en 
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(in € million)
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PER in 2022
Dividend per share
Consolidated net profit as a portion of the group (€ million)
Operating profit (€ million)
Consolidated turnover (€ million)
Market capitalization (€ million)
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Liquidity: the large number of floating investors (estimed by Euronext at 70%) and the number of shareholders ensure good liquidity.
Trading volumes decreased by 7.8% in 2022. On a daily average, 6,705 Thermador Groupe shares were traded, with a peak in March. |
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(in € calculated on 9,200,849 shares)
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(number of employees)
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(in €)
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(PER calculated on the average price of the year)
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Dividends
| Reminder of dividends over the last three financial years. | ||
| In euros | Dividend per share | Total amount |
| 2015 | 1.60 | 14,208,992 |
| 2016 | 1.60 | 14,397,654 |
| 2017 | 1.70 | 15,486,578 |
| 2018 | 1.75 | 15,939,966 |
| 2019 | 1.80 | 16,397,554 |
| 2020 | 1.82 | 16,745,545 |
| 2021 | 2.00 | 18,401,698 |
| 2022 | 2.08 | 19,137,765 |
Press release
2022
2021
Annual results
Annual figures
Equity variation statements
In thousands of euros at december 31, 2020
| Equity variation statements | Capital | Reserves linked to capital | Shares held internally | Retained earnings | Profits recorded directly as shareholders’ equity | Total group share | Minority shareholders | Total shareholders’ equity |
| Situation on 31/12/2018 | 36,439 | 44,807 | 122,100 | (51) | 203,295 | 174 | 203,469 | |
| Dividends paid* | (15,940) | (15,940) | (2) | (15,942) | ||||
| Allocation of profits the reserves | 1,651 | (1,651) | ||||||
| Fair value of financial instruments | 32 | 32 | 32 | |||||
| Foreign exchange differential | (14) | (14) | (14) | |||||
| Actuarial gains | (260) | (260) | (260) | |||||
| Profit of the period | 32,373 | 32,373 | 5 | 32,378 | ||||
| Situation on 31/12/2019 | 36,439 | 46,458 | 136,882 | (293) | 219,486 | 177 | 219,663 | |
| Dividends paid** | (16,395) | (16,395) | (16,395) | |||||
| Allocation of profits the reserves | 3,160 | (3,160) | ||||||
| Increase in capital | 364 | 2,487 | 2,851 | 2,851 | ||||
| Fair value of financial instruments | (538) | (538) | (538) | |||||
| Foreign exchange differential | 2 | 2 | 2 | |||||
| Actuarial gains | (172) | (172) | (172) | |||||
| Other variations | (12) | (12) | ||||||
| Profit of the period | 36,180 | 36,180 | 4 | 36,184 | ||||
| Situation on 31/12/2020 | 36,803 | 52,105 | 153,507 | (1,001) | 241,414 | 169 | 241,583 |
* 2018 dividend: €1.75 on 9,108,552 shares; treasury shares owned on the day of detachment of dividend rights (i.e. 1,200 shares) did not result in dividends being paid.
** 2019 dividend: €1.80 on 9,108,552 shares paid in 2020, treasury shares owned on the day of detachment of dividend rights (i.e. 1,200 shares) did not result in dividends being paid.
Global consolidated profit statement
In thousands of euros
| Consolidated profit and loss account | 2020 | 2019 | 2018 |
| Net turnover | 395,500 | 368,836 | 311,190 |
| Other income from activity | 784 | 718 | 1,000 |
| Purchases consumed | (252,151) | (234,593) | (196,587) |
| Personnel charges | (46,686) | (42,867) | (35,048) |
| External costs | (33,689) | (33,380) | (28,643) |
| Taxes | (4,697) | (4,586) | (4,033) |
| Depreciation and amortisation | (5,432) | (4,663) | (4,062) |
| Depreciation and amortisation - IFRS 16 impacts | (1,071) | (854) | |
| Increase in provisions | (664) | (464) | 107 |
| Other earnings, other operating expenditure | (483) | (326) | 128 |
| Operating profit | 51,411 | 47,821 | 44,052 |
| Cash earnings and equivalent | (139) | (25) | 2 |
| Gross cost of debt | (199) | (182) | (129) |
| Financial charges - IFRS 16 impacts | (54) | (31) | |
| Taxes | (14,835) | (15,205) | (14,771) |
| Net profit | 36,184 | 32,378 | 29,154 |
| Net profit as a portion of the group | 36,180 | 32,373 | 29,142 |
| Net profit attributable to minority interests | 4 | 5 | 12 |
| Net profit per share in euros (1) | 3.93 | 3.55 | 3.20 |
| Net profit per share after dilution in euros (2) | 3.73 | 3.37 | 3.03 |
| Statement of other elements of net overall consolidated profit | 2020 | 2019 | 2018 |
| Net profit | 36,184 | 32,378 | 29,154 |
| Other elements of overall profit | |||
| Actuarial discrepancy on end-of-career commitment provision | (172) | (260) | 3 |
| The fair value of financial instruments | (538) | 32 | 59 |
| Total overall profit | 35,474 | 32,150 | 29,216 |
| Total overall profit - Portion of group | 35,470 | 32,145 | 29,204 |
| Total of overall profit allocated to minority interests | 4 | 5 | 12 |
(1) The result per share is calculated on:
2018: 9,109,752 shares from which we have deducted the 1,200 own shares.
2019: 9,109,752 shares from which we have deducted the 1,200 own shares.
2020: 9,200,849 shares from which we have deducted the 1,200 own shares.
(2) Profit per share after dilution is calculated on:
2018: 9,108,552 shares from which we have added 500,000 shares corresponding to unissued authorised capital of €2,000,000.
2019: 9,108,552 shares from which we have added 500,000 shares corresponding to unissued authorised capital of €2,000,000.
2020: 9,199,649 shares from which we have added 500,000 shares corresponding to unissued authorised capital of €2,000,000.
Cash flow statement
In thousands of euros at december 31, 2020
| 31/12/2020 | 31/12/2019 | 31/12/2018 | |
| Consolidated net profit | 36,184 | 32,378 | 29,154 |
| Plus or minus latent gains due to fair value variations | - | - | - |
| Plus or minus net depreciation expense and provisions | 5,609 | 4,712 | 3,989 |
| Plus or minus depreciation allowance - IFRS 16 impacts | 1,071 | 854 | - |
| Plus financial charges – IFRS 16 impacts | 54 | 31 | - |
| Capital gains or losses from disposals | (93) | 68 | (503) |
| Cash flow from operations after net financial cost and taxes | 42,825 | 38,043 | 32,640 |
| Taxes | 14,835 | 15,205 | 14,771 |
| Cash flow from operations before net financial cost and taxes | 57,660 | 53,248 | 47,411 |
| Taxes paid | (14,994) | (15,269) | (14,751) |
| Cash flow from operations before net financial cost and after taxes | 42,666 | 37,979 | 32,660 |
| Change in operating working capital | (3,426) | 5,206 | (14,315) |
| Of which, Variation in trade receivables | (7,019) | (4,874) | 2,281 |
| Of which, stock variations | 5,098 | 936 | (10,926) |
| Of which, accounts payable variations | (1,132) | 7,226 | (4,619) |
| Of which, other receivables variations | 2,339 | (2,862) | (44) |
| Of which, other debt variations | (2,712) | 4,780 | (1,007) |
| Net cash flow from operating activities | 39,240 | 43,185 | 18,345 |
| Net cash flow from operations of change in scope | (4,967) | (4,779) | (18,982) |
| Disbursements related to acquisitions of fixed assets | (10,610) | (8,589) | (5,462) |
| Receipts from sale of assets | 119 | 595 | 15 |
| Owing to assets suppliers (variation) | 1,113 | 1,093 | 213 |
| Net cash flows from investments | (14,345) | (11,680) | (24,216) |
| Free cash flow | 24,895 | 31,505 | (5,871) |
| Dividends paid to shareholders of the parent company | (16,397) | (15,940) | (15,487) |
| Loan subscriptions | 7,000 | 5,200 | 22,001 |
| Increase in capital | 2,851 | - | - |
| IFRS 16 financing flows | (1,147) | (871) | - |
| Loan repayments | (9,576) | (10,629) | (6,208) |
| Net cash flows from financing activities | (17,269) | (22,240) | 306 |
| Net cash flow | 7,626 | 9,265 | (5,565) |
| Opening cash | 32,305 | 23,040 | 28,605 |
| Closing cash | 39,931 | 32,305 | 23,040 |
Profit and loss account
| In thousands of euros | 2020 | 2019 | 2018 |
| Operating profits | |||
| Business lease payments | 2,671 | 2,576 | 2,432 |
| Other business lease payments | 3,086 | 3,077 | 2,847 |
| Payment for services | 1,908 | 1,650 | 1,341 |
| Reversals of provisions and expense transfers | 618 | 508 | 543 |
| Other revenues | 1 | ||
| Total operating profits | 8,283 | 7,811 | 7,164 |
| Operating expenses | |||
| Business lease payments recharged | 2,671 | 2,576 | 2,432 |
| Other purchases and external charges excluding business lease payments | 2,191 | 2,036 | 2,009 |
| Taxes other than corporation tax | 138 | 198 | 181 |
| Wages and salaries | 1,161 | 1,042 | 927 |
| Social security charges | 510 | 420 | 380 |
| Depreciation and amortisation | 420 | 305 | 254 |
| Increase of provisions | 72 | 29 | 37 |
| Other operating expenses | 119 | 108 | 101 |
| Total operating expenses | 7,282 | 6,714 | 6,321 |
| Operating profit | 1,001 | 1,097 | 843 |
| Financial Profits | |||
| Dividends from investments (1) | 22,534 | 19,848 | 18,273 |
| Interests on intercompany loans | 12 | 29 | 50 |
| Net earnings from sales of investment securities | |||
| Financial income from investments | 2 | 12 | 16 |
| Reversals of provisions and expense transfers | 9 | ||
| Positive exchange rate variations | 3,422 | 3,020 | 2,447 |
| Total financial profits | 25,970 | 22,918 | 20,786 |
| Financial expenses | |||
| Amortisation and provisions for financial assets | 9 | ||
| Net interest payable (2) | 203 | 200 | 143 |
| Negative exchange rate variations | 3,505 | 3,056 | 2,858 |
| Total financial expenses | 3,708 | 3,256 | 3,010 |
| Net interest (payable) | 22,262 | 19,662 | 17,776 |
| Profit on ordinary activities before tax | 23,263 | 20,759 | 18,619 |
| Total extraordinary income | (2) | ||
| Current tax charge | 1,122 | 1,203 | 1,028 |
| Net profit | 22,141 | 19,554 | 17,591 |
| (1) Of which income from associated companies. | 22,546 | 19,885 | 18,323 |
| (2) Of which interest from associated companies. | 13 | 32 | 33 |
Financial statement
In thousands of euros at december 31, 2020
| Assets | 31/12/2020 | 31/12/2019 | 31/12/2018 |
| Non-current assets: | |||
| Consolidated goodwill | 56,317 | 53,286 | 50,804 |
| Intangible assets | 9,238 | 6,818 | 4,757 |
| Tangible assets | 67,122 | 61,619 | 54,758 |
| - Land | 10,870 | 10,834 | 10,834 |
| - Buildings | 42,227 | 35,795 | 36,650 |
| - Other tangible assets | 6,376 | 5,770 | 5,619 |
| - Tangible assets in progress | 4,653 | 6,265 | 1,655 |
| - Rights of use in rental contracts | 2,996 | 2,955 | |
| Financial investments | 313 | 298 | 278 |
| Deferred tax assets | 1,361 | 1,270 | 1,328 |
| Total non-current assets | 134,351 | 123,291 | 111,925 |
| Current assets: | |||
| Stock (goods) | 119,541 | 123,046 | 122,782 |
| Trade notes and accounts receivable | 73, 141 | 63,931 | 58,118 |
| Corporate tax | 639 | 685 | 851 |
| Deferred tax assets | 420 | 487 | 421 |
| Other receivables | 10,808 | 12,597 | 10,017 |
| Cash and cash equivalent | 40,325 | 32,494 | 24,069 |
| Total current assets | 244,874 | 233,240 | 216,258 |
| Total assets | 379, 225 | 356,531 | 328,183 |
| Liabilities | 31/12/2020 | 31/12/2019 | 31/12/2018 |
| Equity: | |||
| Share capital and reserves | 88,908 | 82,897 | 81,246 |
| Consolidated reserves | 116,326 | 104,216 | 92,907 |
| Portion of net profit allocated to the group | 36,180 | 32,373 | 29,142 |
| Minority interests | 169 | 177 | 174 |
| Total shareholders’ equity | 241,583 | 219,663 | 203,469 |
| Non-current liabilities | |||
| Loans and long-term financial debt | 25,811 | 29,764 | 36,096 |
| Rental obligations over one year | 1,936 | 1,951 | |
| Deferred tax liabilities | 3,694 | 3,329 | 3,026 |
| Provisions for end-of-career commitment | 4,491 | 3,724 | 3,225 |
| Total non-current liabilities | 35,932 | 38,768 | 42,347 |
| Current liabilities | |||
| Current provisions | 539 | 606 | 708 |
| Rental obligations under one year | 1,036 | 1,018 | |
| Short-term loans | 394 | 189 | 1,029 |
| Current portion of loans and financial long-term debt | 13,188 | 11,760 | 10,606 |
| Accounts payable | 52,760 | 52,254 | 44,268 |
| Equipment supply accounts payable | 2,623 | 1,510 | 417 |
| Tax payable | 1,336 | 1,983 | 942 |
| Tax and social charges debt | 14,081 | 13,927 | 11,780 |
| Other liabilities | 15,753 | 14,853 | 12,617 |
| Total current liabilities | 101,710 | 98,100 | 82,367 |
| Total liabilities and shareholders’ equity | 379,225 | 356,531 | 328,183 |
Half-yearly reports
2015
2014
2013
2012
2011
2010
2009
Quarterly information
2014
2013
2012
2011
2010
2009
One-time data
Investor slideshow
2023
2022
2021
Shareholders slideshow
Analysis
