Other Precious Metals

Category: Industry Averages Base Ticker: ALNU.ME

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	3.79	0.66	0.65	0.81	1.19	1.12	0.78	0.71	0.84	0.96	0.88	1.01	1.21	2.28	2.65	2.40	1.87	2.72	4.27	3.43	2.21	2.06	2.34	2.61	1.40	0.95	0.56	0.64	1.88	3.56	2.97
Market Capitalization	514.92M	88.39M	101.67M	134.38M	163.63M	108.61M	70.92M	98.88M	99.43M	83.60M	59.82M	62.34M	92.61M	74.98M	64.75M	63.21M	48.07M	67.27M	61.72M	66.01M	43.74M	33.03M	28.54M	29.59M	34.57M	42.63M	37.01M	25.81M	47.72M	45.38M	12.24M
(-) Cash & Equivalents	51.45M	11.15M	9.47M	11.06M	11.89M	6.20M	3.57M	3.76M	4.60M	5.05M	4.79M	3.72M	5.74M	5.06M	6.43M	4.04M	3.02M	2.65M	3.92M	3.11M	2.98M	1.11M	1.76M	1.07M	1.48M	1.00M	0.42M	0.51M	2.11M	1.42M	0.36M
(+) Total Debt	83.98M	10.88M	11.57M	14.08M	12.14M	10.67M	8.88M	5.97M	3.48M	2.65M	3.15M	1.80M	1.83M	0.76M	0.15M	0.09M	0.15M	0.17M	0.37M	0.34M	0.11M	0.10M	0.04M	0.00M	0.07M	0.33M	0.89M	0.78M	0.44M	0.24M	0.47M
Enterprise Value	540.75M	87.59M	100.08M	136.83M	162.96M	115.60M	84.55M	109.11M	97.23M	77.72M	56.69M	59.69M	90.08M	68.39M	63.20M	60.56M	46.46M	66.66M	58.23M	64.27M	37.11M	32.58M	23.81M	28.92M	31.71M	37.42M	39.50M	25.48M	49.68M	42.07M	12.19M

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	75.840M	52.479M	41.768M	42.923M	43.860M	26.771M	23.132M	23.445M	12.524M	15.415M	18.145M	18.339M	19.190M	6.853M	2.252M	1.725M	1.653M	2.179M	2.306M	1.585M	1.753M	0.443M	0.318M	0.215M	0.231M	3.184M	0.021M	0.027M	0.098M	0.089M	0.534M
Cost of Revenue	51.896M	32.698M	27.267M	28.991M	28.951M	24.224M	20.764M	18.243M	10.452M	6.827M	12.508M	11.281M	10.823M	4.756M	2.497M	2.211M	1.740M	1.649M	1.878M	1.516M	1.134M	0.244M	0.071M	0.133M	0.109M	1.032M	0.018M	0.016M	0.002M	0.000M	0.000M
Gross Profit	23.944M	19.781M	14.500M	13.932M	14.909M	2.547M	2.369M	5.201M	2.072M	8.587M	5.637M	7.058M	8.366M	2.097M	-0.245M	-0.487M	-0.087M	0.530M	0.428M	0.068M	0.618M	0.198M	0.247M	0.082M	0.121M	2.151M	0.003M	0.011M	0.096M	0.089M	0.534M
Gross Margin	31.57%	37.69%	34.72%	32.46%	33.99%	9.51%	10.24%	22.19%	16.55%	55.71%	31.07%	38.49%	43.60%	30.60%	-10.88%	-28.22%	-5.27%	24.31%	18.57%	4.32%	35.28%	44.84%	77.70%	38.17%	52.55%	67.57%	13.92%	40.22%	97.86%	100.00%	100.00%
R&D Expenses	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	7.550M	4.385M	4.087M	4.055M	3.510M	2.328M	2.343M	2.102M	1.789M	1.481M	1.464M	1.559M	1.642M	1.537M	1.805M	1.241M	0.905M	1.345M	1.427M	1.240M	1.220M	0.652M	0.449M	0.424M	0.522M	0.512M	0.474M	0.368M	0.487M	0.339M	0.138M
Operating Expenses	7.550M	4.385M	4.087M	4.055M	3.510M	2.328M	2.343M	2.102M	1.789M	1.481M	1.464M	1.559M	1.642M	1.537M	1.805M	1.241M	0.905M	1.345M	1.427M	1.240M	1.220M	0.652M	0.449M	0.424M	0.522M	0.512M	0.474M	0.368M	0.487M	0.339M	0.138M
Operating Income	16.394M	15.396M	10.414M	9.877M	11.399M	0.219M	0.026M	3.099M	0.283M	7.106M	4.173M	5.499M	6.724M	0.560M	-2.050M	-1.728M	-0.993M	-0.816M	-0.999M	-1.172M	-0.602M	-0.454M	-0.202M	-0.342M	-0.401M	1.639M	-0.472M	-0.358M	-0.391M	-0.250M	0.395M
Operating Margin	21.62%	29.34%	24.93%	23.01%	25.99%	0.82%	0.11%	13.22%	2.26%	46.10%	23.00%	29.99%	35.04%	8.17%	-91.03%	-100.20%	-60.05%	-37.44%	-43.32%	-73.95%	-34.34%	-102.45%	-63.40%	-159.49%	-173.93%	51.49%	-2,286.13%	-1,336.05%	-397.19%	-282.48%	74.08%
Interest Income	0.316M	0.242M	0.373M	0.228M	0.073M	0.096M	0.107M	0.055M	0.071M	0.040M	0.054M	0.056M	0.061M	0.072M	0.076M	0.035M	0.034M	0.088M	0.039M	0.034M	0.035M	0.019M	0.014M	0.007M	0.048M	0.023M	0.000M	0.000M	0.005M	0.002M	0.001M
Interest Expense	1.330M	1.079M	1.006M	1.198M	1.059M	1.039M	0.755M	0.382M	0.232M	0.204M	0.228M	0.151M	0.126M	0.136M	0.108M	0.057M	0.065M	0.062M	0.022M	0.049M	0.038M	0.014M	0.002M	0.000M	0.049M	0.022M	0.020M	0.018M	0.000M	0.003M	0.025M
Net Interest Income	-1.014M	-0.837M	-0.633M	-0.970M	-0.985M	-0.943M	-0.648M	-0.327M	-0.162M	-0.164M	-0.174M	-0.095M	-0.065M	-0.064M	-0.031M	-0.022M	-0.030M	0.026M	0.017M	-0.016M	-0.003M	0.005M	0.012M	0.007M	-0.001M	0.000M	-0.020M	-0.018M	0.005M	-0.001M	-0.023M
Other Income / Expense	-4.099M	-14.096M	-9.179M	-4.142M	-3.575M	3.686M	-0.212M	-3.808M	-0.906M	-7.673M	-5.334M	-6.570M	-7.216M	-1.992M	0.942M	1.036M	0.183M	-0.678M	0.294M	0.624M	0.261M	-0.112M	-0.204M	-0.116M	0.180M	-2.106M	-0.116M	-0.457M	-0.562M	-0.415M	-1.146M
Pre-Tax Income	11.281M	0.463M	0.602M	4.766M	6.839M	2.962M	-0.833M	-1.036M	-0.785M	-0.731M	-1.334M	-1.166M	-0.557M	-1.497M	-1.139M	-0.714M	-0.841M	-1.468M	-0.688M	-0.564M	-0.344M	-0.560M	-0.394M	-0.451M	-0.223M	-0.467M	-0.607M	-0.832M	-0.948M	-0.665M	-0.774M
Pre-Tax Margin	14.88%	0.88%	1.44%	11.10%	15.59%	11.07%	-3.60%	-4.42%	-6.27%	-4.74%	-7.35%	-6.36%	-2.90%	-21.84%	-50.60%	-41.39%	-50.85%	-67.35%	-29.83%	-35.57%	-19.62%	-126.56%	-123.86%	-210.29%	-96.49%	-14.66%	-2,942.33%	-3,108.95%	-963.00%	-751.36%	-145.15%
Income Tax Expense	3.169M	1.143M	0.562M	1.091M	1.741M	0.314M	0.425M	0.220M	0.206M	0.255M	0.103M	0.278M	0.385M	0.115M	0.064M	0.127M	0.065M	-0.006M	0.185M	0.056M	0.034M	0.043M	0.023M	0.009M	0.087M	0.054M	-0.079M	0.038M	0.015M	-0.022M	-0.088M
Tax Rate	28.09%	35.00%	35.00%	22.90%	25.46%	10.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.96%	0.00%	0.00%	3.33%	11.43%
Net Income	8.112M	-0.680M	0.039M	3.674M	5.098M	2.649M	-1.258M	-1.255M	-0.991M	-0.985M	-1.437M	-1.444M	-0.942M	-1.612M	-1.203M	-0.841M	-0.905M	-1.462M	-0.873M	-0.620M	-0.377M	-0.604M	-0.417M	-0.460M	-0.309M	-0.521M	-0.528M	-0.870M	-0.963M	-0.643M	-0.686M
Net Margin	10.70%	-1.30%	0.09%	8.56%	11.62%	9.89%	-5.44%	-5.35%	-7.91%	-6.39%	-7.92%	-7.87%	-4.91%	-23.53%	-53.42%	-48.74%	-54.77%	-67.09%	-37.84%	-39.13%	-21.54%	-136.34%	-130.97%	-214.38%	-134.00%	-16.35%	-2,560.96%	-3,250.71%	-978.24%	-726.34%	-128.57%
EBIT	16.394M	15.396M	10.414M	9.877M	11.399M	0.219M	0.026M	3.099M	0.283M	7.106M	4.173M	5.499M	6.724M	0.560M	-2.050M	-1.728M	-0.993M	-0.816M	-0.999M	-1.172M	-0.602M	-0.454M	-0.202M	-0.342M	-0.401M	1.639M	-0.472M	-0.358M	-0.391M	-0.250M	0.395M
Depreciation & Amortization	8.171M	6.167M	5.055M	4.419M	4.862M	4.174M	4.217M	2.891M	1.524M	0.778M	0.682M	0.540M	0.579M	0.280M	0.108M	0.116M	0.206M	0.117M	0.121M	0.114M	0.085M	0.061M	0.013M	0.106M	0.032M	0.014M	0.762M	0.061M	0.020M	0.021M	0.021M
EBITDA	24.565M	21.563M	15.469M	14.296M	16.261M	4.394M	4.243M	5.990M	1.807M	7.884M	4.856M	6.039M	7.303M	0.840M	-1.941M	-1.612M	-0.786M	-0.699M	-0.878M	-1.058M	-0.517M	-0.393M	-0.189M	-0.236M	-0.369M	1.654M	0.291M	-0.297M	-0.371M	-0.229M	0.416M
EBITDA Margin	32.39%	41.09%	37.04%	33.31%	37.08%	16.41%	18.34%	25.55%	14.42%	51.15%	26.76%	32.93%	38.06%	12.25%	-86.22%	-93.46%	-47.57%	-32.09%	-38.08%	-66.78%	-29.51%	-88.68%	-59.27%	-110.06%	-160.20%	51.94%	1,409.50%	-1,108.19%	-376.93%	-258.29%	78.04%
NOPAT	11.789M	10.008M	6.769M	7.615M	8.497M	0.196M	0.026M	3.099M	0.283M	7.106M	4.173M	5.499M	6.724M	0.560M	-2.050M	-1.728M	-0.993M	-0.813M	-0.999M	-1.172M	-0.602M	-0.454M	-0.202M	-0.342M	-0.401M	1.639M	-0.410M	-0.358M	-0.391M	-0.242M	0.350M
NOPAT Margin	15.54%	19.07%	16.21%	17.74%	19.37%	0.73%	0.11%	13.22%	2.26%	46.10%	23.00%	29.99%	35.04%	8.17%	-91.03%	-100.20%	-60.05%	-37.29%	-43.32%	-73.95%	-34.34%	-102.45%	-63.40%	-159.49%	-173.93%	51.49%	-1,989.81%	-1,336.05%	-397.19%	-273.07%	65.61%
Owner's Earnings	16.283M	5.487M	5.094M	8.093M	9.960M	6.823M	2.959M	1.636M	0.533M	-0.208M	-0.755M	-0.904M	-0.362M	-1.332M	-1.095M	-0.725M	-0.699M	-1.345M	-0.752M	-0.506M	-0.293M	-0.543M	-0.404M	-0.354M	-0.277M	-0.506M	0.234M	-0.809M	-0.943M	-0.622M	-0.665M
Owner's Earnings Margin	21.47%	10.46%	12.20%	18.86%	22.71%	25.49%	12.79%	6.98%	4.25%	-1.35%	-4.16%	-4.93%	-1.89%	-19.44%	-48.61%	-42.01%	-42.29%	-61.74%	-32.59%	-31.96%	-16.71%	-122.57%	-126.84%	-164.96%	-120.27%	-15.90%	1,134.67%	-3,022.84%	-957.99%	-702.15%	-124.60%
EPS	0.04	0.00	0.00	0.02	0.03	0.02	-0.01	-0.01	-0.01	-0.01	-0.01	-0.02	-0.01	-0.03	-0.02	-0.02	-0.02	-0.04	-0.02	-0.01	-0.01	-0.02	-0.02	-0.02	-0.01	-0.02	-0.02	-0.05	-0.01	-0.04	-0.02
EPS (Diluted)	0.04	0.00	0.00	0.02	0.03	0.02	-0.01	-0.01	-0.01	-0.01	-0.01	-0.02	-0.01	-0.03	-0.02	-0.02	-0.02	-0.04	-0.02	-0.01	-0.01	-0.02	-0.02	-0.02	-0.01	-0.02	-0.02	-0.05	-0.01	-0.04	-0.02
Shares (Diluted)	203,133,700	292,236,334	236,755,381	215,003,297	180,023,202	157,398,015	127,216,811	150,108,008	140,123,218	132,576,573	116,368,213	87,640,770	72,321,707	58,753,113	50,954,004	47,453,660	41,668,826	41,259,733	48,170,180	55,005,065	46,731,393	38,522,769	24,335,441	20,920,125	35,003,810	34,577,099	21,210,574	18,885,576	72,145,960	14,626,696	33,467,721

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	42.05M	11.31M	9.47M	11.06M	11.89M	6.20M	3.60M	3.81M	4.60M	5.10M	4.79M	3.72M	5.76M	5.11M	6.50M	4.13M	3.05M	2.99M	3.97M	3.86M	2.98M	1.11M	1.76M	1.16M	1.58M	1.36M	0.45M	0.54M	2.26M	1.64M	0.42M
Short-Term Investments	12.00M	1.67M	0.37M	0.26M	1.28M	1.94M	1.08M	0.82M	0.40M	0.12M	0.34M	2.44M	1.59M	2.43M	1.87M	0.70M	0.77M	0.22M	0.84M	1.10M	0.06M	0.29M	0.08M	1.24M	0.01M	0.07M	0.21M	0.00M	0.02M	0.03M	0.06M
Cash & Short-Term Investments	54.05M	12.98M	9.83M	11.32M	13.17M	8.14M	4.68M	4.63M	5.00M	5.22M	5.13M	6.16M	7.36M	7.54M	8.36M	4.83M	3.82M	3.21M	4.81M	4.96M	3.03M	1.40M	1.84M	2.40M	1.59M	1.42M	0.66M	0.54M	2.28M	1.67M	0.48M
Net Receivables	19.30M	3.37M	3.84M	3.21M	3.45M	2.76M	2.02M	1.21M	0.63M	0.48M	0.65M	0.57M	0.44M	0.30M	0.32M	0.32M	0.36M	0.36M	0.32M	0.41M	0.30M	0.27M	0.07M	0.05M	0.02M	0.23M	0.06M	0.09M	0.10M	0.16M	0.33M
Inventory	26.13M	8.40M	6.81M	7.46M	5.74M	4.96M	2.82M	2.73M	2.38M	2.00M	2.04M	1.77M	1.26M	0.73M	0.28M	0.21M	0.18M	0.31M	0.21M	0.34M	0.10M	0.06M	0.02M	0.08M	0.09M	0.06M	0.00M	0.01M	0.01M	0.00M	0.10M
Other Current Assets	4.35M	0.83M	1.33M	1.58M	0.61M	0.40M	0.87M	1.23M	0.79M	1.05M	0.99M	0.99M	0.76M	0.41M	0.04M	0.02M	0.01M	0.05M	0.19M	0.02M	0.02M	0.06M	0.05M	0.06M	0.04M	0.14M	0.02M	0.06M	0.10M	0.14M	0.25M
Total Current Assets	103.84M	25.58M	21.81M	23.58M	22.97M	16.27M	10.40M	9.81M	8.81M	8.75M	8.80M	9.49M	9.82M	8.98M	9.00M	5.38M	4.36M	3.93M	5.54M	5.74M	3.46M	1.79M	1.98M	2.57M	1.74M	1.86M	0.74M	0.70M	2.47M	1.97M	1.16M
Property, Plant & Equipment	206.73M	73.82M	62.26M	59.42M	55.50M	40.53M	21.47M	20.49M	20.24M	14.82M	20.30M	23.97M	21.15M	16.96M	12.17M	8.95M	5.63M	7.87M	11.14M	4.88M	7.14M	4.18M	2.42M	3.05M	2.75M	2.84M	5.08M	5.37M	8.89M	3.73M	2.71M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	0.51M	0.01M	0.01M	0.01M	0.01M	0.02M	0.01M	0.01M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.63M
Long-Term Investments	0.72M	0.39M	0.79M	0.94M	0.50M	0.36M	0.42M	0.32M	0.39M	0.21M	0.09M	0.02M	0.02M	0.02M	0.07M	0.01M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.33M	0.02M	0.01M	0.00M
Tax Assets	1.29M	0.00M	0.12M	0.35M	1.11M	0.36M	0.17M	0.11M	0.13M	0.07M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.05M
Other Non-Current Assets	9.36M	3.53M	3.88M	3.54M	3.33M	2.08M	0.76M	0.70M	0.59M	0.58M	0.67M	0.64M	0.46M	0.50M	0.65M	0.55M	0.28M	0.16M	0.37M	0.08M	0.12M	0.13M	0.23M	0.05M	0.28M	1.43M	0.55M	0.52M	0.89M	0.24M	1.42M
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	218.61M	77.75M	67.06M	64.26M	60.46M	43.34M	22.83M	21.64M	21.37M	15.69M	21.08M	24.64M	21.63M	17.48M	12.89M	9.51M	5.93M	8.05M	11.51M	4.95M	7.25M	4.31M	2.66M	3.09M	3.03M	4.27M	5.62M	6.22M	9.79M	4.00M	4.81M
Total Assets	322.45M	103.33M	88.87M	87.83M	83.42M	59.61M	33.23M	31.44M	30.17M	24.44M	29.88M	34.13M	31.45M	26.46M	21.89M	14.90M	10.29M	11.97M	17.05M	10.69M	10.71M	6.10M	4.64M	5.67M	4.77M	6.12M	6.36M	6.92M	12.27M	5.97M	5.97M
Accounts Payable	17.89M	5.32M	3.62M	5.78M	5.18M	4.40M	2.84M	1.93M	2.27M	0.90M	1.70M	1.14M	0.85M	0.97M	0.57M	0.56M	0.47M	0.59M	0.62M	0.55M	0.45M	0.20M	0.13M	0.13M	0.08M	0.16M	0.23M	0.28M	0.14M	0.30M	0.38M
Short-Term Debt	18.04M	2.44M	2.35M	2.61M	2.11M	2.29M	1.20M	0.86M	0.84M	0.79M	0.33M	0.61M	0.53M	0.12M	0.00M	0.00M	0.01M	0.02M	0.01M	0.07M	0.05M	0.00M	0.01M	0.00M	0.03M	0.01M	0.01M	0.01M	0.21M	0.00M	0.53M
Tax Payables	0.59M	0.49M	0.59M	0.43M	0.16M	0.11M	0.06M	0.06M	0.08M	0.02M	0.01M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	19.21M	2.12M	1.46M	2.65M	1.25M	0.77M	0.91M	0.67M	0.64M	0.52M	0.74M	0.97M	0.87M	0.44M	0.48M	0.28M	0.22M	0.20M	0.28M	0.14M	0.08M	0.05M	0.06M	0.04M	0.04M	0.06M	0.03M	0.03M	0.04M	0.03M	0.13M
Total Current Liabilities	55.73M	10.38M	8.03M	11.48M	8.71M	7.56M	5.01M	3.53M	3.83M	2.23M	2.77M	2.74M	2.25M	1.53M	1.05M	0.84M	0.70M	0.81M	0.91M	0.75M	0.58M	0.25M	0.20M	0.17M	0.16M	0.22M	0.27M	0.32M	0.39M	0.33M	1.04M
Long-Term Debt	29.45M	5.56M	5.62M	5.14M	4.67M	5.25M	3.69M	1.67M	0.62M	0.24M	1.20M	0.15M	0.10M	0.01M	0.01M	0.06M	0.03M	0.06M	0.02M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.29M	0.42M	0.17M	0.04M	0.00M	0.01M
Capital Lease Obligations	0.29M	0.33M	0.32M	0.41M	0.44M	0.35M	0.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	7.69M	0.95M	0.83M	0.98M	1.39M	0.80M	0.67M	0.54M	0.28M	0.34M	0.16M	0.13M	0.15M	0.13M	0.23M	0.34M	0.18M	0.24M	0.06M	0.04M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	14.44M	5.32M	5.21M	4.33M	3.52M	2.38M	0.87M	1.21M	0.72M	0.66M	0.72M	0.71M	0.57M	0.24M	0.24M	0.15M	0.23M	0.24M	0.29M	0.18M	0.10M	0.03M	0.03M	0.03M	0.00M	0.00M	0.00M	-0.01M	-0.01M	0.00M	0.00M
Total Non-Current Liabilities	51.88M	12.15M	11.97M	10.87M	10.02M	8.78M	5.40M	3.42M	1.62M	1.24M	2.08M	0.99M	0.82M	0.38M	0.48M	0.55M	0.44M	0.54M	0.37M	0.24M	0.11M	0.03M	0.03M	0.03M	0.00M	0.29M	0.42M	0.16M	0.03M	0.00M	0.01M
Total Liabilities	107.61M	22.53M	20.00M	22.35M	18.73M	16.34M	10.40M	6.94M	5.45M	3.47M	4.85M	3.73M	3.06M	1.91M	1.53M	1.38M	1.14M	1.35M	1.29M	1.00M	0.69M	0.28M	0.23M	0.20M	0.16M	0.52M	0.69M	0.49M	0.42M	0.34M	1.05M
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	150.41M	65.60M	68.37M	63.19M	55.02M	46.58M	34.09M	34.52M	31.79M	27.27M	25.07M	25.61M	21.42M	19.66M	6.42M	3.64M	3.07M	3.27M	2.94M	2.14M	2.44M	3.32M	1.99M	2.01M	3.03M	5.76M	6.39M	7.36M	7.49M	6.70M	9.41M
Retained Earnings	-3.79M	-20.69M	-14.86M	-15.13M	-12.84M	-12.48M	-13.09M	-13.11M	-11.72M	-11.93M	-10.21M	-9.34M	-8.73M	-8.74M	-7.25M	-6.57M	-6.11M	-5.73M	-3.92M	-4.16M	-5.77M	-5.58M	-2.77M	-2.95M	-4.19M	-4.92M	-6.37M	-4.99M	-6.07M	-6.01M	-8.99M
Accumulated OCI	6.37M	1.87M	1.37M	1.42M	1.24M	1.69M	1.06M	1.14M	1.27M	1.19M	1.02M	0.93M	0.67M	0.50M	0.13M	0.09M	0.05M	0.07M	0.13M	0.05M	0.09M	0.18M	0.03M	0.04M	0.00M	0.02M	0.02M	0.18M	0.42M	0.29M	0.00M
Minority Interest	0.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	152.98M	46.77M	54.87M	49.47M	43.42M	35.79M	22.05M	22.55M	21.34M	16.53M	15.88M	17.20M	13.35M	11.41M	-0.70M	-2.83M	-2.99M	-2.40M	-0.85M	-1.97M	-3.24M	-2.08M	-0.74M	-0.90M	-1.17M	0.86M	0.04M	2.56M	1.84M	0.98M	0.42M
Total Equity	153.48M	46.77M	54.87M	49.47M	43.42M	35.79M	22.05M	22.55M	21.34M	16.53M	15.88M	17.20M	13.36M	11.41M	-0.70M	-2.83M	-2.99M	-2.40M	-0.85M	-1.97M	-3.24M	-2.08M	-0.74M	-0.90M	-1.17M	0.86M	0.04M	2.56M	1.84M	0.98M	0.42M
Total Liabilities & Equity	261.09M	69.30M	74.87M	71.82M	62.15M	52.13M	32.46M	29.49M	26.79M	20.00M	20.73M	20.93M	16.42M	13.32M	0.84M	-1.45M	-1.85M	-1.05M	0.44M	-0.97M	-2.55M	-1.80M	-0.52M	-0.71M	-1.01M	1.37M	0.73M	3.04M	2.27M	1.32M	1.47M
Tangible Assets	321.94M	103.32M	88.86M	87.83M	83.41M	59.59M	33.22M	31.43M	30.16M	24.43M	29.88M	34.12M	31.45M	26.46M	21.89M	14.90M	10.29M	11.97M	17.05M	10.69M	10.71M	6.10M	4.64M	5.67M	4.77M	6.12M	6.36M	6.92M	12.27M	5.97M	5.34M
Tangible Equity	152.97M	46.77M	54.87M	49.47M	43.41M	35.77M	22.04M	22.54M	21.33M	16.52M	15.88M	17.20M	13.36M	11.41M	-0.70M	-2.83M	-2.99M	-2.40M	-0.85M	-1.97M	-3.24M	-2.08M	-0.74M	-0.90M	-1.17M	0.86M	0.04M	2.56M	1.84M	0.98M	-0.21M
Tangible Book Value	152.97M	46.77M	54.87M	49.47M	43.41M	35.77M	22.04M	22.54M	21.33M	16.52M	15.88M	17.20M	13.36M	11.41M	-0.70M	-2.83M	-2.99M	-2.40M	-0.85M	-1.97M	-3.24M	-2.08M	-0.74M	-0.90M	-1.17M	0.86M	0.04M	2.56M	1.84M	0.98M	-0.21M
Total Investments	3.91M	0.93M	1.97M	1.97M	2.14M	1.38M	0.96M	0.74M	0.68M	0.61M	0.40M	0.67M	0.59M	1.15M	0.66M	0.71M	0.49M	0.37M	0.32M	0.36M	0.08M	0.05M	0.03M	0.04M	0.05M	0.63M	0.06M	0.34M	0.04M	0.03M	0.09M
Net Debt	5.44M	-3.31M	-1.49M	-3.31M	-5.10M	1.34M	1.29M	-1.28M	-3.13M	-4.07M	-3.26M	-2.96M	-5.13M	-4.98M	-6.48M	-4.07M	-3.01M	-2.91M	-3.94M	-3.78M	-2.93M	-1.10M	-1.75M	-1.16M	-1.55M	-1.06M	-0.02M	-0.35M	-2.01M	-1.64M	0.13M

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	56.15M	18.61M	12.80M	11.95M	15.66M	9.21M	6.81M	7.73M	6.47M	10.10M	5.58M	10.33M	10.21M	13.44M	9.13M	5.27M	6.29M	3.62M	5.28M	5.53M	6.57M	3.41M	2.25M	4.48M	1.71M	2.91M	0.47M	1.26M	2.55M	1.65M	0.16M
Total Capital	324.42M	80.32M	92.94M	85.80M	79.69M	65.06M	50.21M	48.53M	39.70M	30.31M	35.62M	40.71M	34.81M	32.53M	32.18M	25.15M	15.81M	16.40M	15.10M	11.89M	9.43M	8.01M	6.65M	6.15M	5.33M	11.85M	8.77M	8.72M	9.66M	6.75M	4.43M
Capital Employed	408.78M	129.71M	112.40M	104.06M	91.24M	79.53M	59.87M	63.22M	59.53M	33.23M	45.09M	48.30M	46.71M	45.42M	42.50M	31.70M	22.41M	22.71M	19.02M	12.68M	15.44M	8.21M	6.54M	7.55M	7.44M	10.42M	9.34M	9.92M	13.05M	7.00M	4.14M
Invested Capital	282.37M	69.00M	83.48M	74.74M	67.80M	58.86M	46.61M	44.72M	35.10M	25.21M	30.83M	36.99M	29.05M	27.43M	25.68M	21.02M	12.76M	13.41M	11.13M	8.02M	6.45M	6.91M	4.89M	4.99M	3.75M	10.50M	8.33M	8.18M	7.40M	5.11M	4.02M

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	5.00M	3.12M	5.06M	3.86M	3.35M	2.84M	3.13M	2.12M	1.04M	0.99M	0.76M	1.29M	0.81M	0.20M	0.10M	0.10M	0.10M	0.08M	0.11M	0.11M	0.08M	0.06M	0.01M	0.01M	0.02M	0.01M	0.09M	0.02M	0.02M	0.00M	0.00M
Deferred Income Tax	-0.05M	0.00M	-0.05M	-0.10M	-0.01M	-0.02M	-0.02M	0.03M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.33M	0.19M	0.22M	0.43M	0.38M	0.19M	0.16M	0.17M	0.15M	0.10M	0.04M	0.06M	0.06M	0.11M	0.18M	0.04M	0.04M	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
Change in Working Capital	0.80M	-0.35M	-0.30M	-1.14M	-0.73M	-0.07M	-0.15M	-0.11M	-0.16M	0.07M	-0.32M	0.03M	-0.04M	-0.08M	-0.19M	-0.11M	0.01M	0.00M	-0.03M	0.01M	0.01M	-0.05M	0.00M	0.03M	-0.07M	-0.05M	-0.11M	0.01M	0.07M	0.01M	0.00M
Accounts Receivable	-0.04M	-0.11M	-0.11M	-0.11M	-0.25M	-0.02M	0.02M	-0.04M	-0.09M	0.03M	-0.04M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.05M	0.00M	-0.01M	-1.19M	-0.49M	-0.06M	-0.14M	-0.23M	-0.06M	0.00M	0.00M	0.00M	0.00M	-0.05M	0.00M	-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	0.00M
Accounts Payable	0.00M	-0.02M	0.08M	0.21M	0.10M	0.06M	0.03M	0.07M	0.04M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-0.04M	0.13M	-0.05M	-0.10M	-0.01M	-0.03M	0.05M	0.08M	-0.04M	0.00M	-0.03M	0.02M	0.01M	0.05M	-0.01M	0.00M	-0.03M	0.00M	0.01M	0.02M	-0.01M	0.00M	0.00M	0.01M	-0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	4.85M	1.83M	1.81M	0.93M	1.03M	1.08M	0.72M	0.63M	0.60M	0.44M	0.37M	0.36M	0.23M	0.28M	0.32M	0.22M	0.70M	0.84M	0.32M	0.46M	0.34M	0.25M	0.26M	0.20M	0.24M	0.04M	0.48M	0.49M	0.58M	-0.34M	-0.05M
Net Cash from Operating Activities	18.36M	9.00M	4.04M	8.12M	6.80M	4.12M	2.19M	1.13M	2.06M	0.46M	-0.40M	0.22M	-0.06M	-0.50M	-0.82M	-0.48M	-0.24M	-0.47M	-0.39M	-0.27M	-0.32M	-0.24M	-0.22M	-0.19M	-0.10M	-0.30M	-0.37M	-0.35M	-0.96M	-0.95M	-0.42M
Capital Expenditures (PPE)	-19.32M	-10.21M	-9.30M	-9.47M	-8.72M	-3.65M	-4.06M	-5.13M	-2.21M	-1.80M	-1.47M	-2.66M	-1.48M	-2.02M	-2.14M	-1.38M	-1.50M	-2.86M	-1.91M	-1.54M	-1.02M	-0.54M	-0.33M	-0.32M	-0.49M	-0.64M	-0.06M	-1.34M	-0.96M	-1.30M	-1.22M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	-0.01M	-0.03M	-0.04M	-0.01M	-0.01M	-0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.02M	-0.01M	-0.02M	-0.01M	-0.03M	-0.01M	-0.01M	-0.03M	-0.07M	-0.03M	-0.04M	-0.01M	-0.14M	-0.01M	-0.06M	-0.06M	-0.02M	-0.04M
Sales / Maturities of Investments	0.08M	0.01M	0.04M	0.03M	0.03M	0.01M	0.04M	0.02M	0.01M	0.01M	0.01M	0.00M	0.02M	0.02M	0.02M	0.01M	0.02M	0.01M	0.00M	0.05M	0.00M	0.04M	0.05M	0.00M	0.00M	0.00M	0.01M	0.07M	0.02M	0.00M	0.00M
Other Investing Activities	-0.25M	-0.03M	0.23M	0.17M	0.14M	0.05M	0.06M	0.07M	0.14M	0.09M	0.01M	0.04M	0.06M	0.03M	-0.09M	-0.06M	-0.01M	-0.04M	-0.22M	0.02M	-0.16M	-0.17M	-0.06M	0.00M	-0.08M	0.04M	-0.11M	-0.15M	-0.46M	0.12M	-0.14M
Net Cash from Investing Activities	-20.45M	-12.11M	-10.54M	-8.75M	-10.63M	-4.24M	-4.35M	-6.79M	-3.06M	-1.97M	-1.68M	-2.35M	-1.97M	-2.86M	-3.48M	-1.46M	-1.37M	-1.98M	-2.02M	-0.84M	-1.09M	-0.63M	-0.49M	-0.73M	-1.09M	-0.59M	-0.57M	-2.19M	-1.32M	-1.08M	-1.21M
Net Debt Issuance	2.15M	-0.06M	-0.23M	-0.16M	-0.26M	0.06M	-0.03M	0.03M	0.03M	0.00M	0.00M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.62M	0.35M
Long-Term Debt Issuance	-0.05M	-0.16M	-0.20M	-0.23M	-0.10M	0.12M	-0.01M	0.03M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.26M	0.00M
Short-Term Debt 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 Stock Issuance	1.33M	1.26M	1.22M	0.99M	2.06M	0.58M	0.36M	0.51M	0.38M	0.53M	0.29M	0.32M	0.14M	0.58M	1.60M	1.07M	0.29M	0.89M	2.41M	1.43M	0.80M	0.60M	0.60M	0.30M	0.19M	0.35M	0.11M	0.80M	1.61M	2.15M	0.36M
Common Stock Issuance	1.26M	1.17M	1.45M	1.22M	2.66M	1.42M	0.73M	0.84M	0.63M	0.68M	0.33M	0.49M	0.30M	0.69M	2.34M	1.64M	0.43M	1.20M	2.77M	2.32M	1.17M	0.86M	0.89M	0.40M	0.37M	0.40M	0.26M	0.88M	2.86M	2.76M	0.27M
Common Stock Repurchased	0.00M	-0.02M	0.00M	-0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	0.00M	-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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common 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
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-1.31M	-0.32M	-0.19M	-0.46M	-0.47M	-0.02M	0.00M	0.01M	0.11M	-0.01M	0.00M	0.00M	0.09M	0.00M	0.13M	0.01M	0.01M	0.00M	0.01M	-0.01M	0.00M	0.00M	0.02M	0.01M	0.05M	0.06M	0.17M	0.02M	0.05M	0.27M	0.00M
Net Cash from Financing Activities	6.32M	1.83M	1.76M	0.93M	3.52M	2.19M	1.02M	1.08M	1.40M	1.07M	0.56M	1.08M	1.06M	0.92M	3.33M	2.04M	0.64M	1.28M	3.42M	1.96M	0.97M	0.81M	0.99M	0.37M	0.42M	0.70M	0.45M	2.35M	2.96M	3.45M	0.46M
Effect of FX on Cash	-0.01M	-0.01M	0.00M	0.02M	-0.02M	-0.01M	0.00M	0.01M	0.00M	0.00M	0.00M	-0.01M	-0.01M	0.01M	-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	0.01M	0.00M	0.00M	0.00M
Net Change in Cash	4.72M	1.11M	0.15M	-0.92M	4.05M	1.80M	0.01M	-0.85M	0.42M	0.29M	-0.32M	0.22M	-0.22M	-1.12M	1.27M	0.95M	-0.36M	-0.13M	1.00M	1.07M	0.21M	-0.01M	0.52M	0.00M	-0.14M	0.26M	-0.07M	-0.16M	-0.56M	1.74M	-0.75M
Cash at Beginning of Period	7.09M	9.54M	9.46M	13.02M	10.16M	4.05M	3.55M	5.04M	4.74M	4.09M	3.79M	5.36M	3.78M	7.26M	2.79M	3.02M	2.57M	3.20M	3.79M	1.61M	1.28M	1.75M	1.09M	0.31M	1.28M	0.69M	0.90M	2.11M	1.59M	0.46M	1.01M
Cash at End of Period	24.39M	11.17M	9.56M	11.11M	12.74M	6.14M	4.06M	3.93M	4.27M	4.79M	4.16M	3.65M	5.50M	5.03M	6.45M	4.14M	3.08M	2.88M	4.99M	4.20M	2.97M	1.34M	1.82M	1.16M	1.53M	1.38M	0.71M	0.90M	2.70M	1.92M	0.26M
Operating Cash Flow	18.47M	9.00M	4.05M	8.02M	6.65M	4.12M	2.19M	1.13M	2.06M	0.46M	-0.40M	0.22M	-0.06M	-0.50M	-0.82M	-0.48M	-0.24M	-0.47M	-0.39M	-0.27M	-0.32M	-0.24M	-0.22M	-0.19M	-0.10M	-0.30M	-0.37M	-0.35M	-0.96M	-0.95M	-0.42M
Capital Expenditure	-19.69M	-11.61M	-8.32M	-9.47M	-8.04M	-3.66M	-4.27M	-5.13M	-2.21M	-1.80M	-1.50M	-2.68M	-1.53M	-2.07M	-2.18M	-1.38M	-1.55M	-2.90M	-1.95M	-1.57M	-1.05M	-0.56M	-0.34M	-0.32M	-0.50M	-0.65M	-0.07M	-1.35M	-0.96M	-1.30M	-1.22M
Free Cash Flow	-0.93M	-2.16M	-2.44M	-1.88M	-2.01M	-0.56M	-1.62M	-1.39M	-1.78M	-1.06M	-1.38M	-1.10M	-1.74M	-2.61M	-2.72M	-1.03M	-1.38M	-2.28M	-1.67M	-1.18M	-0.98M	-0.63M	-0.45M	-0.40M	-0.24M	-0.48M	-0.43M	-1.48M	-2.21M	-2.27M	-1.52M

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	18.83M	10.95M	7.08M	9.06M	15.44M	7.02M	1.58M	2.78M	1.55M	0.34M	-0.35M	-0.47M	1.01M	-0.64M	-0.99M	-0.33M	-0.49M	-1.12M	-0.78M	-0.40M	-0.27M	-0.54M	-0.35M	-0.13M	-0.12M	-0.39M	-0.32M	-0.67M	-0.95M	-0.62M	-0.52M
(-) Tax Adjustment	5.29M	21.89M	6.62M	2.07M	3.93M	0.74M	-0.80M	-0.59M	-0.41M	-0.12M	0.03M	0.11M	-0.70M	0.05M	0.06M	0.06M	0.04M	0.00M	0.21M	0.04M	0.03M	0.04M	0.02M	0.00M	0.04M	0.04M	-0.04M	0.03M	0.01M	-0.02M	-0.06M
(-) Change In Working Capital	0.80M	-0.35M	-0.30M	-1.14M	-0.73M	-0.07M	-0.15M	-0.11M	-0.16M	0.07M	-0.32M	0.03M	-0.04M	-0.08M	-0.19M	-0.11M	0.01M	0.00M	-0.03M	0.01M	0.01M	-0.05M	0.00M	0.03M	-0.07M	-0.05M	-0.11M	0.01M	0.07M	0.01M	0.00M
(-) Capital Expenditure	19.69M	11.61M	8.32M	9.47M	8.04M	3.66M	4.27M	5.13M	2.21M	1.80M	1.50M	2.68M	1.53M	2.07M	2.18M	1.38M	1.55M	2.90M	1.95M	1.57M	1.05M	0.56M	0.34M	0.32M	0.50M	0.65M	0.07M	1.35M	0.96M	1.30M	1.22M
Unlevered Free Cash Flow	-6.95M	-22.20M	-7.56M	-1.35M	4.20M	2.69M	-1.74M	-1.64M	-0.09M	-1.41M	-1.56M	-3.28M	0.22M	-2.67M	-3.04M	-1.67M	-2.09M	-4.03M	-2.91M	-2.02M	-1.35M	-1.09M	-0.71M	-0.49M	-0.58M	-1.03M	-0.23M	-2.06M	-1.99M	-1.90M	-1.68M
(-) Net Interest Income After Taxes	-0.73M	0.84M	-0.04M	-0.75M	-0.73M	-0.84M	-0.98M	-0.40M	-0.20M	-0.22M	-0.19M	-0.12M	-0.11M	-0.07M	-0.03M	-0.03M	-0.03M	0.03M	0.02M	-0.02M	0.00M	0.01M	0.01M	0.01M	0.00M	0.00M	-0.02M	-0.02M	0.00M	0.00M	-0.02M
Net Debt Issuance	2.15M	-0.06M	-0.23M	-0.16M	-0.26M	0.06M	-0.03M	0.03M	0.03M	0.00M	0.00M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.62M	0.35M
Levered Free Cash Flow	-4.07M	-23.10M	-7.75M	-0.76M	4.67M	3.59M	-0.79M	-1.21M	0.14M	-1.18M	-1.37M	-3.16M	0.35M	-2.60M	-3.01M	-1.64M	-2.06M	-4.05M	-2.93M	-2.00M	-1.34M	-1.10M	-0.72M	-0.50M	-0.58M	-1.03M	-0.22M	-2.05M	-1.99M	-1.28M	-1.31M