Publications


Financial Figures

All important financial key figures compact and at a glance:

 in EUR million  Dec. 31, 2019   Dec. 31, 2018   Dec. 31, 2017   Dec. 31, 2016   Dec. 31, 2015  
  Operative figures               
  Revenues 556.9   461.3   395.6   337.3   285.3  
  - thereof software licenses 228.2   216.8   195.0   175.8   150.4  
  - thereof recurring revenues 299.5   225.8   183.9   146.5   122.4  
  - subscription (as part of the recurring revenues) 50.3   23.4   13.7   –   –  
  EBITDA 165.7   121.3   108.0   88.0   69.5  
  as % of revenue 29.7%   26.3%   27.3%   26.1%   24.4%  
  EBITA 140.7   112.5   99.9   80.7   62.8  
  as % of revenue 25.3%   24.4%   25.3%   23.9%   22.0%  
  EBIT 123.6   97.8   86.4   69.7   52.7  
  as % of revenue 22.2%   21.2%   21.9%   20.7%   18.5%  
  Net income (group shares) 127.2   76.5   74.7   46.9   35.9  
  per share in € 1.10   0.66   0.65   0.41   0.31  
  Net income ( group shares) adjusted for DocuWare effect 97.7   76.5   85.2   55.1   42.8  
  per share in € 0.85   0.66   0.65   0.41   0.31  
  Net income (group shares) before purchase price allocation 140.3   88.1   85.2   55.1   42.8  
  per share in € 1.21   0.76   0.74   0.48   0.37  
  Cash flow figures               
  Cash flow from operating activities 160.4   99.7   97.4   79.7   61.6  
  Cash flow from investing activities (83.8)   (74.4)   (54.6)   (47.5)   (41.4)  
  Cash flow from financing activities 10.7   (10.4)   (44.8)   (5.5)   0.0  
  Free cash flow 76.6   25.4   42.8   32.1   23.7  
  Free cash flow before M&A investments 174.5   88.5   88.2   72.6   58.9  
  Balance sheet figures               
  Cash and cash equivalents 209.1   120.7   104.0   112.5   84.0  
  Net liquidity/net debt 21.0   (9.9)   24.0   16.3   3.3  
  Balance sheet total 857.2   580.6   460.8   454.7   370.8  
  Equity ratio in % 40.7%   43.0%   49.5%   44.4%   45.0%  
  Headcount as of balance sheet date 2,875   2,587   2,142   1,925   1,754  
  Share figures               
  Closing price (Xetra) in € 58.80   31.92   24.95   18.42   15.34  
  Market Capitalization 6,791.40   3,686.38   2,881.34   2,127.51   1,772.16  

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for the period from January 1 to Dezember 31, 2019 and 2018

 Thousands of €  2019   2018   [Notes]  
  Revenues 556,879   461,299   [1]  
  Other operating income 6,216   5,478   [2]  
  Operating income 563,095   466,777     
  Cost of goods and services (20,246)   (14,283)   [3]  
  Personnel expenses (239,427)   (200,562)   [4]  
  Depreciation of property, plant and equipment and amortization of intangible assets (42,052)   (23,460)   [5]  
  thereof amortization of intangible assets due to purchase price allocation (17,062)   (14,713)     
  Other operating expenses (137,757)   (130,677)   [6]  
  Operating expenses (439,483)   (368,982)     
  Operating result (EBIT) 123,612   97,795     
  Interest income 858   470   [7]  
  Interest expenses (3,165)   (1,124)   [7]  
  Share of net profit of associates 531   536   [18]  
  Gain on disposal of shares in associates 29,927   0   [8]  
  Other financial expenses/income 1,907   2,131   [9]  
  Earnings before taxes (EBT) 153,669   99,808     
  Income taxes (26,415)   (23,248)   [10]  
  Net income for the year 127,254   76,560     
  Other comprehensive income:         
  Difference from currency translation 3,173   5,032     
  Items of other comprehensive income that are reclassified subsequently to profit or loss 3,173   5,032     
  Gains/losses from the revaluation of defined benefit pension plans (184)   98     
  Tax effect 55   (28)     
  Items of other comprehensive income that will not be reclassified to profit or loss (129)   70     
  Subtotal other comprehensive income 3,045   5,102     
  Total comprehensive income for the year 130,299   81,662     
  Net profit or loss for the period attributable to:         
  Equity holders of the parent 127,155   76,467     
  Non-controlling interests 99   93     
  Net income for the year 127,254   76,560     
  Total comprehensive income for the year attributable to:         
  Equity holders of the parent 130,195   81,481     
  Non-controlling interests 102   181     
  Total comprehensive income for the year 130,297.31   81,662.00     
  Earnings per share (undiluted) in euros 1.10   0.66*   [11]  
  Earnings per share (diluted) in euros 1.10   0.66*   [11]  
  Average number of shares outstanding (undiluted) 115,500,000   115,000,000*   [25]  
  Average number of shares outstanding (diluted) 115,500,000   115,000,000*   [25]  
  Average number of shares outstanding (diluted)         

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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, 2019 and as of December 31, 2018

 Thousands of €  31/12/2019   31/12/2018   [Notes]  
  Current Assets         
  Cash and cash equivalents 209,143   120,747   [12]  
  Trade receivables 62,046   55,758   [13]  
  Inventories 1,012   811   [14]  
  Income tax receivables 3,945   4,239   [10]  
  Other financial assets 1,089   4,209   [14], [24]  
  Other non-financial assets 18,267   16,485   [14]  
  Current assets, total 295,503   202,249     
  Non-current assets         
  Property, plant and equipment 27,620   17,574   [15]  
  Intangible assets 127,660   102,085   [16]  
  Goodwill 325,041   244,349   [16]  
  Right-of-use assets 66,163   0   [17]  
  Investments in associates 1,101   3,964   [18]  
  Deferred tax assets 6,250   3,157   [10]  
  Other financial assets 5,613   5,315   [14], [24]  
  Other non-financial assets 2,251   1,865   [14]  
  Non-current assets, total 561,700   378,309     
  Total assets 857,204   580,558     
 Thousands of €  31/12/2019   31/12/2018   [Notes]  
 Current liabilities          
 Short-term borrowings and current portion of long-term loans  56,623   56,348   [19], [24]  
 Trade payables  12,404   12,878   [19], [24]  
 Provisions and accrued liabilities  43,999   40,647   [20]  
 Deferred revenue  118,474   95,113   [21]  
 Income tax liabilities  10,967   5,441   [10]  
 Other financial liabilities  2,131   1,698   [19], [24]  
 Lease liabilities   12,589   0   [19], [24]  
 Other non-financial liabilities  12,455   10,180   [22]  
 Current liabilities, total  271,642   222,305     
 Non-current liabilities            
 Long-term borrowings without current portion  129,500   74,280   [19], [24]  
 Deferred tax liabilities  23,342   17,198   [10]  
 Pensions and related obligations  1,940   1,677   [23]  
 Provisions  3,235   2,128   [20]  
 Deferred revenue  3,711   262   [21]  
 Income tax liabilities  3,103   2,410   [10]  
 Other financial liabilities  7,085   4,115   [19], [24]  
 Lease liabilities   57,738   0   [19], [24]  
 Other non-financial liabilities  7,292   6,586   [22]  
 Non-current liabilities, total  236,946   108,656     
 Equity        [25]  
 Subscribed capital  115,500   38,500     
 Capital reserve   12,485   12,485     
 Retained earnings  230,924   212,084     
 Other comprehensive income  (10,396)   (13,566)     
 Equity (Group shares)  348,513   249,503     
 Non-controlling interests  103   94     
 Equity, total  348,616   249,597     
 Total equity and liabilities  857,204   580,558     

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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, 2019 and 2018

 Thousands of €  2019   2018   [Notes]  
 Profit (before Tax)  153,669   99,808     
 Depreciation and amortization of fixed assets  42,052   23,460     
 Change in pension provision  80   72     
 Other non-cash transactions  (684)   (1,575)     
 Share of net profit of associates  (531)   (536)     
 Gain on disposal of shares in associates  (29,927)   0     
 Result from disposal of fixed assets  84   72     
 Cash flow for the period  164,743   121,301   [27]  
 Interest income  (858)   (470)     
 Interest expenses  3,165   1,124     
 Change in other provisions   3,032   3,313     
 Change in trade receivables  (4,202)   (10,459)     
 Change in other assets  1,221   (15,096)     
 Change in trade payables  (826)   4,553     
 Change in other liabilities  19,734   25,522     
 Dividends received from associates  22   28     
 Interests received  829   278     
 Income taxes received  1,527   1,067     
 Income taxes paid  (28,010)   (31,414)     
 Cash flow from operating activities  160,376   99,747   [27]  
 Capital expenditure  (19,273)   (11,295)     
 Cash received from disposal of shares in associate  33,345   0     
 Changes in liabilities from acquisitions  0   (40)     
 Cash received from disposal of fixed assets  67   39     
 Cash paid for acquisition of subsidiaries, net of cash acquired  (97,921)   (63,092)     
 Cash flow from investing activities  (83,781)   (74,388)   [27]  
 Dividend payments  (31,185)   (28,875)     
 Dividend payments to non-controlling interests  (93)   (1,711)     
 Repayment of borrowings  (72,480)   (38,000)     
 Changes in bank liabilities due to company acquisitions  130,000   86,000     
 Principal elements of lease payments  (11,255)   0     
 Interests paid  (2,811)   (846)     
 Payments for acquisitions of non-controlling interests  (1,500)   (26,962)     
  Cash flow from financing activities 10,676   (10,394)   [27]  
  Changes in cash and cash equivalents 87,270   14,965     
  Effect of exchange rate differences on cash and cash equivalents 1,126   1,825     
  Cash and cash equivalents at the beginning of the period 120,747   103,957     
  Cash and cash equivalents at the end of the period 209,143   120,747   [12]  


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