(Per cent)

U.K.

U.S.A.

SELECTED FINANCIAL RATIOS

(60)

(67)

1995-96

1996-97

1997-98

1995-96

1996-97

1997-98

1

2

3

4

5

6

7

A.

Capital structure ratios

1.

Net fixed assets to total net assets

34.2

35.1

33.9

28.2

30.1

31.5

2.

Net worth to total net assets

48.4

47.7

47.3

43.3

41.6

44.1

3.

Debt to equity

24.5

30.0

37.0

22.9

33.2

34.5

4.

Debt to equity

30.8

36.7

43.9

24.0

34.4

35.5

(equity adjusted for revaluation reserve)

5.

Short term bank borrowings to inventories

65.1

53.2

49.3

34.8

26.3

27.8

6.

Total outside liabilities to net worth

106.5

109.4

111.5

131.1

140.1

127.0

B.

Liquidity ratios

7.

1.5

1.5

1.6

1.4

1.4

1.4

8.

Quick assets to current liabilities

58.9

64.3

64.7

56.5

67.3

69.2

9.

Current assets to total net assets

58.9

58.6

56.8

63.2

62.1

58.3

10.

Sundry creditors to current assets

25.7

26.6

26.9

37.7

31.5

32.9

11.

Sundry creditors to net working capital

78.8

75.3

70.6

142.6

109.6

107.8

C.

Assets utilization and turnover ratios

12.

Sales to total net assets

88.4

89.9

78.5

118.8

113.9

106.0

13.

Sales to gross fixed assets

180.0

177.5

158.1

248.5

236.5

214.6

14.

Inventories to sales

22.4

21.5

23.9

19.9

18.6

18.2

15.

Sundry debtors to sales

21.3

22.6

19.9

16.5

15.5

19.0

16.

Exports to sales

12.3

11.1

13.4

7.5

7.9

7.9

17.

Gross value added to gross fixed assets

48.7

50.5

46.7

58.6

57.7

53.3

18.

Raw materials consumed to value of production

49.6

48.8

45.4

59.1

58.3

58.0

D.

Sources and uses of funds ratios @

19.

Gross fixed assets formation to

total uses of funds

51.7

36.5

44.7

49.5

20.

Gross capital formation to

total uses of funds

64.6

49.4

54.0

55.3

21.

External sources of funds to

total sources of funds

46.0

57.4

58.9

51.1

22.

Increase in bank borrowings to

total external sources

6.3

10.5

2.0

20.4

23.

Gross saving to gross capital formation

81.9

91.3

71.6

100.3

E.

Profitability and profit allocation ratios

24.

Gross profits to total net assets

14.0

15.4

14.0

16.8

15.8

13.7

25.

Gross profits to sales

15.8

17.1

17.9

14.1

13.9

12.9

26.

Profits after tax to net worth

15.8

14.8

14.2

19.9

20.1

18.6

27.

Tax provision to profits before tax

36.1

38.7

35.2

38.9

37.4

30.7

28.

Profits retained to profits after tax

62.7

65.1

70.4

58.2

62.1

66.3

29.

Dividends to net worth

5.9

5.1

4.2

8.3

7.6

6.3

30.

Ordinary dividends to ordinary paid-up

capital

39.0

37.1

32.6

42.4

43.2

38.8

(Per cent)

Germany

Switzerland

SELECTED FINANCIAL RATIOS

(32)

(22)

1995-96

1996-97

1997-98

1995-96

1996-97

1997-98

1

8

9

10

11

12

13

A.

Capital structure ratios

1.

Net fixed assets to total net assets

34.7

36.2

38.8

26.9

29.3

37.1

2.

Net worth to total net assets

36.1

36.1

35.8

36.2

42.6

43.3

3.

Debt to equity

33.3

39.8

30.2

11.4

13.1

29.5

4.

Debt to equity

34.2

40.6

30.8

11.6

13.3

29.9

(equity adjusted for revaluation reserve)

5.

Short term bank borrowings to inventories

63.1

52.6

68.4

31.2

39.7

34.5

6.

Total outside liabilities to net worth

176.8

176.7

179.1

176.5

134.9

130.7

B.

Liquidity ratios

7.

Current assets to current liabilities *

1.2

1.2

1.1

1.1

1.2

1.4

8.

Quick assets to current liabilities

49.7

51.7

49.0

52.1

60.9

68.2

9.

Current assets to total net assets

61.8

61.4

58.1

66.5

63.2

60.0

10.

Sundry creditors to current assets

39.1

41.8

43.0

36.6

35.4

35.9

11.

Sundry creditors to net working capital

217.9

211.4

451.7

358.8

197.0

133.0

C.

Assets utilization and turnover ratios

12.

Sales to total net assets

111.2

107.8

109.4

96.3

96.6

91.2

13.

Sales to gross fixed assets

166.8

155.6

142.3

193.1

179.5

149.0

14.

Inventories to sales

23.0

23.1

19.3

21.9

19.4

16.5

15.

Sundry debtors to sales

19.6

21.0

20.9

26.5

28.4

26.9

16.

Exports to sales

10.0

9.6

12.1

6.6

6.5

6.3

17.

Gross value added to gross fixed assets

49.4

47.5

41.6

53.1

52.4

36.9

18.

Raw materials consumed to value of production

50.7

50.6

48.2

37.6

47.8

54.3

D.

Sources and uses of funds ratios @

19.

Gross fixed assets formation to

total uses of funds

58.8

96.9

61.8

90.5

20.

Gross capital formation to

total uses of funds

74.1

72.6

62.6

82.3

21.

External sources of funds to

total sources of funds

55.4

37.7

9.5

49.5

22.

Increase in bank borrowings to

total external sources

27.3

-28.5

79.4

-15.8

23.

Gross saving to gross capital formation

60.6

107.8

143.4

67.5

E.

Profitability and profit allocation ratios

24.

Gross profits to total net assets

13.6

12.9

9.4

13.4

14.1

10.1

25.

Gross profits to sales

12.2

11.9

8.6

13.9

14.6

11.1

26.

Profits after tax to net worth

16.7

14.3

8.0

22.7

26.6

15.4

27.

Tax provision to profits before tax

42.0

40.9

49.4

32.3

28.9

26.1

28.

Profits retained to profits after tax

70.6

69.3

49.1

82.3

82.4

80.4

29.

Dividends to net worth

4.9

4.4

4.1

4.0

4.7

3.0

30.

Ordinary dividends to ordinary paid-up

capital

28.3

28.3

27.2

26.4

37.4

23.0

(Per cent)

SELECTED FINANCIAL RATIOS

Japan

Sweden

(23)

(6)

1995-96

1996-97

1997-98

1995-96

1996-97

1997-98

1

14

15

16

17

18

19

A.

Capital structure ratios

1.

Net fixed assets to total net assets

37.0

38.0

40.2

40.0

37.5

39.8

2.

Net worth to total net assets

40.9

42.6

44.3

41.4

41.5

42.3

3.

Debt to equity

33.7

33.6

34.9

64.1

62.6

65.3

4.

Debt to equity

34.8

35.2

36.2

64.1

62.6

65.3

(equity adjusted for revaluation reserve)

5.

Short term bank borrowings to inventories

54.2

46.7

66.0

59.0

45.6

43.8

6.

Total outside liabilities to net worth

144.6

134.5

125.9

141.7

141.0

136.5

B.

Liquidity ratios

7.

Current assets to current liabilities *

1.3

1.4

1.4

1.8

1.9

1.9

8.

Quick assets to current liabilities

48.6

54.2

62.0

97.2

95.7

107.2

9.

Current assets to total net assets

59.8

59.8

55.7

58.1

61.6

58.4

10.

Sundry creditors to current assets

34.0

32.2

32.0

13.2

9.2

10.6

11.

Sundry creditors to net working capital

140.2

114.2

114.5

29.5

19.6

21.8

C.

Assets utilization and turnover ratios

12.

Sales to total net assets

152.6

154.9

147.4

89.6

86.0

81.4

13.

Sales to gross fixed assets

253.5

252.8

230.0

119.5

115.8

99.4

14.

Inventories to sales

16.6

15.0

13.0

23.3

28.1

24.5

15.

Sundry debtors to sales

11.4

10.8

11.6

30.1

32.5

31.5

16.

Exports to sales

6.8

11.2

8.3

5.8

5.4

6.9

17.

Gross value added to gross fixed assets

47.1

46.1

43.4

45.6

46.8

34.4

18.

Raw materials consumed to value of production

62.6

63.0

60.6

43.0

41.0

38.8

D.

Sources and uses of funds ratios @

19.

Gross fixed assets formation to

total uses of funds

51.1

60.2

46.1

112.6

20.

Gross capital formation to

total uses of funds

61.5

57.4

81.0

72.4

21.

External sources of funds to

total sources of funds

47.8

40.1

35.4

29.1

22.

Increase in bank borrowings to

total external sources

18.7

37.7

1.5

-105.4

23.

Gross saving to gross capital formation

78.2

98.1

82.8

139.1

E.

Profitability and profit allocation ratios

24.

Gross profits to total net assets

16.4

16.0

15.8

18.8

18.4

9.7

25.

Gross profits to sales

10.7

10.3

10.7

21.0

21.4

11.9

26.

Profits after tax to net worth

20.6

16.9

18.7

17.8

16.7

7.3

27.

Tax provision to profits before tax

34.6

38.6

32.8

44.8

46.0

39.3

28.

Profits retained to profits after tax

78.6

76.5

76.9

66.7

64.4

65.0

29.

Dividends to net worth

4.4

4.0

4.3

6.0

6.0

2.5

30.

Ordinary dividends to ordinary paid-up

capital

18.5

19.8

25.7

21.9

24.3

10.9

(Per cent)

SELECTED FINANCIAL RATIOS

Netherlands

Mauritius

(11)

(9)

1995-96

1996-97

1997-98

1995-96

1996-97

1997-98

1

20

21

22

23

24

25

A.

Capital structure ratios

1.

Net fixed assets to total net assets

22.8

26.5

27.0

32.7

33.1

37.6

2.

Net worth to total net assets

37.8

38.0

37.5

50.0

50.8

57.8

3.

Debt to equity

17.4

21.6

20.4

33.6

30.2

27.9

4.

Debt to equity

18.6

22.9

22.6

33.8

30.4

27.9

(equity adjusted for revaluation reserve)

5.

Short term bank borrowings to inventories

28.1

39.1

40.9

45.7

57.2

44.0

6.

Total outside liabilities to net worth

164.6

163.3

166.9

99.9

96.7

73.1

B.

Liquidity ratios

7.

Current assets to current liabilities *

1.3

1.3

1.3

1.7

1.7

2.2

8.

Quick assets to current liabilities

65.5

69.6

75.6

68.4

61.5

75.8

9.

Current assets to total net assets

72.6

70.1

70.2

56.0

58.2

56.7

10.

Sundry creditors to current assets

43.5

47.4

49.3

19.3

17.2

15.2

11.

Sundry creditors to net working capital

173.6

183.4

207.9

47.4

40.9

28.2

C.

Assets utilization and turnover ratios

12.

Sales to total net assets

164.8

162.9

153.3

77.7

75.7

75.4

13.

Sales to gross fixed assets

376.0

335.0

319.0

156.8

148.4

134.1

14.

Inventories to sales

17.3

14.9

13.8

25.4

24.7

24.2

15.

Sundry debtors to sales

15.9

17.2

21.4

17.4

17.5

13.6

16.

Exports to sales

3.0

4.1

3.8

4.9

6.7

9.4

17.

Gross value added to gross fixed assets

67.7

60.4

58.3

50.8

48.2

46.1

18.

Raw materials consumed to value of production

66.8

66.2

66.4

41.4

40.6

39.1

D.

Sources and uses of funds ratios @

19.

Gross fixed assets formation to

total uses of funds

80.1

30.5

49.1

71.5

20.

Gross capital formation to

total uses of funds

58.1

32.6

57.9

84.1

21.

External sources of funds to

total sources of funds

35.9

66.2

45.3

48.3

22.

Increase in bank borrowings to

total external sources

57.4

8.4

58.0

12.7

23.

Gross saving to gross capital formation

106.5

131.6

91.4

57.7

E.

Profitability and profit allocation ratios

24.

Gross profits to total net assets

11.7

11.5

9.1

14.5

14.4

15.3

25.

Gross profits to sales

7.1

7.1

5.9

18.7

19.1

20.3

26.

Profits after tax to net worth

17.6

10.6

10.4

16.5

14.8

14.4

27.

Tax provision to profits before tax

37.8

46.5

36.6

30.4

30.7

33.7

28.

Profits retained to profits after tax

76.0

72.7

79.6

62.1

64.3

65.2

29.

Dividends to net worth

4.2

2.9

2.1

6.2

5.3

5.0

30.

Ordinary dividends to ordinary paid-up

capital

22.9

16.7

14.1

34.4

31.5

33.6

For footnotes, please refer to Statement 5.