Financial Figures

All important financial key figures compact and at a glance:

Key Figures

in € million Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011 Dec. 31, 2010
Revenues 218.5 185.9 175.1 164.0 149.7
EBITDA 56.8 46.3 40.9 39.3 37.1
as % of revenue 26.0% 24.9% 23.4% 23.9% 24.8%
EBIT 46.5 35.7 29.9 29.1 27.5
as % of revenue 21.3% 19.2% 17.1% 17.7% 18.4%
Net income (group shares) 31.5 24.0 19.5 20.8 18.9
per share in € 3.27 2.49 2.03 2.16 1.97
Net income (group shares) before depreciation of PPA* 35.3 29.7 25.3 27.1 24.6
per share in € 3.67 3.08 2.62 2.81 2.56
Cash flow from operating activities 44.2 40.2 36.5 37.1 32.3
Free cash flow -35.6 18.7 29.8 31.5 28.5
Net dept / net liquidity -3.0 48.6 44.3 28.8 11.1
Balance sheet total 291.7 178.5 159.9 162.4 165.3
Equity ratio 46.8% 66.2% 66.8% 63.9% 57.0%
Headcounts as of balance sheet date 1,561 1,356 1,229 1,173 1,076
Closing price (Xetra) in € 83.61 50.32 33.20 25.80 31.87
Dividend per share in € 1.60** 1.30 1.15 1.15 1.00

* Purchase Price Allocation
** Proposal to the Annual General Meeting on May 20, 2015

Income Statement

for the period from January 1 to Dezember 31, 2014 and 2013

Thousands of € 2014 2013
Revenues 218,451 185,940
Own work capitalized 9 1,673
Other operating income 4,991 2,230
Operating income 223,451 189,843
Cost of materials / cost of purchased services -8,620 -8,678
Personnel expenses -94,537 -78,666
Depreciation of property, plant and equipment and amortization of intangible assets -10,288 -10,594
- thereof amortization of intangible assets due to purchase price allocation -4,765 -6,326
Other operating expenses -63,501 -56,235
Operating expenses -176,946 -154,173
Operating results (EBIT) 46,505 35,670
Interest income 152 487
Interest expenses -224 -54
Share of results of associated companies -42 88
Other financial income 169 0
Earnings before taxes 46,560 36,191
Income taxes -13,102 -10,919
Net profit or loss of the period 33,458 25,272
Other comprehensive income:
Difference from currency translation 59 -1,802
Subtotal of items of other comprehensive income that will be reclassified to income in future periods: 59 -1,802
Gains / losses on revaluation of defined benefit pension plans -318 -66
Tax effect 89 19
Subtotal of items of other comprehensive income that will not be reclassified to income in future periods: -229 -47
Subtotal other comprehensive income for the year -170 -1,849
Total comprehensive income for the year 33,288 23,424
Net profit or loss for the period attributable to:
Equity holders of the parent 31,486 24,011
Non-controlling interests 1,972 1,261
Net income for the year 33,458 25,272
Total comprehensive income for the year attributable to:
Equity holders of the parent 31,486 22,202
Non-controlling interests 1,803 1,222
Total comprehensive income for the year 33,288 23,424
Earnings per share (undiluted) in euros 3.27 2.49
Earnings per share (diluted) in euros 3.27 2.49
Average number of shares outstanding (undiluted, units) 9,625,000 9,625,000
Average number of shares outstanding (diluted, units) 9,625,000 9,625,000

Balance Sheet

as of December 31, 2014 and as of December 31, 2013

Assets

Thousands of € December 31,2014 December 31, 2013
Current assets
Cash and cash equivalents 56,968 48,553
Trade receivables, net 28,869 21,889
Inventories 725 728
Tax refunded claims for income taxes 2,509 694
Other current financial assets 10 27
Other current assets 9,301 7,713
Current assets, total 98,382 79,604
Non-current assets
Property, plant and equipment 10,800 5,332
Intangible assets 68,770 30,948
Goodwill 111,285 60,112
Investments in associates and non-current available-for-sale assets 892 164
Deferred tax assets 727 1,492
Non-current financial assets 59 79
Other non-current assets 772 772
Non-current assets, total 193,305 98,899
Total assets 291,687 178,503

Equities and Liabilities

 

Thousands of € December 31, 2014 December 31, 2013
Current liabilities
Short-term borrowings and current portion of long-term loans 12,000 0
Trade payables 5,784 5,248
Provisions and accrued liabilities 21,107 14,823
Deferred revenue 32,386 23,464
Income tax liabilities 4,712 3,327
Other current financial obligations 1,633 1,135
Other current liabilities 6,640 5,962
Current liabilities, total 84,262 53,959
Long-term borrowings without current portion 48,000 0
Deferred tax liabilities 15,438 4,078
Pensions and related obligations 1,667 1,203
Non-current financial obligations 1,336 1,098
Other non-current liabilities 4,408 0
Non-current liabilities, total 70,849 6,379
Equity
Subscribed capital 9,625 9,625
Capital reserve 41,360 41,360
Retained earnings 96,621 78,367
Other comprehensive income -12,625 -12,785
Equity (group shares) 134,981 116,567
Non-controlling interests 1,595 1,598
Equity, total 136,576 118,165
Total equity and liabilities 291,687 178,503

Cash Flow

for the period from January 1 to December 31, 2014 and 2013

Thousands of € 2014 2013
Profit (before tax) 46,560 36,191
Depreciation and amortization of fixed assets 10,288 10,594
Change in pension provision 146 51
Other non-cash transactions -381 307
Portion of the result of non-controlling interests 42 -88
Losses from disposal of fixed assets 371 180
Cash flow for the period 57,026 47,235
Interest income -152 -487
Interest expenses 224 54
Change in other provisions 3,135 772
Change in trade receivables -4,291 2
Change in other assets 5,227 1,546
Change in trade payables 217 207
Change in other liabilities -6,525 -2,593
Interest received 127 108
Income taxes received 1,026 1,226
Income taxes paid -11,836 -7,829
Cash flow from operating activities 44,178 40,241
Capital expenditure -3,548 -5,373
Cash received from disposal of non-controlling interests 0 6
Cash received from disposal of fixed assets 185 32
Cash paid for acquisition of a subsidiary, net of cash acquired -75,984 -16,229
Cash paid for non-controlling interests -468 0
Cash flow from investing activities -79,815 -21,564
Dividend payments -12,513 -11,069
Minority interests paid -2,374 -911
Cash received from bank loans 60,000 0
Interest paid -1,131 -1,541
Repayments of borrowings -830 0
Cash flow from financing activities 43,152 -13,521
Changes in cash and cash equivalents 7,515 5,156
Effect of exchange rate differences on cash and cash equivalents 900 -886
Cash and cash equivalents at the beginning of the period 48,553 44,283
Cash and cash equivalents at the end of the period 56,968 48,553