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INVESTORSFINANCIAL HIGHLIGHTS
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Financial Highlights

Key Ratios

(thousand Euros)

Economic data20212020201920182017
Revenue1,483,8031,250,1911,182,5281,035,793884,434
Growth rate18.7%5.7%14.2%17.1%13.3%
Gross operating income (EBITDA)262,784207,936191,307144,836123,244
EBITDA margin17.7%16.6%16.2%14.0%13.9%
Operating income (EBIT)209,283169,531155,324132,410113,873
EBIT margin14.1%13.6%13.1%12.8%12.9%
Group net income150,672123,598113,85899,91377,871
Group net margin10.2%9.9%9.6%9.6%8.8%
Tax rate28.5%23.4%27.8%27.5%28.8%
FINANCIAL FIGURES20212020201920182017
Group shareholder's equity815,895675,039583,722485,297401,404
Non controlling interest2,6259183,3391,315668
Total assets1,847,0201,506,5681,307,9131,076,104871,154
Net working capital(42,614)(21,565)74,317145,288167,870
Cash flow205,578229,028202,793119,83573,202
DATA PER SINGLE SHARE (in euros)20212020201920182017
Net result per share4.033.303.042.672.08
Shareholders' equity per share21.7418.0415.6012.9710.73
OTHER INFORMATION20212020201920182017
Number of employees10,5799,0598,1577,6066,456

Income Statements

(thousand Euros)

CONSOLIDATED INCOME STATEMENTS20212020201920182017
Revenues1,483,8031,250,1911,182,5281,035,793884,434
Other income17,63119,40523,15914,99617,672
Purchases(21,500)(21,510)(21,250)(20,513)(15,269)
Personnel(759,567)(621,362)(578,263)(508,652)(431,555)
Services and other costs(462,779)(419,235)(414,077)(379,730)(329,924)
Amortization, depreciation and write-downs(48,391)(42,441)(37,239)(13,848)(12,353)
Other unusual (cost)/income854,4844664,364869
Operating income209,283169,531155,324132,410113,873
(Loss)/gain on investments8,1641,24011,3646,862(585)
Financial income/(expenses)(4,168)(8,717)(5,268)(55)(2.978)
Income before taxes213,279162,054161,419139,217110,310
Income taxes(60,871)(37,848)(44,829)(38,230)(31,765)
Net income152,408124,206116,590100,98778,845
Not controlling interest(1,735)(608)(2,732)(1,075)(674)
Group net result150,672123,598113,85899,91377,871

Balance sheets

(thousand Euros)

Consolidated statement of financial position20212020201920182017
Tangible assets80,91951,78248,29844,45221,552
Goodwill474,188330,749267,542243,236166,132
Other intangible assets44.03625,75813,67614,20115,525
RoU Assets119,549137,64590,569--
Equity investments66,36156,42156,99147,51229,201
Financial assets8,5569,5777,5675,2556,385
Deferred tax assets68,88952,92133,52727,29924,661
Non-current assets862,429664,852518,170381,955263,457
Work in progress86,78779,78475,32877,06193,651
Trade receivables471,560344,700432,240434,389357,082
Other current assets65,40281,30639,56653,64245,726
Financial assets31,7912,1081,6669972,042
Cash and cash equivalents329,051333,819240,943128,060109,195
Current assets984,592841,716789,743694,149607,697
TOTAL ASSETS1,847,0201,506,5681,307,9131,076,104871,154
Share capital4,8634,8634,8634,8634,863
Other reserves657,733546,578465,000380,521318,670
Net result of the period150,672123,598113,85899,91377,871
Group shareholders' equity813,269675,039583,722485,297401,404
Non-controlling interest2,6259183,3391,315668
NET EQUITY815,895675,957587,061486,612402,072
Due to minority shareholders107,49353,01038,39545,29522,275
Financial liabilities23,31320,38726,85724,24714,102
Financial liabilities from RoU102,129118,79671,710--
Employee benefits48,60146,11243,35537,73831,838
Deferred tax liabilities24,11316,11719,81017,12818,539
Provisions16,92510,7538,8977,02113,635
Non-current liabilities322,573265,174209,025131,430100,388
Due to minority shareholders and earn-out22,06618,37013,073--
Financial liabilities15,68113,62918,55738,25840,105
Financial liabilities from RoU26,50824,45320,454--
Trade payables139,921114,149119,951123,387100,150
Other current liabilities502,990394,110339,113296,109228,165
Provisions1,387724680308274
Current liabilities708,552565,437511,828458,061368,693
TOTAL LIABILITIES1,031,126830,611720,853589,492469,082
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES1,847,0201,506,5681,307,9131,076,104871,154

NET FINANCIAL POSITION AND CASH FLOW STATEMENT

(thousand Euros)

20212020201920182017
Short-term financial position318,653297,844203,59890,79971,132
M/L term financial position(125.442)(139.183)(98,567)(24,247)(14,102)
Total net financial position193,212158,661105,03166,55257,030

CASH AND CASH EQUIVALENTS20212020201920182017
Net cash flows from operating activities (A)205,578229,028202,793119,83573,202
Net cash flows from investment activities (B)(160,092)(76,550)(56,006)(94,179)(32,812)
Net cash flows from financing activities (C)(65,305)(59,549)(29,698)10,428(30,504)
Net cash flows (D)=(A+B+C)(17,819)92,929117,09036,0849,887
Cash and cash equivalents at period end314,680332,500239,571122,48186,398
Total change in cash and cash equivalents (D)(17,819)92,929117,09036,0849,887