Annual Report 2015 Corporate Website

2015 in figures

2 537 million

Order intake in 2015
(in CHF)

2 671 million

Sales in 2015
(in CHF)

Normalized1:16.9 %

Actual:12.7 %

EBITDA margin

1Excluding restructuring costs.

Normalized1:207 million

Actual:−418 million

Net result in 2015 (in CHF)

1Excluding impairments, restructuring costs, amortization of acquired intangibles (from Metco, net of tax) and results from discontinued operations.

393 million

Operating cash flow1
(in CHF)

1Before changes in net current assets.

79 million

Net cash
(in CHF)

0.61

Earnings per share in 20151
(in CHF)

1Based on normalized net result.

0.30

Dividend proposal for 2015
(in CHF)

Key figures of the Oerlikon Group

in CHF million January 1 to December 31, 2015 January 1 to December 31, 2014
Order intake1 2 537 2 647
Order backlog1 431 643
Sales1 2 671 2 825
EBITDA1, 4 338 475
– as % of sales 12.7 % 16.8 %
EBIT1, 5 -306 323
– as % of sales -11.4 % 11.4 %
Result from continuing operations2 -402 222
Result from discontinued operations, net of income taxes2, 6 –16 –20
Net result -418 202
– as % of equity attributable to shareholders of the parent -27 % 9 %
Cash flow from operating activities7 289 256
Capital expenditure for property, plant and equipment and intangible assets1 150 151
Total assets 4 097 4 966
Equity attributable to shareholders of the parent 1 554 2 188
– as % of total assets 38 % 44 %
Net cash3, 8 79 114
Net operating assets1, 9 1 875 2 486
Number of employees1 13 723 14 039
Personnel expense1 785 780
Research and development expenditure1, 10 103 96

12015 continuing operations, 2014 restated.

22014 restated.

32015 continuing operations, 2014 as reported.

4Includes one-time effects of CHF -112 million (restructuring).

5Includes one-time effects of CHF -588 million (restructuring expenses of CHF -112 million and impairment losses of CHF -476 million).

6Includes reclassification of translation differences amounting to CHF -21 million (previous year: CHF 0 million).

7Cash flow from operating activities before changes in net current assets amounts to CHF 393 million (previous year: CHF 427 million).

8Net cash includes cash and cash equivalents and marketable securities less current and non-current debt.

9Net operating assets include current and non-current operating assets (including goodwill and brands and excluding cash and cash equivalents, current financial investments, current income tax receivables and deferred tax assets) less operating liabilities (excluding current loans and borrowings, non-current financial liabilities, current income tax payables and deferred tax liabilities).

10Research and development expenditure includes expenses recognized as intangible assets in the amount of CHF 22 million (previous year, restated: CHF 12 million).

Key share-related figures1

in CHF January 1 to December 31, 2015 January 1 to December 31, 2014
Share price Year high 12.70 15.65
Year low 8.42 10.60
Year-end 8.95 12.50
Shares outstanding at year-end 339 758 576 339 758 576
Market capitalization at year-end in CHF million 3 041 4 247
EBIT per share2 -0.90 0.96
Earnings per share (reported) -1.24 0.59
Earnings per share3 0.61 0.59
Cash flow from operating activities per share 0.85 0.76
Equity per share4 4.58 6.50
Dividend per share 0.305 0.306

1Average number of shares with voting and dividend rights (undiluted).

22015 continuing operations, 2014 restated.

32015 based on normalized net result, 2014 reported.

4Attributable to shareholders of the parent.

5Dividend proposal for 2015, to be paid in 2016.

6For financial year 2014, paid in 2015.