Share

Payout ratio

62.7% The payout ratio is in the upper range of the target corridor of 50 to 70%

Earnings per share
(in CHF) 13.28 +14.6% versus prior year

Investments/​R&D expenditures

R&D expenditures
(in CHF)

55.8 Mio. +4.9 million versus prior year

Expenditures for property, plant and equipment
(in CHF) 104.8 Mio. +6.9% versus prior year

Currency effects

EBIT
(in CHF) ≈ 11 Mio. negative currency effects

Sales
(in CHF) ≈ 34 Mio. negative currency effects

Sales

Sales +6.4% Currency-adjusted sales growth in 2014

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Results
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Cashflow

Free cashflow
(in CHF) 460.4 Mio. 3.6% above prior year's level

Operating cashflow margin
(EBITDA margin) 27.3% Above the mid-term target corridor of 23 to 25%