Ten-year Overview

Financial performance

in € million 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Net sales 6,144.5 4,925.5 4,797.8 4,042.3 3,898.0 3,889.2 3,761.0 3,631.6 3,838.5 3,823.0
Research and development costs 1 302.4 279.1 262.3 237.4 243.6 233.4 217.6 221.4 203.0 212.3
EBITDA 768.5 435.7 532.1 333.4 280.3 372.7 335.7 251.9 310.5 327.9
EBIT 567.6 189.7 384.9 185.6 164.0 256.8 215.2 129.0 196.8 194.4
Income before taxes 522.3 166.3 357.1 158.1 135.7 225.7 184.5 93.5 157.7 155.1
Net income 347.1 88.1 272.6 107.1 96.3 152.0 115.4 37.6 105.7 113.1
Return on sales (in %) 8.5 3.4 7.4 3.9 3.5 5.8 4.9 2.6 4.1 4.1
Return on equity (in %) 16.5 4.8 15.9 7.3 6.8 10.9 8.9 3.2 8.6 9.6
Foreign sales (in %) 79.8 80.3 80.6 80.1 79.5 78.5 79.1 78.6 77.2 77.2

Cash flow / investments / depreciation and amortization

in € million 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Cash flow from operating activities 289.3 225.5 580.5 478.4 45.9 85.0 345.0 246.0 156.5 50.4
Free cash flow 84.6 22.2 381.5 308.1 - 138.2 - 83.9 209.6 118.5 38.8 - 136.9
Capital expenditure 2 207.7 200.6 194.0 187.2 183.3 160.3 130.7 122.2 128.3 173.2
Depreciation and amortization / impairment 3 172.5 220.4 121.0 121.4 128.8 112.7 116.2 102.8 111.3 133.3

Asset / capital structure

in € million 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Non-current assets 1,426.1 1,362.2 1,389.2 1,293.9 1,183.0 1,066.8 995.6 1,002.0 993.0 942.5
thereof: capitalized development costs 272.0 251.4 245.6 232.5 219.2 194.3 183.2 174.9 160.9 141.8
thereof: property, plant and equipment 627.2 613.8 612.2 561.6 541.8 501.5 476.2 480.5 480.7 486.2
Current assets 3,727.7 3,204.0 2,856.9 2,428.6 2,348.9 2,382.9 2,237.1 2,135.2 2,350.2 2,170.6
thereof: inventories 1,438.6 1,348.8 926.5 905.8 1,103.5 959.7 683.9 733.0 873.1 934.9
thereof: liquidity 1,268.2 1,041.8 1,237.9 907.7 669.7 803.4 937.7 842.4 851.3 699.2
Equity 2,104.8 1,847.9 1,717.1 1,464.1 1,417.3 1,395.5 1,293.8 1,160.7 1,231.0 1,183.2
Equity ratio (in %) 40.8 40.5 40.4 39.3 40.1 40.5 40.0 37.0 36.8 38.0
Non-current liabilities 1,085.2 790.7 995.1 1,130.2 837.7 958.4 938.8 1,060.2 981.1 656.1
Current liabilities 1,963.8 1,927.6 1,533.9 1,128.2 1,276.9 1,095.8 1,000.2 916.3 1,131.1 1,273.8
Total assets 5,153.8 4,566.1 4,246.1 3,722.5 3,531.9 3,449.7 3,232.8 3,137.2 3,343.2 3,113.1
Net liquidity 410.3 430.0 480.5 148.4 19.2 197.9 320.3 124.0 46.7 82.7
Working capital 1,619.0 1,109.4 992.6 994.7 1,170.0 1,012.5 839.5 892.3 1,007.2 998.1
Coverage of non-current assets (in %) 223.7 193.7 195.2 200.5 190.6 220.7 224.2 221.6 222.8 195.2

Employees

  2022 2022 2021 2020 2019 2018 2017 2016 2015 2014
Number of employees as of the balance sheet date 4 12,131 12,116 11,957 11,395 11,448 11,132 10,961 11,300 11,535 11,407
Personnel expenses 954.1 891.5 819.8 742.2 730.3 693.0 673.5 653.3 650.6 627.0

1 Before capitalized, amortized, and impaired development costs.

2 Including capitalized development costs, excluding goodwill.

3 Of intangible assets (excluding goodwill) and property, plant and equipment.

4 Including apprentices.