Fleury Michon S.A. (ALFLE.PA)

Industry: Packaged Foods Sector: Consumer Defensive Currency Used: FR Live Price: $24.80

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Stock Price	25.45	19.93	21.00	23.10	25.30	34.55	43.80	49.39	61.20	60.48	53.32	46.00	34.37	31.39	32.52	32.24	28.00	49.52	44.86	39.25	38.31	33.92	27.45
Market Capitalization	103.79M	83.10M	87.36M	96.52M	107.07M	148.41M	187.97M	210.29M	253.85M	250.96M	218.12M	186.40M	140.07M	137.73M	149.30M	150.18M	142.91M	252.35M	228.58M	200.02M	195.20M	172.85M	99.78M
(-) Cash & Equivalents	205.63M	140.89M	115.06M	150.45M	139.66M	108.41M	135.57M	135.15M	142.34M	101.05M	96.91M	79.93M	78.71M	50.13M	53.09M	26.60M	20.25M	20.98M	18.89M	17.98M	14.75M	0.00M	0.00M
(+) Total Debt	216.75M	225.49M	222.34M	228.31M	244.33M	239.13M	226.89M	178.39M	193.06M	152.69M	159.22M	165.14M	172.40M	183.64M	145.08M	58.90M	57.81M	40.58M	33.79M	22.62M	16.09M	6.64M	5.10M
Enterprise Value	114.91M	167.71M	194.63M	174.39M	211.74M	279.13M	279.29M	253.53M	304.56M	302.59M	280.43M	271.61M	233.76M	271.24M	241.28M	182.48M	180.47M	271.95M	243.48M	204.65M	196.54M	179.49M	104.88M

Income Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Revenue	1,627M	1,581M	807M	836M	795M	706M	735M	748M	725M	717M	738M	758M	707M	698M	691M	645M	598M	532M	503M	492M	453M	424M	408M	603M	559M
Cost of Revenue	621M	1,535M	419M	440M	445M	348M	369M	398M	369M	376M	382M	387M	352M	342M	331M	413M	289M	239M	238M	229M	210M	188M	181M	192M	191M
Gross Profit	1,007M	46M	388M	396M	350M	357M	367M	349M	356M	341M	355M	370M	355M	356M	360M	232M	309M	293M	264M	263M	242M	236M	226M	411M	368M
Gross Profit Margin	61.9%	2.9%	48.0%	47.3%	44.1%	50.6%	49.9%	46.7%	49.1%	47.5%	48.2%	48.9%	50.2%	51.0%	52.1%	35.9%	51.7%	55.0%	52.6%	53.4%	53.6%	55.7%	55.5%	68.2%	65.8%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	161M	440M	0M	-8M	117M	124M	108M	123M	123M	113M	112M	116M	108M	106M	102M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Operating Expenses	984M	18M	375M	380M	335M	347M	375M	361M	338M	327M	331M	342M	327M	324M	321M	206M	284M	267M	249M	242M	223M	215M	202M	392M	350M
Operating Income (EBIT)	23M	28M	13M	15M	15M	10M	-9M	-12M	19M	13M	24M	29M	29M	32M	39M	26M	25M	26M	15M	21M	19M	22M	24M	20M	17M
Operating Income Margin	1.4%	1.7%	1.6%	1.8%	1.9%	1.4%	-1.2%	-1.6%	2.6%	1.9%	3.3%	3.8%	4.0%	4.6%	5.7%	4.0%	4.2%	4.9%	3.0%	4.4%	4.2%	5.1%	6.0%	3.3%	3.1%
Interest Income	9M	3M	7M	4M	1M	1M	1M	2M	2M	2M	2M	2M	2M	2M	2M	1M	0M	0M	0M	1M	1M	0M	0M	0M	0M
Interest Expense	17M	10M	10M	9M	4M	4M	4M	3M	2M	2M	3M	3M	3M	3M	4M	3M	2M	4M	3M	3M	2M	1M	2M	17M	17M
Net Interest Income	-8M	-7M	-4M	-5M	-3M	-3M	-3M	-1M	-1M	0M	-1M	-1M	-1M	-1M	-2M	-2M	-2M	-4M	-3M	-2M	-1M	0M	-1M	-17M	-17M
Unusual Items	8M	-10M	3M	8M	-5M	4M	2M	-20M	0M	0M	-1M	0M	2M	-2M	-6M	0M	-1M	2M	-2M	0M	0M	0M	1M	17M	17M
EBT Excluding Unusual Items	15M	21M	10M	11M	12M	7M	-12M	-14M	18M	13M	23M	28M	28M	31M	37M	23M	23M	22M	12M	20M	18M	21M	23M	3M	1M
Pre-Tax Income	23M	11M	13M	19M	7M	11M	-10M	-33M	18M	13M	23M	28M	30M	29M	32M	23M	22M	23M	10M	20M	18M	21M	24M	20M	17M
Pre-Tax Margin	1.4%	0.7%	1.6%	2.2%	0.9%	1.5%	-1.3%	-4.5%	2.5%	1.9%	3.1%	3.7%	4.2%	4.2%	4.6%	3.6%	3.8%	4.4%	2.0%	4.1%	3.9%	5.0%	5.8%	3.3%	3.1%
Income Tax Expense	-2M	2M	0M	3M	1M	3M	5M	-5M	4M	5M	6M	11M	12M	13M	14M	10M	7M	9M	5M	7M	6M	7M	9M	7M	-6M
Net Income	62M	7M	48M	10M	2M	4M	-31M	-28M	14M	9M	17M	17M	18M	16M	18M	13M	17M	15M	5M	13M	12M	14M	15M	13M	12M
Net Income Margin	3.8%	0.5%	5.9%	1.2%	0.3%	0.6%	-4.2%	-3.7%	2.0%	1.2%	2.3%	2.3%	2.6%	2.3%	2.6%	2.0%	2.8%	2.8%	1.1%	2.7%	2.7%	3.4%	3.7%	2.1%	2.1%
Depreciation & Amortization	73M	77M	44M	36M	37M	42M	49M	42M	29M	34M	30M	29M	30M	28M	32M	28M	26M	26M	24M	24M	23M	25M	19M	18M	12M
EBITDA	96M	104M	57M	51M	52M	52M	40M	30M	48M	47M	55M	58M	58M	61M	71M	53M	51M	52M	39M	45M	42M	47M	43M	37M	29M
EBITDA Margin	5.9%	6.6%	7.0%	6.1%	6.6%	7.3%	5.5%	4.0%	6.6%	6.6%	7.4%	7.6%	8.3%	8.7%	10.3%	8.3%	8.6%	9.7%	7.7%	9.2%	9.3%	11.0%	10.6%	6.2%	5.2%
NOPAT	25M	23M	14M	13M	12M	7M	-7M	-10M	15M	9M	18M	17M	17M	18M	22M	14M	18M	16M	8M	15M	13M	15M	15M	12M	23M
NOPAT Margin	1.5%	1.4%	1.7%	1.5%	1.5%	1.0%	-0.9%	-1.3%	2.0%	1.2%	2.4%	2.3%	2.4%	2.6%	3.2%	2.2%	2.9%	3.1%	1.6%	3.0%	2.9%	3.4%	3.8%	2.1%	4.2%
Owner's Earnings	90M	31M	64M	11M	14M	25M	-5M	-25M	12M	20M	23M	12M	22M	17M	19M	-10M	8M	16M	-12M	0M	12M	11M	-3M	1M	-3M
Owner's Earnings Margin	5.5%	2.0%	7.9%	1.3%	1.7%	3.6%	-0.7%	-3.3%	1.7%	2.9%	3.1%	1.5%	3.2%	2.5%	2.7%	-1.5%	1.3%	3.1%	-2.5%	0.1%	2.7%	2.6%	-0.7%	0.2%	-0.6%
EPS (Basic)	13.71	1.74	11.45	2.47	0.58	1.75	-7.19	-6.52	3.38	2.02	4.05	4.12	4.43	4.01	4.39	2.97	3.62	3.18	1.05	2.56	2.49	279.00	296.00	2.45	2.28
EPS (Diluted)	15.25	1.74	10.90	2.47	0.58	0.96	-7.19	-6.52	3.38	2.02	4.05	4.12	4.43	4.01	4.39	2.97	3.63	3.18	1.05	2.56	2.36	2.79	2.96	2.46	2.27
Shares (Basic)	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	5M	5M	5M	5M	5M	5M	5M	5M	5M
Shares (Diluted)	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	4M	5M	5M	5M	5M	5M	5M	5M	5M	5M

Balance Sheet

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Cash & Cash Equivalents	180.62M	225.78M	225.78M	166.63M	108.41M	157.46M	155.17M	123.84M	139.24M	139.33M	150.33M	100.45M	113.58M	77.72M	86.32M	54.98M	60.61M	53.21M	40.50M	41.97M	37.77M	35.96M	29.50M	0.00M	0.00M
Short-Term Investments	0.05M	0.51M	0.51M	0.55M	0.77M	0.49M	0.18M	0.17M	0.42M	0.19M	0.57M	0.49M	0.88M	0.15M	0.14M	1.06M	0.63M	0.02M	0.02M	0.02M	0.02M	0.04M	0.37M	0.00M	0.00M
Cash & Short-Term Investments	180.67M	226.29M	226.29M	167.18M	109.18M	157.95M	155.35M	124.01M	139.66M	139.52M	150.90M	100.94M	114.45M	77.87M	86.46M	56.03M	61.24M	53.22M	40.52M	41.99M	37.80M	36.00M	29.87M	0.00M	0.00M
Net Receivables	62.70M	38.70M	38.70M	81.46M	74.51M	60.50M	66.72M	73.81M	90.15M	79.48M	0.00M	82.73M	88.73M	81.37M	105.67M	115.14M	91.11M	89.55M	112.79M	111.33M	99.94M	28.77M	0.00M	0.00M	0.00M
Inventory	76.50M	67.19M	67.19M	72.88M	82.27M	67.27M	72.53M	68.29M	66.63M	65.34M	65.20M	59.57M	56.82M	54.70M	60.16M	57.23M	52.05M	43.80M	49.94M	43.73M	40.78M	35.07M	28.75M	0.00M	0.00M
Other Current Assets	0.00M	28.65M	28.65M	1.02M	63.14M	0.00M	0.00M	-11.32M	33.31M	30.41M	0.00M	26.77M	19.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	149.78M	146.39M
Total Current Assets	319.88M	360.82M	360.82M	322.53M	329.08M	285.72M	294.60M	254.80M	329.75M	314.75M	216.10M	270.01M	279.80M	213.93M	252.28M	228.40M	204.40M	186.57M	203.25M	197.05M	178.51M	99.84M	58.62M	149.78M	146.39M
Property, Plant & Equipment	194.75M	200.35M	200.35M	202.05M	193.11M	212.00M	213.67M	231.66M	209.11M	199.10M	206.91M	211.45M	205.95M	208.39M	211.52M	199.52M	179.89M	167.96M	166.71M	144.31M	131.53M	124.63M	119.86M	105.31M	97.63M
Goodwill	84.43M	84.43M	84.43M	84.43M	92.67M	94.57M	97.17M	119.69M	84.54M	51.18M	49.27M	48.93M	48.28M	48.05M	48.69M	48.65M	48.60M	47.88M	47.30M	45.78M	45.59M	40.19M	31.87M	0.00M	0.00M
Intangible Assets	16.54M	16.78M	16.78M	20.31M	19.97M	18.43M	18.73M	18.97M	13.24M	4.52M	4.03M	3.82M	3.93M	3.32M	2.88M	2.48M	2.60M	2.00M	2.08M	1.77M	2.08M	2.50M	11.37M	34.18M	34.89M
Long-Term Investments	0.00M	4.67M	4.67M	27.41M	23.00M	23.82M	23.41M	34.81M	34.97M	23.90M	32.40M	31.67M	30.38M	34.86M	29.96M	26.90M	10.22M	9.62M	9.15M	10.21M	10.54M	2.92M	1.63M	0.00M	0.00M
Tax Assets	2.27M	1.83M	1.83M	0.86M	0.28M	0.49M	0.18M	0.00M	0.00M	0.00M	1.44M	1.32M	1.39M	1.31M	1.42M	1.49M	1.40M	1.14M	0.25M	0.04M	0.03M	0.00M	0.17M	0.00M	0.00M
Other Non-Current Assets	3.08M	0.51M	0.51M	0.55M	0.77M	0.00M	0.00M	0.17M	0.42M	0.19M	0.57M	0.49M	0.88M	0.15M	0.14M	1.05M	0.63M	0.02M	0.02M	0.02M	0.22M	0.04M	0.37M	2.94M	2.25M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	301.07M	308.57M	308.57M	335.60M	329.80M	349.31M	353.16M	405.30M	342.27M	278.88M	294.63M	297.68M	290.81M	296.07M	294.61M	280.08M	243.34M	228.62M	225.51M	202.12M	189.99M	170.28M	165.27M	142.43M	134.76M
Total Assets	620.95M	669.39M	669.39M	658.13M	658.89M	635.03M	647.77M	660.10M	672.02M	593.63M	510.73M	567.69M	570.60M	510.01M	546.89M	508.48M	447.73M	415.19M	428.75M	399.17M	368.50M	270.12M	223.89M	292.21M	281.15M
Accounts Payable	100.49M	114.57M	114.57M	114.43M	97.23M	98.65M	85.91M	92.21M	78.56M	77.07M	77.75M	87.56M	85.03M	82.93M	94.24M	94.08M	86.46M	76.33M	101.04M	98.36M	93.62M	86.66M	93.36M	0.00M	0.00M
Short-Term Debt	0.00M	61.52M	61.52M	85.57M	69.92M	63.55M	85.18M	54.81M	85.12M	81.59M	92.75M	36.28M	49.73M	37.83M	38.74M	39.10M	36.15M	32.60M	30.53M	35.13M	23.31M	10.11M	11.14M	0.00M	0.00M
Tax Payables	0.00M	2.05M	2.05M	1.76M	2.12M	3.60M	2.77M	2.23M	1.38M	1.92M	1.88M	1.30M	3.53M	1.79M	7.15M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.53M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	17.37M	23.86M	16.31M	10.53M	10.36M	11.20M	9.88M	11.88M	9.41M	15.21M	0.00M	0.00M	62.04M	0.00M	0.00M	51.01M	50.60M	0.00M	0.00M	0.00M
Other Current Liabilities	139.70M	93.37M	93.37M	90.48M	86.97M	8.30M	16.74M	68.74M	73.62M	72.05M	71.56M	75.48M	75.54M	73.48M	70.56M	60.85M	14.63M	12.88M	49.77M	18.47M	16.74M	38.03M	13.12M	106.87M	103.15M
Total Current Liabilities	240.19M	271.50M	271.50M	292.25M	256.22M	191.47M	214.46M	234.29M	249.20M	243.00M	255.15M	210.50M	225.71M	205.43M	225.89M	194.03M	137.24M	183.85M	181.34M	151.96M	184.68M	185.39M	118.15M	106.87M	103.15M
Long-Term Debt	0.00M	142.63M	142.63M	148.50M	139.68M	167.53M	157.13M	165.46M	133.04M	81.96M	87.91M	96.88M	94.45M	98.75M	107.66M	124.03M	88.07M	85.21M	85.09M	46.03M	44.28M	35.13M	21.05M	13.28M	15.31M
Capital Lease Obligations	0.00M	0.00M	0.00M	8.12M	7.48M	8.45M	22.19M	24.96M	15.58M	15.50M	21.38M	21.50M	23.26M	24.77M	26.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.66M	0.66M	1.33M	2.27M	0.81M	3.79M	2.83M	7.07M	5.38M	6.01M	6.90M	5.08M	7.36M	5.11M	9.50M	9.37M	8.63M	8.95M	7.97M	7.14M	5.40M	4.48M	0.00M	0.00M
Other Non-Current Liabilities	184.09M	44.67M	44.67M	50.03M	42.80M	4.00M	7.50M	3.42M	20.13M	4.17M	4.85M	5.52M	5.90M	5.85M	6.68M	7.48M	2.66M	2.93M	1.85M	2.44M	11.83M	12.93M	11.02M	62.10M	60.38M
Total Non-Current Liabilities	184.09M	187.95M	187.95M	207.98M	192.23M	180.79M	190.62M	196.68M	175.82M	107.01M	120.14M	130.80M	128.69M	136.74M	145.82M	141.02M	100.09M	96.77M	95.89M	56.44M	63.24M	53.46M	36.54M	75.37M	75.69M
Total Liabilities	424.27M	459.46M	459.46M	500.23M	448.46M	372.26M	405.08M	430.96M	425.02M	350.01M	375.29M	341.30M	354.40M	342.17M	371.71M	335.04M	237.33M	280.62M	277.23M	208.39M	247.92M	238.85M	154.70M	182.25M	178.84M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	13.38M	14.02M	14.02M	15.54M	15.54M	15.54M	15.54M	15.54M	0.00M	0.00M
Retained Earnings	5.48M	47.74M	47.74M	10.27M	2.41M	4.02M	-30.53M	-28.27M	14.50M	8.61M	16.81M	182.22M	167.47M	152.16M	140.59M	13.05M	16.62M	14.79M	5.36M	13.03M	12.04M	14.21M	15.08M	12.49M	11.60M
Accumulated OCI	0.00M	0.00M	131.47M	127.17M	131.03M	128.40M	159.05M	208.01M	-372.50M	-346.61M	-323.06M	-295.76M	-271.47M	-248.50M	-227.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	0.17M	0.15M	0.15M	0.14M	0.10M	0.08M	0.07M	2.66M	-0.13M	-0.02M	0.03M	0.03M	-0.12M	0.10M	0.13M	0.13M	0.13M	0.09M	0.08M	0.07M	0.06M	0.06M	0.07M	0.16M	0.13M
Total Shareholders’ Equity	18.86M	61.13M	192.60M	150.82M	146.82M	145.80M	141.90M	193.12M	-344.62M	-324.62M	-292.86M	-100.16M	-90.62M	-82.96M	-73.21M	26.43M	30.64M	28.81M	20.90M	28.57M	27.59M	29.76M	30.62M	12.49M	11.60M
Total Equity	19.03M	61.28M	192.75M	150.96M	146.92M	145.88M	141.97M	195.78M	-344.75M	-324.64M	-292.83M	-100.13M	-90.74M	-82.86M	-73.08M	26.56M	30.77M	28.90M	20.98M	28.64M	27.65M	29.82M	30.69M	12.65M	11.72M
Total Liabilities & Equity	443.30M	520.74M	652.21M	651.19M	595.38M	518.14M	547.06M	626.74M	80.27M	25.37M	82.46M	241.17M	263.66M	259.31M	298.64M	361.60M	268.10M	309.52M	298.20M	237.03M	275.57M	268.66M	185.38M	194.89M	190.56M
Tangible Assets	519.99M	568.18M	568.18M	553.39M	546.25M	522.03M	531.87M	521.43M	574.25M	537.94M	457.42M	514.94M	518.39M	458.64M	495.32M	457.35M	396.54M	365.31M	379.37M	351.62M	320.83M	227.43M	180.65M	258.03M	246.26M
Tangible Equity	-81.94M	-39.93M	91.55M	46.22M	34.28M	32.88M	26.08M	57.12M	-442.52M	-380.34M	-346.14M	-152.87M	-142.95M	-134.22M	-124.65M	-24.58M	-20.43M	-20.98M	-28.40M	-18.91M	-20.02M	-12.87M	-12.56M	-21.53M	-23.16M
Tangible Book Value	-81.94M	-39.93M	91.55M	46.22M	34.28M	32.88M	26.08M	57.12M	-442.52M	-380.34M	-346.14M	-152.87M	-142.95M	-134.22M	-124.65M	-24.58M	-20.43M	-20.98M	-28.40M	-18.91M	-20.02M	-12.87M	-12.56M	-21.53M	-23.16M
Total Investments	0.05M	5.18M	5.18M	27.96M	23.77M	24.31M	23.59M	34.98M	35.38M	24.09M	32.97M	32.16M	31.25M	35.01M	30.10M	27.95M	10.85M	9.64M	9.17M	10.23M	10.56M	2.95M	2.00M	0.00M	0.00M
Net Debt	-180.62M	-21.63M	-21.63M	67.45M	101.19M	73.63M	87.14M	96.43M	78.92M	24.22M	30.32M	32.71M	30.60M	58.86M	60.08M	108.16M	63.62M	64.60M	75.12M	39.19M	29.81M	9.27M	2.69M	13.28M	15.31M

Capital Metrics

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Working Capital	79.7M	91.0M	91.0M	31.7M	17.5M	27.3M	22.6M	26.1M	78.3M	83.3M	74.5M	67.6M	61.6M	42.6M	40.4M	35.2M	20.1M	16.0M	20.7M	7.8M	10.1M	11.8M	-10.3M	42.9M	43.2M
Total Capital	196.5M	416.3M	416.3M	401.4M	364.5M	405.4M	407.5M	449.2M	467.7M	404.7M	423.7M	363.9M	361.9M	340.5M	340.2M	386.6M	277.2M	253.9M	256.4M	225.3M	204.3M	173.8M	150.6M	40.7M	41.2M
Capital Employed	380.8M	399.6M	399.6M	367.3M	347.3M	376.6M	375.8M	431.4M	420.6M	362.2M	369.1M	365.3M	352.4M	338.7M	335.0M	315.3M	263.5M	244.6M	246.2M	209.9M	200.1M	182.1M	155.0M	185.3M	178.0M
Invested Capital	15.9M	190.5M	190.5M	234.7M	256.1M	248.0M	252.3M	325.4M	328.5M	265.3M	273.4M	263.4M	248.3M	262.8M	253.8M	331.6M	216.6M	200.7M	215.9M	183.4M	166.6M	137.9M	121.1M	40.7M	41.2M

Cash Flow Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
Net Income	61.39M	16.07M	47.76M	10.30M	2.43M	4.02M	-30.48M	-19.58M	14.39M	8.56M	16.81M	17.04M	17.93M	16.21M	17.90M	13.04M	16.65M	14.80M	27.59M	13.06M	17.73M	21.12M	23.77M	12.52M	11.56M
Depreciation & Amortization	53.99M	76.54M	35.73M	35.73M	44.31M	35.88M	70.02M	48.63M	30.25M	33.61M	32.86M	29.07M	29.81M	28.29M	31.62M	27.75M	26.02M	25.53M	23.75M	23.64M	23.19M	24.88M	18.85M	17.58M	12.08M
Deferred Income Tax	0.00M	-4.41M	0.00M	0.00M	0.00M	-4.41M	0.50M	-4.66M	-0.60M	0.95M	-1.02M	10.96M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	50.15M	-29.78M	8.58M	30.15M	-28.77M	17.69M	-18.15M	-6.07M	3.51M	-13.11M	-22.96M	-5.92M	3.79M	-4.78M	12.70M	-15.33M	2.61M	8.28M	-5.57M	-4.99M	-10.40M	-13.07M	-13.04M	-0.64M	9.67M
Accounts Receivable	-3.66M	-0.80M	9.60M	-7.92M	-1.76M	-5.06M	14.23M	-16.18M	0.25M	3.23M	-0.27M	-0.35M	-2.24M	4.13M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	28.82M	-29.43M	5.13M	10.07M	-15.68M	-5.26M	4.24M	-1.66M	1.29M	-0.14M	-5.64M	-2.75M	-2.12M	5.45M	-2.93M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	14.23M	11.24M	0.94M	12.69M	3.67M	12.67M	-6.96M	14.43M	-0.56M	1.37M	-9.86M	3.97M	2.24M	-4.13M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	10.76M	-10.79M	-7.08M	15.31M	-15.00M	4.81M	15.13M	-2.67M	2.53M	-17.57M	-7.19M	-6.78M	8.15M	-14.37M	15.62M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-52.38M	174.65M	-41.27M	1.50M	-5.76M	11.48M	45.99M	8.52M	-3.07M	2.09M	9.51M	-7.78M	0.60M	-0.79M	6.90M	3.73M	378.00M	11.28M	-22.72M	2.96M	-5.99M	-8.66M	-5.42M	1.94M	1.68M
Net Cash from Operating Activities	113.14M	61.00M	50.79M	77.69M	12.21M	64.66M	67.88M	26.84M	44.81M	32.10M	35.21M	43.37M	52.13M	38.93M	69.13M	29.19M	423.28M	59.89M	23.05M	34.67M	24.52M	24.28M	24.17M	31.39M	34.99M
Capital Expenditures (PPE)	-45.85M	-52.57M	-27.26M	-35.39M	-25.98M	-20.57M	-23.81M	-38.49M	-31.82M	-21.76M	-24.40M	-34.58M	-25.67M	-27.08M	-30.59M	-50.66M	-35.04M	-23.90M	-41.52M	-36.24M	-23.19M	-28.23M	-36.85M	-28.75M	-26.80M
Acquisitions (Net)	1.76M	1.96M	-1.39M	-0.07M	-0.63M	-4.12M	-0.75M	-69.43M	-39.14M	-3.38M	-0.01M	-0.33M	-0.03M	0.32M	0.00M	0.00M	0.33M	0.00M	0.11M	0.00M	-7.92M	0.11M	0.00M	0.00M	0.00M
Purchases of Investments	-2.07M	-1.38M	-1.50M	-0.59M	-0.31M	-0.28M	-4.00M	-0.19M	-0.06M	-0.56M	-0.05M	-2.51M	-0.37M	-6.69M	-5.15M	-16.39M	-0.14M	-0.18M	-0.36M	-0.37M	-7.33M	-0.38M	-0.97M	0.00M	0.00M
Sales / Maturities of Investments	69.01M	0.63M	68.87M	0.42M	0.27M	0.27M	4.50M	3.27M	0.80M	9.32M	0.34M	0.91M	6.23M	0.16M	0.14M	0.06M	0.05M	0.16M	0.05M	0.67M	0.07M	0.71M	0.07M	0.00M	0.00M
Other Investing Activities	0.79M	-0.01M	0.81M	7.21M	3.90M	4.16M	1.78M	2.03M	-11.80M	1.45M	0.98M	1.01M	0.66M	0.00M	0.73M	0.81M	0.00M	0.26M	-1.86M	0.81M	0.52M	1.27M	1.66M	0.66M	1.49M
Net Cash from Investing Activities	23.64M	-51.38M	39.54M	-28.43M	-22.74M	-20.53M	-22.29M	-102.80M	-82.03M	-14.93M	-23.14M	-35.49M	-19.18M	-33.29M	-34.86M	-66.18M	-34.81M	-23.67M	-43.58M	-35.12M	-37.85M	-26.53M	-36.09M	-28.09M	-25.31M
Net Debt Issuance	-12.53M	-26.89M	-35.22M	19.58M	-19.12M	-30.70M	3.09M	33.71M	44.84M	-8.92M	-12.30M	-14.91M	-8.01M	-7.92M	6.01M	-28.27M	6.99M	0.25M	39.65M	5.60M	8.79M	15.14M	16.02M	-4.66M	-5.45M
Long-Term Debt Issuance	-35.22M	-26.89M	-35.22M	19.58M	-19.12M	-30.70M	3.09M	33.71M	44.84M	-8.92M	-12.30M	-3.73M	-8.01M	-7.92M	6.01M	38.38M	6.99M	0.25M	39.65M	5.60M	8.79M	15.14M	16.02M	-4.66M	-5.45M
Short-Term Debt Issuance	22.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-11.18M	0.00M	0.00M	0.00M	-66.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	0.45M	0.37M	0.28M	0.27M	-0.13M	0.13M	-2.85M	-0.03M	0.11M	1.67M	0.03M	0.00M	5.12M	0.19M	-1.33M	65.46M	0.00M	-17.34M	-1.74M	-4.26M	-0.14M	-1.04M	-5.80M	0.00M	0.00M
Common Stock Issuance	0.45M	0.36M	0.28M	0.27M	0.00M	0.13M	0.00M	0.00M	0.11M	1.67M	0.03M	0.00M	0.00M	0.19M	0.00M	66.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.01M	0.00M	0.00M	-0.13M	0.00M	-2.85M	-0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-3.28M	-1.19M	-0.76M	-17.34M	-1.74M	-4.26M	-0.14M	-1.04M	-5.80M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-10.42M	-4.98M	-5.41M	-5.01M	-4.98M	-4.18M	-3.37M	-5.16M	-4.72M	-4.70M	-4.98M	-4.98M	-4.86M	-4.86M	-3.73M	-3.77M	-3.77M	-2.31M	-2.95M	-2.79M	-3.29M	-3.28M	-3.07M	0.00M	0.00M
Common Dividends Paid	-10.42M	-4.98M	-5.41M	-5.01M	-4.98M	-4.18M	-3.37M	-5.16M	-4.72M	-4.70M	-4.98M	-4.98M	-4.86M	-4.86M	-3.73M	-3.77M	-3.77M	-2.31M	-2.95M	-2.79M	-3.29M	-3.28M	-3.07M	0.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-3.93M	-5.36M	8.57M	-7.58M	-11.38M	-6.02M	-7.55M	26.96M	0.61M	-6.52M	44.27M	9.69M	-0.75M	-1.27M	0.42M	-2.10M	-0.16M	-2.74M	-5.39M	-2.21M	-0.02M	0.23M	-2.13M	-2.30M	-0.31M
Net Cash from Financing Activities	-26.42M	-35.36M	-31.78M	7.26M	-35.61M	-40.77M	-10.69M	55.49M	40.83M	-18.48M	27.02M	-10.20M	-8.49M	-13.87M	-0.58M	31.32M	0.64M	-22.13M	29.57M	-3.67M	5.34M	11.05M	5.01M	-6.96M	-5.75M
Effect of FX on Cash	0.28M	-261.49M	0.01M	0.04M	-0.01M	-0.05M	0.01M	0.02M	0.07M	0.06M	-0.11M	0.26M	-0.14M	0.11M	0.09M	0.00M	-380.49M	-2.03M	2.37M	0.06M	-0.45M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	110.64M	-28.30M	58.56M	56.56M	-46.15M	3.31M	34.91M	-20.45M	3.68M	-1.24M	38.98M	-2.07M	24.32M	-8.12M	33.77M	-5.68M	8.63M	12.07M	11.40M	-4.06M	-8.44M	8.80M	-6.91M	-3.66M	3.93M
Cash at Beginning of Period	464.43M	530.94M	164.21M	107.66M	153.81M	150.50M	115.59M	136.04M	132.37M	133.61M	94.63M	96.70M	72.38M	80.50M	46.73M	52.40M	43.78M	31.70M	20.30M	24.37M	32.81M	24.01M	30.92M	34.47M	30.55M
Cash at End of Period	574.88M	502.65M	222.77M	164.21M	107.66M	153.81M	150.50M	115.59M	136.04M	132.37M	133.61M	94.63M	96.70M	72.38M	80.50M	46.73M	52.40M	43.78M	31.70M	20.30M	24.37M	32.81M	24.01M	30.81M	34.47M
Operating Cash Flow	116.67M	61.00M	50.79M	77.69M	12.21M	64.66M	67.88M	26.84M	44.81M	32.10M	35.21M	43.37M	52.13M	38.93M	69.13M	29.19M	423.28M	59.89M	23.05M	34.67M	24.52M	24.28M	24.17M	31.39M	34.99M
Capital Expenditure	-45.85M	-52.57M	-27.26M	-35.39M	-25.98M	-20.57M	-23.81M	-38.49M	-31.82M	-21.76M	-24.40M	-34.58M	-25.67M	-27.08M	-30.59M	-50.66M	-35.04M	-23.90M	-41.52M	-36.24M	-23.19M	-28.23M	-36.85M	-28.75M	-26.80M
Free Cash Flow	70.82M	8.44M	23.53M	42.29M	-13.76M	44.09M	44.07M	-11.65M	12.99M	10.34M	10.81M	8.79M	26.46M	11.85M	38.54M	-21.48M	388.24M	36.00M	-18.48M	-1.57M	1.33M	-3.95M	-12.68M	2.64M	8.19M

Free Cash Flow

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31
EBITDA	919.01M	-318.05M	431.30M	439.30M	270.89M	275.29M	307.33M	268.54M	263.10M	261.28M	274.16M	283.60M	276.44M	278.51M	290.08M	259.43M	335.12M	318.37M	288.02M	286.64M	265.54M	261.16M	245.06M	428.76M	379.60M
(-) Tax Adjustment	0.00M	-58.23M	0.00M	82.00M	50.44M	88.29M	0.00M	43.00M	57.10M	91.45M	72.61M	99.26M	96.75M	97.48M	101.53M	90.80M	102.80M	111.43M	100.81M	92.51M	85.02M	85.43M	85.77M	150.06M	0.00M
(-) Change In Working Capital	50.15M	-29.78M	8.58M	30.15M	-28.77M	17.69M	-18.15M	-6.07M	3.51M	-13.11M	-22.96M	-5.92M	3.79M	-4.78M	12.70M	-15.33M	2.61M	8.28M	-5.57M	-4.99M	-10.40M	-13.07M	-13.04M	-0.64M	9.67M
(-) Capital Expenditure	-45.85M	-52.57M	-27.26M	-35.39M	-25.98M	-20.57M	-23.81M	-38.49M	-31.82M	-21.76M	-24.40M	-34.58M	-25.67M	-27.08M	-30.59M	-50.66M	-35.04M	-23.90M	-41.52M	-36.24M	-23.19M	-28.23M	-36.85M	-28.75M	-26.80M
Unlevered Free Cash Flow	823.02M	-282.60M	395.47M	291.75M	223.25M	148.75M	301.67M	193.12M	170.67M	161.18M	200.11M	155.68M	150.22M	158.74M	145.27M	133.30M	194.67M	174.76M	151.26M	162.88M	167.73M	160.57M	135.48M	250.58M	343.13M
(-) Net Interest Income After Taxes	-7.64M	-5.52M	-3.59M	-3.80M	-2.62M	-2.18M	-3.09M	-1.17M	-0.49M	-0.29M	-0.60M	-0.70M	-0.65M	-0.71M	-1.27M	-1.50M	-1.41M	-2.85M	-1.83M	-1.20M	-0.71M	-0.31M	-0.78M	-10.75M	-16.65M
Net Debt Issuance	-12.53M	-26.89M	-35.22M	19.58M	-19.12M	-30.70M	3.09M	33.71M	44.84M	-8.92M	-12.30M	-14.91M	-8.01M	-7.92M	6.01M	-28.27M	6.99M	0.25M	39.65M	5.60M	8.79M	15.14M	16.02M	-4.66M	-5.45M
Levered Free Cash Flow	818.13M	-303.98M	363.84M	315.12M	206.75M	120.22M	307.84M	228.00M	215.99M	152.55M	188.41M	141.48M	142.86M	151.52M	152.55M	106.53M	203.06M	177.87M	192.74M	169.68M	177.23M	176.02M	152.28M	256.67M	354.34M