Computer Hardware

Category: Industry Averages Base Ticker: 1263.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	5.75	6.98	6.85	5.69	8.37	5.09	5.54	5.39	5.18	4.35	4.51	3.76	2.46	2.44	2.27	3.14	2.57	2.77	5.13	5.98	7.27	8.52	19.66	4.13	5.81	8.04	21.01	6.52	8.75	7.23	2.70
Market Capitalization	2,061.25M	1,298.76M	1,279.31M	854.99M	1,059.41M	958.05M	880.04M	719.61M	824.12M	724.97M	873.55M	555.64M	381.57M	286.34M	259.74M	309.78M	293.30M	204.47M	444.49M	384.40M	277.78M	283.30M	395.02M	308.79M	618.49M	815.72M	922.86M	693.91M	792.96M	766.93M	202.79M
(-) Cash & Equivalents	225.27M	274.40M	224.58M	229.71M	194.72M	171.33M	143.38M	129.18M	132.20M	102.41M	106.33M	101.95M	83.70M	70.40M	66.92M	62.91M	52.74M	51.75M	60.03M	64.42M	66.58M	41.76M	69.12M	58.54M	66.86M	53.43M	64.25M	66.05M	54.60M	46.82M	9.75M
(+) Total Debt	139.28M	208.13M	175.80M	207.82M	198.47M	170.95M	150.13M	149.68M	132.36M	103.96M	84.29M	62.24M	45.08M	34.79M	35.75M	33.32M	27.56M	28.61M	30.88M	33.06M	42.65M	39.29M	51.87M	53.38M	49.47M	40.10M	43.67M	42.86M	20.56M	23.18M	12.13M
Enterprise Value	1,935.96M	1,459.49M	1,349.03M	1,088.73M	1,284.40M	1,102.29M	923.01M	789.45M	804.95M	653.07M	818.36M	530.89M	374.84M	296.53M	241.90M	279.11M	280.37M	211.46M	431.36M	370.45M	257.11M	261.52M	393.22M	303.14M	592.80M	802.22M	920.73M	691.55M	777.08M	780.38M	206.94M

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	1,408.480M	1,430.906M	1,329.599M	1,187.794M	1,008.623M	936.003M	898.906M	840.645M	825.390M	743.493M	714.634M	715.525M	468.107M	465.211M	378.818M	391.493M	330.172M	383.902M	544.991M	525.811M	408.384M	295.396M	350.541M	402.047M	453.632M	408.067M	329.888M	302.870M	289.389M	700.277M	43.164M
Cost of Revenue	1,022.811M	871.688M	984.671M	906.751M	761.419M	678.076M	676.840M	681.737M	623.752M	603.475M	583.290M	480.110M	349.497M	383.905M	316.913M	334.661M	263.018M	329.463M	458.315M	440.452M	357.446M	251.413M	300.514M	313.515M	306.887M	224.481M	223.896M	206.947M	204.320M	583.719M	26.334M
Gross Profit	385.669M	559.219M	344.928M	281.043M	247.203M	257.927M	222.065M	158.907M	201.638M	140.019M	131.344M	235.415M	118.610M	81.306M	61.906M	56.832M	67.154M	54.439M	86.676M	85.360M	50.938M	43.983M	50.028M	88.532M	146.745M	183.586M	105.991M	95.923M	85.068M	116.558M	16.830M
Gross Margin	27.38%	39.08%	25.94%	23.66%	24.51%	27.56%	24.70%	18.90%	24.43%	18.83%	18.38%	32.90%	25.34%	17.48%	16.34%	14.52%	20.34%	14.18%	15.90%	16.23%	12.47%	14.89%	14.27%	22.02%	32.35%	44.99%	32.13%	31.67%	29.40%	16.64%	38.99%
R&D Expenses	55.167M	58.188M	69.405M	59.122M	55.740M	45.755M	46.363M	36.961M	30.926M	27.336M	28.252M	23.294M	14.154M	9.523M	7.915M	6.625M	3.711M	3.137M	2.665M	3.850M	2.892M	2.824M	3.962M	4.953M	4.038M	4.146M	9.063M	8.485M	7.242M	7.976M	0.083M
SG&A Expenses	137.129M	130.573M	132.838M	141.852M	115.628M	101.312M	100.807M	94.563M	85.234M	85.465M	72.075M	63.783M	52.258M	30.681M	20.666M	17.822M	19.960M	17.381M	18.703M	20.934M	17.684M	22.291M	41.033M	41.199M	44.468M	45.258M	41.397M	40.455M	34.692M	78.780M	8.466M
Operating Expenses	192.296M	188.761M	202.243M	200.974M	171.368M	147.067M	147.170M	131.524M	116.159M	112.800M	100.328M	87.077M	66.412M	40.204M	28.582M	24.447M	23.671M	20.518M	21.368M	24.785M	20.576M	25.114M	44.995M	46.151M	48.505M	49.403M	50.460M	48.941M	41.935M	86.756M	8.549M
Operating Income	193.374M	370.458M	142.685M	80.069M	75.836M	110.860M	74.895M	27.384M	85.478M	27.219M	31.017M	148.338M	52.197M	41.102M	33.324M	32.385M	43.483M	33.920M	65.308M	60.575M	30.362M	18.868M	5.032M	42.381M	98.239M	134.183M	55.531M	46.982M	43.133M	29.802M	8.281M
Operating Margin	13.73%	25.89%	10.73%	6.74%	7.52%	11.84%	8.33%	3.26%	10.36%	3.66%	4.34%	20.73%	11.15%	8.84%	8.80%	8.27%	13.17%	8.84%	11.98%	11.52%	7.43%	6.39%	1.44%	10.54%	21.66%	32.88%	16.83%	15.51%	14.91%	4.26%	19.19%
Interest Income	5.033M	5.599M	4.160M	2.119M	2.009M	1.434M	1.804M	1.098M	0.848M	0.538M	0.520M	0.543M	0.501M	1.060M	0.616M	0.488M	0.315M	0.667M	0.619M	0.415M	0.188M	0.139M	0.230M	0.151M	0.195M	0.183M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	8.929M	8.422M	5.793M	9.252M	7.703M	6.093M	6.757M	6.629M	3.841M	3.565M	3.323M	2.979M	1.486M	1.444M	1.531M	1.285M	1.088M	1.585M	1.287M	0.936M	0.723M	0.343M	0.523M	0.865M	1.106M	0.881M	0.562M	0.807M	0.379M	0.976M	0.529M
Net Interest Income	-3.897M	-2.823M	-1.633M	-7.133M	-5.694M	-4.659M	-4.953M	-5.531M	-2.993M	-3.027M	-2.804M	-2.436M	-0.986M	-0.385M	-0.915M	-0.796M	-0.773M	-0.917M	-0.668M	-0.521M	-0.535M	-0.204M	-0.293M	-0.714M	-0.911M	-0.699M	-0.562M	-0.807M	-0.379M	-0.976M	-0.529M
Other Income / Expense	-121.380M	-315.688M	-96.788M	1.279M	-2.120M	-62.249M	-34.265M	10.866M	-49.710M	1.046M	-1.344M	-120.896M	-35.057M	-24.382M	-15.371M	-12.614M	-32.573M	-13.285M	-39.336M	-42.791M	-10.194M	-2.775M	8.198M	-35.662M	-84.087M	-119.689M	-39.990M	-27.839M	-4.294M	-16.759M	-1.848M
Pre-Tax Income	68.097M	51.947M	44.264M	74.215M	68.021M	43.952M	35.677M	32.719M	32.775M	25.238M	26.869M	25.006M	16.154M	16.335M	17.038M	18.975M	10.137M	19.718M	25.304M	17.264M	19.632M	15.890M	12.938M	6.005M	13.241M	13.795M	14.979M	18.337M	38.461M	12.067M	5.904M
Pre-Tax Margin	4.83%	3.63%	3.33%	6.25%	6.74%	4.70%	3.97%	3.89%	3.97%	3.39%	3.76%	3.49%	3.45%	3.51%	4.50%	4.85%	3.07%	5.14%	4.64%	3.28%	4.81%	5.38%	3.69%	1.49%	2.92%	3.38%	4.54%	6.05%	13.29%	1.72%	13.68%
Income Tax Expense	12.751M	11.670M	12.820M	13.312M	10.452M	8.740M	6.359M	6.759M	6.685M	6.486M	6.168M	5.801M	4.664M	5.036M	3.986M	4.354M	3.249M	4.427M	4.462M	4.938M	5.076M	1.693M	1.821M	1.691M	1.853M	1.924M	1.596M	0.974M	3.903M	2.101M	0.508M
Tax Rate	18.73%	22.46%	28.96%	17.94%	15.37%	19.89%	17.82%	20.66%	20.40%	25.70%	22.95%	23.20%	28.87%	30.83%	23.40%	22.95%	32.05%	22.45%	17.63%	28.60%	25.85%	10.65%	14.08%	28.16%	13.99%	13.95%	10.66%	5.31%	10.15%	17.41%	8.61%
Net Income	55.345M	40.277M	31.445M	60.903M	57.569M	35.212M	29.319M	25.960M	26.090M	18.753M	20.702M	19.204M	11.490M	11.299M	13.052M	14.621M	6.888M	15.291M	20.842M	12.326M	14.556M	14.197M	11.116M	4.314M	11.388M	11.871M	13.383M	17.363M	34.558M	9.966M	5.396M
Net Margin	3.93%	2.81%	2.36%	5.13%	5.71%	3.76%	3.26%	3.09%	3.16%	2.52%	2.90%	2.68%	2.45%	2.43%	3.45%	3.73%	2.09%	3.98%	3.82%	2.34%	3.56%	4.81%	3.17%	1.07%	2.51%	2.91%	4.06%	5.73%	11.94%	1.42%	12.50%
EBIT	193.374M	370.458M	142.685M	80.069M	75.836M	110.860M	74.895M	27.384M	85.478M	27.219M	31.017M	148.338M	52.197M	41.102M	33.324M	32.385M	43.483M	33.920M	65.308M	60.575M	30.362M	18.868M	5.032M	42.381M	98.239M	134.183M	55.531M	46.982M	43.133M	29.802M	8.281M
Depreciation & Amortization	31.037M	33.553M	34.775M	37.376M	28.244M	28.052M	26.653M	22.811M	20.975M	19.521M	19.197M	16.355M	12.515M	11.446M	9.440M	9.735M	9.985M	8.651M	7.294M	6.824M	6.393M	4.838M	7.407M	7.508M	10.963M	9.103M	7.158M	6.612M	2.686M	3.867M	0.336M
EBITDA	224.411M	404.011M	177.460M	117.444M	104.080M	138.912M	101.548M	50.195M	106.454M	46.740M	50.213M	164.693M	64.713M	52.548M	42.764M	42.120M	53.468M	42.572M	72.602M	67.400M	36.755M	23.707M	12.439M	49.889M	109.202M	143.286M	62.690M	53.594M	45.820M	33.669M	8.617M
EBITDA Margin	15.93%	28.23%	13.35%	9.89%	10.32%	14.84%	11.30%	5.97%	12.90%	6.29%	7.03%	23.02%	13.82%	11.30%	11.29%	10.76%	16.19%	11.09%	13.32%	12.82%	9.00%	8.03%	3.55%	12.41%	24.07%	35.11%	19.00%	17.70%	15.83%	4.81%	19.96%
NOPAT	157.164M	287.235M	101.361M	65.707M	64.183M	88.815M	61.547M	21.727M	68.044M	20.224M	23.897M	113.924M	37.126M	28.430M	25.528M	24.954M	29.545M	26.305M	53.792M	43.249M	22.512M	16.858M	4.324M	30.447M	84.493M	115.470M	49.613M	44.487M	38.756M	24.612M	7.568M
NOPAT Margin	11.16%	20.07%	7.62%	5.53%	6.36%	9.49%	6.85%	2.58%	8.24%	2.72%	3.34%	15.92%	7.93%	6.11%	6.74%	6.37%	8.95%	6.85%	9.87%	8.23%	5.51%	5.71%	1.23%	7.57%	18.63%	28.30%	15.04%	14.69%	13.39%	3.51%	17.53%
Owner's Earnings	86.383M	73.830M	66.219M	98.278M	85.813M	63.264M	55.971M	48.771M	47.065M	38.274M	39.898M	35.559M	24.005M	22.746M	22.492M	24.356M	16.873M	23.943M	28.136M	19.150M	20.949M	19.035M	18.523M	11.822M	22.351M	20.974M	20.541M	23.975M	37.244M	13.833M	5.732M
Owner's Earnings Margin	6.13%	5.16%	4.98%	8.27%	8.51%	6.76%	6.23%	5.80%	5.70%	5.15%	5.58%	4.97%	5.13%	4.89%	5.94%	6.22%	5.11%	6.24%	5.16%	3.64%	5.13%	6.44%	5.28%	2.94%	4.93%	5.14%	6.23%	7.92%	12.87%	1.98%	13.28%
EPS	0.16	0.12	0.11	0.19	0.18	0.11	0.09	0.07	0.07	0.05	0.06	0.06	0.04	0.04	0.04	0.06	0.03	0.06	0.09	0.04	0.06	0.04	0.02	0.01	0.02	0.03	0.03	0.04	0.08	0.02	0.01
EPS (Diluted)	0.16	0.12	0.11	0.19	0.18	0.11	0.09	0.07	0.07	0.05	0.06	0.06	0.04	0.04	0.04	0.06	0.03	0.06	0.09	0.04	0.06	0.04	0.02	0.01	0.02	0.03	0.03	0.04	0.08	0.02	0.01
Shares (Diluted)	337,699,836	322,306,735	283,959,770	313,776,870	316,972,521	327,996,125	321,288,276	349,350,991	374,744,652	364,431,439	321,199,007	318,774,269	303,391,591	313,145,803	292,490,060	228,551,127	221,619,024	238,943,862	245,053,281	281,564,060	251,556,778	349,622,236	445,058,400	472,679,570	496,736,370	460,508,657	419,175,753	405,268,443	413,511,895	426,145,351	617,897,643

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	280.22M	274.40M	224.58M	229.68M	194.73M	171.29M	143.38M	130.35M	132.20M	102.41M	107.26M	101.95M	83.70M	70.40M	67.52M	62.91M	53.24M	52.93M	60.03M	64.42M	66.58M	42.82M	69.12M	58.54M	66.86M	53.43M	64.25M	66.05M	54.60M	46.82M	9.75M
Short-Term Investments	24.42M	37.33M	61.21M	62.42M	61.96M	60.08M	45.82M	14.71M	15.88M	13.18M	10.99M	26.54M	24.35M	4.71M	5.79M	4.48M	5.20M	5.39M	2.71M	7.17M	2.86M	0.89M	0.54M	2.21M	-7.12M	4.21M	0.79M	1.55M	1.01M	1.76M	2.36M
Cash & Short-Term Investments	304.64M	311.73M	285.79M	292.10M	256.69M	231.37M	189.20M	145.06M	148.08M	115.59M	118.25M	128.49M	108.06M	75.11M	73.31M	67.39M	58.44M	58.32M	62.74M	71.59M	69.43M	43.71M	69.66M	60.75M	59.73M	57.64M	65.04M	67.60M	55.60M	48.58M	12.12M
Net Receivables	303.05M	304.97M	286.81M	273.44M	225.77M	190.72M	190.36M	184.95M	155.37M	127.42M	114.08M	111.97M	83.48M	72.08M	46.37M	45.87M	41.81M	46.54M	57.26M	52.44M	67.07M	55.67M	63.90M	73.22M	60.67M	21.49M	32.58M	24.27M	24.45M	90.85M	4.43M
Inventory	236.77M	266.57M	259.29M	302.20M	254.37M	148.93M	135.80M	128.97M	110.61M	98.66M	104.39M	90.67M	69.79M	57.93M	49.00M	47.53M	39.82M	39.71M	36.94M	61.17M	51.14M	31.44M	36.51M	41.98M	58.36M	40.98M	36.51M	30.41M	28.56M	44.63M	9.29M
Other Current Assets	37.75M	33.09M	32.76M	38.56M	29.98M	23.84M	29.23M	31.95M	30.28M	18.08M	18.13M	18.65M	13.89M	11.31M	12.35M	5.89M	6.42M	7.61M	17.54M	13.25M	17.48M	5.95M	13.31M	17.30M	18.03M	39.51M	39.54M	38.34M	26.88M	31.15M	17.37M
Total Current Assets	882.21M	916.37M	864.64M	906.30M	766.81M	594.86M	544.59M	490.92M	444.33M	359.76M	354.84M	349.78M	275.21M	216.42M	181.03M	166.68M	146.50M	152.17M	174.47M	198.45M	205.12M	136.78M	183.38M	193.25M	196.80M	159.62M	173.67M	160.61M	135.50M	215.20M	43.21M
Property, Plant & Equipment	200.92M	187.12M	163.33M	200.34M	136.36M	122.57M	102.34M	87.43M	84.11M	79.96M	82.98M	76.80M	67.45M	62.55M	57.71M	55.03M	57.13M	55.00M	53.12M	52.99M	49.24M	32.49M	38.54M	37.35M	38.12M	30.23M	31.00M	41.68M	32.06M	42.32M	6.02M
Goodwill	10.64M	11.04M	16.37M	26.83M	19.35M	10.76M	10.92M	14.47M	18.67M	7.38M	4.53M	4.36M	2.30M	4.43M	2.07M	1.03M	2.05M	2.03M	0.57M	0.33M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	24.38M	20.04M	27.78M	42.67M	36.04M	26.48M	22.89M	26.30M	19.16M	13.12M	12.93M	11.83M	9.04M	8.80M	7.72M	6.03M	5.76M	4.02M	3.34M	3.89M	2.96M	3.24M	4.99M	4.17M	12.81M	3.79M	3.07M	1.96M	1.22M	1.25M	0.66M
Long-Term Investments	33.46M	19.77M	24.76M	21.73M	17.78M	16.73M	20.24M	16.11M	18.09M	15.36M	7.72M	4.28M	5.42M	4.85M	1.33M	1.18M	1.44M	1.18M	2.16M	2.87M	0.83M	0.09M	0.00M	0.00M	1.04M	0.29M	0.38M	0.00M	0.00M	0.00M	0.02M
Tax Assets	10.21M	12.77M	11.52M	14.94M	14.04M	12.63M	8.42M	6.08M	5.57M	4.58M	4.95M	3.96M	3.01M	3.47M	4.24M	2.76M	2.87M	2.30M	2.66M	1.11M	0.69M	0.06M	0.00M	0.00M	0.44M	0.00M	0.00M	0.20M	0.00M	0.00M	0.00M
Other Non-Current Assets	28.63M	68.34M	29.90M	41.86M	39.63M	41.90M	20.31M	19.63M	17.54M	15.13M	12.83M	14.16M	15.47M	7.68M	11.33M	9.59M	8.96M	9.48M	8.47M	11.85M	12.79M	7.03M	10.30M	11.39M	13.38M	12.50M	10.14M	9.62M	7.90M	7.19M	0.97M
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	308.24M	319.08M	273.65M	348.37M	263.20M	231.07M	185.13M	170.02M	163.14M	135.53M	125.94M	115.39M	102.69M	91.79M	84.40M	75.62M	78.21M	74.01M	70.32M	73.04M	66.51M	42.92M	53.84M	52.91M	65.78M	46.82M	44.59M	53.45M	41.17M	50.76M	7.68M
Total Assets	1,190.44M	1,235.45M	1,138.29M	1,254.66M	1,030.00M	825.92M	729.72M	660.94M	607.48M	495.29M	480.79M	465.18M	377.91M	308.21M	265.43M	242.30M	224.71M	226.18M	244.80M	271.49M	271.63M	179.69M	237.22M	246.17M	262.58M	206.44M	218.25M	214.06M	176.67M	265.96M	50.89M
Accounts Payable	171.56M	214.55M	175.60M	184.38M	181.54M	138.05M	136.01M	133.92M	119.54M	102.55M	110.71M	95.63M	76.25M	65.57M	55.60M	63.01M	59.53M	47.91M	76.08M	63.49M	63.49M	48.94M	52.58M	46.78M	55.37M	42.98M	33.23M	28.45M	28.35M	80.63M	4.65M
Short-Term Debt	55.05M	61.66M	67.55M	69.39M	64.04M	59.27M	57.99M	68.49M	49.50M	37.88M	43.49M	38.05M	28.07M	18.55M	19.70M	18.92M	13.50M	16.60M	19.63M	20.32M	10.55M	11.04M	20.70M	20.32M	27.31M	20.21M	20.93M	17.53M	14.63M	17.60M	11.25M
Tax Payables	1.24M	8.52M	10.58M	11.86M	9.94M	7.49M	4.95M	5.10M	3.94M	3.62M	4.53M	3.28M	2.38M	2.08M	1.64M	1.75M	1.39M	1.74M	1.85M	1.39M	2.29M	0.09M	0.06M	0.05M	0.24M	0.01M	0.00M	0.15M	0.07M	0.24M	0.38M
Deferred Revenue	13.45M	1.34M	10.30M	17.09M	70.73M	55.30M	36.86M	13.78M	35.98M	23.71M	17.96M	15.66M	12.98M	7.89M	7.03M	8.05M	6.04M	4.85M	4.59M	7.14M	6.25M	5.30M	5.48M	5.73M	5.67M	4.58M	2.68M	1.76M	1.80M	3.10M	4.39M
Other Current Liabilities	40.16M	69.38M	65.50M	73.99M	56.92M	52.21M	51.48M	57.64M	46.00M	37.82M	27.17M	34.78M	22.89M	21.26M	17.25M	13.13M	12.01M	9.53M	13.49M	15.05M	8.77M	3.89M	3.59M	6.39M	3.85M	8.37M	15.87M	13.58M	11.19M	22.65M	5.18M
Total Current Liabilities	281.46M	355.45M	329.53M	356.72M	383.17M	312.33M	287.31M	278.93M	254.96M	205.59M	203.86M	187.40M	142.58M	115.35M	101.21M	104.86M	92.46M	80.64M	115.64M	107.38M	91.35M	69.27M	82.40M	79.27M	92.44M	76.16M	72.72M	61.46M	56.03M	124.23M	25.84M
Long-Term Debt	58.49M	93.99M	56.88M	79.64M	79.22M	44.19M	47.84M	34.09M	31.08M	23.91M	12.63M	10.34M	8.89M	7.82M	6.62M	5.80M	5.59M	5.45M	4.22M	4.88M	16.27M	8.17M	11.26M	12.81M	30.26M	10.15M	8.36M	8.28M	6.97M	5.05M	1.20M
Capital Lease Obligations	4.81M	18.02M	17.68M	15.33M	16.27M	11.59M	2.23M	0.08M	0.07M	0.03M	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
Deferred Tax Liabilities	4.43M	5.10M	5.75M	5.20M	8.54M	6.74M	5.29M	4.66M	3.60M	2.27M	1.36M	1.37M	0.74M	0.53M	0.79M	0.40M	0.48M	0.51M	0.13M	0.10M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.08M	0.00M
Other Non-Current Liabilities	27.30M	18.10M	19.09M	19.31M	21.71M	16.02M	16.51M	14.76M	12.55M	12.75M	10.69M	10.15M	6.57M	5.25M	2.81M	2.37M	2.01M	4.00M	4.01M	4.46M	4.36M	1.61M	2.21M	2.15M	1.04M	0.85M	0.24M	0.27M	0.24M	0.25M	0.30M
Total Non-Current Liabilities	95.04M	135.21M	99.40M	119.48M	125.73M	78.54M	71.87M	53.59M	47.30M	38.96M	24.68M	21.87M	16.21M	13.60M	10.22M	8.57M	8.09M	9.96M	8.36M	9.45M	20.68M	9.79M	13.47M	14.96M	31.30M	11.00M	8.60M	8.54M	7.23M	5.38M	1.50M
Total Liabilities	376.49M	490.66M	428.93M	476.20M	508.91M	390.87M	359.18M	332.52M	302.26M	244.55M	228.54M	209.27M	158.79M	128.96M	111.43M	113.43M	100.55M	90.60M	124.00M	116.83M	112.03M	79.06M	95.87M	94.23M	123.74M	87.16M	81.32M	70.01M	63.26M	129.61M	27.34M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.04M	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	79.33M	71.03M	69.68M	69.65M	59.84M	60.82M	53.73M	55.48M	61.60M	56.83M	55.90M	51.55M	43.06M	42.44M	39.64M	36.54M	32.55M	24.64M	22.56M	26.22M	16.83M	11.32M	16.37M	18.21M	25.23M	16.16M	13.54M	8.58M	7.34M	8.30M	5.91M
Retained Earnings	211.28M	192.21M	194.86M	176.37M	148.61M	117.57M	109.74M	107.13M	96.64M	72.22M	83.63M	75.24M	65.63M	59.35M	42.73M	43.77M	40.01M	53.48M	49.85M	52.12M	44.43M	23.06M	24.23M	21.29M	25.21M	25.08M	20.46M	49.97M	35.73M	52.52M	1.48M
Accumulated OCI	51.99M	10.77M	5.22M	13.82M	8.92M	9.55M	11.97M	12.21M	7.79M	9.06M	10.58M	1.57M	-0.33M	0.00M	0.00M	0.00M	0.00M	-0.01M	0.00M	0.00M	-0.07M	-0.27M	-0.41M	-0.88M	-0.76M	-0.66M	-1.36M	-2.38M	-1.72M	-1.74M	-0.11M
Minority Interest	10.67M	12.37M	13.27M	14.27M	14.78M	12.94M	11.61M	9.72M	8.65M	4.67M	3.79M	2.55M	1.85M	0.64M	0.51M	1.02M	1.13M	0.41M	0.26M	0.64M	0.25M	0.12M	0.40M	0.58M	2.52M	2.05M	0.83M	0.98M	1.20M	0.67M	0.46M
Total Shareholders’ Equity	342.59M	274.01M	269.76M	259.84M	217.37M	187.94M	175.45M	174.82M	166.03M	138.10M	150.11M	128.37M	108.39M	101.79M	82.37M	80.31M	72.55M	78.12M	72.42M	78.34M	61.19M	34.11M	40.19M	38.62M	49.67M	40.58M	32.64M	56.17M	41.35M	59.08M	7.29M
Total Equity	353.26M	286.37M	283.03M	274.11M	232.15M	200.88M	187.06M	184.54M	174.68M	142.78M	153.90M	130.92M	110.23M	102.43M	82.89M	81.33M	73.68M	78.52M	72.67M	78.98M	61.44M	34.23M	40.59M	39.20M	52.20M	42.63M	33.47M	57.15M	42.54M	59.76M	7.75M
Total Liabilities & Equity	729.75M	777.03M	711.96M	750.32M	741.06M	591.74M	546.24M	517.06M	476.94M	387.33M	382.44M	340.19M	269.02M	231.38M	194.32M	194.76M	174.23M	169.12M	196.67M	195.81M	173.47M	113.29M	136.45M	133.43M	175.94M	129.78M	114.79M	127.16M	105.81M	189.37M	35.09M
Tangible Assets	1,155.43M	1,204.37M	1,094.15M	1,185.17M	974.62M	788.68M	695.91M	620.18M	569.65M	474.79M	463.33M	448.98M	366.57M	294.97M	255.65M	235.24M	216.90M	220.13M	240.88M	267.27M	268.67M	176.45M	232.22M	242.00M	249.77M	202.64M	215.18M	212.11M	175.45M	264.71M	50.23M
Tangible Equity	318.25M	255.30M	238.89M	204.62M	176.77M	163.64M	153.25M	143.78M	136.85M	122.28M	136.44M	114.72M	98.90M	89.19M	73.10M	74.28M	65.87M	72.48M	68.76M	74.76M	58.48M	30.99M	35.59M	35.04M	39.38M	38.83M	30.40M	55.20M	41.32M	58.50M	7.08M
Tangible Book Value	318.25M	255.30M	238.89M	204.62M	176.77M	163.64M	153.25M	143.78M	136.85M	122.28M	136.44M	114.72M	98.90M	89.19M	73.10M	74.28M	65.87M	72.48M	68.76M	74.76M	58.48M	30.99M	35.59M	35.04M	39.38M	38.83M	30.40M	55.20M	41.32M	58.50M	7.08M
Total Investments	88.77M	41.08M	54.71M	53.71M	54.83M	32.76M	28.95M	26.42M	27.64M	21.05M	16.32M	18.13M	11.02M	9.16M	6.89M	6.04M	5.66M	7.99M	20.82M	16.32M	12.70M	9.80M	11.20M	11.44M	10.66M	9.49M	6.53M	5.21M	0.13M	0.02M	0.04M
Net Debt	-166.69M	-118.76M	-100.15M	-80.65M	-51.47M	-67.83M	-37.55M	-27.77M	-51.62M	-40.62M	-51.14M	-53.55M	-46.74M	-44.03M	-41.21M	-38.18M	-34.15M	-30.87M	-36.17M	-39.22M	-39.75M	-23.60M	-37.16M	-25.41M	-9.29M	-23.07M	-34.96M	-40.25M	-33.00M	-24.16M	2.70M

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	404.89M	416.44M	399.27M	392.63M	327.21M	245.62M	244.46M	209.08M	173.66M	160.38M	179.40M	158.72M	157.34M	134.85M	103.36M	96.18M	53.74M	70.75M	62.06M	53.58M	87.64M	61.30M	102.33M	89.93M	81.57M	79.99M	79.00M	67.46M	60.25M	76.61M	15.57M
Total Capital	765.09M	697.32M	639.86M	709.50M	668.54M	556.51M	469.01M	495.79M	480.79M	385.04M	374.95M	346.09M	273.81M	238.07M	205.68M	193.49M	153.36M	167.13M	187.37M	187.53M	191.55M	150.26M	181.27M	178.24M	184.53M	185.76M	144.95M	160.42M	113.84M	149.64M	41.54M
Capital Employed	1,079.15M	1,006.22M	932.42M	960.64M	800.82M	625.51M	557.73M	491.22M	455.99M	381.13M	411.14M	435.45M	425.97M	339.71M	259.22M	204.27M	158.93M	180.57M	162.01M	151.46M	161.38M	126.21M	185.01M	164.94M	167.80M	189.00M	141.50M	123.12M	99.37M	132.55M	25.99M
Invested Capital	484.86M	422.92M	415.28M	479.82M	473.81M	385.22M	325.63M	365.44M	348.59M	282.63M	267.69M	244.14M	190.10M	167.67M	138.16M	130.58M	100.12M	114.20M	127.35M	123.11M	124.98M	107.44M	112.15M	119.70M	117.68M	132.33M	80.70M	94.38M	59.24M	102.82M	31.78M

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	16.57M	37.60M	37.93M	38.64M	29.62M	28.84M	26.48M	23.09M	20.98M	20.13M	19.06M	16.37M	12.12M	11.54M	9.49M	9.90M	10.16M	7.94M	7.23M	6.93M	7.57M	5.89M	7.76M	12.07M	10.58M	8.35M	7.16M	6.90M	5.42M	13.93M	148.45M
Deferred Income Tax	0.00M	0.00M	-0.38M	-0.61M	-2.44M	-1.86M	-1.56M	-0.83M	-0.40M	-0.35M	-0.21M	-0.19M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.04M	0.00M	0.00M	0.03M	-0.05M	-0.42M	-0.46M	-0.74M	-11.54M	0.00M
Stock-Based Compensation	0.72M	1.86M	3.47M	2.50M	2.34M	1.08M	0.86M	1.01M	0.69M	0.40M	0.79M	0.51M	0.21M	0.16M	0.13M	0.10M	0.09M	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
Change in Working Capital	-2.36M	0.45M	2.16M	-41.27M	-24.86M	0.20M	-6.54M	-20.16M	-5.41M	-4.24M	-5.69M	-4.49M	-2.79M	-7.20M	-6.53M	-5.78M	3.85M	-0.34M	-3.65M	-2.28M	2.70M	-12.09M	-2.19M	5.37M	-5.48M	-8.95M	-6.39M	-9.78M	-4.14M	-12.79M	-2.17M
Accounts Receivable	-6.27M	-11.69M	-1.73M	-10.46M	-14.77M	-6.59M	-7.97M	-20.15M	-12.04M	-0.29M	-0.84M	-4.89M	-5.27M	-3.26M	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
Inventory	-2.15M	1.09M	7.82M	-14.12M	-39.89M	-9.42M	-3.57M	-23.66M	-6.84M	-2.92M	-1.11M	-6.08M	-0.77M	-2.29M	-4.32M	-6.17M	1.02M	-0.97M	-3.12M	-5.07M	-0.35M	-9.44M	-2.80M	5.68M	3.65M	-9.08M	-2.64M	-5.39M	-4.44M	-16.15M	-1.33M
Accounts Payable	0.18M	9.07M	2.98M	-0.87M	15.93M	11.94M	-1.61M	9.17M	7.16M	0.80M	1.54M	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	-1.84M	0.00M	-2.10M	-2.29M	2.84M	1.78M	0.12M	-5.28M	2.58M	-3.44M	-0.45M	1.03M	-0.33M	-2.87M	-0.80M	0.57M	2.39M	1.13M	-1.40M	1.52M	0.23M	1.82M	1.05M	3.55M	-9.17M	1.72M	-2.09M	-5.41M	-1.39M	22.15M	22.63M
Other Non-Cash Items	7.47M	5.32M	9.12M	6.52M	2.68M	7.68M	5.38M	2.88M	1.16M	4.86M	-0.42M	0.75M	1.32M	1.54M	0.39M	-0.01M	0.99M	-0.93M	0.04M	-2.21M	2.83M	2.37M	2.97M	8.06M	3.89M	1.60M	5.39M	3.13M	-0.07M	-0.48M	-2.19M
Net Cash from Operating Activities	79.72M	77.91M	92.62M	60.28M	36.45M	65.93M	60.46M	30.07M	26.20M	31.34M	33.16M	33.29M	20.55M	18.39M	15.79M	19.74M	18.18M	9.45M	15.35M	18.89M	21.26M	8.79M	14.56M	17.68M	22.79M	8.03M	13.68M	15.88M	75.66M	16.41M	139.32M
Capital Expenditures (PPE)	-35.59M	-34.74M	-35.44M	-40.37M	-36.27M	-33.85M	-29.80M	-24.30M	-21.99M	-19.96M	-21.20M	-16.70M	-13.79M	-14.38M	-12.95M	-11.37M	-7.97M	-9.76M	-9.43M	-10.77M	-12.24M	-8.83M	-10.70M	-12.43M	-17.80M	-8.71M	-12.03M	-21.51M	-43.11M	-56.51M	-2.41M
Acquisitions (Net)	0.01M	-0.32M	-1.05M	0.05M	-0.29M	-0.47M	-0.20M	-0.76M	-0.68M	-0.43M	-1.80M	-1.99M	-0.68M	-0.75M	-0.20M	-0.18M	-0.35M	-0.47M	-0.07M	-0.08M	0.01M	0.02M	0.30M	-0.22M	1.14M	0.20M	1.42M	0.00M	0.60M	0.30M	7.06M
Purchases of Investments	-16.18M	-19.17M	-13.15M	-14.48M	-10.76M	-15.00M	-10.59M	-12.37M	-11.48M	-7.26M	-3.52M	-3.78M	-5.01M	-1.40M	-1.99M	-1.99M	-0.74M	-2.32M	-4.32M	-2.24M	-6.78M	-4.24M	-1.93M	-6.70M	-11.19M	-6.23M	-7.48M	-11.45M	-8.33M	-2.11M	-5.04M
Sales / Maturities of Investments	23.08M	11.29M	17.63M	20.45M	16.69M	8.24M	13.10M	9.85M	10.27M	4.06M	7.03M	4.18M	2.43M	1.11M	1.04M	3.17M	1.25M	7.81M	4.60M	4.53M	8.61M	3.38M	4.29M	3.33M	5.79M	9.26M	11.88M	10.25M	8.81M	12.61M	27.99M
Other Investing Activities	0.05M	0.74M	1.36M	1.66M	1.84M	0.15M	0.48M	-0.61M	0.51M	0.32M	0.49M	0.06M	0.34M	0.99M	-0.09M	0.58M	0.40M	0.21M	0.24M	-0.33M	0.31M	-0.38M	-0.21M	-4.12M	-0.59M	-4.47M	-3.12M	2.11M	-0.40M	4.89M	-0.43M
Net Cash from Investing Activities	-40.24M	-38.89M	-39.31M	-32.63M	-51.02M	-39.68M	-30.42M	-29.17M	-41.51M	-26.83M	-21.59M	-26.99M	-21.60M	-19.14M	-17.85M	-12.38M	-7.16M	-7.49M	-11.65M	-13.71M	-12.20M	-15.27M	-12.49M	-11.27M	-28.36M	-8.51M	-20.48M	-24.69M	-37.34M	-45.54M	-4.49M
Net Debt Issuance	-0.49M	1.98M	-3.03M	0.73M	9.23M	4.15M	0.61M	2.20M	8.61M	-0.93M	-0.47M	2.20M	3.43M	-0.02M	2.14M	3.07M	-2.64M	-1.59M	0.45M	0.24M	-1.65M	-0.97M	-0.53M	-4.93M	5.66M	2.31M	0.57M	1.88M	-1.84M	-2.04M	55.53M
Long-Term Debt Issuance	0.15M	1.83M	0.82M	-1.15M	8.83M	3.39M	3.71M	2.10M	5.46M	0.12M	0.78M	2.75M	1.90M	1.02M	0.04M	1.00M	-0.47M	-1.42M	0.34M	-0.60M	-0.56M	-1.13M	-0.87M	-3.99M	5.47M	2.54M	0.77M	1.10M	-1.84M	-2.04M	55.53M
Short-Term Debt Issuance	2.75M	-0.01M	-2.28M	0.08M	0.06M	-0.37M	-0.29M	0.04M	0.23M	-0.08M	0.34M	0.12M	1.11M	-0.06M	0.42M	0.34M	-0.75M	-0.02M	0.00M	0.13M	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	-0.05M	-0.79M	-1.40M	-0.21M	-0.22M	-0.17M	-0.36M	-0.09M	-0.07M	0.03M	-0.04M	0.00M	0.08M	0.04M	0.19M	0.14M	-0.03M	-0.18M	0.25M	0.01M	0.27M	0.39M	0.68M	-0.25M	0.16M	0.94M	-0.30M	-0.29M	7.46M	2.31M	13.02M
Common Stock Issuance	0.00M	0.02M	0.13M	0.12M	0.77M	0.38M	0.10M	0.28M	0.13M	0.16M	0.27M	0.19M	0.68M	0.13M	0.78M	0.44M	0.18M	0.11M	0.53M	0.36M	1.27M	1.23M	1.34M	1.23M	1.74M	6.82M	1.44M	4.12M	17.86M	10.69M	13.02M
Common Stock Repurchased	-0.04M	-1.03M	-1.88M	-0.68M	-0.52M	-0.32M	-0.77M	-0.39M	-0.65M	-0.07M	-0.15M	-0.08M	-0.06M	-0.05M	-0.05M	0.00M	-0.05M	-0.31M	-0.08M	-0.10M	0.00M	-0.03M	-0.05M	-1.14M	-0.10M	-0.11M	-0.51M	-0.39M	-0.64M	-0.96M	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	-8.16M	-15.92M	-16.98M	-11.14M	-9.91M	-7.96M	-8.26M	-12.84M	-9.30M	-9.33M	-7.90M	-6.56M	-5.03M	-4.60M	-5.40M	-3.80M	-3.60M	-4.41M	-4.23M	-3.91M	-3.69M	-3.49M	-4.17M	-4.34M	-3.71M	-3.11M	-5.23M	-1.85M	-0.15M	-0.13M	0.00M
Common Dividends Paid	-5.83M	-15.92M	-16.93M	-10.98M	-9.94M	-8.88M	-9.92M	-10.99M	-8.87M	-8.11M	-6.71M	-5.94M	-4.83M	-4.19M	-4.49M	-3.66M	-3.11M	-4.35M	-4.21M	-3.10M	-3.26M	-3.25M	-3.86M	-3.28M	-3.31M	-2.52M	-4.95M	-1.39M	-0.15M	-0.13M	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	-6.02M	-6.89M	-3.43M	-1.25M	-0.22M	-1.10M	-0.59M	-0.36M	4.37M	-0.18M	1.13M	2.14M	0.63M	0.37M	-0.21M	-0.31M	-0.18M	0.29M	-0.35M	1.00M	-0.12M	0.55M	-0.24M	3.74M	0.12M	12.57M	7.96M	0.46M	-0.01M	-0.03M	1.46M
Net Cash from Financing Activities	-35.87M	-43.77M	-39.92M	-27.60M	6.75M	-6.94M	-14.99M	-5.74M	9.26M	-5.07M	-5.61M	2.11M	1.59M	-3.13M	3.16M	2.07M	-6.05M	-6.13M	-4.75M	-3.36M	-5.26M	-2.28M	-4.65M	-7.19M	-6.96M	8.49M	-0.96M	17.19M	1.90M	-26.01M	56.68M
Effect of FX on Cash	0.19M	1.16M	-0.02M	1.44M	-0.37M	-0.78M	-0.18M	0.13M	-0.81M	-0.90M	0.26M	0.43M	0.24M	-0.24M	-0.01M	-0.25M	-0.16M	-0.09M	0.09M	0.06M	0.02M	0.00M	0.01M	-0.02M	-0.03M	-0.01M	-0.05M	-0.30M	-0.48M	-0.22M	5.04M
Net Change in Cash	-2.53M	9.31M	3.56M	16.77M	1.24M	7.38M	4.93M	-6.50M	9.35M	1.30M	8.76M	14.80M	5.43M	-2.49M	2.58M	9.12M	7.26M	-0.29M	3.03M	7.67M	10.35M	-0.45M	15.22M	1.03M	-2.36M	5.98M	3.55M	11.21M	6.63M	3.04M	73.62M
Cash at Beginning of Period	177.26M	215.08M	221.18M	201.71M	172.42M	141.14M	130.56M	126.95M	101.41M	109.15M	103.24M	99.18M	69.28M	82.60M	67.63M	56.65M	45.57M	46.05M	47.74M	52.26M	56.08M	60.67M	53.86M	62.34M	69.82M	61.92M	62.72M	56.01M	51.47M	71.22M	739.58M
Cash at End of Period	291.42M	245.36M	215.63M	227.41M	201.95M	161.62M	143.11M	130.47M	127.17M	101.50M	108.95M	102.44M	98.58M	70.90M	68.98M	67.57M	55.38M	52.72M	53.77M	60.62M	69.55M	56.90M	69.80M	68.27M	66.64M	65.84M	63.67M	67.80M	59.33M	54.42M	813.20M
Operating Cash Flow	79.75M	77.91M	92.52M	60.27M	36.45M	65.93M	60.46M	30.07M	26.20M	31.34M	33.16M	33.29M	20.55M	18.39M	15.79M	19.74M	18.18M	9.45M	15.35M	18.89M	21.26M	8.79M	14.56M	17.68M	22.79M	8.03M	13.68M	15.88M	75.66M	16.41M	139.32M
Capital Expenditure	-37.89M	-41.59M	-36.23M	-40.77M	-36.61M	-33.95M	-30.06M	-24.35M	-22.02M	-19.96M	-21.29M	-16.70M	-13.83M	-14.45M	-12.95M	-11.43M	-7.97M	-9.76M	-9.43M	-10.77M	-12.24M	-8.79M	-10.70M	-12.43M	-17.80M	-8.86M	-12.03M	-21.51M	-43.11M	-56.51M	-2.41M
Free Cash Flow	56.65M	36.21M	43.27M	19.21M	7.87M	43.45M	23.20M	8.26M	9.96M	19.34M	12.85M	11.91M	6.72M	2.52M	4.07M	7.90M	8.16M	3.35M	6.87M	7.53M	13.51M	2.76M	9.34M	12.11M	1.39M	-2.40M	5.52M	-3.09M	24.94M	2.01M	-1.77M

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	114.19M	90.80M	87.31M	96.91M	86.79M	73.89M	59.26M	50.33M	50.36M	42.02M	51.13M	46.33M	27.22M	30.66M	27.85M	30.84M	19.88M	27.77M	32.96M	28.22M	27.61M	20.07M	21.90M	25.39M	30.03M	21.80M	18.93M	23.63M	26.29M	33.88M	5.27M
(-) Tax Adjustment	21.38M	20.40M	25.29M	17.38M	13.34M	14.69M	10.56M	10.40M	10.27M	10.80M	11.74M	10.75M	7.86M	9.45M	6.52M	7.08M	6.37M	6.23M	5.81M	8.07M	7.14M	2.14M	3.08M	7.15M	4.20M	3.04M	2.02M	1.26M	2.67M	5.90M	0.45M
(-) Change In Working Capital	-2.36M	0.45M	2.16M	-41.27M	-24.86M	0.20M	-6.54M	-20.16M	-5.41M	-4.24M	-5.69M	-4.49M	-2.79M	-7.20M	-6.53M	-5.78M	3.85M	-0.34M	-3.65M	-2.28M	2.70M	-12.09M	-2.19M	5.37M	-5.48M	-8.95M	-6.39M	-9.78M	-4.14M	-12.79M	-2.17M
(-) Capital Expenditure	37.89M	41.59M	36.23M	40.77M	36.61M	33.95M	30.06M	24.35M	22.02M	19.96M	21.29M	16.70M	13.83M	14.45M	12.95M	11.43M	7.97M	9.76M	9.43M	10.77M	12.24M	8.79M	10.70M	12.43M	17.80M	8.86M	12.03M	21.51M	43.11M	56.51M	2.41M
Unlevered Free Cash Flow	57.29M	28.35M	23.63M	80.02M	61.70M	25.04M	25.18M	35.74M	23.48M	15.50M	23.79M	23.37M	8.32M	13.96M	14.92M	18.11M	1.69M	12.12M	21.37M	11.66M	5.52M	21.22M	10.30M	0.44M	13.51M	18.85M	11.27M	10.65M	-15.35M	-15.74M	4.57M
(-) Net Interest Income After Taxes	-3.17M	-2.19M	-1.16M	-5.85M	-4.82M	-3.73M	-4.07M	-4.39M	-2.38M	-2.25M	-2.16M	-1.87M	-0.70M	-0.27M	-0.70M	-0.61M	-0.53M	-0.71M	-0.55M	-0.37M	-0.40M	-0.18M	-0.25M	-0.51M	-0.78M	-0.60M	-0.50M	-0.76M	-0.34M	-0.81M	-0.48M
Net Debt Issuance	-0.49M	1.98M	-3.03M	0.73M	9.23M	4.15M	0.61M	2.20M	8.61M	-0.93M	-0.47M	2.20M	3.43M	-0.02M	2.14M	3.07M	-2.64M	-1.59M	0.45M	0.24M	-1.65M	-0.97M	-0.53M	-4.93M	5.66M	2.31M	0.57M	1.88M	-1.84M	-2.04M	55.53M
Levered Free Cash Flow	59.97M	32.52M	21.76M	86.60M	75.75M	32.92M	29.85M	42.33M	34.47M	16.82M	25.48M	27.43M	12.45M	14.21M	17.76M	21.79M	-0.42M	11.24M	22.36M	12.27M	4.27M	20.44M	10.02M	-3.97M	19.95M	21.77M	12.34M	13.30M	-16.85M	-16.97M	60.59M