Annual Report 2022

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Creating tomorrow’s solutions

Multiyear Overview

 

 

 

 

 

€ million

 

2022

 

Change
in %

 

2021

 

2020

 

2019

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

8,209.3

 

32.2

 

6,207.5

 

4,692.2

 

4,927.6

 

4,978.8

Income before taxes

 

1,616.2

 

47.8

 

1,093.6

 

217.9

 

-591.2

 

324.4

Net income for the year

 

1,281.6

 

54.8

 

827.8

 

202.3

 

-629.6

 

260.1

EBITDA

 

2,080.9

 

35.3

 

1,538.5

 

666.3

 

783.4

 

930.0

EBIT

 

1,678.8

 

48.0

 

1,134.3

 

262.8

 

-536.3

 

389.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed assets

 

4,186.3

 

24.1

 

3,372.7

 

3,136.5

 

3,494.1

 

4,324.5

Intangible assets

 

213.0

 

>100

 

45.9

 

21.1

 

29.4

 

38.3

Property, plant and equipment

 

2,717.9

 

10.2

 

2,466.9

 

2,393.2

 

2,652.6

 

3,527.0

Right-of-use assets

 

243.2

 

75.2

 

138.8

 

110.8

 

119.8

 

Financial assets

 

1,012.2

 

40.4

 

721.1

 

611.4

 

692.3

 

759.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets, incl. deferred taxes + prepaid expenses

 

5,215.1

 

9.5

 

4,761.6

 

3,814.0

 

2,996.9

 

2,794.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liquidity1

 

1,956.2

 

-1.4

 

1,983.3

 

1,338.0

 

545.2

 

383.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

5,030.7

 

62.3

 

3,100.4

 

1,691.8

 

2,029.0

 

3,145.5

Subscribed capital

 

260.8

 

 

260.8

 

260.8

 

260.8

 

260.8

Capital reserves

 

158.9

 

1.0

 

157.4

 

157.4

 

157.4

 

157.4

Treasury shares

 

-45.1

 

 

-45.1

 

-45.1

 

-45.1

 

-45.1

Retained earnings, consolidated net income, other equity items

 

4,489.2

 

69.7

 

2,645.4

 

1,252.1

 

1,593.8

 

2,714.1

Non-controlling interests

 

166.9

 

>100

 

81.9

 

66.6

 

62.1

 

58.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowed capital

 

4,370.7

 

-13.2

 

5,033.9

 

5,258.7

 

4,462.0

 

3,973.2

Provisions

 

1,021.0

 

-51.0

 

2,082.9

 

3,016.0

 

2,525.0

 

2,051.1

Liabilities, incl. deferred taxes + deferred income

 

3,349.7

 

13.5

 

2,951.0

 

2,242.7

 

1,937.0

 

1,922.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Net financial debt (–)
Net financial receivables (+)

 

409.2

 

-25.1

 

546.5

 

-67.5

 

-713.7

 

-609.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

9,401.4

 

15.6

 

8,134.3

 

6,950.5

 

6,491.0

 

7,118.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees (average for the year)

 

15,262

 

6.3

 

14,352

 

14,401

 

14,751

 

14,301

Employees (Dec. 31)

 

15,725

 

9.2

 

14,406

 

14,283

 

14,658

 

14,542

 

 

 

 

 

 

 

 

 

 

 

 

 

Key profitability figures

 

 

 

 

 

 

 

 

 

 

 

 

Return on sales (EBIT) = EBIT/sales (%)

 

20.5

 

12.0

 

18.3

 

5.6

 

-10.9

 

7.8

Return on sales (EBITDA) = EBITDA/sales (%)

 

25.4

 

2.4

 

24.8

 

14.2

 

15.9

 

18.7

Return on equity = net income for the year/equity (as of Dec. 31) (%)

 

25.5

 

-4.6

 

26.7

 

12.0

 

-31.0

 

8.3

ROCE-return on capital employed = EBIT/capital employed (%)

 

34.7

 

22.6

 

28.3

 

5.6

 

-11.3

 

5.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Key statement-of-financial-position figures

 

 

 

 

 

 

 

 

 

 

 

 

Investment intensity of fixed assets = fixed assets/total assets (%)

 

44.5

 

7.3

 

41.5

 

45.1

 

53.8

 

60.7

Equity ratio = equity/total assets (%)

 

53.5

 

40.4

 

38.1

 

24.3

 

31.3

 

44.2

Capital structure = equity/borrowed capital (%)

 

115.1

 

86.9

 

61.6

 

32.2

 

45.5

 

79.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow and capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow from operating activities

 

1,125.5

 

5.7

 

1,064.4

 

873.7

 

605.0

 

509.6

Cash flow from long-term investing activities – before securities

 

-686.7

 

>100

 

-303.6

 

-176.0

 

-420.6

 

-423.4

Cash flow from financing activities

 

-458.5

 

>100

 

-153.9

 

117.1

 

-26.2

 

-240.5

Net cash flow = CF from operating activities + CF from investing activities – additions from finance leases

 

438.8

 

-42.3

 

760.8

 

697.7

 

184.4

 

86.2

Capital expenditures

 

546.8

 

59.0

 

343.8

 

224.4

 

379.5

 

460.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Share and valuation

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated net income

 

1,281.6

 

54.8

 

827.8

 

202.3

 

-629.6

 

260.1

Earnings per share (€) = consolidated net income/number of shares

 

25.18

 

55.0

 

16.24

 

3.81

 

-12.94

 

4.95

Market capitalization (total number of shares without treasury shares)

 

5,931.6

 

-9.3

 

6,537.6

 

5,799.9

 

3,360.2

 

3,929.5

Number of shares

 

49,677,983

 

 

49,677,983

 

49,677,983

 

49,677,983

 

49,677,983

Price as of reporting date (Dec. 31)

 

119.40

 

-9.3

 

131.60

 

116.75

 

67.64

 

79.10

Dividend per share (€)

 

12.00

 

50.0

 

8.00

 

2.00

 

0.50

 

2.50

Dividend yield (%)

 

8.6

 

44.1

 

6.0

 

2.9

 

0.7

 

2.1

Capital employed

 

4,526.6

 

19.7

 

3,782.2

 

4,111.4

 

5,183.5

 

4,917.0

1

Securities, fixed-term deposits, cash and cash equivalents