Consolidated data

Income statement
(in thousands of euros)

FY'16

Q1'17

Q2'17

Q3'17

FY'17

Q1'18

Net revenues

569,321

157,477

161,784

149,379

637,487

164,469

EBITDA

217,318

62,526

63,633

55,982

237,992

63,324

Margin

38.2%

39.7%

39.4%

37.5%

37.3%

38.5%

EBIT

172,611

49,987

51,169

43,469

184,420

50,740

Margin

30.3%

31.7%

31.6%

29.2%

30.6%

30.9%

Net profit

112,618

32,865

33,565

29,274

139,878

38,336

Statement of financial position
(in thousands of euros)

31/12/2016

31/03/2017

30/06/2017

30/09/2017

31/12/2017

31/03/2018

30/09/2017

Capital invested in non-current assets

473,235

466,578

444,569

475,356

460,482

499,905

475,356

Net invested capital

592,224

579,442

573,197

586,239

592,653

602,999

586,239

Net financial position

71,161

114,059

89,234

113,264

149,302

168,631

113,264

Shareholders’ equity

663,385

693,501

662,431

699,503

741,955

771,630

699,503

Cash flow statement
(in thousands of euros)

FY'16

Q1'17

Q2'17

Q3'17

FY'17

Q1'18

Net cash flow for the period

(81,710)

42,291

(64,800)

23,279

28,872

12,993

Free Cash Flow

132,210

43,617

17,426

36,483

132,052

27,818

Capital expenditures

37,426

8,415

9,998

13,056

42,482

10,700

 

 

 

Consolidated Income Statement

(in thousands of Euros) 2017 2016 2015 2014 2013 2012 2011 2010 2009
Net revenues 637,487 569,312 499,181 443,770 434,894 433,763 440,003 404,547 304,129
Cost of sales  (205,591) (180,160) (157,284) (145,032) (135,187) (136,420) (126,145) (119,812) (90,484)
Gross profit  431,896
389,152 341,897 298,738 299,662 297,343 313,858 284,735 213,645
Sales and marketing expenses  (123,184) (109,469) (98,047) (88,949) (85,605) (82,077) (77,992) (69,818) (56,949)
Research and development costs (43,627)  (37,718) (26,158) (24,994) (23,947) (23,393) (21,481) (19,332) (16,074)
General and administrative expenses (64,689)  (60,039) (55,494) (50,578) (49,676) (48,181) (45,938) (41,702) (32,384)
Other operating income (expenses) (15,976)  (9,315) (10,197) (4,326) (5,741) (3,433) (5,140) (8,366) (2,796)
(EBIT) 184,420  172,611 152,001 129,891 134,693 140,259 163,307 145,517 105,442
Net financial income (expense) (5,714)  (4,415) (1,899) (1,767) (5,354) (2,853) (5,051) (585) (2,705)
Profit before taxes

178,706

 168,196

150,102

128,124

129,339

137,406

158,256 144,932 102,737
Income taxes (38,820)  (55,578) (49,554) (44,050) (46,228) (49,722) (58,649) (54,514) (32,690)
Net profit 139,878  112,618 100.548 84,074 83,111 87,684 99,607 90,418 70,047
                   
EBITDA 237,922  217,318 184,985 160,290 163,098 169,558 190,020 
167,112  85,618

 

 

Consolidated Statement of Financial Position 

(in thousands of euros) 12/31/2017 12/31/2016 12/31/2015 12/31/2014 12/31/2013 12/31/2012 12/31/2011 12/31/2010
Property, plant and equipment  92,332 92,134 74,493 72,207 66,258 65,316 62,722 57,551
Goodwill  150,744 163,204 68,502 67,703 65,503 67,689 65,083 65,402
Other intangibles  13,606 193,882 49,404 49,247 53,911 57,587 56,850 61,462
Equity investments  27  27 219 506 498 177 27 27
Deferred-tax assets  22,171  22,989 20,198 22,194 20,872 21,291 20,119 19,656
Other non-current assets 1,602 

 999

758

2,884

1,860

881 568 544
Total non-current assets
460,482   473,235 213,574 214,741 208.902 212,942 205,369 204,642
                 
Inventories  142,802

 128,870

106,193

101,320

86,439

83,972 81,262 68,311
Trade receivables  128,822  120,261 105,609 109,521 117,442 113,788 116,617 106,411
Other financial assets  36,303  15,784 12,173 24,963 34 263 - 296
Other current assets  13,974  - 58,179 10,291 8,689 10,540 6,808 5,575
Cash and cash equivalents  159,340  130,468 212,178 144,855 105,110 104,599 64,145 62,392
Total current assets  481,241  395,383 494,332 390,950 317,714 313,162 268,832 242,985
 Assets held for sale  4,000              
TOTAL ASSETS  945,723  868,618 707,906 605,691 526,616 525,020 474,201 447,627

 

 (in thousands of euros) 12/31/2017 12/31/2016 12/31/2015 12/31/2014 12/31/2013 12/31/2012 12/31/2011 12/31/2010
 Share capital  55,948

55,948

55,948

55,948

55,948

55,863 55,698 55,000
 Additional paid-in capital  18,155 18,155 18,155 18,155 xxxx 55,863 13,744 13,684
 Statutory reserve  11,190 11,190 11,190 11,190 11,181 11,168 8,016 4,519
 Other reserves and retained earnings  538,429 503,166 426,560 358,364 290,523 242,281 218,995 151,622
 Treasury shares  (22,183) (38,025)  (25,459) (44,045) (44,882) (44,882) (44,882) -
 Net profit for the year  139,878 112,383  100,420 84,074 83,082 87,684 70,047 90,418
Other reserves and retained earnings Minority interest  538 568   344  204      99,607  
 Total shareholders’ equity  741,955 663,385  587,158 483,573 413,953 368,081 351,178 315,936
                 
 Long-term borrowings  102 27,293   210 423 xxxx 12,801 20,799

 Provisions for employee severance indemnities
 and other employee benefits

32,532 

33,202 31,334 32,106 26,199 21,589 20,948 20,692
 Deferred-tax liabilities 1,899  1,401 2,049 3,008 3,499 3,579 2,564 2,328
 Other non-current liabilities 28,115  11,454 4,925 4,677 4,727 3,417 6,206 5,179
 Total non-current liabilities 62,648  73,350 38,308 40,001 34,848 33,133 42,519 48,998
                 
 Trade payables 62,331   47,674 40,775 39,311 36,601 37,206 38,382 40,515
 Other current liabilities 49,689   41,870 32,837 30,573 26,303 24,572 22,314 23,544
 Liabilities to the shareholders for the dividend - - - - 45,080 - -
 Income taxes payable 5,190   10,325 6,384 8,967 7,977 8,882 10,111 9,812
 Current portion of long-term debt  - 2,300 3,007 6,752 8,066 8,552 8,822
 Other financial liabilities 23,910   32,014 144 259 - - 1,145 -
 Total current liabilities 141,120   131,883 82,440 82,117 77,633 123,806 80,504 82,693
                 
 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 945,723   868,618 707,906 xxx 526,616 525,020 474,201 447,627

 

 

Consolidated Statement of Cash Flows

(in thousands of euros) 2017 2016 2015 2014 2013 2012 2011 2010
Net profit for the year  139,878  112,618 100,548 84,074 83,111 87,684 99,607 90,418
Adjustments for:                
   - Income taxes 38,828 55,578 49,554 44,050 46,228 49,722 58,649 54,514
   - Depreciation and amortization 53,502  44,707  32,984 30,399 28,405 29,299 26,713 21,595
   - Financial expense (income) 5,714  4,415  1,899 1.767 5,354 2,853 5,051 585
   - Additions to/(Utilizations of) provisions for risks 5,114  4,405  2,329 390 557 (110) 2,871 4,726
   - (Gains)/Losses on sales of non-current assets (241)  201  171 174 129 185 186 149

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

909 

1,051  964 642 570 621 444 613
Changes in shareholders’ equity reserves:                
   - Stock options reserve 2,114 1,370  1.209 672 1,463 1,561 1,468 1,020
   - Currency translation reserve – operating activities (2,907)  3,580  2,892 2.375 (2,686) (1,134) 5,097 (1,230)
   - Change in other non-current assets/liabilities 402 (412) (1,946) (1.560) 897 (3,199) (1,861) (208)
Cash flow from operating activities before changes in working capital 243,313  227,513  190,604 162,983 164,028 167,482 198,225 172,182
                 
(Increase)/Decrease in current receivables (11,926)  (7,357)  4,891 8,937 (6,743) 1,218 (11,779) (28,908)
(Increase)/Decrease in inventories (14,454) (10,837) (3,289) (12,104) (4,698) (2,421) (13,388) (3,887)
Increase/(Decrease) in trade payables 15,685 6,568  (222) 2,210 (204) (967) (2,155) 8,610
(Increase)/Decrease in other current items (3,089) 2,741  (1,411) 4,225 1,112 1,698 1,810 5,057
Cash from operating activities 229,529  218,628  190,573 166,251 153,495 167,010 172,713 153,054
                 
Income taxes paid (59,499) (51,534) (51,923) (46,047) (44,087) (54,141) (62,469) (55,598)
Interest paid (2,590) (1,497) (201) (357) (1,691) (2,287) (1,666) (1,665)
Net cash from operating activities 167,440  165,597  138,449 119,847 107,717 110,582 108,578 95,791
                 
Investments in intangibles (9,211) (7,401) (4,875) (2,617) (4,017) (4,377) (2,216) (4,961)
Investments in property, plant and equipment (33,271) (30,025) (27,173) (28,099) (28,080) (28,473) (26,717) (23,420)
Divestments of property, plant and equipment 1,679 2,165 (816) 2,750 1,408 1,225
Investments in other intangibles 4,504 2,542 (112) (340) 1,967  (150)  - -
Cash used in regular investing activities (37,978) (34,884) (30,481) (28,891) (29,946) (30,250) (27,525) (27,156)
                 
Acquisitions of subsidiaries and business operations (31,544)  (263,587)   - 27 (7,600)  - (46,237)
Cash used in investing activities (69,522) (298,471) (30,481) (28,891) (20,919) (37,850) (27,525) (73,393)
                 
Repayments of loans (26,203) 47,637 (379) (4,072) (5,261) (8,445) (8,285) (8,473)
Proceeds from new borrowings (13,490)  57,028  - - -  -  - -
(Redemptions)/Collections of other financial obligations - -  (209) (533) -
(Power) / Redemptions term deposits () - (30,000)  (21,758)       
Capital increase/Dividend distribution - - - - (70,362) (22,583) (21,914) (1,130)
(Purchases)/Sales of treasury shares 19,702  (12,824)  17,949 626 - - (44,882) (2,548)
Dividends distribution (43,807) (35,719) (32,936)  (29,919)         
Foreign exchange translation differences

(5,248) 

(4,958)  7,207 3,912 (1,664) (1,041 (3,686) 4,260
Cash used in financing activities (23,624) (51,164) (38,159) (51,211) (77,287) (32,278) (79,300) (7,891)
                 
Cash contributed by the Biotrin Group    -  - - -  -  - -
                 
Change in net cash and cash equivalents  28,872  (81,710) 67,323 39,745 511 40,454 31,095 14,507
                 
CASH AND CASH EQUIVALENTS AT JANUARY 1 130,468  212,178  144,855 105,110 104,599 64,145 16,790 47,885
CASH AND CASH EQUIVALENTS AT DECEMBER 31 159,340  130,468  212,178 144,855 105,110 104,599 47,885 62,392