EUR million | 2022 | 2021 | 2020 *1 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
---|---|---|---|---|---|---|---|---|---|
Results | |||||||||
Revenue | 4,601.5 | 3,435.3 | 2,774.9 | 2,689.6 | 2,379.1 | 1,907.4 | 1,714.5 | 1,529.8 | 1,358.3 |
Year on year revenue growth |
34% | 24% | 3% | 13% | 25% | 11% | 12% | 13% | 10% |
Gross profit | 1,147.1 | 836.3 | 647.5 | 599.3 | 536.1 | 428.7 | 381.6 | 332.8 | 287.6 |
Gross profit in % of revenue | 24.9% | 24.3% | 23.3% | 22.3% | 22.5% | 22.5% | 22.3% | 21.8% | 21.2% |
Operating EBITA *2 | 554.5 | 373.6 | 243.2 | 224.8 | 202.1 | 161.7 | 147.8 | 128.3 | 110.0 |
Year on year Operating EBITA growth | 48% | 54% | 8% | 11% | 25% | 9% | 15% | 17% | 14% |
Operating EBITA in % of revenue | 12.0% | 10.9% | 8.8% | 8.4% | 8.5% | 8.5% | 8.6% | 8.4% | 8.1% |
Cash flow | |||||||||
Free cash flow *3 | 434.4 | 278.9 | 277.4 | 222.2 | 166.5 | 161.3 | 140.4 | 119.3 | 94.6 |
Cash conversion margin *4 | 76.9% | 72.6% | 109.4% | 97.4% | 79.3% | 97.2% | 92.3% | 90.5% | 83.9% |
Balance sheet | |||||||||
Working capital | 770.1 | 612.5 | 443.7 | 435.9 | 399.8 | 314.3 | 248.4 | 227.8 | 179.7 |
Total equity | 1,673.4 | 1,461.4 | 1,252.4 | 866.5 | 786.3 | 729.2 | 722.1 | 653.8 | 530.8 |
Net debt | 1,026.9 | 940.0 | 727.0 | 735.2 | 610.7 | 490.0 | 397.6 | 437.5 | 266.6 |
Net debt/Operating EBITDA ratio *5 | 1.7 | 2.3 | 2.3 | 2.8 | 2.8 | 2.8 | 2.6 | 2.9 | 2.4 |
Employees | |||||||||
Number of full time employees end of period | 4,323 | 3,740 | 3,298 | 2,991 | 2,799 | 2,265 | 1,863 | 1,746 | 1,512 |
Shares | |||||||||
Number of shares issued at year-end (x 1,000) | 56,988 | 56,988 | 56,988 | 52,592 | 52,592 | 52,592 | 52,592 | 52,592 | 50,000 |
Weighted average number of shares (x 1,000) | 56,929 | 56,940 | 53,750 | 52,475 | 52,443 | 52,425 | 52,477 | 51,612 | 25,118 |
Earnings per share (weighted) | 5.50 | 3.64 | 2.24 | 2.06 | 1.91 | 1.47 | 1.39 | 1.20 | 0.79 |
Cash earnings per share (weighted) *6 | 6.78 | 4.64 | 3.03 | 2.85 | 2.53 | 2.06 | 2.01 | 1.79 | 1.42 |
Proposed dividend per share *7 | 2.37 | 1.62 | 1.02 | 0.90 | 0.80 | 0.62 | 0.55 | 0.44 | 0.20 |
*1. The period ended 31 December 2020 has been restated as a result of a change in accounting policy detailed in Note 2 to the financial statements included in the 2021 Annual Report
*2. Result from operating activities before amortisation of intangibles and non-recurring items
*3. Operating EBITDA excluding non-cash share based payment expenses, less lease payments, plus/less changes in working capital, less capital expenditures
*4. Free cash flow in percentage of Adjusted Operating EBITDA (Operating EBITDA plus non-cash share-based payment costs minus lease payments) before 2018 calculated as free cash flow in percentage of Operating EBITDA
*5. Including full year impact of acquisitions
*6. Result for the year before amortisation (net of tax) dividend by the weighted average number of outstanding shares
*7. The 2022 dividend is still subject to approval by the approval by the 2023 AGM, to be held on 26 April 2023.