V 
17.74
-0.67%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.33bn
FY2016FY2025
Net income
€90.6m
FY2016FY2025
Free cash flow
€188.3m
FY2016FY2025
Shareholders' equity
€874.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.33bn | €3.46bn | €3.90bn | €3.35bn | €2.67bn | €2.54bn | €2.59bn | €2.42bn | €2.40bn | €2.29bn |
| Gross profit | €578.3m | €716.7m | €1.05bn | €763.9m | €571.4m | €507.3m | €542.3m | €442.6m | €414.2m | €383.2m |
| Research and development | €6.7m | €2.4m | €2.2m | €6.1m | €3.6m | €4.5m | €4.9m | €5.1m | €5.5m | €5.3m |
| Operating income | €312.8m | €459.2m | €761.3m | €569.5m | €397.5m | €346.5m | €372.8m | €216.8m | €153.7m | €112.0m |
| Net income | €90.6m | €235.7m | €470.0m | €342.0m | €242.6m | €202.1m | €115.6m | €41.1m | €2.2m | −€37.9m |
| Diluted earnings per share | 0.77 | 1.99 | 4.01 | 2.91 | 2.04 | 1.65 | 0.98 | 0.36 | 0.02 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €4.45bn | €4.68bn | €4.46bn | €4.49bn | €3.82bn | €3.34bn | €3.30bn | €3.35bn | €3.40bn | €3.61bn |
| Cash and short-term investments | €397.8m | €470.0m | €474.6m | €330.8m | €494.6m | €476.2m | €219.2m | €262.1m | €220.1m | €200.8m |
| Total liabilities | €3.51bn | €3.61bn | €3.50bn | €3.42bn | €3.02bn | €2.76bn | €2.88bn | €3.30bn | €3.38bn | €3.54bn |
| Debt | €2.25bn | €2.25bn | €1.84bn | €1.76bn | €1.77bn | €1.75bn | €1.80bn | €2.24bn | €2.32bn | €2.39bn |
| Shareholders' equity | €874.7m | €996.8m | €907.9m | €1.00bn | €746.4m | €538.3m | €386.2m | €23.1m | €4.3m | €40.7m |
| Shares outstanding | 117m | 118m | 117m | 118m | 119m | 122m | 118m | 115m | 115m | 115m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €460.5m | €587.6m | €857.9m | €699.2m | €641.5m | €609.6m | €426.4m | €429.3m | €425.2m | €414.5m |
| Capital spending | −€272.2m | −€324.2m | −€419.5m | −€367.0m | −€259.8m | −€250.9m | −€252.5m | −€225.0m | −€235.7m | −€239.6m |
| Free cash flow | €188.3m | €263.4m | €438.4m | €332.2m | €381.7m | €358.7m | €173.9m | €204.3m | €189.5m | €174.9m |
| Dividends paid | −€200.3m | −€251.9m | −€163.8m | −€122.7m | −€114.2m | −€13.1m | −€13.1m | −€13.1m | −€13.1m | −€86.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.70bn | €1.61bn | €1.72bn | €1.69bn | €1.76bn | €1.76bn | €2.14bn | €1.07bn |
| Gross profit | €292.2m | €279.6m | €298.7m | €292.7m | €387.2m | €371.0m | €608.7m | €321.5m |
| Operating income | €192.1m | €184.0m | €148.2m | €217.6m | €244.4m | €277.5m | €489.8m | €238.6m |
| Net income | €25.3m | €23.1m | €67.5m | €111.6m | €124.1m | €159.3m | €310.7m | €158.7m |
| Diluted earnings per share | 0.21 | 0.20 | 0.58 | 0.94 | 1.05 | 1.36 | 2.65 | 1.35 |
| Cash from operations | €220.0m | €233.0m | €227.0m | €301.0m | €249.0m | €326.0m | €479.0m | — |
| Capital spending | −€90.0m | −€128.0m | −€100.0m | −€155.0m | −€154.0m | −€191.0m | −€227.0m | — |
| Free cash flow | €130.0m | €105.0m | €127.0m | €146.0m | €95.0m | €135.0m | €252.0m | — |
| Total assets | €4.50bn | €4.45bn | €4.51bn | €4.68bn | €4.48bn | €4.46bn | €4.47bn | €4.47bn |
| Cash and short-term investments | €413.9m | €397.8m | €371.3m | €470.0m | €452.5m | €474.6m | €463.4m | €463.4m |
| Debt | €338.9m | €2.26bn | €2.31bn | €2.25bn | €2.11bn | €1.80bn | €1.87bn | €1.85bn |
| Shareholders' equity | €986.5m | €874.7m | €850.3m | €996.8m | €862.7m | €907.9m | €888.8m | €957.2m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.4% | 20.7% | 26.9% | 22.8% | 21.4% | 20.0% |
| Operating margin | 9.4% | 12.6% | 18.5% | 15.8% | 14.6% | 12.5% |
| Net margin | 2.7% | 6.8% | 12.0% | 10.2% | 9.1% | 8.0% |
| Return on equity | 10.4% | 23.6% | 51.8% | 34.1% | 32.5% | 37.5% |
| Return on assets | 2.0% | 5.0% | 10.5% | 7.6% | 6.4% | 6.1% |
| Free cash flow yield | 35.1% | 43.3% | 61.3% | 51.0% | 42.5% | 39.6% |
| Revenue growth | -3.6% | -11.5% | 16.5% | 25.3% | 5.4% | -1.9% |
| Earnings growth | -61.6% | -49.9% | 37.4% | 41.0% | 20.0% | 74.8% |
| Current ratio | 1.01x | 1.05x | 0.91x | 1.03x | 1.28x | 1.16x |
| Debt to equity | 2.54x | 2.22x | 1.99x | 1.76x | 2.37x | 3.19x |
| Equity ratio | 19.7% | 21.3% | 20.4% | 22.3% | 19.6% | 16.1% |
| Interest coverage | 2.65x | 3.92x | 7.97x | 9.94x | 7.07x | 5.72x |
| R&D as a share of sales | 0.2% | 0.1% | 0.1% | 0.2% | 0.1% | 0.2% |
| Buybacks as a share of market value | 0.9% | -1.1% | 0.4% | 1.3% | 2.6% | -3.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.2% | 5.6% | 0.8% |
| Operating income | -18.1% | -2.0% | -1.8% |
| Net income | -35.8% | -14.8% | -7.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.1% | 22.1% | 21.8% | 20.4% |
| Operating margin | 11.4% | 15.0% | 14.8% | 12.7% |
| Net margin | 4.8% | 8.1% | 8.2% | 6.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 29.8 | 12.2 | 8.7 | 10.9 | 15.2 | 17.6 | 31.0 |
| Price to sales | 0.8 | 0.8 | 1.1 | 1.1 | 1.4 | 1.4 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 4 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 1.70 | 2.15 | 1.40 | 1.05 | 0.95 | 0.85 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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