Financial Figures

All important financial key figures compact and at a glance:

 in EUR million  Dec. 31, 2022   Dec. 31, 2021   Dec. 31, 2020    Dec. 31, 2019   Dec. 31, 2018  
 Operative figures                
 Revenues  801.8   681.5   596.9   556.9   461.3  
 - thereof software licenses  235.0   234.8   210.0   228.2   216.8  
 - thereof recurring revenues  532.6   416.7   359.0   299.5   225.8  
 - subscription & SaaS (as part of the recurring revenues)  204.2   132.0   90.4   50.3   23.4  
 Annual Recurring Revenue (ARR)  581.7              
 EBITDA  257.0   222.0   172.3   165.7   121.3  
 as % of revenue  32.0%   32.6%   28.9%   29.7%   26.3%  
 EBITA  232.6   199.6   149.3   143.7   112.5  
 as % of revenue  29.0%   29.3%   25.0%   25.8%   24.4%  
 EBIT  198.1   172.0   122.5   123.6   97.8  
 as % of revenue  24.7%   25.2%   20.5%   22.2%   21.2%  
 Net income (group shares)  161.9   134.6   96.9   127.2   76.5  
 per share in €  1.40   1.17   0.84   1.10   0.66  
 Net income (group shares) before purchase price allocation  188.9   153.9   115.2   140.3   88.1  
 per share in €  1.64   1.33   1.00   1.21   0.76  
 Cash flow figures                
 Cash flow from operating activities  213.8   214.4   157.5   160.4   99.7  
 Cash flow from investing activities  (52.4)   (147.6)   (111.0)   (83.8)   (74.4)  
 Cash flow from financing activities  (124.0)   (55.4)   (109.1)   10.7   (10.4)  
 Free cash flow  161.4   66.7   46.5   76.6   25.4  
 Free cash flow before M&A investments  182.4   193.8   148.2   174.5   88.5  
 Balance sheet figures                
 Cash and cash equivalents  196.8   157.1   139.3   209.1   120.7  
 Net liquidity/net debt  124.9   28.4   9.0   21.0   (9.9)  
 Balance sheet total  1,198.1   1,054.2   889.7   857.2   580.6  
 Equity ratio in %  57.5%   51.4%   46.9%   40.7%   43.0%  
 Headcount as of balance sheet date  3,448   3,180   3,074   2,875   2,587  
 Share figures                
 Closing price (Xetra) in €  47.69   112.80   60.40   58.80   31.92  
 Market Capitalization  5,508.20   13,028.40   6,976.20   6,791.40   3,686.38  

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for the period from January 1 to December 31, 2021 and 2022

 Thousands of €   2022  2021   [Notes]  
 Revenues  801,813   681,471   [1]  
 Other income  12,566   9,829   [2]  
 Operating income  814,379   691,300     
 Cost of goods and services  (31,785)   (25,343)   [3]  
 Personnel expenses  (337,219)   (292,019)   [4]  
 Depreciation of property, plant and equipment and amortization of intangible assets  (58,842)   (49,974)   [5]  
 thereof amortization of intangible assets due to purchase price allocation  (31,807)   (25,437)     
 Other expenses  (188,396)   (151,974)   [6]  
 Operating expenses  (616,242)   (519,309)     
 Operating result (EBIT)  198,137   171,991     
 Interest income  490   147   [7]  
 Interest expenses  (2,624)   (2,740)   [7]  
 Other financial expenses/income  3,446   892   [8]  
 Net finance costs  1,312   (1,700)     
 Share of net profit of associates  82   334   [9], [18]  
 Gain on disposal of shares in associates  0   0   [8]  
 Earnings before taxes (EBT)  199,530   170,625     
 Income taxes  (34,426)   (33,702)   [10]  
 Net income for the year  165,104   136,923     
 Other comprehensive income:          
 Difference from currency translation  10,396   23,259     
 Items of other comprehensive income that are reclassified subsequently to profit or loss   10,396   23,259     
 Gains/losses from the revaluation of defined benefit pension plans  1,098   174   [22]  
 Tax effect  (315)   (52)   [10]  
 Items of other comprehensive income that will not be reclassified to profit or loss  783   122     
 Subtotal other comprehensive income  11,179   23,381     
 Total comprehensive income for the year  176,283   160,304     
 Net profit or loss for the period attributable to:          
 Equity holders of the parent  161,899   134,618     
 Non-controlling interests  3,206   2,305     
 Net income for the year  165,104   136,923     
 Total comprehensive income for the year attributable to:           
 Equity holders of the parent  171,530   156,594     
 Non-controlling interests  4,753   3,710     
 Total comprehensive income for the year  176,283   160,304     
 Earnings per share (undiluted) in euros  1.40   1.17   [11]  
 Earnings per share (diluted) in euros  1.40   1.17   [11]  
 Average number of shares outstanding (undiluted)  115,500,000   115,500,000   [24]  
 Average number of shares outstanding (diluted)  115,500,000   115,500,000   [24]  

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

as of December 31, 2021 and as of December 31, 2022

 Thousands of €  31.12.2022   31.12.2021   [Notes]  
 Current Assets          
 Cash and cash equivalents  196,821   157,095   [12]  
 Trade receivables  84,520   70,108   [13], [23]  
 Inventories  890   949   [14]  
 Income tax receivables  11,289   4,766   [10]  
 Other financial assets  2,492   1,220   [14], [23]  
 Other non-financial assets  31,120   28,990   [14]  
 Current assets, total  327,132   263,128     
 Non-current assets          
 Property, plant and equipment  26,568   20,736   [15]  
 Intangible assets  171,703   158,884   [16]  
 Goodwill  557,047   541,998   [16]*  
 Right-of-use assets  69,795   59,233   [17]  
 Investments in associates  4,010   4,063   [18]  
 Deferred tax assets  21,465   8,208   [10]  
 Other financial assets  18,377   13,816   [14], [23]  
 Other non-financial assets  2,031   2,158   [14]  
 Non-current assets, total  870,996   809,095     
 Total assets  1,198,128   1,072,224     
 Thousands of €  31.12.2022   31.12.2021   [Notes]  
 Current liabilities          
 Short-term borrowings and current portion of long-term loans  65,072   93,766   [19], [23]  
 Trade payables  15,712   11,260   [19], [23]  
 Provisions and accrued liabilities  70,251   71,744   [20]  
 Deferred revenue  206,939   157,975   [1]  
 Income tax liabilities  10,660   11,496   [10]  
 Other financial liabilities  1,494   7,355   [19], [23]  
 Lease liabilities   14,854   14,060   [19], [23]  
 Other non-financial liabilities  18,858   16,870   [21]  
 Current liabilities, total  403,841   384,526     
 Non-current liabilities          
 Long-term borrowings without current portion  6,873   34,935   [19], [23]  
 Deferred tax liabilities  19,802   20,590   [10]  
 Pensions and related obligations  2,455   3,601   [22]  
 Provisions  1,582   4,530   [20]  
 Deferred revenue  2,631   2,966   [1]  
 Income tax liabilities  6,035   4,787   [10]  
 Other financial liabilities  390   1,241   [19], [23]  
 Lease liabilities   62,443   51,977   [19], [23]  
 Other non-financial liabilities  2,853   3,379   [21]  
 Non-current liabilities, total  105,065   128,005     
 Equity        [24], [25]  
 Subscribed capital  115,500   115,500     
 Capital reserve   12,485   12,485     
 Retained earnings  533,871   415,410     
 Other comprehensive income  (8,586)   (17,533)     
 Equity (Group shares)  653,270   525,862     
 Non-controlling interests  35,953   33,830   *  
 Equity, total  689,223   559,693     
 Total equity and liabilities  1,198,128   1,072,224     

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The accompanying notes to this statement of financial position form an integral part of these consolidated financial statements.
* See notes to the conslidated financial statements "investments in associates" and "non-current available-for-sale assets"

for the period from January 1 to December 31, 2021 and 2022

 Thousands of €   2022  2021   [Notes]  
 Profit (before tax)  199,530   170,625     
 Depreciation and amortization of fixed assets  58,842   49,974     
 Net finance costs  (1,312)   1,700     
 Share of net profit of associates  (82)   (334)     
 EBITDA  256,979   221,965   [27]  
 Other non-cash transactions  1,508   109     
 Cash flow for the period  258,487   222,074   [27]  
 Change in trade working capital  26,681   18,576     
 Change in other working capital  (12,356)   10,608     
 Dividends received from associates  134   97     
 Interests received  486   92     
 Income taxes received  2,942   3,309     
 Income taxes paid  (62,590)   (40,395)     
 Financing effects and tax cash flow  0   0     
 Cash flow from operating activities  213,784   214,361   [27]  
 Capital expenditure  (19,028)   (9,925)     
 Changes in liabilities from acquisitions  (7,668)   (1,683)     
 Cash received from disposal of fixed assets  74   245     
 Cash paid for acquisition of subsidiaries, net of cash acquired  (20,990)   (127,070)     
 Cash paid for acquisition of equity instruments of other entities   (4,793)   (6,732)     
 Cash paid for acquisition of interests in associates  0   (2,452)     
 Cash flow from investing activities  (52,405)   (147,617)   [27]  
 Dividend payments  (45,045)   (34,650)     
 Dividend payments to non-controlling interests  (2,631)   (1,283)     
 Cash received from loans  40,800   75,579     
 Repayment of borrowings  (98,679)   (77,500)     
 Changes in bank liabilities due to company acquisitions  0   0     
 Principal elements of lease payments  (16,015)   (15,110)     
 Interests paid  (2,412)   (2,390)     
 Payments for acquisitions of non-controlling interests  0   0     
 Cash flow from financing activities  (123,982)   (55,354)   [27]  
 Changes in cash and cash equivalents  37,397   11,390     
 Effect of exchange rate differences on cash and cash equivalents  2,329   6,385     
 Cash and cash equivalents at the beginning of the period  157,095   139,320     
 Cash and cash equivalents at the end of the period   196,821   157,095   [12]  

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