Q3/9M results 2023

Multiple-year overview of results of operations and balance sheet 

in T€
20181)
20191)
20201)
2021
2022
Results of operations:
Group revenues
375,405
446,437
500,925
618,034
751,488
Costs of revenue
(263,389)
(313,546)
(375,181)
(466,491)
(577,383)
Gross profit
112,016
132,891
125,743
151,543
174,065
R&D expenses
(35,619)
(58,432)
(63,945)
(72.200)
(76,642)
SG&A expenses
(56,820)
(66,433)
(77,205)
(105.445)
(156,190)
Impairment of goodwill (net)
-
(1,647)
-
-
-
Impairment of intangible assets (net)
(4,364)
(10,272)
(3,244)
(683)
-
Income from bargain purchaise
15,400
-
-
-
-
Other Operating income (and expenses), net
47,042
66,600
67,207
67,781
81,580
Operating result
77,655
62,707
48,556
40,996
20,850
Non-operating income and (expenses), net
(5,464)
(6,032)
(22,716)
195,984
(174,807)
Profit (loss) before taxes
71,191
56,675
25,840
236,980
(153,957)
Tax income (expense)
12,007
(19,363)
(19,562)
(21,470)
(21,698)
Net income
84,198
37,312
6,278
215,510
(175,655)
Balance sheet data:
Cash, cash equivalents and investments
149,449
320,022
481,930
858,234
718,489
Trade accounts receivable incl. related parties
48,030
83,616
87,896
134,721
171,799
Inventories
5,660
10,749
13,585
25,793
29,825
Deferred tax assets
42,807
33,779
24,392
17,359
10,327
Property, plant and equipment
90,519
239,229
337,297
484,597
650,201
Intangible assets, excluding goodwill
122,989
116,994
98,036
30,851
23,819
Goodwill
220,791
255,919
247,370
257,569
274,819
Other assets2)
91,116
120,053
171,831
426,037
377,968
Total assets
771,883
1,180,361
1,462,337
2,235,161
2,257,247
Loans and finance leases
114,465
463,099
491,965
512,917
506,674
Trade accounts payable
31,137
31,319
42,549
72,598
97,277
Provisions
47,943
53,553
62,579
57,281
70,837
Contract liabilities
112,228
104,852
88,914
145,537
329,058
Other liabilities3)
41,208
48,925
51,874
69,143
66,217
Total stockholders' equity
426,380
478,613
724,456
1,377,685
1,187,185
Total liabilities and stockholders' equity
771,361
1,180,361
1,462,337
2,235,161
2,257,247
Personnel data:
Employees as of 31 December
2,617
3,030
3,572
4,198
4,952
Per share
(in €):
Result (basic/diluted)
0.56/0.57
0.25/0.25
0.04/0.04
1.30/1.30
(0.99)/(0.99)
Results of operations:  
20181)
20191)
20201)
2021
2022
Group revenues  
20181) 375,405
20191) 446,437
20201) 500,925
2021 618,034
2022 751,488
Costs of revenue  
20181) (263,389)
20191) (313,546)
20201) (375,181)
2021 (466,491)
2022 (577,383)
Gross profit  
20181) 112,016
20191) 132,891
20201) 125,743
2021 151,543
2022 174,065
R&D expenses  
20181) (35,619)
20191) (58,432)
20201) (63,945)
2021 (72.200)
2022 (76,642)
SG&A expenses  
20181) (56,820)
20191) (66,433)
20201) (77,205)
2021 (105.445)
2022 (156,190)
Impairment of goodwill (net)  
20181) -
20191) (1,647)
20201) -
2021 -
2022 -
Impairment of intangible assets (net)  
20181) (4,364)
20191) (10,272)
20201) (3,244)
2021 (683)
2022 -
Income from bargain purchaise  
20181) 15,400
20191) -
20201) -
2021 -
2022 -
Other Operating income (and expenses), net  
20181) 47,042
20191) 66,600
20201) 67,207
2021 67,781
2022 81,580
Operating result  
20181) 77,655
20191) 62,707
20201) 48,556
2021 40,996
2022 20,850
Non-operating income and (expenses), net  
20181) (5,464)
20191) (6,032)
20201) (22,716)
2021 195,984
2022 (174,807)
Profit (loss) before taxes  
20181) 71,191
20191) 56,675
20201) 25,840
2021 236,980
2022 (153,957)
Tax income (expense)  
20181) 12,007
20191) (19,363)
20201) (19,562)
2021 (21,470)
2022 (21,698)
Net income  
20181) 84,198
20191) 37,312
20201) 6,278
2021 215,510
2022 (175,655)
 
20181)
20191)
20201)
2021
2022
Balance sheet data:  
20181)
20191)
20201)
2021
2022
Cash, cash equivalents and investments  
20181) 149,449
20191) 320,022
20201) 481,930
2021 858,234
2022 718,489
Trade accounts receivable incl. related parties  
20181) 48,030
20191) 83,616
20201) 87,896
2021 134,721
2022 171,799
Inventories  
20181) 5,660
20191) 10,749
20201) 13,585
2021 25,793
2022 29,825
Deferred tax assets  
20181) 42,807
20191) 33,779
20201) 24,392
2021 17,359
2022 10,327
Property, plant and equipment  
20181) 90,519
20191) 239,229
20201) 337,297
2021 484,597
2022 650,201
Intangible assets, excluding goodwill  
20181) 122,989
20191) 116,994
20201) 98,036
2021 30,851
2022 23,819
Goodwill  
20181) 220,791
20191) 255,919
20201) 247,370
2021 257,569
2022 274,819
Other assets2)  
20181) 91,116
20191) 120,053
20201) 171,831
2021 426,037
2022 377,968
Total assets  
20181) 771,883
20191) 1,180,361
20201) 1,462,337
2021 2,235,161
2022 2,257,247
Loans and finance leases  
20181) 114,465
20191) 463,099
20201) 491,965
2021 512,917
2022 506,674
Trade accounts payable  
20181) 31,137
20191) 31,319
20201) 42,549
2021 72,598
2022 97,277
Provisions  
20181) 47,943
20191) 53,553
20201) 62,579
2021 57,281
2022 70,837
Contract liabilities  
20181) 112,228
20191) 104,852
20201) 88,914
2021 145,537
2022 329,058
Other liabilities3)  
20181) 41,208
20191) 48,925
20201) 51,874
2021 69,143
2022 66,217
Total stockholders' equity  
20181) 426,380
20191) 478,613
20201) 724,456
2021 1,377,685
2022 1,187,185
Total liabilities and stockholders' equity  
20181) 771,361
20191) 1,180,361
20201) 1,462,337
2021 2,235,161
2022 2,257,247
 
20181)
20191)
20201)
2021
2022
Personnel data:  
20181)
20191)
20201)
2021
2022
Employees as of 31 December  
20181) 2,617
20191) 3,030
20201) 3,572
2021 4,198
2022 4,952
 
20181)
20191)
20201)
2021
2022
Per share
(in €):
 
20181)
20191)
20201)
2021
2022
Result (basic/diluted)  
20181) 0.56/0.57
20191) 0.25/0.25
20201) 0.04/0.04
2021 1.30/1.30
2022 (0.99)/(0.99)

1) 2018 - 2020 restated for IAS 19

2) Consist of tax receivables, deferred tax assets, contract assets, prepaid expenses, equity investments, other long-term investments and other financial assets

3) Consist of tax receivables, deferred tax assets, contract assets, prepaid expenses, equity investments, other long-term investments and other financial assets

Guidance 2023

(as of 30 September 2023)

Guidance 2023
Guidance 2023 at constant fx-rates1)
Full-year 20222)
Group revenues 
€ 750-790 m
€ 765-805
€ 751 m
Adjusted Group EBITDA

€ 60-80 m

€ 70-90
€ 101 m
Unpartnered R&D expenses3)
€ 60-70 m
-
€ 70 m
Group revenues 
 
Guidance 2023 € 750-790 m
Guidance 2023 at constant fx-rates1) € 765-805
Full-year 20222) € 751 m
Adjusted Group EBITDA
 
Guidance 2023

€ 60-80 m

Guidance 2023 at constant fx-rates1) € 70-90
Full-year 20222) € 101 m
Unpartnered R&D expenses3)  
Guidance 2023 € 60-70 m
Guidance 2023 at constant fx-rates1) -
Full-year 20222) € 70 m

1) EUR/US$ 1.05; EUR/GBP 0.85

2) 2022 including M&A impact

3) No material fx-effects as most R&D efforts are carried out in € area

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