VAT again delivers record results in 2022 on strong demand, market leadership and operational flexibility
|In CHF million||2022||2021||Change|
|Order backlog as of December 31||517.7||461.2||12.3%|
|Gross profit margin||64.1%||63.3%||–|
|Net income margin||26.8%||24.1%||–|
|Basic earnings per share (in CHF)||10.23||7.25||41.1%|
|Diluted earnings per share (in CHF)||10.22||7.24||41.0%|
Cash flow from operating activities
|Free cash flow2||228.2||195.7||16.6%|
|Free cash flow margin||19.9%||21.7%||–|
|Free cash flow conversion rate3||57.0%||63.6%||–|
|Free cash flow to equity4||224.6||192.0||17.0%|
As of December 31
In CHF million
|Return on invested capital (ROIC)||57.3%||53.8%||–|
|Dividend per share7 (in CHF)||6.25||5.50||13.6%|
Number of employees9
- Capex: acquisitions of subsidiaries net of cash, purchases of property, plant and equipment, and intangible assets and proceeds from sale of property, plant and equipment.
- Free cash flow: cash flow from operating activities minus cash flow from investing activities.
- Free cash flow conversion rate: free cash flow as a percentage of EBITDA.
- Free cash flow to equity: free cash flow less interest paid.
- Invested capital is defined as total assets less non-current liabilities.
- Net operating profit less adjusted taxes (NOPAT) is calculated as EBITDA minus depreciation and amortization plus finance income less taxes at the average Group rate of 15.9% (previous year 16.1%).
- 2022 dividend proposal of the VAT Board of Directors to its shareholders at the AGM on May 16, 2023; CHF 6.25 per share to be paid from accumulated gains.
- Percentage of free cash flow to equity proposed to be paid out as dividend
- Number of employees expressed as full-time equivalents (FTE)