Financial information

Key financial data

updated on 15.02.2024

Five year history

Consolidated statement of comprehensive income

The notes are an integral part of the Financial Statements.
EUR 1,000	Jan 1 - Dec 31, 2023	Jan 1 - Dec 31, 2022
Revenue	359,951	350,170
Other operating income	1,742	2,826
Materials and services	-43,320	-40,395
Employee benefits expenses	-233,736	-227,823
Other operating expenses	-40,259	-36,140
Depreciation and amortization	-18,839	-20,018
Operating profit (EBIT)	25,540 (7.1%)	28,622 (11.1%)
Financial income	803	1,044
Financial expenses	-5,537	-7,280
Profit before taxes	20,805	22,386
Income taxes	-4,158	-4,235
Profit for the financial year	16,647	18,151
Other comprehensive income, that may be reclassified to profit or loss
Currency translation differences	787	-4,229
Other comprehensive income, that will not be reclassified to profit or loss
Change in fair value of equity investments at fair value through other comprehensive income	-30	-31
Remeasurement of defined benefit plan	-157	1,359
Other comprehensive income for the year, net of tax	599	-2,900
Total comprehensive income for the year	17,246	15,251
Profit for the financial year attributable to
Equity holders of the parent company	16,647	18,151
Total comprehensive income attributable to
Equity holders of the parent company	17,246	15,251
Earnings per share calculated from the profit attributable to equity holders of the parent company
Basic earnings per share, EUR	0.66	0.73
Diluted earnings per share, EUR	0.66	0.73

Consolidated statement of financial position

The notes are an integral part of the financial statements.
EUR 1,000
ASSETS	Dec 31, 2023	Dec 31, 2022
Non-current assets
Goodwill	109,737	105,385
Other intangible assets	30,250	32,745
Tangible assets	24,038	24,808
Investments at fair value through other comprehensive income	2,376	2,414
Other non-current receivables	973	1,016
Deferred tax assets	250	622
Non-current assets, total	167,624	166,990

Current assets
Inventory	806	635
Work in progress	30,662	30,181
Trade and other receivables	61,148	62,405
Current tax assets	933	1,364
Cash and cash equivalents	23,442	19,564
Current assets, total	116,991	114,149
TOTAL ASSETS	284,615	281,138

EQUITY AND LIABILITIES
Equity
Share capital	5,000	5,000
Share premium account	6,701	6,701
Unrestricted equity fund	23,966	23,966
Own shares	-1,719	-1,059
Cumulative translation adjustment	-6,915	-7,702
Other reserves	73	103
Retained earnings	86,984	79,302
Equity, total	114,091	106,311

Non-current liabilities
Deferred tax liabilities	9,550	9,758
Loans from financial institutions	40,167	47,852
Lease liabilities	8,560	8,478
Defined benefit pension liability	5,069	4,897
Other non-current liabilities	526	33
Non-current liabilities, total	63,873	71,018

Current liabilities
Loans from financial institutions	25,012	21,139
Lease liabilities	12,843	13,114
Advances received	5,818	2,856
Trade and other payables	60,849	63,532
Current income tax liabilities	2,128	3,168
Current liabilities, total	106,651	103,809
Liabilities, total	170,524	174,828
TOTAL EQUITY AND LIABILITIES	284,615	281,138

Consolidated statement of cash flows

The notes are an integral part of the financial statements
EUR 1,000	Jan 1 - Dec 31, 2023	Jan 1 - Dec 31, 2022
OPERATING CASH FLOW
Cash receipts from customers	366,970	341,201
Operating expenses paid	-322,517	-306,220
Operating cash flow before financial items and taxes	44,454	34,981

Interest and payment paid for financial expenses	-4,540	-1,721
Interest received	496	113
Income taxes paid	-4,839	-5,277
Operating cash flow (A)	35,571	28,095

INVESTING CASH FLOW
Purchase of tangible and intangible assets	-2,067	-1,711
Acquisition of subsidiaries, net of cash acquired	-5,496	-20,871
Purchase of investments	0	-2,033
Proceeds from sale of tangible and intangible assets	675	52
Loans granted	0	-963
Investing cash flow (B)	-6,888	-25,526

Cash flow after investments (A+B)	28,683	2,570

FINANCING CASH FLOW
Purchase of own shares	-486	0
Proceeds from current loans	83	13,144
Repayments of current loans	-32,297	-32,534
Proceeds from non-current loans	28,500	27,999
Repayments of non-current loans	-35	-16
Payment of lease liabilities	-11,576	-12,657
Dividend paid	-9,015	-9,970
Financing cash flow (C)	-24,826	-14,034

Variation in cash (A+B+C) increase (+) / decrease (-)	3,857	-11,464

Assets at the beginning of the financial period	19,564	30,356
Exchange gains or losses on cash and cash equivalents	21	672
Assets at the end of the financial period	23,442	19,564

EUR 1,000
Financial period Jan 1 - Dec 31	2023	2022	2021	2020	2019
Revenue	359,951	350,170	300,111	259,702	263,292
Change in revenue, %	2.8	16.7	15.6	-1.4	11.3
Operating profit (EBITA)	30,883	33,915	30,139	26,172	25,964
% of revenue	8.6	9.7	10.0	10.1	9.9
Operating profit (EBIT)	25,540	28,622	25,754	22,380	22,819
% of revenue	7.1	8.2	8.6	8.6	8.7
Profit before taxes	20,805	22,386	24,867	21,080	21,924
% of revenue	5.8	6.4	8.3	8.1	8.3
Profit for the financial year	16,647	18,151	20,044	17,077	17,387
Return on equity, %	15.1	17.7	21.6	20.8	24.1
ROCE, %	13.3	15.9	16.0	16.0	19.9
Equity ratio, %	40.9	38.2	39.7	40.5	38.9
Gross investments	21,077	40,940	30,582	29,697	36,908
% of revenue	5.9	11.7	10.2	11.4	14.0
Net gearing, %	55.3	66.8	48.6	46.6	52.6
Personnel, average	3,949	3,936	3,480	3,320	3,305
Personnel at year end	3,902	3,929	3,629	3,267	3,447
Employee benefits expenses	233,736	227,823	197,596	177,301	172,520