Financials

The consolidated figures for 2016 and the comparative figures for 2015 have been prepared for the first time in accordance with International Financial Reporting Standards (IFRS).

EUR million 2016 2015 2014 2013 2012
  IFRS IFRS FAS FAS FAS
Turnover 944 851 933 974 970
outside Finland, % 82 81 80 79 74
EBITDA 123 119 131 132 125
EBIT 73 76 43 36 24
Profit from continuing operations 58 44 28 1 -5
Balance sheet total 1,003 1,152 923 995 1,105
Free cash flow 224 59 103 107 83
Capital employed 692 837 710 753 817
Return on capital employed, % 9.5 9.7 5.8 4.6 2.9
Net debt 178 305 247 288 327
Net gearing, % 39 67 59 70 75
Equity ratio, % 45 40 45 42 39
Net debt / EBITDA 1.4 2.6 1.9 2.2 2.6
Gross investments 64 85 31 27 44
Number of personnel, end of period 4,092 4,255 4,074 4,322 4,417

Calculation of key figures

Free cash flow = EBITDA +/- change in net working capital - investments + divestments +/- adjustments.
Return on capital employed, % = 100 x EBIT / Capital employed, annual average.
Net gearing, % = 100 x interest bearing liabilities - interest bearing assets / Total equity.
Equity ratio, % = 100 x total equity / Balance sheet total - advances received.
Net debt / EBITDA = Interest bearing liabilities - interest bearing assets / EBITDA.