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Performance highlights
[Euro ‘000] 2024 2023 2022 2021 2020 2019 2018 Revenue 1,687,190 1,695,044 1,723,258 1,360,182 1,225,229 1,214,230 1,193,388 EBITDA 431,656 422,452 347,297 329,128 278,329 255,222 235,918 EBITDA margin % 25.6% 24.9% 20.2% 24.2% 22.7% 21.0% 19.8% EBIT 287.162 290,515 217,824 219,217 174,484 146,920 152,785 EBIT margin % 17.0% 17.1% 12.6% 16.1% 14.2% 12.1% 12.8% Financial income (expense) 24,287 14,003 34,584 -11,551 -12,946 -14,850 21,415 Profit before taxes 312,603 305,290 253,303 208,484 162,109 132,380 175,250 Income taxes 74,563 77,625 52,479 57,552 37,212 37,295 32,462 Profit for the year 238,040 231,121 196,292 150,932 124,987 95,085 142,788 Profit for the period margin % 109.7% 105.9% 11.4% 11.1% 10.2% 7.8% 12.0% Group net profit 217,024 218,330 175,215 138,258 118,707 90,576 136,331 Group net profit margin % 12.9% 12.9% 10.2% 10.2% 9.7% 7.5% 11.4% -
Financial and equity highlights
[Euro ‘000] 2024 2023 2022 2021 2020 2019 2018 Net capital employed (a) 1,562,222 1,426,142 1,411,071 1,215,070 1,249,154 1,352,065 1,308,514 Total assets 2,606,111 2,357,247 2,302,310 1,894,971 1,841,236 1,909,930 1,828,792 Total equity 1,662,144 1,480,086 1,392,295 1,127,911 1,040,275 1,020,876 927,639 Group shareholders’ equity 1,497,058 1,313,491 1,203,332 972,593 890,175 849,752 767,571 Net interest-bearing debt -350,039 -307,599 -228,145 -122,956 785 138,819 195,279 (a) Intangible assets + tangible assets + working capital
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Profit and equity ratios
2024 2023 2022 2021 2020 2019 2018 Return on Equity (a) 15.2% 16.1% 15.6% 13.9% 12.1% 9.8% 16.7% Return on average capital employed (ROCE) (b) 14.7% 16.4% 13.0% 12.4% 10.5% 8.4% 9.9% Equity ratio (c) 63.8% 62.8% 60.5% 59.5% 56.5% 53.5% 50.7% Net gearing ratio (d) -21.1% -20.8% -16.4% -10.9% 0.1% 13.6% 21.1% Net interest-bearing debt / EBITDA -0.8x -0.7x -0.7x -0,4x 0.0x 0.5x 0.8x (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) 2024 2023 2022 2021 2020 2019 2018 Cash flows from operating activities (CFFO) 375,705
319,917 294,425 249,646 250,928 209,113 140,912 Cash flows from investing activities (CFFI) -173,179
-99,644 -100,925 -82,062 -77,281 -28,812 -172,850 Free cash flow (FCF) 202,526
220,273 193,500 167,584 173,647 180,301 -31,938 -
Employees
2024 2023 2022 2021 2020 2019 2018 Number of employees (at 31 Dec.) 3,038 2,969 3,046 3,042 2,951 2,969 3,012 Number of employees in Denmark 794 727 783 770 702 727 720 -
Sales volumes
('000) 2024 2023 2022 2021 2020 2019 2018 Grey and white cement (tonnes) 10,722 10,674 10,849 11,156 10,712 9,544 9,745 Ready-mixed concrete (m3) 4,563 4,266 4,798 5,093 4,435 4,116 4,919 Aggregates (tonnes) 10,066 9,401 10,462 11,052 9,531 9,710 9,953
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