Financial Highlights

Key Ratios

(thousand Euros)

Economic data20162015201420132012
Revenue780,739705,601632,184560,151494,831
Growth rate10.6%11.6%12.9%13.2%12.4%
Gross operating income (EBITDA)106,41798,73685,11972,60062,424
EBITDA margin13.6%14%13.5%13%12.6%
Operating income (EBIT)99,59490,55880,66364,17152,249
EBIT margin12.8%12.8%12.8%11.5%10.6%
Group net income67,54456,74847,90934,45027,094
Group net margin8.7%8%7.6%6.2%5.5%
Tax rate30.5%35.4%38.7%43.2%43.8%
FINANCIAL FIGURES20162015201420132012
Group shareholder's equity337,017295,425251,908211,809175,756
Non controlling interest5206539367992,704
Total assets770,575700,745616,712549,531475,298
Net working capital160,404162,566134,341124,374120,477
Cash flow79,49744,33449,57844,13231,986
DATA PER SINGLE SHARE (in euros)20162015201420132012
Number of shares9,3539,3539,3539,3089,223
Net result per share7.226.075.123.812.94
Shareholders' equity per share36.0131.5826.9322.7619.06
OTHER INFORMATION20162015201420132012
Number of employees6,0155,2454,6894,2533,725

Income Statements

(thousand Euros)

CONSOLIDATED INCOME STATEMENTS20162015201420132012
Revenues780,739705,601632,184560,151494,831
Other income19,57915,64317,08514,30711,563
Purchases(16,969)(14,049)(12,227)(10,644)(10,894)
Personnel(379,713)(349,721)(308,452)(269,893)(239,258)
Services and other costs(296,650)(256,137)(239,220)(214,726)(191,803)
Amortization, depreciation and write-downs(11,669)(9,371)(8,021)(7,949)(6,855)
Other unusual (cost)/income4,277(1,408)(686)(7,075)(5,334)
Operating income99,59490,55880,66364,17152,249
(Loss)/gain on investments(668)440---
Financial income/(expenses)(1,520)(2,067)(1,396)(2,439)(1,984)
Income before taxes97,40588,93079,26761,73250,265
Income taxes(29,698)(31,502)(30,646)(26,652)(22,006)
Net income67,70757,41848,62135,08028,259
Not controlling interest(163)(680)(712)(630)(1,164)
Group net result67,54456,74847,90934,45027,094

Balance sheets

(thousand Euros)

Consolidated statement of financial position20162015201420132012
Tangible assets17,68617,02214,97613,55311,562
Goodwill157,429133,376126,763125,637105,195
Other intangible assets17,0169,6966,5496,3635,960
Equity investments14,1109,1053,9112323
Financial assets9,7395,6294,4714,2755,724
Deferred tax assets16,46617,33915,05213,99711,076
Not current assets232,445192,167171,722163,847139,540
Work in progress58,65157,92940,80121,91015,428
Trade receivables339,194302,250285,465271,166237,700
Other current assets44,81040,97327,66125,45427,323
Financial assets2,9252,2892,2451,0101,315
Cash and cash equivalents92,550105,13788,81966,14553,992
Current assets538,130508,577444,990385,684335,758
TOTAL ASSETS770,575700,745616,712549,531475,298
Share capital4,8634,8634,8634,8404,796
Other reserves264,610233,814199,135172,519144,866
Group net income67,54456,74847,90934,45027,094
Group shareholders' equity337,017295,425251,908211,809175,756
Non controlling interest5206539367992,704
SHAREHOLDERS' EQUITY337,537296,079252,843212,608178,461
Payables to minority shareholders and corporate transactions24,55819,74613,30635,36440,190
Financial liabilities31,05133,86931,03021,71913,427
Employee benefits30,40125,86624,45420,08918,035
Deferred tax liabilities18,56321,47115,63012,4589,945
Provisions10,54518,84914,77211,43610,162
Not current liabilities115,118119,80199,191101,06791,759
Financial liabilities35,67046,28045,09241,70245,104
Trade payables92,73577,68683,36068,12456,656
Other current liabilities189,144160,640135,202125,047102,160
Provisions3712601,0249841,159
Current liabilities317,921284,865264,678235,857205,078
TOTAL LIABILITIES433,038404,666363,869336,924296,837
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES770,575700,745616,712549,531475,298

NET FINANCIAL POSITION AND CASH FLOW STATEMENT

(thousand Euros)

20162015201420132012
Short-term financial position59,80561,14645,97225,45310,203
M/L term financial position(31,047)(32,960)(29,659)(20,442)(10,576)
Total net financial position28,75828,18616,3135,011(373)

CASH AND CASH EQUIVALENTS20162015201420132012
Net cash flows from operating activities (A)79,49744,33449,57844,13231,986
Net cash flows from investment activities (B)(67,909)(25,328)(31,933)(28,892)(13,032)
Net cash flows from financing activities (C)(5,186)357(5,761)5,011(6,738)
Net cash flows (D)=(A+B+C)6,40219,36311,88420,25112,216
Cash and cash equivalents at period end76,51170,10950,74538,86118,610
Total change in cash and cash equivalents (D)6,40219,36311,88420,25112,216