| Consolidated Cash Flow Statements | ||||||||
| (€ thousands)
|
Three Months Ended December 31,
(unaudited) |
Year Ended
December 31, (audited) | ||||||
| 2022 | 2021 | 2022 | 2021 | |||||
| Cash flows from operating activities: | ||||||||
| Income before income tax | 45,080 | 64,129 | 275,490 | 303,840 | ||||
| Depreciation and amortization | 6,082 | 4,847 | 22,992 | 17,564 | ||||
| Share based payment expense | 2,116 | 1,617 | 15,259 | 16,409 | ||||
| Financial expense, net | 3,625 | 3,023 | 18,626 | 13,743 | ||||
| Changes in working capital | 32,588 | 26,938 | (21,553 | ) | (59,733 | ) | ||
| Income tax (paid) received | (2,014 | ) | 2,429 | (35,353 | ) | (9,651 | ) | |
| Interest paid | (848 | ) | (1,148 | ) | (3,590 | ) | (4,318 | ) |
| Net cash provided by operating activities | 86,629 | 101,835 | 271,871 | 277,854 | ||||
| Cash flows from investing activities: | ||||||||
| Capital expenditures | (2,138 | ) | (1,266 | ) | (6,780 | ) | (5,337 | ) |
| Proceeds from sale of property | - | - | - | 54 | ||||
| Capitalized development expenses | (5,522 | ) | (6,738 | ) | (21,613 | ) | (23,015 | ) |
| Repayments of (investments in) deposits | 75,000 | (85,791 | ) | 44,711 | 3,453 | |||
| Net cash provided by (used in) investing activities | 67,340 | (93,795 | ) | 16,318 | (24,845 | ) | ||
| Cash flows from financing activities: | ||||||||
| Proceeds from (payments of) debt | 494 | - | 494 | 1,021 | ||||
| Proceeds from convertible notes | - | - | 172,176 | - | ||||
| Payments of lease liabilities | (1,215 | ) | (899 | ) | (4,101 | ) | (3,638 | ) |
| Dividends paid to shareholders | - | - | (269,467 | ) | (129,357 | ) | ||
| Purchase of treasury shares | (64,969 | ) | (15,724 | ) | (146,781 | ) | (50,096 | ) |
| Net cash used in financing activities | (65,690 | ) | (16,623 | ) | (247,679 | ) | (182,070 | ) |
| Net increase (decrease) in cash and cash equivalents |
88,279 |
(8,583 |
) |
40,510 |
70,939 | |||
| Effect of changes in exchange rates on cash and
cash equivalents |
(3,352 |
) |
4,711 |
(219 |
) |
5,050 | ||
| Cash and cash equivalents at beginning of the
period |
406,759 |
455,267 |
415,395 |
375,406 | ||||
| Cash and cash equivalents at end of the period | 491,686 | 451,395 | 491,686 | 451,395 | ||||
