RUAG posts higher earnings despite difficult environment

International technology group RUAG posted slightly higher net sales of CHF 1,752m in 2013 (previous year: CHF 1,741m). Earnings before interest and taxes (EBIT) came to CHF 115m, similar to the previous year’s level (CHF 113m). The EBIT margin (EBIT/operating performance) increased slightly to 6.6% (6.3%), while net profit rose by CHF 16m to CHF 94m. Civil business contributed 56% to sales. With a 56% share of sales (50%), revenue from civil business exceeded that of military business, which contributed 44% (50%) of sales. Cash flow from operating activities came to CHF 142m (CHF 130m). Free cash flow fell to CHF 100m (CHF 150m) owing to the acquisition of Ascom Defense in 2012.