Western Asset Premier Bond Fund (WEA)

Industry: Asset Management - Bonds Sector: Financial Services Currency Used: US Live Price: $11.32

Enterprise Value

Metric	MRQ	MRQ-1	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Stock Price	10.85	10.77	10.59	10.48	10.61	14.53	13.65	14.18	12.35	13.91	13.13	12.78	14.41	14.69	15.52
Market Capitalization	128.74M	127.79M	125.66M	248.58M	251.79M	344.67M	323.87M	168.83M	146.96M	165.60M	156.21M	152.08M	171.45M	174.71M	184.31M
(-) Cash & Equivalents	0.10M	0.19M	0.24M	0.37M	0.00M	0.07M	0.04M	0.29M	0.61M	0.57M	0.37M	0.74M	1.00M	0.45M	0.46M
(+) Total Debt	65.09M	66.18M	66.11M	48.98M	63.30M	57.50M	57.50M	57.00M	56.50M	58.00M	58.00M	58.00M	26.50M	0.00M	0.00M
Enterprise Value	193.73M	193.78M	191.53M	297.19M	315.09M	402.10M	381.33M	225.54M	202.85M	223.03M	213.84M	209.34M	196.95M	174.27M	183.85M

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
Revenue	23M	26M	14M	14M	1M	14M	12M	30M	-8M	18M	13M	14M	15M	16M	16M
Cost of Revenue	2M	0M	0M	0M	2M	1M	1M	1M	1M	1M	1M	0M	0M	0M	0M
Gross Profit	21M	26M	14M	14M	-1M	12M	10M	28M	-10M	17M	12M	14M	15M	16M	16M
Gross Profit Margin	89.4%	100.0%	100.0%	100.0%	-49.1%	89.4%	88.2%	95.3%	116.0%	92.6%	89.9%	100.0%	100.0%	100.0%	100.0%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	2M	3M	1M	1M	0M	1M	0M	0M	0M	0M	2M	2M	2M	2M	2M
Operating Expenses	2M	46M	1M	1M	0M	1M	2M	0M	0M	0M	9M	21M	4M	2M	21M
Operating Income (EBIT)	18M	-20M	12M	12M	-1M	11M	9M	28M	-10M	16M	2M	-7M	11M	14M	-6M
Operating Income Margin	79.9%	-76.2%	90.6%	90.1%	-81.5%	84.6%	74.8%	93.8%	120.7%	90.4%	19.0%	-49.5%	76.0%	86.3%	-34.9%
Interest Income	2M	3M	0M	13M	13M	12M	13M	13M	12M	12M	1M	1M	0M	0M	0M
Interest Expense	2M	0M	4M	3M	2M	0M	1M	2M	2M	1M	0M	0M	0M	0M	0M
Net Interest Income	0M	3M	-4M	10M	11M	12M	12M	11M	10M	11M	1M	1M	0M	0M	0M
Unusual Items	3M	-7M	-2M	-10M	-38M	-20M	-9M	-10M	-9M	-10M	18M	-1M	-1M	0M	43M
EBT Excluding Unusual Items	18M	-16M	9M	23M	10M	23M	21M	39M	0M	28M	3M	-6M	12M	14M	-6M
Pre-Tax Income	21M	-23M	6M	12M	-27M	3M	11M	29M	-9M	18M	22M	-8M	11M	14M	37M
Pre-Tax Margin	91.6%	-89.1%	46.0%	91.5%	-2,497.8%	22.6%	97.3%	98.6%	104.7%	97.8%	167.7%	-53.7%	74.3%	86.3%	234.9%
Income Tax Expense	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Income	21M	-23M	6M	12M	-27M	3M	11M	29M	-9M	18M	22M	-8M	11M	13M	37M
Net Income Margin	91.6%	-89.4%	46.0%	91.5%	-2,497.8%	22.6%	97.3%	98.6%	104.7%	97.8%	167.7%	-55.2%	72.4%	84.0%	232.2%
Depreciation & Amortization	-18M	-23M	-12M	-9M	-11M	-11M	0M	-12M	-11M	-11M	-12M	-13M	-13M	-14M	-14M
EBITDA	0M	-43M	0M	3M	-12M	1M	9M	16M	-21M	6M	-9M	-20M	-1M	0M	-20M
EBITDA Margin	-0.2%	-164.9%	0.0%	23.9%	-1,133.4%	5.1%	74.8%	54.5%	248.2%	31.5%	-72.3%	-138.1%	-9.7%	-1.9%	-124.1%
NOPAT	18M	-16M	12M	12M	-1M	11M	9M	28M	-8M	16M	2M	-6M	11M	13M	-5M
NOPAT Margin	79.9%	-60.2%	90.6%	90.1%	-64.4%	84.6%	74.8%	93.8%	95.4%	90.3%	19.0%	-39.1%	74.4%	84.6%	-34.6%
Owner's Earnings	3M	-46M	-6M	3M	-39M	-8M	11M	17M	-19M	7M	10M	-21M	-2M	-1M	23M
Owner's Earnings Margin	11.5%	-178.2%	-44.6%	25.4%	-3,549.7%	-57.0%	97.3%	59.2%	232.2%	39.0%	76.4%	-143.8%	-13.3%	-4.2%	143.0%
EPS (Basic)	1.77	-1.96	0.53	1.05	-2.30	0.26	0.97	2.45	-0.73	1.50	1.83	-0.66	0.91	1.11	3.09
EPS (Diluted)	1.42	-0.98	0.53	1.05	-2.30	0.26	0.97	2.45	-0.72	1.50	1.83	-0.66	0.91	1.11	3.09
Shares (Basic)	15M	24M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M
Shares (Diluted)	15M	24M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M	12M

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
Cash & Cash Equivalents	0.10M	0.19M	0.19M	0.22M	0.43M	0.46M	0.32M	0.20M	0.25M	0.46M	0.39M	0.31M	0.58M	0.63M	0.91M
Short-Term Investments	0.00M	2.22M	2.22M	0.00M	0.00M	0.00M	-0.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	0.10M	2.41M	2.41M	0.22M	0.43M	0.46M	0.00M	0.20M	0.25M	0.46M	0.39M	0.31M	0.58M	0.63M	0.91M
Net Receivables	3.38M	2.51M	2.51M	2.97M	2.75M	2.72M	5.59M	3.01M	2.83M	2.76M	7.22M	2.72M	6.75M	3.54M	2.32M
Inventory	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 Current Assets	0.00M	-2.52M	-2.52M	2.20M	-0.43M	-0.33M	0.00M	-0.20M	0.73M	0.21M	0.10M	1.96M	2.07M	20.84M	22.33M
Total Current Assets	3.48M	2.41M	2.41M	5.38M	2.76M	2.85M	5.59M	3.00M	3.81M	3.42M	7.71M	4.99M	9.40M	25.01M	25.57M
Property, Plant & Equipment	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
Goodwill	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
Intangible 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
Long-Term Investments	0.01M	199.33M	199.33M	179.64M	200.35M	239.15M	240.71M	238.22M	214.14M	229.14M	219.48M	209.17M	226.07M	224.45M	223.62M
Tax 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
Other Non-Current Assets	199.17M	0.00M	0.00M	0.75M	0.00M	0.00M	0.00M	0.00M	-214.14M	-229.14M	0.01M	0.01M	0.02M	0.00M	-223.62M
Other Assets	0.00M	0.44M	0.44M	0.00M	0.00M	0.16M	246.30M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	199.18M	199.77M	199.77M	180.39M	200.35M	239.31M	487.01M	238.23M	0.00M	0.01M	219.49M	209.18M	226.09M	224.45M	0.00M
Total Assets	202.65M	202.18M	202.18M	185.77M	203.11M	242.15M	492.60M	241.23M	3.82M	3.44M	227.20M	214.17M	235.49M	249.46M	25.57M
Accounts Payable	3.18M	3.34M	3.34M	0.27M	0.39M	1.41M	1.86M	2.38M	0.04M	1.22M	0.00M	0.00M	5.64M	0.95M	0.45M
Short-Term Debt	6.09M	7.18M	7.18M	1.47M	11.61M	13.18M	10.52M	6.81M	5.23M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Payables	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
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	-11.21M	-11.76M	-8.66M	-4.42M	-5.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	-6.09M	-7.27M	-7.27M	0.20M	-0.09M	-1.41M	-1.97M	-2.66M	-5.37M	-1.55M	0.00M	0.02M	0.03M	0.07M	0.51M
Total Current Liabilities	3.18M	3.24M	3.24M	1.94M	0.70M	1.41M	1.75M	2.10M	-5.30M	-0.33M	0.00M	0.02M	5.67M	1.03M	0.96M
Long-Term Debt	65.09M	59.00M	59.00M	47.50M	57.50M	57.50M	57.50M	57.00M	57.00M	58.00M	58.00M	58.00M	53.00M	0.00M	0.00M
Capital Lease Obligations	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
Deferred Tax Liabilities	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 Non-Current Liabilities	0.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-57.00M	-58.00M	3.72M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	65.39M	59.00M	59.00M	47.50M	57.50M	57.50M	57.50M	57.00M	0.00M	0.00M	61.72M	58.00M	53.00M	0.00M	0.00M
Total Liabilities	68.57M	62.24M	62.24M	49.44M	58.20M	58.91M	59.25M	59.10M	-5.30M	-0.33M	61.72M	58.02M	58.67M	1.03M	0.96M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.90M	0.00M	0.00M	0.00M	0.00M	72.02M	72.01M
Common Stock	156.15M	156.15M	156.15M	156.17M	156.22M	156.30M	156.27M	156.72M	156.68M	156.65M	167.92M	167.90M	168.08M	166.14M	166.09M
Retained Earnings	-22.06M	-23.70M	-23.70M	-20.08M	-23.00M	13.58M	19.92M	17.85M	-1.90M	0.18M	1.15M	-12.21M	8.31M	10.05M	10.12M
Accumulated OCI	0.00M	-23.70M	0.00M	0.00M	0.00M	13.58M	19.92M	17.85M	-1.90M	15.96M	-3.82M	0.00M	0.00M	0.00M	0.00M
Minority Interest	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 Shareholders’ Equity	134.09M	108.75M	132.45M	136.09M	133.22M	183.46M	196.10M	192.41M	154.78M	172.79M	165.25M	155.70M	176.39M	248.21M	248.23M
Total Equity	134.09M	108.75M	132.45M	136.09M	133.22M	183.46M	196.10M	192.41M	154.78M	172.79M	165.25M	155.70M	176.39M	248.21M	248.23M
Total Liabilities & Equity	202.66M	170.99M	194.69M	185.53M	191.42M	242.38M	255.35M	251.52M	149.48M	172.46M	226.97M	213.72M	235.06M	249.24M	249.19M
Tangible Assets	202.65M	202.18M	202.18M	185.77M	203.11M	242.15M	492.60M	241.23M	3.82M	3.44M	227.20M	214.17M	235.49M	249.46M	25.57M
Tangible Equity	134.09M	108.75M	132.45M	136.09M	133.22M	183.46M	196.10M	192.41M	154.78M	172.79M	165.25M	155.70M	176.39M	248.21M	248.23M
Tangible Book Value	134.09M	108.75M	132.45M	136.09M	133.22M	183.46M	196.10M	192.41M	154.78M	172.79M	165.25M	155.70M	176.39M	248.21M	248.23M
Total Investments	0.01M	201.55M	201.55M	179.64M	200.35M	239.15M	240.71M	238.22M	214.14M	229.14M	219.48M	209.17M	226.07M	224.45M	223.62M
Net Debt	71.08M	65.99M	65.99M	48.75M	68.67M	70.21M	67.70M	63.61M	61.98M	57.54M	57.61M	57.69M	52.42M	-0.63M	-0.91M

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
Working Capital	0.3M	-0.9M	-0.9M	3.4M	2.4M	1.4M	3.7M	0.6M	3.0M	1.9M	7.5M	4.5M	3.3M	23.8M	24.6M
Total Capital	199.2M	198.6M	198.6M	185.1M	202.3M	240.6M	244.2M	231.6M	211.8M	230.8M	223.3M	213.7M	229.4M	248.2M	248.2M
Capital Employed	199.5M	198.8M	198.8M	183.7M	202.7M	240.7M	244.4M	238.9M	217.2M	231.0M	227.0M	213.7M	229.4M	248.2M	248.2M
Invested Capital	199.1M	198.4M	198.4M	184.8M	201.9M	240.1M	243.9M	231.4M	211.5M	230.3M	222.9M	213.4M	228.8M	247.6M	247.3M

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
Net Income	21.12M	-23.24M	6.33M	12.41M	-27.27M	3.06M	11.47M	29.12M	-8.67M	17.81M	21.73M	-7.87M	10.92M	13.33M	36.84M
Depreciation & Amortization	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
Deferred Income Tax	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
Stock-Based Compensation	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	1.49M	-2.55M	3.49M	-0.30M	-1.03M	2.46M	-3.14M	2.18M	-1.40M	5.78M	-2.89M	4.20M	-3.33M	0.00M	0.00M
Accounts Receivable	-0.38M	0.30M	0.45M	0.27M	-0.04M	2.87M	-2.60M	-0.16M	-0.07M	4.46M	-2.87M	4.04M	-3.21M	0.00M	0.00M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	2.26M	-3.11M	3.03M	-0.10M	-1.33M	-0.48M	-0.52M	2.37M	-1.28M	1.28M	-0.02M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-0.39M	0.26M	0.01M	-0.47M	0.34M	0.07M	-0.04M	-0.03M	-0.05M	0.04M	-0.01M	0.16M	-0.11M	0.00M	0.00M
Other Non-Cash Items	-24.98M	44.07M	-16.94M	17.36M	39.07M	1.49M	-2.42M	-23.82M	14.86M	-9.34M	-8.87M	11.23M	22.09M	-13.33M	-36.84M
Net Cash from Operating Activities	-2.37M	16.83M	-7.13M	29.46M	10.78M	7.01M	5.91M	7.48M	4.79M	14.25M	7.09M	7.56M	29.69M	0.00M	0.00M
Capital Expenditures (PPE)	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
Acquisitions (Net)	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
Purchases of Investments	-166.44M	-222.45M	-93.94M	-64.84M	-152.23M	-82.81M	-125.18M	-113.14M	-236.43M	-159.42M	-166.84M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	155.65M	247.56M	79.80M	89.75M	157.53M	75.86M	129.35M	108.97M	234.11M	159.11M	167.90M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	0.00M	0.00M	14.15M	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 Cash from Investing Activities	-10.79M	25.11M	0.00M	24.91M	5.30M	-6.96M	4.17M	-4.17M	-2.33M	-0.31M	1.06M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	16.10M	-20.12M	17.21M	-20.14M	-1.57M	2.66M	0.33M	0.17M	-1.00M	0.00M	0.00M	5.00M	53.00M	0.00M	0.00M
Long-Term Debt Issuance	11.48M	-21.69M	11.50M	-10.00M	-1.57M	2.66M	4.21M	1.57M	4.23M	0.00M	0.00M	5.00M	53.00M	0.00M	0.00M
Short-Term Debt Issuance	4.62M	0.00M	5.71M	-10.14M	0.00M	2.66M	-3.88M	-1.41M	-5.23M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.46M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.46M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.46M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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
Net Dividends Paid	-19.74M	-18.76M	-9.97M	-9.54M	-9.40M	-9.36M	-9.37M	-9.35M	-9.35M	-10.28M	-12.18M	-12.82M	-12.89M	0.00M	0.00M
Common Dividends Paid	-16.93M	-14.08M	-9.97M	-9.54M	-9.40M	-9.36M	-9.37M	-9.35M	-9.35M	-10.28M	-12.18M	-12.82M	-12.89M	0.00M	0.00M
Preferred Dividends Paid	-2.81M	-4.68M	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	0.00M	1.54M	0.00M	0.00M	0.00M	0.00M	3.71M	1.57M	5.23M	-3.72M	3.72M	0.00M	-69.85M	0.00M	0.00M
Net Cash from Financing Activities	-3.64M	-39.68M	7.24M	-29.68M	-10.97M	-6.71M	-5.78M	-7.62M	-5.11M	-13.99M	-8.46M	-7.82M	-29.74M	0.00M	0.00M
Effect of FX on Cash	7.54M	-3.23M	0.00M	-1.44M	-5.30M	6.96M	-4.17M	4.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	-0.57M	0.40M	0.12M	-0.21M	-0.19M	0.30M	0.12M	-0.14M	-0.32M	0.26M	0.08M	-0.26M	-0.05M	0.00M	0.00M
Cash at Beginning of Period	1.37M	1.60M	0.22M	0.43M	0.62M	0.32M	0.20M	0.33M	0.65M	0.39M	0.31M	0.58M	0.63M	0.00M	0.00M
Cash at End of Period	0.90M	2.00M	0.34M	0.22M	0.43M	0.62M	0.32M	0.20M	0.33M	0.65M	0.39M	0.31M	0.58M	0.00M	0.00M
Operating Cash Flow	0.91M	16.83M	-7.13M	29.46M	10.78M	7.01M	5.91M	7.48M	4.79M	14.25M	7.09M	7.56M	29.69M	0.00M	0.00M
Capital Expenditure	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
Free Cash Flow	0.91M	16.83M	-7.13M	29.46M	10.78M	7.01M	5.91M	7.48M	4.79M	14.25M	7.09M	7.56M	29.69M	0.00M	0.00M

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
EBITDA	0.09M	-0.01M	0.00M	3.24M	-12.25M	0.77M	10.12M	16.16M	-20.48M	5.79M	-1.71M	0.00M	0.00M	0.00M	0.00M
(-) Tax Adjustment	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Change In Working Capital	1.49M	-2.55M	3.49M	-0.30M	-1.03M	2.46M	-3.14M	2.18M	-1.40M	5.78M	-2.89M	4.20M	-3.33M	0.00M	0.00M
(-) Capital Expenditure	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
Unlevered Free Cash Flow	-1.39M	2.54M	-3.49M	3.54M	-11.22M	-1.68M	13.26M	13.98M	-18.70M	0.00M	1.18M	-4.20M	3.33M	0.00M	0.00M
(-) Net Interest Income After Taxes	-0.19M	3.36M	-3.69M	10.47M	11.28M	11.91M	11.96M	11.41M	10.26M	11.10M	0.77M	0.60M	0.25M	0.00M	0.00M
Net Debt Issuance	16.10M	-20.12M	17.21M	-20.14M	-1.57M	2.66M	0.33M	0.17M	-1.00M	0.00M	0.00M	5.00M	53.00M	0.00M	0.00M
Levered Free Cash Flow	14.89M	-20.93M	17.41M	-27.07M	-24.07M	-10.94M	1.63M	2.74M	-29.96M	-11.09M	0.42M	0.20M	56.07M	0.00M	0.00M