| Consolidated Balance Sheets | |||
| (euro in thousands) |
June 30,
2018 (unaudited) |
March 31,
2018 (unaudited) |
December 31,
2017 (audited) |
| ASSETS | |||
| Cash and cash equivalents | 215,457 | 440,983 | 527,806 |
| Deposits | 180,000 | 130,000 | - |
| Accounts receivable | 185,647 | 159,624 | 151,654 |
| Inventories | 78,415 | 81,575 | 70,947 |
| Income tax receivable | 325 | 304 | 370 |
| Other current assets | 11,033 | 11,894 | 11,652 |
| Total current assets | 670,877 | 824,380 | 762,429 |
| Property, plant and equipment | 27,098 | 26,918 | 26,517 |
| Goodwill | 44,937 | 44,443 | 44,687 |
| Other intangible assets | 36,889 | 34,604 | 34,140 |
| Deferred tax assets | 4,830 | 4,707 | 4,660 |
| Other non-current assets | 2,818 | 2,746 | 2,520 |
| Total non-current assets | 116,572 | 113,418 | 112,524 |
| Total assets | 787,449 | 937,798 | 874,953 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Notes payable to banks | 4,114 | 969 | 1,742 |
| Current portion of long-term debt
and financial leases | 11,552 | 11,547 |
11,228 |
| Accounts payable | 62,600 | 73,428 | 62,721 |
| Accrued liabilities | 66,677 | 81,942 | 70,595 |
| Total current liabilities | 144,943 | 167,886 | 146,286 |
| Other long-term debt and
financial leases |
269,548 |
268,415 |
267,274 |
| Deferred tax liabilities | 13,875 | 12,045 | 10,050 |
| Other non-current liabilities | 16,162 | 17,125 | 17,211 |
| Total non-current liabilities | 299,585 | 297,585 | 294,535 |
| Total equity | 342,921 | 472,327 | 434,132 |
| Total liabilities and equity | 787,449 | 937,798 | 874,953 |
| Consolidated Cash Flow Statements | ||||||||
| (euro in thousands)
|
Three Months Ended
June 30, (unaudited) |
Six Months Ended
June 30, (unaudited) | ||||||
| 2018 | 2017 | 2018 | 2017 | |||||
| Cash flows from operating activities: | ||||||||
| Operating income | 59,292 | 63,316 | 107,848 | 94,139 | ||||
| Depreciation and amortization | 3,526 | 3,280 | 6,940 | 6,639 | ||||
| Share based compensation expense | 1,298 | 2,070 | 8,459 | 4,630 | ||||
| Other non-cash items | - | 430 | - | 857 | ||||
| Changes in working capital | (40,199 ) | (37,503) | (42,221 ) | (55,688) | ||||
| Income tax received (paid) | (14,746 ) | (504) | (16,623 ) | (1,013) | ||||
| Interest received (paid) | (2,215 ) | (1,544) | (2,524 ) | (1,456) | ||||
| Net cash provided by (used in) operating activities |
6,956 |
29,545 |
61,879 |
48,108 | ||||
| Cash flows from investing activities: | ||||||||
| Capital expenditures | (2,000 ) | (843) | (3,926 ) | (1,964) | ||||
| Capitalized development expenses | (3,448 ) | (1,789) | (6,088 ) | (3,673) | ||||
| Deposits* | (50,000 ) | - | (180,000 ) | (25,000) | ||||
| Net cash used in investing activities | (55,448 ) | (2,632) | (190,014 ) | (30,637) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from (payments of) bank lines of credit | 2,835 | - | 2,372 | (3,855 | ) | |||
| Proceeds from (payments of) debt and financial leases | (6 ) | (2,240) | 301 | (2,166) | ||||
| Dividends paid to shareholders | (174,018 ) | (65,302) | (174,018 ) | (65,302) | ||||
| Reissuance (purchase) of treasury shares | (6,000 ) | (5,000) | (12,000 ) | (12,500) | ||||
| Net cash provided by (used in) financing activities | (177,189 ) | (72,542) | (183,345 ) | (83,823) | ||||
| Net increase (decrease) in cash and cash equivalents | (225,681 ) | (45,629) | (311,480 ) | (66,352) | ||||
| Effect of changes in exchange rates on cash and
cash equivalents | 155 | (332) | (869 ) | (381) | ||||
| Cash and cash equivalents at beginning of the
period |
440,983 |
204,018 |
527,806 |
224,790 | ||||
| Cash and cash equivalents at end of the period | 215,457 | 158,057 | 215,457 | 158,057 | ||||
