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152 being focused: being better
2002 2001 Short 2000 1999/2000 1998/1999 1997/1998 1996/1997
US GAAP US GAAP HGB HGB HGB HGB HGB
‘000 euros ‘000 euros ‘000 euros ‘000 euros ‘000 euros ‘000 euros ‘000 euros
Financial Position
Ratio EBIT to sales 0.05 0.07 0.07 0.05 0.06 0.07 0.07
Capital employed in million euros 2 562.7 663.7 806.9 906.6 725.3 633.8 479.7
Operative cash flow in million euros 3 83.3 111.2 88.4 91.2 117.9 122.6 98.5
Turnover rates
Turnover of inventories 9.0 7.9 8.3 1 8.2 8.6 8.2 8.2
Turnover of receivables 10.8 7.1 6.8 1 6.6 7.1 7.4 8.1
Turnover of capital employed 1.8 1.6 1.8 1 1.6 1.7 1.8 2.1
Profitability after taxes on income
Return in equity
(Basis: Earnings continued operations
before minority interests) 10.2% 16.7% 18.0% 1 Return on total working capital
(Basis: Earnings continued operations
– 3.5% 13.0% 15.9% 17.4%
before minority interests) 7.0% 9.2% 10.7% 1 3.1% 7.7% 11.6% 9.9%
Return on sales
(Basis: Earnings continued operations
before minority interests) 2.0% 4.4% 2.8% 1 – 0.6% 2.8% 4.8% 3.6%
Profitability before taxes on income
ROCE 8.7% 11.7% 11.7% 1 8.0% 9.6% 12.3% 13.9%
CFROCE 14.8% 16.8% 18.8% 1 10.1% 16.3% 37.8% 40.1%
Number of employees at cutt-off date
(after 2001 without trainees) 5,647 5,785 9,708 10,238 8,721 8,132 7,579
Average number of employees
(after 2001 without trainees) 5,691 5,780 9,883 10,115 8,658 8,179 7,579
1 annualised
2 Capital employeed without capital bounded in discontinued operations.
3 Result continued operations add. depreciation and changes in accruals for pensions
(till short 2000: annual result add. depreciation and changes in accruals for pensions and in special reserves with an equity portion).