Key figures 2018

Consolidated results

Weighted average number of shares outstanding 70,792,514 70,951,156
(€ million) 2018 2017 Variation
Sales 2,311.0 2,377.4 – 2.8%
Gross margin
Gross margin rate
560.2
24.2%
582.4
24.5%
– 3.8%
-0.3 points
EBITDA1
EBITDA margin
74.7
3.2%
84.4
3.6%
-11.5%
0.4 points
Current operating income
Operating margin
52.6
2.3%
65.8
2.8%
-20.1%
0.5 points
NET INCOME (29.8) 9.4 n/a
Diluted earnings per share (€) (0.42) 0.13

 

Consolidated net debt

(€  million) 31.12.2018 31.12.2017
Goodwill 120.0 141.1
Other intangible assets 42.8 41.7
Property, plant and Equipment 38.7 42.3
Operating working capital requirement2 177.7 183.2
Capital employed 379.2 408.3
Shareholders equity 113.4 124.3
Net debt 287.8 247.6

 

Variation of net debt

CONSOLIDATED NET DEBT – CLOSING DATE (287.8) (247.6)
(€ million) 2018 2017
CONSOLIDATED NET DEBT – OPENING DATE3 (247.6) (254.3)
EBITDA 74.7 84.4
Change in working capital requirements (9.9) 8.5
CAPEX (20.7) (18.7)
Cash flow from operating activities 44.1 74.2
Net Financial expenses (28.1) (22.7)
Income taxes paid (6.3) (4.8)
Restructuring costs and other non-recurring items (19.8) (21.4)
Proceeds from disposal of assets 3.9 11.3
Impact of changes in scope of consolidation (7.6) 0.3
Dividends (5.7) (8.0)
Refinancing & IPO costs (9.1) (6.6)
Foreign exchange gains (losses) (5.7) (9.9)
Other items (5.9) (5.7)


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.