Technology Distributors

Category: Industry Averages Base Ticker: 1184.HK

Methodology: Industry metrics are calculated using the Top 100 companies by revenue within the industry. Values shown represent averages, not aggregates, and are winsorized at the 80/20 percentile to reduce the impact of extreme outliers. All financials are USD-normalized and intended to reflect the core economic structure of the industry.

Industry Enterprise Value

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Stock Price	6.27	4.09	3.64	3.52	3.46	2.80	2.69	2.74	2.34	2.21	1.96	1.74	1.60	1.45	1.61	1.82	1.49	1.90	3.48	5.01	6.49	3.92	4.16	2.97	5.74	6.43	11.63	10.13	13.88	10.11	9.31
Market Capitalization	368.76M	205.10M	181.47M	175.54M	195.01M	160.32M	168.56M	162.99M	161.47M	118.00M	113.02M	116.89M	114.57M	91.18M	87.80M	112.12M	99.95M	88.24M	147.60M	149.75M	121.77M	99.02M	121.79M	136.28M	159.18M	158.59M	482.57M	535.31M	638.88M	472.90M	541.01M
(-) Cash & Equivalents	44.71M	47.06M	44.54M	37.57M	35.63M	30.16M	24.88M	21.54M	19.96M	19.88M	22.12M	21.49M	23.41M	22.94M	22.13M	21.43M	20.68M	17.46M	9.59M	12.04M	8.16M	7.36M	8.09M	5.92M	12.05M	8.15M	25.34M	20.73M	16.04M	12.77M	30.89M
(+) Total Debt	49.38M	62.88M	62.93M	61.43M	47.22M	36.45M	38.20M	35.90M	28.96M	24.92M	25.23M	27.56M	27.37M	20.70M	22.92M	24.04M	23.12M	23.97M	18.51M	17.99M	17.38M	15.29M	18.22M	21.11M	15.65M	13.28M	167.06M	170.72M	126.07M	100.27M	144.23M
Enterprise Value	375.01M	239.09M	208.62M	190.32M	221.63M	183.42M	205.04M	179.43M	193.43M	151.85M	134.48M	141.43M	134.84M	101.86M	97.71M	141.95M	119.27M	113.63M	168.36M	159.56M	132.45M	104.49M	132.02M	155.21M	162.55M	169.86M	570.85M	679.97M	749.78M	578.09M	654.35M

Industry Income Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Revenue	557.388M	480.955M	446.147M	453.113M	418.589M	344.280M	333.769M	304.622M	263.697M	262.279M	262.763M	256.900M	262.764M	242.468M	274.866M	312.592M	313.249M	416.975M	295.719M	392.769M	328.664M	208.294M	336.094M	292.365M	377.424M	457.584M	1,580.266M	1,359.710M	1,307.166M	1,227.443M	1,571.830M
Cost of Revenue	452.871M	423.892M	388.868M	400.908M	378.714M	294.984M	284.678M	268.820M	233.762M	233.173M	231.929M	222.759M	219.279M	221.111M	252.559M	281.434M	282.487M	377.097M	269.576M	326.057M	305.468M	193.626M	299.477M	258.846M	333.477M	398.918M	1,342.574M	1,102.199M	1,075.599M	968.782M	1,247.000M
Gross Profit	104.517M	57.064M	57.279M	52.205M	39.875M	49.296M	49.091M	35.803M	29.934M	29.106M	30.834M	34.141M	43.485M	21.357M	22.307M	31.158M	30.762M	39.877M	26.143M	66.711M	23.196M	14.669M	36.617M	33.519M	43.947M	58.666M	237.692M	257.510M	231.567M	258.662M	324.830M
Gross Margin	18.75%	11.86%	12.84%	11.52%	9.53%	14.32%	14.71%	11.75%	11.35%	11.10%	11.73%	13.29%	16.55%	8.81%	8.12%	9.97%	9.82%	9.56%	8.84%	16.98%	7.06%	7.04%	10.89%	11.46%	11.64%	12.82%	15.04%	18.94%	17.72%	21.07%	20.67%
R&D Expenses	0.708M	0.511M	0.446M	0.751M	0.646M	0.598M	0.386M	0.189M	0.140M	0.042M	0.027M	0.000M	0.042M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	39.948M	31.176M	24.908M	24.765M	19.932M	17.873M	20.258M	20.040M	18.095M	18.105M	16.104M	16.350M	16.617M	9.146M	8.705M	9.154M	9.228M	10.964M	10.711M	10.322M	9.208M	10.165M	21.786M	21.058M	30.822M	33.968M	189.145M	154.590M	152.993M	138.254M	147.975M
Operating Expenses	40.656M	31.686M	25.354M	25.516M	20.578M	18.471M	20.644M	20.228M	18.235M	18.148M	16.132M	16.350M	16.659M	9.146M	8.705M	9.154M	9.228M	10.964M	10.711M	10.322M	9.208M	10.165M	21.786M	21.058M	30.822M	33.968M	189.145M	154.590M	152.993M	138.254M	147.975M
Operating Income	63.861M	25.378M	31.925M	26.689M	19.297M	30.825M	28.447M	15.574M	11.700M	10.958M	14.702M	17.791M	26.826M	12.210M	13.603M	22.004M	21.534M	28.914M	15.432M	56.389M	13.988M	4.503M	14.830M	12.461M	13.126M	24.698M	48.547M	102.921M	78.573M	120.407M	176.855M
Operating Margin	11.46%	5.28%	7.16%	5.89%	4.61%	8.95%	8.52%	5.11%	4.44%	4.18%	5.60%	6.93%	10.21%	5.04%	4.95%	7.04%	6.87%	6.93%	5.22%	14.36%	4.26%	2.16%	4.41%	4.26%	3.48%	5.40%	3.07%	7.57%	6.01%	9.81%	11.25%
Interest Income	0.669M	0.688M	0.461M	0.317M	0.264M	0.273M	0.400M	0.226M	0.185M	0.117M	0.111M	0.148M	0.128M	0.147M	0.066M	0.068M	0.082M	0.203M	0.121M	0.097M	0.058M	0.012M	0.010M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.009M
Interest Expense	3.299M	3.015M	3.194M	2.212M	1.896M	1.244M	1.400M	1.463M	1.236M	1.119M	1.297M	1.114M	0.886M	0.712M	0.774M	1.258M	1.204M	1.336M	0.572M	0.652M	0.528M	0.302M	0.390M	0.587M	0.286M	0.149M	0.134M	0.335M	0.174M	0.445M	0.189M
Net Interest Income	-2.630M	-2.327M	-2.733M	-1.895M	-1.633M	-0.971M	-1.001M	-1.238M	-1.051M	-1.002M	-1.186M	-0.966M	-0.758M	-0.566M	-0.708M	-1.189M	-1.121M	-1.133M	-0.451M	-0.555M	-0.470M	-0.290M	-0.380M	-0.587M	-0.286M	-0.149M	-0.134M	-0.335M	-0.174M	-0.445M	-0.180M
Other Income / Expense	-39.166M	-6.329M	-11.851M	-4.140M	2.258M	-20.338M	-16.332M	-2.275M	-0.637M	-1.859M	-5.647M	-8.773M	-20.052M	-5.258M	-5.264M	-12.915M	-15.846M	-17.795M	-5.870M	-43.114M	-2.580M	2.965M	-10.669M	-9.342M	-4.478M	-6.399M	6.622M	-41.578M	-5.840M	-44.509M	-84.336M
Pre-Tax Income	22.065M	16.722M	17.341M	20.654M	19.923M	9.516M	11.114M	12.062M	10.012M	8.097M	7.870M	8.052M	6.016M	6.386M	7.631M	7.900M	4.567M	9.986M	9.110M	12.720M	10.938M	7.178M	3.781M	2.533M	8.361M	18.150M	55.034M	61.007M	72.559M	75.453M	92.339M
Pre-Tax Margin	3.96%	3.48%	3.89%	4.56%	4.76%	2.76%	3.33%	3.96%	3.80%	3.09%	2.99%	3.13%	2.29%	2.63%	2.78%	2.53%	1.46%	2.39%	3.08%	3.24%	3.33%	3.45%	1.12%	0.87%	2.22%	3.97%	3.48%	4.49%	5.55%	6.15%	5.87%
Income Tax Expense	5.254M	3.578M	3.602M	4.338M	3.490M	2.422M	2.482M	2.736M	1.893M	1.979M	2.518M	2.190M	1.524M	1.697M	2.327M	2.292M	1.730M	2.607M	2.111M	2.756M	2.445M	1.382M	0.584M	0.604M	1.490M	6.434M	23.189M	24.962M	30.170M	31.359M	38.883M
Tax Rate	23.81%	21.39%	20.77%	21.00%	17.52%	25.45%	22.33%	22.69%	18.91%	24.44%	31.99%	27.20%	25.33%	26.57%	30.50%	29.01%	35.00%	26.11%	23.17%	21.67%	22.35%	19.25%	15.46%	23.86%	17.83%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%
Net Income	16.811M	13.144M	13.739M	16.316M	16.432M	7.094M	8.632M	9.325M	8.118M	6.118M	5.352M	5.862M	4.492M	4.689M	5.304M	5.608M	2.837M	7.378M	7.000M	9.963M	8.493M	5.796M	3.197M	1.928M	6.871M	11.715M	31.845M	36.045M	42.389M	44.094M	53.456M
Net Margin	3.02%	2.73%	3.08%	3.60%	3.93%	2.06%	2.59%	3.06%	3.08%	2.33%	2.04%	2.28%	1.71%	1.93%	1.93%	1.79%	0.91%	1.77%	2.37%	2.54%	2.58%	2.78%	0.95%	0.66%	1.82%	2.56%	2.02%	2.65%	3.24%	3.59%	3.40%
EBIT	63.861M	25.378M	31.925M	26.689M	19.297M	30.825M	28.447M	15.574M	11.700M	10.958M	14.702M	17.791M	26.826M	12.210M	13.603M	22.004M	21.534M	28.914M	15.432M	56.389M	13.988M	4.503M	14.830M	12.461M	13.126M	24.698M	48.547M	102.921M	78.573M	120.407M	176.855M
Depreciation & Amortization	4.239M	4.031M	4.126M	3.824M	3.271M	3.110M	2.523M	1.819M	1.653M	1.297M	1.327M	1.172M	1.282M	1.221M	1.546M	1.952M	1.991M	2.123M	1.787M	2.130M	2.144M	1.839M	2.487M	2.746M	1.657M	1.167M	12.858M	11.183M	11.734M	9.435M	9.124M
EBITDA	68.099M	29.409M	36.050M	30.513M	22.569M	33.935M	30.970M	17.393M	13.353M	12.255M	16.029M	18.963M	28.108M	13.431M	15.148M	23.956M	23.525M	31.037M	17.219M	58.519M	16.132M	6.342M	17.317M	15.207M	14.782M	25.865M	61.405M	114.104M	90.307M	129.842M	185.979M
EBITDA Margin	12.22%	6.11%	8.08%	6.73%	5.39%	9.86%	9.28%	5.71%	5.06%	4.67%	6.10%	7.38%	10.70%	5.54%	5.51%	7.66%	7.51%	7.44%	5.82%	14.90%	4.91%	3.04%	5.15%	5.20%	3.92%	5.65%	3.89%	8.39%	6.91%	10.58%	11.83%
NOPAT	48.653M	19.948M	25.293M	21.083M	15.917M	22.980M	22.094M	12.041M	9.487M	8.280M	9.999M	12.952M	20.030M	8.966M	9.454M	15.619M	13.997M	21.364M	11.856M	44.169M	10.861M	3.636M	12.538M	9.488M	10.786M	16.054M	31.555M	66.898M	51.073M	78.265M	114.956M
NOPAT Margin	8.73%	4.15%	5.67%	4.65%	3.80%	6.67%	6.62%	3.95%	3.60%	3.16%	3.81%	5.04%	7.62%	3.70%	3.44%	5.00%	4.47%	5.12%	4.01%	11.25%	3.30%	1.75%	3.73%	3.25%	2.86%	3.51%	2.00%	4.92%	3.91%	6.38%	7.31%
Owner's Earnings	21.049M	17.175M	17.864M	20.141M	19.704M	10.204M	11.155M	11.144M	9.771M	7.415M	6.679M	7.034M	5.774M	5.910M	6.850M	7.559M	4.828M	9.501M	8.787M	12.093M	10.636M	7.636M	5.684M	4.674M	8.527M	12.882M	44.703M	47.228M	54.123M	53.529M	62.580M
Owner's Earnings Margin	3.78%	3.57%	4.00%	4.44%	4.71%	2.96%	3.34%	3.66%	3.71%	2.83%	2.54%	2.74%	2.20%	2.44%	2.49%	2.42%	1.54%	2.28%	2.97%	3.08%	3.24%	3.67%	1.69%	1.60%	2.26%	2.82%	2.83%	3.47%	4.14%	4.36%	3.98%
EPS	0.06	0.05	0.05	0.06	0.06	0.03	0.03	0.03	0.03	0.02	0.03	0.03	0.03	0.03	0.04	0.04	0.02	0.06	0.05	0.07	0.07	0.04	0.02	0.02	0.10	0.12	0.35	0.41	0.45	0.46	1.46
EPS (Diluted)	0.06	0.05	0.05	0.06	0.06	0.03	0.03	0.03	0.03	0.02	0.03	0.03	0.03	0.03	0.04	0.04	0.02	0.06	0.05	0.07	0.07	0.04	0.02	0.02	0.10	0.12	0.35	0.41	0.45	0.46	1.46
Shares (Diluted)	288,742,098	289,078,488	277,839,883	290,191,221	283,695,608	273,832,748	247,884,152	274,327,139	267,211,412	252,995,157	199,478,867	183,995,088	177,369,083	173,405,268	145,611,958	144,549,457	141,486,534	127,919,667	151,997,351	136,330,945	128,775,702	144,412,175	181,553,997	120,351,219	71,388,904	95,077,919	90,168,274	88,806,604	95,008,694	96,704,360	36,491,698

Industry Balance Sheet

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Cash & Cash Equivalents	46.24M	47.06M	44.55M	37.57M	35.63M	30.16M	24.88M	21.54M	19.96M	19.88M	22.12M	21.49M	23.41M	22.94M	22.13M	21.43M	20.68M	17.46M	9.59M	12.04M	8.41M	7.91M	8.09M	5.92M	12.05M	13.60M	25.34M	20.73M	16.04M	12.77M	30.89M
Short-Term Investments	12.45M	9.26M	10.43M	5.37M	6.24M	4.99M	3.99M	4.78M	3.57M	2.86M	1.49M	1.31M	1.46M	2.02M	2.58M	2.42M	1.50M	1.09M	2.51M	1.98M	4.17M	3.64M	0.99M	1.63M	0.00M	0.04M	2.69M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	58.68M	56.32M	54.98M	42.94M	41.87M	35.15M	28.87M	26.33M	23.54M	22.74M	23.61M	22.80M	24.87M	24.96M	24.71M	23.85M	22.18M	18.55M	12.10M	14.02M	12.59M	11.54M	9.08M	7.54M	12.05M	13.64M	28.03M	20.73M	16.04M	12.77M	30.89M
Net Receivables	100.18M	100.58M	91.33M	90.64M	83.39M	65.50M	60.29M	59.45M	56.84M	50.57M	49.35M	47.15M	46.05M	39.69M	39.14M	38.99M	53.18M	47.41M	27.61M	31.26M	51.69M	37.31M	43.43M	46.01M	27.11M	35.78M	217.17M	199.65M	187.53M	187.52M	250.39M
Inventory	64.57M	75.45M	70.87M	71.74M	66.63M	40.37M	40.35M	40.69M	32.84M	30.16M	31.22M	28.55M	29.15M	28.23M	27.96M	30.23M	27.34M	32.28M	26.27M	26.83M	30.87M	27.78M	32.60M	36.54M	22.13M	33.32M	223.09M	234.11M	241.50M	218.40M	271.75M
Other Current Assets	8.16M	6.16M	6.23M	7.16M	6.35M	7.47M	6.45M	7.69M	7.81M	7.69M	7.74M	10.59M	8.08M	4.26M	3.16M	4.38M	4.24M	3.31M	4.54M	6.77M	6.05M	5.19M	12.52M	7.52M	4.61M	7.82M	9.98M	7.98M	8.26M	6.96M	1.00M
Total Current Assets	231.59M	238.50M	223.41M	212.47M	198.24M	148.49M	135.96M	134.16M	121.03M	111.16M	111.92M	109.09M	108.13M	97.14M	94.97M	97.45M	106.94M	101.55M	70.52M	78.88M	101.20M	81.83M	97.62M	97.61M	65.90M	90.55M	478.28M	462.47M	453.34M	425.65M	554.03M
Property, Plant & Equipment	32.21M	25.96M	27.06M	25.09M	23.10M	23.31M	21.92M	19.79M	16.00M	13.63M	12.34M	11.45M	11.62M	13.25M	12.85M	14.44M	14.46M	14.62M	10.61M	11.99M	11.16M	10.27M	12.65M	13.91M	12.18M	14.96M	49.43M	39.77M	31.90M	31.81M	30.88M
Goodwill	6.33M	5.01M	5.57M	4.99M	4.45M	2.08M	2.18M	1.86M	1.60M	0.87M	0.69M	1.01M	0.85M	0.45M	0.52M	0.53M	0.48M	0.56M	1.27M	0.77M	0.14M	0.09M	0.14M	0.89M	0.00M	0.00M	0.04M	92.18M	105.99M	86.40M	94.80M
Intangible Assets	4.79M	2.92M	2.76M	2.88M	3.07M	3.34M	2.90M	2.53M	2.29M	2.09M	1.91M	1.79M	2.28M	2.05M	2.13M	2.26M	3.18M	2.00M	1.19M	1.42M	1.62M	0.69M	3.85M	0.41M	0.32M	0.44M	4.06M	0.37M	0.51M	0.33M	0.00M
Long-Term Investments	11.62M	8.22M	12.25M	8.77M	9.24M	6.41M	8.17M	8.41M	6.72M	4.91M	4.19M	2.82M	2.07M	1.35M	0.73M	1.41M	1.23M	0.57M	0.39M	0.47M	1.36M	1.69M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.91M	0.78M	1.39M	1.53M	1.16M	1.35M	1.12M	0.68M	0.85M	0.70M	0.85M	0.78M	0.93M	0.67M	0.88M	0.79M	1.05M	0.86M	0.66M	0.42M	0.63M	0.24M	0.16M	0.12M	0.00M	0.00M	1.46M	0.00M	0.00M	0.01M	0.21M
Other Non-Current Assets	6.63M	10.92M	3.65M	10.49M	8.79M	7.07M	3.50M	4.23M	4.93M	3.94M	3.91M	3.21M	3.31M	6.29M	7.40M	7.41M	4.72M	5.82M	7.43M	5.20M	2.67M	1.94M	3.48M	3.45M	3.04M	4.95M	20.10M	10.24M	9.19M	8.63M	25.99M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	62.48M	53.81M	52.68M	53.74M	49.81M	43.55M	39.79M	37.49M	32.39M	26.14M	23.89M	21.08M	21.07M	24.05M	24.51M	26.85M	25.11M	24.44M	21.54M	20.27M	17.58M	14.93M	20.28M	18.78M	15.54M	20.35M	75.09M	142.56M	147.59M	127.18M	151.88M
Total Assets	294.08M	292.31M	276.09M	266.21M	248.04M	192.04M	175.75M	171.65M	153.42M	137.30M	135.82M	130.16M	129.20M	121.19M	119.48M	124.30M	132.06M	125.99M	92.06M	99.16M	118.78M	96.75M	117.91M	116.40M	81.44M	110.90M	553.37M	605.03M	600.93M	552.83M	705.92M
Accounts Payable	51.81M	71.92M	61.62M	56.03M	65.55M	42.92M	39.90M	37.41M	34.74M	31.98M	32.66M	30.91M	28.79M	39.70M	35.22M	37.21M	31.20M	35.36M	31.72M	36.58M	32.57M	27.35M	30.70M	26.84M	22.74M	31.65M	122.16M	110.08M	109.97M	90.00M	158.26M
Short-Term Debt	31.47M	34.18M	38.41M	33.29M	24.24M	19.93M	26.20M	18.62M	19.11M	15.00M	16.20M	19.38M	17.63M	15.39M	13.49M	16.03M	14.39M	17.99M	10.41M	11.52M	15.35M	10.62M	11.70M	9.54M	4.47M	9.45M	7.38M	5.64M	12.31M	6.71M	31.18M
Tax Payables	0.42M	2.41M	1.85M	1.94M	1.89M	1.53M	1.44M	1.48M	1.27M	1.10M	1.12M	1.18M	0.87M	0.82M	0.86M	0.61M	0.51M	0.65M	0.51M	0.52M	0.65M	0.23M	0.10M	0.07M	0.05M	0.25M	0.38M	0.23M	0.12M	0.35M	0.26M
Deferred Revenue	0.16M	0.23M	2.26M	4.34M	6.86M	3.83M	2.93M	2.25M	2.02M	2.26M	1.98M	2.21M	1.90M	2.06M	1.75M	2.41M	1.98M	2.16M	1.31M	0.98M	0.40M	0.10M	0.11M	0.08M	0.23M	0.62M	0.29M	1.15M	0.82M	0.25M	50.64M
Other Current Liabilities	20.40M	13.95M	10.79M	11.84M	8.14M	8.17M	6.37M	7.71M	6.87M	6.00M	6.51M	5.42M	6.86M	5.64M	4.54M	9.74M	5.62M	7.75M	6.55M	4.86M	7.84M	5.78M	2.75M	3.17M	1.65M	2.97M	2.96M	2.54M	2.10M	1.33M	0.54M
Total Current Liabilities	104.25M	122.69M	114.94M	107.44M	106.68M	76.39M	76.84M	67.47M	64.00M	56.33M	58.48M	59.09M	56.04M	63.59M	55.86M	66.00M	53.70M	63.91M	50.51M	54.47M	56.80M	44.07M	45.36M	39.70M	29.14M	44.94M	133.18M	119.64M	125.32M	98.64M	240.88M
Long-Term Debt	5.81M	9.23M	8.50M	10.60M	10.26M	7.43M	4.33M	7.36M	5.29M	4.53M	3.87M	1.81M	3.46M	2.46M	3.70M	4.69M	5.28M	6.71M	6.42M	8.28M	5.11M	2.61M	3.73M	10.92M	8.59M	8.35M	161.57M	167.04M	118.61M	79.97M	113.05M
Capital Lease Obligations	0.98M	2.92M	2.56M	2.56M	2.14M	2.10M	0.83M	0.03M	0.03M	0.02M	0.01M	0.01M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.08M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.46M	1.30M	1.36M	1.70M	1.82M	1.54M	1.35M	1.61M	0.95M	0.89M	0.85M	0.30M	0.28M	0.16M	0.23M	0.32M	0.26M	0.24M	0.27M	0.31M	0.27M	0.27M	0.11M	0.14M	0.00M	0.01M	0.33M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	2.89M	2.48M	2.13M	2.97M	2.44M	2.36M	1.39M	2.19M	1.66M	1.39M	1.11M	1.15M	1.14M	1.11M	1.63M	1.71M	1.38M	0.79M	0.59M	0.58M	0.93M	0.86M	0.30M	0.39M	0.02M	0.10M	1.18M	0.04M	0.04M	0.03M	17.43M
Total Non-Current Liabilities	10.14M	15.92M	14.54M	17.83M	16.66M	13.43M	7.90M	11.19M	7.92M	6.84M	5.84M	3.27M	4.88M	3.75M	5.57M	6.71M	6.92M	7.73M	7.27M	9.17M	6.31M	3.75M	4.13M	11.45M	8.61M	8.54M	163.08M	167.08M	118.65M	80.00M	130.48M
Total Liabilities	114.39M	138.62M	129.48M	125.27M	123.34M	89.82M	84.74M	78.66M	71.92M	63.18M	64.32M	62.36M	60.93M	67.34M	61.43M	72.72M	60.62M	71.64M	57.78M	63.64M	63.11M	47.82M	49.49M	51.15M	37.75M	53.48M	296.26M	286.71M	243.98M	178.64M	371.35M
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	0.01M	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	20.96M	18.34M	17.86M	20.59M	19.39M	20.16M	17.85M	16.34M	14.67M	14.56M	13.93M	11.75M	11.56M	13.15M	17.67M	19.10M	16.90M	17.07M	9.90M	8.88M	12.34M	6.25M	6.51M	7.30M	10.78M	12.23M	17.42M	10.87M	12.74M	12.29M	12.93M
Retained Earnings	89.66M	80.65M	75.31M	71.79M	62.73M	51.58M	46.91M	43.01M	40.66M	32.72M	26.17M	30.75M	26.12M	26.77M	25.36M	35.90M	32.13M	37.46M	26.03M	28.15M	22.92M	8.86M	19.76M	18.97M	15.51M	21.46M	260.65M	231.02M	219.83M	181.14M	153.72M
Accumulated OCI	5.00M	4.55M	3.75M	5.22M	5.25M	3.03M	2.21M	1.75M	2.13M	1.34M	1.28M	0.23M	-0.41M	-0.16M	-0.16M	-0.32M	-0.04M	0.00M	0.08M	0.05M	0.13M	0.89M	0.02M	-0.25M	-1.08M	-1.72M	-8.06M	-6.39M	-7.71M	-0.94M	3.08M
Minority Interest	1.98M	1.33M	1.60M	1.95M	1.81M	1.52M	1.65M	1.29M	0.89M	0.66M	0.65M	0.55M	0.52M	0.46M	0.36M	0.57M	0.67M	0.57M	0.46M	0.33M	0.40M	0.24M	0.40M	0.43M	0.02M	0.06M	0.50M	0.44M	0.11M	0.00M	24.45M
Total Shareholders’ Equity	115.61M	103.54M	96.92M	97.59M	87.37M	74.76M	66.97M	61.11M	57.46M	48.62M	41.37M	42.72M	37.29M	39.77M	42.87M	54.67M	48.99M	54.54M	36.01M	37.08M	35.38M	16.00M	26.28M	26.02M	25.21M	31.97M	270.01M	235.50M	224.86M	192.49M	169.73M
Total Equity	117.59M	104.87M	98.51M	99.54M	89.18M	76.28M	68.62M	62.40M	58.35M	49.27M	42.02M	43.27M	37.81M	40.23M	43.23M	55.25M	49.67M	55.10M	36.48M	37.41M	35.78M	16.24M	26.68M	26.45M	25.23M	32.03M	270.51M	235.94M	224.97M	192.49M	194.18M
Total Liabilities & Equity	231.98M	243.49M	227.99M	224.81M	212.52M	166.09M	153.36M	141.05M	130.27M	112.45M	106.34M	105.63M	98.73M	107.57M	104.66M	127.96M	110.28M	126.75M	94.25M	101.04M	98.89M	64.07M	76.17M	77.61M	62.98M	85.51M	566.77M	522.66M	468.94M	371.13M	565.54M
Tangible Assets	282.96M	284.38M	267.76M	258.34M	240.52M	186.62M	170.67M	167.26M	149.54M	134.34M	133.21M	127.36M	126.07M	118.69M	116.83M	121.51M	128.40M	123.43M	89.61M	96.96M	117.03M	95.97M	113.92M	115.09M	81.12M	110.46M	549.27M	512.48M	494.44M	466.09M	611.12M
Tangible Equity	106.47M	96.94M	90.19M	91.68M	81.66M	70.85M	63.54M	58.00M	54.46M	46.31M	39.42M	40.47M	34.68M	37.73M	40.59M	52.46M	46.01M	52.54M	34.02M	35.21M	34.02M	15.46M	22.69M	25.15M	24.91M	31.59M	266.41M	143.39M	118.47M	105.76M	99.38M
Tangible Book Value	106.47M	96.94M	90.19M	91.68M	81.66M	70.85M	63.54M	58.00M	54.46M	46.31M	39.42M	40.47M	34.68M	37.73M	40.59M	52.46M	46.01M	52.54M	34.02M	35.21M	34.02M	15.46M	22.69M	25.15M	24.91M	31.59M	266.41M	143.39M	118.47M	105.76M	99.38M
Total Investments	24.82M	11.71M	17.10M	12.13M	13.19M	11.60M	9.70M	9.40M	8.09M	5.75M	5.60M	5.04M	4.56M	4.25M	5.53M	5.12M	4.39M	4.97M	5.78M	6.09M	8.23M	3.45M	2.73M	2.26M	0.69M	0.12M	0.22M	0.00M	0.00M	0.00M	0.00M
Net Debt	-8.97M	-3.65M	2.35M	6.32M	-1.13M	-2.80M	5.65M	4.44M	4.44M	-0.35M	-2.05M	-0.30M	-2.32M	-5.09M	-4.94M	-0.71M	-1.02M	7.24M	7.24M	7.76M	12.05M	5.32M	7.34M	14.54M	1.02M	4.20M	143.61M	151.94M	114.88M	73.92M	113.34M

Industry Capital

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Working Capital	125.33M	91.79M	98.24M	81.69M	86.30M	66.78M	58.37M	51.20M	45.18M	64.78M	47.21M	60.21M	51.95M	46.58M	65.59M	67.45M	58.43M	41.70M	39.09M	57.63M	50.26M	28.70M	44.08M	48.07M	41.38M	41.42M	341.95M	316.31M	304.97M	296.41M	319.58M
Total Capital	224.56M	212.38M	203.04M	201.08M	182.08M	155.89M	149.74M	136.66M	120.74M	109.68M	115.43M	112.55M	105.70M	100.33M	112.18M	111.88M	94.45M	96.92M	85.43M	99.01M	98.80M	74.65M	78.40M	80.99M	77.25M	86.92M	492.10M	463.98M	444.59M	415.38M	460.77M
Capital Employed	225.83M	211.48M	218.92M	175.53M	168.32M	151.13M	143.64M	121.20M	112.14M	117.12M	114.62M	116.35M	108.18M	92.38M	110.36M	124.91M	115.64M	125.44M	82.95M	115.05M	105.35M	55.59M	66.51M	69.27M	83.74M	151.27M	490.29M	460.21M	468.83M	461.90M	471.47M
Invested Capital	178.32M	165.32M	158.48M	163.51M	146.45M	125.73M	124.86M	115.12M	100.77M	89.80M	93.32M	91.06M	82.29M	77.40M	90.05M	90.44M	73.77M	79.45M	75.85M	86.97M	90.39M	66.75M	70.31M	75.08M	65.20M	73.32M	466.76M	443.25M	428.55M	402.61M	429.88M

Industry Cash Flow Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Depreciation & Amortization	2.85M	4.60M	4.25M	4.13M	3.48M	3.15M	2.57M	1.81M	1.68M	1.31M	1.33M	1.17M	1.41M	1.55M	1.60M	1.93M	2.01M	2.32M	1.87M	2.17M	2.28M	2.08M	2.49M	2.75M	1.78M	2.03M	11.82M	12.35M	14.52M	11.71M	9.12M
Deferred Income Tax	0.00M	0.00M	0.00M	-0.05M	0.00M	0.00M	0.00M	0.00M	-0.01M	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	0.04M	0.00M	-0.09M	0.08M	-0.78M	-0.14M	-1.58M	0.15M	2.78M
Stock-Based Compensation	0.00M	0.00M	0.01M	0.05M	0.03M	0.02M	0.01M	0.00M	0.00M	0.02M	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
Change in Working Capital	-4.14M	2.01M	-4.86M	-16.25M	-9.59M	1.74M	-4.38M	-5.59M	-3.58M	-3.22M	-2.06M	-5.12M	-1.48M	-0.50M	-6.46M	-4.00M	5.10M	0.40M	-4.87M	0.68M	-3.37M	-3.28M	-1.03M	-1.57M	2.21M	-11.89M	-3.16M	-44.68M	-16.84M	-7.09M	-98.67M
Accounts Receivable	-3.83M	-4.57M	-5.99M	-6.88M	-11.00M	-2.06M	-3.02M	-3.20M	-5.07M	-1.36M	-1.76M	-2.78M	-1.36M	-1.09M	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	-55.45M
Inventory	-1.43M	1.65M	0.46M	-10.85M	-7.55M	0.06M	-0.87M	-3.67M	-2.01M	-0.35M	-1.70M	-3.05M	-1.09M	-0.79M	-2.88M	-1.67M	2.83M	-0.06M	-2.38M	-0.69M	-0.64M	-2.49M	-0.55M	-0.15M	1.63M	-4.18M	-0.45M	-8.40M	-28.12M	-6.49M	-77.20M
Accounts Payable	-0.01M	2.77M	-0.80M	3.89M	6.98M	2.49M	0.21M	3.61M	4.73M	0.31M	0.17M	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 Working Capital	-1.07M	0.78M	-1.58M	-0.24M	0.42M	0.74M	-0.14M	-1.64M	-0.95M	-1.22M	1.37M	-1.08M	-0.49M	-0.44M	-1.11M	-0.03M	-0.91M	-0.19M	-1.23M	1.11M	-2.10M	2.30M	-0.24M	-2.28M	-0.84M	-1.10M	6.25M	-26.36M	7.03M	-2.79M	33.98M
Other Non-Cash Items	-0.17M	-0.20M	0.83M	0.17M	0.86M	1.77M	1.35M	0.35M	0.23M	0.21M	-0.59M	-0.04M	0.33M	0.06M	0.85M	0.13M	1.09M	-0.83M	-0.16M	-0.11M	-0.76M	1.64M	2.24M	2.55M	2.27M	3.10M	5.95M	3.49M	2.33M	4.85M	4.19M
Net Cash from Operating Activities	12.28M	19.69M	13.87M	3.62M	8.11M	15.18M	7.17M	6.05M	4.23M	5.99M	7.20M	3.09M	6.10M	7.26M	2.89M	4.67M	12.90M	9.16M	1.00M	8.35M	2.98M	4.36M	0.89M	2.28M	10.41M	-1.65M	7.68M	9.77M	-0.72M	-0.84M	-28.56M
Capital Expenditures (PPE)	-2.53M	-2.88M	-3.49M	-3.11M	-2.15M	-2.45M	-2.54M	-2.17M	-1.84M	-2.13M	-1.42M	-1.55M	-1.82M	-3.20M	-2.52M	-2.10M	-2.53M	-3.39M	-2.84M	-2.92M	-2.62M	-1.29M	-1.35M	-3.69M	-3.00M	-4.82M	-4.65M	-10.62M	-9.91M	-17.30M	-10.91M
Acquisitions (Net)	0.00M	0.00M	-0.04M	-0.14M	0.08M	-0.04M	0.01M	-0.06M	-0.04M	-0.04M	-0.02M	0.00M	-0.01M	0.00M	-0.03M	-0.17M	-0.20M	0.01M	0.02M	-0.11M	-0.28M	-0.13M	-0.16M	-4.81M	-0.33M	0.00M	0.00M	0.00M	-0.39M	0.00M	-14.78M
Purchases of Investments	-1.59M	-2.55M	-2.25M	-3.59M	-2.48M	-1.51M	-1.45M	-1.30M	-1.41M	-0.94M	-0.88M	-0.39M	-0.34M	-0.32M	-0.75M	-0.51M	-0.21M	-0.77M	-0.46M	-1.50M	-1.76M	-1.67M	-0.07M	-0.22M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.93M	2.24M	2.51M	2.14M	1.75M	1.47M	1.10M	2.30M	1.08M	0.80M	0.83M	0.39M	0.62M	0.13M	0.33M	0.49M	0.35M	0.73M	1.50M	1.00M	0.80M	0.99M	0.11M	0.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	0.23M	0.51M	0.32M	0.40M	0.64M	0.17M	-0.23M	0.02M	0.15M	0.26M	0.50M	0.10M	0.10M	0.19M	0.23M	0.19M	0.24M	0.40M	0.43M	0.34M	-0.11M	1.12M	0.71M	0.25M	0.62M	-1.29M	67.96M	-0.24M	-0.03M	0.00M	-8.18M
Net Cash from Investing Activities	-7.93M	-7.08M	-3.77M	-5.91M	-2.83M	-3.49M	-4.57M	-2.99M	-3.87M	-3.53M	-1.82M	-2.82M	-2.22M	-3.57M	-2.64M	-3.67M	-2.88M	-4.13M	-2.07M	-5.33M	-4.38M	-2.78M	-2.61M	-8.48M	-6.53M	-6.22M	-5.13M	-3.33M	-12.63M	-18.81M	-33.86M
Net Debt Issuance	1.85M	2.63M	4.35M	5.21M	1.28M	-2.66M	1.82M	1.46M	1.44M	-0.16M	-0.95M	1.14M	0.32M	1.42M	1.71M	1.48M	-2.93M	-0.09M	0.87M	-1.48M	-2.40M	-1.49M	0.24M	0.07M	-0.71M	6.05M	0.14M	47.31M	12.16M	4.91M	59.13M
Long-Term Debt Issuance	-0.50M	0.09M	-0.81M	0.93M	2.75M	0.24M	-0.30M	0.18M	0.49M	0.09M	0.11M	-0.14M	0.78M	0.69M	0.42M	1.37M	-0.58M	-0.55M	0.90M	0.25M	-0.73M	-1.58M	0.09M	-0.83M	-0.45M	5.70M	0.79M	42.05M	10.48M	4.21M	59.13M
Short-Term Debt Issuance	1.34M	0.14M	0.97M	0.27M	-0.22M	-0.43M	-0.20M	0.35M	0.15M	0.17M	-0.13M	0.11M	0.00M	0.03M	0.47M	0.38M	-1.07M	-0.36M	0.04M	-0.84M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	0.00M	-0.35M	-0.04M	-0.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.15M	0.07M	0.00M	0.11M	0.13M	0.01M	0.15M	0.17M	1.61M	0.26M	0.36M	1.50M	0.05M	-4.08M	-43.85M	-0.08M	10.78M
Common Stock Issuance	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.02M	0.00M	0.02M	0.02M	0.02M	0.04M	0.00M	0.00M	0.17M	0.11M	0.01M	0.18M	0.28M	0.25M	0.13M	0.15M	1.55M	0.28M	0.37M	1.41M	0.32M	6.82M	0.07M	2.49M	10.78M
Common Stock Repurchased	0.00M	-0.35M	-0.14M	-0.14M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.03M	-0.10M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	-0.04M	-0.02M	-0.22M	-11.38M	-40.72M	-0.31M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-2.20M	-4.86M	-4.16M	-3.94M	-3.12M	-2.32M	-2.14M	-1.82M	-1.81M	-2.23M	-1.71M	-1.40M	-1.37M	-1.67M	-1.57M	-0.99M	-1.40M	-1.84M	-1.43M	-1.30M	-1.17M	-0.66M	-0.41M	-0.61M	-1.14M	-0.25M	-2.03M	-7.90M	-5.07M	-2.29M	0.00M
Common Dividends Paid	-2.20M	-4.82M	-4.13M	-3.94M	-3.12M	-2.43M	-2.54M	-1.82M	-1.82M	-2.23M	-1.71M	-1.40M	-1.36M	-1.72M	-1.57M	-0.99M	-1.41M	-1.98M	-1.43M	-1.28M	-1.09M	-0.61M	-0.32M	-0.82M	-1.06M	0.00M	-2.03M	-7.89M	-5.00M	-2.29M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-1.17M	-1.60M	-2.81M	-0.94M	-1.30M	-1.31M	-0.56M	-0.39M	-0.21M	0.16M	-0.16M	0.23M	-0.21M	-0.29M	0.12M	0.02M	-0.05M	0.03M	0.31M	0.35M	0.11M	0.04M	-0.35M	-0.45M	2.04M	0.30M	7.22M	0.05M	1.20M	-0.52M	-7.30M
Net Cash from Financing Activities	-7.29M	-8.17M	-5.92M	1.03M	-1.52M	-7.34M	-2.62M	-1.36M	-1.02M	-0.83M	-2.84M	0.10M	-1.92M	-1.37M	0.21M	1.05M	-2.49M	-0.94M	-0.66M	-1.83M	-3.05M	-2.31M	2.00M	-0.45M	-0.69M	7.64M	16.24M	2.87M	4.53M	5.01M	62.60M
Effect of FX on Cash	0.01M	-0.01M	0.04M	0.25M	0.02M	-0.07M	0.01M	0.03M	-0.06M	-0.17M	0.02M	0.02M	0.04M	-0.02M	0.00M	-0.03M	-0.10M	-0.03M	0.10M	-0.02M	0.00M	0.03M	0.05M	0.15M	-0.05M	-0.03M	-0.08M	-1.52M	-1.17M	4.32M	1.03M
Net Change in Cash	2.80M	5.11M	3.81M	-1.92M	1.51M	4.56M	1.00M	0.40M	-0.75M	1.27M	1.64M	2.28M	0.29M	1.56M	0.96M	2.70M	3.00M	3.03M	0.66M	0.78M	-0.12M	0.20M	1.17M	-0.87M	1.87M	-3.00M	15.55M	8.43M	3.58M	4.57M	1.20M
Cash at Beginning of Period	25.68M	41.50M	33.40M	35.09M	30.00M	23.52M	19.93M	19.70M	19.08M	17.82M	17.20M	18.10M	19.34M	20.09M	19.68M	19.41M	14.87M	12.49M	10.65M	7.17M	8.26M	6.16M	6.11M	11.31M	5.54M	13.80M	20.61M	15.89M	16.19M	18.24M	27.68M
Cash at End of Period	44.99M	43.38M	41.26M	33.88M	34.78M	29.88M	23.63M	19.88M	19.28M	18.98M	19.26M	17.51M	22.36M	20.52M	23.42M	21.30M	19.47M	16.88M	10.06M	10.64M	7.95M	8.11M	8.19M	5.76M	12.10M	12.29M	25.34M	23.36M	22.00M	21.06M	28.88M
Operating Cash Flow	12.04M	19.69M	13.84M	3.43M	8.09M	15.14M	7.17M	6.05M	4.23M	5.99M	7.20M	3.09M	6.10M	7.26M	2.89M	4.67M	12.90M	9.16M	1.00M	8.35M	2.98M	4.36M	0.89M	2.28M	10.41M	-1.65M	7.68M	9.77M	-0.72M	-0.84M	-28.56M
Capital Expenditure	-2.69M	-3.16M	-3.64M	-3.12M	-2.15M	-2.44M	-2.54M	-2.17M	-1.84M	-2.13M	-1.42M	-1.55M	-1.83M	-3.20M	-2.52M	-2.10M	-2.53M	-3.37M	-2.84M	-2.92M	-2.62M	-1.29M	-1.35M	-3.69M	-3.00M	-4.82M	-4.65M	-10.62M	-9.91M	-17.30M	-10.91M
Free Cash Flow	10.54M	14.44M	7.65M	-1.13M	6.00M	12.06M	3.05M	2.61M	1.55M	3.77M	5.07M	1.06M	3.04M	3.34M	-0.48M	2.08M	9.32M	5.52M	-1.41M	4.39M	1.14M	2.61M	0.34M	-0.80M	8.60M	-6.20M	1.04M	-4.12M	-3.35M	-5.50M	-39.47M

Industry Free Cash Flow

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
EBITDA	30.63M	25.92M	23.79M	25.10M	24.55M	15.77M	16.75M	14.29M	13.77M	11.04M	10.43M	9.93M	10.14M	8.46M	10.86M	13.83M	7.09M	12.07M	10.81M	15.53M	17.51M	10.30M	13.09M	11.49M	13.39M	20.85M	94.45M	73.41M	89.40M	91.21M	118.50M
(-) Tax Adjustment	7.30M	5.55M	4.94M	5.27M	4.30M	4.01M	3.74M	3.24M	2.60M	2.70M	3.34M	2.70M	2.57M	2.25M	3.31M	4.01M	2.68M	3.15M	2.50M	3.37M	3.91M	1.98M	2.02M	2.74M	2.39M	7.39M	39.80M	30.04M	37.17M	37.91M	49.90M
(-) Change In Working Capital	-4.14M	2.01M	-4.86M	-16.25M	-9.59M	1.74M	-4.38M	-5.59M	-3.58M	-3.22M	-2.06M	-5.12M	-1.48M	-0.50M	-6.46M	-4.00M	5.10M	0.40M	-4.87M	0.68M	-3.37M	-3.28M	-1.03M	-1.57M	2.21M	-11.89M	-3.16M	-44.68M	-16.84M	-7.09M	-98.67M
(-) Capital Expenditure	2.69M	3.16M	3.64M	3.12M	2.15M	2.44M	2.54M	2.17M	1.84M	2.13M	1.42M	1.55M	1.83M	3.20M	2.52M	2.10M	2.53M	3.37M	2.84M	2.92M	2.62M	1.29M	1.35M	3.69M	3.00M	4.82M	4.65M	10.62M	9.91M	17.30M	10.91M
Unlevered Free Cash Flow	24.79M	15.21M	20.06M	32.96M	27.69M	7.57M	14.84M	14.47M	12.91M	9.44M	7.73M	10.80M	7.23M	3.51M	11.49M	11.71M	-3.22M	5.15M	10.34M	8.56M	14.35M	10.31M	10.75M	6.63M	5.79M	20.53M	53.16M	77.43M	59.15M	43.09M	156.36M
(-) Net Interest Income After Taxes	-2.00M	-1.83M	-2.16M	-1.50M	-1.35M	-0.72M	-0.78M	-0.96M	-0.85M	-0.76M	-0.81M	-0.70M	-0.57M	-0.42M	-0.49M	-0.84M	-0.70M	-0.84M	-0.35M	-0.43M	-0.36M	-0.23M	-0.32M	-0.45M	-0.24M	-0.10M	-0.08M	-0.20M	-0.10M	-0.26M	-0.10M
Net Debt Issuance	1.85M	2.63M	4.35M	5.21M	1.28M	-2.66M	1.82M	1.46M	1.44M	-0.16M	-0.95M	1.14M	0.32M	1.42M	1.71M	1.48M	-2.93M	-0.09M	0.87M	-1.48M	-2.40M	-1.49M	0.24M	0.07M	-0.71M	6.05M	0.14M	47.31M	12.16M	4.91M	59.13M
Levered Free Cash Flow	28.64M	19.66M	26.57M	39.67M	30.31M	5.64M	17.43M	16.89M	15.21M	10.03M	7.59M	12.64M	8.12M	5.35M	13.69M	14.04M	-5.45M	5.89M	11.56M	7.52M	12.32M	9.05M	11.30M	7.15M	5.31M	26.68M	53.38M	124.94M	71.42M	48.26M	215.59M