N 
14.15
-0.56%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€1.37bn
FY2016FY2025
Net income
−€15.0m
FY2016FY2025
Free cash flow
−€13.3m
FY2016FY2025
Shareholders' equity
€1.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €1.37bn | €1.29bn | €1.17bn | €1.78bn | €1.71bn | €1.31bn | €1.60bn | €1.60bn | €1.57bn | €1.39bn |
| Gross profit | €281.3m | €233.8m | €241.1m | €286.7m | €551.8m | €400.4m | €683.0m | €730.0m | €733.7m | €667.1m |
| Research and development | — | €24.8m | €24.3m | €29.6m | €31.9m | €22.7m | €22.7m | €20.8m | €21.8m | €20.3m |
| Operating income | €35.8m | €1.8m | €32.1m | −€134.4m | €268.2m | €120.0m | €316.5m | €372.4m | €365.4m | €310.5m |
| Net income | −€15.0m | −€22.8m | −€325.5m | −€175.5m | €206.2m | €86.0m | €399.9m | €295.2m | €221.4m | €251.8m |
| Diluted earnings per share | -0.11 | -0.17 | -2.36 | -1.27 | 1.49 | 0.62 | 2.90 | 2.17 | 1.63 | 1.87 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €2.31bn | €2.42bn | €2.33bn | €2.21bn | €2.38bn | €2.34bn | €2.33bn | €2.09bn | €1.88bn | €1.98bn |
| Cash and short-term investments | €146.9m | €176.1m | €414.9m | €259.0m | €385.9m | €504.2m | €218.8m | €447.5m | €343.4m | €513.2m |
| Total liabilities | €1.15bn | €1.15bn | €977.6m | €776.6m | €755.9m | €815.4m | €562.9m | €606.8m | €409.0m | €517.3m |
| Debt | €810.9m | €789.2m | €638.5m | €399.9m | €287.2m | €487.0m | €260.0m | €132.3m | €135.2m | €225.8m |
| Shareholders' equity | €1.16bn | €1.27bn | €1.35bn | €1.43bn | €1.63bn | €1.52bn | €1.77bn | €1.49bn | €1.47bn | €1.46bn |
| Shares outstanding | 137m | 138m | 138m | 138m | 138m | 139m | 138m | 136m | 136m | 135m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €146.2m | €77.4m | €82.4m | −€4.3m | €396.5m | €422.4m | €219.8m | €536.9m | €234.1m | €364.4m |
| Capital spending | −€159.5m | −€350.1m | −€252.2m | −€125.2m | −€119.6m | −€149.9m | −€290.1m | −€226.5m | −€134.9m | −€101.5m |
| Free cash flow | −€13.3m | −€272.7m | −€169.8m | −€129.5m | €276.9m | €272.5m | −€70.3m | €310.4m | €99.2m | €262.9m |
| Dividends paid | −€38.3m | −€72.0m | −€72.1m | −€89.7m | −€158.7m | −€151.6m | −€218.1m | −€214.2m | −€208.0m | −€202.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €379.9m | €279.6m | €416.4m | €344.1m | €343.7m | €269.5m | €415.0m | €313.6m |
| Gross profit | €99.0m | €53.4m | €108.1m | €74.4m | €75.2m | €23.8m | €84.0m | €56.6m |
| Operating income | €34.7m | −€17.8m | €35.1m | €22.5m | €12.2m | −€35.9m | €15.5m | €4.1m |
| Net income | €19.5m | −€22.2m | €16.4m | €5.7m | €600,000 | −€37.8m | €6.0m | −€4.2m |
| Diluted earnings per share | 0.14 | -0.16 | 0.12 | 0.04 | 0.00 | -0.28 | 0.04 | -0.03 |
| Cash from operations | −€2.0m | −€71.0m | €332.0m | −€80.0m | €16.0m | −€121.0m | €314.0m | −€92.0m |
| Capital spending | −€17.0m | −€7.0m | −€37.0m | −€32.0m | −€37.0m | −€52.0m | −€90.0m | −€101.0m |
| Free cash flow | −€19.0m | −€78.0m | €295.0m | −€112.0m | −€21.0m | −€173.0m | €224.0m | −€193.0m |
| Total assets | €2.38bn | €2.36bn | €2.31bn | €2.57bn | €2.44bn | €2.40bn | €2.42bn | €2.52bn |
| Cash and short-term investments | €87.8m | €136.5m | €146.9m | €88.7m | €124.9m | €84.8m | €176.1m | €160.4m |
| Debt | €868.8m | €181.5m | €810.9m | €1.08bn | €988.7m | €886.9m | €789.2m | €961.7m |
| Shareholders' equity | €1.13bn | €1.12bn | €1.16bn | €1.15bn | €1.14bn | €1.22bn | €1.27bn | €1.25bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 20.5% | 18.1% | 20.5% | 16.1% | 32.2% | 30.5% | — |
| Operating margin | 2.6% | 0.5% | 2.9% | 0.8% | 15.6% | 8.8% | — |
| Net margin | -1.1% | -1.8% | -27.7% | -9.9% | 12.0% | 6.5% | — |
| Return on equity | -1.3% | -1.8% | -24.2% | -12.2% | 12.7% | 5.7% | — |
| Return on assets | -0.6% | -0.9% | -14.0% | -7.9% | 8.7% | 3.7% | — |
| Free cash flow yield | 16.8% | 23.3% | 18.2% | 6.6% | 28.1% | 31.0% | — |
| Revenue growth | 6.5% | 9.9% | -33.9% | 3.6% | 30.5% | -17.7% | — |
| Earnings growth | -34.2% | -93.0% | 85.5% | -185.1% | 139.8% | -78.5% | — |
| Current ratio | 2.08x | 2.39x | 2.57x | 2.14x | 2.64x | 2.34x | — |
| Debt to equity | 0.63x | 0.55x | 0.41x | 0.21x | 0.10x | 0.24x | — |
| Equity ratio | 50.3% | 52.5% | 58.0% | 64.9% | 68.3% | 65.1% | — |
| Interest coverage | 0.86x | 0.18x | 1.35x | 1.30x | 29.69x | 11.39x | — |
| R&D as a share of sales | — | 1.9% | 2.1% | 1.7% | 1.9% | 1.7% | 1.4% |
| Buybacks as a share of market value | 0.9% | 0.1% | 0.2% | -0.0% | 0.2% | -0.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.2% | 0.9% | 0.1% |
| Operating income | — | -21.5% | -19.0% |
| Net income | -56.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.3% | 18.6% | 23.1% | 33.6% |
| Operating margin | 1.4% | -1.2% | 3.7% | 12.3% |
| Net margin | -1.4% | -9.6% | -2.9% | 7.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -86.2 | -44.4 | -3.5 | -7.5 | 22.3 | 46.4 | 8.8 | 12.3 | 23.2 | 18.9 |
| Price to sales | 0.9 | 0.8 | 1.0 | 0.8 | 2.7 | 3.0 | 2.2 | 2.3 | 3.3 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 30 years. Last went ex-dividend on 26 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.25 | 0.25 | 0.77 | 0.55 | 0.55 | 1.20 | 1.14 | 1.58 |
- 10-for-1 split · 18 Apr 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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