Annual Report 1999 - Kemira
Annual Report 1999 - Kemira
Annual Report 1999 - Kemira
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FINANCIAL RATIOS<br />
<strong>1999</strong> 1998 1997 1996 1995<br />
Income statement<br />
Net sales, EUR million 2,526 2,413 2,420 2,266 2,234<br />
Foreign operations, EUR million 2,073 1,916 1,955 1,764 1,789<br />
Sales in Finland, % 18 21 19 22 20<br />
Exports from Finland, % 20 19 22 24 25<br />
Sales generated outside Finland, % 62 61 59 54 55<br />
Operating income, EUR million 111 148 198 210 225<br />
% of net sales 4 6 8 9 10<br />
Net financing income and expenses, EUR million 52 51 53 67 104<br />
% of net sales 2 2 2 3 5<br />
Interest cover 6 6 7 6 4<br />
Income before extraordinary items, EUR million 59 97 145 143 121<br />
% of net sales 2 4 6 6 5<br />
Extraordinary income and expenses, EUR million – – – – –<br />
Income before taxes and minority<br />
interests, EUR million 59 97 145 143 121<br />
% of net sales 2 4 6 6 5<br />
Net income, EUR million 1) 30 79 104 104 93<br />
Return on capital invested, % 6 8 11 12 13<br />
Return on equity, % 1) 3 8 12 14 14<br />
Cash flow<br />
Cash flow from operations, EUR million 181 123 257 250 272<br />
Sales of fixed assets, EUR million 18 14 61 26 62<br />
Capital expenditure, EUR million 168 255 211 202 156<br />
% of net sales 7 11 9 9 7<br />
Cash flow after capital expenditure,<br />
EUR million 31 –119 107 73 179<br />
Cash flow return on capital invested, % 9 7 14 14 15<br />
Balance sheet<br />
Non-current assets, EUR million 1,486 1,444 1,404 1,366 1,312<br />
Shareholders’ equity, EUR million 1) 968 936 923 840 697<br />
Liabilities, EUR million 1,620 1,504 1,458 1,601 1,616<br />
Total assets, EUR million 2,603 2,453 2,389 2,447 2,316<br />
Net liabilities, EUR million 934 892 745 798 885<br />
Equity ratio, % 1) 38 39 39 35 30<br />
Gearing, % 95 94 80 94 126<br />
Personnel<br />
Personnel (average) 10,743 10,785 10,392 10,631 10,900<br />
of whom in Finland 5,090 5,155 5,176 5,945 6,125<br />
Exchange rates<br />
Key exchange rates (31 December)<br />
USD 1.00460 1.16674 1.09686 1.28033 1.36414<br />
GBP 0.62170 0.70547 0.66122 0.75559 0.88202<br />
NLG 2.20371 2.20371 2.12352 2.23322 2.18714<br />
SEK 8.56250 9.48736 8.66346 8.81110 9.08300<br />
DKK 7.43300 7.44892 7.48079 7.61395 7.56262<br />
BEF 40.33990 40.33990 40.50225 41.03333 40.11940<br />
FIM 5.94573 5.94573 5.94573 5.94573 5.94573<br />
1)<br />
The change in accounting practice (IAS 12) reduced 1998 taxes by EUR 14.0 million.<br />
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