• Performance highlights
    [Euro ‘000]202520242023202220212020
    Revenue1,640,1931,687,1901,695,0441,723,2581,360,1821,225,229
    EBITDA436,488431,656422,452347,297329,128278,329
    EBITDA margin %26.6%25.6%24.9%20.2%24.2%22.7%
    EBIT293,145287.162290,515217,824219,217174,484
    EBIT margin %17.9%17.0%17.1%12.6%16.1%14.2%
    Financial income (expense)-4,33524,28714,00334,584-11,551-12,946
    Profit before taxes289,123312,603305,290253,303208,484162,109
    Income taxes78,84574,56377,62552,47957,55237,212
    Profit for the year210,227238,040231,121196,292150,932124,987
    Profit for the period margin %102.6%109.7%105.9%11.4%11.1%10.2%
    Group net profit204,986217,024218,330175,215138,258118,707
    Group net profit margin %12.5%12.9%12.9%10.2%10.2%9.7%
  • Financial and equity highlights
    [Euro ‘000]202520242023202220212020
    Net capital employed (a)1,495,2341,562,2221,426,1421,411,0711,215,0701,249,154
    Total assets2,617,9572,606,1112,357,2472,302,3101,894,9711,841,236
    Total equity1,700,6651,662,1441,480,0861,392,2951,127,9111,040,275
    Group shareholders’ equity1,580,9871,497,0581,313,4911,203,332972,593890,175
    Net interest-bearing debt-457,234-350,039-307,599-228,145-122,956785

    (a) Intangible assets + tangible assets + working capital

  • Profit and equity ratios

     

     202520242023202220212020
    Return on Equity (a)12.5%15.2%16.1%15.6%13.9%12.1%
    Return on average capital employed (ROCE) (b)13.9%14.7%16.4%13.0%12.4%10.5%
    Equity ratio (c)65.0%63.8%62.8%60.5%59.5%56.5%
    Net gearing ratio (d)-26.9%-21.1%-20.8%-16.4%-10.9%0.1%
    Net interest-bearing debt / EBITDA-1.0x-0.8x-0.7x-0.7x-0,4x0.0x

    (a) Net profit / Average equity
    (b) EBIT after effective tax rate / Net average capital employed
    (c) Total equity / Total assets
    (d) Net interest-bearing debt / Total equity

  • Cash flows
    ('000)202520242023202220212020
    Cash flows from operating activities (CFFO)340,954

    375,705

    		319,917294,425249,646250,928
    Cash flows from investing activities (CFFI)-105,822

    -173,179

    		-99,644-100,925-82,062-77,281
    Free cash flow (FCF)235,132

    202,526

    		220,273193,500167,584173,647
  • Employees
     202520242023202220212020
    Number of employees (at 31 Dec.)2,9423,0382,9693,0463,0422,951
    Number of employees in Denmark795794727783770702
  • Sales volumes
    ('000)202520242023202220212020
    Grey and white cement (tonnes)11,05010,72210,67410,84911,15610,712
    Ready-mixed concrete (m3)4,3444,5634,2664,7985,0934,435
    Aggregates (tonnes)10,40910,0669,40110,46211,0529,531
Last update: