E 
18.02
-0.33%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.01bn
FY2016FY2025
Net income
€214.9m
FY2016FY2025
Free cash flow
€148.7m
FY2016FY2025
Shareholders' equity
€2.30bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.01bn | €3.14bn | €3.08bn | €2.96bn | €2.42bn | €2.89bn | €2.81bn | €2.65bn | €2.51bn | €2.46bn |
| Research and development | €954,000 | €1.6m | €1.8m | €1.6m | €1.4m | €2.5m | €2.4m | €2.2m | €1.2m | €1.1m |
| Operating income | €303.2m | €309.3m | €276.3m | €202.6m | €203.1m | €242.6m | €212.4m | €218.1m | €271.1m | €264.6m |
| Net income | €214.9m | €207.9m | €187.0m | €122.1m | €238.6m | €140.8m | €141.8m | €141.6m | €220.6m | €169.7m |
| Diluted earnings per share | 1.40 | 1.35 | 1.22 | 0.79 | 1.55 | 0.92 | 0.92 | 0.92 | 1.43 | 1.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €3.94bn | €4.01bn | €3.87bn | €3.90bn | €3.94bn | €4.04bn | €4.37bn | €3.83bn | €3.66bn | €3.65bn |
| Cash and short-term investments | €301.1m | €257.4m | €335.3m | €186.8m | €541.4m | €212.5m | €253.0m | €172.4m | €270.5m | €292.9m |
| Total liabilities | €1.60bn | €1.65bn | €1.65bn | €1.70bn | €1.81bn | €2.08bn | €2.08bn | €1.64bn | €1.54bn | €1.54bn |
| Debt | €485.2m | €510.4m | €633.6m | €734.1m | €847.1m | €968.0m | €1.08bn | €707.6m | €675.4m | €646.6m |
| Shareholders' equity | €2.30bn | €2.33bn | €2.19bn | €2.16bn | €2.10bn | €1.93bn | €2.26bn | €2.16bn | €2.07bn | €2.08bn |
| Shares outstanding | 154m | 154m | 154m | 154m | 154m | 154m | 154m | 154m | 154m | 154m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €283.6m | €288.5m | €478.5m | €223.1m | €17.5m | €369.9m | €250.5m | €141.6m | €220.6m | €169.7m |
| Capital spending | −€134.9m | −€148.6m | −€141.7m | −€118.8m | −€120.0m | −€117.6m | −€148.7m | −€138.9m | −€120.7m | −€107.7m |
| Free cash flow | €148.7m | €139.8m | €336.8m | €104.3m | −€102.6m | €252.3m | €101.8m | €2.7m | €99.9m | €62.0m |
| Dividends paid | −€106.2m | −€124.1m | −€97.3m | −€96.5m | −€185.7m | −€397.4m | −€98.6m | −€95.6m | −€93.8m | −€85.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.48bn | €1.48bn | €1.48bn | €792.0m | €1.56bn | €766.4m | €1.55bn | €806.6m |
| Operating income | €141.8m | €151.5m | €144.9m | €84.0m | €154.4m | €84.9m | €146.5m | €81.7m |
| Net income | €103.9m | €117.9m | €93.4m | €50.3m | €99.0m | €60.3m | €110.3m | €53.7m |
| Diluted earnings per share | 0.68 | 0.77 | 0.61 | 0.33 | 0.64 | 0.39 | 0.72 | 0.35 |
| Cash from operations | €199.0m | €167.0m | €232.0m | — | €96.0m | — | €191.0m | — |
| Capital spending | −€61.0m | −€68.0m | −€132.0m | — | −€80.0m | — | −€68.0m | — |
| Free cash flow | €138.0m | €99.0m | €100.0m | — | €16.0m | — | €123.0m | — |
| Total assets | €3.95bn | €3.94bn | €3.90bn | — | €4.01bn | — | €4.00bn | — |
| Cash and short-term investments | €304.6m | €301.1m | €269.7m | €257.4m | €257.4m | €383.5m | €383.5m | — |
| Debt | €541.3m | €485.2m | €514.1m | — | €462.7m | — | €589.2m | — |
| Shareholders' equity | €2.36bn | €2.30bn | €2.17bn | €2.37bn | €2.33bn | €2.27bn | €2.23bn | — |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 11.1% | 10.0% | 9.4% | 6.5% | 8.3% | 6.8% |
| Net margin | 7.1% | 6.6% | 6.1% | 4.1% | 9.8% | 7.9% |
| Return on equity | 9.3% | 8.9% | 8.6% | 5.6% | 11.4% | 10.0% |
| Return on assets | 5.4% | 5.2% | 4.8% | 3.1% | 6.1% | 4.8% |
| Free cash flow yield | 14.7% | 15.3% | 21.8% | 12.0% | 4.8% | 17.1% |
| Revenue growth | -4.0% | 1.8% | 4.1% | 22.3% | -0.3% | -13.6% |
| Earnings growth | 3.4% | 11.2% | 53.2% | -48.8% | 24.0% | 35.7% |
| Current ratio | 1.66x | 1.46x | 1.36x | 1.92x | 1.88x | 1.13x |
| Debt to equity | 0.21x | 0.20x | 0.27x | 0.32x | 0.38x | 0.47x |
| Equity ratio | 58.5% | 58.1% | 56.4% | 55.5% | 53.4% | 47.8% |
| Interest coverage | 4.64x | 4.89x | 18.02x | 22.02x | 31.61x | 14.28x |
| R&D as a share of sales | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.6% | 0.8% | 2.0% |
| Operating income | 14.4% | 4.6% | 2.3% |
| Net income | 20.7% | 8.8% | 4.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.0% | 8.9% | 8.8% | 9.0% |
| Net margin | 6.9% | 6.0% | 6.3% | 6.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.2 | 11.8 | 12.8 | 18.5 | 10.9 | 20.7 | 20.9 | 18.9 | 13.6 | 18.1 |
| Price to sales | 0.9 | 0.8 | 0.8 | 0.8 | 1.1 | 1.0 | 1.1 | 1.0 | 1.2 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 29 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.46 | 0.23 | 0.94 | 0.66 | 0.57 | 1.14 | 2.51 | 0.57 |
- 100-for-99 split · 4 Dec 2012
- 1-to-1 reverse split · 12 May 2009
- 5-for-4 split · 2 Jan 2003
- 6-for-5 split · 28 Sept 2001
- 1-to-1 reverse split · 12 Feb 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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