FIVE YEAR SUMMARY FINANCIAL HIGHLIGHTS 2012 2013 2014 2015 EUR ’000 Net revenue 1,082,949 1,130,844 1,169,157 1,255,886 Profit before amortisation and depreciation 203,173 213,943 221,023 234,421 Amortisation and depreciation (41,166) (37,150) (39,006) (46,179) Profit before financials 162,007 176,793 182,017 188,242 Financial income and expenses (8,878) (11,352) (5,622) (4,778) Profit before tax 153,129 165,441 176,395 183,464 Income tax (43,102) (40,256) (40,515) (42,235) Profit for the year 110,027 125,185 135,880 141,229 Non-current assets 239,590 239,284 266,016 338,416 Current assets 520,593 533,211 658,669 609,959 Total assets 760,183 772,495 924,685 948,375 ECCO Sko A/S shareholders’ share of equity 418,427 461,611 532,229 579,376 Non-controlling interests 26,863 30,959 45,450 63,460 Liabilities 314,893 279,925 347,006 305,539 Equity and liabilities 760,183 772,495 924,685 948,375 Cashflow from operating activities 106,623 117,377 145,863 188,540 Cashflow from net investing activities (79,566) (45,678) (43,738) (51,516) Investments in property, plant, and equipment (77,460) (43,598) (43,695) (47,568) Cashflow from financing activities (43,360) (86,988) (61,421) (126,447) Number of employees (as of 31 December) 19,426 18,500 19,851 19,109 KEY RATIOS Operating margin 15.0% 15.6% 15.6% 15.0% Profit ratio 14.1% 14.6% 15.1% 14.6% Return on assets 21.1% 21.6% 20.8% 19.6% Investment ratio 1.9 1.2 1.1 1.1 Return on equity 22.6% 24.2% 23.0% 20.6% Solvency ratio 55.0% 59.8% 57.6% 61.1% Liquidity ratio 2.4 2.9 3.1 2.9 2016 1,250,919 221,453 (49,417) 172,036 (1,874) 170,162 (37,261) 132,901 330,299 692,593 1,022,892 595,551 86,652 340,689 1,022,892 196,804 (50,571) (45,069) (92,713) 20,635 13.8% 13.6% 17.3% 1.0 17.7% 58.2% 3.2 DEFINITIONS OF KEY RATIOS Operating margin: Profit before financials x 100 Return on equity: Profit for the year excl. non-controlling interests x 100 Net revenue ECCO Sko A/S shareholders’ share of average equity Profit ratio: Profit before tax x 100 Solvency ratio: ECCO Sko A/S shareholders’ share of equity x 100 Net revenue Total assets Return on assets: Profit before tax x 100 Liquidity ratio: Current assets Average assets Current liabilities Investment ratio: Investments for the year Amortisation and depreciation Financial ratios are in all essentials calculated in accordance with the Danish Society of Financial Analysts guidelines on the calculation of financial ratios, “Recommendations and Financial ratios 2015”. 4 ECCO Annual Report 2016
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