Another highly useful tool for assessing corporate performance is the comparative analysis of key figures over 10 years. The Vossloh Group's ten-year overview allows for the 1996 relisting of DM 50 shares as DM 5 shares, the 1998 (1-for-1) stock split and the 1993 (1-for-5) capital increase against cash contributions.
Ten-year overview of the Vossloh*
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement data | |||||||||||
| Net sales | € mill. | 1,232.1 | 1,015.2 | 996.4 | 917.8 | 912.5 | 744.5 | 903.0 | 854.4 | 790.1 | 578.4 |
| thereof: Rail Technology | € mill. | 1,231.8 | 1,014.2 | 996.1 | 917.5 | 912.2 | 743.6 | 649.7 | 579.8 | 561.9 | 357.3 |
| Lighting | € mill. | – | – | – | – | – | – | 252.8 | 274.1 | 227.7 | 220.5 |
| EBIT | € mill. | 121.5 | 82.7 | 90.8 | 105.6 | 100.9 | 78.4 | 60.0 | 77.9 | 48.4 | 61.8 |
| Net interest expense | € mill. | (12.3) | (14.1) | (19.6) | (16.0) | (14.7) | (14.8) | (17.2) | (13.6) | (7.0) | (6.4) |
| EBT | € mill. | 109.2 | 68.6 | 71.2 | 89.6 | 86.2 | 63.6 | 42.8 | 64.3 | 41.4 | 55.4 |
| Group earnings (total) | € mill. | 71.4 | 20.3 | 45.1 | 57.2 | 55.5 | 52.4 | 17.2 | 27.8 | 17.7 | 31.2 |
| Earnings per share1 (EpS) | € | 4.83 | 1.38 | 3.07 | 3.91 | 3.90 | 3.85 | 1.20 | 1.93 | 1.23 | 2.16 |
| Pretax ROS | % | 8.9 | 6.8 | 7.1 | 9.8 | 9.4 | 8.5 | 4.7 | 7.5 | 5.2 | 9.6 |
| Pretax ROE | % | 25.2 | 18.5 | 19.7 | 27.1 | 29.0 | 26.7 | 13.6 | 20.0 | 14.1 | 20.2 |
| ROCE | % | 14.9 | 12.9 | 12.0 | 15.3 | 16.3 | 13.3 | 9.4 | 11.9 | 8.4 | 12.7 |
| Balance sheet data | |||||||||||
| Fixed assets | € mill. | 503.4 | 423.4 | 453.3 | 387.0 | 377.7 | 414.5 | 322.0 | 311.4 | 286.9 | 269.2 |
| capital expenditures2 | € mill. | 52.6 | 23.9 | 34.5 | 39.4 | 30.5 | 25.5 | 48.2 | 43.6 | 35.6 | 24.5 |
|
amortization/ depreciation2 |
€ mill. | 29.2 | 25.9 | 23.9 | 25.2 | 24.4 | 19.7 | 38.1 | 37.4 | 34.2 | 24.9 |
| Working capital | € mill. | 312.8 | 216.7 | 303.3 | 303.2 | 242.7 | 175.5 | 316.3 | 341.4 | 292.2 | 217.4 |
| Working capital ratio | % | 25.4 | 21.3 | 30.4 | 33.1 | 26.6 | 23.6 | 35.0 | 40.0 | 37.0 | 37.6 |
| Capital employed | € mill. | 816.2 | 640.1 | 756.6 | 690.2 | 620.4 | 590.0 | 638.3 | 652.8 | 579.1 | 486.6 |
| Total equity | € mill. | 434.0 | 371.1 | 361.0 | 331.1 | 297.6 | 238.6 | 314.4 | 321.0 | 293.9 | 274.7 |
| thereof: minority interests | € mill. | 12.1 | 9.3 | 6.1 | 5.8 | 5.6 | 4.6 | 121.2 | 116.7 | 106.0 | 99.4 |
| Net financial debt | € mill. | 124.9 | 62.3 | 220.5 | 171.1 | 183.1 | 227.0 | 231.2 | 209.5 | 181.8 | 108.7 |
| Total assets | € mill. | 1,326.7 | 1,198.5 | 1,091.2 | 1,016.7 | 880.3 | 947.2 | 899.0 | 896.3 | 785.5 | 679.3 |
| Equity ratio | % | 32.7 | 31.0 | 33.1 | 32.6 | 33.8 | 25.2 | 35.0 | 35.8 | 37.4 | 40.4 |
| Cash flow statement data | |||||||||||
| Cash flow from operating activities | € mill. | 80.2 | 186.9 | 54.6 | 32.9 | 16.1 | 122.9 | 50.6 | 35.1 | –18.8 | 20.5 |
| Cash flow from investing activities | € mill. | (123.6) | (15.4) | (65.5) | (27.5) | 22.4 | (292.3) | (45.8) | (49.3) | (42.4) | (128.3) |
| Cash flow from financing activities | € mill. | (25.7) | (81.5) | (78.9) | 110.5 | (51.0) | 10.8 | (9.3) | 23.2 | 55.2 | 139.6 |
| Change in cash & cash equivalents | € mill. | (69.1) | 90.0 | (89.8) | 115.9 | (12.5) | (6.6) | (4.5) | 8.0 | (7.3) | 32.4 |
| Workforce | |||||||||||
| Annual average headcount | 5,493 | 4,765 | 4,732 | 4,513 | 4,422 | 4,190 | 5,370 | 5,583 | 5,575 | 4,001 | |
| thereof: Germany | 1,183 | 1,168 | 1,494 | 1,547 | 1,558 | 1,651 | 2,494 | 2,824 | 2,674 | 1,915 | |
| abroad | 4,310 | 3,597 | 3,238 | 2,966 | 2,864 | 2,539 | 2,876 | 2,759 | 2,901 | 2,086 | |
| thereof: Rail Technology | 5,455 | 4,734 | 4,701 | 4,481 | 4,392 | 4,167 | 3,884 | 4,001 | 4,174 | 2,624 | |
| Lighting | – | – | – | – | – | – | 1,464 | 1,566 | 1,385 | 1,361 | |
| Vossloh AG | 38 | 31 | 31 | 32 | 30 | 23 | 22 | 16 | 16 | 16 | |
| Payroll-to-added value ratio | % | 67.5 | 71.6 | 70.8 | 66.2 | 66.9 | 69.0 | 77.0 | 74.2 | 81.7 | 69.3 |
| Personnel expenses | € mill. | 268.9 | 223.9 | 234.5 | 217.5 | 213.9 | 178.4 | 208.1 | 228.2 | 222.8 | 143.6 |
| Personnel expenses per capita | € ’000 | 49.0 | 47.0 | 49.6 | 48.2 | 48.4 | 42.6 | 38.7 | 40.9 | 40.0 | 35.9 |
* All data as published upon annual accounts presentation
Vossloh AG—Ten-year overview| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capital stock | € mill. | 37.8 | 37.7 | 37.7 | 37.4 | 37.4 | 36.8 | 36.8 | 36.8 | 36.8 | 36.8 |
| Dividend per share1 | € | 1.70 | 1.30 | 1.30 | 1.30 | 1.30 | 1.20 | 0.75 | 0.75 | 0.60 | 0.59 |
| Stock price at Dec. 311 | € | 80.10 | 57.14 | 41.10 | 36.35 | 44.80 | 24.70 | 22.53 | 14.95 | 14.90 | 25.05 |
| Market capitalization at Dec. 31 | € mill. | 1,185.1 | 842.0 | 605.6 | 530.9 | 654.2 | 338.1 | 310.4 | 215.3 | 214.6 | 360.7 |
As from 1998 according to US GAAP
As from 2003 according to IFRS
1 Share-related indicators and stock price rebased according to DVFA standard (basis: 14,400,000 shares) to allow for the relisting as no-par shares and the 1998 (1-for-1) stock split.
2 Excl. financial assets
As from 2003 according to IFRS
1 Share-related indicators and stock price rebased according to DVFA standard (basis: 14,400,000 shares) to allow for the relisting as no-par shares and the 1998 (1-for-1) stock split.
2 Excl. financial assets