A 
26.90
-0.74%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€508.4m
FY2018FY2025
Net income
€45.3m
FY2018FY2025
Free cash flow
€36.0m
FY2018FY2025
Shareholders' equity
€111.9m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €508.4m | €447.4m | €408.0m | €345.9m | €282.0m | €264.7m | €255.0m | €226.4m |
| Research and development | €5.6m | €4.2m | €3.1m | €2.9m | €2.9m | €1.9m | — | €2.3m |
| Operating income | €66.1m | €38.9m | €24.2m | €14.3m | €18.0m | €23.5m | €13.2m | €9.7m |
| Net income | €45.3m | €18.9m | €12.1m | €7.7m | €8.5m | €1.0m | €893,000 | €600,000 |
| Diluted earnings per share | 0.79 | 0.33 | 0.21 | 0.13 | 0.15 | 0.02 | 0.02 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | €467.4m | €372.1m | €327.8m | €319.4m | €285.3m | €226.3m | €237.8m | €226.7m |
| Cash and short-term investments | €92.5m | €90.0m | €62.4m | €58.3m | €60.4m | €37.5m | €21.3m | €13.5m |
| Total liabilities | €347.1m | €288.3m | €253.8m | €220.0m | €193.8m | €170.6m | €183.9m | €200.9m |
| Debt | €97.9m | €79.4m | €69.2m | €64.8m | €81.3m | €79.2m | €80.0m | €88.3m |
| Shareholders' equity | €111.9m | €83.8m | €73.9m | €99.5m | €52.8m | €21.0m | €53.8m | €25.8m |
| Shares outstanding | 57m | 57m | 57m | 57m | 57m | 57m | 57m | 57m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | €51.1m | €41.8m | €31.4m | €21.7m | €7.9m | €20.7m | €21.8m | €19.2m |
| Capital spending | −€15.0m | −€20.7m | −€16.1m | −€14.0m | −€12.2m | −€11.7m | −€11.7m | −€7.9m |
| Free cash flow | €36.0m | €21.1m | €15.3m | €7.7m | −€4.3m | €9.1m | €10.1m | €11.3m |
| Dividends paid | −€9.4m | −€6.0m | −€2.3m | −€2.6m | −€53.3m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €277.9m | €252.2m | €259.1m | €129.6m | €222.5m | €227.9m | €113.9m | €217.2m |
| Operating income | €41.9m | €32.9m | €30.6m | €15.3m | €21.4m | €17.6m | €8.8m | €15.0m |
| Net income | €30.6m | €25.4m | €19.9m | €10.0m | €11.5m | €7.4m | €3.7m | €7.8m |
| Diluted earnings per share | 0.54 | 0.44 | 0.35 | 0.17 | 0.20 | 0.13 | 0.07 | 0.14 |
| Cash from operations | €35.0m | €29.0m | €21.0m | €10.0m | €26.0m | €15.0m | €7.0m | €26.0m |
| Capital spending | −€11.0m | −€12.0m | −€2.0m | −€1.0m | −€9.0m | −€1.0m | — | −€5.0m |
| Free cash flow | €24.0m | €17.0m | €19.0m | €9.0m | €17.0m | €14.0m | — | €21.0m |
| Total assets | €588.4m | €467.4m | €385.1m | €385.1m | €372.1m | €331.5m | €331.5m | €327.8m |
| Cash and short-term investments | €100.4m | €92.5m | €82.0m | €82.0m | €90.0m | €65.7m | €65.7m | €64.8m |
| Debt | €56.9m | €97.9m | €118.4m | €49.0m | €116.2m | €104.9m | €40.7m | €103.6m |
| Shareholders' equity | €158.0m | €111.9m | €80.8m | €80.8m | €83.8m | €67.3m | €67.3m | €73.9m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 13.0% | 8.8% | 5.7% | 4.5% | 6.4% | 5.6% |
| Net margin | 8.9% | 4.2% | 3.0% | 2.2% | 3.0% | 0.4% |
| Return on equity | 40.5% | 22.6% | 16.3% | 7.7% | 16.2% | 4.9% |
| Return on assets | 9.7% | 5.1% | 3.7% | 2.4% | 3.0% | 0.5% |
| Free cash flow yield | 4.8% | 3.8% | 2.9% | 2.2% | — | — |
| Revenue growth | 13.6% | 9.7% | 18.0% | 22.6% | 6.6% | 3.8% |
| Earnings growth | 139.6% | 56.7% | 56.9% | -10.0% | 730.2% | 15.2% |
| Current ratio | 1.21x | 1.25x | 1.22x | 1.16x | 1.22x | 1.09x |
| Debt to equity | 0.87x | 1.39x | 1.41x | 0.72x | 1.59x | 3.78x |
| Equity ratio | 23.9% | 22.5% | 22.6% | 31.1% | 18.5% | 9.3% |
| Interest coverage | 7.05x | 4.49x | 2.92x | 3.55x | 3.47x | 2.39x |
| R&D as a share of sales | 1.1% | 0.9% | 0.8% | 0.8% | 1.0% | 0.7% |
| Buybacks as a share of market value | -0.1% | 0.4% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.7% | 13.9% | — |
| Operating income | 66.5% | 23.0% | — |
| Net income | 80.6% | 113.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.0% | 8.4% | 8.2% | — |
| Net margin | 6.7% | 4.9% | 4.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 28.5 | 22.6 | 19.0 | 29.0 | 24.1 |
| Price to sales | 2.5 | 1.0 | 0.6 | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 8 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.397 | 0.166 | 0.106 | 0.04 | 0.045 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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