A 
11.78
+0.26%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€4.13bn
FY2018FY2025
Net income
€111.2m
FY2018FY2025
Free cash flow
€286.0m
FY2018FY2025
Shareholders' equity
€2.69bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.13bn | €4.24bn | €4.15bn | €4.12bn | €2.83bn | €2.34bn | €2.10bn | €256.9m |
| Research and development | — | €1.7m | €1.4m | €2.0m | €1.7m | €87,000 | €86,000 | — |
| Operating income | €293.3m | €385.9m | €369.1m | €388.4m | €207.8m | €223.1m | €128.9m | €9.6m |
| Net income | €111.2m | €180.7m | €177.7m | €213.2m | €67.8m | €71.0m | €48.0m | −€21.5m |
| Diluted earnings per share | 0.47 | 0.74 | 0.72 | 0.91 | 0.29 | 0.30 | 0.21 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | €5.41bn | €5.76bn | €5.57bn | €4.98bn | €3.98bn | €2.95bn | €2.88bn | €2.63bn |
| Cash and short-term investments | €263.0m | €304.5m | €484.9m | €268.4m | €142.8m | €163.5m | €104.0m | €81.6m |
| Total liabilities | €2.69bn | €2.84bn | €2.90bn | €2.54bn | €1.73bn | €1.74bn | €1.65bn | €1.45bn |
| Debt | €1.74bn | €1.84bn | €1.78bn | €1.44bn | €1.01bn | €1.29bn | €1.21bn | €999.9m |
| Shareholders' equity | €2.69bn | €2.88bn | €2.59bn | €2.38bn | €2.23bn | €1.22bn | €1.23bn | €1.18bn |
| Shares outstanding | 236m | 244m | 246m | 234m | 234m | 234m | 234m | 234m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | €310.9m | €322.9m | €425.8m | €368.6m | €89.9m | €117.0m | €75.9m | €61.7m |
| Capital spending | −€24.9m | −€13.9m | −€15.5m | −€18.4m | −€18.3m | −€12.1m | −€12.3m | −€3.8m |
| Free cash flow | €286.0m | €309.1m | €410.3m | €350.2m | €71.6m | €104.9m | €63.6m | €57.9m |
| Dividends paid | −€54.9m | −€53.3m | −€67.8m | −€7.0m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.17bn | €1.95bn | €1.08bn | €2.09bn | €2.15bn | €1.07bn | €2.01bn | €1.01bn |
| Operating income | €176.1m | €112.7m | €95.5m | €161.6m | €214.7m | €108.2m | €153.5m | €82.3m |
| Net income | €85.2m | €27.6m | €41.8m | €85.9m | €94.8m | €47.4m | €74.2m | €37.1m |
| Diluted earnings per share | 0.35 | 0.12 | 0.18 | 0.35 | 0.39 | 0.19 | 0.30 | 0.15 |
| Cash from operations | €58.0m | €225.0m | €85.0m | €122.0m | €140.0m | €70.0m | €257.0m | €161.0m |
| Capital spending | −€4.0m | −€6.0m | −€9.0m | −€8.0m | −€5.0m | −€2.0m | −€9.0m | −€4.0m |
| Free cash flow | €54.0m | €219.0m | €76.0m | €114.0m | €135.0m | €68.0m | €248.0m | €157.0m |
| Total assets | €5.72bn | €5.41bn | €5.67bn | €5.76bn | €5.78bn | €5.78bn | €5.57bn | €5.57bn |
| Cash and short-term investments | €245.3m | €263.0m | €452.3m | €304.5m | €389.2m | €384.5m | €484.9m | €484.9m |
| Debt | €97.2m | €1.74bn | €1.95bn | €1.71bn | €1.65bn | €100.2m | €1.68bn | €125.1m |
| Shareholders' equity | €2.83bn | €2.69bn | €2.66bn | €2.88bn | €2.69bn | €2.69bn | €2.59bn | €2.59bn |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.1% | 8.5% | 8.3% | 8.9% | 6.0% | 6.2% | — |
| Net margin | 2.7% | 4.3% | 4.3% | 5.2% | 2.4% | 3.0% | — |
| Return on equity | 4.1% | 6.3% | 6.9% | 8.9% | 3.0% | 5.8% | — |
| Return on assets | 2.1% | 3.1% | 3.2% | 4.3% | 1.7% | 2.4% | — |
| Free cash flow yield | 12.2% | 11.9% | 15.4% | 14.2% | 4.0% | 4.7% | — |
| Revenue growth | -2.5% | 2.1% | 0.7% | 45.9% | 20.9% | 11.6% | — |
| Earnings growth | -38.5% | 1.7% | -16.6% | 214.6% | -4.5% | 47.9% | — |
| Current ratio | 1.95x | 1.93x | 1.70x | 1.48x | 1.54x | 1.66x | — |
| Debt to equity | 0.65x | 0.59x | 0.65x | 0.57x | 0.43x | 1.03x | — |
| Equity ratio | 49.8% | 49.9% | 46.5% | 47.9% | 55.9% | 41.2% | — |
| Interest coverage | 2.35x | 2.60x | 2.83x | 7.00x | 2.83x | 1.69x | — |
| R&D as a share of sales | — | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Buybacks as a share of market value | 3.1% | 0.8% | -5.3% | 0.1% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.1% | 12.1% | — |
| Operating income | -8.9% | 5.6% | — |
| Net income | -19.5% | 9.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.1% | 8.6% | 8.6% | — |
| Net margin | 3.5% | 4.1% | 3.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 19.9 | 25.7 | 30.7 | 29.1 | 87.1 |
| Price to sales | 0.5 | 1.1 | 1.3 | 1.5 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 29 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.226 | 0.225 | 0.219 | 0.278 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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