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

EUR million 2018 20175 2016 2015 2014
           
>> Kendrion N.V. consolidated          
           
Statement of comprehensive income          
Revenue 448.6 461.8 443.4 442.1 428.9
Organic growth (2.9%) 4.2% 0.3% 3.1% 8.2%
Operating result before amortisation (EBITA) 1 35.4 37.5 31.1 25.8 32.9
Depreciation of property, plant and equipment and software 23.1 22.5 20.3 19.4 16.4
Operating result before depreciation and amortisation (EBITDA) 1 58.5 60.0 51.4 45.2 49.3
Net profit for the period 1 22.6 23.3 19.6 16.8 20.2
           
Statement of financial position at 31 December conform financial statements          
Total assets 375.3 360.2 347.1 340.9 333.5
Total equity 182.1 179.6 178.1 169.9 153.2
Net interest-bearing debt 80.5 70.6 54.0 69.1 83.0
Working capital 2 51.4 45.1 41.3 43.4 44.9
Invested capital 2 285.3 270.3 252.3 254.3 253.1
           
Statement of cash flows conform financial statements 3          
Net cash from operating activities 41.9 44.7 45.3 40.9 37.9
Net investments 30.7 28.3 22.9 19.8 20.0
Free cash flow 10.5 16.4 22.3 21.2 17.1
           
Ratios          
Return on Sales (ROS) 1 7.9% 8.1% 7.0% 5.8% 7.7%
Solvency 48.5% 49.8% 51.3% 49.8% 46.0%
Net interest-bearing debt / EBITDA 1(debt cover) 1.4 1.2 1.1 1.5 1.7
Net interest-bearing debt / equity (gearing) 0.4 0.4 0.3 0.4 0.5
EBITDA 1 / net finance costs (interest cover) 4 36.6 35.6 24.5 20.1 13.9
Return on Investment (ROI) 1, 2 12.4% 13.9% 12.4% 10.2% 13.0%
Working capital 2 in % of revenue 11.5% 9.8% 9.3% 9.8% 10.5%
Dividend payout ratio of net profit 52% 50% 53% 61% 50%
           
Market capitalisation as at 31 December 283.7 542.9 358.3 319.7 281.7
Net interest-bearing debt as at 31 December 80.5 70.6 54.0 69.1 83.0
Theoretic value of the organisation (Enterprise value) 364.2 613.5 412.3 388.8 364.7
Number of employees at 31 December (FTE) 2,465 2,645 2,578 2,658 2,713

1 2016 excluding one-off costs relating to simplifying measures of EUR 5.7 million (after tax EUR 4.7 million), 2017 excluding one-off costs relating to simplifying measures of EUR 5.1 million (after tax EUR 3.8 million) and 2018 excluding one-off costs relating to simplifying measures of EUR 8.8 million (after tax EUR 6.5 million), EUR 0.3 million finance expenses and EUR 2.0 million tax expenses.

2 2016, 2017 and 2018 excluding accruals and provisions related to the simplifying measures. In 2018 excluding provision for tax audit.

3 Excluding cash flows relating to acquisitions and disposals (2014 excluding EC fine payment and 2016, 2017 and 2018 excluding one-off costs relating to simplifying measures).

4 The net financing charges exclude foreign exchange differences, the commitment fees for unused facilities, the amortisation of upfront and legal fees and the interest on lease liabilities.

5 Restated due to application of IFRS 9, IFRS 15 and IFRS 16 as per 1 January 2018.