• Performance highlights
    [Euro ‘000]2024202320222021202020192018
    Revenue1,687,1901,695,0441,723,2581,360,1821,225,2291,214,2301,193,388
    EBITDA431,656422,452347,297329,128278,329255,222235,918
    EBITDA margin %25.6%24.9%20.2%24.2%22.7%21.0%19.8%
    EBIT287.162290,515217,824219,217174,484146,920152,785
    EBIT margin %17.0%17.1%12.6%16.1%14.2%12.1%12.8%
    Financial income (expense)24,28714,00334,584-11,551-12,946-14,85021,415
    Profit before taxes312,603305,290253,303208,484162,109132,380175,250
    Income taxes74,56377,62552,47957,55237,21237,29532,462
    Profit for the year238,040231,121196,292150,932124,98795,085142,788
    Profit for the period margin %109.7%105.9%11.4%11.1%10.2%7.8%12.0%
    Group net profit217,024218,330175,215138,258118,70790,576136,331
    Group net profit margin %12.9%12.9%10.2%10.2%9.7%7.5%11.4%
  • Financial and equity highlights
    [Euro ‘000]2024202320222021202020192018
    Net capital employed (a)1,562,2221,426,1421,411,0711,215,0701,249,1541,352,0651,308,514
    Total assets2,606,1112,357,2472,302,3101,894,9711,841,2361,909,9301,828,792
    Total equity1,662,1441,480,0861,392,2951,127,9111,040,2751,020,876927,639
    Group shareholders’ equity1,497,0581,313,4911,203,332972,593890,175849,752767,571
    Net interest-bearing debt-350,039-307,599-228,145-122,956785138,819195,279

    (a) Intangible assets + tangible assets + working capital

  • Profit and equity ratios

     

     2024202320222021202020192018
    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-0,4x0.0x0.5x0.8x

    (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)2024202320222021202020192018
    Cash flows from operating activities (CFFO)

    375,705

    319,917294,425249,646250,928209,113140,912
    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

    220,273193,500167,584173,647180,301-31,938
  • Employees
     2024202320222021202020192018
    Number of employees (at 31 Dec.)3,0382,9693,0463,0422,9512,9693,012
    Number of employees in Denmark794727783770702727         720
  • Sales volumes
    ('000)2024202320222021202020192018
    Grey and white cement (tonnes)10,72210,67410,84911,15610,7129,5449,745
    Ready-mixed concrete (m3)4,5634,2664,7985,0934,4354,1164,919
    Aggregates (tonnes)10,0669,40110,46211,0529,5319,7109,953
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