Ten-year Overview

Financial performance

in € million 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Net sales 3,838.5 3,823.0 3,824.6 3,435.6 3,304.2 2,475.5 2,900.8 3,236.2 2,658.9 2,350.9
Research and development costs 1 203.0 212.3 197.0 181.2 144.3 122.6 124.8 113.8 109.6 100.3
EBITDA 310.5 327.9 420.5 426.1 377.5 200.3 230.0 385.6 312.0 246.4
EBIT 196.8 194.4 334.7 347.6 292.3 116.1 146.9 282.5 209.9 162.8
Income before taxes 157.7 155.1 295.3 315.6 255.3 77.2 112.3 248.1 175.8 130.7
Net income 105.7 113.1 212.3 232.7 181.8 51.5 73.4 169.3 114.8 80.9
Return on sales (in %) 4.1 4.1 7.7 9.2 7.7 3.1 3.9 7.7 6.6 5.6
Return on equity (in %) 8.6 9.6 17.3 21.3 20.9 6.3 9.5 23.2 19.0 16.1
Foreign sales (in %) 77.2 77.2 78.1 77.3 73.5 73.1 75.2 77.6 76.3 76.3

Cash flow / investments / amortization, depreciation, impairment

in € million 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Cash flows from operating activities 156.5 50.4 247.6 115.1 244.5 300.5 -140.6 334.6 264.8 151.1
Free cash flow 38.8 - 136.9 82.1 -84.2 156.5 215.8 -264.8 217.5 166.2 26.8
Capital expenditure 2 128.3 173.2 172.4 163.1 93.7 87.2 125.2 115.1 101.4 84.3
Depreciation / amortization / impairment 3 111.3 133.3 83.3 78.4 85.1 84.2 83.1 85.1 84.0 73.2

Asset / capital structure

in € million 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Non-current assets 993.0 942.5 820.4 707.3 586.4 561.6 579.1 522.8 493.3 501.9
thereof: development costs recognized as an asset 160.9 141.8 116.1 96.9 89.7 92.3 95.5 99.8 91.5 84.7
thereof: property, plant and equipment 480.7 486.2 460.0 404.3 337.6 330.5 322.4 281.0 257.6 260.8
Current assets 2,350.2 2,170.6 2,105.5 1,913.1 1,803.4 1,716.8 1,627.6 1,501.1 1,282.7 1,109.5
thereof: inventories 873.1 934.9 729.7 682.1 559.6 418.1 519.3 394.6 343.0 339.9
thereof: liquid assets 851.3 699.2 863.7 767.2 818.8 907.7 677.2 716.2 597.9 436.0
Equity 1,231.0 1,183.2 1,226.7 1,094.8 870.1 814.2 775.5 731.0 604.4 502.5
Equity-to-assets ratio (in %) 36.8 38.0 41.9 41.8 36.4 35.7 35.1 36.1 34.0 31.2
Non-current liabilities 981.1 656.1 700.0 593.5 497.3 720.6 766.2 503.8 541.4 545.4
Current liabilities 1,131.1 1,273.8 999.2 932.1 1,022.4 743.6 665.0 789.1 630.2 563.5
Total assets 3,343.2 3,113.1 2,925.9 2,620.4 2,389.8 2,278.4 2,206.7 2,023.9 1,776.0 1,611.4
Net liquidity 46.7 82.7 387.4 333.6 442.9 395.2 166.2 450.6 273.7 105.9
Working capital 1,007.2 998.1 843.6 822.7 650.9 512.6 692.8 474.8 420.2 413.7
Equity and non-current liabilities to non-current assets (in %) 222.8 195.2 234.9 238.7 233.2 273.3 266.2 236.2 232.3 208.8

Employees

  2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
Employees as of the balance sheet date 4 11,535 11,407 9,697 9,077 9,060 8,968 9,467 9,100 8,425 8,191
Personnel expenses (in € million) 650.6 627.0 594.0 548.1 540.4 489.0 522.8 514.9 472.8 455.7

1 Before capitalized and amortized development costs

2 Including development costs recognized as an asset

3 Of intangible assets (excluding goodwill) and property, plant and equipment

4 Including apprentices