Report by the Board of Directors

KEY FIGURES
 
  2017 2016
Net sales, EUR million 1 543.2 1 492.6
Operating profit (EBIT), EUR million 139.2 140.8
Operating margin, % 9.0 9.4
Adjusted 1) operating profit (EBIT), EUR million 161.5 152.2
Adjusted 1) operating margin, % 10.5 10.2
Profit before taxes, EUR million 135.8 136.8
Earnings per share, EUR 1.46 1.46
Adjusted 1) earnings per share, EUR 1.69 1.58
Equity per share, EUR 6.45 6.62
Dividend per share, EUR 1.40 1.37
Capital expenditure, EUR million 50.8 61.6
Acquisitions, EUR million 49.3 37.6
Return on equity, % 22.4 22.1
Return on capital employed, % 20.5 21.6
Gearing, % 32.7 22.5
Equity ratio, % 42.6 47.3
Personnel on average 13 889 13 472
Personnel on 31 Dec 14 329 13 876