Reebok 2013 Annual Report Download - page 4

FINANCIAL HIGHLIGHTS
2013
1) Excluding goodwill impairment of € 52 million in 2013.
2) Excluding goodwill impairment of € 265 million in 2012.
3) Subject to Annual General Meeting approval.
01 / Financial Highlights (IFRS)
2013 2012 Change
Operating Highlights (€ in millions)
Net sales 14,492 14,883 (2.6%)
EBITDA 1,523 1,445 5.4%
Operating profit 1) 2) 1,254 1,185 5.8%
Net income attributable to shareholders 1) 2) 839 791 6.0%
Key Ratios (%)
Gross margin 49.3% 47.7% 1.5pp
Operating expenses in % of net sales 42.3% 41.3% 1.0pp
Operating margin 1) 2) 8.7% 8.0% 0.7pp
Effective tax rate 1) 2) 29.0% 29.3% (0.3pp)
Net income attributable to shareholders in % of net sales 1) 2) 5.8% 5.3% 0.5pp
Average operating working capital in % of net sales 20.9% 20.0% 0.9pp
Equity ratio 47.3% 45.5% 1.8pp
Net borrowings/EBITDA (0.2) (0.3)
Financial leverage (5.4%) (8.5%) 3.1pp
Return on equity 14.3% 9.9% 4.4pp
Balance Sheet and Cash Flow Data (€ in millions)
Total assets 11,599 11,651 (0.4%)
Inventories 2,634 2,486 5.9%
Receivables and other current assets 2,583 2,444 5.7%
Working capital 2,125 2,504 (15.1%)
Net cash 295 448 (34.3%)
Shareholders’ equity 5,489 5,304 3.5%
Capital expenditure 479 434 10.4%
Net cash generated from operating activities 634 942 (32.7%)
Per Share of Common Stock (€)
Basic earnings 1) 2) 4.01 3.78 6.0%
Diluted earnings 1) 2) 4.01 3.78 6.0%
Net cash generated from operating activities 3.03 4.50 (32.7%)
Dividend 1.50 3) 1.35 11.1%
Share price at year-end 92.64 67.33 37.6%
Other (at year-end)
Number of employees 50,728 46,306 9.5%
Number of shares outstanding 209,216,186 209,216,186 —
Average number of shares 209,216,186 209,216,186 —