S 
49.40
-3.42%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€1.52bn
FY2016FY2025
Net income
−€181.1m
FY2016FY2025
Free cash flow
€126.2m
FY2016FY2025
Shareholders' equity
€365.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €1.52bn | €1.53bn | €1.90bn | €1.07bn | €983.7m | €1.03bn | €915.1m | €760.9m | €891.0m | €946.7m |
| Gross profit | €114.9m | €252.8m | €559.3m | €224.3m | €175.5m | €166.8m | €165.8m | €72.1m | €199.6m | €242.7m |
| Research and development | €90.7m | €96.6m | €78.6m | €51.6m | €50.2m | €56.0m | €52.2m | €68.3m | €64.6m | €58.2m |
| Operating income | −€199.3m | −€93.1m | €269.5m | €31.9m | −€33.3m | €27.9m | −€11.8m | −€164.8m | €44.1m | €64.8m |
| Net income | −€181.1m | −€117.7m | €225.7m | €55.8m | −€23.0m | €28.1m | −€8.6m | −€175.5m | €30.1m | €29.6m |
| Diluted earnings per share | -5.22 | -3.39 | 6.50 | 1.61 | -0.66 | 0.81 | -0.25 | -5.06 | 0.87 | 0.85 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €1.31bn | €1.54bn | €1.62bn | €1.11bn | €1.05bn | €1.05bn | €1.11bn | €989.3m | €1.22bn | €1.21bn |
| Cash and short-term investments | €201.4m | €209.0m | €267.0m | €206.6m | €237.5m | €238.3m | €296.1m | €324.7m | €473.5m | €384.8m |
| Total liabilities | €940.4m | €987.9m | €935.7m | €646.5m | €642.1m | €612.0m | €690.4m | €564.8m | €604.7m | €625.7m |
| Debt | €156.9m | €195.1m | €25.4m | €23.7m | €39.0m | €40.5m | €34.2m | €18.0m | €20.8m | €40.3m |
| Shareholders' equity | €365.5m | €553.3m | €686.2m | €463.5m | €410.4m | €439.1m | €416.9m | €424.5m | €611.5m | €585.1m |
| Shares outstanding | 35m | 35m | 35m | 35m | 35m | 35m | 35m | 35m | 35m | 35m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €143.0m | −€112.8m | €140.8m | €28.7m | €94.3m | −€31.4m | −€1.2m | −€54.3m | €116.8m | €144.6m |
| Capital spending | −€16.8m | −€90.0m | −€84.4m | −€61.8m | −€47.5m | −€38.8m | −€27.6m | −€40.3m | −€33.2m | −€29.0m |
| Free cash flow | €126.2m | −€202.8m | €56.4m | −€33.2m | €46.7m | −€70.2m | −€28.8m | −€94.6m | €83.6m | €115.6m |
| Dividends paid | — | −€17.4m | — | — | −€10.4m | −€10.4m | −€10.4m | −€12.1m | −€9.0m | −€4.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €345.7m | €340.9m | €381.3m | €449.9m | €357.1m | €327.7m | €470.3m | €300.4m |
| Gross profit | €119.8m | €86.5m | €28.7m | −€38.4m | €45.4m | €79.3m | −€8.0m | €63.2m |
| Operating income | €43.4m | €15.0m | −€68.3m | −€112.0m | −€30.4m | €11.6m | −€139.1m | −€10.2m |
| Net income | €74.4m | −€1.6m | −€36.6m | −€102.1m | −€47.9m | €5.5m | −€152.5m | −€9.4m |
| Diluted earnings per share | 2.14 | -0.05 | -1.05 | -2.94 | -1.38 | 0.16 | -4.39 | -0.27 |
| Cash from operations | €104.0m | −€22.0m | −€6.0m | €59.0m | −€20.0m | €109.0m | €53.0m | €6.0m |
| Capital spending | −€2.0m | −€3.0m | −€3.0m | −€6.0m | −€10.0m | −€13.0m | −€17.0m | −€24.0m |
| Free cash flow | €102.0m | −€25.0m | −€9.0m | €53.0m | −€30.0m | €96.0m | €36.0m | −€18.0m |
| Total assets | €1.39bn | €1.29bn | €1.31bn | €1.39bn | €1.51bn | €1.64bn | €1.54bn | €1.68bn |
| Cash and short-term investments | €241.7m | €129.1m | €201.4m | €252.1m | €233.4m | €294.4m | €209.0m | €177.0m |
| Debt | €13.4m | €12.7m | €140.0m | €165.1m | €168.4m | €221.2m | €196.2m | €180.0m |
| Shareholders' equity | €441.4m | €365.9m | €365.5m | €402.2m | €505.5m | €557.4m | €553.3m | €703.3m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 7.6% | 16.5% | 29.4% | 21.0% | 17.8% | 16.2% |
| Operating margin | -13.1% | -6.1% | 14.4% | 3.7% | -3.3% | 2.8% |
| Net margin | -11.9% | -7.7% | 11.9% | 5.2% | -2.3% | 2.7% |
| Return on equity | -49.5% | -21.3% | 32.9% | 12.0% | -5.6% | 6.4% |
| Return on assets | -13.9% | -7.6% | 13.9% | 5.0% | -2.2% | 2.7% |
| Free cash flow yield | 8.5% | -1.2% | 12.0% | 4.8% | 7.5% | 0.4% |
| Revenue growth | -0.9% | -19.6% | 78.6% | 8.4% | -4.2% | 12.2% |
| Earnings growth | 53.8% | -152.2% | 304.3% | -342.7% | -181.9% | -425.7% |
| Current ratio | 1.31x | 1.52x | 1.83x | 1.89x | 2.04x | 2.12x |
| Debt to equity | 0.16x | 0.28x | 0.01x | 0.02x | 0.08x | 0.07x |
| Equity ratio | 28.0% | 35.9% | 42.3% | 41.8% | 39.0% | 41.8% |
| Interest coverage | -13.13x | -8.76x | 54.55x | 6.44x | -13.07x | 17.40x |
| R&D as a share of sales | 6.0% | 6.3% | 4.1% | 4.8% | 5.1% | 5.5% |
| 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 | 12.5% | 8.1% | 4.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.1% | 19.1% | 18.6% | 19.0% |
| Operating margin | -9.6% | 0.2% | 0.0% | -0.2% |
| Net margin | -9.8% | -0.3% | -0.2% | -1.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.5 | -4.2 | 9.3 | 41.6 | -56.4 | 69.1 | -139.0 | -3.3 | 41.4 | 29.4 |
| Price to sales | 0.8 | 0.3 | 1.1 | 2.2 | 1.3 | 1.9 | 1.3 | 0.8 | 1.4 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 May 2024.
| FY2024 | FY2021 | FY2018 | FY2017 | FY2016 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.50 | 0.30 | 0.35 | 0.26 | 0.14 | 0.60 | 1.30 | 3.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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