Key figures

Consolidated income statement

Net income (loss) attributable to owners
Diluted earnings (loss) per share (€)
(52)
(0.80)
(67) NA
Weighted average shares outstanding, after dilution 64,922,962 58,088,069
€ millions
at 31 December 2016
2016 pro forma(1) 2015 pro forma(2) % change(4) 2016 pro forma/2015 pro forma 2016 reported  2015 reported
% change(4)
2016/2015 reported
Sales 2,933 3,153 -7.0% 2,975 3,300 -9.9%
EBITDA
EBITDA margin (%)
105
3.65%
106
3.4%
-1.1%
+0.2 points
107
3.6%
126
3.8%
-14.9%
0,2 points
Recurring operating income
Operating margin
61
2.1%
57
1.8%
+7.5%
+0.3 points
63
2.1%
73
2.2%
-13.5%
-0.1 points
  1. 2016 pro forma data exclude the contribution of Arjowiggins Healthcare which was sold in June 2016.
  2. 2015 pro forma data presented in 2016 exclude the contribution of the Arjowiggins businesses sold in H1 2015 (Security Solutions and Brazilian  banknote business) and in H1 2016 (Arjowiggins Healthcare).
  3. Recurring operating income before depreciation and amortisation and excluding movements in provisions, corresponding to EBITDA as used  previously by the Group.
  4. Percentage and margin changes are based on figures rounded out to one decimal place.

Consolidated statement of financial position

€ millions
at 31 December 2016
2016 2015
Goodwill 305 301
Property, plant & equipment and intangible assets 183 221
Other fixed assets 186 189
Operating WCR 255 259
Other current assets (liabilities) (81) (105)
Assets (liabilities) held for sale 14 25
Total assets 862 890
     
Shareholders’ equity 390 468
Non-controlling interests
Provisions 157 187
Net debt 315 235
Total equity and liabilities 862 890

Change in net debt

€ millions 2016 2015
Consolidated net debt at 31 December (315) (235)
Consolidated net debt at 1 January (235)  (311) 
EBITDA 107 126
Change in WCR of businesses (27) 8
CAPEX (38) (49)
Asset disposals 11 14
Net finance costs (34) (35)
Income tax expense (7) (12)
Restructuring costs & other non-recuring items (93) (93)
Disposals/acquisitions 18 135
Financial restructuring program (6)
Currency impact (6) 1
Other items (11) (13)