Key figures 2016

Consolidated results

Weighted average number of shares outstanding 71,000,000 71,000,000
(€ million) 2016 2015 Variation
Sales 2,459 2,625 – 6,3 %
Gross margin
Gross margin rate
597
24.3 %
631
24.0 %
– 5.4 %
+ 0.3 point
EBITDA1
EBITDA margin
88
3,6 %
94
3,6 %
– 5,8 %
Current operating income
Operating margin
64
2,6 %
68
2,6 %
– 5,3 %
NET INCOME 5 8 NA
Diluted earnings per share (€) 0,07 0,11

 

Consolidated net debt

(€  million) 31.12.2016 31.12.2015
Goodwill 150 147
Other intangible assets 42 48
Property, plant and equipment 49 50
Operating working capital requirement2 208 197
Capital employed 449 442
Shareholders equity 142 156
Net debt 254 232

 

Variation of net debt

CONSOLIDATED NET DEBT – CLOSING DATE (254) (232)
(€ million) 2016 2015
CONSOLIDATED NET DEBT – OPENING DATE3 (232) (250)
EBITDA 88 94
Change in working capital requirements (17) 41
CAPEX (16) (17)
Current operating cash flow 55 118
Net financial charges (26) (28)
Income taxes paid (5) (6)
Restructuring costs and other operating expenses (24) (36)
Disposals/acquisitions (8) (24)
Dividends (8) (8)
Other items (6) 2


1
The Group defines EBITDA as current operating income plus net additions to depreciation, amortisation and provisions.

2 The operating working capital requirement is the algebraic sum of the value of inventories plus trade receivables and other operational receivables, net of trade payables and other operating payables.

3 Net debt is defined as gross debt (borrowings and financial liabilities) minus available cash and cash equivalents.