Medical - Instruments & Supplies

Category: Industry Averages Base Ticker: 1358.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	22.20	27.33	27.54	25.49	37.76	31.78	27.34	20.81	17.62	15.81	14.89	11.03	9.61	8.25	7.61	9.21	9.44	7.73	11.89	11.44	11.89	12.44	11.56	9.53	12.75	12.10	10.16	10.53	12.85	12.21	10.00
Market Capitalization	3,221.56M	2,995.80M	3,166.40M	3,068.94M	4,182.93M	4,160.83M	2,887.29M	2,444.52M	2,225.88M	1,633.64M	1,642.28M	1,091.28M	1,039.98M	523.98M	481.49M	482.88M	442.64M	405.37M	531.58M	556.70M	469.30M	453.60M	419.29M	354.63M	395.22M	385.03M	306.11M	348.04M	412.94M	332.76M	404.97M
(-) Cash & Equivalents	236.75M	213.34M	230.14M	264.46M	259.20M	208.95M	117.21M	110.05M	92.60M	83.66M	73.89M	68.44M	59.45M	48.34M	44.05M	39.81M	33.61M	32.98M	31.69M	25.78M	38.00M	37.96M	32.17M	20.97M	16.96M	16.58M	14.91M	14.86M	13.68M	10.50M	12.48M
(+) Total Debt	356.30M	355.23M	329.33M	287.44M	242.10M	247.13M	200.63M	135.66M	106.55M	85.60M	79.12M	87.06M	84.34M	54.19M	18.63M	22.76M	21.24M	27.67M	29.05M	20.02M	26.38M	35.35M	43.43M	47.99M	57.74M	31.30M	49.39M	60.83M	37.68M	33.80M	47.68M
Enterprise Value	3,402.64M	3,175.00M	3,412.61M	3,369.55M	4,323.46M	4,126.23M	3,172.69M	2,553.76M	2,301.92M	1,922.46M	1,743.56M	1,106.85M	1,021.32M	586.49M	510.77M	494.39M	449.53M	455.12M	598.34M	567.11M	507.55M	450.30M	432.66M	387.77M	460.48M	444.18M	360.79M	417.97M	453.16M	383.92M	442.53M

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	1,199.866M	1,103.382M	1,084.130M	1,114.924M	1,114.304M	912.006M	727.706M	658.872M	540.329M	513.317M	470.142M	404.763M	378.532M	318.739M	288.745M	255.776M	228.251M	259.179M	244.516M	252.477M	223.141M	202.067M	207.461M	256.046M	284.989M	241.909M	140.449M	191.175M	219.984M	213.577M	230.443M
Cost of Revenue	597.136M	538.145M	506.176M	534.663M	498.014M	436.866M	373.091M	339.647M	291.974M	266.547M	246.220M	207.667M	192.488M	163.789M	153.541M	132.322M	106.440M	116.319M	122.428M	114.172M	107.901M	111.167M	113.977M	156.669M	154.955M	82.769M	81.170M	93.349M	97.355M	97.588M	114.662M
Gross Profit	602.730M	565.237M	577.953M	580.261M	616.289M	475.139M	354.615M	319.225M	248.355M	246.770M	223.922M	197.096M	186.043M	154.950M	135.204M	123.454M	121.811M	142.861M	122.088M	138.305M	115.240M	90.900M	93.484M	99.377M	130.034M	159.140M	59.279M	97.826M	122.628M	115.990M	115.781M
Gross Margin	50.23%	51.23%	53.31%	52.04%	55.31%	52.10%	48.73%	48.45%	45.96%	48.07%	47.63%	48.69%	49.15%	48.61%	46.82%	48.27%	53.37%	55.12%	49.93%	54.78%	51.64%	44.98%	45.06%	38.81%	45.63%	65.79%	42.21%	51.17%	55.74%	54.31%	50.24%
R&D Expenses	45.333M	49.723M	39.963M	41.392M	37.714M	34.553M	28.447M	23.863M	18.850M	18.724M	17.271M	12.790M	12.097M	8.659M	6.008M	5.631M	3.707M	4.183M	5.755M	3.932M	4.125M	3.938M	2.972M	4.248M	3.113M	2.883M	2.713M	3.022M	3.063M	2.516M	2.110M
SG&A Expenses	294.756M	258.475M	241.831M	246.508M	223.108M	190.069M	191.622M	172.464M	124.055M	119.597M	116.583M	103.443M	99.060M	69.596M	54.753M	52.174M	46.233M	61.691M	44.552M	42.958M	34.927M	45.040M	54.089M	46.490M	44.674M	27.792M	26.660M	28.547M	30.631M	35.499M	32.514M
Operating Expenses	340.089M	308.197M	281.793M	287.899M	260.822M	224.622M	220.069M	196.327M	142.905M	138.321M	133.854M	116.233M	111.157M	78.255M	60.760M	57.805M	49.940M	65.875M	50.307M	46.890M	39.053M	48.978M	57.061M	50.738M	47.787M	30.675M	29.373M	31.568M	33.694M	38.014M	34.624M
Operating Income	262.641M	257.039M	296.160M	292.362M	355.467M	250.517M	134.546M	122.898M	105.450M	108.449M	90.069M	80.863M	74.886M	76.695M	74.444M	65.649M	71.871M	76.986M	71.781M	91.415M	76.187M	41.922M	36.424M	48.639M	82.247M	128.465M	29.905M	66.258M	88.934M	77.975M	81.157M
Operating Margin	21.89%	23.30%	27.32%	26.22%	31.90%	27.47%	18.49%	18.65%	19.52%	21.13%	19.16%	19.98%	19.78%	24.06%	25.78%	25.67%	31.49%	29.70%	29.36%	36.21%	34.14%	20.75%	17.56%	19.00%	28.86%	53.10%	21.29%	34.66%	40.43%	36.51%	35.22%
Interest Income	6.777M	5.962M	5.305M	3.598M	2.138M	1.557M	1.149M	0.968M	0.774M	0.660M	0.797M	0.645M	0.401M	0.531M	0.526M	0.296M	0.258M	0.426M	0.481M	0.155M	0.228M	0.120M	0.088M	0.058M	0.004M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	15.216M	14.603M	10.524M	7.438M	6.818M	7.987M	7.816M	6.040M	4.788M	3.598M	2.737M	2.756M	2.510M	1.827M	1.104M	1.381M	2.192M	2.118M	0.711M	0.480M	0.265M	0.492M	0.458M	0.376M	0.053M	0.239M	0.000M	0.053M	0.000M	0.021M	0.180M
Net Interest Income	-8.439M	-8.641M	-5.219M	-3.841M	-4.680M	-6.430M	-6.667M	-5.072M	-4.013M	-2.938M	-1.940M	-2.112M	-2.108M	-1.296M	-0.578M	-1.085M	-1.935M	-1.692M	-0.230M	-0.325M	-0.037M	-0.372M	-0.370M	-0.318M	-0.049M	-0.239M	0.000M	-0.053M	0.000M	-0.021M	-0.180M
Other Income / Expense	-152.511M	-152.155M	-194.786M	-158.431M	-141.534M	-96.084M	-66.231M	-54.042M	-44.095M	-50.597M	-44.810M	-40.707M	-36.775M	-48.092M	-41.859M	-39.683M	-54.195M	-57.498M	-50.618M	-64.120M	-56.164M	-15.337M	-9.268M	-30.924M	-65.341M	-117.741M	-9.862M	-50.506M	-64.310M	-58.373M	-54.597M
Pre-Tax Income	101.690M	96.243M	96.155M	130.090M	209.253M	148.003M	61.648M	63.784M	57.342M	54.914M	43.319M	38.045M	36.003M	27.307M	32.007M	24.881M	15.741M	17.795M	20.933M	26.970M	19.987M	26.213M	26.786M	17.398M	16.857M	10.485M	20.043M	15.699M	24.624M	19.581M	26.381M
Pre-Tax Margin	8.48%	8.72%	8.87%	11.67%	18.78%	16.23%	8.47%	9.68%	10.61%	10.70%	9.21%	9.40%	9.51%	8.57%	11.08%	9.73%	6.90%	6.87%	8.56%	10.68%	8.96%	12.97%	12.91%	6.79%	5.92%	4.33%	14.27%	8.21%	11.19%	9.17%	11.45%
Income Tax Expense	22.939M	21.053M	20.766M	28.342M	33.956M	25.789M	9.949M	9.393M	10.009M	9.735M	10.100M	9.973M	8.462M	6.980M	6.679M	6.068M	5.319M	7.132M	6.463M	8.139M	6.448M	8.696M	8.459M	7.426M	8.169M	4.252M	7.746M	8.774M	10.030M	7.495M	12.986M
Tax Rate	22.56%	21.87%	21.60%	21.79%	16.23%	17.42%	16.14%	14.73%	17.46%	17.73%	23.32%	26.21%	23.50%	25.56%	20.87%	24.39%	33.79%	35.00%	30.87%	30.18%	32.26%	33.17%	31.58%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%
Net Income	78.752M	75.190M	75.389M	101.748M	175.297M	122.214M	51.699M	54.391M	47.333M	45.179M	33.219M	28.072M	27.541M	20.327M	25.328M	18.813M	10.422M	10.663M	14.471M	18.831M	13.539M	17.517M	18.328M	9.971M	8.688M	6.233M	12.298M	6.925M	14.594M	12.086M	13.395M
Net Margin	6.56%	6.81%	6.95%	9.13%	15.73%	13.40%	7.10%	8.26%	8.76%	8.80%	7.07%	6.94%	7.28%	6.38%	8.77%	7.36%	4.57%	4.11%	5.92%	7.46%	6.07%	8.67%	8.83%	3.89%	3.05%	2.58%	8.76%	3.62%	6.63%	5.66%	5.81%
EBIT	262.641M	257.039M	296.160M	292.362M	355.467M	250.517M	134.546M	122.898M	105.450M	108.449M	90.069M	80.863M	74.886M	76.695M	74.444M	65.649M	71.871M	76.986M	71.781M	91.415M	76.187M	41.922M	36.424M	48.639M	82.247M	128.465M	29.905M	66.258M	88.934M	77.975M	81.157M
Depreciation & Amortization	89.552M	79.843M	78.954M	72.532M	59.673M	57.396M	50.687M	36.228M	29.017M	23.984M	21.401M	15.518M	13.636M	12.575M	11.827M	10.923M	10.724M	11.272M	10.693M	11.936M	10.692M	10.363M	11.400M	12.531M	14.175M	9.709M	8.233M	9.293M	9.420M	9.965M	13.290M
EBITDA	352.192M	336.882M	375.114M	364.893M	415.140M	307.913M	185.233M	159.126M	134.467M	132.433M	111.469M	96.381M	88.523M	89.270M	86.271M	76.572M	82.595M	88.258M	82.474M	103.351M	86.879M	52.285M	47.823M	61.171M	96.423M	138.174M	38.139M	75.551M	98.354M	87.940M	94.448M
EBITDA Margin	29.35%	30.53%	34.60%	32.73%	37.26%	33.76%	25.45%	24.15%	24.89%	25.80%	23.71%	23.81%	23.39%	28.01%	29.88%	29.94%	36.19%	34.05%	33.73%	40.93%	38.93%	25.87%	23.05%	23.89%	33.83%	57.12%	27.16%	39.52%	44.71%	41.17%	40.99%
NOPAT	203.396M	200.813M	232.199M	228.665M	297.784M	206.865M	112.833M	104.800M	87.043M	89.224M	69.069M	59.667M	57.285M	57.091M	58.909M	49.639M	47.584M	50.041M	49.620M	63.828M	51.608M	28.014M	24.922M	31.616M	53.461M	83.502M	19.439M	43.068M	57.807M	50.684M	52.752M
NOPAT Margin	16.95%	18.20%	21.42%	20.51%	26.72%	22.68%	15.51%	15.91%	16.11%	17.38%	14.69%	14.74%	15.13%	17.91%	20.40%	19.41%	20.85%	19.31%	20.29%	25.28%	23.13%	13.86%	12.01%	12.35%	18.76%	34.52%	13.84%	22.53%	26.28%	23.73%	22.89%
Owner's Earnings	168.303M	155.033M	154.342M	174.279M	234.970M	179.610M	102.386M	90.619M	76.350M	69.163M	54.620M	43.590M	41.177M	32.902M	37.155M	29.736M	21.146M	21.935M	25.164M	30.767M	24.231M	27.879M	29.727M	22.503M	22.864M	15.941M	20.531M	16.218M	24.014M	22.051M	26.685M
Owner's Earnings Margin	14.03%	14.05%	14.24%	15.63%	21.09%	19.69%	14.07%	13.75%	14.13%	13.47%	11.62%	10.77%	10.88%	10.32%	12.87%	11.63%	9.26%	8.46%	10.29%	12.19%	10.86%	13.80%	14.33%	8.79%	8.02%	6.59%	14.62%	8.48%	10.92%	10.32%	11.58%
EPS	0.30	0.29	0.29	0.39	0.68	0.48	0.22	0.25	0.23	0.22	0.16	0.15	0.16	0.14	0.19	0.15	0.08	0.09	0.11	0.15	0.13	0.26	0.24	0.11	0.13	0.11	0.29	0.16	0.45	0.38	0.38
EPS (Diluted)	0.30	0.29	0.29	0.39	0.68	0.48	0.22	0.25	0.23	0.22	0.16	0.15	0.16	0.14	0.19	0.15	0.08	0.09	0.11	0.15	0.13	0.26	0.24	0.11	0.13	0.11	0.29	0.16	0.45	0.38	0.38
Shares (Diluted)	259,907,691	262,942,878	257,364,876	258,199,405	256,382,937	256,513,676	230,931,339	221,948,050	205,391,818	205,004,808	202,046,926	192,244,288	174,069,280	148,811,959	136,822,683	125,907,619	123,082,499	115,848,179	130,892,944	128,617,960	106,353,672	66,490,115	76,844,564	87,066,846	65,964,697	57,750,333	42,358,730	44,470,942	32,547,390	31,952,618	35,200,403

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	245.70M	213.34M	230.16M	264.65M	259.21M	209.43M	117.37M	111.97M	93.37M	83.66M	74.54M	68.44M	59.45M	48.34M	44.05M	40.19M	34.30M	32.98M	31.69M	25.78M	38.00M	39.30M	37.70M	21.35M	18.71M	16.58M	14.91M	14.83M	13.72M	10.27M	12.23M
Short-Term Investments	53.61M	60.12M	61.68M	66.63M	56.45M	55.34M	23.13M	14.66M	11.08M	10.67M	22.81M	5.47M	6.46M	3.75M	8.17M	2.87M	5.43M	6.04M	7.04M	12.85M	6.46M	6.40M	6.01M	9.21M	9.40M	5.19M	5.46M	0.29M	0.11M	0.07M	0.00M
Cash & Short-Term Investments	299.31M	273.47M	291.84M	331.28M	315.67M	264.76M	140.50M	126.64M	104.45M	94.33M	97.35M	73.91M	65.91M	52.08M	52.22M	43.06M	39.73M	39.02M	38.73M	38.63M	44.46M	45.70M	43.70M	30.56M	28.12M	21.77M	20.38M	15.12M	13.83M	10.35M	12.23M
Net Receivables	225.97M	188.97M	185.36M	184.67M	178.18M	160.34M	139.97M	115.40M	110.17M	95.43M	85.99M	68.68M	65.95M	55.06M	46.17M	37.29M	30.06M	39.53M	43.81M	38.42M	35.29M	33.06M	23.63M	19.93M	27.40M	28.93M	38.03M	47.18M	46.00M	42.58M	48.73M
Inventory	238.42M	197.74M	200.30M	184.38M	171.87M	135.84M	117.31M	103.24M	86.22M	71.49M	66.81M	60.12M	53.36M	42.74M	37.50M	32.40M	29.44M	35.04M	35.11M	33.45M	32.24M	30.64M	32.27M	32.83M	37.65M	31.90M	32.78M	30.67M	27.56M	27.43M	37.74M
Other Current Assets	61.20M	51.05M	39.48M	44.98M	32.48M	24.12M	22.50M	25.96M	19.26M	17.70M	13.67M	15.02M	11.89M	7.70M	5.47M	5.37M	3.31M	3.76M	4.01M	5.74M	5.94M	6.46M	8.69M	6.22M	6.74M	8.38M	8.31M	12.72M	14.36M	9.92M	8.35M
Total Current Assets	824.89M	711.23M	716.98M	745.31M	698.19M	585.06M	420.29M	371.23M	320.10M	278.96M	263.81M	217.73M	197.10M	157.59M	141.37M	118.12M	102.55M	117.36M	121.67M	116.23M	117.92M	115.85M	108.29M	89.53M	99.91M	90.98M	99.50M	105.69M	101.75M	90.28M	107.05M
Property, Plant & Equipment	458.22M	417.92M	418.09M	358.27M	323.93M	255.87M	229.75M	180.93M	162.29M	132.39M	127.53M	101.29M	94.77M	82.23M	69.61M	58.01M	57.62M	63.14M	60.01M	54.52M	61.04M	60.95M	59.03M	60.08M	71.09M	48.38M	55.20M	54.32M	61.52M	63.68M	86.64M
Goodwill	212.28M	253.83M	258.16M	199.65M	177.99M	194.37M	188.91M	164.34M	128.09M	101.66M	91.59M	83.50M	70.20M	40.89M	22.15M	20.71M	19.45M	26.72M	53.88M	30.03M	2.18M	0.15M	0.00M	0.00M	0.95M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	211.44M	152.97M	163.73M	123.63M	123.77M	122.75M	117.21M	86.72M	64.38M	53.35M	39.01M	32.34M	29.01M	25.53M	17.50M	19.81M	15.19M	13.43M	14.27M	10.79M	11.45M	13.68M	32.33M	17.97M	21.72M	25.96M	19.09M	21.78M	17.58M	21.71M	23.16M
Long-Term Investments	41.58M	27.64M	32.10M	19.41M	16.94M	12.85M	12.77M	10.88M	9.84M	8.30M	7.39M	5.10M	3.45M	2.39M	1.25M	1.16M	1.26M	2.40M	0.56M	0.82M	0.23M	0.08M	0.04M	0.00M	0.11M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	8.88M	11.19M	9.96M	10.20M	11.44M	10.69M	7.03M	6.68M	4.24M	4.43M	3.54M	3.50M	3.41M	3.30M	3.86M	2.34M	2.22M	1.87M	2.68M	3.07M	1.45M	0.32M	0.71M	0.55M	3.61M	0.00M	0.00M	0.04M	0.00M	0.00M	0.00M
Other Non-Current Assets	41.21M	72.80M	35.05M	56.62M	50.27M	44.35M	17.87M	13.57M	8.12M	6.75M	5.53M	7.56M	5.48M	6.22M	5.17M	3.61M	4.81M	5.82M	5.73M	5.02M	8.14M	6.80M	8.68M	8.53M	9.84M	10.74M	5.01M	14.70M	11.42M	10.76M	12.35M
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	973.61M	936.34M	917.09M	767.78M	704.34M	640.87M	573.54M	463.11M	376.95M	306.88M	274.58M	233.29M	206.33M	160.57M	119.55M	105.64M	100.55M	113.37M	137.13M	104.25M	84.49M	81.98M	100.80M	87.13M	107.32M	85.08M	79.30M	90.84M	90.52M	96.15M	122.15M
Total Assets	1,798.50M	1,647.57M	1,634.07M	1,513.09M	1,402.53M	1,225.94M	993.83M	834.34M	697.06M	585.84M	538.39M	451.02M	403.43M	318.16M	260.91M	223.76M	203.10M	230.73M	258.80M	220.49M	202.41M	197.82M	209.09M	176.66M	207.23M	176.06M	178.80M	196.53M	192.27M	186.43M	229.20M
Accounts Payable	97.46M	93.94M	97.32M	88.22M	82.34M	66.72M	56.36M	50.76M	43.00M	38.11M	36.47M	32.08M	26.42M	22.31M	21.65M	20.45M	14.28M	14.17M	18.94M	18.11M	15.41M	17.36M	20.91M	18.25M	21.38M	13.74M	8.15M	13.75M	14.43M	13.77M	17.36M
Short-Term Debt	75.08M	52.07M	42.33M	32.08M	29.07M	35.07M	30.63M	31.12M	20.98M	16.26M	15.14M	16.97M	15.61M	9.47M	6.01M	5.55M	5.21M	7.71M	4.92M	5.31M	7.09M	4.03M	5.75M	3.48M	6.53M	3.56M	3.98M	5.34M	2.12M	4.56M	3.76M
Tax Payables	0.05M	8.54M	10.40M	15.54M	17.95M	13.94M	7.07M	6.18M	4.98M	4.33M	4.42M	3.94M	4.40M	2.55M	2.60M	1.74M	1.66M	1.08M	1.11M	2.66M	2.14M	0.66M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	8.27M	1.65M	9.54M	20.96M	42.06M	33.50M	15.97M	8.61M	13.26M	9.83M	8.18M	7.75M	6.33M	3.28M	2.47M	1.06M	0.72M	0.58M	1.02M	1.37M	1.48M	0.68M	1.64M	0.48M	2.26M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	71.79M	78.26M	69.90M	53.99M	66.39M	47.40M	39.52M	37.79M	27.52M	24.03M	26.61M	21.90M	20.28M	15.01M	11.50M	12.17M	10.22M	10.71M	10.27M	13.79M	9.03M	10.51M	13.48M	10.51M	13.86M	14.26M	16.63M	23.38M	18.56M	16.71M	24.10M
Total Current Liabilities	252.66M	234.46M	229.50M	210.79M	237.81M	196.63M	149.55M	134.45M	109.74M	92.57M	90.82M	82.63M	73.04M	52.63M	44.23M	40.97M	32.09M	34.25M	36.26M	41.24M	35.15M	33.23M	41.80M	32.72M	44.04M	31.56M	28.76M	42.47M	35.11M	35.04M	45.22M
Long-Term Debt	230.71M	202.53M	212.98M	207.58M	173.57M	178.09M	121.94M	104.83M	77.11M	75.32M	62.57M	60.13M	57.82M	34.36M	10.88M	7.66M	8.17M	8.59M	8.85M	9.59M	15.88M	25.95M	37.21M	40.61M	61.47M	27.87M	41.44M	53.75M	30.87M	29.71M	44.91M
Capital Lease Obligations	11.99M	36.19M	32.25M	32.76M	30.18M	27.63M	16.20M	0.79M	0.44M	0.61M	0.15M	0.53M	0.24M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	17.79M	23.31M	19.65M	20.28M	15.63M	13.81M	13.21M	13.65M	8.22M	6.94M	5.24M	4.92M	5.35M	4.74M	3.10M	2.30M	2.30M	2.44M	3.10M	2.81M	2.62M	1.27M	0.65M	0.51M	0.93M	1.59M	1.45M	2.53M	5.37M	6.07M	8.18M
Other Non-Current Liabilities	40.13M	28.16M	29.64M	23.52M	33.55M	39.71M	35.49M	25.64M	22.98M	12.12M	15.12M	14.57M	9.73M	3.52M	4.34M	2.47M	2.54M	4.92M	3.73M	3.85M	3.24M	7.71M	5.62M	6.33M	7.15M	3.74M	4.83M	5.07M	6.10M	2.25M	5.64M
Total Non-Current Liabilities	300.63M	290.19M	294.53M	284.15M	252.94M	259.24M	186.84M	144.92M	108.74M	95.00M	83.09M	80.15M	73.14M	42.62M	18.31M	12.43M	13.01M	15.95M	15.68M	16.24M	21.74M	34.93M	43.48M	47.45M	69.55M	33.20M	47.72M	61.35M	42.34M	38.03M	58.74M
Total Liabilities	553.28M	524.65M	524.03M	494.94M	490.75M	455.87M	336.39M	279.37M	218.48M	187.56M	173.91M	162.79M	146.18M	95.25M	62.54M	53.40M	45.10M	50.20M	51.94M	57.48M	56.89M	68.16M	85.28M	80.17M	113.58M	64.76M	76.48M	103.82M	77.45M	73.07M	103.95M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	40.16M	40.75M	40.34M	39.82M	38.62M	36.75M	30.34M	25.28M	24.76M	22.79M	19.64M	17.80M	16.76M	14.65M	14.02M	12.28M	10.11M	9.64M	6.82M	6.85M	6.30M	4.61M	5.85M	4.78M	6.42M	2.42M	2.47M	0.33M	0.03M	0.00M	0.00M
Retained Earnings	653.50M	571.75M	614.12M	595.82M	497.53M	349.61M	232.22M	215.31M	182.78M	174.35M	157.69M	123.31M	114.17M	99.34M	82.81M	64.52M	60.25M	56.79M	52.18M	56.82M	67.39M	64.63M	64.46M	57.33M	110.12M	58.51M	62.46M	62.12M	73.76M	60.43M	52.98M
Accumulated OCI	86.70M	4.57M	5.87M	12.89M	4.18M	-0.25M	0.21M	-4.01M	-2.95M	-5.49M	1.31M	-0.54M	-2.93M	-1.67M	-1.46M	-0.91M	-0.43M	-0.57M	0.29M	0.14M	-0.19M	-0.14M	-0.04M	-4.24M	-8.38M	-5.95M	-10.10M	-3.00M	-2.66M	-4.86M	-5.97M
Minority Interest	8.41M	5.28M	6.81M	4.45M	4.18M	2.54M	1.94M	1.14M	0.44M	0.40M	0.47M	0.35M	0.48M	0.35M	0.28M	0.12M	0.15M	0.10M	0.10M	0.07M	0.23M	0.16M	0.11M	0.15M	0.07M	0.08M	0.00M	0.00M	0.00M	0.00M	0.05M
Total Shareholders’ Equity	780.36M	617.07M	660.33M	648.54M	540.33M	386.11M	262.77M	236.57M	204.60M	191.66M	178.64M	140.58M	128.00M	112.33M	95.38M	75.89M	69.93M	65.85M	59.28M	63.81M	73.50M	69.10M	70.27M	57.87M	108.17M	54.98M	54.84M	59.44M	71.12M	55.57M	47.01M
Total Equity	788.77M	622.34M	667.14M	652.99M	544.51M	388.65M	264.70M	237.71M	205.03M	192.05M	179.11M	140.93M	128.47M	112.68M	95.66M	76.01M	70.08M	65.96M	59.39M	63.88M	73.73M	69.26M	70.38M	58.02M	108.24M	55.06M	54.84M	59.44M	71.12M	55.57M	47.05M
Total Liabilities & Equity	1,342.05M	1,146.99M	1,191.17M	1,147.93M	1,035.25M	844.52M	601.10M	517.08M	423.51M	379.61M	353.03M	303.72M	274.65M	207.92M	158.20M	129.41M	115.18M	116.16M	111.33M	121.36M	130.62M	137.41M	155.66M	138.20M	221.82M	119.82M	131.32M	163.26M	148.58M	128.65M	151.01M
Tangible Assets	1,374.78M	1,240.78M	1,212.18M	1,189.81M	1,100.77M	908.82M	687.71M	583.28M	504.59M	430.83M	407.80M	335.18M	304.21M	251.74M	221.26M	183.24M	168.45M	190.58M	190.65M	179.67M	188.78M	183.99M	176.76M	158.69M	184.56M	150.11M	159.70M	174.75M	174.69M	164.72M	206.04M
Tangible Equity	365.05M	215.55M	245.25M	329.71M	242.75M	71.53M	-41.41M	-13.35M	12.57M	37.04M	48.52M	25.09M	29.26M	46.25M	56.01M	35.49M	35.44M	25.81M	-8.76M	23.06M	60.10M	55.43M	38.05M	40.06M	85.56M	29.11M	35.74M	37.67M	53.54M	33.86M	23.89M
Tangible Book Value	365.05M	215.55M	245.25M	329.71M	242.75M	71.53M	-41.41M	-13.35M	12.57M	37.04M	48.52M	25.09M	29.26M	46.25M	56.01M	35.49M	35.44M	25.81M	-8.76M	23.06M	60.10M	55.43M	38.05M	40.06M	85.56M	29.11M	35.74M	37.67M	53.54M	33.86M	23.89M
Total Investments	86.54M	62.66M	69.85M	43.35M	29.83M	25.61M	22.46M	17.73M	15.30M	11.40M	11.93M	8.64M	8.98M	5.23M	4.49M	5.12M	4.64M	6.49M	7.73M	7.33M	6.35M	7.45M	4.87M	3.82M	11.99M	4.55M	6.80M	0.26M	0.00M	0.00M	0.00M
Net Debt	60.09M	41.25M	25.16M	-25.00M	-56.58M	3.73M	35.20M	23.97M	4.72M	7.91M	3.17M	8.65M	13.98M	-4.50M	-27.17M	-26.98M	-20.92M	-16.68M	-17.92M	-10.89M	-15.03M	-9.32M	5.26M	22.75M	49.29M	14.85M	30.51M	44.26M	19.27M	23.99M	36.44M

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	501.98M	361.02M	427.33M	468.31M	423.30M	358.08M	239.52M	204.55M	194.92M	144.40M	151.96M	136.20M	129.56M	111.17M	99.70M	90.39M	82.42M	70.89M	80.66M	87.23M	85.61M	69.55M	76.91M	66.30M	71.49M	74.44M	58.00M	56.36M	63.17M	55.75M	55.26M
Total Capital	1,705.38M	1,503.00M	1,467.14M	1,342.54M	1,161.64M	1,000.42M	816.25M	635.54M	522.81M	443.24M	400.76M	363.05M	341.44M	285.54M	238.66M	218.80M	201.46M	202.51M	223.31M	191.29M	191.12M	190.52M	204.49M	170.01M	228.16M	179.33M	163.79M	190.89M	167.01M	153.07M	177.60M
Capital Employed	1,968.58M	1,581.35M	1,530.72M	1,465.10M	1,362.50M	1,144.17M	932.70M	735.64M	663.14M	532.65M	501.52M	435.87M	410.25M	334.87M	278.44M	247.32M	231.82M	240.81M	277.47M	224.26M	202.44M	196.69M	198.79M	181.37M	227.07M	253.91M	211.72M	182.13M	170.66M	164.75M	191.04M
Invested Capital	1,459.68M	1,289.66M	1,236.98M	1,077.88M	902.42M	790.99M	698.88M	523.57M	429.44M	359.57M	326.23M	294.61M	281.99M	237.21M	194.61M	178.61M	167.15M	169.52M	191.62M	165.50M	153.12M	151.22M	166.79M	148.66M	209.44M	162.75M	148.88M	176.06M	153.29M	142.80M	165.37M

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	82.08M	84.81M	79.62M	70.72M	60.39M	57.65M	51.33M	36.60M	30.44M	23.85M	20.00M	16.68M	14.84M	13.38M	11.93M	11.59M	12.30M	11.46M	11.90M	13.15M	10.60M	11.03M	12.46M	13.18M	17.62M	11.31M	8.23M	9.53M	9.40M	11.86M	13.29M
Deferred Income Tax	0.00M	0.00M	-0.50M	-1.31M	-1.52M	-1.95M	-1.70M	-0.61M	-0.31M	-0.15M	-0.13M	0.00M	0.00M	0.00M	0.01M	-0.01M	0.06M	0.00M	-0.03M	0.01M	-0.02M	0.00M	0.35M	0.30M	0.06M	0.20M	0.96M	-0.61M	-0.49M	-0.23M	0.00M
Stock-Based Compensation	5.73M	5.38M	6.87M	7.29M	7.43M	5.91M	4.98M	3.93M	2.71M	3.22M	2.07M	1.41M	1.11M	0.91M	0.70M	0.84M	1.03M	0.35M	0.39M	0.08M	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	-17.48M	-7.45M	-23.01M	-26.87M	-20.77M	-2.65M	-15.05M	-15.17M	-8.24M	-4.95M	-5.56M	-5.42M	-4.62M	-3.34M	-5.90M	-2.38M	0.11M	-4.07M	-1.61M	-2.20M	-2.12M	0.36M	-0.38M	-1.07M	-3.78M	-1.52M	-3.02M	-4.31M	-3.68M	-4.17M	-2.16M
Accounts Receivable	-6.80M	-12.67M	-6.75M	-12.75M	-20.57M	-10.77M	-8.72M	-10.00M	-9.41M	-4.20M	-2.61M	-4.43M	-2.45M	-1.15M	-0.10M	-0.30M	-0.05M	0.00M	0.00M	-0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-6.82M	-3.74M	-6.34M	-24.60M	-21.82M	-16.95M	-10.50M	-9.21M	-6.00M	-1.25M	-2.97M	-2.81M	-3.48M	-2.37M	-2.99M	-2.28M	0.52M	-2.18M	-2.49M	-2.58M	-1.78M	-0.46M	-0.19M	0.09M	-1.88M	-1.11M	-0.36M	-2.21M	-0.62M	-0.87M	-1.75M
Accounts Payable	0.01M	3.42M	-0.22M	7.87M	13.58M	15.74M	3.40M	4.75M	3.96M	0.93M	0.55M	0.09M	0.00M	0.06M	0.06M	0.17M	-0.05M	0.00M	0.00M	0.27M	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	1.02M	2.10M	-3.30M	-5.27M	3.20M	2.99M	-0.49M	-2.06M	-1.00M	-1.26M	-1.23M	-0.78M	-0.62M	-0.31M	-1.39M	0.08M	-0.13M	-1.89M	0.54M	-0.65M	0.14M	1.72M	1.54M	-0.13M	-0.77M	2.27M	-1.49M	-0.75M	-1.54M	-1.84M	-0.96M
Other Non-Cash Items	21.25M	4.95M	2.87M	-0.99M	3.80M	9.12M	4.12M	0.80M	0.41M	0.27M	0.74M	-0.78M	-0.43M	0.82M	0.84M	0.12M	1.01M	3.04M	0.54M	-0.03M	3.90M	1.93M	0.47M	3.01M	6.84M	1.55M	0.68M	1.23M	0.69M	0.37M	0.80M
Net Cash from Operating Activities	152.75M	153.58M	139.07M	151.68M	264.05M	214.08M	122.79M	97.54M	71.33M	68.31M	60.56M	49.29M	38.33M	32.10M	30.72M	35.80M	40.34M	30.36M	27.87M	23.56M	25.84M	33.59M	42.03M	36.24M	35.60M	22.10M	22.16M	20.10M	24.42M	23.07M	25.06M
Capital Expenditures (PPE)	-67.08M	-72.61M	-74.54M	-82.81M	-71.52M	-54.65M	-49.04M	-42.70M	-36.37M	-30.28M	-28.02M	-22.98M	-22.35M	-16.66M	-16.17M	-11.28M	-10.65M	-13.54M	-15.04M	-14.92M	-14.22M	-15.79M	-12.26M	-12.54M	-17.33M	-12.98M	-19.39M	-27.81M	-21.44M	-11.04M	-11.57M
Acquisitions (Net)	-0.14M	-1.37M	-4.94M	-9.30M	-7.83M	-5.31M	-11.87M	-6.92M	-10.37M	-1.07M	-3.17M	-1.75M	-1.23M	-2.20M	-1.31M	-0.88M	-0.57M	-1.33M	-2.46M	-1.08M	-2.10M	-0.23M	-0.13M	-1.23M	-3.85M	-1.23M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-54.68M	-49.17M	-47.34M	-66.15M	-46.62M	-44.71M	-25.72M	-15.41M	-8.96M	-10.39M	-8.23M	-6.61M	-3.10M	-1.54M	-0.73M	-0.35M	-1.02M	-1.80M	-4.79M	-3.88M	-4.07M	-1.83M	-1.30M	-1.70M	-5.66M	-1.29M	-0.92M	-1.01M	-3.07M	-0.66M	-1.22M
Sales / Maturities of Investments	56.94M	34.27M	51.94M	63.69M	53.35M	34.52M	25.52M	13.45M	16.60M	10.58M	10.92M	6.07M	2.74M	2.32M	1.54M	0.95M	1.19M	4.02M	1.47M	2.23M	3.39M	0.94M	2.81M	1.13M	3.71M	3.10M	1.39M	0.34M	1.35M	1.24M	1.26M
Other Investing Activities	-1.49M	-1.86M	0.81M	-0.19M	1.15M	-0.83M	-0.33M	1.04M	-0.98M	0.19M	0.41M	0.14M	-0.35M	-0.41M	-0.62M	0.13M	-0.24M	0.37M	-0.19M	0.58M	0.30M	1.16M	0.75M	0.60M	0.94M	-0.23M	0.19M	-0.67M	-2.07M	-1.27M	-7.37M
Net Cash from Investing Activities	-105.19M	-121.46M	-112.45M	-111.29M	-121.34M	-102.46M	-72.45M	-68.41M	-55.53M	-34.95M	-39.02M	-27.14M	-23.60M	-31.10M	-19.83M	-14.34M	-13.55M	-14.25M	-23.04M	-20.37M	-25.95M	-20.67M	-22.31M	-11.44M	-28.29M	-24.73M	-12.66M	-23.68M	-17.10M	-16.85M	-32.10M
Net Debt Issuance	-0.50M	-0.12M	4.65M	-0.82M	-6.10M	1.18M	0.13M	6.55M	3.57M	-2.16M	-2.67M	-1.40M	1.07M	1.10M	0.17M	-1.23M	-1.27M	0.24M	0.52M	0.45M	0.12M	-0.28M	-0.49M	-2.34M	-0.13M	-0.58M	1.07M	5.32M	0.59M	0.09M	5.96M
Long-Term Debt Issuance	-1.62M	-1.13M	2.99M	-0.07M	-5.25M	0.19M	-0.18M	5.55M	4.00M	-0.21M	-2.86M	-1.10M	2.12M	1.09M	0.19M	-0.59M	-1.18M	0.14M	0.41M	-0.10M	0.10M	-0.33M	-0.23M	-1.40M	0.59M	-0.63M	1.09M	0.84M	0.04M	-0.23M	6.16M
Short-Term Debt Issuance	-0.12M	0.00M	0.00M	-0.31M	-0.08M	-0.23M	0.00M	0.00M	0.00M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	-0.19M	-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
Net Stock Issuance	-1.63M	-4.19M	-1.29M	-1.78M	0.08M	-0.67M	-0.28M	-0.02M	-0.74M	-0.68M	-0.03M	0.31M	0.15M	-0.06M	0.08M	0.09M	-0.05M	-0.22M	1.11M	1.00M	1.88M	3.21M	2.04M	0.91M	2.17M	4.99M	0.98M	0.45M	1.65M	0.28M	0.19M
Common Stock Issuance	0.01M	1.33M	0.05M	0.42M	4.59M	1.11M	0.80M	0.63M	0.45M	0.17M	0.41M	0.49M	0.45M	0.17M	0.67M	0.44M	0.35M	0.97M	3.51M	3.59M	3.57M	4.90M	3.08M	2.03M	3.00M	6.41M	1.57M	1.18M	2.45M	2.37M	3.35M
Common Stock Repurchased	-1.07M	-4.46M	-2.48M	-4.37M	-6.87M	-3.13M	-2.12M	-0.99M	-1.50M	-1.31M	-0.50M	-0.05M	-0.44M	-0.47M	-0.18M	-0.59M	-0.18M	-0.62M	-0.59M	-0.14M	-0.02M	-0.04M	-0.06M	-0.04M	-0.19M	-0.39M	-1.02M	-0.77M	-0.08M	-1.40M	-1.21M
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	-14.89M	-28.39M	-28.94M	-33.26M	-28.04M	-16.41M	-13.98M	-12.11M	-12.06M	-9.65M	-6.92M	-6.57M	-6.02M	-3.99M	-2.23M	-2.23M	-1.82M	-2.17M	-2.10M	-1.63M	-2.01M	-2.84M	-2.35M	-2.84M	-2.61M	-1.22M	-1.08M	-1.31M	-1.42M	-1.35M	-2.33M
Common Dividends Paid	-14.55M	-27.87M	-28.92M	-32.47M	-27.53M	-15.74M	-14.37M	-12.12M	-12.13M	-9.68M	-6.81M	-6.24M	-6.01M	-4.86M	-3.13M	-2.72M	-1.99M	-2.42M	-2.47M	-1.52M	-1.32M	-1.42M	-1.33M	-2.32M	-1.88M	-0.75M	-0.36M	-0.50M	-0.67M	-0.70M	-1.30M
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	-10.18M	-6.01M	-7.55M	-8.54M	-2.71M	-3.75M	1.33M	0.78M	0.96M	1.14M	3.61M	0.45M	0.12M	0.73M	0.52M	0.25M	0.37M	0.60M	-0.06M	0.10M	0.13M	0.03M	-0.39M	-0.09M	0.04M	0.00M	0.02M	0.24M	-0.01M	0.01M	-0.02M
Net Cash from Financing Activities	-56.50M	-36.10M	-50.02M	-47.57M	-39.47M	-5.21M	-32.22M	-10.99M	3.35M	-11.47M	-5.34M	-8.08M	-1.98M	-3.87M	-1.91M	-8.45M	-7.67M	-2.73M	-1.18M	-1.04M	2.78M	1.94M	-3.17M	-5.46M	1.18M	3.09M	1.99M	8.39M	3.80M	1.47M	6.24M
Effect of FX on Cash	1.07M	0.47M	0.97M	0.81M	-0.33M	-0.58M	-0.15M	-0.99M	0.45M	-0.28M	-0.36M	0.02M	0.02M	0.04M	-0.12M	-0.06M	-0.03M	-0.14M	0.12M	0.24M	0.06M	0.08M	0.23M	0.43M	-0.26M	-0.28M	-0.52M	0.11M	-0.69M	-0.40M	0.36M
Net Change in Cash	16.56M	-0.77M	-20.75M	-14.90M	26.81M	84.90M	6.76M	7.63M	6.54M	6.67M	5.20M	1.42M	6.81M	3.24M	2.35M	4.72M	6.77M	2.87M	2.37M	3.48M	1.29M	5.64M	6.35M	0.47M	2.94M	3.19M	0.11M	-2.37M	0.27M	2.59M	-1.72M
Cash at Beginning of Period	181.04M	222.62M	253.06M	250.75M	208.85M	114.91M	102.44M	92.83M	82.50M	72.66M	69.70M	59.02M	50.66M	43.19M	39.65M	33.35M	30.73M	27.23M	26.74M	32.11M	39.58M	36.55M	25.37M	19.79M	18.67M	15.55M	11.40M	12.57M	10.37M	7.97M	11.84M
Cash at End of Period	252.04M	199.95M	222.62M	254.69M	260.15M	201.97M	113.57M	102.09M	90.79M	81.76M	73.41M	66.34M	58.60M	47.95M	43.79M	40.35M	36.79M	33.01M	32.93M	28.95M	39.91M	42.34M	42.66M	22.43M	19.45M	18.19M	14.84M	10.77M	16.63M	10.68M	9.96M
Operating Cash Flow	149.91M	153.93M	137.64M	151.66M	264.04M	214.08M	122.79M	97.54M	71.33M	68.31M	60.56M	49.29M	38.33M	32.10M	30.72M	35.80M	40.34M	30.36M	27.87M	23.56M	25.84M	33.59M	42.03M	36.24M	35.60M	22.10M	22.16M	20.10M	24.42M	23.07M	25.06M
Capital Expenditure	-73.58M	-78.62M	-75.29M	-83.35M	-71.61M	-54.72M	-49.11M	-42.67M	-36.35M	-30.29M	-28.01M	-22.98M	-22.36M	-16.67M	-16.15M	-11.27M	-10.83M	-13.54M	-15.03M	-14.89M	-14.35M	-15.79M	-12.26M	-12.54M	-17.33M	-12.98M	-19.39M	-27.81M	-21.44M	-11.04M	-11.57M
Free Cash Flow	79.22M	86.40M	67.11M	71.94M	161.25M	140.81M	61.34M	47.08M	30.89M	24.91M	28.11M	20.88M	15.54M	13.58M	13.67M	23.79M	19.59M	12.80M	10.83M	9.83M	12.46M	17.93M	23.48M	19.60M	13.47M	7.44M	-0.41M	-4.93M	2.23M	8.28M	8.62M

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	182.01M	169.82M	185.42M	218.16M	323.03M	226.12M	152.09M	119.03M	101.29M	99.03M	81.84M	71.86M	58.81M	44.10M	47.13M	40.94M	26.29M	32.60M	35.65M	41.22M	40.30M	40.88M	39.37M	33.08M	32.51M	36.33M	30.39M	30.39M	38.95M	31.30M	43.06M
(-) Tax Adjustment	41.06M	37.15M	40.05M	47.53M	52.42M	39.40M	24.55M	17.53M	17.68M	17.56M	19.08M	18.84M	13.82M	11.27M	9.84M	9.98M	8.88M	13.07M	11.01M	12.44M	13.00M	13.56M	12.43M	14.12M	15.75M	14.73M	11.74M	16.98M	15.86M	11.98M	21.20M
(-) Change In Working Capital	-17.48M	-7.45M	-23.01M	-26.87M	-20.77M	-2.65M	-15.05M	-15.17M	-8.24M	-4.95M	-5.56M	-5.42M	-4.62M	-3.34M	-5.90M	-2.38M	0.11M	-4.07M	-1.61M	-2.20M	-2.12M	0.36M	-0.38M	-1.07M	-3.78M	-1.52M	-3.02M	-4.31M	-3.68M	-4.17M	-2.16M
(-) Capital Expenditure	73.58M	78.62M	75.29M	83.35M	71.61M	54.72M	49.11M	42.67M	36.35M	30.29M	28.01M	22.98M	22.36M	16.67M	16.15M	11.27M	10.83M	13.54M	15.03M	14.89M	14.35M	15.79M	12.26M	12.54M	17.33M	12.98M	19.39M	27.81M	21.44M	11.04M	11.57M
Unlevered Free Cash Flow	84.85M	61.50M	93.09M	114.15M	219.78M	134.65M	93.49M	73.99M	55.49M	56.14M	40.31M	35.47M	27.25M	19.51M	27.04M	22.06M	6.47M	10.06M	11.22M	16.09M	15.07M	11.18M	15.06M	7.49M	3.20M	10.13M	2.27M	-10.10M	5.33M	12.45M	12.45M
(-) Net Interest Income After Taxes	-6.54M	-6.75M	-4.09M	-3.00M	-3.92M	-5.31M	-5.59M	-4.33M	-3.31M	-2.42M	-1.49M	-1.56M	-1.61M	-0.96M	-0.46M	-0.82M	-1.28M	-1.01M	-0.16M	-0.23M	-0.02M	-0.25M	-0.25M	-0.18M	-0.03M	-0.14M	0.00M	-0.02M	0.00M	-0.01M	-0.09M
Net Debt Issuance	-0.50M	-0.12M	4.65M	-0.82M	-6.10M	1.18M	0.13M	6.55M	3.57M	-2.16M	-2.67M	-1.40M	1.07M	1.10M	0.17M	-1.23M	-1.27M	0.24M	0.52M	0.45M	0.12M	-0.28M	-0.49M	-2.34M	-0.13M	-0.58M	1.07M	5.32M	0.59M	0.09M	5.96M
Levered Free Cash Flow	90.88M	68.13M	101.84M	116.33M	217.60M	141.14M	99.21M	84.87M	62.37M	56.39M	39.12M	35.63M	29.93M	21.57M	27.67M	21.65M	6.48M	11.31M	11.90M	16.77M	15.22M	11.15M	14.83M	5.33M	3.10M	9.69M	3.34M	-4.76M	5.91M	12.56M	18.50M