Financial highlights

INDEX

Key ratios

(thousand Euros)

Economic data

Economic data	2022	2021	2020	2019	2018
Revenue	1,891,114	1,483,803	1,250,191	1,182,528	1,035,793
Growth rate	27.5%	18.7%	5.7%	14.2%	17.1%
Gross operating income (EBITDA)	340,312	262,784	207,936	191,307	144,836
EBITDA margin	18.0%	17.7%	16.6%	16.2%	14.0%
Operating income (EBIT)	285,473	209,283	169,531	155,324	132,410
EBIT margin	15.1%	14.1%	13.6%	13.1%	12.8%
Group net income	191,016	150,672	123,598	113,858	99,913
Group net margin	10.1%	10.2%	9.9%	9.6%	9.6%
Tax rate	27.5%	28.5%	23.4%	27.8%	27.5%

Financial figures

Financial figures	2022	2021	2020	2019	2018
Group shareholder's equity	971,869	815,895	675,039	583,722	485,297
Non controlling interest	1,579	2,625	918	3,339	1,315
Total assets	2,228,150	1,857,597	1,506,568	1,307,913	1,076,104
Net working capital	46,590	(42,614)	(21,565)	74,317	145,288
Cash flow	184,573	207,578	229,028	202,793	119,835

Data per single share (in Euros)

Data per single share (in Euros)	2022	2021	2020	2019	2018
Net result per share	5.13	4.03	3.30	3.04	2.67
Shareholders' equity per share	25.94	21.74	18.04	15.60	12.97

Other information

Other information	2022	2021	2020	2019	2018
Number of employees	13,467	10,579	9,059	8,157	7,606

Income statements

(thousand Euros)

Consolidated income statements

Consolidated income statements	2022	2021	2020	2019	2018
Revenues	1,891,114	1,483,803	1,250,191	1,182,528	1,035,793
Other income	19,452	17,631	19,405	23,159	14,996
Purchases	(27,328)	(21,500)	(21,510)	(21,250)	(20,513)
Personnel	(986,744)	(759,567)	(621,362)	(578,263)	(508,652)
Services and other costs	(606,853)	(462,779)	(419,235)	(414,077)	(379,730)
Amortization, depreciation and write-downs	(58,612)	(48,391)	(42,441)	(37,239)	(13,848)
Other unusual (cost)/income	54,445	85	4,484	466	4,364
Operating income	285,473	209,283	169,531	155,324	132,410
(Loss)/gain on investments	(12,102)	8,164	1,240	11,364	6,862
Financial income/(expenses)	(4,676)	(4,168)	(8,717)	(5,268)	(55)
Income before taxes	268,695	213,279	162,054	161,419	139,217
Income taxes	(76,511)	(60,871)	(37,848)	(44,829)	(38,230)
Net income	192,184	152,408	124,206	116,590	100,987
Not controlling interest	(1,168)	(1,735)	(608)	(2,732)	(1,075)
Group net result	191,016	150,672	123,598	113,858	99,913

Balance sheets

(thousand Euros)

Consolidated statement of financial position

Consolidated statement of financial position	2022	2021	2020	2019	2018
Tangible assets	98,068	80,919	51,782	48,298	44,452
Goodwill	630,255	445,345	330,749	267,542	243,236
Other intangible assets	105.173	83.386	25,758	13,676	14,201
RoU Assets	112,341	119,549	137,645	90,569	-
Equity investments	51,049	66,361	56,421	56,991	47,512
Financial assets	11,706	8,556	9,577	7,567	5,255
Deferred tax assets	61,979	68,889	52,921	33,527	27,299
Non-current assets	1,070,572	873,006	664,852	518,170	381,955
Work in progress	83,880	86,787	79,784	75,328	77,061
Trade receivables	657,568	471,560	344,700	432,240	434,389
Other current assets	101,828	65,402	81,306	39,566	53,642
Financial assets	30,608	31,791	2,108	1,666	997
Cash and cash equivalents	283,695	329,051	333,819	240,943	128,060
Current assets	1,157,578	984,592	841,716	789,743	694,149
Total assets	2,228,150	1,857,597	1,506,568	1,307,913	1,076,104
Share capital	4,863	4,863	4,863	4,863	4,863
Other reserves	774,411	657,733	546,578	465,000	380,521
Net result of the period	191,016	150,672	123,598	113,858	99,913
Group shareholders' equity	970,291	813,269	675,039	583,722	485,297
Non-controlling interest	1,579	2,625	918	3,339	1,315
Net equity	971,869	815,895	675,957	587,061	486,612
Due to minority shareholders	112,827	107,493	53,010	38,395	45,295
Financial liabilities	74,533	23,313	20,387	26,857	24,247
Financial liabilities from RoU	97,624	102,129	118,796	71,710	-
Employee benefits	42,831	48,601	46,112	43,355	37,738
Deferred tax liabilities	44,964	34,690	16,117	19,810	17,128
Provisions	15,242	16,925	10,753	8,897	7,021
Non-current liabilities	388,021	333,150	265,174	209,025	131,430
Due to minority shareholders and earn-out	28,675	22,066	18,370	13,073	-
Financial liabilities	43,745	15,681	13,629	18,557	38,258
Financial liabilities from RoU	27,829	26,508	24,453	20,454	-
Trade payables	168,835	139,921	114,149	119,951	123,387
Other current liabilities	598,557	502,990	394,110	339,113	296,109
Provisions	619	1,387	724	680	308
Current liabilities	868,260	708,552	565,437	511,828	458,061
Total liabilities	1,256,281	1,041,702	830,611	720,853	589,492
Total shareholder's equity and liabilities	2,228,150	1,857,597	1,506,568	1,307,913	1,076,104

Net financial position and cash flow statement

(thousand Euros)

Financial position

Financial position	2022	2021	2020	2019	2018
Short-term financial position	242,729	318,653	297,844	203,598	90,799
M/L term financial position	(172.157)	(125.442)	(139.183)	(98,567)	(24,247)
Total net financial position	70,572	193,212	158,661	105,031	66,552

Cash and cash equivalents

Cash and cash equivalents	2022	2021	2020	2019	2018
Net cash flows from operating activities (A)	184,573	207,578	229,028	202,793	119,835
Net cash flows from investment activities (B)	(234,350)	(160,092)	(76,550)	(56,006)	(94,179)
Net cash flows from financing activities (C)	(1,651)	(65,305)	(59,549)	(29,698)	10,428
Net cash flows (D)=(A+B+C)	(51,428)	(17,819)	92,929	117,090	36,084
Cash and cash equivalents at period end	263,252	314,680	332,500	239,571	122,481
Total change in cash and cash equivalents (D)	(51,428)	(17,819)	92,929	117,090	36,084