Annual Report 2015

Swipe here for further topics

Share information

  2015 2014 2013 2012 2011
Share capital          
Number of shares as of 31 December          
Registered shares 4 100 898 4 100 898 4 100 898 4 100 898 4 100 898
Thereof entitled to dividend 4 100 898 4 100 898 4 100 898 4 100 898 4 100 898
Number of registered shareholders 14 005 13 446 12 269 14 212 13 966
Share prices in CHF          
Registered share          
Highest (intraday) 739 738 648 451 574
Lowest (intraday) 524 495 363 302 261
Closing as of 31 December 679 629 628 368 321
Earnings in CHF          
Per registered share 46 45 34 32 39
Price-earnings ratio 15 14 18 11 8
Market capitalization as of 31 December          
CHF million 2 785 2 579 2 573 1 509 1 316
As % of sales 76 68 68 41 36
As % of equity attributable to shareholders of Georg Fischer Ltd 258 244 275 161 112
Cash flow from operating activities in CHF          
Per registered share 80 61 76 56 61
Equity attributable to shareholders of Georg Fischer Ltd in CHF          
Per registered share 264 259 229 229 288
Dividend paid (proposed) in CHF million1 74 70 66 62 62
Dividend paid (proposed) in CHF          
Per registered share1 18 17 16 15 15
Pay-out ratio, % 39 38 47 47 38

1 In 2014, as a dividend of CHF 14.57 out of retained earnings and as a dividend of CHF 2.43 out of reserves from capital contributions. In 2013, as a par value reduction and as a dividend out of reserves from capital contributions. In 2012 and 2011, as a dividend out of reserves from capital contributions.

The consolidated financial statements have been prepared in accordance with Swiss GAAP FER since the beginning of 2013.
Prior-year figures have been adjusted accordingly. The 2011 financial year is presented according to IFRS.

Ticker symbols
Telekurs, Dow Jones (DJT): FI-N
Reuters: FGEZn

Security number: 175 230
ISIN: CH000175 230 9
Cedel / Euroclear Common Code: XS008592691

Share price 2011 - 2015

Light purple: GF daily closing (CHF) / Dark purple: SPI daily closing – rebasedLight purple: GF daily closing (CHF) / Dark purple: SPI daily closing – rebased

  

Market capitalization, earnings per share //

The market capitalization stood at CHF 2 785 million on 31 December 2015. Earnings per share is CHF 46 (previous year: CHF 45).

Proposed distribution of dividends //

At the Annual Shareholders’ Meeting, the Board of Directors will propose the payment out of retained earnings of a dividend in the amount of CHF 18 per registered share.

Significant shareholders //

As of 31 December 2015, no shareholder or shareholder group had voting rights in excess of 5%. LSV Asset Management, Chicago (USA), and the UBS Fund Management (Switzerland) AG, Basel (Switzerland), had voting rights between 3% and 5%.

Nine disclosure notifications were filed in the year under review: eight in relation to the BlackRock Group (see group structure as published on the SIX disclosure platform), held indirectly by BlackRock, Inc. (USA), and one in relation to Norges Bank (the Central Bank of Norway), Oslo (Norway).

Disclosure notifications pertaining to shareholdings in Georg Fischer Ltd that were filed with Georg Fischer Ltd and the SIX Swiss Exchange are published on the latter’s electronic publication platform and can be accessed via the following link:

Six Exchange Regulation Website

Structure of shareholders as of 31 December 2015

Number of shares Number of shareholders Number of shares %
1–100 11 763 9.5
101–1 000 2 016 13.2
1 001–10 000 204 10.9
10 001–100 000 19 13.7
> 100 000 3 12.5
Shares not registered in share register - 40.2
Total 14 005 100.0

Five-year overview Corporation

CHF million 2015 2014 2013 2012 2011
Order intake 3 662 3 836 3 795 3 691 3 734
Orders on hand at year-end1 612 634 577 565 666
Income statement          
Sales 3 640 3 795 3 766 3 720 3 638
EBITDA 422 399 380 351 370
Operating result (EBIT) 296 274 251 222 235
Net profit/loss 198 195 145 138 168
Cash flow          
Cash flow from operating activities 328 248 309 230 250
Depreciation on tangible fixed assets 122 122 126 125 121
Amortization on intangible assets 4 3 3 4 14
Additions to property, plant, and equipment –167 –152 –130 –132 –147
Cash flow from acquisitions and divestitures –2 –20 –66 –80  
Free cash flow before acquisitions/divestitures 190 110 174 99 103
Free cash flow 188 90 108 19 103
Balance sheet          
Current assets 1 934 1 801 1 989 1 584 1 651
Non-current assets 1 149 1 188 1 137 1 080 1 274
Assets 3 083 2 989 3 126 2 664 2 925
Current liabilities 1 221 981 1 282 839 904
Non-current liabilities 732 904 866 846 798
Equity 1 130 1 104 978 979 1 223
Invested capital (IC) 1 279 1 354 1 224 1 217 1 476
Net debt 238 354 352 334 294
Asset structure          
– Current assets % 63 60 64 59 56
– Non-current assets % 37 40 36 41 44
Capital structure          
– Current liabilities % 39 33 41 31 31
– Non-current liabilities % 24 30 28 32 27
– Equity % 37 37 31 37 42
Key figures          
Return on equity (ROE) % 17.7 18.7 14.8 14.2 14.0
Return on invested capital (ROIC) % 18.9 17.9 16.7 15.7 13.3
Return on sales (EBIT margin) % 8.1 7.2 6.7 6.0 6.5
Asset turnover 2.8 2.9 3.0 3.2 2.5
Cash flow from operating activities in % of sales 9.0 6.5 8.2 6.2 7.0
Employees          
Employees at year-end 14 424 14 140 14 066 13 412 13 606
Europe 8 783 8 676 8 548 8 871 9 465
– Thereof Germany 3 382 3 383 3 220 3 351 3 859
– Thereof Switzerland 2 642 2 686 2 539 2 577 2 650
– Thereof Austria 1 830 1 719 1 926 2 059 2 073
– Thereof Rest of Europe 929 888 863 884 883
Asia 3 502 3 455 3 468 3 226 3 077
– Thereof China 3 131 3 085 3 073 2 839 2 688
Americas 1 262 1 259 1 290 1 259 1 011
Rest of world 877 750 760 56 53

1 In 2012, change of definition for GF Piping Systems.

The consolidated financial statements have been prepared in accordance with Swiss GAAP FER since the beginning of 2013.
Prior-year figures have been adjusted accordingly. The 2011 financial year is presented according to IFRS.