Furnishings, Fixtures & Appliances

Category: Industry Averages Base Ticker: 1999.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	7.99	8.67	8.48	8.82	11.09	9.40	8.34	7.81	10.14	9.00	8.68	7.66	6.38	5.16	4.79	4.82	3.59	3.15	4.61	5.40	4.64	6.50	6.26	5.42	5.67	5.52	6.83	9.25	7.33	5.70	4.76
Market Capitalization	1,223.96M	1,220.17M	1,221.74M	1,204.74M	1,521.83M	1,432.14M	1,190.37M	1,004.50M	1,265.96M	1,136.98M	1,085.83M	740.69M	662.05M	490.50M	497.93M	446.77M	349.47M	228.99M	372.27M	299.41M	262.71M	288.89M	350.99M	309.53M	428.72M	481.32M	551.59M	754.78M	636.34M	538.86M	418.50M
(-) Cash & Equivalents	186.23M	193.21M	217.03M	190.62M	209.50M	177.47M	124.70M	122.74M	126.34M	106.13M	90.29M	86.46M	78.81M	75.10M	70.73M	61.67M	46.10M	33.81M	26.14M	26.11M	29.26M	32.76M	29.67M	24.89M	35.58M	22.81M	20.58M	22.67M	15.01M	17.82M	11.62M
(+) Total Debt	418.99M	315.41M	302.21M	269.12M	240.73M	182.91M	172.01M	139.36M	99.56M	78.23M	60.41M	51.07M	47.17M	43.70M	42.06M	40.71M	34.96M	39.82M	35.68M	38.68M	57.42M	52.85M	57.27M	41.10M	49.42M	59.04M	42.60M	51.78M	52.67M	48.74M	55.69M
Enterprise Value	1,539.01M	1,389.11M	1,250.24M	1,244.44M	1,526.34M	1,394.38M	1,221.52M	1,059.03M	1,293.19M	1,101.97M	1,110.65M	726.46M	697.73M	503.37M	483.02M	445.34M	364.57M	261.71M	391.97M	320.08M	299.84M	362.43M	368.44M	319.57M	471.57M	502.05M	574.77M	784.82M	683.59M	582.38M	457.88M

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	1,404.255M	1,365.147M	1,355.670M	1,337.478M	1,232.303M	1,083.913M	975.952M	891.873M	823.586M	722.766M	715.173M	670.089M	617.517M	548.695M	539.813M	489.125M	439.351M	442.122M	387.386M	371.086M	381.126M	453.721M	457.241M	416.111M	479.843M	509.536M	468.811M	464.473M	458.299M	445.902M	407.314M
Cost of Revenue	955.574M	918.695M	890.276M	877.272M	827.623M	711.752M	650.307M	581.733M	533.015M	471.180M	451.969M	413.056M	384.296M	334.265M	343.896M	298.261M	298.556M	285.539M	258.537M	254.128M	264.923M	334.286M	338.801M	303.717M	318.569M	351.614M	318.259M	280.764M	270.723M	266.216M	234.813M
Gross Profit	448.681M	446.452M	465.394M	460.206M	404.679M	372.161M	325.644M	310.141M	290.571M	251.586M	263.204M	257.033M	233.221M	214.430M	195.918M	190.865M	140.795M	156.583M	128.849M	116.958M	116.203M	119.434M	118.440M	112.393M	161.274M	157.923M	150.553M	183.710M	187.576M	179.686M	172.501M
Gross Margin	31.95%	32.70%	34.33%	34.41%	32.84%	34.33%	33.37%	34.77%	35.28%	34.81%	36.80%	38.36%	37.77%	39.08%	36.29%	39.02%	32.05%	35.42%	33.26%	31.52%	30.49%	26.32%	25.90%	27.01%	33.61%	30.99%	32.11%	39.55%	40.93%	40.30%	42.35%
R&D Expenses	20.859M	24.961M	25.090M	23.302M	22.021M	17.972M	16.176M	13.423M	11.272M	8.943M	7.709M	5.881M	4.907M	3.991M	1.126M	0.964M	0.273M	0.000M	0.006M	0.001M	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	266.914M	251.042M	243.828M	261.960M	231.288M	206.810M	201.926M	184.257M	166.336M	161.475M	149.512M	141.662M	129.043M	91.674M	71.109M	63.256M	60.435M	66.047M	48.394M	47.548M	43.792M	73.513M	89.888M	80.993M	85.617M	93.495M	84.988M	74.306M	68.097M	53.274M	26.584M
Operating Expenses	287.773M	276.003M	268.918M	285.262M	253.309M	224.781M	218.101M	197.680M	177.607M	170.418M	157.221M	147.542M	133.949M	95.665M	72.235M	64.219M	60.708M	66.047M	48.400M	47.550M	43.792M	73.513M	89.888M	80.993M	85.617M	93.495M	84.988M	74.306M	68.097M	53.274M	26.584M
Operating Income	160.907M	170.449M	196.476M	174.944M	151.370M	147.379M	107.543M	112.461M	112.963M	81.168M	105.984M	109.491M	99.272M	118.765M	123.682M	126.645M	80.086M	90.537M	80.450M	69.408M	72.411M	45.922M	28.552M	31.400M	75.657M	64.428M	65.564M	109.403M	119.478M	126.412M	145.917M
Operating Margin	11.46%	12.49%	14.49%	13.08%	12.28%	13.60%	11.02%	12.61%	13.72%	11.23%	14.82%	16.34%	16.08%	21.65%	22.91%	25.89%	18.23%	20.48%	20.77%	18.70%	19.00%	10.12%	6.24%	7.55%	15.77%	12.64%	13.99%	23.55%	26.07%	28.35%	35.82%
Interest Income	6.050M	5.806M	4.506M	3.498M	2.441M	2.039M	2.264M	1.976M	1.981M	1.275M	1.391M	1.348M	1.110M	1.239M	1.084M	0.700M	0.739M	1.170M	0.484M	0.324M	0.273M	0.412M	0.400M	0.514M	0.244M	0.107M	0.000M	0.000M	0.000M	0.000M	0.012M
Interest Expense	15.296M	16.411M	15.302M	10.199M	7.745M	8.689M	7.862M	5.851M	3.459M	2.806M	2.506M	2.622M	2.071M	2.295M	2.620M	2.690M	3.239M	3.248M	2.531M	1.519M	1.493M	1.567M	1.045M	0.380M	0.544M	0.538M	0.242M	0.164M	1.218M	0.591M	1.065M
Net Interest Income	-9.247M	-10.605M	-10.796M	-6.702M	-5.304M	-6.650M	-5.598M	-3.874M	-1.479M	-1.531M	-1.115M	-1.275M	-0.961M	-1.056M	-1.536M	-1.991M	-2.500M	-2.079M	-2.046M	-1.195M	-1.220M	-1.155M	-0.646M	0.134M	-0.301M	-0.432M	-0.242M	-0.164M	-1.218M	-0.591M	-1.053M
Other Income / Expense	-62.929M	-83.534M	-95.998M	-83.912M	-52.701M	-57.862M	-21.854M	-43.439M	-47.357M	-21.199M	-55.586M	-63.721M	-58.909M	-83.944M	-92.319M	-97.310M	-60.142M	-71.934M	-57.064M	-50.535M	-54.872M	-25.167M	-4.460M	-10.952M	-58.354M	-30.488M	-27.727M	-71.727M	-84.524M	-93.616M	-110.807M
Pre-Tax Income	88.732M	76.311M	89.683M	84.330M	93.365M	82.867M	80.091M	65.148M	64.127M	58.438M	49.283M	44.496M	39.403M	33.765M	29.827M	27.344M	17.443M	16.524M	21.339M	17.678M	16.319M	19.599M	23.446M	20.582M	17.003M	33.508M	37.595M	37.511M	33.736M	32.205M	34.057M
Pre-Tax Margin	6.32%	5.59%	6.62%	6.31%	7.58%	7.65%	8.21%	7.30%	7.79%	8.09%	6.89%	6.64%	6.38%	6.15%	5.53%	5.59%	3.97%	3.74%	5.51%	4.76%	4.28%	4.32%	5.13%	4.95%	3.54%	6.58%	8.02%	8.08%	7.36%	7.22%	8.36%
Income Tax Expense	20.895M	16.681M	16.148M	17.485M	17.826M	17.758M	16.197M	15.713M	16.190M	14.140M	12.250M	10.778M	9.600M	7.719M	6.547M	6.465M	4.389M	4.731M	5.123M	4.827M	5.307M	5.845M	5.851M	5.858M	7.042M	9.426M	11.143M	12.541M	10.452M	10.557M	11.171M
Tax Rate	23.55%	21.86%	18.01%	20.73%	19.09%	21.43%	20.22%	24.12%	25.25%	24.20%	24.86%	24.22%	24.36%	22.86%	21.95%	23.64%	25.16%	28.63%	24.01%	27.31%	32.52%	29.82%	24.96%	28.46%	35.00%	28.13%	29.64%	33.43%	30.98%	32.78%	32.80%
Net Income	67.836M	59.629M	73.534M	66.845M	75.539M	65.109M	63.894M	49.434M	47.938M	44.299M	37.032M	33.717M	29.803M	26.046M	23.280M	20.879M	13.054M	11.792M	16.216M	12.851M	11.012M	13.754M	17.594M	14.724M	9.961M	24.081M	26.452M	24.970M	23.284M	21.648M	22.887M
Net Margin	4.83%	4.37%	5.42%	5.00%	6.13%	6.01%	6.55%	5.54%	5.82%	6.13%	5.18%	5.03%	4.83%	4.75%	4.31%	4.27%	2.97%	2.67%	4.19%	3.46%	2.89%	3.03%	3.85%	3.54%	2.08%	4.73%	5.64%	5.38%	5.08%	4.85%	5.62%
EBIT	160.907M	170.449M	196.476M	174.944M	151.370M	147.379M	107.543M	112.461M	112.963M	81.168M	105.984M	109.491M	99.272M	118.765M	123.682M	126.645M	80.086M	90.537M	80.450M	69.408M	72.411M	45.922M	28.552M	31.400M	75.657M	64.428M	65.564M	109.403M	119.478M	126.412M	145.917M
Depreciation & Amortization	34.007M	47.807M	45.871M	43.346M	37.233M	33.716M	31.061M	23.376M	19.425M	17.443M	16.353M	15.432M	14.682M	13.220M	12.619M	12.792M	13.764M	13.204M	10.151M	10.516M	11.609M	12.612M	14.249M	15.366M	14.527M	16.170M	11.910M	10.169M	11.926M	10.220M	9.531M
EBITDA	194.914M	218.256M	242.347M	218.290M	188.603M	181.095M	138.605M	135.837M	132.389M	98.610M	122.337M	124.923M	113.954M	131.985M	136.302M	139.438M	93.850M	103.741M	90.600M	79.924M	84.021M	58.534M	42.801M	46.766M	90.183M	80.598M	77.474M	119.572M	131.404M	136.632M	155.448M
EBITDA Margin	13.88%	15.99%	17.88%	16.32%	15.30%	16.71%	14.20%	15.23%	16.07%	13.64%	17.11%	18.64%	18.45%	24.05%	25.25%	28.51%	21.36%	23.46%	23.39%	21.54%	22.05%	12.90%	9.36%	11.24%	18.79%	15.82%	16.53%	25.74%	28.67%	30.64%	38.16%
NOPAT	123.016M	133.189M	161.099M	138.671M	122.469M	115.796M	85.794M	85.336M	84.444M	61.528M	79.639M	82.969M	75.087M	91.615M	96.535M	96.702M	59.934M	64.613M	61.137M	50.455M	48.862M	32.226M	21.426M	22.463M	49.177M	46.303M	46.131M	72.826M	82.462M	84.973M	98.057M
NOPAT Margin	8.76%	9.76%	11.88%	10.37%	9.94%	10.68%	8.79%	9.57%	10.25%	8.51%	11.14%	12.38%	12.16%	16.70%	17.88%	19.77%	13.64%	14.61%	15.78%	13.60%	12.82%	7.10%	4.69%	5.40%	10.25%	9.09%	9.84%	15.68%	17.99%	19.06%	24.07%
Owner's Earnings	101.843M	107.436M	119.406M	110.192M	112.772M	98.825M	94.955M	72.810M	67.363M	61.741M	53.385M	49.150M	44.485M	39.266M	35.899M	33.672M	26.818M	24.997M	26.367M	23.367M	22.621M	26.366M	31.843M	30.090M	24.487M	40.252M	38.362M	35.139M	35.210M	31.867M	32.418M
Owner's Earnings Margin	7.25%	7.87%	8.81%	8.24%	9.15%	9.12%	9.73%	8.16%	8.18%	8.54%	7.46%	7.33%	7.20%	7.16%	6.65%	6.88%	6.10%	5.65%	6.81%	6.30%	5.94%	5.81%	6.96%	7.23%	5.10%	7.90%	8.18%	7.57%	7.68%	7.15%	7.96%
EPS	0.20	0.17	0.21	0.19	0.21	0.18	0.18	0.13	0.14	0.14	0.13	0.11	0.10	0.09	0.08	0.08	0.06	0.05	0.08	0.07	0.06	0.06	0.08	0.08	0.04	0.12	0.14	0.13	0.12	0.11	0.10
EPS (Diluted)	0.20	0.17	0.21	0.19	0.21	0.18	0.18	0.13	0.14	0.14	0.13	0.11	0.10	0.09	0.08	0.08	0.06	0.05	0.08	0.07	0.06	0.06	0.08	0.08	0.04	0.12	0.14	0.13	0.12	0.11	0.10
Shares (Diluted)	343,397,126	343,366,017	342,197,128	349,415,698	366,349,906	359,349,663	364,319,979	377,338,912	338,056,342	306,440,078	295,383,509	294,691,996	288,166,156	275,714,310	278,402,994	248,077,484	222,579,747	216,415,349	216,089,727	195,367,259	194,082,470	229,544,092	212,231,993	195,885,579	230,838,871	202,310,093	195,566,589	191,745,027	196,681,124	191,891,956	230,527,950

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	187.70M	193.21M	217.03M	192.20M	209.53M	178.77M	125.62M	123.67M	126.34M	106.13M	90.29M	86.46M	78.81M	75.10M	70.73M	61.67M	46.10M	33.81M	26.38M	27.69M	29.66M	33.31M	29.67M	24.89M	35.58M	22.81M	20.58M	22.67M	15.01M	17.82M	11.62M
Short-Term Investments	55.05M	56.97M	37.33M	46.59M	33.08M	50.49M	47.61M	12.24M	11.97M	16.46M	12.17M	15.80M	8.92M	4.45M	7.38M	7.39M	4.72M	5.30M	6.67M	6.61M	4.46M	4.71M	2.27M	4.09M	1.65M	5.60M	0.81M	3.58M	0.35M	0.07M	0.45M
Cash & Short-Term Investments	242.75M	250.18M	254.36M	238.79M	242.61M	229.27M	173.23M	135.91M	138.30M	122.60M	102.46M	102.26M	87.73M	79.54M	78.12M	69.06M	50.82M	39.11M	33.04M	34.31M	34.12M	38.02M	31.94M	28.99M	37.23M	28.40M	21.39M	26.25M	15.36M	17.90M	12.07M
Net Receivables	191.31M	204.49M	187.14M	174.36M	172.16M	163.15M	153.74M	137.37M	115.81M	106.78M	109.13M	100.88M	84.13M	83.65M	72.42M	65.53M	63.84M	60.41M	48.25M	48.62M	40.65M	53.93M	59.37M	44.43M	55.96M	60.51M	31.24M	30.88M	38.35M	40.16M	34.98M
Inventory	169.07M	178.30M	172.25M	195.03M	184.85M	140.19M	122.25M	115.01M	104.57M	94.11M	90.19M	84.48M	79.23M	71.05M	69.38M	61.43M	55.49M	59.89M	54.75M	54.20M	56.05M	78.04M	64.95M	49.61M	62.80M	78.03M	64.09M	60.22M	51.83M	52.98M	57.45M
Other Current Assets	42.33M	32.54M	38.46M	35.95M	27.91M	22.59M	20.51M	42.04M	33.31M	33.03M	30.50M	27.12M	18.13M	16.89M	10.88M	8.54M	7.84M	10.12M	9.29M	7.17M	10.91M	16.53M	20.81M	21.30M	16.95M	21.62M	39.93M	27.31M	41.47M	21.37M	17.66M
Total Current Assets	645.46M	665.51M	652.21M	644.13M	627.53M	555.20M	469.73M	430.32M	391.99M	356.51M	332.28M	314.73M	269.22M	251.13M	230.80M	204.56M	177.98M	169.51M	145.34M	144.30M	141.73M	186.53M	177.06M	144.33M	172.95M	188.56M	156.65M	144.67M	147.01M	132.40M	122.17M
Property, Plant & Equipment	329.64M	357.56M	333.94M	302.54M	278.89M	239.02M	200.21M	172.74M	158.81M	140.23M	131.31M	116.97M	111.13M	99.87M	96.60M	88.65M	87.14M	88.18M	68.05M	71.32M	85.45M	98.75M	95.73M	94.67M	100.64M	112.06M	103.77M	97.44M	90.53M	80.66M	74.00M
Goodwill	32.38M	40.55M	40.88M	39.43M	34.38M	22.96M	27.03M	28.69M	21.74M	13.65M	15.29M	5.82M	4.03M	3.27M	2.39M	1.02M	0.88M	0.92M	1.07M	0.49M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	78.12M	70.23M	67.87M	72.31M	58.34M	59.22M	45.81M	40.35M	27.65M	23.38M	19.38M	18.53M	17.75M	14.12M	14.58M	12.91M	9.98M	7.98M	5.74M	6.13M	8.14M	16.89M	13.82M	11.53M	15.44M	20.28M	16.66M	12.53M	11.26M	11.23M	35.27M
Long-Term Investments	37.75M	19.44M	28.17M	22.00M	14.33M	10.18M	20.07M	21.29M	24.73M	14.89M	14.24M	12.57M	8.92M	7.00M	3.28M	4.49M	2.47M	3.68M	1.40M	0.24M	0.13M	0.06M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.01M
Tax Assets	17.70M	17.32M	16.80M	15.43M	13.93M	10.74M	9.09M	8.08M	7.82M	8.58M	7.70M	7.15M	4.70M	4.80M	4.55M	4.40M	5.12M	3.48M	3.58M	2.61M	2.85M	2.55M	1.59M	2.32M	1.72M	0.30M	0.02M	0.14M	0.77M	0.09M	0.35M
Other Non-Current Assets	43.51M	70.95M	38.86M	48.74M	64.95M	56.57M	41.95M	29.41M	22.35M	20.52M	18.40M	17.54M	17.34M	13.91M	14.00M	15.93M	17.21M	16.09M	12.93M	11.77M	14.57M	13.29M	11.17M	12.19M	11.45M	17.25M	18.28M	16.36M	13.60M	13.89M	12.40M
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	539.10M	576.05M	526.52M	500.45M	464.82M	398.69M	344.16M	300.56M	263.10M	221.25M	206.32M	178.58M	163.86M	142.97M	135.41M	127.40M	122.81M	120.33M	92.77M	92.56M	111.16M	131.53M	122.31M	120.70M	129.26M	149.91M	138.72M	126.47M	116.16M	105.88M	122.03M
Total Assets	1,184.55M	1,241.56M	1,178.73M	1,144.59M	1,092.35M	953.89M	813.89M	730.88M	655.09M	577.77M	538.60M	493.31M	433.08M	394.10M	366.21M	331.96M	300.80M	289.84M	238.10M	236.86M	252.89M	318.06M	299.37M	265.03M	302.20M	338.47M	295.37M	271.13M	263.17M	238.28M	244.20M
Accounts Payable	166.25M	179.08M	185.61M	180.74M	203.52M	153.46M	134.48M	117.09M	109.13M	96.37M	94.02M	87.85M	78.06M	64.54M	67.46M	61.38M	54.18M	51.96M	44.35M	43.34M	39.37M	49.03M	59.29M	37.79M	43.05M	48.96M	40.48M	43.24M	37.52M	28.86M	33.39M
Short-Term Debt	174.66M	90.72M	96.99M	84.11M	74.22M	52.85M	47.64M	42.79M	41.04M	28.02M	19.99M	22.80M	18.14M	16.27M	12.95M	12.49M	12.50M	12.18M	13.12M	10.61M	10.34M	14.20M	16.04M	7.17M	11.84M	12.37M	11.28M	13.78M	10.81M	13.47M	12.39M
Tax Payables	0.01M	13.60M	9.59M	12.35M	14.09M	11.26M	9.18M	9.28M	9.69M	8.77M	6.66M	6.40M	5.08M	4.34M	2.85M	2.34M	1.89M	1.47M	1.23M	1.47M	1.30M	0.65M	0.35M	0.43M	0.21M	0.18M	0.39M	0.17M	1.53M	0.84M	0.54M
Deferred Revenue	17.38M	0.55M	6.13M	27.65M	71.87M	58.41M	38.99M	16.41M	36.60M	27.46M	26.45M	17.88M	15.94M	12.74M	10.99M	7.19M	8.12M	5.51M	5.63M	4.07M	3.66M	2.27M	2.89M	2.14M	9.87M	1.00M	0.00M	0.00M	0.13M	0.00M	0.00M
Other Current Liabilities	73.10M	99.53M	98.35M	75.70M	60.99M	49.72M	56.09M	69.81M	51.40M	41.27M	36.71M	37.01M	29.37M	31.27M	29.36M	26.88M	27.45M	21.88M	17.59M	12.99M	16.44M	19.30M	9.85M	9.42M	17.85M	37.66M	29.82M	25.97M	22.23M	22.14M	18.73M
Total Current Liabilities	431.39M	383.48M	396.67M	380.56M	424.69M	325.71M	286.37M	255.39M	247.86M	201.88M	183.83M	171.95M	146.60M	129.15M	123.61M	110.28M	104.15M	93.01M	81.91M	72.49M	71.11M	85.45M	88.41M	56.94M	82.82M	100.18M	81.95M	83.16M	72.23M	65.30M	65.04M
Long-Term Debt	102.09M	98.08M	116.75M	82.59M	76.00M	48.04M	66.65M	33.66M	30.19M	22.77M	23.80M	28.13M	19.53M	24.74M	17.71M	15.18M	15.65M	14.04M	14.16M	15.14M	11.97M	9.32M	18.51M	10.99M	13.46M	31.80M	20.14M	18.23M	23.61M	27.59M	25.80M
Capital Lease Obligations	14.47M	56.88M	45.93M	44.62M	38.62M	33.31M	10.02M	0.20M	0.15M	0.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	7.93M	11.15M	9.24M	8.38M	8.95M	6.08M	6.08M	7.67M	4.48M	3.72M	3.76M	3.56M	2.99M	2.03M	1.93M	1.97M	1.39M	1.02M	0.88M	1.10M	1.39M	1.67M	2.08M	1.20M	0.68M	1.30M	1.43M	1.45M	1.61M	2.24M	4.28M
Other Non-Current Liabilities	20.67M	16.59M	18.62M	20.91M	21.09M	22.10M	14.82M	19.68M	17.74M	17.88M	15.22M	14.28M	16.61M	11.33M	11.11M	11.18M	10.62M	9.10M	5.85M	5.27M	6.14M	5.42M	4.95M	4.32M	5.57M	3.70M	3.20M	3.26M	3.03M	2.91M	2.45M
Total Non-Current Liabilities	145.15M	182.70M	190.54M	156.50M	144.66M	109.52M	97.57M	61.21M	52.55M	44.46M	42.77M	45.97M	39.13M	38.09M	30.76M	28.33M	27.66M	24.16M	20.89M	21.52M	19.50M	16.42M	25.54M	16.51M	19.71M	36.79M	24.76M	22.93M	28.25M	32.75M	32.52M
Total Liabilities	576.54M	566.18M	587.21M	537.05M	569.35M	435.23M	383.94M	316.60M	300.41M	246.35M	226.60M	217.91M	185.72M	167.24M	154.37M	138.61M	131.80M	117.17M	102.80M	94.01M	90.61M	101.87M	113.95M	73.45M	102.53M	136.97M	106.72M	106.09M	100.48M	98.05M	97.57M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	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
Common Stock	63.55M	56.70M	56.89M	58.81M	58.57M	63.06M	64.51M	61.33M	58.59M	48.27M	45.30M	42.32M	41.05M	40.61M	38.01M	34.40M	32.28M	30.58M	19.87M	18.55M	23.68M	28.61M	25.51M	26.09M	27.42M	25.19M	23.17M	15.47M	9.99M	8.84M	8.25M
Retained Earnings	358.08M	374.97M	376.52M	366.49M	347.80M	306.31M	275.16M	254.64M	224.92M	186.94M	158.94M	144.39M	128.98M	102.96M	93.34M	85.57M	78.14M	79.88M	52.67M	49.77M	52.26M	53.97M	51.28M	51.31M	72.25M	87.72M	81.78M	79.11M	64.88M	72.89M	66.51M
Accumulated OCI	96.91M	18.31M	7.97M	22.98M	20.81M	12.95M	21.47M	8.83M	9.14M	13.91M	15.67M	1.60M	0.68M	-0.37M	-0.47M	-0.39M	-0.51M	-0.10M	0.00M	0.00M	-0.31M	-0.09M	-0.19M	-3.74M	-10.62M	-11.62M	-10.65M	-9.48M	-12.03M	-10.04M	-5.52M
Minority Interest	4.51M	5.20M	5.84M	6.38M	5.65M	6.24M	5.41M	5.61M	5.59M	3.38M	4.59M	3.62M	2.50M	2.21M	2.44M	1.57M	2.13M	1.77M	1.35M	1.11M	0.57M	2.57M	0.90M	0.90M	1.06M	1.29M	0.44M	0.28M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	518.54M	449.98M	441.38M	448.28M	427.18M	382.32M	361.15M	324.80M	292.66M	249.12M	219.91M	188.32M	170.74M	143.20M	130.88M	119.58M	109.90M	110.37M	72.54M	68.32M	75.63M	82.49M	76.60M	73.66M	89.04M	101.29M	94.30M	85.09M	62.84M	71.69M	69.24M
Total Equity	523.05M	455.18M	447.22M	454.66M	432.83M	388.56M	366.55M	330.41M	298.24M	252.50M	224.50M	191.94M	173.24M	145.41M	133.32M	121.15M	112.03M	112.13M	73.89M	69.42M	76.20M	85.06M	77.49M	74.56M	90.11M	102.58M	94.74M	85.37M	62.84M	71.69M	69.24M
Total Liabilities & Equity	1,099.59M	1,021.36M	1,034.43M	991.72M	1,002.18M	823.80M	750.49M	647.01M	598.65M	498.85M	451.10M	409.86M	358.96M	312.65M	287.69M	259.76M	243.84M	229.30M	176.69M	163.43M	166.81M	186.93M	191.45M	148.01M	192.64M	239.54M	201.46M	191.47M	163.31M	169.74M	166.81M
Tangible Assets	1,074.05M	1,130.78M	1,069.97M	1,032.85M	999.63M	871.71M	741.05M	661.84M	605.69M	540.74M	503.93M	468.96M	411.30M	376.71M	349.24M	318.03M	289.94M	280.94M	231.30M	230.25M	244.72M	301.17M	285.55M	253.50M	286.76M	318.19M	278.71M	258.61M	251.92M	227.04M	208.93M
Tangible Equity	412.55M	344.40M	338.46M	342.93M	340.11M	306.38M	293.71M	261.37M	248.85M	215.47M	189.82M	167.59M	151.46M	128.02M	116.35M	107.22M	101.18M	103.23M	67.08M	62.81M	68.04M	68.17M	63.67M	63.03M	74.66M	82.30M	78.09M	72.85M	51.58M	60.45M	33.97M
Tangible Book Value	412.55M	344.40M	338.46M	342.93M	340.11M	306.38M	293.71M	261.37M	248.85M	215.47M	189.82M	167.59M	151.46M	128.02M	116.35M	107.22M	101.18M	103.23M	67.08M	62.81M	68.04M	68.17M	63.67M	63.03M	74.66M	82.30M	78.09M	72.85M	51.58M	60.45M	33.97M
Total Investments	99.68M	42.46M	48.40M	43.56M	29.25M	32.51M	33.54M	37.73M	39.15M	27.52M	23.04M	20.90M	14.64M	10.01M	7.46M	7.14M	7.02M	6.69M	4.65M	6.54M	7.63M	6.59M	3.27M	4.31M	3.18M	2.45M	2.04M	0.96M	0.00M	0.00M	0.09M
Net Debt	89.05M	-4.40M	-3.30M	-25.51M	-59.31M	-77.88M	-11.34M	-47.22M	-55.11M	-55.34M	-46.50M	-35.52M	-41.15M	-34.09M	-40.07M	-34.00M	-17.95M	-7.58M	0.90M	-1.94M	-7.34M	-9.79M	4.88M	-6.74M	-10.28M	21.37M	10.83M	9.34M	19.41M	23.24M	26.57M

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	205.16M	229.15M	205.45M	226.57M	220.32M	192.40M	180.06M	160.76M	167.36M	155.19M	164.32M	149.99M	122.16M	119.92M	104.67M	100.05M	83.76M	71.60M	60.51M	71.42M	81.52M	95.02M	86.43M	72.24M	88.68M	95.19M	81.48M	79.83M	79.67M	80.74M	48.16M
Total Capital	1,082.66M	931.13M	905.27M	829.66M	786.39M	666.33M	596.57M	541.74M	492.27M	405.62M	367.68M	334.36M	289.58M	264.57M	251.89M	231.79M	191.86M	203.86M	165.01M	174.01M	205.63M	231.09M	215.54M	209.36M	226.27M	262.37M	233.34M	232.59M	212.05M	201.43M	207.21M
Capital Employed	986.45M	979.40M	914.49M	867.75M	759.03M	667.33M	598.55M	555.30M	491.97M	428.58M	417.91M	369.72M	332.93M	298.00M	288.72M	260.25M	234.09M	233.85M	181.26M	201.26M	230.08M	298.54M	271.60M	260.74M	275.53M	300.28M	227.20M	220.08M	215.18M	212.78M	200.54M
Invested Capital	894.96M	737.93M	688.24M	637.45M	576.86M	487.55M	470.95M	418.07M	365.93M	299.49M	277.40M	247.90M	210.77M	189.48M	181.16M	170.12M	145.76M	170.05M	138.63M	146.32M	175.97M	197.78M	185.87M	184.47M	190.69M	239.57M	212.76M	209.92M	197.04M	183.60M	195.59M

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	19.61M	49.19M	46.89M	44.01M	37.76M	34.91M	29.60M	22.99M	18.92M	17.51M	16.53M	15.92M	15.08M	13.45M	12.63M	12.27M	12.51M	12.91M	10.06M	10.55M	11.95M	13.35M	12.36M	15.97M	17.26M	16.17M	11.91M	12.69M	14.34M	14.46M	12.82M
Deferred Income Tax	0.00M	0.00M	-0.72M	-2.79M	-3.17M	-1.89M	-1.04M	-0.17M	-0.30M	-0.17M	-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	0.04M	-0.20M	0.04M	0.10M	0.14M	-0.33M	0.14M	0.08M
Stock-Based Compensation	0.49M	0.71M	1.50M	1.52M	1.53M	1.23M	1.12M	1.19M	0.89M	0.78M	0.47M	0.51M	0.25M	0.28M	0.10M	0.04M	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
Change in Working Capital	-6.79M	-3.87M	5.72M	-30.12M	-30.57M	6.96M	-0.98M	-16.61M	-7.56M	7.85M	-2.24M	-7.23M	-4.17M	-2.62M	-7.76M	-3.37M	7.69M	-0.33M	-3.42M	-1.70M	-2.58M	-2.84M	-4.88M	1.52M	3.62M	-3.81M	-5.52M	-6.07M	2.51M	-2.54M	-0.89M
Accounts Receivable	-5.32M	-9.56M	-12.98M	0.02M	-23.33M	-21.37M	-8.61M	-13.79M	-10.42M	-5.95M	-2.27M	-9.22M	-5.43M	-1.43M	0.00M	0.00M	0.00M	0.00M	0.00M	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	5.73M	0.87M	11.74M	-9.82M	-38.81M	-11.78M	-7.68M	-7.91M	-12.48M	-5.78M	-2.64M	-5.91M	-5.26M	-3.27M	-5.65M	-5.36M	4.64M	2.30M	-3.42M	-2.80M	-2.08M	-4.25M	-4.60M	1.47M	4.12M	-3.54M	-2.32M	-2.86M	0.36M	0.49M	-3.30M
Accounts Payable	0.87M	5.05M	13.50M	-16.84M	25.64M	37.82M	8.42M	8.96M	11.28M	15.13M	3.99M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-3.11M	-0.75M	-7.24M	-3.37M	-1.88M	1.56M	-0.18M	-6.91M	1.90M	7.74M	2.43M	-0.53M	1.77M	-1.51M	-2.42M	2.01M	3.07M	-1.45M	0.41M	1.44M	-1.06M	2.49M	0.80M	-1.70M	0.11M	-0.13M	-1.16M	-1.26M	3.11M	-1.08M	4.05M
Other Non-Cash Items	19.74M	10.82M	12.30M	10.45M	10.95M	10.04M	4.21M	4.25M	0.39M	0.70M	-1.64M	-1.43M	-0.53M	-0.14M	-1.64M	0.57M	1.95M	1.08M	0.81M	1.09M	0.57M	1.25M	1.43M	2.42M	4.42M	-1.50M	-0.13M	-0.41M	0.60M	-1.65M	-2.22M
Net Cash from Operating Activities	87.98M	136.25M	133.87M	88.61M	100.20M	133.35M	95.77M	65.75M	71.93M	80.38M	55.30M	41.88M	41.34M	36.95M	26.26M	29.85M	34.29M	21.59M	22.06M	22.35M	21.77M	29.08M	24.83M	33.13M	37.73M	37.72M	28.65M	35.69M	32.94M	28.40M	32.44M
Capital Expenditures (PPE)	-39.97M	-46.17M	-54.78M	-51.81M	-44.91M	-36.58M	-37.53M	-36.15M	-32.79M	-23.55M	-27.46M	-22.99M	-20.53M	-19.78M	-19.20M	-13.53M	-11.66M	-14.58M	-13.60M	-11.37M	-13.35M	-15.71M	-14.73M	-17.10M	-19.22M	-18.99M	-20.41M	-25.44M	-19.88M	-19.71M	-18.45M
Acquisitions (Net)	0.10M	-0.51M	-0.09M	-0.91M	-0.70M	0.96M	-0.71M	-5.27M	-0.95M	-0.60M	-0.98M	-0.21M	-0.13M	-0.20M	0.03M	0.10M	-0.14M	0.09M	-0.15M	0.02M	0.03M	-0.03M	-0.37M	-0.16M	-0.17M	-0.22M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-26.19M	-35.61M	-45.31M	-68.54M	-67.15M	-39.00M	-58.64M	-37.97M	-48.12M	-26.74M	-25.63M	-7.68M	-7.47M	-2.55M	-3.43M	-2.68M	-2.33M	-1.82M	-2.73M	-0.50M	-1.73M	-0.84M	-0.43M	-1.52M	-5.99M	-0.83M	-0.51M	-0.36M	-0.33M	-0.39M	0.00M
Sales / Maturities of Investments	23.65M	40.67M	48.53M	36.49M	56.17M	39.45M	44.10M	35.89M	28.32M	17.69M	20.33M	6.31M	5.10M	2.46M	3.10M	3.41M	2.17M	1.71M	1.57M	1.48M	1.33M	0.35M	0.30M	0.31M	0.96M	0.17M	0.36M	0.60M	0.14M	0.79M	0.00M
Other Investing Activities	0.07M	0.28M	1.80M	5.85M	1.71M	0.30M	-0.80M	0.47M	1.03M	1.24M	1.08M	1.70M	0.77M	0.35M	0.72M	1.49M	0.84M	1.35M	0.72M	0.89M	0.22M	1.08M	1.01M	0.86M	3.29M	-1.77M	-0.81M	1.44M	1.05M	-0.94M	-0.48M
Net Cash from Investing Activities	-55.54M	-66.42M	-68.60M	-71.12M	-52.74M	-39.90M	-42.13M	-45.41M	-50.42M	-36.54M	-36.18M	-27.15M	-27.03M	-22.74M	-21.36M	-14.15M	-11.34M	-12.55M	-15.00M	-12.40M	-14.55M	-17.30M	-20.63M	-15.79M	-29.89M	-26.20M	-24.57M	-21.86M	-27.57M	-27.81M	-27.59M
Net Debt Issuance	7.81M	-1.85M	8.79M	18.44M	11.78M	1.26M	-0.93M	16.95M	10.14M	-0.94M	-1.89M	2.86M	-0.50M	-0.28M	1.47M	-1.15M	-5.45M	3.34M	-0.96M	-0.18M	-2.27M	0.44M	2.61M	-5.73M	-1.96M	4.95M	0.89M	-0.43M	0.61M	-1.52M	1.79M
Long-Term Debt Issuance	-0.64M	0.88M	18.32M	10.85M	9.95M	1.08M	-1.79M	13.86M	7.00M	-0.34M	-1.78M	3.53M	0.39M	-0.13M	2.14M	-1.00M	-5.05M	3.53M	-0.91M	-0.62M	-0.59M	-0.11M	2.63M	-5.72M	-1.96M	4.96M	0.53M	-0.42M	0.63M	-1.51M	1.79M
Short-Term Debt Issuance	0.12M	0.00M	0.00M	-0.28M	-0.29M	-0.11M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.04M	0.00M	0.00M	0.00M	-0.07M	-0.04M	-0.01M	-0.20M	0.00M	-0.39M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-0.39M	-4.43M	-1.34M	-4.59M	-2.62M	-1.86M	-1.09M	-0.56M	-0.15M	-0.38M	-0.01M	0.00M	0.00M	-0.01M	-0.07M	-0.02M	-0.03M	-0.28M	0.05M	0.03M	0.04M	-0.03M	0.05M	0.14M	-0.46M	-2.24M	-2.66M	-0.14M	0.07M	-0.88M	-0.25M
Common Stock Issuance	0.00M	0.00M	0.00M	0.09M	0.27M	0.32M	0.34M	0.05M	0.14M	0.08M	0.22M	0.49M	0.04M	0.09M	0.06M	0.17M	0.02M	0.04M	0.93M	0.37M	0.74M	0.68M	0.42M	0.48M	0.16M	0.25M	0.39M	1.53M	1.99M	1.33M	0.24M
Common Stock Repurchased	-0.39M	-4.61M	-3.88M	-6.03M	-3.82M	-2.05M	-1.70M	-1.96M	-0.40M	-0.46M	-0.28M	0.00M	-0.01M	-0.01M	-0.10M	-0.02M	-0.04M	-0.30M	-0.07M	-0.01M	-0.22M	-0.10M	-0.02M	-0.24M	-0.64M	-3.13M	-4.51M	-0.70M	-0.79M	-2.06M	-1.15M
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	-14.16M	-35.04M	-29.22M	-26.20M	-24.88M	-16.39M	-20.79M	-23.79M	-18.70M	-14.54M	-12.62M	-10.46M	-9.29M	-7.66M	-7.17M	-5.01M	-4.75M	-6.72M	-5.11M	-4.55M	-5.38M	-5.67M	-5.19M	-7.22M	-5.85M	-5.68M	-5.37M	-6.37M	-4.37M	-4.74M	-5.95M
Common Dividends Paid	-14.89M	-35.04M	-30.24M	-28.47M	-25.30M	-18.32M	-24.36M	-23.42M	-18.50M	-14.31M	-12.39M	-10.26M	-9.20M	-6.96M	-6.33M	-4.93M	-4.53M	-6.74M	-4.88M	-4.59M	-5.25M	-4.92M	-7.28M	-6.79M	-5.85M	-5.68M	-5.37M	-6.37M	-4.37M	-4.74M	-5.95M
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	-16.17M	-10.90M	-11.36M	-5.88M	-5.76M	-3.04M	-5.32M	-2.23M	4.51M	-0.09M	0.52M	0.87M	0.25M	-0.19M	0.29M	-0.19M	-0.51M	0.03M	0.52M	0.30M	0.15M	0.01M	-0.64M	-0.67M	0.09M	1.15M	-0.01M	0.00M	-0.31M	-0.17M	-0.51M
Net Cash from Financing Activities	-45.37M	-50.47M	-45.83M	-23.96M	-21.98M	-36.20M	-41.26M	-20.19M	-4.32M	-20.39M	-19.07M	-7.54M	-10.66M	-9.87M	-7.44M	-8.35M	-13.86M	-3.70M	-8.62M	-3.72M	-7.94M	-4.14M	-3.57M	-14.63M	-12.18M	-1.74M	-6.67M	-6.18M	-6.11M	-6.88M	-4.67M
Effect of FX on Cash	1.27M	0.01M	0.89M	1.87M	-0.67M	-1.05M	0.12M	0.14M	-0.61M	0.31M	0.55M	0.11M	0.01M	-0.07M	-0.11M	-0.18M	-0.12M	-0.02M	0.02M	0.02M	-0.01M	0.00M	0.00M	-0.11M	-0.04M	-0.07M	-0.05M	-0.01M	-0.02M	-0.01M	0.11M
Net Change in Cash	-0.07M	-7.66M	12.66M	-2.53M	17.61M	39.49M	7.31M	3.33M	10.92M	15.31M	1.89M	10.91M	4.42M	4.71M	-0.10M	10.45M	9.71M	0.07M	-0.64M	3.11M	-2.23M	3.15M	1.73M	1.74M	10.98M	0.70M	-4.13M	4.37M	3.33M	0.13M	2.93M
Cash at Beginning of Period	143.22M	190.73M	176.30M	191.34M	169.66M	121.88M	108.32M	112.62M	96.06M	83.70M	75.27M	74.62M	69.88M	68.09M	60.90M	41.87M	33.58M	30.92M	21.89M	20.34M	23.46M	22.50M	23.30M	31.54M	21.96M	19.52M	23.98M	15.46M	8.18M	8.64M	13.72M
Cash at End of Period	200.76M	180.67M	190.98M	174.39M	192.94M	168.24M	119.79M	113.66M	114.03M	95.07M	87.15M	75.17M	75.43M	72.83M	68.82M	62.22M	42.84M	30.97M	23.77M	23.42M	28.84M	29.40M	24.43M	30.03M	38.08M	23.10M	19.69M	22.70M	10.06M	8.91M	9.44M
Operating Cash Flow	88.53M	136.25M	133.86M	88.40M	100.13M	133.35M	95.77M	65.74M	71.93M	80.38M	55.28M	41.88M	41.34M	37.21M	26.26M	29.85M	34.29M	21.59M	22.06M	22.35M	21.77M	28.84M	24.83M	33.13M	37.73M	37.72M	28.65M	35.69M	32.94M	28.40M	32.44M
Capital Expenditure	-40.91M	-47.13M	-56.72M	-51.81M	-44.89M	-36.66M	-37.48M	-36.20M	-32.76M	-23.20M	-26.54M	-22.97M	-20.51M	-19.75M	-19.16M	-13.51M	-11.63M	-14.31M	-13.58M	-11.35M	-13.35M	-15.71M	-14.73M	-17.10M	-19.23M	-18.99M	-20.41M	-25.44M	-19.88M	-19.71M	-18.45M
Free Cash Flow	73.10M	74.37M	72.88M	31.41M	36.79M	91.89M	56.03M	29.35M	39.63M	51.91M	29.91M	21.17M	21.07M	18.01M	6.14M	15.67M	21.45M	6.01M	7.56M	8.39M	7.07M	14.92M	10.82M	15.13M	16.54M	12.98M	7.83M	18.27M	12.82M	12.60M	5.50M

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	144.26M	148.43M	149.51M	130.92M	132.80M	119.54M	112.50M	93.00M	86.94M	76.93M	64.74M	60.43M	54.98M	46.67M	46.02M	40.58M	31.22M	31.63M	31.94M	34.70M	32.24M	35.60M	41.71M	38.05M	36.92M	55.84M	51.46M	56.50M	51.50M	47.48M	45.67M
(-) Tax Adjustment	33.97M	32.45M	26.92M	27.14M	25.36M	25.62M	22.75M	22.43M	21.95M	18.61M	16.09M	14.64M	13.39M	10.67M	10.10M	9.60M	7.86M	9.06M	7.67M	9.47M	10.48M	10.62M	10.41M	10.83M	15.29M	15.71M	15.25M	18.89M	15.95M	15.56M	14.98M
(-) Change In Working Capital	-6.79M	-3.87M	5.72M	-30.12M	-30.57M	6.96M	-0.98M	-16.61M	-7.56M	7.85M	-2.24M	-7.23M	-4.17M	-2.62M	-7.76M	-3.37M	7.69M	-0.33M	-3.42M	-1.70M	-2.58M	-2.84M	-4.88M	1.52M	3.62M	-3.81M	-5.52M	-6.07M	2.51M	-2.54M	-0.89M
(-) Capital Expenditure	40.91M	47.13M	56.72M	51.81M	44.89M	36.66M	37.48M	36.20M	32.76M	23.20M	26.54M	22.97M	20.51M	19.75M	19.16M	13.51M	11.63M	14.31M	13.58M	11.35M	13.35M	15.71M	14.73M	17.10M	19.23M	18.99M	20.41M	25.44M	19.88M	19.71M	18.45M
Unlevered Free Cash Flow	76.17M	72.73M	60.15M	82.08M	93.12M	50.30M	53.25M	50.98M	39.78M	27.28M	24.35M	30.05M	25.24M	18.87M	24.51M	20.85M	4.04M	8.60M	14.11M	15.57M	10.98M	12.12M	21.45M	8.60M	-1.22M	24.95M	21.32M	18.24M	13.16M	14.75M	13.13M
(-) Net Interest Income After Taxes	-7.07M	-8.29M	-8.85M	-5.31M	-4.29M	-5.23M	-4.47M	-2.94M	-1.11M	-1.16M	-0.84M	-0.97M	-0.73M	-0.81M	-1.20M	-1.52M	-1.87M	-1.48M	-1.56M	-0.87M	-0.82M	-0.81M	-0.48M	0.10M	-0.18M	-0.31M	-0.17M	-0.11M	-0.84M	-0.40M	-0.71M
Net Debt Issuance	7.81M	-1.85M	8.79M	18.44M	11.78M	1.26M	-0.93M	16.95M	10.14M	-0.94M	-1.89M	2.86M	-0.50M	-0.28M	1.47M	-1.15M	-5.45M	3.34M	-0.96M	-0.18M	-2.27M	0.44M	2.61M	-5.73M	-1.96M	4.95M	0.89M	-0.43M	0.61M	-1.52M	1.79M
Levered Free Cash Flow	91.05M	79.16M	77.80M	105.83M	109.20M	56.78M	56.78M	70.87M	51.03M	27.50M	23.30M	33.87M	25.48M	19.41M	27.18M	21.22M	0.46M	13.42M	14.70M	16.26M	9.53M	13.37M	24.55M	2.78M	-3.01M	30.21M	22.38M	17.92M	14.61M	13.62M	15.63M