Publications

for the period from January 1 to December 31, 2022 and 2023

Thousands of €	2023	2022	[Notes]
Revenues	851,563	801,813	[1]
Other income	8,915	12,566	[2]
Operating income	860,478	814,379
Cost of goods and services	(33,864)	(31,785)	[3]
Personnel expenses	(360,872)	(337,219)	[4]
Depreciation of property, plant and equipment and amortization of intangible assets	(58,216)	(58,842)	[5]
thereof amortization of intangible assets due to purchase price allocation	(29,403)	(31,807)
Other expenses	(208,028)	(188,396)	[6]
Operating expenses	(660,980)	(616,242)
Operating result (EBIT)	199,498	(198,137)
Interest income	3,421	490	[7]
Interest expenses	(3,277)	(2,624)	[7]
Other financial expenses	(6,396)	(11,416)	[8]
Other financial income	11,057	14,862	[8]
Net finance income / costs	4,805	1,312
Share of net profit of associates	239	82	[9], [18]
Earnings before taxes (EBT)	204,542	199,530
Income taxes	(40,562)	(34,426)	[10]
Net income for the year	(163,980)	165,104
Other comprehensive income:
Difference from currency translation	(14,543)	10,396
Items of other comprehensive income that are reclassified subsequently to profit or loss	(14,543)	10,396
Gains/losses from the revaluation of defined benefit pension plans	(548)	1,098	[22]
Tax effect	95	(315)	[10]
Items of other comprehensive income that will not be reclassified to profit or loss	(453)	783
Subtotal other comprehensive income	(14,997)	11,179
Total comprehensive income for the year	148,983	176,283
Net profit or loss for the period attributable to:
Equity holders of the parent	161,256	161,899
Non-controlling interests	2,724	3,206
Net income for the year	163,980	165,104
Total comprehensive income for the year attributable to:
Equity holders of the parent	147,177	171,530
Non-controlling interests	1,807	4,753
Total comprehensive income for the year	148,983	176,283
Earnings per share (undiluted) in euros	1	1	[11]
Earnings per share (diluted) in euros	1	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.

as of December 31, 2022 and as of December 31, 2023

Thousands of €	31.12.2023	31.12.2022	[Notes]
Current Assets
Cash and cash equivalents	268,041	196,821	[12]
Trade receivables	99,640	84,520	[13], [23]
Inventories	978	890	[14]
Income tax receivables	18,998	11,289	[10]
Other financial assets	1,359	2,492	[14], [23]
Other non-financial assets	29,197	31,120	[14]
Current assets, total	418,213	327,132
Non-current assets
Property, plant and equipment	23,735	26,568	[15]
Intangible assets	135,106	171,703	[16]
Goodwill	552,037	557,047	[16]
Right-of-use assets	60,922	69,795	[17]
Investments in associates	17,121	4,010	[18]
Deferred tax assets	33,850	21,465	[10]
Other financial assets	29,583	18,377	[14], [23]
Other non-financial assets	3,765	2,031	[14]
Non-current assets, total	856,119	870,996
Total assets	1,274,332	1,198,128

Thousands of €	31.12.2023	31.12.2022	[Notes]
Current liabilities
Short-term borrowings and current portion of long-term loans	6,802	65,072	[19], [23]
Trade payables	15,325	15,712	[19], [23]
Provisions	34,835	40,219	[20]
Accrued liabilities	30,832	30,032	[20]
Deferred revenue	265,097	206,939	[1]
Income tax liabilities	11,993	10,660	[10]
Other financial liabilities	55	1,494	[19], [23]
Lease liabilities	16,691	14,854	[19], [23]
Other non-financial liabilities	18,986	18,858	[21]
Current liabilities, total	400,616	403,841
Non-current liabilities
Long-term borrowings without current portion	71	6,873	[19], [23]
Deferred tax liabilities	16,746	19,802	[10]
Pensions and related obligations	3,580	2,455	[22]
Provisions	1,128	1,582	[20]
Deferred revenue	6,150	2,631	[1]
Income tax liabilities	9,161	6,035	[10]
Other financial liabilities	8	390	[19], [23]
Lease liabilities	52,774	62,443	[19], [23]
Other non-financial liabilities	2,200	2,853	[21]
Non-current liabilities, total	91,819	105,065
Equity
Subscribed capital	115,500	115,500	[24], [25]
Capital reserve	12,485	12,485
Retained earnings	640,800	533,871
Other comprehensive income	(22,210)	(8,586)
Equity (Group shares)	746,575	653,270
Non-controlling interests	35,323	35,953
Equity, total	781,898	689,223
Total equity and liabilities	1,274,332	1,198,128

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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, 2022 and 2023

Thousands of €	2023	2022	[Notes]
Profit (before tax)	204,542	199,530
Depreciation and amortization of fixed assets	58,216	58,842
Net finance costs	(4,805)	(1,312)
Share of net profit of associates	(239)	(82)
EBITDA	257,713	256,979	[27]
Other non-cash transactions	1,181	1,508
Cash flow for the period	258,894	258,487	[27]
Change in trade working capital	49,431	26,681
Change in other working capital	(1,384)	(12,356)
Dividends received from associates	168	134
Financing effects
Interests received	3,335	486
Financing effects and tax cash flow
Income taxes received	2,385	2,942
Income taxes paid	(59,950)	(62,590)
Cash flow from operating activities	252,879	213,784	[27]
Capital expenditure	(12,677)	(19,028)
Changes in liabilities from acquisitions	(1,510)	(7,668)
Cash received from disposal of fixed assets	424	74
Cash paid for acquisition of subsidiaries, net of cash acquired	0	(20,990)
Cash paid for acquisition of equity instruments of other entities	(15,328)	(4,793)
Cash paid for acquisition of interests in associates	(8,755)	0
Cash flow from investing activities	(37,846)	(52,405)	[27]
Dividend payments	(51,975)	(45,045)
Dividend payments to non-controlling interests	(2,437)	(2,631)
Cash received from loans	18,510	40,800
Repayment of borrowings	(83,582)	(98,679)
Changes in bank liabilities due to company acquisitions
Principal elements of lease payments	(16,535)	(16,015)
Interests paid	(3,352)	(2,412)
Payments for acquisitions of non-controlling interests	0	0
Cash flow from financing activities	(139,371)	(123,982)	[27]
Changes in cash and cash equivalents	75,663	37,397
Effect of exchange rate differences on cash and cash equivalents	(4,443)	2,329
Cash and cash equivalents at the beginning of the period	196,821	157,095
Cash and cash equivalents at the end of the period	268,041	196,821	[12]

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