Financial Figures

All important financial key figures compact and at a glance:

Key Figures

in EUR million Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2012
Revenues 337.3 285.3 218.5 185.9 175.1
EBITDA 88.0 69.5 56.8 46.3 40.9
as % of revenue 26.1% 24.4% 26.0% 24.9% 23.4%
EBIT 69.7 52.7 46.5 35.7 29.9
as % of revenue 20.7% 18.5% 21.3% 19.2% 17.1%
Net income (group shares) 46.9 35.9 31.5 24.0 19.5
per share in € 1.22 0.93 0.82 0.62 0.51
Net income (group shares) before purchase price allocation 55.1 42.8 35.3 29.7 25.3
per share in € 1.43 1.11 0.92 0.77 0.66
Cash flow from operating activities 79.7 65.1 44.2 40.2 36.5
Free cash flow 32.1 23.7 -35.2 18.7 29.8
Net liquidity/net dept 16.3 3.3 -3.0 48.6 44.3
Balance sheet total 454.7 370.8* 291.7 178.5 159.9
Equity ratio 44.4% 45.0% 46.8% 66.2% 66.8%
Headcounts as of balance sheet date 1,925 1,754 1,559 1,356 1,229
Closing price (Xetra) in € 55.26 46.03 20.90 12.58 8.30

* Previous year values adjusted to final purchase price allocation of Solibri Group

Income Statement

for the period from January 1 to Dezember 31, 2016 and 2015

Thousands of € 2016 2015 [Notes]
Revenues 337,286 285,269 [1]
Own work capitalized 7 38  
Other operating income 6,957 5,884 [2]
Operating income 344,250 291,191  
Cost of materials/cost of purchased services -10,946 -9,749 [3]
Personnel expenses -151,188 -127,084 [4]
Depreciation of property, plant and equipment and amortization of intangible assets -18,314 -16,781 [5]
- thereof amortization of intangible assets due to purchase price allocation -11,056 -10,131 [5]
Other operating expenses -94,129 -84,872 [6]
Operating expenses -274,577 -238,486  
Operating results (EBIT) 69,673 52,705  
Interest income 183 178 [8]
Interest expenses -1,046 -705 [8]
Share of results of associated companies 380 970 [7]
Other financial expenses/income -23 1,035 [9]
Earnings before taxes (EBT) 69,167 54,183  
Income taxes -20,325 -16,401 [10]
Net income for the year 48,842 37,782  
Other comprehensive income:  
Difference from currency translation 6,846 10,482  
Subtotal of items of other comprehensive income that will be reclassified to income in future periods 6,846 10,482  
Gains/losses on revaluation of defined benefit pension plans -105 -54  
Tax effect 30 16  
Subtotal of items of other comprehensive income that will not be reclassified to income in future periods -75 -38  
Subtotal other comprehensive income 6,771 10,444  
Total comprehensive income for the year 55,613 48,226  
Net profit or loss for the period attributable to:  
Equity holders of the parent 46,925 35,896  
Non-controlling interests 1,917 1,886  
Net income for the year 48,842 37,782  
Total comprehensive income for the year attributable to:  
Equity holders of the parent 53,733 45,997  
Non-controlling interests 1,880 2,230  
Total comprehensive income for the year 55,613 48,227  
Earnings per share (undiluted) in euros 1.22 0.93  
Earnings per share (diluted) in euros 1.22 0.93 [11]
Average number of shares outstanding (undiluted) 38,500,000 38,500,000  
Average number of shares outstanding (diluted) 38,500,000 38,500,000  

The accompanying notes to this statement of comprehensive income form an integral part of these consolidated financial statements.

Balance Sheet

as of December 31, 2016 and as of December 31, 2015

Assets

Thousands of € December 31, 2016 December 31, 2015 [Notes]
Current assets
Cash and cash equivalents 112,482 83,966 [24]
Trade receivables, net 38,794 29,611 [13]
Inventories 597 530 [14]
Tax refunded claims for income taxes 3,477 2,467 [14]
Other current financial assets 10 78 [14]
Other current assets 12,546 9,297 [14]
Current assets, total 167,906 125,949
Non-current assets
Property, plant and equipment 14,255 13,792 [12]
Intangible assets 89,729 83,190* [12]
Goodwill 177,178 143,771* [12]
Investments in associates and non-current available-for-sale assets** 2,474 1,863
Deferred tax assets 2,234 1,372 [10]
Non-current financial assets 43 51 [14]
Other non-current assets 929 793 [14]
Non-current assets, total 286,842 244,832
Total assets 454,748 370,781

Equity and Liabilities

 

Thousands of € December 31, 2016 December 31, 2015 [Notes]
Current liabilities
Short-term borrowings and current portion of long-term loans 26,000 18,577 [18]
Trade payables 7,922 6,590 [18]
Provisions and accrued liabilities 32,778 25,619 [17]
Deferred revenue 55,293 41,996 [19]
Income tax liabilities 7,353 3,707 [18]
Other current financial obligations 1,224 571 [20]
Other current liabilities 15,539 7,086 [18]
Current liabilities, total 146,109 104,146
Non-current liabilities
Long-term borrowings without current portion 70,231 62,059 [18]
Deferred tax liabilities 20,600 20,798* [10]
Pensions and related obligations 1,660 1,744 [17]
Non-current financial obligations 9,721 8,500* [21]
Other non-current liabilities 4,309 6,617 [22]
Non-current liabilities, total 106,521 99,718
Equity
Subscribed capital 38,500 38,500 [15]
Capital reserve 12,485 12,485 [16]
Retained earnings 143,954 116,345 [16]
Other comprehensive income 4,363 -2,498 [16]
Equity (group shares) 199,302 164,832
Non-controlling interests 2,816 2,085
Equity, total 202,118 166,917
Total equity and liabilities 454,748 370,781

The accompanying notes to this statement of financial position form an integral part of these consolidated financial statements.
* Previous year values adjusted to finale purchase price allocation of Solibri Group
** See notes to the conslidated financial statements "investments in associates" and "non-current available-for-sale assets"

Cash Flow

for the period from January 1 to December 31, 2016 and 2015

Thousands of € 2016 2015 [Notes]
Profit (before tax) 69,167 54,183
Depreciation and amortization of fixed assets 18,314 16,781
Change in pension provision -189 23
Other non-cash transactions -147 70
Portion of the result of non-controlling interests -561 -970
Elimination of deconsolidation profit 0 -498
Result from disposal of fixed assets 177 420
Cash flow for the period 86,761 70,009 [24]
Interest income -183 -178
Interest expenses 1,046 705
Change in other provisions 4,685 3,408
Change in trade receivables -5,217 12
Change in other assets -2,716 2,357*
Change in trade payables 1,141 276
Change in other liabilities 8,191 -1,508*
Interest received 127 164
Income taxes received 1,749 1,141*
Income taxes paid -15,905 -11,264*
Cash flow from operating activities 79,678 65,122 [24]
Capital expenditure -7,370 -7,629
Cash paid for investments in financial assets 50 0
Cash received from disposal of shares 0 1,166
Cash received from disposal of fixed assets 311 205
Cash paid for acquisition of subsidiaries, net of cash acquired -40,419 -35,145
Cash flow from investing activities -47,528 -41,403 [24]
Dividend payments -19,250 -15,400
Dividend payments to non-controlling interests -1,162 -2,044
Cash received from bank loans 38,000 32,000
Interest paid -904 -629
Repayments of borrowings -22,200 -12,000
Payments for acquisitions of non-controlling interests 0 -1,877
Cash flow from financing activities -5,516 50 [24]
Changes in cash and cash equivalents 26,633 23,769
Effect of exchange rate differences on cash and cash equivalents 1,883 3,229
Cash and cash equivalents at the beginning of the period 83,966 56,968
Cash and cash equivalents at the end of the period 112,482 83,966 [24]

The accompanying notes to this cash flow statement form an integral part of these consolidated financial statements.
* For better comparability the previous year figures were reclassified