Consolidated Income Statement 2019 2018 Change 2017 2016 2015
Revenue 679,594 689,154 (1.4%) 663,973 513,922 499,581
Expenses 619,045 639,916 (3.3%) 606,775 460,447 454,384
Operating profit - EBITDA 60,549 49,238 23.0% 57,198 53,475 45,197
Depreciation, amortization and impairment (47,027) (32,548) (44.5%) (30,148) (28,077) (24,729)
Results from operating activities - EBIT 13,522 16,690 (19.0%) 27,050 25,398 20,468
Net finance expense (4,787) (4,923) 2.8% (7,236) (345) 419
Share of loss of equity-accounted investees (377) (1,753) - (339) 210 331
Net earnings before income tax 8,358 10,014 (16.5%) 19,475 25,263 21,218
Income tax (7,351) (2,612) - (2,671) (3,368) (3,416)
Net earnings for the year 1,007 7,402 (86.4%) 16,804 21,895 17,802
     Earnings per share in EUR 0.0041 0.0378   0.0885 0.1148 0.0929
     Revenue change (1.4%) 3.8%   29.2% 2.9% 10.6%
     EBITDA ratio 8.9% 7.1%   8.6% 10.4% 9.0%
     EBIT ratio 2.0% 2.4%   4.1% 4.9% 4.1%
     Net debt / EBITDA 3.03 2.80   1.80 0.78 0.78
IFRS 16 adjusted:            
Expenses 630,242 639,916 (1.5%)      
EBITDA 49,352 49,238 0.2%      
Depreciation, amortization and impairment (36,876) (32,548) 13.3%      
EBIT 12,476 16,690 (25.2%)      
Consolidated Statement of Financial Position 31.12.2019 31.12.2018 Change  31.12.2017 31.12.2016  31.12.2015 
Assets 524,514 486,296 7.9% 459,515 391,691 355,157
Non-current assets 355,712 335,172 6.1% 313,529 253,256 233,280
Current assets 168,802 151,124 11.7% 145,986 138,435 121,877
Equity 230,868 238,926 (3.4%) 244,610 243,775 228,124
Liabilities 293,646 247,370 18.7% 214,905 147,916 127,033
Non-current liabilities 191,927 140,753 36.4% 117,614 64,456 55,550
Current liabilities 101,719 106,617 (4.6%) 97,291 83,460 71,483
Interest-bearing debt 204,263 159,593 28.0% 125,984 81,149 71,401
Net debt * 183,526 137,652 33.3% 102,815 41,606 35,418
     Tangible assets / Total assets 87.4% 86.0%   85.4% 89.4% 92.60%
     Equity ratio 44.0% 49.1%   53.2% 62.2% 64.20%
* As at January 1st 2019 IFRS 16 was implemented, lease liabilities at year end amounted to  EUR 41,3 million.          
Consolidated Statement of Cash Flows 2019 2018 Change 2017 2016 2054
Net cash from operating activities 201 29,029 (99.3%) 37,420 48,667 37,357
Net cash used in investing activities (36,551) (51,905) 29.6% (75,139) (39,907) (35,206)
Net cash provided (used in) by financing activities (15,599) 20,631 (175.6%) 22,581 (4,761) (5,173)
Changes in cash and cash equivalents (51,949) (2,245) (2,214.0%) (15,138) 3,999 (3,022)
Effects of exchange rate fluctuations on cash held (356) 1,017  -     (1,236) (439) (534)
Cash and cash equivalents at year-end 20,737 21,941 (5.5%) 23,169 39,543 35,983
             

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