Reebok 2015 Annual Report Download - page 3

FINANCIAL HIGHLIGHTS 2015 IFRS
2015 2014 Change
Operating Highlights (€ in millions)
Net sales 116,915 14,534 16.4%
EBITDA 11,475 1,283 15.0%
Operating profit 1, 3, 4 1,094 961 13.8%
Net income from continuing operations 1, 3, 4 720 642 12.2%
Net income attributable to shareholders 2, 3, 4 668 568 17.6%
Key Ratios (%)
Gross margin 148.3% 47.6% 0.6pp
Operating expenses in % of net sales 143.1% 42.7% 0.4pp
Operating margin 1, 3, 4 6.5% 6.6% (0.1pp)
Effective tax rate 1, 3, 4 32.9% 29.7% 3.2pp
Net income attributable to shareholders in % of net sales 2, 3, 4 4.0% 3.9% 0.0pp
Average operating working capital in % of net sales 120.5% 22.4% (1.9pp)
Equity ratio 42.5% 45.3% (2.8pp)
Net borrowings/EBITDA 10.3 0.1 n.a.
Financial leverage 8.1% 3.3% 4.8pp
Return on equity 211.2% 8.7% 2.5pp
Balance Sheet and Cash Flow Data (€ in millions)
Total assets 13,343 12,417 7.5%
Inventories 3,113 2,526 23.2%
Receivables and other current assets 3,003 2,861 4.9%
Working capital 2,133 2,970 (28.2%)
Net borrowings 460 185 148.9%
Shareholders' equity 5,666 5,624 0.7%
Capital expenditure 513 554 (7.4%)
Net cash generated from operating activities 21,090 701 55.5%
Per Share of Common Stock (€)
Basic earnings 2, 3, 4 3.32 2.72 21.9%
Diluted earnings 2, 3, 4 3.32 2.72 21.9%
Net cash generated from operating activities 25.41 3.36 61.1%
Dividend 1.60 51.50 6.7%
Share price at year-end 89.91 57.62 56.0%
Other (at year-end)
Number of employees 155,555 53,731 3.4%
Number of shares outstanding 200,197,417 204,327,044 (2.0%)
Average number of shares 201,536,418 208,776,457 (3.5%)
1 Figures reflect continuing operations as a result of the divestiture of the Rockport business.
2 Includes continuing and discontinued operations.
3 2015 excluding goodwill impairment of € 34 million.
4 2014 excluding goodwill impairment of € 78 million.
5 Subject to Annual General Meeting approval.
FINANCIAL HIGHLIGHTS2015