EBITDAin CHF million


2015
117.6
2016
127.6

Free cash flowin CHF million


2015
82.3
2016
72.6

EPSin CHF (from continuing operations)


2015
12.51
2016
17.27

Net revenuesin CHF million


Gross profitin CHF million


Operating expense(net) / in CHF million


EBITin CHF million


Investmentsin CHF million


Employeesnumber of employees (FTE)


The figures for 2012 include the results of the Services and Trade divisions.

With EBIT above its previously announced guidance, at CHF 72.3 million, and a good overall performance, Valora can look back on 2016 as a positive year. Consolidated EBIT was + 31.1 % ahead of its 2015 level, enabling the Valora Group to raise its EBIT margin by + 0.8 percentage points to 3.4 %. This brings Valora significantly closer to the goals it has set itself for the medium term. Net revenues increased by + 0.8 %, to CHF 2 095.0 million. Group net profit came in at CHF 63.4 million, compared to CHF – 28.8 million in 2015, when results were overshadowed by the goodwill-impairment charges arising from the sale of the Trade division. A + 2.1 percentage-point increase in ROCE and free cash flow of CHF 72.6 million complete the picture of what has been a positive year for Valora.

At Retail Switzerland / Austria, the organisational efficiencies achieved and the synergies resulting from the integration of Naville Retail enabled the unit to achieve strong earnings growth in a market environment which remains challenging. Revenues from the record lottery jackpot which accumulated in Switzerland during November and December 2016 lent additional momentum to the business. Retail Germany / Luxembourg continued to grow. Having now largely streamlined its distribution network and operating models, and with its operational processes further enhanced, this unit has created a sound basis for further success in 2017.

Food Service grew through expansion, particularly at its Brezelkönig format in Switzerland, and maintained its excellent floor space productivity. The division also improved its gross-profit margin, especially in its B2B operations. Thanks to the investments made in its format, logistics and operations, Brezelkönig International is well placed to implement its franchise concept in 2017. Caffè Spettacolo has now been reassigned to Food Service Switzerland (for both 2015 and 2016). In the 2015 annual report its results were included in those for Retail Switzerland / Austria.

Bob Finance completed its first year of business with pleasing results. The projected interest income from loans granted exceeded the company’s operating costs, so that it was already able to report positive lifetime value in 2016.

Having sold Naville Distribution in August 2016 and the Naville building in Geneva in February 2017, Valora is now fully focused on its core business. The Group has begun 2017 with plenty of expansion and innovation initiatives in the pipeline. Through its purchase of Pretzel Baron, a young and aspiring pretzel producer in the US state of Ohio, Valora has paved the way for further international expansion of its core business and the enhancement of its position as one of the leading producers in the pretzel market. Furthermore, by replacing one of its production lines in Germany, Ditsch is also set to increase its output capacity.


Financial report
PDF, 858 KB

    2016 2015 2014 2013 2012
Nettoumsatzerlös 1) Mio. CHF 2 095.0 2 077.4 1 932.6 1 889.8 2 847.9
Veränderung % 0.8% 7.5% 2.3% -33.6% 1.1%
             
EBITDA 1) Mio. CHF 127.6 117.6 109.3 114.7 112.1
in % des Nettoumsatzerlöses % 6.1% 5.7% 5.7% 6.1% 3.9%
             
Betriebsergebnis (EBIT) 1) Mio. CHF 72.3 55.1 30.0 59.1 56.7
in % des Nettoumsatzerlöses % 3.4% 2.7% 1.6% 3.1% 2.0%
             
Reingewinn 1) Mio. CHF 62.5 46.8 15.4 29.2 38.5
Veränderung % 33.5% 203.7% -47.3% -24.0% -32.6%
in % des Nettoumsatzerlöses % 3.0% 2.3% 0.8% 1.5% 1.4%
in % des Eigenkapitals % 11.8% 9.2% 2.4% 4.0% 6.7%
             
Netto-Einnahmen (Netto-Ausgaben) 1)            
aus operativer Tätigkeit Mio. CHF 113.0 125.5 91.9 89.9 54.5
aus gewöhnlicher Investitionstätigkeit Mio. CHF -40.4 -43.2 -57.9 -38.7 -12.3
Free Cashflow 1) Mio. CHF 72.6 82.3 34.0 51.2 42.2
aus Unternehmenszusammenschlüssen (und langfristigen Finanzanlagen) Mio. CHF 13.2 -88.1 51.3 -3.1 -288.0
aus Finanzierungstätigkeit Mio. CHF -42.9 -60.2 -67.4 -52.4 282.5
             
Gewinn je Aktie 1) CHF 17.27 12.51 3.13 7.69 13.09
Veränderung % 38.0% 299.7% -59.3% -41.3% -35.3%
             
Free Cash Flow je Aktie 1) CHF 21.74 24.52 10.05 15.10 14.50
Veränderung % -11.3% 144.0% -33.4% 4.1% -22.2%
             
Flüssige Mittel 1) Mio. CHF 159.4 116.3 129.0 107.8 147.2
             
Eigenkapital Mio. CHF 530.9 506.0 630.6 730.3 577.8
Eigenkapitalquote % 45.5% 41.5% 44.0% 44.8% 35.9%
             
Anzahl Mitarbeiter per 31.12. 1) FTE 4 228 4 349 4 435 4 613 5 962
Veränderung % -2.8% -1.9% -3.9% -22.6% 2.8%
             
Nettoumsatzerlös pro Mitarbeiter 1) CHF 495 478 436 410 478
Veränderung % 3.7% 9.6% 6.3% -14.2% -1.7%
             
Anzahl eigene Verkaufsstellen Anzahl 1 872 1 838 1 647 1 690 1 606
davon Agenturen Anzahl 1 014 990 702 649 598
Nettoumsatzerlös pro Verkaufsstelle 2) CHF 000 1 119 1 130 1 173 1 118 1 208
Anzahl Franchise-Verkaufsstellen 3) Anzahl 543 471 459 404 999

All totals and percentages are based on unrounded figures from the consolidated financial statements

  1. From continuing operations, in 2012 incl. the divisions Valora Services and Trade
  2. Only Valora Retail and Food Service (as of 2013)
  3. In the 2013 annual report, the franchisee figures for Retail Germany also included partner outlets