| Consolidated Cash Flow Statements | ||||
| (€ thousands)
|
Three Months Ended
June 30, (unaudited) |
Six Months Ended
June 30, (unaudited) | ||
| 2024 | 2023 | 2024 | 2023 | |
|
Cash flows from operating activities:
| ||||
| Income before income tax | 48,206 | 61,198 | 88,328 | 101,364 |
| Depreciation and amortization | 6,980 | 6,414 | 13,793 | 12,907 |
| Share based payment expense | 6,916 | 5,452 | 23,816 | 14,725 |
| Financial expense, net | 1,045 | 1,671 | 1,634 | 3,216 |
| Changes in working capital | (46,694 ) | (22,732) | (49,945 ) | (18,278) |
| Interest (paid) received | 3,893 | 644 | 5,062 | 1,493 |
| Income tax paid | (15,428 ) | (23,912) | (17,517 ) | (25,299) |
| Net cash provided by operating activities | 4,918 | 28,735 | 65,171 | 90,128 |
| Cash flows from investing activities: | ||||
| Capital expenditures | (3,216 ) | (2,323) | (8,866 ) | (3,458) |
| Capitalized development expenses | (4,912 ) | (5,251) | (9,575 ) | (10,641) |
| Repayments of (investments in) deposits | 85,000 | (30,268) | 95,000 | (5,268) |
| Net cash provided by (used in) investing activities | 76,872 | (37,842) | 76,559 | (19,367) |
| Cash flows from financing activities: | ||||
| Payments of lease liabilities | (1,063 ) | (1,112) | (2,106 ) | (2,212) |
| Purchase of treasury shares | (14,810 ) | (66,948) | (29,589 ) | (144,727) |
| Dividends paid to shareholders | (171,534 ) | (222,109) | (171,534 ) | (222,109) |
| Net cash used in financing activities | (187,407 ) | (290,169) | (203,229 ) | (369,048) |
| Net increase (decrease) in cash and cash equivalents | (105,617 ) | (299,276) | (61,499 ) | (298,287) |
| Effect of changes in exchange rates on cash and
cash equivalents | 798 | 2,326 | 256 | (422) |
| Cash and cash equivalents at beginning of the
period | 232,053 | 489,927 | 188,477 | 491,686 |
| Cash and cash equivalents at end of the period | 127,234 | 192,977 | 127,234 | 192,977 |
