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Key figures

in 1,000 CHF unless otherwise specified Normalized
performance
2017/181)
Normalized
performance
2016/171)
2015/16 2014/2015 2013/2014
Sales  2,645,926 2,395,650 2,071,930 2,035,085 1,951,312
change compared to previous year (%) 10.4 15.6 1.8 4.3 8.7
Gross profit 1,868,186 1,651,752 1,375,468 1,387,524 1,340,449
change compared to previous year (%) 13.1 20.1 (0.9) 3.5 8.1
in % of sales 70.6 68.9 66.4 68.2 68.7
Research & development costs 142,899 137,134 130,255 130,897 125,657
in % of sales 5.4 5.7 6.3 6.4 6.4
Sales & marketing costs 928,201 810,988 638,240 613,217 589,627
in % of sales 35.1 33.9 30.8 30.1 30.2
Operating profit before acquisition-related amortization and impairment (EBITA) 551,620 481,441 430,632 455,564 430,109
change compared to previous year (%) 14.6 11.8 (5.5) 5.9 11.6
in % of sales 20.8 20.1 20.8 22.4 22.0
Operating profit (EBIT) 502,144 442,120 403,437 429,069 404,030
change compared to previous year (%) 13.6 9.6 (6.0) 6.2 12.5
in % of sales 19.0 18.5 19.5 21.1 20.7
Income after taxes 422,740 371,484 345,847 368,323 347,382
change compared to previous year (%) 13.8 7.4 (6.1) 6.0 12.9
in % of sales 16.0 15.5 16.7 18.1 17.8
Number of employees (average) 14,073 12,802 10,697 9,960 9,175
change compared to previous year (%) 9.9 19.7 7.4 8.6 5.4
Number of employees (end of period) 14,242 14,089 10,894 10,184 9,529
change compared to previous year (%) 1.1 29.3 7.0 6.9 6.4
Net cash/(debt)2) (227,982) (404,634) 298,274 382,343 311,525
Net working capital3) 190,477 169,706 185,459 181,379 190,571
Capital expenditure (tangible and intangible assets)4) 96,295 97,120 83,051 88,735 93,918
Capital employed5) 2,702,891 2,535,906 1,607,992 1,489,461 1,462,850
Total assets 4,301,978 3,935,680 2,751,611 2,691,631 2,593,748
Equity 2,474,909 2,131,272 1,906,266 1,871,804 1,774,375
Equity financing ratio (%)6) 57.5 54.2 69.3 69.5 68.4
Free cash flow7) 359,957 (232,615) 252,573 308,700 288,618
Operating free cash flow8) 419,181 424,847 344,212 366,385 318,430
in % of sales 15.8 17.7 16.6 18.0 16.3
Return on capital employed (%)9) 18.4 20.4 26.0 29.1 27.7
Basic earnings per share (CHF) 6.36 5.58 5.11 5.37 5.08
Dividend/distribution per share (CHF) 2.6010) 2.30 2.10 2.05 1.90

1) Excluding one-time costs of CHF 19.2 million in 2017/18 (2016/17: CHF 18.4 million), consisting of transaction cost and integration related restructuring costs in connection with the acquisition of AudioNova. Balance sheet related key figures (including respective ratios) as reported.
2) Cash and cash equivalents + other current financial assets (without loans) – current financial liabilities – non-current financial liabilities.
3) Receivables (incl. loans) + inventories – trade payables – current income tax liabilities – other short-term liabilities – short-term provisions.
4) Excluding goodwill and intangibles relating to acquisitions.
5) Equity – net cash.
6) Equity in % of total assets.
7) Cash flow from operating activities + cash flow from investing activities.
8) Free cash flow – cash consideration for acquisitions and from divestments, net of cash acquired/divested.
9) EBIT in % of capital employed (average).
10) Proposal to the Annual General Shareholders’ Meeting of June 12, 2018.