B
30.40
+0.80%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€1.42bn
FY2016FY2025
Net income
€14.5m
FY2016FY2025
Free cash flow
€333.1m
FY2016FY2025
Shareholders' equity
€350.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €1.42bn | €1.22bn | €1.05bn | €794.6m | €340.7m | €376.8m | €515.2m | €401.8m | €325.8m | €258.6m |
| Operating income | €146.3m | €123.2m | €85.1m | €55.5m | −€236.3m | −€118.4m | €53.9m | €31.7m | €21.3m | €4.0m |
| Net income | €14.5m | €8.0m | −€2.7m | −€3.7m | −€150.0m | −€125.2m | €11.0m | €17.6m | €11.1m | −€32.4m |
| Diluted earnings per share | 0.22 | 0.10 | -0.04 | -0.06 | -2.27 | -2.09 | 0.20 | 0.32 | 0.20 | -0.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €3.91bn | €3.54bn | €3.23bn | €2.85bn | €2.55bn | €2.28bn | €1.99bn | €832.3m | €743.0m | €652.6m |
| Cash and short-term investments | €115.0m | €56.1m | €70.7m | €45.6m | €69.9m | €70.4m | €66.5m | €5.6m | €13.0m | €17.4m |
| Total liabilities | €3.56bn | €3.13bn | €2.83bn | €2.45bn | €2.14bn | €1.97bn | €1.69bn | €505.2m | €425.7m | €347.5m |
| Debt | €1.53bn | €2.82bn | €2.53bn | €2.22bn | €1.92bn | €1.80bn | €1.52bn | €1.12bn | €294.6m | €223.1m |
| Shareholders' equity | €350.1m | €411.5m | €355.3m | €405.4m | €410.6m | €310.7m | €306.5m | €327.1m | €317.3m | €305.1m |
| Shares outstanding | 65m | 78m | 66m | 66m | 66m | 60m | 55m | 55m | 55m | 55m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €604.6m | €581.8m | €490.5m | €372.6m | €74.5m | €100.9m | €229.9m | €117.9m | €96.0m | €33.2m |
| Capital spending | −€271.5m | −€334.9m | −€332.6m | −€279.2m | −€172.1m | −€217.6m | −€230.2m | −€166.2m | −€166.4m | −€111.6m |
| Free cash flow | €333.1m | €246.9m | €157.9m | €93.5m | −€97.6m | −€116.7m | −€250,000 | −€48.3m | −€70.4m | −€78.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €800.3m | €743.2m | €338.6m | €630.4m | €584.8m | €546.8m | €273.4m | €500.4m |
| Operating income | €96.9m | €89.9m | €28.8m | €68.5m | €55.1m | €53.7m | €26.9m | €31.4m |
| Net income | €23.1m | €22.4m | −€4.0m | €3.8m | €4.2m | €3.4m | €1.7m | −€6.1m |
| Diluted earnings per share | 0.36 | 0.35 | -0.06 | 0.05 | 0.05 | 0.05 | 0.03 | -0.09 |
| Cash from operations | €306.0m | €335.0m | €269.0m | €289.0m | €264.0m | €254.0m | €135.0m | €204.0m |
| Capital spending | −€112.0m | −€97.0m | −€86.0m | −€137.0m | −€190.0m | −€180.0m | −€87.0m | −€152.0m |
| Free cash flow | €194.0m | €238.0m | €183.0m | €152.0m | €74.0m | €74.0m | €48.0m | €52.0m |
| Total assets | €3.83bn | €3.91bn | €3.54bn | €3.54bn | €3.32bn | €3.23bn | €3.23bn | €3.02bn |
| Cash and short-term investments | €144.7m | €115.0m | €36.7m | €56.1m | €35.0m | €70.9m | €72.7m | €44.3m |
| Debt | €303.0m | €1.53bn | €1.34bn | €1.27bn | €1.23bn | €1.13bn | €18.0m | €1.03bn |
| Shareholders' equity | €390.4m | €350.1m | €392.0m | €411.5m | €408.3m | €355.3m | €404.0m | €399.6m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 10.3% | 10.1% | 8.0% | 7.5% | -41.9% | -31.4% |
| Net margin | 1.0% | 0.7% | -0.3% | -0.5% | -44.0% | -33.2% |
| Return on equity | 4.1% | 1.9% | -0.8% | -0.9% | -36.5% | -40.3% |
| Return on assets | 0.4% | 0.2% | -0.1% | -0.1% | -5.9% | -5.5% |
| Free cash flow yield | 45.7% | 39.8% | 42.1% | 33.4% | 12.9% | 17.9% |
| Revenue growth | 16.9% | 16.0% | 31.8% | 133.2% | -9.6% | -26.9% |
| Earnings growth | 81.3% | -398.6% | -27.3% | -97.5% | 19.9% | -1233.1% |
| Current ratio | 0.25x | 0.32x | 0.32x | 0.32x | 0.34x | 0.31x |
| Debt to equity | 4.37x | 3.08x | 3.18x | 2.35x | 1.99x | 2.53x |
| Equity ratio | 9.0% | 11.6% | 11.0% | 14.2% | 16.1% | 13.6% |
| Interest coverage | 1.10x | 1.11x | 0.97x | 0.95x | -2.44x | -2.58x |
| Buybacks as a share of market value | 16.8% | -18.0% | 0.0% | 0.0% | -10.0% | -9.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.4% | 30.4% | 21.5% |
| Operating income | 38.1% | — | 34.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.2% | 9.2% | 1.1% | 2.5% |
| Net margin | 0.9% | 0.4% | -5.0% | -4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 132.1 | 219.8 | -693.8 | -438.2 | -18.5 | -14.4 | 167.5 | 80.6 | 98.8 | -27.1 |
| Price to sales | 1.4 | 1.4 | 1.8 | 2.0 | 8.1 | 4.8 | 3.6 | 3.5 | 3.4 | 3.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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