Reebok 2012 Annual Report Download - page 5

Financial Highlights
2012
1) Restated according to IAS 8, see Note 03.
2) Excluding goodwill impairment of € 265 million.
3) Subject to Annual General Meeting approval.
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Financial Highlights (IFRS)
2012 2011 1) Change
Operating Highlights (€ in millions)
Net sales 14,883 13,322 11.7%
EBITDA 1,445 1,199 20.6%
Operating profit 2) 1,185 953 24.4%
Net income attributable to shareholders 2) 791 613 29.0%
Key Ratios (%)
Gross margin 47.7% 47.5% 0.2pp
Operating expenses as a percentage of net sales 41.3% 41.8% (0.5pp)
Operating margin 2) 8.0% 7.2% 0.8pp
Effective tax rate 2) 29.3% 30.0% (0.7pp)
Net income attributable to shareholders as a percentage of net sales 2) 5.3% 4.6% 0.7pp
Average operating working capital as a percentage of net sales 20.0% 20.4% (0.4pp)
Equity ratio 45.5% 45.7% (0.2pp)
Net borrowings/EBITDA (0.3) (0.1)
Financial leverage (8.5%) (1.8%) (6.7pp)
Return on equity 9.9% 11.9% (2.0pp)
Balance Sheet and Cash Flow Data (€ in millions)
Total assets 11,651 11,237 3.7%
Inventories 2,486 2,502 (0.6%)
Receivables and other current assets 2,444 2,431 0.5%
Working capital 2,504 1,990 25.8%
Net cash 448 90 397.7%
Shareholders’ equity 5,304 5,137 3.3%
Capital expenditure 434 376 15.4%
Net cash generated from operating activities 942 807 16.7%
Per Share of Common Stock (€)
Basic earnings 2) 3.78 2.93 29.0%
Diluted earnings 2) 3.78 2.93 29.0%
Net cash generated from operating activities 4.50 3.86 16.7%
Dividend 1.35 3) 1.00 35.0%
Share price at year-end 67.33 50.26 34.0%
Other (at year-end)
Number of employees 46,306 46,824 (1.1%)
Number of shares outstanding 209,216,186 209,216,186 –
Average number of shares 209,216,186 209,216,186 –