S 
129.40
-0.61%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€5.12bn
FY2016FY2025
Net income
€84.4m
FY2016FY2025
Free cash flow
€5.5m
FY2016FY2025
Shareholders' equity
€1.31bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €5.12bn | €4.80bn | €4.44bn | €4.16bn | €3.51bn | €3.15bn | €3.44bn | €3.26bn | €2.98bn | €2.82bn |
| Gross profit | €854.4m | €329.4m | €341.2m | €690.5m | €600.2m | €525.0m | €390.6m | €315.7m | €293.2m | €279.8m |
| Operating income | €147.5m | €228.4m | €253.1m | €243.5m | €178.4m | €123.7m | €160.1m | €133.9m | €132.8m | €113.1m |
| Net income | €84.4m | €157.2m | €191.6m | €146.4m | €110.0m | €72.8m | €100.3m | €94.4m | €93.6m | €87.1m |
| Diluted earnings per share | 6.66 | 12.44 | 15.18 | 11.78 | 8.88 | 5.86 | 8.09 | 7.65 | 7.59 | 7.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €4.24bn | €3.93bn | €3.51bn | €3.35bn | €2.98bn | €2.64bn | €2.55bn | €2.30bn | €2.04bn | €1.92bn |
| Cash and short-term investments | €116.4m | €85.1m | €143.6m | €87.6m | €92.2m | €54.4m | €61.2m | €59.6m | €59.4m | €51.5m |
| Total liabilities | €2.92bn | €2.65bn | €2.32bn | €2.31bn | €2.07bn | €1.82bn | €1.78bn | €1.61bn | €1.41bn | €1.36bn |
| Debt | €1.65bn | €1.43bn | €1.19bn | €1.16bn | €1.04bn | €957.0m | €877.3m | €723.6m | €578.0m | €557.1m |
| Shareholders' equity | €1.31bn | €1.28bn | €1.18bn | €1.04bn | €912.2m | €816.9m | €759.3m | €693.1m | €625.8m | €557.0m |
| Shares outstanding | 13m | 13m | 13m | 12m | 12m | 12m | 12m | 12m | 12m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €309.4m | €397.3m | €356.6m | €263.5m | €368.2m | €221.5m | €265.1m | €234.6m | €183.5m | €180.4m |
| Capital spending | −€303.9m | −€355.3m | −€335.8m | −€229.5m | −€165.1m | −€208.1m | −€154.4m | −€295.7m | −€169.4m | −€146.0m |
| Free cash flow | €5.5m | €42.0m | €20.8m | €34.0m | €203.1m | €13.3m | €110.7m | −€61.1m | €14.2m | €34.5m |
| Dividends paid | −€52.5m | −€63.9m | −€49.7m | −€37.3m | −€31.0m | −€18.6m | −€30.9m | −€30.2m | −€27.6m | −€23.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.69bn | €2.65bn | €2.47bn | €2.48bn | €2.33bn | €2.26bn | €2.18bn | €2.25bn |
| Gross profit | €443.9m | €604.4m | €250.0m | €435.2m | €359.9m | €380.5m | €335.9m | €374.5m |
| Operating income | €98.1m | €91.6m | €55.9m | €114.3m | €99.8m | €139.9m | €107.5m | €109.0m |
| Net income | €55.9m | €68.6m | €15.8m | €80.8m | €68.0m | €95.5m | €79.1m | €80.4m |
| Diluted earnings per share | 4.40 | 5.41 | 1.25 | 6.39 | 5.38 | 7.57 | 6.27 | 6.47 |
| Cash from operations | €170.0m | €189.0m | €120.0m | €273.0m | €126.0m | €189.0m | €170.0m | €151.0m |
| Capital spending | −€130.0m | −€161.0m | −€142.0m | −€166.0m | −€186.0m | −€159.0m | −€176.0m | −€122.0m |
| Free cash flow | €40.0m | €28.0m | −€22.0m | €107.0m | −€60.0m | €30.0m | −€6.0m | €29.0m |
| Total assets | €4.37bn | €4.24bn | €4.09bn | €3.93bn | €3.80bn | €3.51bn | €3.30bn | €3.35bn |
| Cash and short-term investments | €131.4m | €116.4m | €117.0m | €85.1m | €141.7m | €143.6m | €129.6m | €87.6m |
| Debt | €687.4m | €1.65bn | €1.57bn | €1.43bn | €1.44bn | €1.02bn | €1.13bn | €1.16bn |
| Shareholders' equity | €1.34bn | €1.31bn | €1.24bn | €1.28bn | €1.19bn | €1.18bn | €1.09bn | €1.04bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2011 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 16.7% | 6.9% | 7.7% | 16.6% | 17.1% | 16.7% | — |
| Operating margin | 2.9% | 4.8% | 5.8% | 5.6% | 4.4% | 3.7% | — |
| Net margin | 1.6% | 3.3% | 4.3% | 3.5% | 3.1% | 2.3% | — |
| Return on equity | 6.4% | 12.3% | 16.2% | 14.1% | 12.1% | 8.9% | — |
| Return on assets | 2.0% | 4.0% | 5.5% | 4.4% | 3.7% | 2.8% | — |
| Free cash flow yield | 37.9% | 46.6% | 42.9% | 31.0% | 33.7% | 27.1% | — |
| Revenue growth | 6.6% | 8.1% | 6.8% | 18.6% | 11.5% | -8.6% | — |
| Earnings growth | -46.3% | -17.9% | 30.9% | 33.0% | 51.2% | -27.5% | — |
| Current ratio | 0.72x | 0.66x | 0.71x | 0.74x | 0.66x | 0.65x | — |
| Debt to equity | 1.07x | 0.92x | 0.86x | 0.94x | 0.93x | 0.97x | — |
| Equity ratio | 31.0% | 32.5% | 33.8% | 31.1% | 30.6% | 30.9% | — |
| Interest coverage | 3.66x | 5.56x | 9.23x | 25.78x | 20.88x | 13.80x | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% |
| Buybacks as a share of market value | -0.3% | -0.1% | -1.6% | -0.3% | 0.2% | -0.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.2% | 10.2% | 6.1% |
| Operating income | -15.4% | 3.6% | 3.3% |
| Net income | -16.8% | 3.0% | 1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.9% | 12.0% | 13.3% | 12.1% |
| Operating margin | 3.8% | 4.7% | 4.7% | 4.5% |
| Net margin | 2.4% | 3.1% | 3.0% | 3.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.6 | 10.6 | 7.5 | 7.7 | 11.5 | 12.4 | 9.9 | 10.1 | 12.4 | 11.3 |
| Price to sales | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 27 years. Last went ex-dividend on 27 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.70 | 4.15 | 5.10 | 4.00 | 3.00 | 2.50 | 1.50 | 2.50 |
- 4-for-1 split · 29 Dec 2005
- 1-to-1 reverse split · 2 Jan 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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