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Annual Report 2016

Consolidated Statement of Comprehensive Income

for the 2016 financial year (January 1 to December 31, 2016)

    2016   2015  
  Note in CHF 1 000 in % in CHF 1 000 in %
Continuing operations          
Net sales 4 552 237 100.0 508 936 100.0
           
Change in finished and semi-finished goods and work in progress   -893   175  
Capitalized self-generated assets 5 5 603   2 393  
Material cost   -245 049   -238 992  
Personnel expenses 1) 6 -159 041   -149 276  
Other operating expenses 7 -71 769   -63 943  
Other operating income 8 1 980   2 129  
Earnings before interest, taxes, depreciation and amortization (EBITDA) 1) 2)   83 068 15.0 61 422 12.1
           
Depreciation and amortization 18, 19 -34 646   -28 521  
Operating profit (EBIT) 1) 3)   48 422 8.8 32 901 6.5
           
Financial expenses 9 -11 716   -17 755  
Financial income 10 8 527   14 068  
Earnings before taxes   45 233 8.2 29 214 5.7
           
Income taxes 11, 12 -13 171   -9 139  
Net income from continuing operations   32 062 5.8 20 075 3.9
Discontinued operations          
Effect on net income from discontinued operations, net of income taxes 3   720  
Net income attributable to Feintool Holding shareholders   32 062 5.8 20 795 4.1

1)In financial year 2016, the Swiss pension fund approved an amendment to the regulations, which, according to IAS 19, had a positive impact on the statement of comprehensive income to the tune of kCHF 7 083. This effect results in an EBIT margin of 8.8 %. Without this impact, the results would have been as follows:
EBITDA  kCHF 75 985;  EBITDA margin   13.8 %
EBIT       kCHF 41 339; EBIT margin        7.5 %
Further reference is made to Sections 1 and 6 of the Notes.

2)Includes the operating result before depreciation and amortization, (net) financial income and income tax.

3)Includes the operating result before (net) financial income and income tax.

    2016   2015  
  Note in CHF 1 000 in % in CHF 1 000 in %
Other comprehensive income          
Items that may be reclassified to profit or loss          
Translation differences   1 644   -5 907  
           
Items that may not be reclassified to profit or loss          
Reassessment of net defined benefit liability (asset)   -7 036   -5 075  
Income taxes on other comprehensive income   1 632   1 096  
Total other comprehensive income   -3 760   -9 886  
           
Total comprehensive income attributable to Feintool Holding shareholders   28 302   10 909  
           
Net income attributable to Feintool Holding shareholders   32 062   20 795  
Total comprehensive income attributable to Feintool Holding shareholders   28 302   10 909  
           
Basic earnings per share (in CHF) 13 7.20   4.67  
Diluted earnings per share (in CHF) 13 7.20   4.67  
           
Basic earnings per share from continuing operations (in CHF) 3, 13 7.20   4.51  
Diluted earnings per share from continuing operations (in CHF) 3, 13 7.20   4.51  
EBIT          
Continuing operations   48 422   32 901  
Discontinued operations     720  
Total EBIT of the Feintool Group   48 422   33 621  
Number of employees          
Number of employees excl. 68 (previous year 75) trainees 6 2 239   2 049