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Financial Highlights

Key Ratios

(thousand Euros)

Economic data20192018201720162015
Revenue1,182,5281,035,793884,434780,739705,601
Growth rate14.2%17.1%13.3%10.6%11.6%
Gross operating income (EBITDA)191,307144,836123,244106,41798,736
EBITDA margin16.2%14.0%13.9%13.6%14.0%
Operating income (EBIT)155,324132,410113,87399,59490,558
EBIT margin13.1%12.8%12.9%12.8%12.8%
Group net income113,85899,91377,87167,54456,748
Group net margin9.6%9.6%8.8%8.7%8.0%
Tax rate27.8%27.5%28.8%30.5%35.4%
FINANCIAL FIGURES20192018201720162015
Group shareholder's equity583,722485,297401,404337,017295,425
Non controlling interest3,3391,315668520653
Total assets1,307,9131,076,104871,154770,575700,745
Net working capital87,390145,288167,870160,404162,566
Cash flow202,793119,83573,20279,49744,334
DATA PER SINGLE SHARE (in euros)20192018201720162015
Net result per share3.042.672.081.811.51
Shareholders' equity per share15.6012.9710.739.007.90
OTHER INFORMATION20192018201720162015
Number of employees8,1577,6066,4566,0155,245

Income Statements

(thousand Euros)

CONSOLIDATED INCOME STATEMENTS20192018201720162015
Revenues1,182,5281,035,793884,434780,739705,601
Other income23,15914,99617,67219,57915,643
Purchases(21,250)(20,513)(15,269)(16,969)(14,049)
Personnel(578,263)(508,652)(431,555)(379,713)(349,721)
Services and other costs(414,077)(379,730)(329,924)(296,650)(256,137)
Amortization, depreciation and write-downs(37,239)(13,848)(12,353)(11,669)(9,371)
Other unusual (cost)/income4664,3648694,277(1,408)
Operating income155,324132,410113,87399,59490,558
(Loss)/gain on investments11,3646,862(585)(668)440
Financial income/(expenses)(5,268)(55)(2.978)(1,520)(2,067)
Income before taxes161,419139,217110,31097,40588,930
Income taxes(44,829)(38,230)(31,765)(29,698)(31,502)
Net income116,590100,98778,84567,70757,418
Not controlling interest(2,732)(1,075)(674)(163)(680)
Group net result113,85899,91377,87167,54456,748

Balance sheets

(thousand Euros)

Consolidated statement of financial position20192018201720162015
Tangible assets48,29844,45221,55217,68617,022
Goodwill267,542243,236166,132157,429133,376
Other intangible assets13,67614,20115,52517,0169,696
RoU Assets90,569----
Equity investments56,99147,51229,20114,1109,105
Financial assets7,5675,2556,3859,7395,629
Deferred tax assets33,52727,29924,66116,46617,339
Non-current assets518,170381,955263,457232,445192,167
Work in progress75,32877,06193,65158,65157,929
Trade receivables432,240434,389357,082339,194302,250
Other current assets39,56653,64245,72644,81040,973
Financial assets1,6669972,0422,9252,289
Cash and cash equivalents240,943128,060109,19592,550105,137
Current assets789,743694,149607,697538,130508,577
TOTAL ASSETS1,307,9131,076,104871,154770,575700,745
Share capital4,8634,8634,8634,8634,863
Other reserves465,000380,521318,670264,610233,814
Net result of the period113,85899,91377,87167,54456,748
Group shareholders' equity583,722485,297401,404337,017295,425
Non-controlling interest3,3391,315668520653
NET EQUITY587,061486,612402,072337,537296,079
Due to minority shareholders51,46845,29522,27524,55819,746
Financial liabilities26,85724,24714,10231,05133,869
Financial liabilities from RoU71,710----
Employee benefits43,35537,73831,83830,40125,866
Deferred tax liabilities19,81017,12818,53918,56321,471
Provisions8,8977,02113,63510,54518,849
Non-current liabilities222,098131,430100,388115,118119,801
Financial liabilities18,55738,25840,10535,67046,280
Financial liabilities from RoU20,454----
Trade payables119,951123,387100,15092,73577,686
Other current liabilities339,113296,109228,165189,144160,640
Provisions680308274371260
Current liabilities498,755458,061368,693317,921284,865
TOTAL LIABILITIES720,853589,492469,082433,038404,666
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES1,307,9131,076,104871,154770,575700,745

NET FINANCIAL POSITION AND CASH FLOW STATEMENT

(thousand Euros)

20192018201720162015
Short-term financial position203,59890,79971,13259,80561,146
M/L term financial position(98,567)(24,247)(14,102)(31,047)(32,960)
Total net financial position105,03166,55257,03028,75828,186

CASH AND CASH EQUIVALENTS20192018201720162015
Net cash flows from operating activities (A)202,793119,83573,20279,49744,334
Net cash flows from investment activities (B)(56,006)(94,179)(32,812)(67,909)(25,328)
Net cash flows from financing activities (C)(29,698)10,428(30,504)(5,186)357
Net cash flows (D)=(A+B+C)117,09036,0849,8876,40219,363
Cash and cash equivalents at period end239,571122,48186,39876,51170,109
Total change in cash and cash equivalents (D)117,09036,0849,8876,40219,363