CBRE

Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 41.55 29.09 17.65 19.80
Price to Sales 1.12 0.90 0.81 1.31
Book Value Per Common Share 27.85 27.11 25.25 25.62 21.09
Price to Book 4.71 3.43 3.05 4.24
Price to Operating Cash Flow 23.51 59.81 15.25 15.39
Price to Free Cash Flow
Enterprise Value to EBITDA 128839.59 95899.58 74469.96 96169.40
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 63.53 111.21 242.19 79.29 106.08 237.17 45.04 79.13 191.61 16.59 27.47 77.56 28.55 40.63 100.14
Price to Sales 1.63 2.25 4.41 1.50 1.67 3.75 0.99 1.66 3.05 0.97 1.60 4.14 1.70 2.32 4.47
Book Value Per Common Share 28.68 27.74 27.65 27.85 28.40 27.27 26.91 27.11 25.21 26.05 25.29 25.25 25.03 25.26 25.70 25.62 23.79 22.88 21.52 21.09
Price to Book 5.49 5.05 4.73 4.71 4.38 3.27 3.61 3.43 2.93 3.10 2.88 3.05 2.70 2.91 3.56 4.24 4.09 3.75 3.68
Price to Operating Cash Flow 139.19 -85.71 -71.92 103.60 -133.14 -60.44 -61.26 -33.18 -30.35 26.99 397.25 -77.20 27.23 126.74 -137.34
Price to Free Cash Flow
Enterprise Value to EBITDA 193656.98 283025.50 563741.81 303044.54 386231.35 952098.54 184382.43 312883.37 659708.32 101811.86 176169.64 544042.84 172297.53 242414.58 556550.15

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -1.25 -26.61 -20.44 144.64
Revenue YoY 11.95 3.64 11.11 16.45
EBITDA YoY 4.00 -7.92 -14.42 62.63
Net Profit YoY -1.83 -29.94 -23.37 144.23
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 96.83 133.33 86.90 104.88 60.78 168.42 51.87 127.12 61.61 167.09
Revenue YoY 54.96 109.46 55.35 105.75 52.00 104.17 49.85 105.98 54.84 108.75
EBITDA YoY 64.36 111.94 -13.17 77.77 125.55 -47.21 52.23 133.79 56.20 142.78 176.87 59.27 148.64
Net Profit YoY 96.03 131.90 55.24 87.89 103.17 200.26 59.87 172.30 50.78 124.22 61.47 166.28

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 3.99 4.45 4.35 7.58 6.08
Quick Ratio 0.65 0.76 0.64 0.67 0.62
Current Ratio 1.09 1.83 1.66 1.49 1.49
Debt to Equity 0.83 0.76 0.67 0.70 0.70
Long-Term Debt to Equity 0.54 0.53 0.43 0.37 0.35
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 6.06 5.12 5.04 4.04 3.78 3.37 3.69 4.50 4.37 4.37 4.25 4.52 3.76 4.05 5.40 7.63 8.57 6.72 5.96 6.08
Quick Ratio 0.84 0.83 0.76 0.65 0.83 0.85 0.89 0.76 0.90 0.85 0.78 0.64 0.79 0.85 0.88 0.67 0.98 1.04 1.08 0.62
Current Ratio 1.13 1.13 1.00 1.09 1.13 1.12 1.15 1.83 1.19 1.16 1.04 1.66 1.11 1.16 1.20 1.49 1.36 1.39 1.37 1.49
Debt to Equity 2.07 2.08 1.93 0.83 1.60 1.55 1.52 0.76 1.56 1.44 1.43 0.67 1.34 1.30 1.28 0.70 1.35 1.27 1.25 0.70
Long-Term Debt to Equity 0.87 0.90 0.72 0.54 0.61 0.61 0.62 0.53 0.63 0.53 0.42 0.43 0.44 0.44 0.44 0.37 0.46 0.48 0.50 0.35

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 1.21 1.31 1.87 3.05 1.52
ROE 2.22 2.30 3.12 5.17 2.60
Gross Margin -141.66 19.64 21.37 22.22 20.06
Operating Margin 4.01 4.46 5.60 8.86 4.36
EBITDA Margin 8.61 9.26 10.43 13.54 9.69
Net Profit Margin 2.71 3.09 4.57 6.62 3.16
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 2.59 1.37 0.62 1.94 1.09 0.55 2.35 1.46 0.56 6.56 4.30 1.86 5.80 3.84 1.54
ROE 7.97 4.20 1.81 5.03 2.79 1.38 6.01 3.58 1.35 15.35 9.89 4.23 13.62 8.73 3.48
Gross Margin 18.71 -144.45 -144.61 19.09 18.73 18.40 19.20 19.46 18.95 21.62 21.84 21.56 21.88 21.47 20.53
Operating Margin 4.11 3.49 3.29 3.00 2.38 1.96 3.29 3.21 2.45 7.29 6.85 5.53 7.96 7.63 5.98
EBITDA Margin 8.37 7.89 7.80 4.96 4.33 3.95 5.31 5.30 4.63 9.29 8.91 7.56 9.85 9.58 8.04
Net Profit Margin 2.56 2.03 1.83 1.90 1.57 1.59 2.21 2.10 1.58 5.86 5.82 5.35 5.96 5.72 4.48

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 79,787,000.00 75,548,000.00 75,173,405.00 60,256,817.00 49,359,827.00
   Current Assets 13,774,000.00 18,550,000.00 17,572,367.00 17,209,963.00 15,354,349.00
      Cash and Short-Term Investments 1,221,000.00 1,371,000.00 1,404,849.00 2,539,781.00 2,039,247.00
            Cash and Cash Equivalents 1,221,000.00 1,371,000.00 1,404,849.00 2,539,781.00 2,039,247.00
            Short-Term Investments 0 0 0 0 0
      Net Receivables 7,005,000.00 6,370,000.00 5,326,807.00 5,150,473.00 4,394,954.00
      Inventory 0 0 0 0 0
      Other Current Assets 5,548,000.00 10,809,000.00 10,840,711.00 9,519,709.00 8,920,148.00
   Non-Current Assets 66,013,000.00 56,998,000.00 57,601,038.00 43,046,854.00 34,005,478.00
      Property, Plant, Equipment Net 2,112,000.00 1,937,000.00 1,869,052.00 1,875,339.00 1,848,231.00
      Goodwill 11,372,000.00 10,457,000.00 4,868,382.00 10,433,655.00 8,086,523.00
      Intangible Assets 2,298,000.00 2,081,000.00 2,192,706.00 2,421,989.00 1,380,475.00
      Long-Term Investments 2,705,000.00 2,972,000.00 2,855,034.00 2,760,544.00 452,365.00
      Non-Current Deferred Assets 538,000.00 361,000.00 265,554.00 157,032.00 91,529.00
      Other Non-Current Assets 46,988,000.00 39,190,000.00 45,550,310.00 25,398,295.00 22,146,355.00
Liabilities 36,270,000.00 32,674,000.00 30,111,382.00 24,718,358.00 20,393,970.00
   Current Liabilities 12,665,000.00 10,148,000.00 10,588,009.00 11,547,074.00 10,308,118.00
      Payables and Expenses 3,323,000.00 3,232,000.00 3,334,572.00 3,479,916.00 2,529,061.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 3,323,000.00 3,232,000.00 3,334,572.00 3,479,916.00 2,529,061.00
      Short-Term Debt 544,000.00 577,200.00 1,488,197.00 265,091.00 215,370.00
      Other Current Liabilities 8,798,000.00 6,338,800.00 5,765,240.00 7,802,067.00 7,563,687.00
   Non-Current Liabilities 23,605,000.00 22,526,000.00 19,523,373.00 13,171,284.00 10,085,852.00
      Long-Term Debt 4,552,000.00 3,893,000.00 2,166,097.00 2,654,685.00 2,496,997.00
      Other Non-Current Liabilities 19,053,000.00 18,633,000.00 17,357,276.00 10,516,599.00 7,588,855.00
Equity 43,517,000.00 42,874,000.00 45,062,023.00 35,538,459.00 28,965,857.00
   Shareholders Equity 8,411,000.00 8,267,000.00 7,853,273.00 8,528,193.00 7,078,326.00
      Capital Stock 3,000.00 3,000.00 3,110.00 3,329.00 3,356.00
      Share Premium 0 0 0 798,892.00 1,074,639.00
      Retained Earnings 9,567,000.00 9,188,000.00 8,832,943.00 8,366,631.00 6,530,057.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -1,159,000.00 -924,000.00 -982,780.00 -640,659.00 -529,726.00
   Minority Interest 781,000.00 800,000.00 752,459.00 830,924.00 41,761.00
Investments 2,705,000.00 2,972,000.00 2,855,034.00 2,760,544.00 452,365.00
Debt 5,096,000.00 4,470,200.00 3,654,294.00 2,919,776.00 2,712,367.00
Net Debt 3,875,000.00 3,099,200.00 2,249,445.00 379,995.00 673,120.00
Common Shares Outstanding 302,052.23 304,889.14 311,014.16 332,875.96 335,561.34
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 35,767,000.00 31,949,000.00 30,828,246.00 27,746,036.00 23,826,195.00
Cost Of Revenue 86,433,000.00 25,675,000.00 24,239,488.00 21,579,507.00 19,047,620.00
Gross Profit -50,666,000.00 6,274,000.00 6,588,758.00 6,166,529.00 4,778,575.00
Operating Expenses -57,253,000.00 -429,000.00 -2,156,063.00 -2,270,827.00 3,808,816.00
   Selling, General and Administrative Expenses 82,000.00 74,400.00 85,100.00 68,900.00 57,200.00
   Other Operating Expenses -57,335,000.00 -503,400.00 -2,241,163.00 -2,339,727.00 3,751,616.00
Operating Income 6,587,000.00 6,703,000.00 8,744,821.00 8,437,356.00 969,759.00
Net Non-Operating Income -5,369,000.00 -5,426,000.00 -7,086,631.00 -6,028,435.00 210.00
Interest Expense 215,000.00 149,000.00 68,999.00 50,352.00 67,753.00
Net Interest -215,000.00 -149,000.00 -68,999.00 -50,352.00 -67,753.00
EBT 1,218,000.00 1,277,000.00 1,658,190.00 2,408,921.00 969,969.00
Income Tax 182,000.00 250,000.00 234,230.00 567,506.00 214,101.00
Equity Method Investments Income -191,000.00 248,000.00 228,998.00 618,697.00 126,161.00
Net Income Including Non-Controlling Interests 900,000.00 945,000.00 1,390,780.00 1,831,233.00 748,110.00
Net Income Non-Controlling Interests 68,000.00 41,000.00 16,590.00 5,341.00 3,879.00
Net Income 968,000.00 986,000.00 1,407,370.00 1,836,574.00 751,989.00
EBIT 1,433,000.00 1,426,000.00 1,727,189.00 2,459,273.00 1,037,722.00
Deprecation and Amortization 1,645,000.00 1,533,600.00 1,486,976.00 1,296,642.00 1,271,756.00
EBITDA 3,078,000.00 2,959,600.00 3,214,165.00 3,755,915.00 2,309,478.00
EPS 0.00 0.00 0.00 0.01 0.00
Diluted EPS 0.00 0.00 0.00 0.01 0.00
Average Shares Outstanding Basic 305,859.46 308,430.08 322,813.34 335,232.84 335,196.30
Average Shares Outstanding Diluted 308,033.61 312,550.94 327,696.11 339,717.40 338,392.21
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 1,708,000.00 480,000.00 1,629,088.00 2,364,178.00 1,830,779.00
   Operating Net Income 2,460,000.00 2,814,000.00 6,950,249.00 6,943,881.00 1,994,960.00
   Deprecation and Amortization 1,645,000.00 1,533,600.00 1,486,976.00 1,296,642.00 1,271,756.00
   Deferred Income Tax -194,000.00 -121,000.00 -410,775.00 -60,950.00 0
   Share Based Compensation 146,000.00 96,000.00 160,325.00 184,934.00 60,391.00
   Change in Working Capital 973,000.00 83,000.00 414,701.00 703,936.00 -179,663.00
   Other Operating Activities -3,322,000.00 -3,925,600.00 -6,972,388.00 -6,704,265.00 -1,316,665.00
Investing Cash Flow -1,514,000.00 -681,000.00 -832,455.00 -1,280,897.00 -341,585.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 307,000.00 305,000.00 260,140.00 209,851.00 266,575.00
   Net Purchase/Sale of Investments Net -59,000.00 6,000.00 19.00 23,587.00 -10,516.00
   Net Purchase/Sale of Business 136,000.00 127,000.00 485,884.00 334,544.00 146,409.00
   Other Investing Activities -1,898,000.00 -1,119,000.00 -1,578,498.00 -1,848,879.00 -744,053.00
Financing Cash Flow -221,000.00 154,000.00 -1,766,093.00 -490,631.00 -625,256.00
   Net Issuance/Repayment of Debt 8,884,000.00 9,165,000.00 3,488,000.00 518,854.00 2,170,994.00
   Net Issuance/Repurchase of Equity 627,000.00 665,000.00 1,850,318.00 368,603.00 50,028.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -9,732,000.00 -9,676,000.00 -7,104,411.00 -1,378,088.00 -2,846,278.00
Net Change in Cash -150,000.00 -34,000.00 -1,134,932.00 500,534.00 945,502.00
   Cash at Beginning of Period 1,371,000.00 1,405,000.00 2,539,781.00 2,039,247.00 1,093,745.00
   Cash at End of Period 1,221,000.00 1,371,000.00 1,404,849.00 2,539,781.00 2,039,247.00
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 28,566,000.00 27,693,000.00 26,366,000.00 79,787,000.00 24,845,000.00 23,462,000.00 22,964,000.00 75,548,000.00 21,687,417.00 21,732,067.00 21,030,097.00 75,173,405.00 20,215,330.00 20,438,672.00 21,143,152.00 60,256,817.00 19,730,360.00 18,458,352.00 17,248,728.00 49,359,827.00
   Current Assets 12,573,000.00 11,960,000.00 10,831,000.00 13,774,000.00 10,616,000.00 9,653,000.00 9,444,000.00 18,550,000.00 9,326,612.00 9,469,708.00 9,046,400.00 17,572,367.00 8,589,957.00 8,872,216.00 9,333,547.00 17,209,963.00 10,075,428.00 8,886,889.00 7,906,291.00 15,354,349.00
      Cash and Short-Term Investments 1,809,000.00 1,532,000.00 1,513,000.00 1,221,000.00 1,157,000.00 1,033,000.00 1,127,000.00 1,371,000.00 1,353,064.00 1,357,326.00 1,319,789.00 1,404,849.00 1,223,051.00 1,330,716.00 1,792,629.00 2,539,781.00 2,876,122.00 2,256,809.00 2,001,707.00 2,039,247.00
            Cash and Cash Equivalents 1,809,000.00 1,532,000.00 1,513,000.00 1,221,000.00 1,157,000.00 1,033,000.00 1,127,000.00 1,371,000.00 1,353,064.00 1,357,326.00 1,319,789.00 1,404,849.00 1,223,051.00 1,330,716.00 1,792,629.00 2,539,781.00 2,876,122.00 2,256,809.00 2,001,707.00 2,039,247.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 7,562,000.00 7,319,000.00 6,753,000.00 7,005,000.00 6,705,000.00 6,304,000.00 6,172,000.00 6,370,000.00 5,707,977.00 5,552,692.00 5,468,926.00 5,326,807.00 4,936,146.00 5,122,787.00 5,073,224.00 5,150,473.00 4,445,790.00 4,426,189.00 4,232,561.00 4,394,954.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 3,202,000.00 3,109,000.00 2,565,000.00 5,548,000.00 2,754,000.00 2,316,000.00 2,145,000.00 10,809,000.00 2,265,571.00 2,559,690.00 2,257,685.00 10,840,711.00 2,430,760.00 2,418,713.00 2,467,694.00 9,519,709.00 2,753,516.00 2,203,891.00 1,672,023.00 8,920,148.00
   Non-Current Assets 15,993,000.00 15,733,000.00 15,535,000.00 66,013,000.00 14,229,000.00 13,809,000.00 13,520,000.00 56,998,000.00 12,360,805.00 12,262,359.00 11,983,697.00 57,601,038.00 11,625,373.00 11,566,456.00 11,809,605.00 43,046,854.00 9,654,932.00 9,571,463.00 9,342,437.00 34,005,478.00
      Property, Plant, Equipment Net 2,988,000.00 2,958,000.00 2,831,000.00 2,112,000.00 2,058,000.00 1,927,000.00 1,903,000.00 1,937,000.00 1,850,472.00 1,832,634.00 1,814,010.00 1,869,052.00 1,761,276.00 1,818,768.00 1,823,126.00 1,875,339.00 1,695,981.00 1,743,554.00 1,775,030.00 1,848,231.00
      Goodwill 6,420,000.00 6,410,000.00 6,260,000.00 11,372,000.00 5,892,000.00 5,785,000.00 5,554,000.00 10,457,000.00 4,961,501.00 5,043,708.00 4,933,818.00 4,868,382.00 4,660,638.00 4,794,847.00 4,977,082.00 10,433,655.00 3,874,743.00 3,892,134.00 3,804,678.00 8,086,523.00
      Intangible Assets 2,430,000.00 2,485,000.00 2,497,000.00 2,298,000.00 2,372,000.00 2,385,000.00 2,298,000.00 2,081,000.00 2,064,321.00 2,129,915.00 2,152,939.00 2,192,706.00 2,146,468.00 2,256,613.00 2,338,548.00 2,421,989.00 1,345,646.00 1,345,143.00 1,370,484.00 1,380,475.00
      Long-Term Investments 870,000.00 858,000.00 2,100,000.00 2,705,000.00 2,755,000.00 2,730,000.00 2,741,000.00 2,972,000.00 2,800,472.00 2,788,434.00 2,769,552.00 2,855,034.00 3,314,465.00 2,612,284.00 2,500,119.00 2,760,544.00 845,621.00 747,608.00 682,559.00 452,365.00
      Non-Current Deferred Assets 692,000.00 656,000.00 556,000.00 538,000.00 392,000.00 338,000.00 353,000.00 361,000.00 332,424.00 306,430.00 274,843.00 265,554.00 155,945.00 157,997.00 142,748.00 157,032.00 83,263.00 93,337.00 90,320.00 91,529.00
      Other Non-Current Assets 2,593,000.00 2,366,000.00 1,291,000.00 46,988,000.00 760,000.00 644,000.00 671,000.00 39,190,000.00 351,615.00 161,238.00 38,535.00 45,550,310.00 -413,419.00 -74,053.00 27,982.00 25,398,295.00 1,809,678.00 1,749,687.00 1,619,366.00 22,146,355.00
Liabilities 19,273,000.00 18,700,000.00 17,362,000.00 36,270,000.00 15,289,000.00 14,273,000.00 13,865,000.00 32,674,000.00 13,226,528.00 12,838,430.00 12,387,687.00 30,111,382.00 11,575,686.00 11,543,688.00 11,860,327.00 24,718,358.00 11,329,681.00 10,335,165.00 9,592,945.00 20,393,970.00
   Current Liabilities 11,152,000.00 10,623,000.00 10,868,000.00 12,665,000.00 9,430,000.00 8,629,000.00 8,233,000.00 10,148,000.00 7,866,644.00 8,153,040.00 8,717,462.00 10,588,009.00 7,755,653.00 7,623,793.00 7,789,844.00 11,547,074.00 7,435,554.00 6,397,981.00 5,772,803.00 10,308,118.00
      Payables and Expenses 2,878,000.00 2,579,000.00 2,410,000.00 3,323,000.00 2,539,000.00 2,332,000.00 2,358,000.00 3,232,000.00 2,627,971.00 2,548,219.00 2,535,955.00 3,334,572.00 2,820,969.00 2,739,195.00 2,754,284.00 3,479,916.00 2,822,676.00 2,256,627.00 2,074,876.00 2,529,061.00
            Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 2,878,000.00 2,579,000.00 2,410,000.00 3,323,000.00 2,539,000.00 2,332,000.00 2,358,000.00 3,232,000.00 2,627,971.00 2,548,219.00 2,535,955.00 3,334,572.00 2,820,969.00 2,739,195.00 2,754,284.00 3,479,916.00 2,822,676.00 2,256,627.00 2,074,876.00 2,529,061.00
      Short-Term Debt 348,000.00 353,000.00 940,000.00 544,000.00 1,937,000.00 2,459,000.00 2,215,000.00 577,200.00 3,561,613.00 3,254,662.00 4,309,345.00 1,488,197.00 2,474,657.00 2,672,597.00 2,510,807.00 265,091.00 233,732.00 223,621.00 213,599.00 215,370.00
      Other Current Liabilities 7,926,000.00 7,691,000.00 7,518,000.00 8,798,000.00 4,954,000.00 3,838,000.00 3,660,000.00 6,338,800.00 1,677,060.00 2,350,159.00 1,872,162.00 5,765,240.00 2,460,027.00 2,212,001.00 2,524,753.00 7,802,067.00 4,379,146.00 3,917,733.00 3,484,328.00 7,563,687.00
   Non-Current Liabilities 8,121,000.00 8,077,000.00 6,494,000.00 23,605,000.00 5,859,000.00 5,644,000.00 5,632,000.00 22,526,000.00 5,359,884.00 4,685,390.00 3,670,225.00 19,523,373.00 3,820,033.00 3,919,895.00 4,070,483.00 13,171,284.00 3,894,127.00 3,937,184.00 3,820,142.00 10,085,852.00
      Long-Term Debt 6,419,000.00 6,393,000.00 5,147,000.00 4,552,000.00 4,482,000.00 4,363,000.00 4,337,000.00 3,893,000.00 3,855,486.00 3,111,138.00 2,139,091.00 2,166,097.00 2,542,744.00 2,598,541.00 2,631,024.00 2,654,685.00 2,872,780.00 2,925,826.00 2,939,086.00 2,496,997.00
      Other Non-Current Liabilities 1,702,000.00 1,684,000.00 1,347,000.00 19,053,000.00 1,377,000.00 1,281,000.00 1,295,000.00 18,633,000.00 1,504,398.00 1,574,252.00 1,531,134.00 17,357,276.00 1,277,289.00 1,321,354.00 1,439,459.00 10,516,599.00 1,021,347.00 1,011,358.00 881,056.00 7,588,855.00
Equity 9,293,000.00 8,993,000.00 9,004,000.00 43,517,000.00 9,556,000.00 9,189,000.00 9,099,000.00 42,874,000.00 8,460,889.00 8,893,637.00 8,642,410.00 45,062,023.00 8,639,644.00 8,894,984.00 9,282,825.00 35,538,459.00 8,400,679.00 8,123,187.00 7,655,783.00 28,965,857.00
   Shareholders Equity 8,535,000.00 8,253,000.00 8,282,000.00 8,411,000.00 8,692,000.00 8,356,000.00 8,261,000.00 8,267,000.00 7,684,016.00 8,098,058.00 7,859,834.00 7,853,273.00 7,935,827.00 8,136,010.00 8,469,971.00 8,528,193.00 7,962,593.00 7,679,521.00 7,230,370.00 7,078,326.00
      Capital Stock 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,048.00 3,109.00 3,108.00 3,110.00 3,171.00 3,221.00 3,296.00 3,329.00 3,346.00 3,357.00 3,359.00 3,356.00
      Share Premium 44,000.00 0 0 0 0 0 0 0 0 12,510.00 0 0 0 0 409,187.00 798,892.00 938,784.00 1,001,832.00 1,013,287.00 1,074,639.00
      Retained Earnings 9,768,000.00 9,393,000.00 9,386,000.00 9,567,000.00 9,584,000.00 9,384,000.00 9,263,000.00 9,188,000.00 8,724,653.00 9,011,227.00 8,809,824.00 8,832,943.00 9,155,739.00 9,084,358.00 8,758,928.00 8,366,631.00 7,674,639.00 7,238,896.00 6,796,259.00 6,530,057.00
      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 -1,280,000.00 -1,143,000.00 -1,107,000.00 -1,159,000.00 -895,000.00 -1,031,000.00 -1,005,000.00 -924,000.00 -1,043,685.00 -928,788.00 -953,098.00 -982,780.00 -1,223,083.00 -951,569.00 -701,440.00 -640,659.00 -654,176.00 -564,564.00 -582,535.00 -529,726.00
   Minority Interest 349,000.00 332,000.00 351,000.00 781,000.00 864,000.00 833,000.00 838,000.00 800,000.00 776,873.00 795,579.00 782,576.00 752,459.00 703,817.00 758,974.00 812,854.00 830,924.00 35,567.00 41,155.00 41,014.00 41,761.00
Investments 870,000.00 858,000.00 2,100,000.00 2,705,000.00 2,755,000.00 2,730,000.00 2,741,000.00 2,972,000.00 2,800,472.00 2,788,434.00 2,769,552.00 2,855,034.00 3,314,465.00 2,612,284.00 2,500,119.00 2,760,544.00 845,621.00 747,608.00 682,559.00 452,365.00
Debt 6,767,000.00 6,746,000.00 6,087,000.00 5,096,000.00 6,419,000.00 6,822,000.00 6,552,000.00 4,470,200.00 7,417,099.00 6,365,800.00 6,448,436.00 3,654,294.00 5,017,401.00 5,271,138.00 5,141,831.00 2,919,776.00 3,106,512.00 3,149,447.00 3,152,685.00 2,712,367.00
Net Debt 4,958,000.00 5,214,000.00 4,574,000.00 3,875,000.00 5,262,000.00 5,789,000.00 5,425,000.00 3,099,200.00 6,064,035.00 5,008,474.00 5,128,647.00 2,249,445.00 3,794,350.00 3,940,422.00 3,349,202.00 379,995.00 230,390.00 892,638.00 1,150,978.00 673,120.00
Common Shares Outstanding 297,561.94 297,524.52 299,584.02 302,052.23 306,010.39 306,473.35 306,949.27 304,889.14 304,750.28 310,876.43 310,786.16 311,014.16 317,055.30 322,117.76 329,555.40 332,875.96 334,642.58 335,706.82 335,918.17 335,561.34
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 28,921,000.00 18,663,000.00 8,910,000.00 -13,857,000.00 25,363,000.00 16,326,000.00 7,935,000.00 -13,592,116.00 22,999,025.00 15,130,977.00 7,411,114.00 -14,242,655.00 22,633,757.00 15,104,211.00 7,332,933.00 -9,786,154.00 19,195,819.00 12,397,492.00 5,938,879.00
Cost Of Revenue 23,511,000.00 45,621,000.00 21,795,000.00 46,169,000.00 20,521,000.00 13,268,000.00 6,475,000.00 -11,100,056.00 18,582,733.00 12,185,910.00 6,006,413.00 -11,059,552.00 17,740,668.00 11,806,178.00 5,752,194.00 -7,871,596.00 14,995,252.00 9,736,305.00 4,719,546.00
Gross Profit 5,410,000.00 -26,958,000.00 -12,885,000.00 -60,026,000.00 4,842,000.00 3,058,000.00 1,460,000.00 -2,492,060.00 4,416,292.00 2,945,067.00 1,404,701.00 -3,183,103.00 4,893,089.00 3,298,033.00 1,580,739.00 -1,914,558.00 4,200,567.00 2,661,187.00 1,219,333.00
Operating Expenses 197,000.00 -30,047,000.00 -14,281,000.00 -57,058,400.00 -259,000.00 39,100.00 25,300.00 2,806,095.00 -7,430.00 -967,498.00 -2,260,167.00 -7,904,089.00 2,879,174.00 1,938,758.00 930,094.00 -6,336,914.00 2,072,680.00 1,318,620.00 674,787.00
   Selling, General and Administrative Expenses 0 0 0 82,000.00 0 0 0 74,400.00 0 0 0 85,100.00 0 0 0 68,900.00 0 0 0
   Other Operating Expenses 197,000.00 -30,047,000.00 -14,281,000.00 -57,140,400.00 -259,000.00 39,100.00 25,300.00 2,731,695.00 -7,430.00 -967,498.00 -2,260,167.00 -7,989,189.00 2,879,174.00 1,938,758.00 930,094.00 -6,405,814.00 2,072,680.00 1,318,620.00 674,787.00
Operating Income 5,213,000.00 3,089,000.00 1,396,000.00 -2,967,600.00 5,101,000.00 3,018,900.00 1,434,700.00 -5,298,155.00 4,423,722.00 3,912,565.00 3,664,868.00 4,720,986.00 2,013,915.00 1,359,275.00 650,645.00 4,422,356.00 2,127,887.00 1,342,567.00 544,546.00
Net Non-Operating Income -4,183,000.00 -2,545,000.00 -1,153,000.00 3,180,000.00 -4,504,000.00 -2,729,800.00 -1,315,200.00 5,361,220.00 -3,777,560.00 -3,497,900.00 -3,511,760.00 -6,056,098.00 -416,357.00 -356,064.00 -258,112.00 -4,773,250.00 -635,567.00 -420,376.00 -199,242.00
Interest Expense 159,000.00 108,000.00 50,000.00 -83,000.00 163,000.00 99,000.00 36,000.00 -60,413.00 109,603.00 71,396.00 28,414.00 -26,472.00 51,301.00 31,344.00 12,826.00 -18,548.00 34,916.00 23,878.00 10,106.00
Net Interest -159,000.00 -108,000.00 -50,000.00 83,000.00 -163,000.00 -99,000.00 -36,000.00 60,413.00 -109,603.00 -71,396.00 -28,414.00 26,472.00 -51,301.00 -31,344.00 -12,826.00 18,548.00 -34,916.00 -23,878.00 -10,106.00
EBT 1,030,000.00 544,000.00 243,000.00 212,400.00 597,000.00 289,100.00 119,500.00 63,065.00 646,162.00 414,665.00 153,108.00 -1,335,112.00 1,597,558.00 1,003,211.00 392,533.00 -350,894.00 1,492,320.00 922,191.00 345,304.00
Income Tax 203,000.00 113,000.00 52,000.00 80,000.00 70,000.00 3,000.00 29,000.00 24,534.00 113,991.00 83,439.00 28,036.00 -146,223.00 259,691.00 117,024.00 3,738.00 -61,872.00 343,279.00 209,772.00 76,327.00
Equity Method Investments Income 150,000.00 -6,000.00 48,000.00 17,000.00 -77,000.00 -73,000.00 -58,000.00 -148,680.00 120,817.00 134,181.00 141,682.00 -371,923.00 396,011.00 162,039.00 42,871.00 -220,158.00 459,535.00 295,726.00 83,594.00
Net Income Including Non-Controlling Interests 655,000.00 325,000.00 135,000.00 147,000.00 427,000.00 222,000.00 104,000.00 45,397.00 485,527.00 305,364.00 108,712.00 -1,185,243.00 1,314,649.00 873,051.00 388,323.00 -277,576.00 1,140,123.00 705,259.00 263,427.00
Net Income Non-Controlling Interests 86,000.00 53,000.00 28,000.00 -42,000.00 54,000.00 34,000.00 22,000.00 -3,433.00 23,322.00 12,931.00 8,180.00 -5,561.00 11,609.00 6,568.00 3,974.00 -5,473.00 4,459.00 3,580.00 2,775.00
Net Income 741,000.00 378,000.00 163,000.00 105,000.00 481,000.00 256,000.00 126,000.00 41,964.00 508,849.00 318,295.00 116,892.00 -1,190,804.00 1,326,258.00 879,619.00 392,297.00 -283,049.00 1,144,582.00 708,839.00 266,202.00
EBIT 1,189,000.00 652,000.00 293,000.00 129,400.00 760,000.00 388,100.00 155,500.00 2,652.00 755,765.00 486,061.00 181,522.00 -1,361,584.00 1,648,859.00 1,034,555.00 405,359.00 -369,442.00 1,527,236.00 946,069.00 355,410.00
Deprecation and Amortization 1,232,000.00 821,000.00 402,000.00 671,000.00 497,000.00 319,000.00 158,000.00 591,193.00 465,038.00 315,878.00 161,491.00 573,026.00 453,527.00 311,391.00 149,032.00 569,674.00 363,727.00 241,163.00 122,078.00
EBITDA 2,421,000.00 1,473,000.00 695,000.00 800,400.00 1,257,000.00 707,100.00 313,500.00 593,845.00 1,220,803.00 801,939.00 343,013.00 -788,558.00 2,102,386.00 1,345,946.00 554,391.00 200,232.00 1,890,963.00 1,187,232.00 477,488.00
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 298,589.34 299,113.47 300,288.60 305,083.48 306,269.26 306,276.87 305,808.21 302,876.93 309,716.46 310,662.32 310,464.61 304,930.19 325,705.50 328,692.59 331,925.10 333,698.00 335,621.34 335,751.53 335,860.49
Average Shares Outstanding Diluted 301,050.34 301,455.25 302,914.67 307,081.84 308,281.11 308,269.04 308,502.46 306,079.15 313,944.85 314,821.61 315,358.15 309,571.42 330,558.31 333,514.40 337,140.33 339,942.45 339,805.29 339,541.35 339,580.50
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 338,000.00 -489,000.00 -546,000.00 2,037,000.00 368,000.00 -205,000.00 -492,000.00 2,353,762.00 -373,380.00 -755,625.00 -744,757.00 1,146,870.00 814,809.00 60,916.00 -393,507.00 1,130,387.00 1,200,121.00 227,118.00 -193,448.00
   Operating Net Income 2,146,000.00 1,170,000.00 573,000.00 4,021,000.00 -165,000.00 -655,000.00 -741,000.00 -1,528,437.00 1,171,689.00 1,234,298.00 1,936,450.00 -6,584,631.00 6,565,036.00 4,724,455.00 2,245,389.00 -1,548,421.00 4,684,358.00 2,901,773.00 906,171.00
   Deprecation and Amortization 1,232,000.00 821,000.00 402,000.00 671,000.00 497,000.00 319,000.00 158,000.00 591,193.00 465,038.00 315,878.00 161,491.00 573,026.00 453,527.00 311,391.00 149,032.00 569,674.00 363,727.00 241,163.00 122,078.00
   Deferred Income Tax -69,000.00 -3,000.00 -3,000.00 -194,000.00 0 0 0 -121,000.00 0 0 0 -410,775.00 0 0 0 -60,950.00 0 0 0
   Share Based Compensation 110,000.00 63,000.00 21,000.00 -65,000.00 112,000.00 69,000.00 30,000.00 -33,925.00 73,016.00 38,796.00 18,113.00 160,325.00 0 0 0 184,934.00 0 0 0
   Change in Working Capital -222,000.00 -709,000.00 -1,051,000.00 2,779,000.00 -202,000.00 -656,000.00 -948,000.00 2,540,811.00 -700,952.00 -917,298.00 -839,561.00 1,991,496.00 -249,461.00 -569,311.00 -758,023.00 2,178,031.00 7,818.00 -723,137.00 -758,776.00
   Other Operating Activities -2,859,000.00 -1,831,000.00 -488,000.00 -5,175,000.00 126,000.00 718,000.00 1,009,000.00 905,120.00 -1,382,171.00 -1,427,299.00 -2,021,250.00 5,417,429.00 -5,954,293.00 -4,405,619.00 -2,029,905.00 -192,881.00 -3,855,782.00 -2,192,681.00 -462,921.00
Investing Cash Flow -664,000.00 -467,000.00 -462,000.00 2,187,000.00 -1,494,000.00 -1,307,000.00 -900,000.00 340,514.00 -537,129.00 -369,318.00 -115,067.00 195,857.00 -603,749.00 -328,942.00 -95,621.00 -187,096.00 -555,406.00 -344,491.00 -193,904.00
   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 222,000.00 138,000.00 64,000.00 -110,000.00 214,000.00 135,000.00 68,000.00 -101,563.00 211,267.00 135,012.00 60,284.00 -39,634.00 160,996.00 96,722.00 42,056.00 -17,099.00 121,409.00 75,944.00 29,597.00
   Net Purchase/Sale of Investments Net -222,000.00 -201,000.00 -22,000.00 50,000.00 -40,000.00 -53,000.00 -16,000.00 -50,145.00 30,465.00 29,754.00 -4,074.00 -19,608.00 6,783.00 8,357.00 4,487.00 -2,950.00 25,433.00 1,120.00 -16.00
   Net Purchase/Sale of Business 93,000.00 85,000.00 51,000.00 -75,000.00 110,000.00 73,000.00 28,000.00 -67,205.00 105,407.00 59,800.00 28,998.00 -201,554.00 422,559.00 220,492.00 44,387.00 -480,529.00 400,967.00 245,714.00 168,392.00
   Other Investing Activities -757,000.00 -489,000.00 -555,000.00 2,322,000.00 -1,778,000.00 -1,462,000.00 -980,000.00 559,427.00 -884,268.00 -593,884.00 -200,275.00 456,653.00 -1,194,087.00 -654,513.00 -186,551.00 313,482.00 -1,103,215.00 -667,269.00 -391,877.00
Financing Cash Flow 832,000.00 1,160,000.00 1,256,000.00 -3,582,000.00 927,000.00 1,242,000.00 1,192,000.00 -2,588,137.00 906,323.00 1,074,777.00 761,037.00 416,133.00 -1,212,721.00 -760,496.00 -209,009.00 -1,546,495.00 274,874.00 379,024.00 401,966.00
   Net Issuance/Repayment of Debt 1,042,000.00 1,314,000.00 1,553,000.00 -3,734,000.00 6,238,000.00 4,565,000.00 1,815,000.00 -8,258,506.00 8,152,253.00 6,982,253.00 2,289,000.00 2,685,000.00 283,000.00 310,000.00 210,000.00 -957,911.00 492,255.00 492,255.00 492,255.00
   Net Issuance/Repurchase of Equity 680,000.00 680,000.00 418,000.00 470,000.00 110,000.00 47,000.00 0 -240,485.00 645,869.00 129,808.00 129,808.00 -915,708.00 1,404,394.00 993,769.00 367,863.00 30,935.00 188,285.00 88,275.00 61,108.00
   Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
   Other Financing Activities -890,000.00 -834,000.00 -715,000.00 -318,000.00 -5,421,000.00 -3,370,000.00 -623,000.00 5,910,854.00 -7,891,799.00 -6,037,284.00 -1,657,771.00 -1,353,159.00 -2,900,115.00 -2,064,265.00 -786,872.00 -619,519.00 -405,666.00 -201,506.00 -151,397.00
Net Change in Cash 588,000.00 311,000.00 292,000.00 646,000.00 -214,000.00 -338,000.00 -244,000.00 150,368.00 -51,785.00 -47,523.00 -85,060.00 2,138,015.00 -1,316,730.00 -1,209,065.00 -747,152.00 -516,363.00 836,875.00 217,562.00 -37,540.00
   Cash at Beginning of Period 1,221,000.00 1,221,000.00 1,221,000.00 575,000.00 1,371,000.00 1,371,000.00 1,371,000.00 1,220,632.00 1,404,849.00 1,404,849.00 1,404,849.00 -733,166.00 2,539,781.00 2,539,781.00 2,539,781.00 3,056,144.00 2,039,247.00 2,039,247.00 2,039,247.00
   Cash at End of Period 1,809,000.00 1,532,000.00 1,513,000.00 1,221,000.00 1,157,000.00 1,033,000.00 1,127,000.00 1,371,000.00 1,353,064.00 1,357,326.00 1,319,789.00 1,404,849.00 1,223,051.00 1,330,716.00 1,792,629.00 2,539,781.00 2,876,122.00 2,256,809.00 2,001,707.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0