Financial Report – Consolidated financial statements
Alternative performance measures
In this Annual Report, Zehnder Group reports financial key figures that are not defined according to Swiss GAAP FER. These alternative performance measures are intended to aid the management team as well as analysts and investors in forming a clearer understanding of the Group’s performance.
The following definitions and calculation bases of Zehnder Group may differ from those employed by other companies.
|
Alternative performance measure |
Definition |
|
Calculation basis/reconciliation EUR million |
2023 |
2022 |
|
Organic sales growth |
Organic sales growth measures the growth that the Group is able to achieve on its own. Organic sales equate to sales that have been adjusted for acquisition effects and which took place at constant exchange rates. |
|
Sales |
762.1 |
812.5 |
|
Currency effects |
10.1 |
–13.8 |
|||
|
Acquisition effects |
–12.7 |
–55.0 |
|||
|
Organic sales |
759.6 |
743.7 |
|||
|
Organic sales growth/(decline) in % |
–6.5 |
6.7 |
|||
|
EBITDA |
Earnings before interest, taxes, depreciation and amortisation (EBITDA) is a key figure used to measure the performance of the Group. |
|
Operating result (EBIT) |
60.2 |
71.4 |
|
Depreciation of property, plant and equipment |
23.6 |
23.0 |
|||
|
Amortisation of intangible assets |
1.0 |
0.9 |
|||
|
EBITDA |
84.8 |
95.3 |
|||
|
ROCE |
The return on capital employed (ROCE) measures the profitability and efficiency of the Group’s capital utilisation. The net operating profit after tax (NOPAT) is compared with the capital employed (CE). |
|
Trade accounts receivable |
97.9 |
120.3 |
|
Other receivables |
18.5 |
22.2 |
|||
|
Inventories |
90.2 |
100.0 |
|||
|
Prepayments |
1.5 |
1.6 |
|||
|
Accrued income |
5.1 |
4.9 |
|||
|
Trade accounts payable |
–41.8 |
–51.6 |
|||
|
Other short-term liabilities |
–28.5 |
–30.8 |
|||
|
Accruals and deferred income |
–62.9 |
–70.1 |
|||
|
Short-term provisions |
–9.2 |
–7.5 |
|||
|
Long-term provisions |
–20.0 |
–21.7 |
|||
|
Other long-term liabilities |
–0.6 |
–0.6 |
|||
|
Non-current assets |
226.4 |
228.6 |
|||
|
Capital employed (CE) |
276.6 |
295.4 |
|||
|
Operating result (EBIT) |
60.2 |
71.4 |
|||
|
Expected income taxes |
–12.9 |
–15.4 |
|||
|
Net operating profit after tax (NOPAT) |
47.2 |
55.9 |
|||
|
ROCE in % |
17.1 |
18.9 |
|||
|
Net liquidity/(net debt) |
Net liquidity or debt is a key figure used to measure the Group’s financial liquidity or debt. |
|
Liquid assets |
77.2 |
55.1 |
|
Short-term financial liabilities |
–1.7 |
–2.1 |
|||
|
Long-term financial liabilities |
–4.7 |
–7.7 |
|||
|
Net liquidity/(net debt) |
70.8 |
45.4 |