FY group sales were relatively unchanged (organic: +3%) at CHF4,396m but gross profit margin was a notch stronger (+20bp to 46.2%). EBIT was up +4% to CHF794m and net profit attributable to shareholders rose +13% to CHF635m helped by a lower tax burden due to lower deferred taxes. Operating CF increased +14% to CHF915m supported by a lower NWC outflow (CHF-80m after CHF-1126m). NWC saw lower inventories and other current assets. Despite lower capex, investing CF increased from CHF-209m to CHF
02 Feb 2016
Real performance held back, but managed to improve profitability
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Real performance held back, but managed to improve profitability
SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (GIN:LON) | 0 0 1.1% | Mkt Cap: 1,502m
- Published:
02 Feb 2016 -
Author:
Martin Schnee -
Pages:
3
FY group sales were relatively unchanged (organic: +3%) at CHF4,396m but gross profit margin was a notch stronger (+20bp to 46.2%). EBIT was up +4% to CHF794m and net profit attributable to shareholders rose +13% to CHF635m helped by a lower tax burden due to lower deferred taxes. Operating CF increased +14% to CHF915m supported by a lower NWC outflow (CHF-80m after CHF-1126m). NWC saw lower inventories and other current assets. Despite lower capex, investing CF increased from CHF-209m to CHF