AVA

Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 16.00 15.96 20.82 20.14
Price to Sales 1.49 1.56 1.89 2.07
Book Value Per Common Share 32.37 31.83 31.15 30.14 29.31
Price to Book 1.13 1.12 1.42 1.41
Price to Operating Cash Flow 5.40 6.11 26.06 11.12
Price to Free Cash Flow
Enterprise Value to EBITDA 64160.00 69254.19 84968.90 77594.98
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Price to Earnings 25.04 33.00 42.72 26.91 28.84 38.48 28.15 40.91 58.15 34.95 37.83 45.15 28.14 36.16 48.72
Price to Sales 2.13 2.97 5.44 2.16 2.68 4.49 1.99 3.47 6.66 2.24 3.74 7.01 2.70 4.16 8.01
Book Value Per Common Share 32.51 32.61 32.88 32.37 31.93 32.11 32.24 31.83 31.15 31.37 31.48 31.15 30.29 30.66 30.83 30.14 29.70 29.71 29.84 29.31
Price to Book 1.16 1.16 1.27 1.13 1.21 1.08 1.09 1.12 1.04 1.25 1.35 1.42 1.22 1.42 1.46 1.41 1.32 1.44 1.60
Price to Operating Cash Flow 7.75 13.63 18.25 6.84 8.55 14.39 6.25 11.01 33.86 12.77 15.25 20.03 11.89 15.57 22.80
Price to Free Cash Flow
Enterprise Value to EBITDA 87164.01 123629.64 208232.54 96248.91 116959.15 193209.87 66635.29 114473.18 283541.70 107409.34 161493.85 265191.64 100741.48 142831.57 244222.54

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY 2.23 5.16 0.95 10.47
Revenue YoY 10.64 2.42 18.85 8.85
EBITDA YoY 13.41 3.03 -0.11 8.53
Net Profit YoY 5.15 10.31 5.32 13.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Earning YoY 31.30 17.35 20.00 31.87 19.79 31.51 -7.83 15.00 17.80 20.41
Revenue YoY 39.20 66.61 38.93 65.98 44.42 78.49 42.76 81.93 41.63 72.24
EBITDA YoY 41.77 53.70 36.88 64.34 43.16 131.44 29.43 59.42 32.04 53.58
Net Profit YoY 31.18 17.72 19.59 31.97 20.35 31.88 -6.98 16.00 17.50 20.69

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 2.38 2.47 2.21 1.62 1.09
Quick Ratio 0.51 0.52 0.43 0.35 0.47
Current Ratio 0.85 0.85 0.75 0.48 0.68
Debt to Equity 0.29 0.29 0.30 0.30 0.29
Long-Term Debt to Equity 0.25 0.25 0.24 0.24 0.26
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Cash Per Common Share 2.38 1.93 2.14 2.34 2.15 2.20 2.15 2.41 2.15 2.19 2.15 2.15 1.76 1.85 4.13 1.59 1.48 1.57 1.20 1.07
Quick Ratio 0.48 0.49 0.54 0.51 0.45 0.52 0.67 0.52 0.51 0.57 0.63 0.43 0.43 0.54 0.76 0.35 0.29 0.27 0.48 0.47
Current Ratio 0.91 1.00 0.93 0.85 0.75 0.88 0.97 0.85 0.94 0.97 1.08 0.75 0.68 0.75 0.93 0.48 0.45 0.41 0.71 0.68
Debt to Equity 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.30 0.30 0.29 0.30 0.30 0.30 0.30 0.29 0.29
Long-Term Debt to Equity 0.25 0.26 0.25 0.25 0.25 0.26 0.26 0.25 0.26 0.26 0.26 0.24 0.26 0.26 0.26 0.24 0.25 0.24 0.26 0.26

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 0.75 0.74 0.70 0.72 0.67
ROE 0.97 0.95 0.90 0.93 0.87
Gross Margin
Operating Margin 9.44 7.85 8.07 11.08 10.33
EBITDA Margin 23.58 23.01 22.87 27.21 27.29
Net Profit Margin 9.29 9.77 9.07 10.24 9.80
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
ROA 0.50 0.39 0.33 0.49 0.41 0.31 0.39 0.33 0.25 0.37 0.40 0.34 0.48 0.41 0.36
ROE 0.65 0.50 0.43 0.63 0.53 0.41 0.51 0.43 0.32 0.48 0.52 0.44 0.62 0.54 0.46
Gross Margin
Operating Margin 9.57 10.31 14.75 8.20 9.61 12.11 14.39 15.35 10.07 5.46 8.47 13.14 10.48 13.59 19.42
EBITDA Margin 24.67 24.22 26.26 22.69 23.03 23.26 30.45 30.72 23.69 21.21 23.39 26.69 27.29 29.27 32.83
Net Profit Margin 8.53 9.05 12.80 8.03 9.33 11.73 7.05 8.46 11.46 6.43 9.88 15.49 9.58 11.54 16.47

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 23,919,000.00 23,186,841.00 22,298,186.00 20,585,432.00 19,215,905.00
   Current Assets 656,000.00 661,842.00 721,802.00 434,473.00 343,977.00
      Cash and Short-Term Investments 187,000.00 188,353.00 161,237.00 113,325.00 74,014.00
            Cash and Cash Equivalents 30,000.00 35,003.00 13,428.00 22,268.00 14,696.00
            Short-Term Investments 157,000.00 153,350.00 147,809.00 91,057.00 59,318.00
      Net Receivables 205,000.00 216,744.00 255,746.00 203,035.00 163,772.00
      Inventory 193,000.00 159,984.00 107,674.00 84,733.00 67,451.00
      Other Current Assets 71,000.00 96,761.00 197,145.00 33,380.00 38,740.00
   Non-Current Assets 23,263,000.00 22,524,999.00 21,576,384.00 20,150,959.00 18,871,928.00
      Property, Plant, Equipment Net 8,484,000.00 8,046,593.00 7,794,073.00 7,442,118.00 7,057,455.00
      Goodwill 52,000.00 52,426.00 52,426.00 52,426.00 52,426.00
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 77,000.00 78,513.00 70,196.00 14,949.00 14,454.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 14,650,000.00 14,347,467.00 13,659,689.00 12,641,466.00 11,747,593.00
Liabilities 5,350,000.00 5,217,154.00 5,082,682.00 4,698,839.00 4,372,371.00
   Current Liabilities 771,000.00 775,205.00 964,534.00 913,106.00 505,879.00
      Payables and Expenses 190,000.00 197,279.00 252,643.00 174,802.00 151,712.00
            Account Payables 125,000.00 143,262.00 202,954.00 133,096.00 106,613.00
            Current Accrued Liabilities 65,000.00 54,017.00 49,689.00 41,706.00 45,099.00
      Short-Term Debt 354,000.00 364,000.00 476,500.00 534,000.00 203,000.00
      Other Current Liabilities 227,000.00 213,926.00 235,391.00 204,304.00 151,167.00
   Non-Current Liabilities 4,579,000.00 4,441,949.00 4,118,148.00 3,785,733.00 3,866,492.00
      Long-Term Debt 2,666,000.00 2,566,905.00 2,281,013.00 1,898,370.00 2,008,534.00
      Other Non-Current Liabilities 1,913,000.00 1,875,044.00 1,837,135.00 1,887,363.00 1,857,958.00
Equity 18,569,000.00 17,969,687.00 17,215,504.00 15,886,593.00 14,843,534.00
   Shareholders Equity 2,591,000.00 2,485,323.00 2,334,668.00 2,154,744.00 2,029,726.00
      Capital Stock 1,720,000.00 1,644,327.00 1,525,185.00 1,380,152.00 1,286,068.00
      Share Premium 0 0 0 0 0
      Retained Earnings 871,000.00 841,353.00 811,541.00 785,631.00 758,036.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 -357.00 -2,058.00 -11,039.00 -14,378.00
   Minority Interest 0 0 0 0 0
Investments 157,000.00 153,350.00 147,809.00 91,057.00 59,318.00
Debt 3,020,000.00 2,930,905.00 2,757,513.00 2,432,370.00 2,211,534.00
Net Debt 2,833,000.00 2,742,552.00 2,596,276.00 2,319,045.00 2,137,520.00
Common Shares Outstanding 80,039.00 78,074.59 74,945.95 71,497.52 69,238.90
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 1,938,000.00 1,751,554.00 1,710,207.00 1,438,936.00 1,321,891.00
   Selling, General and Administrative Expenses 8,000.00 7,144.00 7,567.00 4,713.00 5,846.00
Operating Income 306,000.00 775,352.00 581,766.00 690,313.00 702,546.00
Net Non-Operating Income -123,000.00 -637,802.00 -443,781.00 -530,948.00 -566,007.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
Net Interest 14,000.00 5,949.00 1,957.00 1,943.00 1,952.00
EBT 183,000.00 137,550.00 137,985.00 159,365.00 136,539.00
Income Tax 11,000.00 99,298.00 59,413.00 32,854.00 22,034.00
Net Income Including Non-Controlling Interests 0 0 0 147,334.00 129,488.00
Net Income Non-Controlling Interests 0 0 0 0.00 0.00
Net Income 180,000.00 171,180.00 155,176.00 147,334.00 129,488.00
EBIT 183,000.00 137,550.00 137,985.00 159,365.00 136,539.00
Deprecation and Amortization 274,000.00 265,409.00 253,142.00 232,176.00 224,223.00
EBITDA 457,000.00 402,959.00 391,127.00 391,541.00 360,762.00
EPS 0.00 0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 78,725.00 76,396.00 72,989.00 69,951.00 67,962.00
Average Shares Outstanding Diluted 78,820.00 76,495.00 73,093.00 70,085.00 68,102.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 534,000.00 447,079.00 124,207.00 267,340.00 331,004.00
   Operating Net Income 180,000.00 171,180.00 155,176.00 147,334.00 129,488.00
   Deprecation and Amortization 274,000.00 265,409.00 253,142.00 232,176.00 224,223.00
   Deferred Income Tax -5,000.00 -36,837.00 -18,231.00 11,224.00 44,964.00
   Share Based Compensation 9,000.00 8,442.00 8,717.00 4,713.00 5,846.00
   Change in Working Capital -22,000.00 -129,856.00 259,727.00 51,160.00 48,431.00
   Other Operating Activities 98,000.00 168,741.00 -534,324.00 -179,267.00 -121,948.00
Investing Cash Flow -539,000.00 -510,389.00 -460,238.00 -444,916.00 -410,743.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 533,000.00 498,637.00 451,995.00 439,939.00 404,306.00
   Net Purchase/Sale of Investments Net -4,000.00 1,572.00 -1,399.00 6,400.00 7,298.00
   Net Purchase/Sale of Business 0 3,200.00 1,000.00 8,306.00 6,786.00
   Other Investing Activities -1,068,000.00 -1,013,798.00 -911,834.00 -899,561.00 -829,133.00
Financing Cash Flow 0 84,885.00 327,291.00 185,548.00 84,039.00
   Net Issuance/Repayment of Debt 92,000.00 152,735.00 831,941.00 223,935.00 237,000.00
   Net Issuance/Repurchase of Equity 68,000.00 112,308.00 137,778.00 89,998.00 72,200.00
   Dividends Paid 150,000.00 140,923.00 129,061.00 118,211.00 110,254.00
   Other Financing Activities 0 -321,081.00 -771,489.00 -246,596.00 -335,415.00
Net Change in Cash -5,000.00 21,575.00 -8,740.00 7,972.00 4,300.00
   Cash at Beginning of Period 35,000.00 13,428.00 22,168.00 14,196.00 9,896.00
   Cash at End of Period 30,000.00 35,003.00 13,428.00 22,168.00 14,196.00
Free Cash Flow 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Assets 24,329,000.00 24,042,000.00 23,736,000.00 23,919,000.00 23,174,553.00 22,882,304.00 22,776,812.00 23,186,841.00 22,237,736.00 21,943,015.00 22,009,162.00 22,298,186.00 21,027,108.00 20,673,321.00 20,976,290.00 20,585,432.00 20,077,053.00 19,835,586.00 19,101,048.00 19,215,905.00
   Current Assets 665,000.00 667,000.00 667,000.00 656,000.00 525,074.00 550,860.00 561,945.00 661,842.00 547,220.00 526,939.00 655,700.00 721,802.00 463,604.00 416,961.00 596,076.00 434,473.00 356,275.00 361,954.00 350,082.00 343,977.00
      Cash and Short-Term Investments 192,000.00 155,000.00 172,000.00 187,000.00 168,351.00 172,016.00 168,430.00 188,353.00 163,503.00 165,379.00 161,277.00 161,237.00 127,853.00 133,576.00 296,393.00 113,325.00 102,820.00 109,048.00 82,979.00 74,014.00
            Cash and Cash Equivalents 44,000.00 9,000.00 17,000.00 30,000.00 9,124.00 14,647.00 12,274.00 35,003.00 8,630.00 15,704.00 10,596.00 13,428.00 14,463.00 21,619.00 203,598.00 22,268.00 19,324.00 39,127.00 21,847.00 14,696.00
            Short-Term Investments 148,000.00 146,000.00 155,000.00 157,000.00 159,227.00 157,369.00 156,156.00 153,350.00 154,873.00 149,675.00 150,681.00 147,809.00 113,390.00 111,957.00 92,795.00 91,057.00 83,496.00 69,921.00 61,132.00 59,318.00
      Net Receivables 155,000.00 170,000.00 216,000.00 205,000.00 143,706.00 153,519.00 217,974.00 216,744.00 131,900.00 141,643.00 216,567.00 255,746.00 164,928.00 166,122.00 193,200.00 203,035.00 130,696.00 129,835.00 153,128.00 163,772.00
      Inventory 228,000.00 216,000.00 202,000.00 193,000.00 185,940.00 175,588.00 163,709.00 159,984.00 145,174.00 115,805.00 101,775.00 107,674.00 123,447.00 105,791.00 76,402.00 84,733.00 87,203.00 82,778.00 63,160.00 67,451.00
      Other Current Assets 90,000.00 126,000.00 77,000.00 71,000.00 27,077.00 49,737.00 11,832.00 96,761.00 106,643.00 104,112.00 176,081.00 197,145.00 47,376.00 11,472.00 30,081.00 33,380.00 35,556.00 40,293.00 50,815.00 38,740.00
   Non-Current Assets 23,664,000.00 23,375,000.00 23,069,000.00 23,263,000.00 22,649,479.00 22,331,444.00 22,214,867.00 22,524,999.00 21,690,516.00 21,416,076.00 21,353,462.00 21,576,384.00 20,563,504.00 20,256,360.00 20,380,214.00 20,150,959.00 19,720,778.00 19,473,632.00 18,750,966.00 18,871,928.00
      Property, Plant, Equipment Net 8,792,000.00 8,704,000.00 8,566,000.00 8,484,000.00 8,380,341.00 8,235,971.00 8,112,112.00 8,046,593.00 7,975,625.00 7,863,077.00 7,752,147.00 7,794,073.00 7,689,817.00 7,589,072.00 7,487,316.00 7,442,118.00 7,342,804.00 7,235,954.00 7,130,747.00 7,057,455.00
      Goodwill 52,000.00 52,000.00 52,000.00 52,000.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00 52,426.00
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 12,000.00 12,000.00 12,000.00 77,000.00 15,295.00 15,578.00 15,432.00 78,513.00 18,234.00 18,466.00 18,272.00 70,196.00 17,254.00 17,049.00 15,287.00 14,949.00 14,759.00 14,803.00 14,665.00 14,454.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 14,808,000.00 14,607,000.00 14,439,000.00 14,650,000.00 14,201,417.00 14,027,469.00 14,034,897.00 14,347,467.00 13,644,231.00 13,482,107.00 13,530,617.00 13,659,689.00 12,804,007.00 12,597,813.00 12,825,185.00 12,641,466.00 12,310,789.00 12,170,449.00 11,553,128.00 11,747,593.00
Liabilities 5,517,000.00 5,420,000.00 5,317,000.00 5,350,000.00 5,252,795.00 5,156,531.00 5,128,484.00 5,217,154.00 5,060,143.00 4,970,894.00 5,008,615.00 5,082,682.00 4,820,950.00 4,700,220.00 4,802,710.00 4,698,839.00 4,629,842.00 4,576,335.00 4,330,906.00 4,372,371.00
   Current Liabilities 729,000.00 668,000.00 721,000.00 771,000.00 700,155.00 624,766.00 580,280.00 775,205.00 583,464.00 541,163.00 604,587.00 964,534.00 685,200.00 553,401.00 641,925.00 913,106.00 799,186.00 891,909.00 492,799.00 505,879.00
      Payables and Expenses 177,000.00 167,000.00 172,000.00 190,000.00 159,001.00 148,725.00 147,215.00 197,279.00 150,547.00 139,263.00 150,064.00 252,643.00 155,058.00 166,166.00 164,672.00 174,802.00 145,769.00 146,165.00 149,730.00 151,712.00
            Account Payables 118,000.00 111,000.00 113,000.00 125,000.00 104,512.00 104,620.00 102,886.00 143,262.00 105,320.00 103,587.00 112,230.00 202,954.00 112,646.00 121,315.00 112,126.00 133,096.00 102,824.00 104,048.00 93,100.00 106,613.00
            Current Accrued Liabilities 59,000.00 56,000.00 59,000.00 65,000.00 54,489.00 44,105.00 44,329.00 54,017.00 45,227.00 35,676.00 37,834.00 49,689.00 42,412.00 44,851.00 52,546.00 41,706.00 42,945.00 42,117.00 56,630.00 45,099.00
      Short-Term Debt 287,000.00 270,000.00 287,000.00 354,000.00 302,250.00 259,000.00 227,155.00 364,000.00 221,500.00 210,000.00 244,500.00 476,500.00 281,500.00 164,500.00 250,000.00 534,000.00 449,075.00 546,000.00 193,000.00 203,000.00
      Other Current Liabilities 265,000.00 231,000.00 262,000.00 227,000.00 238,904.00 217,041.00 205,910.00 213,926.00 211,417.00 191,900.00 210,023.00 235,391.00 248,642.00 222,735.00 227,253.00 204,304.00 204,342.00 199,744.00 150,069.00 151,167.00
   Non-Current Liabilities 4,788,000.00 4,752,000.00 4,596,000.00 4,579,000.00 4,552,640.00 4,531,765.00 4,548,204.00 4,441,949.00 4,476,679.00 4,429,731.00 4,404,028.00 4,118,148.00 4,135,750.00 4,146,819.00 4,160,785.00 3,785,733.00 3,830,656.00 3,684,426.00 3,838,107.00 3,866,492.00
      Long-Term Debt 2,805,000.00 2,801,000.00 2,666,000.00 2,666,000.00 2,650,193.00 2,649,945.00 2,649,338.00 2,566,905.00 2,581,763.00 2,581,548.00 2,530,009.00 2,281,013.00 2,280,802.00 2,287,606.00 2,294,179.00 1,898,370.00 1,898,235.00 1,758,961.00 2,008,742.00 2,008,534.00
      Other Non-Current Liabilities 1,983,000.00 1,951,000.00 1,930,000.00 1,913,000.00 1,902,447.00 1,881,820.00 1,898,866.00 1,875,044.00 1,894,916.00 1,848,183.00 1,874,019.00 1,837,135.00 1,854,948.00 1,859,213.00 1,866,606.00 1,887,363.00 1,932,421.00 1,925,465.00 1,829,365.00 1,857,958.00
Equity 18,812,000.00 18,622,000.00 18,419,000.00 18,569,000.00 17,921,758.00 17,725,773.00 17,648,328.00 17,969,687.00 17,177,593.00 16,972,121.00 17,000,547.00 17,215,504.00 16,206,158.00 15,973,101.00 16,173,580.00 15,886,593.00 15,447,211.00 15,259,251.00 14,770,142.00 14,843,534.00
   Shareholders Equity 2,645,000.00 2,645,000.00 2,649,000.00 2,591,000.00 2,528,088.00 2,527,239.00 2,520,500.00 2,485,323.00 2,409,887.00 2,400,421.00 2,385,311.00 2,334,668.00 2,234,849.00 2,237,494.00 2,233,300.00 2,154,744.00 2,101,636.00 2,069,966.00 2,068,590.00 2,029,726.00
      Capital Stock 1,771,000.00 1,760,000.00 1,737,000.00 1,720,000.00 1,686,776.00 1,666,692.00 1,645,208.00 1,644,327.00 1,618,780.00 1,588,503.00 1,555,651.00 1,525,185.00 1,478,443.00 1,443,102.00 1,418,421.00 1,380,152.00 1,349,960.00 1,303,411.00 1,285,999.00 1,286,068.00
      Share Premium 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Retained Earnings 874,000.00 885,000.00 912,000.00 871,000.00 841,687.00 860,913.00 875,658.00 841,353.00 793,221.00 814,013.00 831,736.00 811,541.00 766,624.00 804,882.00 825,642.00 785,631.00 765,127.00 780,310.00 796,654.00 758,036.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 -375.00 -366.00 -366.00 -357.00 -2,114.00 -2,095.00 -2,076.00 -2,058.00 -10,218.00 -10,490.00 -10,763.00 -11,039.00 -13,451.00 -13,755.00 -14,063.00 -14,378.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 148,000.00 146,000.00 155,000.00 157,000.00 159,227.00 157,369.00 156,156.00 153,350.00 154,873.00 149,675.00 150,681.00 147,809.00 113,390.00 111,957.00 92,795.00 91,057.00 83,496.00 69,921.00 61,132.00 59,318.00
Debt 3,092,000.00 3,071,000.00 2,953,000.00 3,020,000.00 2,952,443.00 2,908,945.00 2,876,493.00 2,930,905.00 2,803,263.00 2,791,548.00 2,774,509.00 2,757,513.00 2,562,302.00 2,452,106.00 2,544,179.00 2,432,370.00 2,347,310.00 2,304,961.00 2,201,742.00 2,211,534.00
Net Debt 2,900,000.00 2,916,000.00 2,781,000.00 2,833,000.00 2,784,092.00 2,736,929.00 2,708,063.00 2,742,552.00 2,639,760.00 2,626,169.00 2,613,232.00 2,596,276.00 2,434,449.00 2,318,530.00 2,247,786.00 2,319,045.00 2,244,490.00 2,195,913.00 2,118,763.00 2,137,520.00
Common Shares Outstanding 81,370.00 81,109.00 80,561.00 80,039.00 79,180.96 78,702.12 78,187.09 78,074.59 77,364.12 76,524.18 75,762.60 74,945.95 73,774.80 72,976.08 72,438.45 71,497.52 70,767.21 69,666.67 69,313.34 69,238.90
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Revenues 1,431,000.00 1,028,000.00 617,000.00 -1,088,134.00 1,405,230.00 1,011,488.00 609,416.00 -815,983.00 1,234,194.00 854,568.00 478,775.00 -792,509.00 1,200,058.00 840,612.00 462,046.00 -692,191.00 1,007,132.00 711,125.00 412,870.00
   Selling, General and Administrative Expenses 0 0 0 8,000.00 0 0 0 7,144.00 0 0 0 7,567.00 0 0 0 4,713.00 0 0 0
Operating Income 242,000.00 182,000.00 125,000.00 -1,077,557.00 613,179.00 466,733.00 303,645.00 -295,680.00 477,560.00 362,753.00 230,719.00 -377,972.00 384,544.00 325,419.00 249,775.00 -500,607.00 476,554.00 407,559.00 306,807.00
Net Non-Operating Income -105,000.00 -76,000.00 -34,000.00 974,439.00 -498,016.00 -369,579.00 -229,844.00 254,301.00 -406,739.00 -302,862.00 -182,502.00 318,503.00 -319,002.00 -254,236.00 -189,046.00 377,551.00 -370,967.00 -310,906.00 -226,626.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -178,046.00 106,765.00 71,281.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Interest 9,000.00 5,000.00 2,000.00 14,000.00 0 0 0 5,949.00 0 0 0 1,957.00 0 0 0 1,943.00 0 0 0
EBT 137,000.00 106,000.00 91,000.00 -103,118.00 115,163.00 97,154.00 73,801.00 -41,379.00 70,821.00 59,891.00 48,217.00 -59,469.00 65,542.00 71,183.00 60,729.00 -123,056.00 105,587.00 96,653.00 80,181.00
Income Tax 48,000.00 42,000.00 37,000.00 -12,796.00 7,920.00 8,977.00 6,899.00 -4,046.00 47,749.00 36,368.00 19,227.00 -47,919.00 37,014.00 37,546.00 32,772.00 -70,764.00 25,011.00 42,228.00 36,379.00
Net Income Including Non-Controlling Interests 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 147,334.00 0 0 0
Net Income Non-Controlling Interests 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.00 0 0 0
Net Income 122,000.00 93,000.00 79,000.00 -98,688.00 112,840.00 94,353.00 71,495.00 -43,039.00 87,045.00 72,329.00 54,845.00 -76,627.00 77,220.00 83,018.00 71,565.00 -99,231.00 96,457.00 82,091.00 68,017.00
EBIT 137,000.00 106,000.00 91,000.00 -103,118.00 115,163.00 97,154.00 73,801.00 -219,425.00 177,586.00 131,172.00 48,217.00 -59,469.00 65,542.00 71,183.00 60,729.00 -123,056.00 105,587.00 96,653.00 80,181.00
Deprecation and Amortization 216,000.00 143,000.00 71,000.00 -133,341.00 203,650.00 135,761.00 67,930.00 -129,449.00 198,272.00 131,367.00 65,219.00 -123,873.00 188,961.00 125,445.00 62,609.00 -103,898.00 169,239.00 111,487.00 55,348.00
EBITDA 353,000.00 249,000.00 162,000.00 -236,459.00 318,813.00 232,915.00 141,731.00 -348,874.00 375,858.00 262,539.00 113,436.00 -183,342.00 254,503.00 196,628.00 123,338.00 -226,954.00 274,826.00 208,140.00 135,529.00
EPS 0.00 0.00 0.00 -0.00 0.00 0.00 0.00 -0.00 0.00 0.00 0.00 -0.00 0.00 0.00 0.00 -0.00 0.00 0.00 0.00
Diluted EPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Shares Outstanding Basic 80,721.00 80,466.00 80,218.00 80,000.00 78,463.00 78,276.00 78,161.00 78,877.00 75,962.00 75,576.00 75,169.00 75,417.00 72,547.00 72,205.00 71,787.00 71,581.00 69,582.00 69,348.00 69,293.00
Average Shares Outstanding Diluted 80,787.00 80,542.00 80,309.00 80,191.00 78,545.00 78,333.00 78,211.00 78,946.00 76,056.00 75,703.00 75,275.00 75,519.00 72,629.00 72,294.00 71,930.00 71,592.00 69,722.00 69,520.00 69,506.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31
Operating Cash Flow 394,000.00 224,000.00 184,000.00 -417,349.00 444,207.00 316,995.00 190,147.00 -310,034.00 393,306.00 269,561.00 94,246.00 -453,996.00 210,412.00 205,941.00 161,850.00 -296,729.00 228,916.00 190,063.00 145,090.00
   Operating Net Income 122,000.00 93,000.00 79,000.00 -98,688.00 112,840.00 94,353.00 71,495.00 -43,039.00 87,045.00 72,329.00 54,845.00 -76,627.00 77,220.00 83,018.00 71,565.00 -99,231.00 96,457.00 82,091.00 68,017.00
   Deprecation and Amortization 216,000.00 143,000.00 71,000.00 -133,341.00 203,650.00 135,761.00 67,930.00 -129,449.00 198,272.00 131,367.00 65,219.00 -123,873.00 188,961.00 125,445.00 62,609.00 -103,898.00 169,239.00 111,487.00 55,348.00
   Deferred Income Tax -2,000.00 -5,000.00 -11,000.00 61,828.00 -24,853.00 -23,004.00 -18,971.00 9,841.00 -15,958.00 -20,565.00 -10,155.00 21,395.00 -19,494.00 -12,930.00 -7,202.00 -24,472.00 18,645.00 11,085.00 5,966.00
   Share Based Compensation 8,000.00 7,000.00 3,000.00 -7,992.00 8,291.00 6,350.00 2,351.00 -6,337.00 7,098.00 5,460.00 2,221.00 -3,561.00 6,787.00 3,646.00 1,845.00 -1,366.00 3,173.00 2,280.00 626.00
   Change in Working Capital 34,000.00 40,000.00 21,000.00 137,071.00 -40,809.00 -70,702.00 -47,560.00 409,597.00 -175,664.00 -211,685.00 -152,104.00 185,708.00 85,853.00 18,996.00 -30,830.00 5,476.00 19,168.00 22,962.00 3,554.00
   Other Operating Activities 16,000.00 -54,000.00 21,000.00 -376,227.00 185,088.00 174,237.00 114,902.00 -550,647.00 292,513.00 292,655.00 134,220.00 -457,038.00 -128,915.00 -12,234.00 63,863.00 -73,238.00 -77,766.00 -39,842.00 11,579.00
Investing Cash Flow -373,000.00 -248,000.00 -103,000.00 243,242.00 -410,012.00 -254,130.00 -118,100.00 198,519.00 -368,580.00 -234,075.00 -106,253.00 195,173.00 -340,311.00 -219,419.00 -95,681.00 189,314.00 -326,930.00 -210,839.00 -96,461.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 379,000.00 246,000.00 103,000.00 -242,344.00 405,428.00 251,207.00 118,709.00 -187,876.00 359,277.00 226,746.00 100,490.00 -185,947.00 331,309.00 210,646.00 95,987.00 -193,899.00 322,808.00 213,827.00 97,203.00
   Net Purchase/Sale of Investments Net 3,000.00 -1,000.00 0 3,567.00 -2,990.00 -2,192.00 -2,385.00 -761.00 503.00 848.00 982.00 -2,811.00 941.00 1,008.00 -537.00 10,706.00 -193.00 -1,832.00 -2,281.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0.00 3,200.00 0 0 0.00 1,000.00 0 0 -7,607.00 8,306.00 6,806.00 801.00
   Other Investing Activities -755,000.00 -493,000.00 -206,000.00 482,019.00 -812,450.00 -503,145.00 -234,424.00 387,156.00 -731,560.00 -461,669.00 -207,725.00 383,931.00 -673,561.00 -431,073.00 -191,131.00 380,114.00 -657,851.00 -429,640.00 -192,184.00
Financing Cash Flow -7,000.00 3,000.00 -94,000.00 0 -60,074.00 -83,221.00 -94,776.00 138,444.00 -29,524.00 -33,210.00 9,175.00 77,007.00 122,094.00 12,929.00 115,261.00 78,077.00 103,042.00 45,607.00 -41,178.00
   Net Issuance/Repayment of Debt 76,000.00 53,000.00 -66,000.00 140,250.00 24,500.00 -19,600.00 -53,150.00 111,382.00 24,426.00 -1,882.00 18,809.00 -446,255.00 636,170.00 525,399.00 116,627.00 462.00 138,223.00 94,491.00 -9,241.00
   Net Issuance/Repurchase of Equity 45,000.00 35,000.00 16,000.00 14,542.00 35,743.00 17,600.00 115.00 -65,294.00 88,165.00 59,525.00 29,912.00 -53,839.00 92,966.00 60,765.00 37,886.00 12,899.00 61,345.00 15,689.00 65.00
   Dividends Paid 119,000.00 79,000.00 40,000.00 -75,382.00 112,475.00 75,090.00 37,817.00 -69,211.00 105,163.00 69,942.00 35,029.00 -63,263.00 96,278.00 64,077.00 31,969.00 -58,085.00 88,204.00 58,693.00 29,399.00
   Other Financing Activities -247,000.00 -164,000.00 -84,000.00 0 -232,792.00 -156,311.00 -79,558.00 161,567.00 -247,278.00 -160,795.00 -74,575.00 640,364.00 -703,320.00 -637,312.00 -71,221.00 122,801.00 -184,730.00 -123,266.00 -61,401.00
Net Change in Cash 14,000.00 -21,000.00 -13,000.00 63,964.00 -25,879.00 -20,356.00 -22,729.00 26,929.00 -4,798.00 2,276.00 -2,832.00 -181,816.00 -7,805.00 -549.00 181,430.00 -29,338.00 5,028.00 24,831.00 7,451.00
   Cash at Beginning of Period 30,000.00 30,000.00 30,000.00 -33,964.00 35,003.00 35,003.00 35,003.00 8,074.00 13,428.00 13,428.00 13,428.00 195,244.00 22,168.00 22,168.00 22,168.00 51,506.00 14,196.00 14,196.00 14,196.00
   Cash at End of Period 44,000.00 9,000.00 17,000.00 30,000.00 9,124.00 14,647.00 12,274.00 35,003.00 8,630.00 15,704.00 10,596.00 13,428.00 14,363.00 21,619.00 203,598.00 22,168.00 19,224.00 39,027.00 21,647.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0