Publications

Thousands of €	2024	2023	[Notes]
Revenues	995,565	851,563	[1]
Other income	11,753	8,915	[2]
Operating income	1,007,318	860,478
Cost of goods and services	(40,489)	(33,864)	[3]
Personnel expenses	(406,051)	(360,872)	[4]
Depreciation of property, plant and equipment and amortization of intangible assets	(66,787)	(58,216)	[5]
thereof amortization of intangible assets due to purchase price allocation	(36,693)	(29,403)
Other expenses	(259,767)	(208,028)	[6]
thereof expenses from loss allowances on trade receivables	(4,618)	(766)	[13]
Operating expenses	(773,094)	(660,980)
Operating result (EBIT)	234,224	199,498
Interest income	4,702	3,421	[7]
Interest expenses	(16,742)	(3,277)	[7]
Other financial expenses	(11,448)	(6,396)	[8]
Other financial income	(18,123)	11,057	[8]
Net finance income / costs	(5,365)	4,805
Share of net profit of associates	(643)	239	[9]. [18]
Earnings before taxes (EBT)	228,216	204,542
Income taxes	(49,440)	(40,562)	[10]
Net income for the year	178,776	163,980
Other comprehensive income:
Difference from currency translation	39,269	(14,543)
Items of other comprehensive income that are reclassified subsequently to profit or loss	39,269	(14,543)
Gains/losses from the revaluation of defined benefit pension plans	(292)	(548)	[22]
Tax effect	94	95	[10]
Items of other comprehensive income that will not be reclassified to profit or loss	(198)	(453)
Subtotal other comprehensive income	39,071	(14,997)
Total comprehensive income for the year	217,847	148,983
Net profit or loss for the period attributable to:
Equity holders of the parent	175,422	161,256
Non-controlling interests	3,354	2,724
Net income for the year	178,776	163,980
Total comprehensive income for the year attributable to:
Equity holders of the parent	212,822	147,177
Non-controlling interests	5,025	1,807
Total comprehensive income for the year	217,847	148,983
Earnings per share (undiluted) in euros	2	1	[11]
Earnings per share (diluted) in euros	2	1	[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.

Thousands of €	31.12.2024	31.12.2023	[Notes]
Current Assets
Cash and cash equivalents	205,733	268,041	[12]
Trade receivables	147,414	99,640	[13]. [23]
Inventories	1,019	978	[14]
Income tax receivables	21,006	18,998	[10]
Other financial assets	4,785	1,359	[14]. [23]
Other non-financial assets	33,697	29,197	[14]
Current assets, total	413,654	418,213
Non-current assets
Property, plant and equipment	22,075	23,735	[15]
Intangible assets	383,395	135,106	[16]
Goodwill	1,135,241	552,037	[16]
Right-of-use assets	60,700	60,922	[17]
Investments in associates	16,271	17,121	[18]
Deferred tax assets	36,923	33,850	[10]
Other financial assets	46,725	29,583	[14]. [23]
Other non-financial assets	21,327	3,765	[14]
Non-current assets, total	1,722,656	856,119
Total assets	2,136,310	1,274,332

Thousands of €	31.12.2024	31.12.2023	[Notes]
Current liabilities
Short-term borrowings and current portion of long-term loans	42	6,802	[19]. [23]
Trade payables	20,820	15,325	[19]. [23]
Provisions	41,144	34,835	[20]
Accrued liabilities	53,186	30,832	[20]
Deferred revenue	354,596	265,097	[1]
Income tax liabilities	16,570	11,993	[10]
Other financial liabilities	3,013	55	[19]. [23]
Lease liabilities	16,678	16,691	[19]. [23]
Other non-financial liabilities	29,572	18,986	[21]
Current liabilities, total	535,621	400,616
Non-current liabilities
Long-term borrowings without current portion	500,311	71	[19]. [23]
Deferred tax liabilities	52,998	16,746	[10]
Pensions and related obligations	4,051	3,580	[22]
Provisions	3,020	1,128	[20]
Deferred revenue	31,201	6,150	[1]
Income tax liabilities	10,075	9,161	[10]
Other financial liabilities	36	8	[19]. [23]
Lease liabilities	52,836	52,774	[19]. [23]
Other non-financial liabilities	1,783	2,200	[21]
Non-current liabilities, total	656,312	91,819
Equity
Subscribed capital	115,500	115,500	[24]. [25]
Capital reserve	12,485	12,485
Retained earnings	763,288	640,800
Other comprehensive income	15,190	(22,210)
Equity (Group shares)	906,463	746,575
Non-controlling interests	37,914	35,323
Equity, total	944,377	781,898
Total equity and liabilities	2,136,310	1,274,332

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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"

Thousands of €	2024	2023	[Notes]
Profit (before tax)	228,216	204,542
Depreciation and amortization of fixed assets	66,787	58,216
Net finance costs	5,365	(4,805)
Share of net profit of associates	643	(239)
EBITDA	301,010	257,713	[27]
Other non-cash transactions	7,292	1,181
Cash flow for the period	308,303	258,894	[27]
Change in trade working capital	47,778	49,431
Change in other working capital	12,712	(1,384)
Dividends received from associates	207	168
Financing effects
Interests received	4,596	3,335
Financing effects and tax cash flow
Income taxes received	4,314	2,385
Income taxes paid	(71,106)	(59,950)
Cash flow from operating activities	306,804	252,879	[27]
Capital expenditure	(13,726)	(12,677)
Changes in liabilities from acquisitions	0	(1,510)
Cash received from disposal of fixed assets	436	424
Cash paid for acquisition of subsidiaries, net of cash acquired	(680,802)	0
Cash paid for acquisition of equity instruments of other entities	(13,017)	(15,328)
Cash paid for acquisition of interests in associates	0	(8,755)
Cash flow from investing activities	(707,110)	(37,846)	[27]
Dividend payments	(55,440)	(51,975)
Dividend payments to non-controlling interests	(2,434)	(2,437)
Cash received from loans	931,000	18,510
Repayment of borrowings	(507,059)	(83,582)
Changes in bank liabilities due to company acquisitions
Principal elements of lease payments	(18,034)	(16,535)
Interests paid	(11,938)	(3,352)
Payments for acquisitions of non-controlling interests	(4,301)	0
Cash flow from financing activities	331,794	(139,371)	[27]
Changes in cash and cash equivalents	(68,511)	75,663
Effect of exchange rate differences on cash and cash equivalents	6,203	(4,443)
Cash and cash equivalents at the beginning of the period	268,041	196,821
Cash and cash equivalents at the end of the period	205,733	268,041	[12]

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