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Key Figures

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  31.Dec.16 31.Dec.15 31.Dec.14 31.Dec.13
Profitability and profitability-related key figures        
Order intake 216,396 229,699 220,706 245,961
Gross operating margin 8.2% 5.3% 7.2% 6.6%
Operating margin 5.8% 3.3% 5.3% 4.6%
Interest coverage 9.2x 6.0x 5.3x 8.6x
Return on average capital employed (ROACE) 3.4% 3.2% 5.8% 6.3%
Return on equity (ROE) 4.7% 4.4% 8.4% 9.7%
Capital structure and capital structure-related key figures        
Net debt (22,713) (26,695) (20,002) (36,070)
Debt/equity ratio 15.6% 19.1% 14.5% 33.2%
Equity/assets ratio 59.7% 53.8% 57.0% 49.5%
Leverage ratio 1.3x 1.7x 1.2x 2.4x

Income Statements

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Reclassified) Year Ending Dec 2013 (Update)
Net Sales 212.36 211.52 232.22 235.46 227.70
Revenue 212.36 211.52 232.22 235.46 227.70
Other Revenue
Other Revenue, Total
Total Revenue 212.36 211.52 232.22 235.46 227.70
Cost of Revenue 184.86 157.19 193.94 183.86 192.16
Cost of Revenue, Total 184.86 157.19 193.94 183.86 192.16
Gross Profit 27.50 54.33 38.28 51.59 35.54
Selling/General/Administrative Expense 25.36 5.74 5.82 5.15
Advertising Expense
Selling/General/Administrative Expenses, Total 25.36 5.74 5.82 5.15
Depreciation 4.33 5.09 4.77 4.47 4.52
Depreciation/Amortization 4.33 5.09 4.77 4.47 4.52
Impairment-Assets Held for Use 19.99
Loss (Gain) on Sale of Assets - Operating
Unusual Expense (Income) 19.99
Other Operating Expense 39.96 26.08 40.01 21.26
Other, Net -4.19 -8.75 -5.98 -5.45 -5.89
Other Operating Expenses, Total -4.19 31.21 20.10 34.56 15.36
Total Operating Expense 230.36 199.24 224.63 222.90 217.20
Operating Income -18.00 12.28 7.60 12.56 10.51
Interest Expense - Non-Operating -1.38 -1.53 -1.15 -2.41 -1.07
Interest Expense, Net Non-Operating -1.38 -1.53 -1.15 -2.41 -1.07
Interest Income, Non-Operating 0.26 0.76 0.05 0.05 0.06
Investment Income, Non-Operating -3.40 0.09 6.50 6.02 -0.32
Interest/Investment Income, Non-Operating -3.14 0.86 6.55 6.07 -0.26
Interest Income (Expense), Net-Non-Operating, Total -4.52 -0.67 5.40 3.66 -1.33
Gain (Loss) on Sale of Assets
Other Non-Operating Income (Expense) -0.58 -0.34 -0.18 -0.23
Other, Net -0.58 -0.34 -0.18 -0.23
Net Income Before Taxes -23.09 11.27 12.82 16.22 8.94
Income Tax – Total 8.68 4.79 6.70 5.99 -1.51
Income After Tax -31.77 6.48 6.12 10.23 10.45
Minority Interest -- 0.00 0.03 0.04
Net Income Before Extraordinary Items -31.77 6.49 6.12 10.26 10.49
Discontinued Operations
Total Extraordinary Items
Net Income -31.77 6.49 6.12 10.26 10.49
Miscellaneous Earnings Adjustment -0.00
Total Adjustments to Net Income -0.00
Income Available to Common Excluding Extraordinary Items -31.77 6.49 6.12 10.26 10.49
Income Available to Common Stocks Including Extraordinary Items -31.77 6.49 6.12 10.26 10.49
Basic Weighted Average Shares 78.42 78.44 78.48 73.45 71.33
Basic EPS Excluding Extraordinary Items -0.41 0.08 0.08 0.14 0.15
Basic EPS Including Extraordinary Items -0.41 0.08 0.08 0.14 0.15
Dilution Adjustment
Diluted Net Income -31.77 6.49 6.12 10.26 10.49
Diluted Weighted Average Shares 78.42 78.44 78.48 73.45 71.33
Diluted EPS Excluding Extraordinary Items -0.41 0.08 0.08 0.14 0.15
Diluted EPS Including Extraordinary Items -0.41 0.08 0.08 0.14 0.15
DPS - Common Stock Primary Issue 0.02 0.05 0.03 0.05 0.04
Gross Dividends - Common Stock
Impairment-Assets Held for Sale, Supplemental
Litigation Charge, Supplemental 0.32 0.56 2.97 -2.00
Restructuring Charge, Supplemental 1.49 1.44 0.35
Other Unusual Expense (Income), Supplemental 5.80
Non-Recurring Items, Total 7.60 2.00 3.32 -2.00
Total Special Items 27.59 2.00 3.32 -2.00
Normalized Income Before Taxes 4.49 13.28 16.14 16.22 6.94
Effect of Special Items on Income Taxes 9.65 0.85 1.73 -0.70
Income Taxes Excluding Impact of Special Items 18.33 5.64 8.43 5.99 -2.21
Normalized Income After Taxes -13.84 7.64 7.71 10.23 9.15
Normalized Income Available to Common -13.84 7.64 7.71 10.26 9.19
Basic Normalized EPS -0.18 0.10 0.10 0.14 0.13
Diluted Normalized EPS -0.18 0.10 0.10 0.14 0.13
Amortization of Intangibles, Supplemental 1.05
Depreciation, Supplemental 4.33 5.09 4.77 4.47 3.48
Interest Expense, Supplemental 1.38 1.53 1.15 2.41 1.07
Rental Expense, Supplemental 5.11 5.74 5.82 5.09 5.15
Advertising Expense, Supplemental
Equity in Affiliates, Supplemental
Minority Interest, Supplemental -- 0.00 0.03 0.04
Audit-Related Fees, Supplemental 0.73 0.75 0.77 0.72 0.71
Tax Fees, Supplemental 0.14 0.15 0.14 0.07 0.12
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.05 0.02 0.06
Gross Margin 12.95 25.69 16.48 21.91 15.61
Operating Margin -8.48 5.81 3.27 5.33 4.61
Pretax Margin -10.87 5.33 5.52 6.89 3.93
Effective Tax Rate 42.48 52.23 36.92 -16.92
Net Profit Margin -14.96 3.07 2.64 4.36 4.61
Normalized EBIT 9.59 14.29 10.91 12.56 8.50
Normalized EBITDA 13.92 19.38 15.68 17.03 13.02
Current Tax - Domestic
Current Tax - Total 2.22 5.46 6.96 6.78 5.25
Current Tax - Total 2.22 5.46 6.96 6.78 5.25
Deferred Tax - Domestic -0.62 -0.30 -1.22 -6.77
Deferred Tax - Total 6.24
Deferred Tax - Total 6.24 -0.62 -0.30 -1.22 -6.77
Other Tax 0.22 -0.06 0.03 0.43
Income Tax - Total 8.68 4.79 6.70 5.99 -1.51
Interest Cost - Domestic 0.01 0.01 0.02 0.02
Service Cost - Domestic 0.08 0.09 0.14 0.14 0.12
Expected Return on Assets - Domestic -0.01 -0.01 -0.02 -0.01
Other Pension, Net - Domestic 0.01 0.01 0.01
Domestic Pension Plan Expense 0.10 0.10 0.16 0.14 0.13
Interest Cost - Foreign 0.05 0.06 0.05
Service Cost - Foreign 0.11 0.12 0.10 0.19
Foreign Pension Plan Expense 0.16 0.18 0.14 0.24
Defined Contribution Expense - Domestic
Total Pension Expense 0.25 0.28 0.30 0.38 0.13
Discount Rate - Domestic 1.10 2.00
Expected Rate of Return - Domestic
Compensation Rate - Domestic 1.50 1.50
Pension Payment Rate - Domestic --
Total Plan Interest Cost 0.06 0.07 0.07 0.02
Total Plan Service Cost 0.19 0.21 0.24 0.32 0.12
Total Plan Expected Return -0.01 -0.01 -0.02 -0.01
Total Plan Other Expense 0.01 0.01 0.01

Balance Sheet

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update)
Cash & Equivalents 28.72 14.98 20.81 17.07 13.93
Short Term Investments 1.15 0.33 0.43 0.34 1.02
Cash and Short Term Investments 29.86 15.31 21.25 17.41 14.95
Accounts Receivable - Trade, Gross 46.10 57.51 68.60 64.82 52.22
Provision for Doubtful Accounts -5.15 -5.92 -6.17 -3.84 -3.51
Accounts Receivable - Trade, Net 40.96 51.59 62.43 60.99 48.71
Receivables - Other 7.74 4.81 5.87 4.95 2.85
Total Receivables, Net 48.70 56.40 68.30 65.94 51.55
Inventories - Finished Goods 34.70 34.81 41.86 37.18 34.25
Inventories - Work In Progress 1.53 1.92 2.65 2.55 4.19
Inventories - Raw Materials 6.78 7.67 4.16 3.55 3.68
Inventories - Other -6.20 -4.18 -3.60 -2.50 -2.01
Total Inventory 36.82 40.21 45.07 40.78 40.11
Prepaid Expenses 2.65 2.04 2.08 2.43 2.12
Discontinued Operations - Current Asset 4.82 3.95 0.00 0.00 2.21
Other Current Assets 0.00 0.00 0.00 0.00 0.00
Other Current Assets, Total 4.82 3.95 0.00 0.00 2.21
Total Current Assets 122.85 117.92 136.68 126.56 110.94
Land/Improvements - Gross 16.01 17.61 21.57 21.36 21.04
Machinery/Equipment - Gross 18.02 19.50 19.03 18.69 18.60
Other Property/Plant/Equipment - Gross 7.81 8.66 9.15 7.26 7.46
Property/Plant/Equipment, Total - Gross 41.83 45.77 49.76 47.30 47.09
Accumulated Depreciation, Total -23.67 -23.71 -23.02 -20.97 -20.23
Property/Plant/Equipment, Total - Net 18.17 22.06 26.74 26.33 26.86
Goodwill - Gross 45.19 67.27 66.83 63.80 60.48
Accumulated Goodwill Amortization 0.00 0.00 0.00 0.00 0.00
Goodwill, Net 45.19 67.27 66.83 63.80 60.48
Intangibles - Gross 17.87 16.97 12.60 12.04 11.25
Accumulated Intangible Amortization -10.09 -9.12 -7.90 -6.68 -5.48
Intangibles, Net 7.79 7.85 4.70 5.35 5.77
LT Investment - Affiliate Companies 0.00 0.00 0.00 0.00 0.00
LT Investments - Other 0.04 0.04 0.00 0.00 -0.00
Long Term Investments 0.04 0.04 0.00 0.00 -0.00
Note Receivable - Long Term 1.84 1.90 5.98 0.74 2.04
Deferred Charges 5.52 6.12 0.00 0.00 0.00
Deferred Income Tax - Long Term Asset 9.29 20.43 19.01 17.20 13.50
Discontinued Operations - Long Term Asset 0.00 0.00 0.00 1.80 0.00
Other Long Term Assets 0.00 0.00 0.04 0.04 0.04
Other Long Term Assets, Total 14.82 26.55 19.04 19.04 13.54
Total Assets 210.69 243.59 259.98 241.81 219.64
Accounts Payable 26.70 22.80 29.41 29.43 23.52
Accrued Expenses 9.68 11.11 15.15 14.38 11.83
Notes Payable/Short Term Debt 0.00 0.00 0.20 1.74 2.65
Current Portion of Long Term Debt/Capital Leases 0.00 0.00 0.00 0.00 2.00
Customer Advances 6.88 7.25 8.63 3.40 8.01
Income Taxes Payable 1.11 3.63 4.01 3.07 2.72
Other Current Liabilities 8.24 9.92 8.15 5.36 0.00
Other Current liabilities, Total 16.23 20.80 20.79 11.83 10.73
Total Current Liabilities 52.61 54.71 65.56 57.38 50.74
Long Term Debt 46.37 33.98 44.66 35.35 45.92
Total Long Term Debt 46.37 33.98 44.66 35.35 45.92
Total Debt 46.37 33.98 44.86 37.08 50.58
Deferred Income Tax - Long Term Liability 2.81 6.85 6.36 5.73 4.30
Deferred Income Tax 2.81 6.85 6.36 5.73 4.30
Minority Interest 0.03 0.03 0.03 0.03 -0.00
Reserves 1.63 0.37 1.70 2.68 7.76
Pension Benefits - Underfunded 2.76 2.90 2.93 2.51 2.02
Other Long Term Liabilities 0.04 -0.67 -1.10 0.26 0.13
Other Liabilities, Total 4.43 2.60 3.54 5.46 9.91
Total Liabilities 106.24 98.17 120.14 103.93 110.86
Common Stock 83.63 86.84 88.77 91.99 86.46
Common Stock, Total 83.63 86.84 88.77 91.99 86.46
Additional Paid-In Capital 13.57 13.57 13.57 13.57 1.75
Retained Earnings (Accumulated Deficit) 14.71 46.48 40.00 33.79 23.76
Treasury Stock - Common -0.20 -0.28 -0.01 -0.08 -0.08
Cumulative Translation Adjustment -6.75 -0.67 -1.84 -0.86 -2.80
Other Equity -0.51 -0.52 -0.64 -0.53 -0.32
Other Equity, Total -7.26 -1.19 -2.48 -1.39 -3.12
Total Equity 104.45 145.42 139.84 137.88 108.77
Total Liabilities & Shareholders' Equity 210.69 243.59 259.98 241.81 219.64
Shares Outstanding – Common Stock Primary Issue 78.45 78.42 78.52 78.54 71.33
Total Common Shares Outstanding 78.45 78.42 78.52 78.54 71.33
Treasury Shares – Common Primary Issue 0.09 0.12 0.01 0.00 0.00
Employees 940.00 953.00 962.00 923.00 916.00
Number of Common Shareholders 0.00 0.00 0.00 0.00 0.00
Accumulated Goodwill Amortization 0.00 0.00 0.00 0.00 0.00
Accumulated Intangible Amortization 10.09 9.12 7.90 6.68 5.48
Deferred Revenue - Current 6.88 7.25 8.63 3.40 8.01
Total Current Assets less Inventory 86.04 77.70 91.62 85.77 70.83
Quick Ratio 1.64 1.42 1.40 1.49 1.40
Current Ratio 2.34 2.16 2.08 2.21 2.19
Net Debt 16.53 18.70 23.64 19.70 35.62
Tangible Book Value 51.48 70.29 68.31 68.72 42.52
Tangible Book Value per Share 0.66 0.90 0.87 0.88 0.60
Total Long Term Debt, Supplemental 0.00 0.00 0.00 0.00 4.65
Long Term Debt Maturing within 1 Year 0.00 0.00 0.00 0.00 4.65
Long Term Debt Maturing in Year 2 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 3 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 4 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 5 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in 2-3 Years 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in 4-5 Years 0.00 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 6 & Beyond 0.00 0.00 0.00 0.00 0.00
Total Operating Leases 0.84 0.84 0.50 0.51 0.59
Operating Lease Payments Due in Year 1 0.38 0.35 0.27 0.25 0.32
Operating Lease Payments Due in Year 2 0.29 0.25 0.15 0.19 0.16
Operating Lease Payments Due in Year 3 0.06 0.08 0.03 0.03 0.04
Operating Lease Payments Due in Year 4 0.06 0.08 0.03 0.03 0.04
Operating Lease Payments Due in Year 5 0.06 0.08 0.03 0.03 0.04
Operating Lease Payments Due in 2-3 Years 0.35 0.33 0.18 0.21 0.20
Operating Lease Payments Due in 4-5 Years 0.12 0.16 0.05 0.05 0.08
Standardized Operating Lease Payments Due in Year 6 and Beyond -0.00 0.00 -0.00 0.00 0.00
Pension Obligation - Domestic 1.61 1.80 1.93 1.81 1.38
Pension Obligation - Foreign 0.00 0.00 0.00 0.00 0.00
Plan Assets - Domestic 1.09 1.23 1.20 1.31 1.00
Plan Assets - Foreign 0.00 0.00 0.00 0.00 0.00
Funded Status - Domestic -0.51 -0.57 -0.73 -0.50 -0.39
Funded Status - Foreign 0.00 0.00 0.00 0.00 0.00
Unfunded Plan Obligations 2.01 2.12 2.03 1.88 0.00
Total Funded Status -2.53 -2.69 -2.76 -2.38 -0.39
Discount Rate - Domestic 0.70 0.40 0.70 1.10 2.00
Expected Rate of Return - Domestic 0.00 0.00 0.00 0.00 0.00
Compensation Rate - Domestic 1.00 1.00 1.50 1.50 1.50
Compensation Rate - Foreign 3.00 3.00 3.00 3.00 0.00
Pension Payment Rate - Domestic 0.00 0.00 0.00 0.00 0.00
Net Domestic Pension Assets -0.51 -0.57 -0.73 -0.50 -0.39
Net Foreign Pension Assets -2.01 -2.12 -2.03 -1.88 0.00
Net Assets Recognized on Balance Sheet -2.53 -2.69 -2.76 -2.38 -0.39
Equity % - Domestic 0.00 0.00 0.00 0.00 0.28
Real Estate % - Domestic 0.00 0.00 0.00 0.00 12.37
Private Investments % - Domestic 0.00 0.00 0.00 0.00 0.16
Other Investments % - Domestic 0.00 0.00 0.00 0.00 87.19
Total Plan Obligations 3.62 3.92 3.96 3.69 1.38
Total Plan Assets 1.09 1.23 1.20 1.31 1.00

Cash Flow

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update)
Net Income/Starting Line -31.77 6.48 6.12 10.23 10.45
Depreciation – Supplemental 4.33 5.09 4.77 4.47 4.52
Depreciation/Depletion 4.33 5.09 4.77 4.47 4.52
Deferred Taxes 6.24 -0.62 -0.30 -1.22 -6.77
Unusual Items 19.87 -0.15 -0.05 -0.12 0.05
Other Non-Cash Items 6.15 -0.15 -1.71 -2.28 3.15
Non-Cash Items 26.01 -0.30 -1.75 -2.40 3.19
Accounts Receivable 7.73 10.16 -9.63 -13.17 1.34
Inventories 1.37 2.36 -5.39 -1.36 -0.16
Accounts Payable 3.63 -7.98 5.14 1.22 -6.39
Taxes Payable 2.44 5.40 6.99 7.21 5.25
Other Liabilities -1.14 -3.88 0.98 2.25 -2.66
Other Operating Cash Flow -5.98 -6.59 -7.20 -7.98 -9.49
Changes in Working Capital 8.04 -0.53 -9.12 -11.83 -12.11
Cash from Operating Activities 12.86 10.13 -0.27 -0.76 -0.71
Purchase of Fixed Assets -2.11 -2.41 -3.17 -2.16 -4.16
Purchase/Acquisition of Intangibles -1.59 -1.86 -0.65 -1.01 -1.11
Capital Expenditures -3.70 -4.27 -3.82 -3.17 -5.28
Sale of Fixed Assets 0.21 0.29 1.77 0.30 0.08
Sale/Maturity of Investment
Investment, Net -- -0.03 0.02 0.10
Other Investing Cash Flow --
Other Investing Cash Flow Items, Total 0.21 0.29 1.74 0.32 0.17
Cash from Investing Activities -3.49 -3.98 -2.08 -2.84 -5.10
Other Financing Cash Flow -- -0.35 -- -0.26
Financing Cash Flow Items -- -0.35 -- -0.26
Cash Dividends Paid - Common
Total Cash Dividends Paid
Sale/Issuance of Common -- 20.26
Repurchase/Retirement of Common -3.54 -2.16 -3.78 -2.92 -2.92
Common Stock, Net -3.54 -2.16 -3.78 17.34 -2.92
Issuance (Retirement) of Stock, Net -3.54 -2.16 -3.78 17.34 -2.92
Long Term Debt Issued
Long Term Debt Reduction
Long Term Debt, Net
Total Debt Issued 16.06 0.35 10.10 0.45 16.97
Total Debt Reduction -2.65 -10.25 -2.31 -14.49
Issuance (Retirement) of Debt, Net 13.41 -9.91 7.79 -14.04 16.97
Cash from Financing Activities 9.88 -12.41 4.01 3.05 14.06
Foreign Exchange Effects -5.51 0.63 1.88 3.70 -2.80
Net Change in Cash 13.74 -5.63 3.54 3.14 5.44
Net Cash - Beginning Balance 14.98 20.61 17.07 13.93 8.48
Net Cash - Ending Balance 28.72 14.98 20.61 17.07 13.93
Cash Interest Paid 1.11 0.74 1.11 1.55 0.97
Cash Taxes Paid 4.87 5.85 6.09 6.44 8.52

Shareholders

Shareholder Holders Value ($MM) % O/S Shares
Institution 14 86.55 37.23 29,114,276
Mutual Fund 28 26.04 12.85 10,044,554
Insider -- -- -- --