Publications

Financial Figures

All important financial key figures compact and at a glance:

 in EUR million  Dec. 31, 2020   Dec. 31, 2019   Dec. 31, 2018   Dec. 31, 2017   Dec. 31, 2016  
  Operative figures               
  Revenues 596.9   556.9   461.3   395.6   337.3  
  - thereof software licenses 210.0   228.2   216.8   195.0   175.8  
  - thereof recurring revenues 359.0   299.5   225.8   183.9   146.5  
  - subscription (as part of the recurring revenues) 90.4   50.3   23.4   13.7   –  
  EBITDA 172.3   165.7   121.3   108.0   88.0  
  as % of revenue 28.9%   29.7%   26.3%   27.3%   26.1%  
  EBITA 149.3   143.7   112.5   99.9   80.7  
  as % of revenue 25.0%   25.8%   24.4%   25.3%   23.9%  
  EBIT 122.5   123.6   97.8   86.4   69.7  
  as % of revenue 20.5%   22.2%   21.2%   21.9%   20.7%  
  Net income (group shares) 96.9   127.2   76.5   74.7   46.9  
  per share in € 0.84   1.10   0.66   0.65   0.41  
  Net income ( group shares) adjusted for DocuWare effect 96.9   97.7   76.5   74.7   46.9  
  per share in € 0.84   0.85   0.66   0.65   0.41  
  Net income (group shares) before purchase price allocation 115.2   140.3   88.1   85.2   55.1  
  per share in € 1.00   1.21   0.76   0.74   0.48  
  Cash flow figures               
  Cash flow from operating activities 157.5   160.4   99.7   97.4   79.7  
  Cash flow from investing activities (111.0)   (83.8)   (74.4)   (54.6)   (47.5)  
  Cash flow from financing activities (109.1)   10.7   (10.4)   (44.8)   (5.5)  
  Free cash flow 46.5   76.6   25.4   42.8   32.1  
  Free cash flow before M&A investments 148.2   174.5   88.5   88.2   72.6  
  Balance sheet figures               
  Cash and cash equivalents 139.3   209.1   120.7   104.0   112.5  
  Net liquidity/net debt 9.0   21.0   (9.9)   24.0   16.3  
  Balance sheet total 889.7   857.2   580.6   460.8   454.7  
  Equity ratio in % 46.9%   40.7%   43.0%   49.5%   44.4%  
  Headcount as of balance sheet date 3,074   2,875   2,587   2,142   1,925  
  Share figures               
  Closing price (Xetra) in € 60.40   58.80   31.92   24.95   18.42  
  Market Capitalization 6,976.20   6,791.40   3,686.38   2,881.34   2,127.51  

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for the period from January 1 to Dezember 31, 2019 and 2020

 Thousands of €  2020   2019   [Notes]  
  Revenues 596,905   556,879   [1]  
  Other income 10,161   6,215   [2]  
  Operating income 607,066   563,095     
  Cost of goods and services (23,682)   (20,246)   [3]  
  Personnel expenses (267,065)   (239,427)   [4]  
  Depreciation of property, plant and equipment and amortization of intangible assets (49,778)   (42,052)   [5]  
  thereof amortization of intangible assets due to purchase price allocation (24,498)   (17,062)     
  Other expenses (144,027)   (137,757)   [6]  
  Operating expenses (484,552)   (439,483)     
  Operating result (EBIT) 122,515   123,611     
  Interest income 278   858   [7]  
  Interest expenses (2,979)   (3,165)   [7]  
  Other financial expenses/income (61)   1,907   [9]  
  Net finance costs (2,761)   (400)     
  Share of net profit of associates 274   531   [18]  
  Gain on disposal of shares in associates 0   29,927   [8]  
  Earnings before taxes (EBT) 120,027   153,669     
  Income taxes (22,334)   (26,415)   [10]  
  Net income for the year 97,693   127,254     
  Other comprehensive income:         
  Difference from currency translation (30,894)   3,173     
  Items of other comprehensive income that are reclassified subsequently to profit or loss (30,894)   3,173     
  Gains/losses from the revaluation of defined benefit pension plans (200)   (184)     
  Tax effect 57   55     
  Items of other comprehensive income that will not be reclassified to profit or loss (143)   (129)     
  Subtotal other comprehensive income (31,036)   3,044     
  Total comprehensive income for the year 66,657   130,298     
  Net profit or loss for the period attributable to:         
  Equity holders of the parent 96,947   127,155     
  Non-controlling interests 747   99     
  Net income for the year 97,693   127,254     
  Total comprehensive income for the year attributable to:         
  Equity holders of the parent 67,813   130,195     
  Non-controlling interests (1,156)   102     
  Total comprehensive income for the year 66,657   130,298     
  Earnings per share (undiluted) in euros 0.84   0,10   [11]  
  Earnings per share (diluted) in euros 0.84   0,10   [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, 2019 and as of December 31, 2020

 Thousands of €  31/12/2020   31/12/2019   [Notes]  
  Current Assets         
  Cash and cash equivalents 139,320   209,143   [12]  
  Trade receivables 64,571   62,046   [13]  
  Inventories 642   1,012   [14]  
  Income tax receivables 6,010   3,945   [10]  
  Other financial assets 1,624   1,089   [14], [23]  
  Other non-financial assets 24,204   18,267   [14]  
  Current assets, total 236,371   295,503     
  Non-current assets         
  Property, plant and equipment 21,628   27,620   [15]  
  Intangible assets 138,176   127,660   [16]  
  Goodwill 416,706   325,041   [16]  
  Right-of-use assets 61,328   66,163   [17]  
  Investments in associates 1,344   1,101   [18]  
  Deferred tax assets 7,465   6,250   [10]  
  Other financial assets 4,835   5,613   [14], [23]  
  Other non-financial assets 1,809   2,253   [14]  
  Non-current assets, total 653,290   561,701     
  Total assets 889,661   857,204     
 Thousands of €  31/12/2020   31/12/2019   [Notes]  
 Current liabilities          
 Short-term borrowings and current portion of long-term loans  59,601   58,623   [19], [23]  
 Trade payables  11,229   12,404   [19], [23]  
 Provisions and accrued liabilities  56,250   43,999   [20]  
 Deferred revenue  129,469   118,474   [1]  
 Income tax liabilities  9,253   10,967   [10]  
 Other financial liabilities  1,618   2,131   [19], [23]  
 Lease liabilities   13,369   12,589   [19], [23]  
 Other non-financial liabilities  15,023   12,455   [21]  
 Current liabilities, total  295,813   271,642     
 Non-current liabilities           
 Long-term borrowings without current portion  70,670   129,500   [19], [23]  
 Deferred tax liabilities  25,222   23,342   [10]  
 Pensions and related obligations  3,083   1,940   [22]  
 Provisions  4,153   3,235   [20]  
 Deferred revenue  2,406   3,711   [1]  
 Income tax liabilities  3,050   3,103   [10]  
 Other financial liabilities  8,731   7,085   [19], [23]  
 Lease liabilities   54,254   57,738   [19], [23]  
 Other non-financial liabilities  4,986   7,292   [21]  
 Non-current liabilities, total  176,556   236,946     
 Equity        [24]  
 Subscribed capital  115,500   115,500     
 Capital reserve   12,485   12,485     
 Retained earnings  315,341   230,924     
 Other comprehensive income  (39,408)   (10,396)     
 Equity (Group shares)  403,919   348,513     
 Non-controlling interests  13,373   103     
 Equity, total  417,292   348,616     
 Total equity and liabilities  889,661   857,204     

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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 2020

   2020   2019   [Notes]  
 Profit (before tax)  120,027   153,669     
 Depreciation and amortization of fixed assets  49,778   42,052     
 Net finance costs  2,761   400     
 Share of net profit of associates  (274)   (30,458)     
 EBITDA  172,293   165,663   [26]  
 Other non-cash transactions  5,202   (520)     
 Cash flow for the period  177,494   165,143   [26]  
 Change in trade working capital  6,816   15,900     
 Change in other working capital  9,246   4,964     
 Dividends received from associates  31   22     
 Interests received  208   829     
 Income taxes received  6,966   1,527     
 Income taxes paid  (43,270)   (28,010)     
 Cash flow from operating activities  157,490   160,375   [26]  
 Capital expenditure  (9,100)   (19,273)     
 Cash received from disposal of shares in associate  0   33,345     
 Changes in liabilities from acquisitions  (637)   0     
 Cash received from disposal of fixed assets  421   67     
 Cash paid for acquisition of subsidiaries, net of cash acquired  (101,689)   (97,921)     
 Cash flow from investing activities  (111,005)   (83,782)   [26]  
 Dividend payments  (32,340)   (31,185)     
 Dividend payments to non-controlling interests  (938)   (93)     
 Cash received from bank loans  6,850   0     
 Repayment of borrowings  (65,385)   (72,480)     
 Changes in bank liabilities due to company acquisitions  0   130,000     
 Principal elements of lease payments  (13,156)   (11,255)     
 Interests paid  (2,670)   (2,811)     
 Payments for acquisitions of non-controlling interests  (1,500)   (1,500)     
  Cash flow from financing activities (109,139)   10,676   [26]  
  Changes in cash and cash equivalents (62,653)   87,269     
  Effect of exchange rate differences on cash and cash equivalents (7,170)   1,126     
  Cash and cash equivalents at the beginning of the period 209,143   120,747     
  Cash and cash equivalents at the end of the period 139,320   209,143   [12]  

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