Panalpina Annual Report 2006

Consolidated and Annual Financial Statements 2006
114 Panalpina Annual Report 2006
Key Figures in EUR
5-years review
in million EUR 2006 2005 2004 2003 2002
Forwarding services 5,895 5,339 4,827 4,328 4,335
Change in % 10.42 10.60 11.54 (0.18) 26.43
Net forwarding revenue 4,903 4,480 3,964 3,537 3,525
Change in % 9.43 13.02 (1.79) 10.52 27.75
Gross profit (contribution margin) 1,008 908 860 817 850
Change in % 11.07 5.62 5.18 (3.87) 23.49
in % of net revenue 20.57 20.26 21.68 23.11 24.12
Consolidated net earnings 116.3 77.6 64.8 64.4 78.7
Change in % 49.94 19.75 0.52 (18.17) 26.47
in % of gross profit 11.54 8.54 7.54 7.89 7.80
Ebitda 198.2 138.1 128.3 128.9 143.9
Change in % 43.51 7.61 (0.44) (10.42) 22.35
in % of gross profit 19.65 15.21 14.93 15.77 15.57
Ebita 176.1 114.7 104.0 100.7 112.1
Change in % 53.53 10.35 3.29 (10.18) 22.35
in % of gross profit 17.47 12.64 12.09 12.32 199.57
Ebit 165.4 106.8 90.0 91.1 103.3
Change in % 54.90 18.61 (1.15) (11.85) 24.84
in % of gross profit 16.41 11.76 10.47 11.15 11.21
Cash flow before interest and taxes 203.6 139.5 128.5 128.6 150.1
Change in % 45.97 8.55 (0.03) (14.38) 61.45
in % of gross profit 20.20 15.37 14.95 15.73 15.79
Net cash flow from operating activities 152.7 91.5 22.0 59.1 49.0
Change in % 66.95 316.56 (62.84) 20.66 (25.17)
in % of gross profit 15.15 10.08 2.55 7.23 4.55
Free cash flow 117.9 78.3 (50.3) 31.3 13.3
Change in % 50.64 (255.54) (260.64) 135.86 (83.82)
in % of gross profit 11.69 8.62 3.84 3.83 0.93
Net working capital 256.9 269.0 230.9 168.8 151.3
Change in % (4.49) 16.50 36.81 11.55 44.92
Capital expenditure on fixed assets 35.4 38.5 50.0 32.8 46.1
Change in % (7.88) (23.01) 52.47 (28.86) (33.60)
in % of gross profit 3.52 4.24 5.81 4.01 4.87
Net capital expenditure on fixed assets 33.6 21.3 39.9 25.5 33.4
Change in % 57.35 (46.56) 56.80 (23.80) 12.53
in % of gross profit 3.33 2.35 4.65 3.12 4.23