58.7 -42.2
   Change in value added in % -137.1 300.2 -8.0 -66.4 -142.2
   in % of net revenue -6.2 13.0 12.0 4.3 -1.8
Number of employees (year-end) 2 201 2 170 2 361 2 452 2'517
Number of employees (average) 2 141 2 162 2 287 2 415 2'530
Sales per employee (average) in CHF 1 000 364 341 323 287 271

Financial Performance 2008 - 2012

(in CHF million)  2008 2009 2010 2011 2012
Cash and cash equivalents  147.9  261.6  349.6  377.1  140.5
Net working capital (net of cash)  88.8  60.8  74.5  68.8  63.0
   in % of revenue  11.4  8.2  10.1  9.9  9.2
Inventories  84.0  71.5  73.1  67.0  63.6
   Days of supplies  237  159  158  123  152
Trade receivables  96.6  95.4  92.3  94.1  91.8
   Days of sales outstanding  46  47  45  48  49
Balance sheet total  728.2  802.9  853.9  811.3  772.6
   Return on assets in % (ROA)  1.0  19.1  15.8  8.5  4.6
Equity  537.7  635.4  695.6  671.1  631.2
   Equity ratio in %  73.8  79.1  81.5  82.7  81.7
   Return on equity in % (ROE)  1.4  25.0  19.7  10.4  5.6
Capital employed   417.8  363.7  337.7  273.1  221.7
   Return on capital employed in % (ROCE)  9.7  42.5  46.9  26.2  24.7
Cash generated from operating activities  198.8  245.1  175.8  140.2  114.6
   in % of revenue  25.5  33.2  23.8  20.2  16.7
Investments ( 73.2) ( 38.2) ( 22.9) ( 25.9) ( 286.1)
   in % of revenue  9.4  5.2  3.1  3.7  41.7
   thereof capital expenditures ( 55.4) ( 31.4) ( 22.1) ( 19.4) ( 19.4)
   thereof business combinations related ( 17.8) ( 6.9) ( 0.7) ( 0.4) ( 0.7)
   thereof investments in associates       ( 6.1) ( 266.0)
Free cash flow  144.4  214.7  154.2  121.1  95.2
   in % of revenue  18.5  29.1  20.9  17.5  13.9
Dividend (2012: subject to shareholders' approval)  58.4  58.7  58.8  58.0  57.9
Pay-out ratio in % (excluding exceptionals)  32.6  40.1  44.8  59.4  76.8