Group financial highlights for the latest 5 year
| DKKm | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| INCOME STATEMENT | |||||
| Revenue |
20,646 |
16,441 |
17,581 | 21,849 |
24,106 |
| Gross profit | 4,849 | 3,865 | 4,180 | 5,076 | 6,087 |
| EBITDA before special non-recurring items |
2,008 | 1,134 | 1,401 | 1,300 | 1,761 |
| EBITA | 1,663 | 771 | 1,030 | 943 | 1,438 |
| EBIT | 1,286 | 428 | 668 | 619 | 1,200 |
| Financial items, net |
(118) | (47) | (81) | (67) | (146) |
| EBT | 1,171 | 381 | 587 | 552 | 1,054 |
| Profit/loss for the year, continuing activities |
798 | 226 | 374 | 351 | 672 |
| Profit/loss for the year, discontinued activities |
(22) | (21) | (17) | 1 | (181) |
| Profit/loss for the year |
776 | 205 | 357 | 352 | 491 |
| ORDERS | |||||
| Order intake (gross), continuing activities |
19,554 | 18,524 | 19,233 | 24,644 | 21,376 |
| Order backlog, continuing activities |
14,192 | 14,874 | 16,592 | 23,541 | 17,593 |
| EARNING RATIOS | |||||
| Gross margin |
23.5 % | 23.5% | 23.8% | 23.2% | 25.3% |
| EBITDA margin before special non-recurring items |
9.7 % | 6.9% | 8.0% | 5.9% | 7.3% |
| EBITA margin |
8.1 % | 4.7% | 5.9% | 4.3% | 6.0% |
| EBIT margin |
6.2 % | 2.6% | 3.8% | 2.8% | 5.0% |
| EBT margin |
5.7 % | 2.3% | 3.3% | 2.5% | 4.4% |
| CASH FLOW | |||||
| CFFO | 948 | 1,421 | 1,449 | 968 | 623 |
| Acquisitions of tangible assets |
(177) | (171) | (116) | (88) | (176) |
| CFFI | (661) | (376) | (273) | (2,310) | (257) |
| Free cash flow |
287 | 1,045 | 1,176 | (1,342) | 366 |
| Free cash flow adjusted for acquisitions and disposals of enterprises and activities |
574 | 1,082 | 1,185 | 777 | 201 |
| BALANCE SHEET | |||||
| Net working capital |
2,739 | 1,752 | 1,058 | 1,893 | 1,382 |
| Net interest-bearing debt (NIBD) |
(2,492) | (1,808) | 889 | (726) | (639) |
| Total assets |
23,532 | 20,456 | 23,053 | 29,845 | 27,011 |
| Equity |
8,793 | 8,130 | 10,368 | 10,787 | 10,828 |
| Dividend to shareholders, proposed |
0 | 103 | 173 | 173 | 231 |
| FINANCIAL RATIOS |
|||||
| CFFO / Revenue |
4.6 % | 8.6% | 8.2% | 4.4% | 2.5% |
| Book-to-bill |
94.7 % | 112.7% | 109.4% | 112.8% | 88.7% |
| Order backlog / Revenue |
68.7 % | 90.5% | 94.4% | 107.7% | 73.0% |
| Return on equity |
9.1 % | 2.4% | 3.9% | 3.3% | 4.5% |
| Equity ratio |
37.4 % | 39.7% | 45.0% | 36.1% | 40.1% |
| ROCE, average |
10.9 % | 5.1% | 7.2% | 5.9% | 8.2% |
| Net working capital ratio, end |
13.3 % | 10.7% | 6.0% | 7.8% | 5.7% |
| NIBD/EBITDA |
1.2 | 1.6 | (0.6) | 0.6 | 0.4% |
| Capital employed, average |
15,251 | 15,195 | 14,384 | 15,888 | 17,552 |
| Number of employees |
11,765 | 10,639 | 10,117 | 10,977 | 9,377 |
| SHARE RATIOS | |||||
| CFPS (cash flow per share), (diluted) |
18.9 | 28.3 | 27.8 | 17.0 | 10.9 |
| EPS (earnings per share), (diluted) |
15.5 | 4.2 | 6.9 | 6.5 | 8.7 |
| Dividend yield |
0.0 | 0.9 | 1.2 | 1.2 | 1.4 |
| Dividend per share, proposed | 0 | 2 | 3 | 3 | 4 |
| Share price |
265.4 | 232.8 | 244.3 | 251.7 | 287.2 |
| Number of shares (1,000), end |
51,250 | 51,250 | 57,650 | 57,650 | 57,650 |
| Market capitalisation |
13,602 | 11,931 | 14,084 | 14,511 | 16,557 |
| SUSTAINABILITY KEY FIGURES | |||||
| Spend with suppliers with science-based targets** | 4.9% | 7.7% | 12.6% | ||
| Safety, Total recordable incident rate (TRIR)** | 1.6 | 1.0 | 1.9 | 1.5 | 2.7 |
| Quality, Delivery in full on time (DIFOT) | 88.0% | 88.3% | 85.1% | 81.9% | 81.9% |
| Scope 1 & 2 greenhouse gas emissions (tCO2e) market-based | 41,155 | 34,737 | 39,079* | 38,022 | |
| Scope 3: Economic intensity | Use of sold products (GHGs in tonnes CO2e/DKKm order intake)** |
9,248** | 10,348*** | 5,461** | 5,430 | |
| Water withdrawal (m3) | 221,613 | 197,346 | 201,997 | 178,064 | 167,610 |
| Suppliers assessed for sustainability | 689 | 390 | 641 | 676 | |
| Women managers | 11.2% | 13.1% | 14.3% | 14.3% | 16.3% |
Use of alternative performance measures
Throughout the report we present financial measures which are not defined according to IFRS. We have included additional information in note 7.4 Alternative performance measures and 7.8 Definition of terms.
The financial ratios have been computed in accordance with the guidelines of the Danish Finance Society. Refer to note 7.8 for definitions of terms.
*Mining Technologies is included for the last four months of 2022. 2022 Scope 1 and 2 (market based) was updated to reflect Mining Technologies.
**Sustainability key figures are from our Sustainability Report. Starting in 2018, TRIR is including contractors. Spend with suppliers with science-based targets was tracked for the first time in 2021. Scope 3 economic intensity was a new target introduced in 2021 using 2019 data as baseline. No data was tracked for economic intensity in 2020. 2019 baseline has been recalculated to include Mining Technologies which is reflected in 2022 reported number.
***Reported lifetime greenhouse gas emissions for 2021 have been recalculated by 631 tonnes CO₂e due to two orders moved from 2021 to 2022 to align with the effective Order Intake date
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