Key figures

Group summary (DKK million)
 2010
 2009
2008 
2007
2006
Revenue
9,451
8,440
9,821
8,150
7,370
EBITDA
753
588
 757
 764
789
EBIT before goodwill impairment
369
192
 338
 439
472
Operating profit (EBIT)
369
190
 124
 439
472
Profit/(loss) after tax in associates
(1)
(11)
 4
 (3)
4
Profit/loss from divestment of equity investments
1
0
21
 0
283
Value adjustment of financial investments *
(518)
41
 (872)
 1,467
692
Net financials before value adjustment of Vestas shares
(92)
(118)
 (144)
 (137)
 (103)
Profit/(loss) before tax
(241)
102
(865)
 1,766
1,348
Tax on the profit/(loss) for the year
115
 (29)
(38)
 (102)
(108)
Profit for the year from continuing operations
(127)
 73
(904)
 1,664
1,240
Profit for the yare from discontinuing operations
167
78
0
20
75
Profit/loss for the year
40
 151
 (903)
 1,683
1,315
 
 
 
 
 
 
Share of equity attributable to shareholders of Schouw & Co.
4,392
4,455
4,415
4,972
3,461
Minority interests
4
299
220
 669
381
Total equity
4,395
4,753
 4,635
 5,642
3,841
Total assets
8,900
9,659
10,153
 10,316
7,466
Net interest-bearing debt
2,166
2,281
2,996

2,641

2,072
Working capital
1,614
1,455
2,208
1,842
1,596
 
 
 
 
 
 
Other financial data
 
 
 
 
 
Number of employees
3,166
3,334
3,743
3,541
3,352
Investments in property, plant and equipment
472
208
 335
309
537
Depreciation of property, plant and equipment
318
322
328
301
293
Return on equity (%)
(0.5)
2.5
(19.1)
 39.2
43.0
ROIC (%) 
10.0
5.7
7.9
10.8
14.2
Equity ratio (%) 
49.4
49.2
 45.6
54.7
51.5
Cash flow from operating activities
444
1,191
273
281
420
EBITDA margin (%)
8.0
7.0
7.7
9.4
10.7
EBIT margin (%)
3.9
2.3
1.3
5.4
6.4
 
 
 
 
 
 
Per share data **
 
 
 
 
 
Earnings per share (of DKK 10)
(0.97)
4.43
(35.34)
70.74
 52.76
Diluted earnings per share (of DKK 10)
(0.97)
 4.43
 (35.34)
 70.45
 52.56
Dividend per share (of DKK 10)
3.00
 3.00
3.00
 3.00
 3.00
Net asset value per share (of DKK 10)
183.93
 177.15
 168.25
215.42
 147.99
Share price at year end (of DKK 10)
133.50
 94.45
 76.21
220.70
 180.09
Price/net asset value
0.73
0.53
045
1.02
 1.22
P/E
Neg.
 21.32
 Neg.
3.12
341
Market capitalisation
3.188
 2,375
 2,000
 5,094
 4,211

The financial ratios have been calculated in accordance with “Recommendations & Ratios 2010”, issued by the Danish Society of Financial Analysts.

* Financial investments consist of the holdings of shares in Vestas and Lerøy.

** Key ratios per share have been adjusted to reflect the issue of bonus shares.