Key figures


Audited by PwC
RESOURCE CONSUMPTION RELATIVE TO SALES DEVELOPMENT
%
FusionCharts.
Development in water consumption
Development in energy consumption
NET INVESTMENTS
%
DKK million
FusionCharts.
Net investments (DKK million)
Net investments (% of revenue)
RESEARCH AND DEVELOPMENT
%
DKK million
FusionCharts.
R&D costs (DKK million)
R&D costs (% of revenue)
NUMBER OF EMPLOYEES BY REGION
FusionCharts.
Europe/MEA
North America
Asia Pacific
Latin America

    2009 2008 2007 2006 2005  
Income statement (DKK million)
Revenue 8,448  8,146  7,438  6,802  6,281 
Research and development costs 1,207  1,096  995  880  793 
EBITDA 2,252  2,060  1,971  1,809  1,668 
Operating profit 1,688  1,504  1,481  1,340  1,206 
Financial items, net (67) (85) (96) (122) (56)
Profit before tax 1,621  1,419  1,385  1,218  1,150 
Net profit 1,194  1,062  1,042  911  861 
Balance sheet (DKK million)
Non-current assets 5,991  5,641  5,218  4,379  3,970 
Current assets 4,899  4,284  3,653  3,586  3,339 
Total assets 10,890  9,925  8,871  7,965  7,309 
Common stock 650  650  650  650  696 
Shareholders' equity 5,841  4,476  3,667  3,393  3,794 
Non-current liabilities 2,528  2,563  2,810  2,634  2,073 
Current liabilities 2,521  2,886  2,394  1,938  1,442 
Net interest-bearing debt 949  1,380  1,769  1,455  877 
Investments and cash flows (DKK million)
Cash flow from operating activities 1,817  1,697  1,714  1,534  1,326 
Cash flow from investing activities, net (978) (942) (1,467) (953) (335)
Of which investments in property, plant and equipment, net (972) (885) (721) (463) (324)
Free cash flow 839  755  247  581  991 
Cash flow from financing activities (523) 287  (631) (851) (1,136)
Net cash flow 316  1,042  (384) (270) (145)
Key ratios (%)
Revenue outside Denmark as a percentage of total revenue 98.5 98.5 98.2 98.2 96.9
Research and development costs as a percentage of revenue 14.3 13.5 13.4 12.9 12.6
EBITDA margin 26.7 25.3 26.5 26.6 26.6
Operating profit margin 20.0 18.5 19.9 19.7 19.2
Net profit margin 14.1 13.0 14.0 13.4 13.7
Effective tax rate 26.3 25.2 24.8 25.2 25.1
Equity ratio 53.6 45.1 41.3 42.6 51.9
Return on equity 23.1 26.1 29.5 25.4 22.2
ROIC including goodwill 20.3 19.5 21.7 20.2 19.3
ROIC excluding goodwill 21.8 21.2 23.4 21.1 19.8
WACC 7.0 7.4 8.1 7.5 5.9
 
Environmental and social data
Growth in water consumption % (4.3) (2.2) 11.7  7.7  0.1 
Growth in energy consumption % (5.4) 0.2  13.3  5.8  1.4 
Total waste recycled % 44.5  45.0  43.4  42.1  30.6 
Significant spills No.
Rate of employee turnover % 6.7  11.3  9.0  8.0  6.6 
Rate of absence % 2.3  2.2  2.2  2.3  2.5 
Fatalities No.
Frequency of accidents with absence per million working hours 5.1  4.9  4.8  3.7  4.6 





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