Key Figures

DKKm	2006/07	2007/08	2008/09	2009/10	2010/11

Key figures
Revenue	715	784	877	940	983
EBITDA before special items ¹⁾	115	138	167	179	201
Operating profit (EBIT) before special items	74	94	110	118	144
Operating profit (EBIT)	69	86	76	116	111
Net financials	(15)	(18)	(3)	0	(13)
Profit before tax (PBT)	54	68	74	116	98
Net profit for the year	43	50	56	84	69


Toal assets at year-end	681	732	782	876	889
Equity at year-end	418	452	480	562	580
Share capital	119	119	119	119	119



Investments in non-current assets and acquisitions	56	49	96	68	44
Depreciation, amortisations and impairment losses on non-current assets	41	45	56	61	56
Cash flows from operating activities	90	84	113	99	102
Free cash flow	33	36	18	31	64



Average no. of employees	1,216	1,397	1,608	1,728	1,637


Ratios
EBITDA margin before special items, % ²⁾	16.1	17.6	19.0	19.0	20.4
EBIT margin before special items. % ³⁾	10.3	12.0	12.6	12.6	14.7
Return on assets, % ⁴⁾	10.8	12.8	14.1	13.5	16.2
Return on equity, % ⁵⁾	10.6	11.5	12.0	16.1	12.1
Equity ratio, % ⁶⁾	61	62	61	64	65
Earnings per DKK 10 share ⁷⁾	3.62	4.24	4.73	7.16	5.92
Equity value per share ⁸⁾	35	38	40	47	49
Share price at year-end	87	73	110	136	139
CAPEX, % ⁹⁾	7.8	6.2	10.9	7.2	4.5
ROIC, % ¹⁰⁾	9.1	11.4	13.4	13.2	14.9
NIBD/EBITDA ¹¹⁾	1.2	0.9	0.7	0.6	0.5

¹⁾EBITDA: Operating profit before ordinary depreciation, amortisation and special items
²⁾EBITDA margin: EBITDA before special items in % of revenue
³⁾EBIT margin: Operating profit before special items in % of revenue
⁴⁾Return on assets: Operating profit before special items in % of total assets
⁵⁾Return on equity: Ordinary profit after tax in relation to average equity
⁶⁾Equity ratio: Total liabilities in relation to equity at year-end
⁷⁾Earnings per DKK 10 share: Profit after tax in relation to average no. of shares less treasury shares
⁸⁾Equity value of shares: Total equity in relation to no. of shares at year-end
⁹⁾CAPEX: Investments in fixed assets and acquististions in relation to revenue
¹⁰⁾ROIC: EBIT before special items less tax in relation to assets less non-interest-carrying debt
¹¹⁾NIBD: Net interest-bearing debt

The rations have been calculated in accordance with The Danish Society of Financial Analysts' 'Recommendations and Financial Ratios 2010'.

Key Figures

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