5 year comparison of VERBUND's key figures

Key figure Unit 2014 2015 2016 2017 2018
Revenue €m 2,880.4 2,969.6 2,795.9 2,913.2 2,847.9
EBITDA €m 808.8 888.7 1,044.2 922.3 864.2
Adjusted EBITDA €m 889.6 838.8 894.5 899.7 863.5
Operating result (EBIT) €m 384.4 410.6 615.1 400.1 655.1
Operating result before effects from impairment tests €m 423.5 528.6 704.9 581.0 536.9
Profit/loss after tax from discontinued operations €m 25.1
Group result €m 126.1 207.7 424.4 301.4 433.2
Adjusted Group result €m 216.0 268.9 325.9 354.5 342.2
Total assets €m 12,247.3 11,763.0 11,538.2 11,283.6 11,704.8
Equity €m 5,280.5 5,433.3 5,529.5 5,690.8 5,941.0
Net debt €m 4,059.6 3,685.4 3,221.7 2,843.8 2,560.7
Additions to property, plant and equipment €m 412.3 269.3 255.3 231.0 292.5
Cash flow from operating activities €m 717.6 674.0 804.3 640.6 664.1
Free cash flow before dividends €m 284.7 551.4 580.7 416.1 415.3
Free cash flow after dividends €m -133.6 392.7 415.7 293.5 237.2
EBITDA margin % 28.1 29.9 37.3 31.7 30.3
EBIT margin % 13.3 13.8 22.0 13.7 23.0
Return on capital employed (ROCE) % 3.2 3.9 5.7 4.2 6.1
Return on equity (ROE) % 3.3 4.7 8.4 5.4 8.2
Equity ratio (adjusted) % 44.7 48.2 50.0 52.4 52.7
Gearing % 76.9 67.8 58.3 50.0 43.1
Net Debt/EBITDA X 5.0 4.1 3.1 3.1 3.0
FFO/Net Debt (Net Debt Coverage) % 18.2 23.9 32.1 30.0 28.7
Gross debt coverage (FFO) % 16.1 22.8 30.4 28.1 25.7
Gross interest cover (FFO) X 2.8 5.2 8.7 8.1 7.3
Closing price 15.3 11.9 15.2 20.1 37.2
Market capitalisation €m 5,313.7 4,120.4 5,272.0 6,998.7 12,937.8
Earnings per share 0.36 0.60 1.22 0.87 1.25
Cash flow per share 2.1 1.9 2.3 1.8 1.9
Carrying amount per share 13.3 13.8 14.0 14.6 15.3
Price/earnings ratio (last trading day) X42.1 19.8 12.4 23.2 29.9
Price/cash flow ratio X 7.4 6.1 6.6 10.9 19.5
Price/book value ratio X 1.2 0.9 1.1 1.4 2.4
(Proposed) dividend per share 0.29 0.35 0.29 0.42 0.42
Dividend yield % 1.9 3.0 1.9 2.1 1.1
Payout ratio from Group result % 79.9 58.5 23.7 48.4 33.7
Entity Value/EBITDA X 11.6 8.8 8.1 10.7 17.9
Average number of employees 3,245.0 3,089.0 2,922.7 2,819.0 2,742.0
Electricity sales volume GWh 50,823.0 51,374.9 55,188.5 58,518.3 58,908.3
Hydro coefficient 1.02 0.93 1.00 0.99 0.94

For detailed information on the calculation of key figures and adjustments, please refer to the explanations in the foot notes of the 2018 Integrated Annual Report / Five-year comparison.