FINANCIAL REPORTING

FINANCIAL REPORTING

KEY FIGURES

DKK million 2017 2016 2015 2014 2013
           
Consolidated income statement          
Revenue 22,781 20,281 16,737 11,942 9,010
Gross profit 16,966 15,223 12,193 8,423 5,999
EBITDA 8,505 7,922 6,214 4,294 2,881
EBIT 7,784 7,404 5,814 4,072 2,681
Net financials -117 246 -469 -200 61
Net profit for the year 5,768 6,025 3,674 3,098 2,220
           
Consolidated balance sheet          
Total assets 17,240 15,085 13,311 10,556 9,275
Invested capital 11,439 9,396 8,255 6,080 5,976
Operating working capital 2,977 2,780 2,388 1,990 1,846
Net interest-bearing debt (NIBD) 4,855 2,448 1,921 -1,121 -637
Equity 6,514 6,794 6,139 7,032 6,462
           
Consolidated cash flow statement          
Net increase/decrease in cash 133 5 -245 431 361
Free cash flow 5,294 5,358 2,449 3,868 1,956
Cash conversion, % 68.0% 72.4% 42.1% 95.0% 73.0%
           
Growth ratios          
Revenue growth, % 12% 21% 40% 33% 35%
Gross profit growth, % 11% 25% 45% 40% 35%
EBITDA growth, % 7% 27% 45% 49% 74%
EBIT growth, % 5% 27% 43% 52% 82%
Net profit growth, % -4% 64% 19% 40% 85%
           
Margins          
Gross margin, % 74.5% 75.1% 72.9% 70.5% 66.6%
EBITDA margin, % 37.3% 39.1% 37.1% 36.0% 32.0%
EBIT margin, % 34.2% 36.5% 34.7% 34.1% 29.8%
           
Other ratios          
Effective tax rate, % 24.8% 21.2% 31.3% 20.0% 19.0%
Equity ratio, % 37.8% 45.0% 46.1% 66.6% 69.7%
NIBD to EBITDA 0.6x 0.3x 0.3x -0.3x -0.2x
Return on invested capital (ROIC), % 68.0% 78.8% 70.4% 67.0% 44.9%
           
Share information          
Dividend per share1, DKK 9.00 9.00 13.00 9.00 6.50
Quarterly dividend per share2, DKK 27.00 - - - -
Total payout ratio (incl. share buyback), % 99.1% 91.5% 135.8% 104.1% 63.7%
Earnings per share, basic, DKK 52.0 52.8 30.9 25.0 17.2
Earnings per share, diluted, DKK 51.8 52.5 30.7 24.7 17.0
Share price at year-end, DKK 675.5 924.0 872.0 504.5 294.0
           
Other key figures          
Capital expenditure (CAPEX) 1,388 1,199 1,109 455 490
Capital expenditure, tangible assets (CAPEX) 946 828 706 297 182
Store network, total number of points of sale 7,794 8,131 9,271 9,906 10,279
Store network, total number of concept stores 2,446 2,138 1,802 1,410 1,100
Average number of full-time employees 20,904 17,770 13,971 9,957 6,910

 

1 Proposed dividend per share for 2017

2 Quarterly dividend per share for 2017, paid in 2017.