Henkel Annual Report 2011


Key financial ratios
  2010 2011
Operating debt coverage1   

(Net earnings + Amortization and
depreciation + interest element
of pension provisions) ÷ Net borrowings
and pension provisions

0.714 0.832
Interest coverage ratio    

(EBITDA ÷ Net interest expense including interest
element of pension provisions) 

12.8 14.6

Equity ratio
(Equity ÷ Total assets)

0.454 0.472


1
Hybrid bond included on 50 percent debt basis only. Prior-year figures not adjusted.