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PSI Software AG
Buy, Hold or Sell?

Let's analyse Psi together

PenkeI guess you are interested in PSI Software AG. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of PSI Software AG. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Psi (30 sec.)










What can you expect buying and holding a share of Psi? (30 sec.)

How much money do you get?

How much money do you get?
€1.74
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
€7.63
Expected worth in 1 year
€8.87
How sure are you?
90.0%

+ What do you gain per year?

Total Gains per Share
€2.85
Return On Investment
12.1%

For what price can you sell your share?

Current Price per Share
€23.50
Expected price per share
€22.50 - €26.00
How sure are you?
50%

1. Valuation of Psi (5 min.)




Live pricePrice per Share (EOD)

€23.50

Intrinsic Value Per Share

€-5.98 - €7.15

Total Value Per Share

€1.64 - €14.78

2. Growth of Psi (5 min.)




Is Psi growing?

Current yearPrevious yearGrowGrow %
How rich?$129.1m$124.4m$4.6m3.6%

How much money is Psi making?

Current yearPrevious yearGrowGrow %
Making money$18.1m$17.1m$985.1k5.4%
Net Profit Margin6.8%6.4%--

How much money comes from the company's main activities?

3. Financial Health of Psi (5 min.)




What can you expect buying and holding a share of Psi? (5 min.)

Welcome investor! Psi's management wants to use your money to grow the business. In return you get a share of Psi.

What can you expect buying and holding a share of Psi?

First you should know what it really means to hold a share of Psi. And how you can make/lose money.

Speculation

The Price per Share of Psi is €23.50. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Psi.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Psi, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is €7.63. Based on the TTM, the Book Value Change Per Share is €0.31 per quarter. Based on the YOY, the Book Value Change Per Share is €0.92 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is €0.40 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Psi.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps0.672.9%0.672.9%1.104.7%0.843.6%0.632.7%
Usd Book Value Change Per Share0.341.4%0.341.4%1.004.2%0.542.3%0.321.4%
Usd Dividend Per Share0.441.9%0.441.9%0.331.4%0.271.1%0.251.0%
Usd Total Gains Per Share0.773.3%0.773.3%1.325.6%0.813.4%0.562.4%
Usd Price Per Share24.36-24.36-50.24-28.12-21.55-
Price to Earnings Ratio36.14-36.14-45.84-33.04-86.32-
Price-to-Total Gains Ratio31.53-31.53-37.98-36.17-22.40-
Price to Book Ratio2.94-2.94-6.33-3.87-3.41-
Price-to-Total Gains Ratio31.53-31.53-37.98-36.17-22.40-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share25.4975
Number of shares39
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.440.27
Usd Book Value Change Per Share0.340.54
Usd Total Gains Per Share0.770.81
Gains per Quarter (39 shares)30.1331.53
Gains per Year (39 shares)120.53126.11
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
168531114284116
213610523283169242
3204158353125253368
4272210474167338494
5340263595208422620
6408316716250507746
7476368837292591872
8544421958333675998
961147310793757601124
1067952612004178441250

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%16.02.02.080.0%
Book Value Change Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%9.01.00.090.0%18.02.00.090.0%
Dividend per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%13.00.07.065.0%
Total Gains per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%9.01.00.090.0%18.02.00.090.0%

Fundamentals of Psi

About PSI Software AG

PSI Software SE develops and sells software systems and products for the energy supply, production, infrastructure, software technology, internet applications, and business consultancy sectors worldwide. The company operates through two segments, Energy Management and Production Management. The Energy Management segment provides intelligent solutions for power grids and sector coupling, gas grids and pipelines, trading and sales of energy solutions, public transportation, road traffic, airport logistics. It develops control systems for electrical grids, cross-sector control systems, and gas and pipeline management systems; and products for energy trading, energy distribution, smart grids, power plant optimization, public transport system, and gas industry planning. The Production Management segment offers software products and solutions for planning and controlling production processes in metals production, logistics, mechanical engineering, and automotive manufacturing. The company also offers a range of data processing services; sells electronic equipment; and operates data processing systems. PSI Software SE was founded in 1969 and is headquartered in Berlin, Germany.

Fundamental data was last updated by Penke on 2024-05-25 10:17:03.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of PSI Software AG.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Psi earns for each €1 of revenue.

  • Above 10% is considered healthy but always compare Psi to the Software - Application industry mean.
  • A Net Profit Margin of 6.8% means that €0.07 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of PSI Software AG:

  • The MRQ is 6.8%. The company is making a profit. +1
  • The TTM is 6.8%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ6.8%TTM6.8%0.0%
TTM6.8%YOY6.4%+0.4%
TTM6.8%5Y5.9%+0.9%
5Y5.9%10Y4.6%+1.3%
1.1.2. Return on Assets

Shows how efficient Psi is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Psi to the Software - Application industry mean.
  • 6.1% Return on Assets means that Psi generated €0.06 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of PSI Software AG:

  • The MRQ is 6.1%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 6.1%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ6.1%TTM6.1%0.0%
TTM6.1%YOY5.6%+0.6%
TTM6.1%5Y5.3%+0.8%
5Y5.3%10Y4.2%+1.1%
1.1.3. Return on Equity

Shows how efficient Psi is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Psi to the Software - Application industry mean.
  • 14.1% Return on Equity means Psi generated €0.14 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of PSI Software AG:

  • The MRQ is 14.1%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 14.1%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ14.1%TTM14.1%0.0%
TTM14.1%YOY13.8%+0.3%
TTM14.1%5Y13.1%+1.0%
5Y13.1%10Y10.5%+2.5%

1.2. Operating Efficiency of PSI Software AG.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Psi is operating .

  • Measures how much profit Psi makes for each €1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Psi to the Software - Application industry mean.
  • An Operating Margin of 8.1% means the company generated €0.08  for each €1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of PSI Software AG:

  • The MRQ is 8.1%. The company is operating less efficient.
  • The TTM is 8.1%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ8.1%TTM8.1%0.0%
TTM8.1%YOY9.6%-1.4%
TTM8.1%5Y8.0%+0.1%
5Y8.0%10Y6.8%+1.3%
1.2.2. Operating Ratio

Measures how efficient Psi is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Software - Application industry mean).
  • An Operation Ratio of 0.93 means that the operating costs are €0.93 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of PSI Software AG:

  • The MRQ is 0.930. The company is less efficient in keeping operating costs low.
  • The TTM is 0.930. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.930TTM0.9300.000
TTM0.930YOY0.904+0.026
TTM0.9305Y0.926+0.004
5Y0.92610Y0.942-0.016

1.3. Liquidity of PSI Software AG.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Psi is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Software - Application industry mean).
  • A Current Ratio of 1.79 means the company has €1.79 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of PSI Software AG:

  • The MRQ is 1.794. The company is able to pay all its short-term debts. +1
  • The TTM is 1.794. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.794TTM1.7940.000
TTM1.794YOY1.969-0.175
TTM1.7945Y1.899-0.105
5Y1.89910Y1.791+0.108
1.3.2. Quick Ratio

Measures if Psi is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Psi to the Software - Application industry mean.
  • A Quick Ratio of 1.67 means the company can pay off €1.67 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of PSI Software AG:

  • The MRQ is 1.674. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 1.674. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ1.674TTM1.6740.000
TTM1.674YOY1.853-0.180
TTM1.6745Y1.790-0.116
5Y1.79010Y1.702+0.089

1.4. Solvency of PSI Software AG.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Psi assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Psi to Software - Application industry mean.
  • A Debt to Asset Ratio of 0.56 means that Psi assets are financed with 56.3% credit (debt) and the remaining percentage (100% - 56.3%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of PSI Software AG:

  • The MRQ is 0.563. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.563. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.563TTM0.5630.000
TTM0.563YOY0.596-0.033
TTM0.5635Y0.596-0.032
5Y0.59610Y0.609-0.013
1.4.2. Debt to Equity Ratio

Measures if Psi is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Psi to the Software - Application industry mean.
  • A Debt to Equity ratio of 129.0% means that company has €1.29 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of PSI Software AG:

  • The MRQ is 1.290. The company is able to pay all its debts with equity. +1
  • The TTM is 1.290. The company is able to pay all its debts with equity. +1
Trends
Current periodCompared to+/- 
MRQ1.290TTM1.2900.000
TTM1.290YOY1.477-0.187
TTM1.2905Y1.479-0.189
5Y1.47910Y1.565-0.086

2. Market Valuation of PSI Software AG

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every €1 in earnings Psi generates.

  • Above 15 is considered overpriced but always compare Psi to the Software - Application industry mean.
  • A PE ratio of 36.14 means the investor is paying €36.14 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of PSI Software AG:

  • The EOD is 37.832. Based on the earnings, the company is overpriced. -1
  • The MRQ is 36.141. Based on the earnings, the company is overpriced. -1
  • The TTM is 36.141. Based on the earnings, the company is overpriced. -1
Trends
Current periodCompared to+/- 
EOD37.832MRQ36.141+1.690
MRQ36.141TTM36.1410.000
TTM36.141YOY45.835-9.694
TTM36.1415Y33.038+3.104
5Y33.03810Y86.320-53.283
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of PSI Software AG:

  • The EOD is -52.791. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -50.433. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -50.433. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-52.791MRQ-50.433-2.359
MRQ-50.433TTM-50.4330.000
TTM-50.433YOY21.760-72.193
TTM-50.4335Y12.100-62.532
5Y12.10010Y-2.517+14.617
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Psi is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Software - Application industry mean).
  • A PB ratio of 2.94 means the investor is paying €2.94 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of PSI Software AG:

  • The EOD is 3.081. Based on the equity, the company is fair priced.
  • The MRQ is 2.943. Based on the equity, the company is underpriced. +1
  • The TTM is 2.943. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD3.081MRQ2.943+0.138
MRQ2.943TTM2.9430.000
TTM2.943YOY6.328-3.384
TTM2.9435Y3.872-0.929
5Y3.87210Y3.413+0.458
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of PSI Software AG compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.3110.3110%0.919-66%0.499-38%0.293+6%
Book Value Per Share--7.6287.6280%7.317+4%6.582+16%5.620+36%
Current Ratio--1.7941.7940%1.969-9%1.899-6%1.791+0%
Debt To Asset Ratio--0.5630.5630%0.596-6%0.596-5%0.609-7%
Debt To Equity Ratio--1.2901.2900%1.477-13%1.479-13%1.565-18%
Dividend Per Share--0.4010.4010%0.300+34%0.246+63%0.226+78%
Eps--0.6210.6210%1.010-39%0.775-20%0.579+7%
Free Cash Flow Per Share---0.445-0.4450%2.128-121%0.826-154%0.630-171%
Free Cash Flow To Equity Per Share---1.461-1.4610%1.638-189%0.232-729%0.212-789%
Gross Profit Margin--0.7670.7670%0.817-6%0.716+7%-0.532+169%
Intrinsic Value_10Y_max--7.151--------
Intrinsic Value_10Y_min---5.984--------
Intrinsic Value_1Y_max--0.914--------
Intrinsic Value_1Y_min--0.323--------
Intrinsic Value_3Y_max--2.595--------
Intrinsic Value_3Y_min--0.177--------
Intrinsic Value_5Y_max--4.095--------
Intrinsic Value_5Y_min---0.837--------
Market Cap363968000.000+4%350354700.000350354700.0000%725891400.000-52%405946610.000-14%311002525.500+13%
Net Profit Margin--0.0680.0680%0.064+6%0.059+14%0.046+47%
Operating Margin--0.0810.0810%0.096-15%0.080+2%0.068+20%
Operating Ratio--0.9300.9300%0.904+3%0.926+0%0.942-1%
Pb Ratio3.081+4%2.9432.9430%6.328-53%3.872-24%3.413-14%
Pe Ratio37.832+4%36.14136.1410%45.835-21%33.038+9%86.320-58%
Price Per Share23.500+4%22.45022.4500%46.300-52%25.920-13%19.866+13%
Price To Free Cash Flow Ratio-52.791-5%-50.433-50.4330%21.760-332%12.100-517%-2.517-95%
Price To Total Gains Ratio33.002+4%31.52731.5270%37.983-17%36.172-13%22.397+41%
Quick Ratio--1.6741.6740%1.853-10%1.790-7%1.702-2%
Return On Assets--0.0610.0610%0.056+10%0.053+16%0.042+47%
Return On Equity--0.1410.1410%0.138+2%0.131+8%0.105+34%
Total Gains Per Share--0.7120.7120%1.219-42%0.745-4%0.519+37%
Usd Book Value--129157315.000129157315.0000%124467945.000+4%111808816.000+16%95435081.000+35%
Usd Book Value Change Per Share--0.3370.3370%0.997-66%0.541-38%0.318+6%
Usd Book Value Per Share--8.2768.2760%7.939+4%7.142+16%6.098+36%
Usd Dividend Per Share--0.4360.4360%0.326+34%0.267+63%0.245+78%
Usd Eps--0.6740.6740%1.096-39%0.841-20%0.628+7%
Usd Free Cash Flow---7537495.000-7537495.0000%36194515.000-121%14054005.000-154%10697232.000-170%
Usd Free Cash Flow Per Share---0.483-0.4830%2.309-121%0.896-154%0.683-171%
Usd Free Cash Flow To Equity Per Share---1.585-1.5850%1.777-189%0.252-729%0.230-789%
Usd Market Cap394905280.000+4%380134849.500380134849.5000%787592169.000-52%440452071.850-14%337437740.168+13%
Usd Price Per Share25.498+4%24.35824.3580%50.236-52%28.123-13%21.555+13%
Usd Profit--18168325.00018168325.0000%17183145.000+6%14692853.000+24%10598931.000+71%
Usd Revenue--269012730.000269012730.0000%269502065.0000%247045386.000+9%220993451.000+22%
Usd Total Gains Per Share--0.7730.7730%1.323-42%0.808-4%0.563+37%
 EOD+5 -3MRQTTM+0 -0YOY+15 -215Y+17 -1910Y+29 -7

3.2. Fundamental Score

Let's check the fundamental score of PSI Software AG based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1537.832
Price to Book Ratio (EOD)Between0-13.081
Net Profit Margin (MRQ)Greater than00.068
Operating Margin (MRQ)Greater than00.081
Quick Ratio (MRQ)Greater than11.674
Current Ratio (MRQ)Greater than11.794
Debt to Asset Ratio (MRQ)Less than10.563
Debt to Equity Ratio (MRQ)Less than11.290
Return on Equity (MRQ)Greater than0.150.141
Return on Assets (MRQ)Greater than0.050.061
Total6/10 (60.0%)

3.3. Technical Score

Let's check the technical score of PSI Software AG based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5060.656
Ma 20Greater thanMa 5023.185
Ma 50Greater thanMa 10022.113
Ma 100Greater thanMa 20022.283
OpenGreater thanClose23.300
Total2/5 (40.0%)



Latest Balance Sheet

Balance Sheet of 2022-12-31. Currency in EUR. All numbers in thousands.

Summary
Total Assets272,598
Total Liabilities153,559
Total Stockholder Equity119,039
 As reported
Total Liabilities 153,559
Total Stockholder Equity+ 119,039
Total Assets = 272,598

Assets

Total Assets272,598
Total Current Assets154,233
Long-term Assets118,365
Total Current Assets
Cash And Cash Equivalents 45,444
Short-term Investments 3,111
Net Receivables 95,312
Inventory 7,601
Total Current Assets  (as reported)154,233
Total Current Assets  (calculated)151,468
+/- 2,765
Long-term Assets
Property Plant Equipment 37,892
Goodwill 59,767
Intangible Assets 13,423
Other Assets 6,589
Long-term Assets  (as reported)118,365
Long-term Assets  (calculated)117,671
+/- 694

Liabilities & Shareholders' Equity

Total Current Liabilities85,960
Long-term Liabilities67,599
Total Stockholder Equity119,039
Total Current Liabilities
Short-term Debt 11,303
Short Long Term Debt 4,667
Accounts payable 23,399
Other Current Liabilities 28,275
Total Current Liabilities  (as reported)85,960
Total Current Liabilities  (calculated)67,644
+/- 18,316
Long-term Liabilities
Long term Debt Total 17,873
Long term Debt 75
Capital Lease Obligations 24,434
Long-term Liabilities  (as reported)67,599
Long-term Liabilities  (calculated)42,382
+/- 25,217
Total Stockholder Equity
Common Stock40,185
Retained Earnings 65,517
Accumulated Other Comprehensive Income -21,800
Capital Surplus 35,137
Total Stockholder Equity (as reported)119,039
Total Stockholder Equity (calculated)119,039
+/-0
Other
Capital Stock40,185
Cash and Short Term Investments 45,444
Common Stock Shares Outstanding 15,606
Current Deferred Revenue22,983
Liabilities and Stockholders Equity 272,598
Net Debt -16,268
Net Invested Capital 123,781
Net Working Capital 68,273
Property Plant and Equipment Gross 98,616
Short Long Term Debt Total 29,176



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-31
> Total Assets 
0
119,913
96,782
87,987
84,660
90,001
102,618
154,735
169,158
175,661
186,441
178,034
192,217
199,522
199,427
194,010
208,671
248,837
259,399
284,122
272,598
272,598284,122259,399248,837208,671194,010199,427199,522192,217178,034186,441175,661169,158154,735102,61890,00184,66087,98796,782119,9130
   > Total Current Assets 
0
83,149
65,748
60,868
55,957
64,113
73,585
93,543
104,146
110,468
118,301
108,779
111,764
120,742
120,710
116,463
127,787
136,310
134,624
165,084
154,233
154,233165,084134,624136,310127,787116,463120,710120,742111,764108,779118,301110,468104,14693,54373,58564,11355,95760,86865,74883,1490
       Cash And Cash Equivalents 
0
16,970
18,868
18,947
15,340
18,948
23,650
20,765
28,882
33,846
33,338
21,800
29,314
38,831
43,008
38,132
44,579
38,656
40,482
67,478
45,444
45,44467,47840,48238,65644,57938,13243,00838,83129,31421,80033,33833,84628,88220,76523,65018,94815,34018,94718,86816,9700
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,716
3,366
2,039
1,398
1,133
1,884
3,111
3,1111,8841,1331,3982,0393,3662,71600000000000000
       Net Receivables 
0
29,536
22,163
17,504
0
0
45,889
66,437
65,180
68,714
79,215
81,927
77,769
75,760
70,689
70,990
73,854
88,094
87,035
85,988
95,312
95,31285,98887,03588,09473,85470,99070,68975,76077,76981,92779,21568,71465,18066,43745,8890017,50422,16329,5360
       Other Current Assets 
0
33,856
21,908
22,263
38,880
44,175
2,365
3,504
6,682
3,860
1,728
1,164
1,746
1,967
1,228
738
642
1,109
1,127
5,667
5,876
5,8765,6671,1271,1096427381,2281,9671,7461,1641,7283,8606,6823,5042,36544,17538,88022,26321,90833,8560
   > Long-term Assets 
0
36,764
31,034
27,119
28,703
25,888
29,033
61,192
65,012
65,193
68,140
69,255
80,453
78,780
78,717
77,547
80,884
112,527
124,775
119,038
118,365
118,365119,038124,775112,52780,88477,54778,71778,78080,45369,25568,14065,19365,01261,19229,03325,88828,70327,11931,03436,7640
       Property Plant Equipment 
0
9,291
8,495
7,992
12,365
12,490
8,002
9,344
13,710
14,464
14,242
13,781
12,949
12,214
12,153
12,531
13,592
37,039
38,928
38,027
37,892
37,89238,02738,92837,03913,59212,53112,15312,21412,94913,78114,24214,46413,7109,3448,00212,49012,3657,9928,4959,2910
       Goodwill 
0
0
0
0
0
0
0
0
0
0
44,529
44,529
51,476
49,559
48,914
48,289
49,417
54,892
60,804
59,697
59,767
59,76759,69760,80454,89249,41748,28948,91449,55951,47644,52944,5290000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
298
149
149
150
150
440
0
0
0
0
000044015015014914929800000000000
       Intangible Assets 
0
16,707
17,565
15,971
0
0
18,658
48,585
46,591
46,188
2,958
4,574
10,222
9,859
8,837
8,200
9,468
9,531
9,395
10,327
13,423
13,42310,3279,3959,5319,4688,2008,8379,85910,2224,5742,95846,18846,59148,58518,6580015,97117,56516,7070
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
4,648
5,657
6,999
8,793
8,458
7,967
10,625
15,208
10,293
6,589
6,58910,29315,20810,6257,9678,4588,7936,9995,6574,64800000000000
> Total Liabilities 
0
80,474
72,142
59,510
55,713
59,282
68,895
88,446
101,068
102,751
112,804
110,713
123,923
126,370
124,153
113,713
122,041
154,298
159,076
169,405
153,559
153,559169,405159,076154,298122,041113,713124,153126,370123,923110,713112,804102,751101,06888,44668,89559,28255,71359,51072,14280,4740
   > Total Current Liabilities 
0
50,645
46,076
33,893
0
0
40,078
55,193
60,114
67,496
67,802
64,776
75,695
77,343
69,200
59,679
65,960
70,710
72,079
83,826
85,960
85,96083,82672,07970,71065,96059,67969,20077,34375,69564,77667,80267,49660,11455,19340,0780033,89346,07650,6450
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
4,822
3,143
5,082
3,374
0
2,622
1,795
1,112
5,563
6,967
11,303
11,3036,9675,5631,1121,7952,62203,3745,0823,1434,8220000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
6,490
5,270
3,457
0
2,622
1,795
1,112
65
864
4,667
4,667864651,1121,7952,62203,4575,2706,49000000000000
       Accounts payable 
0
0
0
0
0
0
9,558
14,610
15,410
16,979
15,646
15,400
15,113
14,929
12,553
14,564
16,440
17,454
17,977
18,504
23,399
23,39918,50417,97717,45416,44014,56412,55314,92915,11315,40015,64616,97915,41014,6109,558000000
       Other Current Liabilities 
0
50,645
46,076
33,893
0
0
30,520
40,583
44,704
50,517
6,583
4,421
4,793
4,344
56,647
3,851
41,120
4,459
34,609
34,663
28,275
28,27534,66334,6094,45941,1203,85156,6474,3444,7934,4216,58350,51744,70440,58330,5200033,89346,07650,6450
   > Long-term Liabilities 
0
29,829
26,066
25,617
0
0
28,817
33,253
40,954
35,255
45,002
45,937
48,228
49,027
54,953
54,034
56,081
83,588
86,997
85,579
67,599
67,59985,57986,99783,58856,08154,03454,95349,02748,22845,93745,00235,25540,95433,25328,8170025,61726,06629,8290
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,523
19,300
20,930
17,873
17,87320,93019,30022,52300000000000000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
41,165
48,096
48,944
54,953
54,034
56,081
62,675
67,697
64,649
0
064,64967,69762,67556,08154,03454,95348,94448,09641,16500000000000
> Total Stockholder Equity
0
33,843
24,640
28,477
28,947
30,719
33,723
66,289
68,090
72,910
73,637
67,321
68,294
73,152
75,274
80,297
86,630
94,539
100,323
114,717
119,039
119,039114,717100,32394,53986,63080,29775,27473,15268,29467,32173,63772,91068,09066,28933,72330,71928,94728,47724,64033,8430
   Common Stock
0
28,193
28,193
31,009
0
0
30,464
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,185
40,18540,18540,18540,18540,18540,18540,18540,18540,18540,18540,18540,18540,18540,18530,4640031,00928,19328,1930
   Retained Earnings Total Equity000000000000000000000
   Accumulated Other Comprehensive Income -21,800-22,692-25,953-22,241-32,339-31,139-29,681-28,677-26,402-25,525-23,644-22,049-20,04300000000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
35,137
35,137
35,137
35,137
35,137
35,137
35,137
35,137
35,13735,13735,13735,13735,13735,13735,13735,1370000000000000
   Treasury Stock
0
0
0
0
0
0
0
0
0
0
0
0
0
-1,193
-528
-328
-88
16
80
702
0
07028016-88-328-528-1,1930000000000000
   Other Stockholders Equity 
0
28,873
31,941
31,761
28,520
29,010
31,891
33,655
31,611
32,597
27,885
25,900
22,774
20,173
17,021
15,986
15,330
12,896
9,184
12,445
13,337
13,33712,4459,18412,89615,33015,98617,02120,17322,77425,90027,88532,59731,61133,65531,89129,01028,52031,76131,94128,8730



Balance Sheet

Currency in EUR. All numbers in thousands.




Cash Flow

Currency in EUR. All numbers in thousands.




Income Statement

Currency in EUR. All numbers in thousands.