Annual Report 2022

Annual Report 2022

de
Services

10-year key figures

 

 

 

 

2022

 

2021

 

2020

 

2019

 

2018

 

2017

 

2016

 

2015

 

2014

 

2013

Profit & loss statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

MCHF

 

3,392

 

3,460

 

2,986

 

3,083

 

3,081

 

2,908

 

2,809

 

2,594

 

2,089

 

2,000

Change on previous year

 

%

 

-2.0

 

+15.9

 

-3.1

 

+0.1

 

+5.9

 

+3.5

 

+8.3

 

+24.2

 

+4.5

 

+4.2

Change on previous year c.a./org.

 

%

 

+4.8

 

+14.7

 

+1.3

 

+3.4

 

+3.1

 

+3.5

 

+6.4

 

+2.7

 

+5.9

 

+3.1

Operating cashflow (EBITDA) 1

 

MCHF

 

909

 

1,069

 

925

 

904

 

868

 

821

 

795

 

694

 

657

 

593

Margin in % of net sales 1

 

%

 

26.8

 

30.9

 

31.0

 

29.3

 

28.2

 

28.2

 

28.3

 

26.7

 

31.5

 

29.6

Operating profit (EBIT) 1

 

MCHF

 

755

 

902

 

772

 

757

 

744

 

706

 

687

 

591

 

577

 

511

Margin in % of net sales 1

 

%

 

22.3

 

26.1

 

25.8

 

24.5

 

24.2

 

24.3

 

24.4

 

22.8

 

27.6

 

25.5

Financial results, net 1

 

MCHF

 

-14

 

-13

 

-17

 

-14

 

-20

 

-9

 

-9

 

-17

 

-2

 

-6

Net income 1

 

MCHF

 

706

 

756

 

642

 

647

 

626

 

604

 

584

 

493

 

499

 

436

Margin in % of net sales 1

 

%

 

20.8

 

21.8

 

21.5

 

21.0

 

20.3

 

20.8

 

20.8

 

19.0

 

23.9

 

21.8

Earnings per share 1

 

CHF

 

20.48

 

21.34

 

17.95

 

17.97

 

17.21

 

16.43

 

15.85

 

13.23

 

13.28

 

11.59

Distribution per share

 

CHF

 

12.60

 

12.50

 

11.40

 

11.30

 

10.80

 

10.40

 

10.00

 

8.40

 

8.30

 

7.50

Free cashflow 2

 

MCHF

 

562

 

809

 

717

 

644

 

582

 

476

 

557

 

484

 

460

 

444

Margin in % of net sales 2

 

%

 

16.6

 

23.4

 

24.0

 

20.9

 

18.9

 

16.4

 

19.8

 

18.7

 

22.0

 

22.2

Capital expenditures

 

MCHF

 

155

 

169

 

150

 

167

 

162

 

159

 

139

 

147

 

105

 

98

Research and development expenses

 

MCHF

 

72

 

78

 

75

 

77

 

78

 

78

 

72

 

63

 

56

 

51

In % of net sales

 

%

 

2.1

 

2.3

 

2.5

 

2.5

 

2.5

 

2.7

 

2.6

 

2.4

 

2.7

 

2.5

Employees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of employees (31.12.)

 

 

 

11,514

 

11,809

 

11,569

 

11,619

 

11,630

 

11,709

 

11,592

 

12,126

 

6,247

 

6,226

Annual average

 

 

 

11,809

 

11,821

 

11,552

 

11,631

 

11,803

 

11,726

 

11,972

 

12,477

 

6,303

 

6,219

Net sales per employee

 

TCHF

 

287

 

293

 

258

 

265

 

261

 

248

 

235

 

208

 

331

 

322

Balance sheet (31.12.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

MCHF

 

3,429

 

3,772

 

3,751

 

3,725

 

3,502

 

3,743

 

3,601

 

3,554

 

2,432

 

2,226

Cash and cash equivalents, marketable securities, short-term investments

 

MCHF

 

206

 

511

 

469

 

428

 

282

 

413

 

510

 

460

 

750

 

613

Net working capital

 

MCHF

 

237

 

157

 

181

 

202

 

206

 

173

 

147

 

147

 

169

 

128

Property, plant and equipment

 

MCHF

 

948

 

956

 

934

 

920

 

829

 

813

 

727

 

715

 

551

 

536

Goodwill and intangible assets

 

MCHF

 

1,410

 

1,493

 

1,577

 

1,597

 

1,652

 

1,749

 

1,681

 

1,757

 

645

 

646

Total debt

 

MCHF

 

1,030

 

784

 

779

 

837

 

837

 

895

 

971

 

1,139

 

11

 

12

Equity

 

MCHF

 

1,497

 

1,988

 

1,922

 

1,899

 

1,745

 

1,837

 

1,635

 

1,482

 

1,717

 

1,664

Equity ratio

 

%

 

43.7

 

52.7

 

51.2

 

51.0

 

49.8

 

49.1

 

45.4

 

41.7

 

70.6

 

74.8

Gearing

 

%

 

55.0

 

13.7

 

16.1

 

21.5

 

31.8

 

26.3

 

28.2

 

45.9

 

-43.0

 

-36.1

ROIC 1

 

%

 

26.5

 

27.1

 

23.2

 

23.1

 

22.6

 

22.4

 

21.5

 

20.1

 

35.5

 

32.1

1

2015–2018: Adjusted for costs in connection with the Sanitec acquisition and integration (EBITDA 2018 not adjusted)

2

2016–2017: Adjusted due to an internal reclassification

 

 

 

 

2022

 

2021

 

2020

 

2019

 

2018

Profit & loss statement

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

MCHF

 

3,392

 

3,460

 

2,986

 

3,083

 

3,081

Change on previous year

 

%

 

-2.0

 

+15.9

 

-3.1

 

+0.1

 

+5.9

Change on previous year c.a./org.

 

%

 

+4.8

 

+14.7

 

+1.3

 

+3.4

 

+3.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cashflow (EBITDA) 1

 

MCHF

 

909

 

1,069

 

925

 

904

 

868

Margin in % of net sales 1

 

%

 

26.8

 

30.9

 

31.0

 

29.3

 

28.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit (EBIT) 1

 

MCHF

 

755

 

902

 

772

 

757

 

744

Margin in % of net sales 1

 

%

 

22.3

 

26.1

 

25.8

 

24.5

 

24.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial results, net 1

 

MCHF

 

-14

 

-13

 

-17

 

-14

 

-20

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income 1

 

MCHF

 

706

 

756

 

642

 

647

 

626

Margin in % of net sales 1

 

%

 

20.8

 

21.8

 

21.5

 

21.0

 

20.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share 1

 

CHF

 

20.48

 

21.34

 

17.95

 

17.97

 

17.21

Distribution per share

 

CHF

 

12.60

 

12.50

 

11.40

 

11.30

 

10.80

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cashflow 2

 

MCHF

 

562

 

809

 

717

 

644

 

582

Margin in % of net sales 2

 

%

 

16.6

 

23.4

 

24.0

 

20.9

 

18.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

MCHF

 

155

 

169

 

150

 

167

 

162

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expenses

 

MCHF

 

72

 

78

 

75

 

77

 

78

In % of net sales

 

%

 

2.1

 

2.3

 

2.5

 

2.5

 

2.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees

 

 

 

 

 

 

 

 

 

 

 

 

Number of employees (31.12.)

 

 

 

11,514

 

11,809

 

11,569

 

11,619

 

11,630

Annual average

 

 

 

11,809

 

11,821

 

11,552

 

11,631

 

11,803

Net sales per employee

 

TCHF

 

287

 

293

 

258

 

265

 

261

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet (31.12.)

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

MCHF

 

3,429

 

3,772

 

3,751

 

3,725

 

3,502

Cash and cash equivalents, marketable securities, short-term investments

 

MCHF

 

206

 

511

 

469

 

428

 

282

Net working capital

 

MCHF

 

237

 

157

 

181

 

202

 

206

Property, plant and equipment

 

MCHF

 

948

 

956

 

934

 

920

 

829

Goodwill and intangible assets

 

MCHF

 

1,410

 

1,493

 

1,577

 

1,597

 

1,652

Total debt

 

MCHF

 

1,030

 

784

 

779

 

837

 

837

Equity

 

MCHF

 

1,497

 

1,988

 

1,922

 

1,899

 

1,745

Equity ratio

 

%

 

43.7

 

52.7

 

51.2

 

51.0

 

49.8

Gearing

 

%

 

55.0

 

13.7

 

16.1

 

21.5

 

31.8

ROIC 1

 

%

 

26.5

 

27.1

 

23.2

 

23.1

 

22.6

1

2015–2018: Adjusted for costs in connection with the Sanitec acquisition and integration (EBITDA 2018 not adjusted)

2

2016–2017: Adjusted due to an internal reclassification                                                                                                                                    

 

 

 

 

2017

 

2016

 

2015

 

2014

 

2013

Profit & loss statement

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

MCHF

 

2,908

 

2,809

 

2,594

 

2,089

 

2,000

Change on previous year

 

%

 

+3.5

 

+8.3

 

+24.2

 

+4.5

 

+4.2

Change on previous year c.a./org.

 

%

 

+3.5

 

+6.4

 

+2.7

 

+5.9

 

+3.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cashflow (EBITDA) 1

 

MCHF

 

821

 

795

 

694

 

657

 

593

Margin in % of net sales 1

 

%

 

28.2

 

28.3

 

26.7

 

31.5

 

29.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit (EBIT) 1

 

MCHF

 

706

 

687

 

591

 

577

 

511

Margin in % of net sales 1

 

%

 

24.3

 

24.4

 

22.8

 

27.6

 

25.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial results, net 1

 

MCHF

 

-9

 

-9

 

-17

 

-2

 

-6

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income 1

 

MCHF

 

604

 

584

 

493

 

499

 

436

Margin in % of net sales 1

 

%

 

20.8

 

20.8

 

19.0

 

23.9

 

21.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share 1

 

CHF

 

16.43

 

15.85

 

13.23

 

13.28

 

11.59

Distribution per share

 

CHF

 

10.40

 

10.00

 

8.40

 

8.30

 

7.50

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cashflow 2

 

MCHF

 

476

 

557

 

484

 

460

 

444

Margin in % of net sales 2

 

%

 

16.4

 

19.8

 

18.7

 

22.0

 

22.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

MCHF

 

159

 

139

 

147

 

105

 

98

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expenses

 

MCHF

 

78

 

72

 

63

 

56

 

51

In % of net sales

 

%

 

2.7

 

2.6

 

2.4

 

2.7

 

2.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees

 

 

 

 

 

 

 

 

 

 

 

 

Number of employees (31.12.)

 

 

 

11,709

 

11,592

 

12,126

 

6,247

 

6,226

Annual average

 

 

 

11,726

 

11,972

 

12,477

 

6,303

 

6,219

Net sales per employee

 

TCHF

 

248

 

235

 

208

 

331

 

322

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet (31.12.)

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

MCHF

 

3,743

 

3,601

 

3,554

 

2,432

 

2,226

Cash and cash equivalents, marketable securities, short-term investments

 

MCHF

 

413

 

510

 

460

 

750

 

613

Net working capital

 

MCHF

 

173

 

147

 

147

 

169

 

128

Property, plant and equipment

 

MCHF

 

813

 

727

 

715

 

551

 

536

Goodwill and intangible assets

 

MCHF

 

1,749

 

1,681

 

1,757

 

645

 

646

Total debt

 

MCHF

 

895

 

971

 

1,139

 

11

 

12

Equity

 

MCHF

 

1,837

 

1,635

 

1,482

 

1,717

 

1,664

Equity ratio

 

%

 

49.1

 

45.4

 

41.7

 

70.6

 

74.8

Gearing

 

%

 

26.3

 

28.2

 

45.9

 

-43.0

 

-36.1

ROIC 1

 

%

 

22.4

 

21.5

 

20.1

 

35.5

 

32.1

1

2015–2018: Adjusted for costs in connection with the Sanitec acquisition and integration (EBITDA 2018 not adjusted)

2

2016–2017: Adjusted due to an internal reclassification                                                                                                                                    

Share page