Panalpina Annual Report 2006

Key Figures in CHF
5-years review
Consolidated and Annual Financial Statements 2006
in million CHF 2006 2005 2004 2003 2002
Forwarding services 9,301 8,280 7,452 6,561 6,364
Change in % 12.33 11.10 13.58 3.10 (5.26)
Net forwarding revenue 7,735 6,949 6,120 5,362 5,175
Change in % 11.32 13.54 14.14 3.61 (3.92)
Gross profit (contribution margin) 1,591 1,408 1,327 1,239 1,248
Change in % 12.99 6.10 7.10 (0.72) (2.48)
in % of net revenue 20.57 20.26 21.68 23.11 24.12
Consolidated net earnings 183.5 120.3 100.0 97.7 115.6
Change in % 52.54 20.31 2.35 (15.48) 3.52
in % of gross profit 11.54 8.54 7.54 7.89 9.26
Ebitda 312.7 214.2 198.1 195.4 211.2
Change in % 45.99 8.11 1.38 (7.48) (5.68)
in % of gross profit 19.65 15.21 14.93 15.77 16.92
Ebita 277.9 177.9 160.5 152.6 164.5
Change in % 56.18 10.86 5.18 (7.23) (22.86)
in % of gross profit 17.47 12.64 12.09 12.32 13.18
Ebit 261.0 165.6 139.0 138.1 151.7
Change in % 57.58 19.16 0.65 (8.97) (2.64)
in % of gross profit 16.41 11.76 10.47 11.15 12.15
Cash flow before interest and taxes 321.3 216.4 198.4 194.9 220.4
Change in % 48.49 9.05 1.80 (11.57) 2.07
in % of gross profit 20.20 15.37 14.95 15.73 17.66
Net cash flow from operating activities 240.9 141.9 33.9 89.6 71.9
Change in % 69.83 318.48 (62.17) 24.62 (77.99)
in % of gross profit 15.15 10.08 2.55 7.23 5.76
Free cash flow 186.0 121.4 (77.7) 47.5 19.5
Change in % 53.24 (256.25) (263.58) 143.59 (90.06)
in % of gross profit 11.69 8.62 (5.86) 3.83 1.56
Net working capital 413.0 418.7 356.2 263.1 220.0
Change in % (1.37) 17.55 35.39 19.59 25.57
Capital expenditure on fixed assets 57.0 59.9 77.1 51.1 67.0
Change in % (4.86) (22.32) 50.88 (23.73) (47.26)
in % of gross profit 3.58 4.25 5.81 4.12 5.37
Net capital expenditure on fixed assets 54.0 33.2 61.6 39.7 48.6
Change in % 62.50 (46.08) 55.16 (18.31) (57.43)
in % of gross profit 3.39 2.36 4.64 3.20 3.90
Panalpina Annual Report 2006 111