Kendrion Worldwide

Division Industrial

Division Automotive

Kendrion N.V.

Kendrion N.V. is a public limited liability company incorporated under the laws of the Netherlands, with its registered office in Zeist.

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Five year summary

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EUR million 2017 2016 2015 2014 2013
           
>> Kendrion N.V. consolidated          
           
Statement of comprehensive income conform financial statements          
Revenue 461.8 443.4 442.1 428.9 354.0
Organic growth 4.2% 0.3% 3.1% 8.2% (1.2)%
Operating result before amortisation (EBITA) 1 37.0 31.1 25.8 32.9 23.9
Depreciation of property, plant and equipment and software 20.3 20.3 19.4 16.4 13.0
Operating result before depreciation and amortisation (EBITDA) 1 57.3 51.4 45.2 49.3 36.9
Net profit for the period 1 23.3 19.6 16.8 20.2 14.3
           
Statement of financial position at 31 December conform financial statements          
Total assets 344.8 347.1 340.9 333.5 334.8
Total equity 180.3 178.1 169.9 153.2 134.1
Net interest-bearing debt 54.5 54.0 69.1 83.0 49.0
Working capital 2, 8 45.6 41.3 43.4 44.9 40.6
Invested capital 3, 8 255.1 252.3 254.3 253.1 242.5
           
Statement of cash flows conform financial statements          
Net cash from operating activities 4 42.5 45.3 40.9 37.9 30.5
Net investments 28.3 22.9 19.8 20.0 18.5
Free cash flow 4 14.2 22.3 21.2 17.1 11.7
           
Ratios          
Return on Sales (ROS) 8.0% 7.0% 5.8% 7.7% 6.8%
Solvency 52.3% 51.3% 49.8% 46.0% 40.1%
Net interest-bearing debt / EBITDA 5 (debt cover) 1.0 1.1 1.5 1.7 1.2
Net interest-bearing debt / equity (gearing) 0.3 0.3 0.4 0.5 0.4
EBITDA 1, 5 / net finance costs (interest cover) 6 34.1 24.5 20.1 13.9 11.7
Return on Investment (ROI) 1, 3, 7, 8 14.5% 12.4% 10.2% 13.0% 10.8%
Working capital 2 in % of revenue 7 9.1% 8.6% 9.8% 10.5% 10.2%
Dividend payout ratio of net profit 50% 53% 61% 50% 50%
           
Market capitalisation as at 31 December 542.9 358.3 319.7 281.7 309.2
Net interest-bearing debt as at 31 December 54.5 54.0 69.1 83.0 49.0
Theoretic value of the organisation (Enterprise value) 597.4 412.3 388.8 364.7 358.1
Number of employees at 31 December (FTE) 2,645 2,578 2,658 2,713 2,756

1 2013 excluding non-recurring costs and earn-out Kuhnke of EUR 2.4 million after tax, 2016 excluding one-off costs relating to simplifying measures of EUR 5.7 million (after tax EUR 4.7 million) and 2017 excluding one-off costs relating to simplifying measures of EUR 5.1 million (after tax EUR 3.8 million).

2 Relates to inventories, receivables minus non-interest bearing debts (2013 is excluding EC fine payable).

3 Total invested capital is property, plant and equipment, intangible assets, other investments and current assets less cash and non-interest bearing debts (2013 is including EC fine).

4 Before cash flow relating to acquisitions and disposals (2013 excluding acquisition expenses, 2014 excluding EC fine payment, 2016 and 2017 excluding one-off costs relating to simplifying measures).

5 2013 is including full year Kuhnke, 2016 and 2017 are excluding one-off costs relating to simplifying measures.

6 The net financing charges exclude foreign exchange differences, the commitment fees for unused facilities and the amortisation of upfront and legal fees.

7 2013 is including full year Kuhnke.

8 2016 and 2017 excluding accruals and provisions related to the simplifying measures.