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Economic highlights*
[Euro ‘000] 2023 2023 (Non-GAAP) 2022 2022 (Non-GAAP) 2021 2020 2019 2018 2017 Revenue from sales
and services1,694,247 1,694,638 1,723,103 1,720,871 1,359,976 1,224,793 1,211,828 1,196,186 1,140,006 EBITDA 411,122 421,873 335,250 336,293 310,952 263,740 263,794 238,504 222,697 EBITDA
Margin %24.3% 24.9% 19.5% 19.5% 22.9% 21.5% 21.8% 19.9% 19.5% EBIT 278,329 299,231 204,422 214,749 197,783 157,173 151,743 153,213 140,565 EBIT Margin % 16.4% 17.7% 11.9% 12.5% 14.5% 12.8% 12.5% 12.8% 12.3% Net financial income
(expense)12,381 16,530 32,012 11,980 (25,797) (14,615) (25,095) 31,422 (13,912) Profit before taxes 290,710 315,761 236,434 226,728 171,986 142,558 126,648 184,635 126,653 Income taxes (75,218) (78,673) (54,877) (46,833) (48,992) (33,195) (36,219) (35,866) (16,393) Profit from
continuing operations215,492 237,088 181,557 179,895 122,995 109,363 90,429 148,769 110,260 Profit margin % 12.7% 14.0% 10.5% 10.5% 9.0% 8.9% 7.5% 12.4% 9.7% Profi (loss) from
discontinued
operations- - - - - - (13,109) (33,094) Profit for the year 215,492 237,088 181,557 179,895 122,995 109,363 90,429 135,660 77,166 Profit attributable to the owners of the parent 201,364 223,322 162,286 161,203 113,316 102,008 83,569 127,198 71,471 Profit margin % 11.9% 13.2% 9.4% 9.4% 8.3% 8.3% 6.9% 10.6% 6.3%
* From April 2022 the Turkish economy is considered hyperinflationary according to the criteria set out in “IAS 29 - Financial Reporting in Hyperinflationary Economies”. Non-GAAP figures exclude both the impact of the application of IAS 29 and the re-valuation of non-industrial property in Türkiye. -
Financial highlights
[Euro ‘000] 2023 2022 2021 2020 2019 2018 2017 Net capital employed 1,433,223 1,427,272 1,267,932 1,305,142 1,421,196 1,383,799 1,558,929 Total assets 2,522,194 2,493,976 2,111,058 2,232,379 2,266,094 2,132,223 2,357,329 Total equity 1,650,833 1,522,773 1,227,557 1,182,962 1,181,567 1,128,384 1,015,658 Equity attributable to the owners of the parent 1,503,064 1,368,183 1,088,128 1,056,709 1,044,627 997,146 956,188 Net financial debt (Net cash) (217,610) (95,501) 40,375 122,181 239,629 255,415 543,271 -
Profitability and financial structure ratios
2023 2022 2021 2020 2019 2018 2017 Return on equity(a) 13.1% 11,9% 10.0% 9.2% 7.7% 13.2% 10.9% Return on capital employed(b) 19.4% 14,3% 15.6% 12.0% 10.7% 11.1% 9.0% Equity ratio(c) 64.9% 60,3% 57.7% 52.7% 51.8% 52.5% 42.8% Net gearing ratio(d) -13.3% -6.4% 3.3% 10.4% 20.4% 22.8% 53.8% Net financial debt / EBITDA -0.5x -0.3x 0.1x 0.5x 0.9x 1.1x 2.4x (a) Profit from continuing operations/ Total equity
(b) EBIT / Net capital employed
(c) Adjusted equity / Total assets
(d) Net financial debt / Adjusted equity -
Employees and investments
2023 2022 2021 2020 2019 2018 2017 Number of employees (at 31 Dec.) 3,045 3,085 3,083 2,995 3,042 3,083 3,021 Acquisitions (Eur million) 4.2 - 3.8 - - -223 7.5 Investments (Eur million) 147.9(e) 122.6(e) 99.1(e) 85.9(e) 88.4(e) 66.7 85.9
(e) Including investments accounted for in accordance with IFRS. -
Volumes sold
('000) 2023 2022 2021 2020 2019 2018 2017 Grey and white cement (metric tons) 10,674 10,849 11,156 10,712 9, 489 9,828 10,282 Ready-mixed concrete (m3) 4,266 4,798 5,093 4,435 4, 116 4,921 4,948 Aggregates (t) 9,401 10,462 11,052 10,222 9, 710 9,953 9,335
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