Consolidated data

Income statement
(in thousands of euros)

Q3'15

FY'15

Q1'16

Q2'16

Q3'16

FY'16

Q1'17

Net revenues

123,232

499,181

124,505

141,723

147,047

569,312

157,477

EBITDA

45,026

184,985

47,223

55,049

56,080

217,318

62,526

Margin

36.5%

37.1%

37.9%

38.8%

38.1%

38.2%

39.7%

EBIT

36,615

152,001

38,165

44,043

43,662

172,611

49,987

Margin

29.7%

30,5%

30,7%

31,1%

29.7%

30.3%

31.7%

Net profit

23,230

100,548

24,682

29,351

28,660

112,618

32,865

Statement of financial position
(in thousands of euros)

30/09/2015

31/12/2015

31/03/2016

30/06/2016

30/9/2016

31/12/2016

31/03/2017

Capital invested in non-current assets

212,671

213,574

208,471

459,992

452,886

473,235

466,578

Net invested capital

320,314

319,245

312,164

583,023

572,750

592,224

579,442

Net financial position

231,868

267,913

289,834

5,923

44,013

71,161

114,059

Shareholders’ equity

552,182

587,158

601,998

588,946

616,763

663,385

693,501

Cash flow statement
(in thousands of euros)

Q3'15

FY'15

Q1'16

Q2'16

Q3'16

FY'16

Q1'17

Net cash flow for the period

34,883

67,323

79,958

(218,918)

37,463

(81,710)

42,291

Free Cash Flow

35,454

108,169

28,405

25,514

43,321

132,210

43,617

Capital expenditures

5,871

32,048

6,054

8,999

7,022

37,426

8,415

 

 

 

Consolidated Income Statement

(in thousands of Euros) 2016 2015 2014 2013 2012 2011 2010 2009 2008
Net revenues 569,312 499,181 443,770 434,894 433,763 440,003 404,547 304,129 244,612
Cost of sales (180,160) (157,284) (145,032) (135,187) (136,420) (126,145) (119,812) (90,484) (84,010)
Gross profit 389,152 341,897 298,738 299,662 297,343 313,858 284,735 213,645 160,602
Sales and marketing expenses (109,469) (98,047) (88,949) (85,605) (82,077) (77,992) (69,818) (56,949) (47,478)
Research and development costs (37,718) (26,158) (24,994) (23,947) (23,393) (21,481) (19,332) (16,074) (13,835)
General and administrative expenses (60,039) (55,494) (50,578) (49,676) (48,181) (45,938) (41,702) (32,384) (27,111)
Other operating income (expenses) (9,315) (10,197) (4,326) (5,741) (3,433) (5,140) (8,366) (2,796) (1,388)
(EBIT) 172,611 152,001 129,891 134,693 140,259 163,307 145,517 105,442 70,790
Net financial income (expense) (4,415) (1,899) (1,767) (5,354) (2,853) (5,051) (585) (2,705) (10,903)
Profit before taxes

168,196

150,102

128,124

129,339

137,406

158,256

144,932 102,737 59,887
Income taxes (55,578) (49,554) (44,050) (46,228) (49,722) (58,649) (54,514) (32,690) (22,428)
Net profit 112,618 100.548 84,074 83,111 87,684 99,607 90,418 70,047 37,459
                   
EBITDA 217,318 184,985 160,290 163,098 169,558 190,020 167,112
122,640 85,618

 

 

Consolidated Statement of Financial Position 

(in thousands of euros) 12/31/2015 12/31/2014 12/31/2013 12/31/2012 12/31/2011 12/31/2010 12/31/2009 12/31/2008
Property, plant and equipment 74,493 72,207 66,258 65,316 62,722 57,551 41,963 35,446
Goodwill 68,502 67,703 65,503 67,689 65,083 65,402 59,333 59,892
Other intangibles 49,404 49,247 53,911 57,587 56,850 61,462 36,673 33,413
Equity investments 219 506 498 177 27 27 123 276
Deferred-tax assets 20,198 22,194 20,872 21,291 20,119 19,656 18,910 9,844
Other non-current assets 758

2,884

1,860

881

568

544 462 273
Total non-current assets
213,574 214,741 208.902 212,942 205,369 204,642 157,464 139,144
                 
Inventories 106,193

101,320

86,439

83,972

81,262

68,311 50,331 41,443
Trade receivables 105,609 109,521 117,442 113,788 116,617 106,411 75,868 62,708
Other financial assets 12,173 24,963 34 263 - 296 - -
Other current assets 58,179 10,291 8,689 10,540 6,808 5,575 5,359 4,632
Cash and cash equivalents 212,178 144,855 105,110 104,599 64,145 62,392 47,885 16,790
Total current assets 494,332 390,950 317,714 313,162 268,832 242,985 179,443 125,573
                 
TOTAL ASSETS 707,906 605,691 526,616 525,020 474,201 447,627 336,907 264,717

 

 (in thousands of euros) 12/31/2015 12/31/2014 12/31/2013 12/31/2012 12/31/2011 12/31/2010 12/31/2009 12/31/2008
 Share capital 55,948

55,948

55,948

55,863

55,698

55,693 55,000 55,000
 Additional paid-in capital 18,155 18,155 18,155 15,967 13,744 13,684 5,925 5,925
 Statutory reserve 11,190 11,190 11,181 11,168 8,016 4,519 2,427 1,140
 Other reserves and retained earnings 426,560 358,364 290,523 242,281 218,995 151,622 84,456 54,623
 Treasury shares (25,459) (44,045) (44,882) (44,882) (44,882) - - -
 Net profit for the year 100,420 84,074 83,082 87,684 99,607 90,418 70,047 37,459
Other reserves and retained earnings Minority interest 344 204            
 Total shareholders’ equity 587,158 483,573 413,953 368,081 351,178 315,936 217,855 154,147
                 
 Long-term borrowings - 210 423 4,548 12,801 20,799 27,862 31,238

 Provisions for employee severance indemnities
 and other employee benefits

31,334

32,106 26,199 21,589 20,948 20,692 19,837 19,306
 Deferred-tax liabilities 2,049 3,008 3,499 3,579 2,564 2,328 2,492 1,997
 Other non-current liabilities 4,925 4,677 4,727 3,417 6,206 5,179 3,019 1,594
 Total non-current liabilities 38,308 40,001 34,848 33,133 42,519 48,998 53,210 54,135
                 
 Trade payables 40,775 39,311 36,601 37,206 38,382 40,515 29,778 28,780
 Other current liabilities 32,837 30,573 26,303 24,572 22,314 23,544 17,370 16,166
 Liabilities to the shareholders for the dividend - - - 45,080 - - - -
 Income taxes payable 6,384 8,967 7,977 8,882 10,111 9,812 9,902 6,174
 Current portion of long-term debt 2,300 3,007 6,752 8,066 8,552 8,822 8,792 5,315
 Other financial liabilities 144 259 - - 1,145 - - -
 Total current liabilities 82,440 82,117 77,633 123,806 80,504 82,693 65,842 56,435
                 
 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 707,906 605,691 526,616 525,020 474,201 447,627 336,907 264,717

 

 

Consolidated Statement of Cash Flows

(in thousands of euros) 2015 2014 2013 2012 2011 2010 2009 2008
Net profit for the year 100,548 84,074 83,111 87,684 99,607 90,418 70,047 37,459
Adjustments for:                
   - Income taxes 49,554 44,050 46,228 49,722 58,649 54,514 32,690 22,428
   - Depreciation and amortization 32,984 30,399 28,405 29,299 26,713 21,595 17,198 14,828
   - Financial expense (income) 1,899 1,767 5,354 2,853 5,051 585 2,705 10,903
   - Additions to/(Utilizations of) provisions for risks 2,329 390 557 (110) 2,871 4,726 715 276
   - (Gains)/Losses on sales of non-current assets 171 174 129 185 186 149 218 115

   - Additions to/(Reversals of) provisions for employee severance indemnities and other benefits

964

642 570 621 444 613 247 387
Changes in shareholders’ equity reserves:                
   - Stock options reserve 1,209 672 1,463 1,561 1,468 1,020 756 592
   - Currency translation reserve – operating activities 2,892 2,375 (2,686) (1,134) 5,097 (1,230) (231) 678
   - Change in other non-current assets/liabilities (1,946) (1,560) 897 (3,199) (1,861) (208) (498) (1,439)
Cash flow from operating activities before changes in working capital 190,604 162,983 164,028 167,482 198,225 172,182 123,847 86,227
                 
(Increase)/Decrease in current receivables 4,891 8,937 (6,743) 1,218 (11,779) (28,908) (12,283) (9,685)
(Increase)/Decrease in inventories (3,289) (12,104) (4,698) (2,421) (13,388) (3,887) (8,863) (4,856)
Increase/(Decrease) in trade payables (222) 2,210 (204) (967) (2,155) 8,610 734 1,174
(Increase)/Decrease in other current items (1,411) 4,225 1,112 1,698 1,810 5,057 642 (83)
Cash from operating activities 190,573 166,251 153,495 167,010 172,713 153,054 104,077 72,777
                 
Income taxes paid (51,923) (46,047) (44,087) (54,141) (62,469) (55,598) (37,723) (21,767)
Interest paid (201) (357) (1,691) (2,287) (1,666) (1,665) (2,135) (3,231)
Net cash from operating activities 138,449 119,847 107,717 110,582 108,578 95,791 64,219 47,779
                 
Investments in intangibles (4,875) (2,617) (4,017) (4,377) (2,216) (4,961) (7,387) (4,596)
Investments in property, plant and equipment (27,173) (28,099) (28,080) (28,473) (26,717) (23,420) (20,149) (14,523)
Divestments of property, plant and equipment 1,679 2,165 (816) 2,750 1,408 1,225 744 847
Investments in other intangibles (112) (340) 1,967 (150) -  -  - (153)
Cash used in regular investing activities (30,481) (28,891) (29,946) (30,250) (27,525) (27,156) (26,792) (18,425)
                 
Acquisitions of subsidiaries and business operations   - 27 (7,600) - (46,237)  - (22,420)
Cash used in investing activities (30,481) (28,891) (20,919) (37,850) (27,525) (73,393) (26,792) (40,845)
                 
Repayments of loans (379) (4,072) (5,261) (8,445) (8,285) (8,473) (4,131) (27,154)
Proceeds from new borrowings     - - -  -  - 35,483
(Redemptions)/Collections of other financial obligations       (209) (533)  - 6,897 (1,163)
(Power) / Redemptions term deposits (30,000) (21,758)            
Capital increase/Dividend distribution - - (70,362) (22,583) (21,914) (1,130) (1,865) (5,500)
(Purchases)/Sales of treasury shares 17.949 626 - - (44,882) (2,548) (6,600) -
Dividends distribution (32,936) (29,919)            
Foreign exchange translation differences 7,207 3,912 (1,664) (1,041) (3,686) 4,260 (633) (1,404)
Cash used in financing activities (38,159) (51,211) (77,287) (32,278) (79,300) (7,891) (6,332) 262
                 
Cash contributed by the Biotrin Group       - -  -  - 1,227
                 
Change in net cash and cash equivalents 67,323 39,745 511 40,454 1,753 14,507 31,095 8,423
                 
CASH AND CASH EQUIVALENTS AT JANUARY 1 144,855 105,110 104,599 64,145 62,392 47,885 16,790 8,367
CASH AND CASH EQUIVALENTS AT DECEMBER 31 212,178 144,855 105,110 104,599 64,145 62,392 47,885 16,790