Ten-year Overview*

Financial performance

in € million 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Net sales 3,898.0 3,889.2 3,761.0 3,631.6 3,838.5 3,823.0 3,824.6 3,435.6 3,304.2 2,475.5
Research and development costs 1 243.6 233.4 217.6 221.4 203.0 212.3 197.0 181.2 144.3 122.6
EBITDA 280.3 372.7 335.7 251.9 310.5 327.9 420.5 426.1 377.5 200.3
EBIT 164.0 256.8 215.2 129.0 196.8 194.4 334.7 347.6 292.3 116.1
Income before taxes 135.7 225.7 184.5 93.5 157.7 155.1 295.3 315.6 255.3 77.2
Net income 96.3 152.0 115.4 37.6 105.7 113.1 212.3 232.7 181.8 51.5
Return on sales (in %) 3.5 5.8 4.9 2.6 4.1 4.1 7.7 9.2 7.7 3.1
Return on equity (in %) 6.8 10.9 8.9 3.2 8.6 9.6 17.3 21.3 20.9 6.3
Foreign sales (in %) 79.5 78.5 79.1 78.6 77.2 77.2 78.1 77.3 73.5 73.1

Cash flow / investments / amortization, depreciation, impairment

in € million 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Cash flows from operating activities 45.9 85.0 345.0 246.0 156.5 50.4 247.6 115.1 244.5 300.5
Free cash flow - 138.2 - 83.9 209.6 118.5 38.8 - 136.9 82.1 -84.2 156.5 215.8
Comprehensive capital expenditure 2 183.3 160.3 130.7 122.2 128.3 173.2 172.4 163.1 93.7 87.2
Depreciation / amortization / impairment 3 128.8 112.7 116.2 102.8 111.3 133.3 83.3 78.4 85.1 84.2

Asset / capital structure

in € million 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Non-current assets 1,183.0 1,066.8 995.6 1,002.0 993.0 942.5 820.4 707.3 586.4 561.6
thereof: development costs recognized as an asset 219.2 194.3 183.2 174.9 160.9 141.8 116.1 96.9 89.7 92.3
thereof: property, plant and equipment 541.8 501.5 476.2 480.5 480.7 486.2 460.0 404.3 337.6 330.5
Current assets 2,348.9 2,317.8 2,237.1 2,135.2 2,350.2 2,170.6 2,105.5 1,913.1 1,803.4 1,716.8
thereof: inventories 1,103.5 903.0 683.9 733.0 873.1 934.9 729.7 682.1 559.6 418.1
thereof: liquid assets 669.7 803.4 937.6 842.4 851.3 699.2 863.7 767.2 818.8 907.7
Equity 1,417.3 1,395.5 1,293.8 1,160.7 1,231.0 1,183.2 1,226.7 1,094.8 870.1 814.2
Equity-to-assets ratio (in %) 40.1 41.2 40.0 37.0 36.8 38.0 41.9 41.8 36.4 35.7
Non-current liabilities 837.7 958.4 938.8 1,060.2 981.1 656.1 700.0 593.5 497.3 720.6
Current liabilities 1,276.9 1,030.8 1,000.2 916.3 1,131.1 1,273.8 999.2 932.1 1,022.4 743.6
Total assets 3,531.9 3,384.7 3,232.8 3,137.2 3,343.2 3,113.1 2,925.9 2,620.4 2,389.8 2,278.4
Net liquidity 19.2 197.9 320.3 124.0 46.7 82.7 387.4 333.6 442.9 395.2
Working capital 1,170.0 1,012.5 839.5 892.3 1,007.2 998.1 843.6 822.7 650.9 512.6
Equity and non-current liabilities to non-current assets (in %) 190.6 220.7 224.2 221.6 222.8 195.2 234.9 238.7 233.2 273.3

Employees

  2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Number of employees as of the balance sheet date 4 11,448 11,132 10,961 11,300 11,535 11,407 9,697 9,077 9,060 8,968
Personnel expenses 730.3 693.0 673.5 653.3 650.6 627.0 594.0 548.1 540.4 489.0

* Fiscal year 2017 and earlier, excluding reclassifications.

1 Before capitalized and amortized development costs.

2 Including development costs recognized as an asset, excluding goodwill.

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

4 Including apprentices.