31 December 2014
(X EUR 1,000) IFRS IFRS IFRS IFRS IFRS
2014 2013 2012 2011 2010
restated restated
Result
Net sales 9,971 11,180 11,971 15,717 15,563
Gross margin 8,184 9,021 9,688 12,342 12,242
EBITDA -722 870 703 1,865 2,361
EBIT (operating result) -1,514 -13 -181 709 733
EBT -1,675 -243 -507 408 207
Cash flow (net result and depreciation) -901 599 603 1,744 2,076
Cash flow from operating activities -262 17 899 1,939 1,689
Net result -1,693 -284 -281 588 448
Capital, debt & liquidity ratios
Total assets 13,617 13,941 12,915 12,857 13,726
Group equity 3,706 5,396 5,457 6,139 5,647
Net debt 2,159 2,113 3,216 2,686 3,334
Capital (net debt + equity) 5,865 7,509 8,673 8,824 8,981
Gearing ratio (net debt/ capital) 37% 28% 37% 30% 37%
Solvency (group equity / total liabilities) 27% 39% 42% 48% 41%
Debt ratio (net debt / EBITDA) -2.99 2.43 4.57 1.44 1.41
Net working capital -125 -1.331 -1.422 -831 -569
Working capital ratio 0.95 0.68 0.63 0.79 0.87
Assets
Tangible fixed assets 5,567 5,446 6,347 5,732 5,710
Investments in tangible fixed assets 499 535 1,475 1,024 681
Depreciation of tangible fixed assets 792 869 860 1,156 1,600
Data per share (x EUR 1)
Capital and reserves 0.09 0.14 0.15 0.17 0.16
Operating results -0.03 0.00 -0.01 0.02 0.02
Cash flow -0.00 0.00 0.03 0.05 0.05
Net result -0.03 -0.01 -0.01 0.02 0.01
Share price: year-end 0.25 0.16 0.15 0.16 0.17
Share price: highest 0.35 0.18 0.23 0.31 0.19
Share price: lowest 0.15 0.14 0.15 0.14 0.15
Issue of nominal shares
At year-end (x 1,000) 43,519 38,674 35,769 35,769 35,769
Number of FTEs (permanent)
At year-end 94 96 103 106 120
Average 97 99 103 111 124
Sales (total) / average FTEs (permanent) 103 113 116 142 126