Financial Highlights

Key Ratios

(thousand Euros)

Economic data20182017201620152014
Revenue1,035,793884,434780,739705,601632,184
Growth rate17.10%13.3%10.6%11.6%12.9%
Gross operating income (EBITDA)144,836123,244106,41798,73685,119
EBITDA margin14.0%13.9%13.6%14%13.5%
Operating income (EBIT)132,410113,87399,59490,55880,663
EBIT margin12.8%12.9%12.8%12.8%12.8%
Group net income99,91377,87167,54456,74847,909
Group net margin9.6%8.8%8.7%8%7.6%
Tax rate27.5%28.8%30.5%35.4%38.7%
FINANCIAL FIGURES20182017201620152014
Group shareholder's equity485,297401,404337,017295,425251,908
Non controlling interest1,315668520653936
Total assets1,076,104871,154770,575700,745616,712
Net working capital145,288167,870160,404162,566134,341
Cash flow119,83573,20279,49744,33449,578
DATA PER SINGLE SHARE (in euros)20182017201620152014
Net result per share2.672.081.811.511.28
Shareholders' equity per share12.9710.739.007.906.73
OTHER INFORMATION20182017201620152014
Number of employees7,6066,4566,0155,2454,689

Income Statements

(thousand Euros)

CONSOLIDATED INCOME STATEMENTS20182017201620152014
Revenues1,035,793884,434780,739705,601632,184
Other income14,99617,67219,57915,64317,085
Purchases(20,513)(15,269)(16,969)(14,049)(12,227)
Personnel(508,652)(431,555)(379,713)(349,721)(308,452)
Services and other costs(379,730)(329,924)(296,650)(256,137)(239,220)
Amortization, depreciation and write-downs(13,848)(12,353)(11,669)(9,371)(8,021)
Other unusual (cost)/income4,3648694,277(1,408)(686)
Operating income132,410113,87399,59490,55880,663
(Loss)/gain on investments6,862(585)(668)440-
Financial income/(expenses)(55)(2.978)(1,520)(2,067)(1,396)
Income before taxes139,217110,31097,40588,93079,267
Income taxes(38,230)(31,765)(29,698)(31,502)(30,646)
Net income100,98778,84567,70757,41848,621
Not controlling interest(1,075)(674)(163)(680)(712)
Group net result99,91377,87167,54456,74847,909

Balance sheets

(thousand Euros)

Consolidated statement of financial position20182017201620152014
Tangible assets44,45221,55217,68617,02214,976
Goodwill243,236166,132157,429133,376126,763
Other intangible assets14,20115,52517,0169,6966,549
Equity investments47,51229,20114,1109,1053,911
Financial assets5,2556,3859,7395,6294,471
Deferred tax assets27,29924,66116,46617,33915,052
Not current assets381,955263,457232,445192,167171,722
Work in progress77,06193,65158,65157,92940,801
Trade receivables434,389357,082339,194302,250285,465
Other current assets53,64245,72644,81040,97327,661
Financial assets9972,0422,9252,2892,245
Cash and cash equivalents128,060109,19592,550105,13788,819
Current assets694,149607,697538,130508,577444,990
TOTAL ASSETS1,076,104871,154770,575700,745616,712
Share capital4,8634,8634,8634,8634,863
Other reserves380,521318,670264,610233,814199,135
Group net income99,91377,87167,54456,74847,909
Group shareholders' equity485,297401,404337,017295,425251,908
Non controlling interest1,315668520653936
SHAREHOLDERS' EQUITY486,612402,072337,537296,079252,843
Payables to minority shareholders and corporate transactions45,29522,27524,55819,74613,306
Financial liabilities24,24714,10231,05133,86931,030
Employee benefits37,73831,83830,40125,86624,454
Deferred tax liabilities17,12818,53918,56321,47115,630
Provisions7,02113,63510,54518,84914,772
Not current liabilities131,430100,388115,118119,80199,191
Financial liabilities38,25840,10535,67046,28045,092
Trade payables123,387100,15092,73577,68683,360
Other current liabilities296,109228,165189,144160,640135,202
Provisions3082743712601,024
Current liabilities458,061368,693317,921284,865264,678
TOTAL LIABILITIES589,492469,082433,038404,666363,869
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES1,076,104871,154770,575700,745616,712

NET FINANCIAL POSITION AND CASH FLOW STATEMENT

(thousand Euros)

20182017201620152014
Short-term financial position90,79971,13259,80561,14645,972
M/L term financial position(24,247)(14,102)(31,047)(32,960)(29,659)
Total net financial position66,55257,03028,75828,18616,313

CASH AND CASH EQUIVALENTS20182017201620152014
Net cash flows from operating activities (A)119,83573,20279,49744,33449,578
Net cash flows from investment activities (B)(94,179)(32,812)(67,909)(25,328)(31,933)
Net cash flows from financing activities (C)10,428(30,504)(5,186)357(5,761)
Net cash flows (D)=(A+B+C)36,0849,8876,40219,36311,884
Cash and cash equivalents at period end122,48186,39876,51170,10950,745
Total change in cash and cash equivalents (D)36,0849,8876,40219,36311,884