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Key figures

in 1,000 CHF unless otherwise specified Normalized
performance
2016/171)
2015/16 2014/2015 2013/2014 Normalized
performance
2012/132)/3)
Sales  2,395,650 2,071,930 2,035,085 1,951,312 1,795,262
change compared to previous year (%) 15.6 1.8 4.3 8.7 10.8
Gross profit 1,651,752 1,375,468 1,387,524 1,340,449 1,239,780
change compared to previous year (%) 20.1 (0.9) 3.5 8.1 12.1
in % of sales 68.9 66.4 68.2 68.7 69.1
Research & development costs 137,134 130,255 130,897 125,657 113,884
in % of sales 5.7 6.3 6.4 6.4 6.3
Sales & marketing costs 810,988 638,240 613,217 589,627 559,077
in % of sales 33.9 30.8 30.1 30.2 31.1
Operating profit before acquisition-related amortization and impairment (EBITA) 481,441 430,632 455,564 430,109 385,304
change compared to previous year (%) 11.8 (5.5) 5.9 11.6 22.2
in % of sales 20.1 20.8 22.4 22.0 21.5
Operating profit (EBIT) 442,120 403,437 429,069 404,030 359,175
change compared to previous year (%) 9.6 (6.0) 6.2 12.5 24.8
in % of sales 18.5 19.5 21.1 20.7 20.0
Income after taxes 371,484 345,847 368,323 347,382 307,745
change compared to previous year (%) 7.4 (6.1) 6.0 12.9 24.9
in % of sales 15.5 16.7 18.1 17.8 17.1
Number of employees (average) 12,802 10,697 9,960 9,175 8,709
change compared to previous year (%) 19.7 7.4 8.6 5.4 9.3
Number of employees (end of period) 14,089 10,894 10,184 9,529 8,952
change compared to previous year (%) 29.3 7.0 6.9 6.4 8.9
Net cash4) 404,634 298,274 382,343 311,525 185,800
Net working capital5) 169,706 185,459 181,379 190,571 187,148
in % of sales 7.1 9.0 8.9 9.8 10.4
Capital expenditure (tangible and intangible assets)6) 97,120 83,051 88,735 93,918 82,354
Capital employed7) 2,535,906 1,607,992 1,489,461 1,462,850 1,455,460
in % of sales 105.9 77.6 73.2 75.0 81.1
Total assets 3,935,680 2,751,611 2,691,631 2,593,748 2,680,042
Equity 2,131,272 1,906,266 1,871,804 1,774,375 1,641,260
Equity financing ratio (%)8) 54.2 69.3 69.5 68.4 61.2
Free cash flow9) (232,615) 252,573 308,700 288,618 262,370
Operating free cash flow10) 424,847 344,212 366,385 318,430 318,553
in % of sales 17.7 16.6 18.0 16.3 17.7
Return on capital employed (%)11) 20.4 26.0 29.1 27.7 10.4
Basic earnings per share (CHF) 5.58 5.11 5.37 5.08 4.60
Dividend/distribution per share (CHF) 2.3012) 2.10 2.05 1.90 1.60

1) Excluding one-time costs of 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) Restated following the implementation of IAS 19 (revised).
3) Excluding one-off cost, mainly related to the increase of the product liability provision within the cochlear implants business. Balance sheet related key figures (including respective ratios) as reported.
4) Cash and cash equivalents + other current financial assets (without loans) – current financial liabilities – non-current financial liabilities.
5) Receivables (incl. loans) + inventories – trade payables – current income tax liabilities – other short-term liabilities – short-term provisions.
6) Excluding goodwill and intangibles relating to acquisitions.
7) Equity – net cash.
8) Equity in % of total assets.
9) Cash flow from operating activities + cash flow from investing activities.
10) Free cash flow – cash consideration for acquisitions and from divestments, net of cash acquired / divested.
11) EBIT in % of capital employed (average).
12) Proposal to the Annual General Shareholders’ Meeting of June 13, 2017.