Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -13.20 2890.00 -66.89 658.17 359.75
Price to Sales 3.23 4.12 2.87 4.04 3.04
Book Value Per Common Share 2.88 15.08 14.43 15.12 8.84
Price to Book 25.64 5.75 4.08 5.22 6.51
Price to Operating Cash Flow 12.63 22.82 14.89 17.53 18.75
Price to Free Cash Flow 16.34 33.62 22.85 23.19 36.44
Enterprise Value to EBITDA 278314.95 367492.41 336719.68 210694.83
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-03-31
Price to Earnings 64.31 118.91 620.50 206.54 741.40 -247.50 -299.35
Price to Sales 10.91 10.90 11.10 14.89 13.82 13.80 11.92 15.36
Book Value Per Common Share 2.25 1.81 0.68 2.88 10.70 10.35 15.08 13.81 13.77 8.79
Price to Book 28.57 35.41 90.74 25.64 7.91 7.17 5.75 5.02 4.35 8.09
Price to Operating Cash Flow 22.03 45.83 2162.02 41.06 59.72 165.67 125.09 111.83
Price to Free Cash Flow 24.88 59.58 -244.87 48.32 75.25 557.97 405.62 194.26
Enterprise Value to EBITDA 390616.18 391774.39 681374.77 553071.18 866712.84 1868854.81 1456592.40 1290133.86

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -25.00
Revenue YoY 4.53 4.47 14.05 1.59
EBITDA YoY 102.25 -25.73 -15.52
Net Profit YoY -26.16
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-03-31
Earning YoY 85.19 440.00 -75.61 310.00
Revenue YoY -0.08 3.96 -5.60 2.68 6.68 1.80 17.31
EBITDA YoY -0.48 79.94 -43.27 76.37 128.43 -8.14 -19.35
Net Profit YoY 82.80 433.80 -76.31 291.57

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 16.05 13.87 14.24 13.77 13.39
Quick Ratio 0.71 0.69 0.68 0.68 0.73
Current Ratio 0.78 0.78 0.75 0.77 0.81
Debt to Equity 16.58 2.60 3.02 3.14 3.80
Long-Term Debt to Equity 7.76 1.12 1.37 1.60 1.42
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-03-31
Cash Per Common Share 0.80 0.87 9.52 16.48 0.69 7.42 13.59 7.49 6.16 5.99
Quick Ratio 0.13 0.14 0.62 0.71 0.15 0.56 0.69 0.57 0.54 0.57
Current Ratio 0.69 0.84 0.73 0.78 0.68 0.67 0.78 0.67 0.67 0.72
Debt to Equity 18.45 28.90 62.37 16.58 3.78 3.77 2.60 2.67 2.73 3.05
Long-Term Debt to Equity 9.86 13.21 36.33 7.76 2.01 2.16 1.12 1.47 1.65 1.49

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -11.35 0.06 -1.52 0.19 0.38
ROE -199.43 0.23 -6.10 0.79 1.81
Gross Margin 55.32 54.57 52.24 52.23 53.13
Operating Margin -22.15 5.21 -1.87 3.10 4.26
EBITDA Margin -11.62 15.11 7.81 11.99 14.41
Net Profit Margin -24.51 0.16 -4.29 0.61 0.85
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-03-31
ROA 2.26 0.99 0.23 0.79 0.21 -0.56 -0.40 -0.01
ROE 43.90 29.54 14.67 3.77 0.98 -2.04 -1.48 -0.04
Gross Margin 59.57 59.62 57.58 55.53 54.81 52.97 52.02 52.83
Operating Margin 20.57 20.54 8.33 16.33 5.04 -3.03 -1.75 2.57
EBITDA Margin 28.14 28.25 16.32 27.16 15.81 7.39 8.18 11.91
Net Profit Margin 16.89 9.23 1.80 7.16 1.88 -5.62 -4.05 -0.07

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 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-03-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 2,495,715.00 2,912,279.00 2,992,703.00 2,971,617.00 2,044,734.00
   Current Assets 976,308.00 929,757.00 918,643.00 850,971.00 819,060.00
      Cash and Short-Term Investments 811,482.00 728,610.00 734,180.00 652,739.00 645,290.00
            Cash and Cash Equivalents 809,512.00 728,257.00 733,931.00 651,762.00 644,969.00
            Short-Term Investments 1,970.00 353.00 249.00 977.00 321.00
      Net Receivables 83,539.00 101,862.00 102,809.00 102,726.00 95,404.00
      Inventory 0 0 0 0 0
      Other Current Assets 81,287.00 99,285.00 81,654.00 95,506.00 78,366.00
   Non-Current Assets 1,519,407.00 1,982,522.00 2,074,060.00 2,120,646.00 1,225,674.00
      Property, Plant, Equipment Net 118,480.00 135,616.00 153,325.00 165,311.00 127,848.00
      Goodwill 1,052,506.00 1,053,738.00 1,050,272.00 1,058,640.00 635,854.00
      Intangible Assets 132,881.00 581,937.00 635,136.00 698,052.00 277,506.00
      Long-Term Investments 4,943.00 0 0 0 0
      Non-Current Deferred Assets 7,633.00 5,992.00 1,820.00 1,057.00 524.00
      Other Non-Current Assets 202,964.00 205,239.00 233,507.00 197,586.00 183,942.00
Liabilities 2,353,722.00 2,103,574.00 2,248,671.00 2,254,557.00 1,618,584.00
   Current Liabilities 1,252,097.00 1,197,137.00 1,230,642.00 1,109,632.00 1,013,404.00
      Payables and Expenses 50,810.00 25,184.00 42,559.00 22,067.00 27,836.00
            Account Payables 50,810.00 25,184.00 42,559.00 22,067.00 27,836.00
            Current Accrued Liabilities 0 0 0 0 0
      Short-Term Debt 23,875.00 19,259.00 18,802.00 18,697.00 12,840.00
      Other Current Liabilities 1,177,412.00 1,152,694.00 1,169,281.00 1,068,868.00 972,728.00
   Non-Current Liabilities 1,101,625.00 906,437.00 1,018,029.00 1,144,925.00 605,180.00
      Long-Term Debt 1,085,296.00 800,490.00 885,159.00 990,869.00 535,550.00
      Other Non-Current Liabilities 16,329.00 105,947.00 132,870.00 154,056.00 69,630.00
Equity 141,993.00 808,705.00 744,032.00 717,060.00 426,150.00
   Shareholders Equity 141,993.00 808,705.00 744,032.00 717,060.00 426,150.00
      Capital Stock 71.00 69.00 68.00 66.00 61.00
      Share Premium 1,291,442.00 1,203,012.00 1,075,264.00 968,927.00 544,963.00
      Retained Earnings -84,303.00 198,869.00 197,049.00 242,456.00 236,714.00
      Treasury Shares -1,060,348.00 -591,557.00 -537,287.00 -500,911.00 -353,091.00
      Accumulated Other Comprehensive Income -4,869.00 -1,688.00 8,938.00 6,522.00 -2,497.00
   Minority Interest 0 0 0 0 0
Investments 1,970.00 353.00 249.00 977.00 321.00
Debt 1,109,171.00 819,749.00 903,961.00 1,009,566.00 548,390.00
Net Debt 297,689.00 91,139.00 169,781.00 356,827.00 0
Common Shares Outstanding 49,245.59 53,625.44 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 1,155,495.00 1,105,432.00 1,058,105.00 927,740.00 913,219.00
Cost Of Revenue 516,292.00 502,188.00 505,389.00 443,195.00 428,065.00
Gross Profit 639,203.00 603,244.00 552,716.00 484,545.00 485,154.00
Operating Expenses 909,709.00 558,539.00 581,201.00 459,639.00 447,911.00
   Selling, General and Administrative Expenses 340,222.00 402,096.00 421,363.00 332,576.00 344,614.00
   Research and Development Expenses 160,586.00 153,304.00 156,913.00 124,573.00 100,146.00
   Other Operating Expenses 408,901.00 3,139.00 2,925.00 2,490.00 3,151.00
Operating Income -270,506.00 44,705.00 -28,485.00 24,906.00 37,243.00
Net Non-Operating Income -41,085.00 -27,061.00 -27,090.00 -17,823.00 -15,629.00
Interest Income 65,480.00 48,743.00 37,549.00 22,109.00 18,947.00
Interest Expense 55,634.00 39,922.00 35,803.00 21,717.00 17,287.00
Net Interest 9,846.00 8,821.00 1,746.00 392.00 1,660.00
EBT -311,591.00 17,644.00 -55,575.00 7,083.00 21,614.00
Income Tax 28,419.00 15,824.00 8,679.00 412.00 13,897.00
Net Income -283,172.00 1,820.00 -45,407.00 5,698.00 7,717.00
EBIT -255,957.00 57,566.00 -19,772.00 28,800.00 38,901.00
Deprecation and Amortization 121,665.00 109,487.00 102,369.00 82,410.00 92,735.00
EBITDA -134,292.00 167,053.00 82,597.00 111,210.00 131,636.00
EPS -0.01 0.00 -0.00 0.00 0.00
Diluted EPS -0.01 0.00 -0.00 0.00 0.00
Average Shares Outstanding Basic 50,560.54 52,546.41 51,569.15 47,412.31 48,184.71
Average Shares Outstanding Diluted 50,560.54 53,721.34 51,569.15 48,230.44 48,696.34
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 295,968.00 199,634.00 203,893.00 213,661.00 147,955.00
   Operating Net Income -283,172.00 1,820.00 -45,407.00 5,698.00 7,717.00
   Deprecation and Amortization 121,665.00 109,487.00 102,369.00 82,410.00 92,735.00
   Deferred Income Tax -85,011.00 -24,368.00 -26,644.00 -2,429.00 8,837.00
   Share Based Compensation 104,968.00 127,762.00 110,294.00 120,379.00 87,257.00
   Change in Working Capital 33,863.00 3,910.00 51,561.00 -7,717.00 -16,328.00
   Other Operating Activities 403,655.00 -18,977.00 11,720.00 15,320.00 -32,263.00
Investing Cash Flow -73,408.00 -64,391.00 -85,549.00 -471,273.00 -71,847.00
   Capital Expenditure -67,200.00 -64,128.00 -71,063.00 -52,153.00 -71,847.00
   Net Purchase/Sale of PPE -67,200.00 -64,128.00 -71,063.00 -52,153.00 -71,847.00
   Net Purchase/Sale of Investments Net -5,029.00 -250.00 0 0 0
   Net Purchase/Sale of Business -1,179.00 -13.00 -14,486.00 -419,120.00 0
   Other Investing Activities 67,200.00 64,128.00 71,063.00 52,153.00 71,847.00
Financing Cash Flow -139,351.00 -142,965.00 -25,689.00 264,108.00 -10,679.00
   Net Issuance/Repayment of Debt 296,691.00 -81,395.00 -99,740.00 429,229.00 937.00
   Net Issuance/Repurchase of Equity 418,034.00 18,831.00 0 108,416.00 41,005.00
   Dividends Paid 0 0 0 0 5,960.00
   Other Financing Activities -854,076.00 -80,401.00 74,051.00 -273,537.00 -58,581.00
Net Change in Cash 81,255.00 -5,674.00 82,169.00 6,793.00 67,674.00
   Cash at Beginning of Period 728,257.00 733,931.00 651,762.00 644,969.00 577,295.00
   Cash at End of Period 809,512.00 728,257.00 733,931.00 651,762.00 644,969.00
Free Cash Flow 228,768.00 135,506.00 132,830.00 161,508.00 76,108.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 2,104,441.00 2,629,393.00 2,102,219.00 2,495,715.00 2,600,974.00 2,549,134.00 2,912,279.00 2,639,348.00 2,992,703.00 2,628,697.00 2,971,617.00 1,684,340.00 2,044,734.00
   Current Assets 638,835.00 1,153,969.00 627,452.00 976,308.00 655,558.00 577,084.00 929,757.00 579,322.00 918,643.00 507,112.00 850,971.00 465,284.00 819,060.00
      Cash and Short-Term Investments 38,255.00 41,566.00 461,165.00 811,482.00 34,633.00 386,398.00 728,610.00 390,290.00 734,180.00 315,429.00 652,739.00 283,856.00 645,290.00
            Cash and Cash Equivalents 38,255.00 41,566.00 456,643.00 809,512.00 34,633.00 382,869.00 728,257.00 388,154.00 733,931.00 313,380.00 651,762.00 282,911.00 644,969.00
            Short-Term Investments 0 0 4,522.00 1,970.00 0 3,529.00 353.00 2,136.00 249.00 2,049.00 977.00 945.00 321.00
      Net Receivables 86,557.00 150,933.00 78,105.00 83,539.00 105,331.00 96,097.00 101,862.00 100,253.00 102,809.00 91,770.00 102,726.00 83,333.00 95,404.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 514,023.00 961,470.00 88,182.00 81,287.00 515,594.00 94,589.00 99,285.00 88,779.00 81,654.00 99,913.00 95,506.00 98,095.00 78,366.00
   Non-Current Assets 1,465,606.00 1,475,424.00 1,474,767.00 1,519,407.00 1,945,416.00 1,972,050.00 1,982,522.00 2,060,026.00 2,074,060.00 2,121,585.00 2,120,646.00 1,219,056.00 1,225,674.00
      Property, Plant, Equipment Net 90,263.00 88,318.00 86,756.00 118,480.00 122,575.00 131,538.00 135,616.00 152,485.00 153,325.00 164,483.00 165,311.00 125,179.00 127,848.00
      Goodwill 1,056,656.00 1,057,927.00 1,054,290.00 1,052,506.00 1,056,882.00 1,053,130.00 1,053,738.00 1,051,652.00 1,050,272.00 1,056,794.00 1,058,640.00 637,113.00 635,854.00
      Intangible Assets 266,771.00 274,395.00 126,338.00 132,881.00 705,515.00 565,008.00 581,937.00 622,237.00 635,136.00 683,348.00 698,052.00 269,118.00 277,506.00
      Long-Term Investments 0 0 4,943.00 4,943.00 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 7,633.00 0 0 5,992.00 0 1,820.00 0 1,057.00 0 524.00
      Other Non-Current Assets 51,916.00 54,784.00 202,440.00 202,964.00 60,444.00 222,374.00 205,239.00 233,652.00 233,507.00 216,960.00 197,586.00 187,646.00 183,942.00
Liabilities 1,996,252.00 2,541,443.00 2,069,044.00 2,353,722.00 2,056,647.00 2,015,080.00 2,103,574.00 1,919,615.00 2,248,671.00 1,923,647.00 2,254,557.00 1,268,180.00 1,618,584.00
   Current Liabilities 929,382.00 1,380,057.00 863,898.00 1,252,097.00 962,205.00 862,627.00 1,197,137.00 863,863.00 1,230,642.00 758,932.00 1,109,632.00 646,134.00 1,013,404.00
      Payables and Expenses 511,132.00 946,937.00 46,435.00 50,810.00 526,821.00 48,863.00 25,184.00 46,528.00 42,559.00 39,490.00 22,067.00 35,274.00 27,836.00
            Account Payables 48,761.00 42,664.00 46,435.00 50,810.00 43,983.00 48,863.00 25,184.00 46,528.00 42,559.00 39,490.00 22,067.00 35,274.00 27,836.00
            Current Accrued Liabilities 18,870.00 18,873.00 0 0 48,745.00 0 0 0 0 0 0 0 0
      Short-Term Debt 24,200.00 24,009.00 23,350.00 23,875.00 23,830.00 19,302.00 19,259.00 19,136.00 18,802.00 18,116.00 18,697.00 12,875.00 12,840.00
      Other Current Liabilities 394,050.00 409,111.00 794,113.00 1,177,412.00 411,554.00 794,462.00 1,152,694.00 798,199.00 1,169,281.00 701,326.00 1,068,868.00 597,985.00 972,728.00
   Non-Current Liabilities 1,066,870.00 1,161,386.00 1,205,146.00 1,101,625.00 1,094,442.00 1,152,453.00 906,437.00 1,055,752.00 1,018,029.00 1,164,715.00 1,144,925.00 622,046.00 605,180.00
      Long-Term Debt 1,047,035.00 1,141,638.00 1,184,738.00 1,085,296.00 1,012,237.00 1,059,012.00 800,490.00 904,102.00 885,159.00 1,013,894.00 990,869.00 553,668.00 535,550.00
      Other Non-Current Liabilities 19,835.00 19,748.00 20,408.00 16,329.00 82,205.00 93,441.00 105,947.00 151,650.00 132,870.00 150,821.00 154,056.00 68,378.00 69,630.00
Equity 108,189.00 87,950.00 33,175.00 141,993.00 544,327.00 534,054.00 808,705.00 719,733.00 744,032.00 705,050.00 717,060.00 416,160.00 426,150.00
   Shareholders Equity 108,189.00 87,950.00 33,175.00 141,993.00 544,327.00 534,054.00 808,705.00 719,733.00 744,032.00 705,050.00 717,060.00 416,160.00 426,150.00
      Capital Stock 72.00 72.00 72.00 71.00 71.00 71.00 69.00 69.00 68.00 68.00 66.00 62.00 61.00
      Share Premium 1,369,807.00 1,347,234.00 1,319,562.00 1,291,442.00 1,227,198.00 1,184,338.00 1,203,012.00 1,105,189.00 1,075,264.00 993,223.00 968,927.00 574,958.00 544,963.00
      Retained Earnings -21,176.00 -53,456.00 -79,436.00 -84,303.00 246,461.00 204,115.00 198,869.00 182,348.00 197,049.00 232,049.00 242,456.00 236,560.00 236,714.00
      Treasury Shares 1,231,316.00 1,199,608.00 -1,198,721.00 -1,060,348.00 922,516.00 -855,692.00 -591,557.00 -568,277.00 -537,287.00 -535,585.00 -500,911.00 -399,583.00 -353,091.00
      Accumulated Other Comprehensive Income -9,198.00 -6,292.00 -8,302.00 -4,869.00 -6,887.00 1,222.00 -1,688.00 404.00 8,938.00 15,295.00 6,522.00 4,163.00 -2,497.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 4,522.00 1,970.00 0 3,529.00 353.00 2,136.00 249.00 2,049.00 977.00 945.00 321.00
Debt 1,071,235.00 1,165,647.00 1,208,088.00 1,109,171.00 1,036,067.00 1,078,314.00 819,749.00 923,238.00 903,961.00 1,032,010.00 1,009,566.00 566,543.00 548,390.00
Net Debt 1,026,363.00 1,117,112.00 746,923.00 297,689.00 966,216.00 691,916.00 91,139.00 532,948.00 169,781.00 716,581.00 356,827.00 282,687.00 0
Common Shares Outstanding 48,057.97 48,506.64 48,515.32 49,245.59 50,869.22 51,624.24 53,625.44 0 0 0 0 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 281,143.00 281,382.00 270,661.00 286,727.00 279,250.00 261,753.00 257,124.00 219,191.00
Cost Of Revenue 113,653.00 113,633.00 114,815.00 127,517.00 126,206.00 123,112.00 123,362.00 103,385.00
Interest Income 2,371.00 1,968.00 18,600.00 3,118.00 12,324.00 11,898.00 0 5,266.00
Interest Expense 16,774.00 18,411.00 16,945.00 14,140.00 10,276.00 10,662.00 7,957.00 5,114.00
Net Interest 0 0 1,655.00 0 2,048.00 1,236.00 0 152.00
Non-Interest Expense 75,149.00 76,902.00 0 75,099.00 0 0 0 0
Gross Profit 167,490.00 167,749.00 155,846.00 159,210.00 153,044.00 138,641.00 133,762.00 115,806.00
Operating Expenses 112,917.00 111,063.00 135,416.00 115,385.00 142,325.00 148,588.00 139,741.00 109,162.00
   Selling, General and Administrative Expenses 75,149.00 76,902.00 101,323.00 75,099.00 98,619.00 107,223.00 98,978.00 79,380.00
   Research and Development Expenses 37,198.00 33,595.00 33,559.00 39,368.00 42,802.00 40,591.00 39,952.00 29,179.00
   Other Operating Expenses 0 0 534.00 0 904.00 774.00 811.00 603.00
Operating Income 54,573.00 56,686.00 20,430.00 43,825.00 10,719.00 -9,947.00 -5,979.00 6,644.00
Net Non-Operating Income 610.00 1,172.00 -14,840.00 1,194.00 -6,929.00 -8,655.00 -6,478.00 -6,124.00
EBT 41,044.00 39,393.00 5,590.00 32,682.00 3,790.00 -18,602.00 -12,457.00 520.00
Income Tax -6,448.00 13,413.00 723.00 12,140.00 1,456.00 2,680.00 2,144.00 684.00
Net Income Including Non-Controlling Interests 47,492.00 25,980.00 0 20,542.00 0 0 0 0
Net Income 47,492.00 25,980.00 4,867.00 20,542.00 5,246.00 -14,701.00 -10,407.00 -164.00
EBIT 57,818.00 57,804.00 22,535.00 46,822.00 14,066.00 -7,940.00 -4,500.00 5,634.00
Deprecation and Amortization 21,306.00 21,699.00 21,647.00 31,065.00 30,095.00 27,272.00 25,545.00 20,461.00
EBITDA 79,124.00 79,503.00 44,182.00 77,887.00 44,161.00 19,332.00 21,045.00 26,095.00
EPS 0.00 0.00 0.00 0.00 0.00 -0.00 -0.00 0
Diluted EPS 0.00 0.00 0.00 0.00 0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 47,680.00 47,784.06 48,429.06 50,409.29 52,052.37 52,133.00 51,199.72 47,363.20
Average Shares Outstanding Diluted 48,498.29 48,248.06 49,445.08 51,632.57 53,414.50 52,133.00 51,199.72 47,363.20
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 139,211.00 66,941.00 1,388.00 103,951.00 64,619.00 21,806.00 24,504.00 30,103.00
   Operating Net Income 47,434.00 25,980.00 4,867.00 20,542.00 5,246.00 -14,701.00 -10,407.00 -164.00
   Deprecation and Amortization 21,306.00 21,699.00 21,647.00 31,065.00 30,095.00 27,272.00 25,545.00 20,461.00
   Deferred Income Tax -16,029.00 -432.00 -221.00 -2,966.00 -12,239.00 9,245.00 -7,431.00 -1,142.00
   Share Based Compensation 21,657.00 27,252.00 22,170.00 18,574.00 33,570.00 29,925.00 27,860.00 30,005.00
   Change in Working Capital 64,014.00 -11,174.00 -34,971.00 34,732.00 -2,180.00 -15,811.00 -3.00 -22,221.00
   Other Operating Activities 829.00 3,616.00 -12,104.00 2,004.00 10,127.00 -14,124.00 -11,060.00 3,164.00
Investing Cash Flow -15,975.00 -15,440.00 -25,893.00 -15,607.00 -14,510.00 -15,331.00 -36,934.00 -12,772.00
   Capital Expenditure -12,481.00 -14,817.00 -13,658.00 -14,490.00 -13,331.00 -15,331.00 -16,949.00 -12,772.00
   Net Purchase/Sale of PPE -3,494.00 -623.00 -13,658.00 -1,117.00 -13,331.00 -15,331.00 -16,949.00 -12,772.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 -19,985.00 0
   Other Investing Activities 0.00 0.00 1,423.00 0.00 12,152.00 15,331.00 16,949.00 12,772.00
Financing Cash Flow -576,166.00 398,126.00 -330,032.00 -460,774.00 -394,637.00 -353,238.00 -325,448.00 -379,619.00
   Net Issuance/Repayment of Debt -94,556.00 -46,043.00 130,677.00 -21,712.00 260,457.00 17,197.00 25,635.00 21,033.00
   Net Issuance/Repurchase of Equity -30,133.00 -3,175.00 100,030.00 -62,812.00 262,596.00 0 0 28,066.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities -451,477.00 447,344.00 -560,739.00 -376,250.00 -917,690.00 -370,435.00 -351,083.00 -428,718.00
Net Change in Cash -452,930.00 449,627.00 -352,869.00 -372,430.00 -345,388.00 -345,777.00 -338,382.00 -362,058.00
   Cash at Beginning of Period 911,814.00 456,643.00 809,512.00 831,108.00 728,257.00 733,931.00 651,762.00 644,969.00
   Cash at End of Period 457,440.00 911,814.00 456,643.00 462,728.00 382,869.00 388,154.00 313,380.00 282,911.00
Free Cash Flow 123,236.00 51,501.00 -12,270.00 88,344.00 51,288.00 6,475.00 7,555.00 17,331.00