Key Figures

  • Sales CHF 4.2 billion, up 8.9% in local currencies
  • Comparable EBITDA improved to CHF 963 million, up 18.4% in local currencies
  • Comparable EBITDA margin improved to 22.7%, reaching pre-acquisition levels
  • Net income CHF 340 million, up 71%
  • Free cash flow CHF 437 million, 10.3% of sales
  • Strengthened balance sheet, net debt reduced to CHF 1,353 million
  • Tax free cash dividend of CHF 21.50 proposed
in millions of Swiss francs, except for per share data 2010 2009
Sales 4,239 3,959
Gross profit 1,956 1,780
as % of sales 46.1% 45.0%
EBITDA at comparable basis a, b 963 820
as % of sales 22.7% 20.7%
EBITDA a 887 758
as % of sales 20.9% 19.1%
Operating income at comparable basis b 655 525
as % of sales 15.5% 13.3%
Operating income 556 460
as % of sales 13.1% 11.6%
Income attributable to equity holders of the parent 340 199
as % of sales 8.0% 5.0%
Earnings per share – basic (CHF) c 37.87 25.07
Earnings per share – diluted (CHF) c 37.63 24.97
Operating cash flow 730 738
as % of sales 17.2% 18.6%

a) EBITDA: Earnings Before Interest (and other financial income (expense), net), Tax, Depreciation and Amortisation. This corresponds to operating income before depreciation, amortisation and impairment of long-lived assets and impairment on joint ventures.

b) EBITDA at comparable basis excludes impairment on restructuring expenses. Operating income at comparable basis excludes restructuring expenses and impairment of long-lived assets and impairment on joint ventures.

c) The issuance of 736,785 shares in 2010 related to the MCS conversion decreased the EPS.

6,923m Total assets (CHF); 3,477m Total liabilities (CHF); 3,446m Total equity (CHF); 730m Operating cash flow (CHF)