Financial Ratios - consolidated
| PROFITABILITY RATIOS | 2017 | 2016 | 2015 | 2014 | 2013* | 2012 |
|---|---|---|---|---|---|---|
| Gross profit margin | 21.3% | 23.5% | 24.1% | 24.4% | 24.7% | 27% |
| EBITDA margin | 11.8% | 13.5% | 13.9% | 14.3% | 14.6% | 15% |
| Operating profit margin | 7.5% | 9.7% | 10.3% | 10.2% | 10.4% | 12% |
| Net profit margin | 7.9% | 15% | 12% | 10% | 7.8% | 8.5% |
| Return on equity (ROE) | 4.3% | 6.9% | 7.9% | 8.5% | 7.8% | 10% |
| Return on assets (ROA) | 3.0% | 2.4% | 3.0% | 3.5% | 3.1% | 4% |
The above ratios have been computed using the following formulas:
- Gross profit margin = gross profit on sales / sales
- EBITDA margin = (operating profit + depreciation and amortization) / sales
- Operating profit margin = operating profit / sales
- Net profit margin = net profit / sales
- Return on equity (ROE) = net profit attributable to Shareholders of the Parent Company / average annual equity attributable to Shareholders of the Parent Company
- Return on assets (ROA) = net profit attributable to Shareholders of the Parent Company / average annual assets
* Data after restatement
| LIQUIDITY RATIOS | 2017 | 2016 | 2015 | 2014 | 2013* | 2012 |
|---|---|---|---|---|---|---|
| Working capital (PLN mln) | 1,792.1 | 1 835.9 | 1 872.5 | 1 723.4 | 1 113.1 | 1 326.2 |
| Current liquidity ratio | 1.7 | 1.7 | 1.8 | 2.0 | 1.8 | 1.9 |
| Quick liquidity ratio | 1.6 | 1.6 | 1.7 | 1.9 | 1.7 | 1.8 |
| Absolute liquidity ratio | 0.6 | 0.6 | 0.7 | 0.7 | 0.6 | 0.6 |
The above ratios have been computed using the following formulas:
- Working capital = current assets - current liabilities
- Current liquidity ratio = current assets / current liabilities
- Quick liquidity ratio = (current assets - inventories - deferred expenses) / current liabilities
- Absolute liquidity ratio = (financial assets available for sale + financial assets held to maturity + cash and short-term bank deposits) / current liabilities
* Data after restatement
| DEBT RATIOS | 2017 | 2016 | 2015 | 2014 | 2013* | 2012 |
|---|---|---|---|---|---|---|
| Debt ratio | 31.8% | 32.2% | 30.9% | 25.3% | 25.5% | 25% |
| Debt / equity ratio | 15.6% | 15.9% | 15.1% | 10.8% | 9.2% | 11% |
| Debt / (debt + equity) ratio | 13.5% | 13.6% | 13.1% | 9.7% | 8.4% | 10% |
The above ratios have been computed using the following formulas:
- Debt ratio = (long-term liabilities + short-term liabilities) / assets
- Debt / equity ratio = interest-bearing bank credits and debt securities + financial lease / shareholders' equity
- Debt / (debt + equity) ratio = interest-bearing bank credits and debt securities + financial lease / (interest-bearing bank credits and debt securities + shareholders' equity)
* Data after restatement