Annual Report 2018
Our company is financially solid, expanding operations to meet customer demand, and benefiting from strong brand awareness and reputation.
An attractive mix of high organic growth and productivity has contributed to a financial result in which net sales increased close to 15 percent in local currencies; EBIT margin grew by two percentage points, reaching almost 13 percent; and net profit reached EUR 265 million, a EUR 51 million improvement over 2017. We remain net debt free with net positive cash position of EUR 375 million.
In 2019, we expect sales growth in the range of 4-8 percent in local currencies and an EBIT margin around 12 percent. Investments excluding acquisitions are expected to reach around EUR 330 million for the year.