5-Year Review

in CHF mn     
Balance Sheet2006200720082009 2010
Current Assets17431916174420942351
Non-Current Assets13171402146615351581
Current Liabilities7137426856661057
Non-Current Liabilities10761101106013701123
Shareholders' Equity12741475146515931752
Balance Sheet Total30643318320936293932
Income Statement     

Net Sales

38964573462541554416
Gross Result21012436239122952385
as % of Net Sales53.9%53.3%51.7%55.2%54.0%
EBITDA515638556540577
as % of Net Sales13.2%13.9%12.0%13.0%13.1%
EBIT371511422401440
as % of Net Sales9.5%11.2%9.1%9.6%10.0%
Net Profit235342267226311
as % of Net Sales6.0%7.5%5.8%5.4%7.0%
Cash Flow     
Free Cash Flow14618390313244
Operating Free Cash Flow191191166369332
Key Ratios     
Gearing31%24%32%17%9%
Equity Ratio42%44%46%44%45%
Net Working Capital as % of Net Sales21%20%19%20%18%
Return on Capital Employed (ROCE)20%26%20%19%21%
Return on Equity (ROE)18%23%18%14%18%
Employees      
Number of Employees11'30911'72312'90012'36913'482

Definitions

  • Gearing: Net Debt / Shareholders' Equity
  • Net Debt: Interest-Bearing Indebtedness (Short- and Long-Term Bank Debt + Bonds) - Interest Bearing Current Assets (Cash, Cash Equivalents and Securities) - Capital Investments
  • Equity Ratio: Shareholders' Equity / Balance Sheet Total
  • Net Working Capital: Accounts Receivable + Inventories - Accounts Payable
  • Return on Capital Employed: EBIT / Annual Average of Capital Employed
  • Capital Employed: Operating Assests - Cash - Non-Interest Bearing Current Liabilities
  • Return on Equity: Net profit as % of Shareholders' Equity