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Financial Year 2024
Third Quarter
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Second Quarter
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First Quarter
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Annual Reports
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Five-year overview – operating performance
| (in CHF million) | 2019 | 2020 | 2021 | 2022 | 2023 |
| Net revenue | 1 596.2 | 1 425.9 | 2 021.9 | 2 320.8 | 2 411.8 |
| Growth in % | 17. 1 | (10.7) | 41.8 | 14.8 | 3.9 |
| Gross profit | 1 200.5 | 1 029.8 | 1 540.0 | 1 754.7 | 1 787.3 |
| Margin in % | 75.2 | 72.2 | 76.2 | 75.6 | 74.1 |
| Operating result before depreciation and amortization (EBITDA) | 480.6 | 406.0 | 652.4 | 701.8 | 700.5 |
| Margin in % | 30.1 | 28.5 | 32.3 | 30.2 | 29.0 |
| Growth in % | 21.7 | (15.5) | 60.7 | 7.6 | (0.2) |
| Operating profit (EBIT) | 387.1 | 156.5 | 542.6 | 535.3 | 411.0 |
| Margin in % | 24.3 | 11.0 | 26.8 | 23.1 | 17.0 |
| Growth in % | 13.0 | (59.6) | 246.6 | (1.3) | (23.2) |
| Net profit | 308.0 | 92.3 | 399.3 | 434.8 | 246.8 |
| Margin in % | 19.3 | 6.5 | 19.7 | 18.7 | 10.2 |
| Growth in % | 10.9 | (70.0) | 332.7 | 8.9 | (43.2) |
| Basic earnings per share (in CHF) | 1.93 | 0.57 | 2.49 | 2.73 | 1.54 |
| Value added / economic profit1 | 208.6 | (30.6) | 250.3 | 258.6 | 66.2 |
| Change in value added | 18.9 | (239.1) | 280.9 | 8.3 | (192.4) |
| Change in value added in % | 10.0 | (114.7) | 919.0 | 3.3 | (74.4) |
| as a % of net revenue | 13.1 | (2.1) | 12.4 | 11.1 | 2.7 |
| Number of employees (year-end) | 7 590 | 7 340 | 9 054 | 10 478 | 11 109 |
| Number of employees (average) | 6 837 | 7 409 | 8 256 | 10 203 | 10 755 |
| Sales per employee (average) in CHF 1 000 | 233 | 192 | 245 | 227 | 224 |
1 Figures as reported in the financial reports
Five-year overview – financial performance
| (in CHF million) | 2019 | 2020 | 2021 | 2022 | 2023 |
| Cash and cash equivalents | 260.2 | 632.2 | 880.4 | 696.1 | 410.3 |
| Net Cash (Net Debt) | 20.2 | 116.2 | 376.1 | 207.5 | 172.3 |
| Net working capital (net of cash) | 265.6 | 168.0 | 124.0 | 229.3 | 287.1 |
| as a % of revenue | 16.6 | 11.8 | 6.1 | 9.9 | 11.9 |
| Inventories | 234.6 | 216.6 | 249.2 | 321.2 | 366.9 |
| Days of supplies | 175 | 160 | 166 | 191 | 193 |
| Trade receivables | 281.2 | 236.0 | 287.3 | 416.4 | 466.5 |
| Days of sales outstanding | 57 | 47 | 48 | 63 | 67 |
| Balance sheet total | 2 390.0 | 2 548.6 | 2 698.0 | 3 373.4 | 3 322.0 |
| Return on assets in % (ROA) – IFRS | 13.6 | 3.9 | 14.3 | 13.6 | 7.3 |
Return on assets in % (ROA) – CORE |
15.3 | 10.9 | 16.3 | 15.0 | 13.0 |
| Equity | 1 367. 2 | 1 209.9 | 1 500.4 | 1 853.8 | 1 838.6 |
| Equity ratio in % | 57.2 | 47. 5 | 50.6 | 55.0 | 55.3 |
| Return on equity in % (ROE) – IFRS | 24.0 | 7.7 | 28.8 | 24.9 | 12.8 |
| Return on equity in % (ROE) – CORE | 26.3 | 21.8 | 32.8 | 27.6 | 22.9 |
| Capital employed | 1 455.0 | 1 190.3 | 1 174.6 | 1 600.5 | 1 639.7 |
| Return on capital employed in % (ROCE) – IFRS | 28.4 | 11.9 | 43.7 | 35.1 | 23.7 |
| Return on capital employed in % (ROCE) – CORE | 30.9 | 25.4 | 44.6 | 39.5 | 35.0 |
| Cash generated from operating activities | 378.5 | 376.6 | 560.3 | 415.2 | 503.9 |
| as a % of revenue | 23.7 | 26.4 | 27.7 | 17.9 | 20.9 |
| Investments | (239.3) | (140.4) | (167.8) | (440.4) | (369.8) |
| as a % of net revenue | 15.0 | 9.8 | 8.3 | 19.0 | 15.3 |
| thereof capital expenditures | (149.9) | (82.1) | (121.0) | (195.4) | (189.4) |
| thereof business combinations related | (77. 1) | (55.1) | (39.7) | (157.6) | (171.6) |
| thereof investments in associates | (12.3) | (3.2) | (7.1) | (87.3) | (8.7) |
| Free cash flow | 229.6 | 295.2 | 440.6 | 220.8 | 315.5 |
| as a % of revenue | 14.4 | 20.7 | 21.8 | 9.5 | 13.1 |
| Dividend | 91.2 | 91.3 | 107.41 | 127.5 | 135.51 |
| Dividend per share (in CHF) | 5.75 | 5.75 | 6.75 | 0.80 | 0.851 |
| Pay-out ratio in % (core results) | 27.1 | 35.5 | 23.7 | 26.4 | 30.8 |
1 To be proposed to the shareholders' AGM in 2024.