Financial Review

2018

Profitable growth

2018 was a year of strong revenue growth and cash generation. The IPO and listing on SIX Swiss Exchange enabled us to reduce indebtedness and to refinance borrowings on attractive terms.

Core
revenue

1.64 bn

2017: €1.59bn

Adjusted
EBITDA

462 m

2017: €455m

Adjusted EBITDA
– net capex margin

19.0 %

2017: 17.5%

Adjusted
free cash flow

257 m

2017: €202m

Cash
conversion

69 %

2017: 64%


ROCE

20.6 %

2017: 20.2%

Net capex
as % revenue

8.5 %


Leverage

3.2 x

2017: 5.5x


Net debt

1.46 bn