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INVESTORSFINANCIAL HIGHLIGHTS
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Financial Highlights

Key Ratios

(thousand Euros)

Economic data20202019201820172016
Revenue1,250,1911,182,5281,035,793884,434780,739
Growth rate5.7%14.2%17.1%13.3%10.6%
Gross operating income (EBITDA)207,936191,307144,836123,244106,417
EBITDA margin16.6%16.2%14.0%13.9%13.6%
Operating income (EBIT)169,531155,324132,410113,87399,594
EBIT margin13.6%13.1%12.8%12.9%12.8%
Group net income123,598113,85899,91377,87167,544
Group net margin9.9%9.6%9.6%8.8%8.7%
Tax rate23.4%27.8%27.5%28.8%30.5%
FINANCIAL FIGURES20202019201820172016
Group shareholder's equity675,039583,722485,297401,404337,017
Non controlling interest9183,3391,315668520
Total assets1,506,5681,307,9131,076,104871,154770,575
Net working capital(21.565)74,317145,288167,870160,404
Cash flow229,028202,793119,83573,20279,497
DATA PER SINGLE SHARE (in euros)20202019201820172016
Net result per share3.303.042.672.081.81
Shareholders' equity per share18.0415.6012.9710.739.00
OTHER INFORMATION20202019201820172016
Number of employees9,0598,1577,6066,4566,015

Income Statements

(thousand Euros)

CONSOLIDATED INCOME STATEMENTS20202019201820172016
Revenues1,250,1911,182,5281,035,793884,434780,739
Other income19,40523,15914,99617,67219,579
Purchases(21,510)(21,250)(20,513)(15,269)(16,969)
Personnel(621,362)(578,263)(508,652)(431,555)(379,713)
Services and other costs(419,235)(414,077)(379,730)(329,924)(296,650)
Amortization, depreciation and write-downs(42,441)(37,239)(13,848)(12,353)(11,669)
Other unusual (cost)/income4,4844664,3648694,277
Operating income169,531155,324132,410113,87399,594
(Loss)/gain on investments1,24011,3646,862(585)(668)
Financial income/(expenses)(8,717)(5,268)(55)(2.978)(1,520)
Income before taxes162,054161,419139,217110,31097,405
Income taxes(37,848)(44,829)(38,230)(31,765)(29,698)
Net income124,206116,590100,98778,84567,707
Not controlling interest(608)(2,732)(1,075)(674)(163)
Group net result123,598113,85899,91377,87167,544

Balance sheets

(thousand Euros)

Consolidated statement of financial position20202019201820172016
Tangible assets51,78248,29844,45221,55217,686
Goodwill330,749267,542243,236166,132157,429
Other intangible assets25,75813,67614,20115,52517,016
RoU Assets137,64590,569---
Equity investments56,42156,99147,51229,20114,110
Financial assets9,5777,5675,2556,3859,739
Deferred tax assets52,92133,52727,29924,66116,466
Non-current assets664,852518,170381,955263,457232,445
Work in progress79,78475,32877,06193,65158,651
Trade receivables344,700432,240434,389357,082339,194
Other current assets81,30639,56653,64245,72644,810
Financial assets2,1081,6669972,0422,925
Cash and cash equivalents333,819240,943128,060109,19592,550
Current assets841,716789,743694,149607,697538,130
TOTAL ASSETS1,506,5681,307,9131,076,104871,154770,575
Share capital4,8634,8634,8634,8634,863
Other reserves546,578465,000380,521318,670264,610
Net result of the period123,598113,85899,91377,87167,544
Group shareholders' equity675,039583,722485,297401,404337,017
Non-controlling interest9183,3391,315668520
NET EQUITY675,957587,061486,612402,072337,537
Due to minority shareholders53,01038,39545,29522,27524,558
Financial liabilities20,38726,85724,24714,10231,051
Financial liabilities from RoU118,79671,710---
Employee benefits46,11243,35537,73831,83830,401
Deferred tax liabilities16,11719,81017,12818,53918,563
Provisions10,7538,8977,02113,63510,545
Non-current liabilities265,174209,025131,430100,388115,118
Financial liabilities18,37013,07338,25840,10535,670
Financial liabilities from RoU24,45320,454---
Trade payables114,149119,951123,387100,15092,735
Other current liabilities394,110339,113296,109228,165189,144
Provisions724680308274371
Current liabilities565,437511,828458,061368,693317,921
TOTAL LIABILITIES830,611720,853589,492469,082433,038
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES1,506,5681,307,9131,076,104871,154770,575

NET FINANCIAL POSITION AND CASH FLOW STATEMENT

(thousand Euros)

20202019201820172016
Short-term financial position203,598203,59890,79971,13259,805
M/L term financial position(98.567)(98,567)(24,247)(14,102)(31,047)
Total net financial position105,031105,03166,55257,03028,758

CASH AND CASH EQUIVALENTS20202019201820172016
Net cash flows from operating activities (A)229,028202,793119,83573,20279,497
Net cash flows from investment activities (B)(76.550)(56,006)(94,179)(32,812)(67,909)
Net cash flows from financing activities (C)(59.549)(29,698)10,428(30,504)(5,186)
Net cash flows (D)=(A+B+C)92,929117,09036,0849,8876,402
Cash and cash equivalents at period end332,500239,571122,48186,39876,511
Total change in cash and cash equivalents (D)92,929117,09036,0849,8876,402