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Key Figures

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  31.Dec.16 31.Dec.15 31.Dec.14 31.Dec.13
Profitability and profitability-related key figures        
Order intake 216,396 229,699 220,706 245,961
Gross operating margin 8.2% 5.3% 7.2% 6.6%
Operating margin 5.8% 3.3% 5.3% 4.6%
Interest coverage 9.2x 6.0x 5.3x 8.6x
Return on average capital employed (ROACE) 3.4% 3.2% 5.8% 6.3%
Return on equity (ROE) 4.7% 4.4% 8.4% 9.7%
Capital structure and capital structure-related key figures        
Net debt (22,713) (26,695) (20,002) (36,070)
Debt/equity ratio 15.6% 19.1% 14.5% 33.2%
Equity/assets ratio 59.7% 53.8% 57.0% 49.5%
Leverage ratio 1.3x 1.7x 1.2x 2.4x

 


Income Statements

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(000's) 31-Dec-16 31-Dec-15 31-Dec-14 31-Dec-13 31-Dec-12
Revenue from sales of goods 211,518 232,223 235,457 229,418 220,072
Other income 8,745 5,982 5,446 5,892 4,810
Cost of material (97,965) (113,580) (115,964) (119,010) (110,172)
Employee benefit costs (64,964) (68,132) (67,900) (62,336) (58,732)
Operating expenses (39,959) (44,130) (40,010) (37,223) (34,243)
Gross Operating Result 17,375 12,363 17,029 15,027 21,736
Depreciation and amortisation (5,094) (4,768) (4,468) (4,521) (3,758)
Operating Result 12,281 7,595 12,561 10,506 17,978
Non-operating costs - - - - -
Interest expenses - net (1,850) (1,312) (2,410) (1,280) (1,263)
Currency exchange difference - net 77 6,484 6,018 -347 477
Net result from other participations - - - - -
Profit /Loss before income tax 11,272 12,819 16,218 8,940 16,237
Income taxes (4,788) (6,695) (5,988) 1,513 (4,045)
Profit for the year 6,484 6,124 10,230 10,453 12,192

 

Balance Sheet

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(000's) 31.Dec.16 31.Dec.15 31.Dec.14 31.Dec.13 31.Dec.12
ASSETS          
Current assets          
Cash and cash equivalents 14,982 20,812 17,071 13,928 10,313
Trade receivables 51,585 62,431 60,988 48,705 50,583
Tax assets 1,096 1,035 991 1,253 530
Other current receivables 6,086 7,339 6,722 4,732 3,596
Inventories 40,213 45,065 40,784 40,110 39,561
Assets held for sale 3,953 - 1,800 2,213 -
Total current assets 117,915 136,682 126,566 110,941 104,583
Non-current assets          
Property, plant and equipment 22,096 26,736 26,326 26,861 28,840
Intangible assets 75,124 71,534 69,154 66,251 67,709
Investments in subsidiary companies - - - - -
Non-current financial assets 299 289 264 57 153
Deferred tax assets 20,425 19,005 17,196 13,501 7,094
Other non-current receivables 7,763 5,731 513 2,026 2,345
Total non-current assets 125,671 123,295 113,453 108,696 106,141
Total assets 243,586 259,977 241,809 219,637 210,725
EQUITY AND LIABILITIES          
Current liabilities          
Bank overdrafts - -202 - - -1,829
Current financial liabilities -3,801 -2,661 -1,738 -4,654 -2,911
Trade payables -30,047 -38,048 -32,831 -31,526 -36,973
Tax liabilities -3,630 -4,012 -3,065 -2,724 -
Other current liabilities -6,123 -5,484 -14,382 -11,834 -19,719
Discontinued operations -11,109 -15,149 - - -
Total current liabilities -54,710 -65,556 -57,375 -50,738 -61,432
Non-current liabilities          
Non-current financial liabilities -32,952 -43,345 -1,738 -45,353 -30,088
Defferred tax liabilities -6,854 -6,359 -5,731 -4,298 -4,345
Other non-current liabilities -351 -215 -264 -704 -885
Provision for risks and charges -3,269 -4,632 -5,191 -9,775 -7,146
Total non-current liabilities -43,426 -54,551 -46,531 -60,130 -42,464
Total liabilities -98,136 -120,107 -103,906 -110,868 -103,896
Equity          
Total equity -145,450 -139,870 -137,903 -108,769 -106,829
Total equity and liabilities -243,586 -259,977 -241,809 -219,637 -210,725

 

Cash Flow

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(000's) 31-Dec-16 31-Dec-15 31-Dec-14 31-Dec-13 31-Dec-12
Cash flow from operating activities 10,130 (268) (755) (713) 11,900
Cash flow from investing activities (12,410) (2,082) (2,844) (5,103) (12,183)
Cash flow from financing activities (3,981) 4,012 3,047 14,056 (5,035)
Cash flow for the period (6,261) 1,662 (552) 8,240 (5,318)

 

Shareholders

The table below shows the five major shareholders of Cavotec SA as at 31 December 2016

Shareholders   Number %
Shareholders with holdings in excess of 5% of the shares
Bure Equity AB Financial Institution 12,988,970 16.5%
Fjärde AP-Fonden Investment Fund 7,608,721 9.7%
Fabio Cannavale (Nomina SA) Board Member 7,298,046 9.3%
Stefan Widegren & family* Chairman & Founder shareholder 5,800,867 7.4%
Lars Hellman (LCL life & Pension) Founder shareholder 5,200,000 6.6%
Sub-Total   38,896,604 49.5%
Total Cavotec Shares   78,536,000 100.0%

* The amount includes the shares owned by Stefan Widegren, Lotten Widegren and Kristina Widegren.