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Performance highlights
[Euro ‘000] 2023 2022 2021 2020 2019 2018 2017 Revenue 1,695,044 1,723,258 1,360,182 1,225,229 1,214,230 1,193,388 1,140,214 EBITDA 422,452 347,297 329,128 278,329 255,222 235,918 224,045 EBITDA margin % 24.9% 20.2% 24.2% 22.7% 21.0% 19.8% 19.6% EBIT 290,515 217,824 219,217 174,484 146,920 152,785 143,455 EBIT margin % 17.1% 12.6% 16.1% 14.2% 12.1% 12.8% 12.6% Financial income (expense) 14,003 34,584 -11,551 -12,946 -14,850 21,415 -13,242 Profit before taxes 305,290 253,303 208,484 162,109 132,380 175,250 134,998 Income taxes 77,625 52,479 57,552 37,212 37,295 32,462 15,784 Profit for the year 231,121 196,292 150,932 124,987 95,085 142,788 119,214 Profit for the period margin % 105.9% 11.4% 11.1% 10.2% 7.8% 12.0% 10.5% Group net profit 218,330 175,215 138,258 118,707 90,576 136,331 116,838 Group net profit margin % 12.9% 10.2% 10.2% 9.7% 7.5% 11.4% 10.2% -
Financial and equity highlights
[Euro ‘000] 2023 2022 2021 2020 2019 2018 2017 Net capital employed (a) 1,426,142 1,411,071 1,215,070 1,249,154 1,352,065 1,308,514 1,150,826 Total assets 2,357,247 2,302,310 1,894,971 1,841,236 1,909,930 1,828,792 1,639,339 Total equity 1,480,086 1,392,295 1,127,911 1,040,275 1,020,876 927,639 783,763 Group shareholders’ equity 1,313,491 1,203,332 972,593 890,175 849,752 767,571 695,275 Net interest-bearing debt -307,599 -228,145 -122,956 785 138,819 195,279 185,360 (a) Intangible assets + tangible assets + working capital
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Profit and equity ratios
2023 2022 2021 2020 2019 2018 2017 Return on Equity (a) 16.1% 15.6% 13.9% 12.1% 9.8% 16.7% 15.4% Return on average capital employed (ROCE) (b) 16.4% 13.0% 12.4% 10.5% 8.4% 9.9% 12.1% Equity ratio (c) 62.8% 60.5% 59.5% 56.5% 53.5% 50.7% 47.8% Net gearing ratio (d) -20.8% -16.4% -10.9% 0.1% 13.6% 21.1% 23.7% Net interest-bearing debt / EBITDA -0.7x
-0.7x -0,4x 0.0x 0.5x 0.8x 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) 2023 2022 2021 2020 2019 2018 2017 Cash flows from operating activities (CFFO) 319,917 294,425 249,646 250,928 209,113 140,912 168,281 Cash flows from investing activities (CFFI) -99,644 -100,925 -82,062 -77,281 -28,812 -172,850 -89,610 Free cash flow (FCF) 220,273 193,500 167,584 173,647 180,301 -31,938 78,671 -
Employees
2023 2022 2021 2020 2019 2018 2017 Number of employees (at 31 Dec.) 2,969 3,046 3,042 2,951 2,969 3,012 2,939 Number of employees in Denmark 727 783 770 702 727 720 735 -
Sales volumes
('000) 2023 2022 2021 2020 2019 2018 2017 Grey and white cement (tonnes) 10,674 10,849 11,156 10,712 9,544 9,745 10,110 Ready-mixed concrete (m3) 4,266 4,798 5,093 4,435 4,116 4,919 4,948 Aggregates (tonnes) 9,401 10,462 11,052 9,531 9,710 9,953 9,335
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