Key figures 2017

Consolidated results

Weighted average number of shares outstanding 70,951,156 71,000,000
(€ million) 2017 2016 Variation
Sales 2,377 2,458 – 3.3 %
Gross margin
Gross margin rate
582.4
24.5 %
596.5
24.3 %
– 2.4 %
+ 0.2 point
EBITDA1
EBITDA margin
84.4
3.6 %
88.2
3.6 %
– 4.3 %
Current operating income
Operating margin
65.8
2,8 %
64.4
2,6 %
+2.2 %
+ 0.2 point
NET INCOME 9.4 5.1 NA
Diluted earnings per share (€) 0.13 0.07

 

Consolidated net debt

(€  million) 31.12.2017 31.12.2016
Goodwill 141.1 149.8
Other intangible assets 41.7 42.7
Property, plant and equipment 42.3 48.8
Operating working capital requirement2 183.2 207.3
Capital employed 408.3 448.6
Shareholders equity 124.3 141.9
Net debt 247.6 254.3

 

Variation of net debt

CONSOLIDATED NET DEBT – CLOSING DATE (247.6) (254.3)
(€ million) 2017 2016
CONSOLIDATED NET DEBT – OPENING DATE3 (254.3) (231.7)
EBITDA 84.4 88.2
Change in working capital requirements 7.5 (15.5)
CAPEX (18.7) (16.4)
Current operating cash flow 73.2 56.3
Net financial charges (25) (25.8)
Income taxes paid (4.8) (5.5)
Restructuring costs and other operating expenses (28) (23.7)
Disposals/acquisitions (7.8)
Dividends (8) (8)
Other items (4.7) (5.4)


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.