Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 13.80 6.25 4.11 4.17
Price to Sales 0.33 0.39 0.33 0.32
Book Value Per Common Share 52.19 59.96 54.13 41.33 34.20
Price to Book 2.67 2.47 2.15 1.55
Price to Operating Cash Flow 5.47 4.28 1.82 3.18
Price to Free Cash Flow
Enterprise Value to EBITDA 28375.02 33884.92 24143.28 28500.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31
Price to Earnings 23.62 45.02 -607.04 18.41 25.14 77.80 7.70 10.15 22.00 4.69 6.72 57.00 4.45 4.75 -144.57
Price to Sales 0.57 0.75 1.38 0.51 0.84 2.13 0.54 0.68 1.65 0.37 0.48 1.23 0.45 0.72 1.45
Book Value Per Common Share 55.69 53.80 52.38 54.56 60.07 63.50 61.87 59.80 60.49 49.82 47.92 42.50 43.85 44.43 33.17
Price to Book 3.46 3.09 2.78 2.99 2.89 3.17 2.45 1.95 2.23 1.99 1.72 2.01 1.41 1.36 1.61
Price to Operating Cash Flow 11.41 19.93 -712.42 8.75 12.90 47.48 4.87 6.24 14.76 2.19 2.38 19.19 9.42 10.82 48.43
Price to Free Cash Flow
Enterprise Value to EBITDA 46224.61 67587.67 149625.39 43113.08 103147.79 278612.14 43337.20 55713.00 123160.37 27392.04 38684.58 191297.45 39740.44 63141.52 129421.82

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY -57.40 -16.18 84.55
Revenue YoY -5.99 -15.71 46.10 67.52
EBITDA YoY -6.19 -27.80 73.39
Net Profit YoY -64.41 -33.31 49.07
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31
Earning YoY 121.14 28.26 166.41 71.11 87.44 73.04 716.00 9.36
Revenue YoY 53.14 106.80 49.78 115.38 57.30 104.02 49.87 140.18 61.28 129.05
EBITDA YoY 68.56 149.18 119.61 128.69 62.20 85.15 64.11 362.83 61.04 131.51
Net Profit YoY 119.97 25.37 161.69 66.26 81.72 66.64 695.03 8.39

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 13.91 27.70 23.45 8.37 0.88
Quick Ratio 0.73 1.09 1.22 0.91 0.43
Current Ratio 1.19 1.60 1.72 1.70 1.80
Debt to Equity 2.22 1.74 1.56 1.54 1.43
Long-Term Debt to Equity 1.29 1.05 0.95 0.99 1.02
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31
Cash Per Common Share 14.39 9.90 20.27 21.81 30.99 22.05 33.53 28.39 26.68 14.20 17.08 12.75 9.17 18.20 1.20
Quick Ratio 0.84 0.78 0.85 0.88 1.00 1.01 1.26 1.33 1.33 1.03 0.97 0.94 0.95 1.14 0.56
Current Ratio 1.32 1.23 1.19 1.23 1.31 1.43 1.67 1.84 1.90 1.66 1.49 1.45 2.02 1.98 1.89
Debt to Equity 2.48 2.37 2.54 2.10 2.03 1.87 1.74 1.65 1.59 1.66 1.87 1.91 1.48 1.57 1.50
Long-Term Debt to Equity 1.70 1.55 1.55 1.29 1.18 1.14 1.08 1.12 1.08 1.02 1.03 1.10 1.01 1.04 1.09

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 4.37 11.26 16.15 11.41 -10.20
ROE 14.06 30.83 41.37 29.00 -24.77
Gross Margin 12.85 16.56 17.03 5.96 -11.54
Operating Margin 4.69 9.42 11.74 3.44 -16.37
EBITDA Margin 11.54 11.57 13.50 11.38 -2.93
Net Profit Margin 2.38 6.28 7.94 7.78 -13.16
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 2021-03-31
ROA 3.02 1.46 -0.09 3.85 2.88 1.10 9.15 5.73 3.13 12.48 6.94 0.93 10.04 8.77 -0.25
ROE 10.52 4.91 -0.32 11.96 8.73 3.15 25.09 15.20 8.09 33.15 19.95 2.70 24.92 22.54 -0.62
Gross Margin 13.41 13.07 11.12 13.14 13.60 13.33 17.50 17.45 19.20 16.61 16.10 10.86 3.34 -1.98 -8.57
Operating Margin 5.35 4.22 2.08 5.13 5.86 5.22 10.42 9.96 11.20 11.81 10.63 4.36 2.86 2.17 0.92
EBITDA Margin 12.24 11.12 9.23 11.90 8.12 7.65 12.55 12.17 13.41 13.52 12.35 6.41 11.35 11.36 11.24
Net Profit Margin 2.40 1.67 -0.22 2.79 3.33 2.74 7.07 6.69 7.51 7.91 7.11 2.15 10.14 15.08 -1.01

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 2024-09-30 2024-06-30 2024-03-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-06-30 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 78,858,000.00 85,987,000.00 89,904,000.00 85,373,000.00 96,359,000.00
   Current Assets 27,134,000.00 34,741,000.00 37,053,000.00 31,729,000.00 29,585,000.00
      Cash and Short-Term Investments 4,729,000.00 11,272,000.00 12,008,000.00 5,304,000.00 570,000.00
            Cash and Cash Equivalents 4,729,000.00 6,491,000.00 8,863,000.00 5,304,000.00 570,000.00
            Short-Term Investments 0 4,781,000.00 3,145,000.00 0 0
      Net Receivables 11,876,000.00 12,455,000.00 14,224,000.00 11,694,000.00 6,455,000.00
      Inventory 9,748,000.00 9,476,000.00 8,975,000.00 8,197,000.00 8,555,000.00
      Other Current Assets 781,000.00 1,538,000.00 1,846,000.00 6,534,000.00 14,005,000.00
   Non-Current Assets 51,724,000.00 51,246,000.00 52,851,000.00 53,644,000.00 66,774,000.00
      Property, Plant, Equipment Net 90,783,000.00 90,985,000.00 91,659,000.00 96,562,000.00 69,356,000.00
      Goodwill 24,133,000.00 24,133,000.00 24,133,000.00 24,169,000.00 28,559,000.00
      Intangible Assets 4,389,000.00 4,153,000.00 3,898,000.00 3,766,000.00 3,628,000.00
      Long-Term Investments 30,403,000.00 27,122,000.00 28,631,000.00 25,376,000.00 25,851,000.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets -97,984,000.00 -95,147,000.00 -95,470,000.00 -96,229,000.00 -60,620,000.00
Liabilities 54,352,000.00 54,588,000.00 54,817,000.00 51,792,000.00 56,687,000.00
   Current Liabilities 22,754,000.00 21,719,000.00 21,498,000.00 18,699,000.00 16,417,000.00
      Payables and Expenses 15,721,000.00 15,599,000.00 16,947,000.00 16,594,000.00 10,834,000.00
            Account Payables 14,625,000.00 14,484,000.00 15,976,000.00 14,371,000.00 8,571,000.00
            Current Accrued Liabilities 1,096,000.00 1,115,000.00 971,000.00 2,223,000.00 2,263,000.00
      Short-Term Debt 5,204,000.00 3,588,000.00 2,468,000.00 1,567,000.00 4,280,000.00
      Other Current Liabilities 1,829,000.00 2,532,000.00 2,083,000.00 538,000.00 1,303,000.00
   Non-Current Liabilities 31,598,000.00 32,869,000.00 33,319,000.00 33,093,000.00 40,270,000.00
      Long-Term Debt 44,764,000.00 45,600,000.00 45,513,000.00 44,172,000.00 50,083,000.00
      Other Non-Current Liabilities -13,166,000.00 -12,731,000.00 -12,194,000.00 -11,079,000.00 -9,813,000.00
Equity 24,506,000.00 31,399,000.00 35,087,000.00 33,581,000.00 39,672,000.00
   Shareholders Equity 17,745,000.00 24,404,000.00 27,715,000.00 26,206,000.00 22,199,000.00
      Capital Stock 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
      Share Premium 33,624,000.00 33,465,000.00 33,402,000.00 33,262,000.00 33,208,000.00
      Retained Earnings 36,848,000.00 34,562,000.00 26,142,000.00 12,905,000.00 4,650,000.00
      Treasury Shares 52,623,000.00 43,502,000.00 31,841,000.00 19,904,000.00 15,157,000.00
      Accumulated Other Comprehensive Income -228,000.00 -262,000.00 2,000.00 -134,000.00 -1,024,000.00
   Minority Interest 6,558,000.00 6,100,000.00 6,404,000.00 6,410,000.00 7,053,000.00
Investments 30,403,000.00 31,903,000.00 31,776,000.00 25,376,000.00 25,851,000.00
Debt 49,968,000.00 49,188,000.00 47,981,000.00 45,739,000.00 54,363,000.00
Net Debt 45,239,000.00 37,916,000.00 35,973,000.00 40,435,000.00 53,793,000.00
Common Shares Outstanding 0 0 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 144,861,000.00 154,083,000.00 182,795,000.00 125,113,000.00 74,685,000.00
Cost Of Revenue 126,240,000.00 128,566,000.00 151,671,000.00 117,662,000.00 83,306,000.00
Gross Profit 18,621,000.00 25,517,000.00 31,124,000.00 7,451,000.00 -8,621,000.00
Operating Expenses 9,127,000.00 8,575,000.00 7,688,000.00 -19,945,000.00 5,202,000.00
   Selling, General and Administrative Expenses 4,039,000.00 3,920,000.00 3,597,000.00 3,454,000.00 3,894,000.00
   Other Operating Expenses 5,088,000.00 4,655,000.00 4,091,000.00 -23,399,000.00 1,308,000.00
Operating Income 9,494,000.00 16,942,000.00 23,436,000.00 27,396,000.00 -13,823,000.00
Net Non-Operating Income -3,537,000.00 -2,953,000.00 -2,967,000.00 -24,579,000.00 211,000.00
Interest Income 1,215,000.00 1,055,000.00 1,191,000.00 1,503,000.00 1,394,000.00
Interest Expense 839,000.00 525,000.00 1,000,000.00 1,489,000.00 1,385,000.00
Net Interest 376,000.00 530,000.00 191,000.00 14,000.00 9,000.00
EBT 5,957,000.00 13,989,000.00 20,469,000.00 2,817,000.00 -13,612,000.00
Income Tax 890,000.00 2,817,000.00 4,491,000.00 264,000.00 2,430,000.00
Equity Method Investments Income 2,993,000.00 742,000.00 655,000.00 458,000.00 -935,000.00
Net Income Including Non-Controlling Interests 7,278,000.00 13,261,000.00 17,790,000.00 12,231,000.00 -9,523,000.00
Net Income Non-Controlling Interests -3,833,000.00 -3,580,000.00 -3,274,000.00 -2,493,000.00 -303,000.00
Net Income 3,445,000.00 9,681,000.00 14,516,000.00 9,738,000.00 -9,826,000.00
EBIT 6,796,000.00 14,514,000.00 21,469,000.00 4,306,000.00 -12,227,000.00
Deprecation and Amortization 9,921,000.00 3,307,000.00 3,215,000.00 9,930,000.00 10,039,000.00
EBITDA 16,717,000.00 17,821,000.00 24,684,000.00 14,236,000.00 -2,188,000.00
EPS 0.01 0.02 0.03 0.02 -0.02
Diluted EPS 0.01 0.02 0.03 0.02 -0.02
Average Shares Outstanding Basic 340,000.00 407,000.00 512,000.00 634,000.00 649,000.00
Average Shares Outstanding Diluted 341,000.00 409,000.00 516,000.00 638,000.00 649,000.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 8,665,000.00 14,117,000.00 32,680,000.00 12,744,000.00 3,226,000.00
   Operating Net Income 7,278,000.00 13,261,000.00 17,790,000.00 12,231,000.00 -9,523,000.00
   Deprecation and Amortization 9,921,000.00 3,307,000.00 3,215,000.00 9,930,000.00 10,039,000.00
   Deferred Income Tax -124,000.00 -28,000.00 290,000.00 -169,000.00 -241,000.00
   Share Based Compensation 137,000.00 211,000.00 153,000.00 88,000.00 100,000.00
   Change in Working Capital -1,275,000.00 -2,927,000.00 5,566,000.00 9,500,000.00 -4,316,000.00
   Other Operating Activities -7,272,000.00 293,000.00 5,666,000.00 -18,836,000.00 7,167,000.00
Investing Cash Flow 1,534,000.00 -6,190,000.00 623,000.00 14,797,000.00 -6,514,000.00
   Capital Expenditure 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 2,533,000.00 1,890,000.00 2,420,000.00 1,464,000.00 2,787,000.00
   Net Purchase/Sale of Investments Net 10,574,000.00 15,050,000.00 13,654,000.00 18,935,000.00 -63,000.00
   Net Purchase/Sale of Business 1,706,000.00 1,206,000.00 1,223,000.00 0 0
   Other Investing Activities -13,279,000.00 -24,336,000.00 -16,674,000.00 -5,602,000.00 -9,238,000.00
Financing Cash Flow -12,434,000.00 -14,207,000.00 -13,647,000.00 -14,419,000.00 -135,000.00
   Net Issuance/Repayment of Debt 3,615,000.00 2,668,000.00 5,659,000.00 45,401,000.00 35,548,000.00
   Net Issuance/Repurchase of Equity 9,540,000.00 12,234,000.00 12,656,000.00 5,390,000.00 44,000.00
   Dividends Paid 1,154,000.00 1,261,000.00 1,279,000.00 1,484,000.00 1,510,000.00
   Other Financing Activities -26,743,000.00 -30,370,000.00 -33,241,000.00 -66,694,000.00 -37,237,000.00
Net Change in Cash -2,235,000.00 -3,185,000.00 3,337,000.00 4,738,000.00 -973,000.00
   Cash at Beginning of Period 5,446,000.00 8,631,000.00 5,294,000.00 556,000.00 1,389,000.00
   Cash at End of Period 3,211,000.00 5,446,000.00 8,631,000.00 5,294,000.00 416,000.00
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 83,240,000.00 78,484,000.00 81,633,000.00 78,858,000.00 79,833,000.00 85,229,000.00 85,528,000.00 85,987,000.00 89,969,000.00 86,442,000.00 87,037,000.00 89,904,000.00 89,694,000.00 96,737,000.00 90,952,000.00 85,373,000.00 89,300,000.00 94,300,000.00 97,818,000.00 96,359,000.00
   Current Assets 24,630,000.00 23,728,000.00 27,140,000.00 27,134,000.00 25,949,000.00 31,347,000.00 31,260,000.00 34,741,000.00 36,275,000.00 32,213,000.00 32,486,000.00 37,053,000.00 35,285,000.00 42,413,000.00 36,388,000.00 31,729,000.00 34,143,000.00 38,592,000.00 30,361,000.00 29,585,000.00
      Cash and Short-Term Investments 4,419,000.00 3,059,000.00 6,346,000.00 4,729,000.00 7,569,000.00 11,000,000.00 7,959,000.00 11,272,000.00 14,016,000.00 12,209,000.00 11,845,000.00 12,008,000.00 7,497,000.00 9,376,000.00 7,190,000.00 5,304,000.00 5,913,000.00 11,847,000.00 782,000.00 570,000.00
            Cash and Cash Equivalents 4,419,000.00 3,059,000.00 6,346,000.00 4,729,000.00 6,428,000.00 6,942,000.00 3,560,000.00 6,491,000.00 9,412,000.00 8,100,000.00 8,353,000.00 8,863,000.00 7,497,000.00 9,376,000.00 7,190,000.00 5,304,000.00 5,913,000.00 11,847,000.00 782,000.00 570,000.00
            Short-Term Investments 0 0 0 0 1,141,000.00 4,058,000.00 4,399,000.00 4,781,000.00 4,604,000.00 4,109,000.00 3,492,000.00 3,145,000.00 0 0 0 0 0 0 0 0
      Net Receivables 11,228,000.00 11,882,000.00 13,044,000.00 11,876,000.00 10,937,000.00 13,065,000.00 13,937,000.00 12,455,000.00 13,316,000.00 11,002,000.00 10,875,000.00 14,224,000.00 14,408,000.00 18,103,000.00 16,414,000.00 11,694,000.00 10,135,000.00 10,317,000.00 8,248,000.00 6,455,000.00
      Inventory 10,004,000.00 10,298,000.00 10,674,000.00 9,748,000.00 10,057,000.00 9,968,000.00 9,944,000.00 9,476,000.00 10,297,000.00 9,682,000.00 10,409,000.00 8,975,000.00 9,985,000.00 11,205,000.00 9,631,000.00 8,197,000.00 9,352,000.00 9,005,000.00 8,952,000.00 8,555,000.00
      Other Current Assets -1,021,000.00 -1,511,000.00 -2,924,000.00 781,000.00 -2,614,000.00 -2,686,000.00 -580,000.00 1,538,000.00 -1,354,000.00 -680,000.00 -643,000.00 1,846,000.00 3,395,000.00 3,729,000.00 3,153,000.00 6,534,000.00 8,743,000.00 7,423,000.00 12,379,000.00 14,005,000.00
   Non-Current Assets 58,610,000.00 54,756,000.00 54,493,000.00 51,724,000.00 53,884,000.00 53,882,000.00 54,268,000.00 51,246,000.00 53,694,000.00 54,229,000.00 54,551,000.00 52,851,000.00 54,409,000.00 54,324,000.00 54,564,000.00 53,644,000.00 55,157,000.00 55,708,000.00 67,457,000.00 66,774,000.00
      Property, Plant, Equipment Net 96,965,000.00 90,475,000.00 90,568,000.00 90,783,000.00 89,700,000.00 90,027,000.00 90,770,000.00 90,985,000.00 89,581,000.00 90,379,000.00 91,083,000.00 91,659,000.00 91,166,000.00 95,467,000.00 95,813,000.00 96,562,000.00 97,124,000.00 98,141,000.00 105,469,000.00 69,356,000.00
      Goodwill 18,063,000.00 15,889,000.00 15,889,000.00 24,133,000.00 15,889,000.00 15,889,000.00 15,889,000.00 24,133,000.00 15,889,000.00 15,889,000.00 15,889,000.00 24,133,000.00 15,889,000.00 15,889,000.00 15,913,000.00 24,169,000.00 15,913,000.00 15,913,000.00 20,303,000.00 28,559,000.00
      Intangible Assets 4,192,000.00 0 0 4,389,000.00 0 0 0 4,153,000.00 0 0 0 3,898,000.00 0 0 0 3,766,000.00 0 0 0 3,628,000.00
      Long-Term Investments 11,692,000.00 12,318,000.00 11,846,000.00 30,403,000.00 11,534,000.00 11,194,000.00 11,174,000.00 27,122,000.00 10,620,000.00 10,789,000.00 10,770,000.00 28,631,000.00 11,572,000.00 9,607,000.00 9,593,000.00 25,376,000.00 9,385,000.00 9,457,000.00 9,780,000.00 25,851,000.00
      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 -72,302,000.00 -63,926,000.00 -63,810,000.00 -97,984,000.00 -63,239,000.00 -63,228,000.00 -63,565,000.00 -95,147,000.00 -62,396,000.00 -62,828,000.00 -63,191,000.00 -95,470,000.00 -64,218,000.00 -66,639,000.00 -66,755,000.00 -96,229,000.00 -67,265,000.00 -67,803,000.00 -68,095,000.00 -60,620,000.00
Liabilities 59,351,000.00 55,220,000.00 58,568,000.00 54,352,000.00 54,121,000.00 57,141,000.00 55,757,000.00 54,588,000.00 57,171,000.00 53,874,000.00 53,374,000.00 54,817,000.00 55,919,000.00 63,068,000.00 59,653,000.00 51,792,000.00 53,336,000.00 57,607,000.00 58,764,000.00 56,687,000.00
   Current Liabilities 18,728,000.00 19,255,000.00 22,725,000.00 22,754,000.00 21,068,000.00 24,000,000.00 21,787,000.00 21,719,000.00 21,735,000.00 17,466,000.00 17,057,000.00 21,498,000.00 21,314,000.00 28,437,000.00 25,120,000.00 18,699,000.00 16,898,000.00 19,512,000.00 16,085,000.00 16,417,000.00
      Payables and Expenses 14,313,000.00 14,846,000.00 16,603,000.00 15,721,000.00 14,378,000.00 16,241,000.00 17,252,000.00 15,599,000.00 17,471,000.00 14,352,000.00 14,278,000.00 16,947,000.00 18,203,000.00 23,932,000.00 23,277,000.00 16,594,000.00 15,824,000.00 18,624,000.00 12,675,000.00 10,834,000.00
            Account Payables 13,345,000.00 14,090,000.00 15,448,000.00 14,625,000.00 13,411,000.00 15,475,000.00 16,072,000.00 14,484,000.00 16,492,000.00 13,640,000.00 13,642,000.00 15,976,000.00 17,426,000.00 23,310,000.00 20,536,000.00 14,371,000.00 12,801,000.00 12,665,000.00 10,779,000.00 8,571,000.00
            Current Accrued Liabilities 968,000.00 756,000.00 1,155,000.00 1,096,000.00 967,000.00 766,000.00 1,180,000.00 1,115,000.00 979,000.00 712,000.00 636,000.00 971,000.00 777,000.00 622,000.00 2,741,000.00 2,223,000.00 3,023,000.00 5,959,000.00 1,896,000.00 2,263,000.00
      Short-Term Debt 3,603,000.00 3,812,000.00 7,219,000.00 5,204,000.00 7,537,000.00 8,243,000.00 4,618,000.00 3,588,000.00 1,321,000.00 545,000.00 525,000.00 2,468,000.00 2,445,000.00 2,523,000.00 2,541,000.00 1,567,000.00 579,000.00 607,000.00 2,412,000.00 4,280,000.00
      Other Current Liabilities 812,000.00 597,000.00 -1,097,000.00 1,829,000.00 -847,000.00 -484,000.00 -83,000.00 2,532,000.00 2,943,000.00 2,569,000.00 2,254,000.00 2,083,000.00 666,000.00 1,982,000.00 -698,000.00 538,000.00 495,000.00 281,000.00 998,000.00 1,303,000.00
   Non-Current Liabilities 40,623,000.00 35,965,000.00 35,843,000.00 31,598,000.00 33,053,000.00 33,141,000.00 33,970,000.00 32,869,000.00 35,436,000.00 36,408,000.00 36,317,000.00 33,319,000.00 34,605,000.00 34,631,000.00 34,533,000.00 33,093,000.00 36,438,000.00 38,095,000.00 42,679,000.00 40,270,000.00
      Long-Term Debt 56,515,000.00 47,713,000.00 47,610,000.00 44,764,000.00 44,211,000.00 44,215,000.00 44,638,000.00 45,600,000.00 47,947,000.00 48,703,000.00 48,677,000.00 45,513,000.00 45,515,000.00 45,591,000.00 45,524,000.00 44,172,000.00 46,718,000.00 48,736,000.00 52,589,000.00 50,083,000.00
      Other Non-Current Liabilities -15,892,000.00 -11,748,000.00 -11,767,000.00 -13,166,000.00 -11,158,000.00 -11,074,000.00 -10,668,000.00 -12,731,000.00 -12,511,000.00 -12,295,000.00 -12,360,000.00 -12,194,000.00 -10,910,000.00 -10,960,000.00 -10,991,000.00 -11,079,000.00 -10,280,000.00 -10,641,000.00 -9,910,000.00 -9,813,000.00
Equity 23,889,000.00 23,264,000.00 23,065,000.00 24,506,000.00 25,712,000.00 28,088,000.00 29,771,000.00 31,399,000.00 32,798,000.00 32,568,000.00 33,663,000.00 35,087,000.00 33,775,000.00 33,669,000.00 31,299,000.00 33,581,000.00 35,964,000.00 36,693,000.00 39,054,000.00 39,672,000.00
   Shareholders Equity 17,097,000.00 16,624,000.00 16,396,000.00 17,745,000.00 18,933,000.00 21,324,000.00 22,922,000.00 24,404,000.00 25,862,000.00 25,714,000.00 26,858,000.00 27,715,000.00 26,304,000.00 26,306,000.00 23,972,000.00 26,206,000.00 28,280,000.00 28,921,000.00 21,592,000.00 22,199,000.00
      Capital Stock 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
      Share Premium 33,695,000.00 33,658,000.00 33,668,000.00 33,624,000.00 33,630,000.00 33,635,000.00 33,530,000.00 33,465,000.00 33,426,000.00 33,411,000.00 33,408,000.00 33,402,000.00 33,363,000.00 33,378,000.00 33,327,000.00 33,262,000.00 33,256,000.00 33,238,000.00 33,222,000.00 33,208,000.00
      Retained Earnings 38,517,000.00 37,424,000.00 36,489,000.00 36,848,000.00 36,771,000.00 36,423,000.00 35,199,000.00 34,562,000.00 33,424,000.00 30,442,000.00 28,528,000.00 26,142,000.00 23,175,000.00 18,983,000.00 13,420,000.00 12,905,000.00 12,484,000.00 12,160,000.00 4,029,000.00 4,650,000.00
      Treasury Shares 55,016,000.00 54,360,000.00 53,662,000.00 52,623,000.00 51,320,000.00 48,592,000.00 45,674,000.00 43,502,000.00 40,949,000.00 38,119,000.00 35,079,000.00 31,841,000.00 30,065,000.00 26,000,000.00 22,711,000.00 19,904,000.00 17,126,000.00 16,147,000.00 15,158,000.00 15,157,000.00
      Accumulated Other Comprehensive Income -109,000.00 -108,000.00 -109,000.00 -228,000.00 -316,000.00 -304,000.00 -286,000.00 -262,000.00 -98,000.00 -60,000.00 -18,000.00 2,000.00 -358,000.00 -130,000.00 -148,000.00 -134,000.00 -688,000.00 -680,000.00 -1,022,000.00 -1,024,000.00
   Minority Interest 6,792,000.00 6,640,000.00 6,669,000.00 6,558,000.00 6,576,000.00 6,562,000.00 6,288,000.00 6,100,000.00 5,966,000.00 5,886,000.00 5,837,000.00 6,404,000.00 6,504,000.00 6,398,000.00 6,362,000.00 6,410,000.00 6,698,000.00 6,804,000.00 6,919,000.00 7,053,000.00
Investments 11,692,000.00 12,318,000.00 11,846,000.00 30,403,000.00 12,675,000.00 15,252,000.00 15,573,000.00 31,903,000.00 15,224,000.00 14,898,000.00 14,262,000.00 31,776,000.00 11,572,000.00 9,607,000.00 9,593,000.00 25,376,000.00 9,385,000.00 9,457,000.00 9,780,000.00 25,851,000.00
Debt 60,118,000.00 51,525,000.00 54,829,000.00 49,968,000.00 51,748,000.00 52,458,000.00 49,256,000.00 49,188,000.00 49,268,000.00 49,248,000.00 49,202,000.00 47,981,000.00 47,960,000.00 48,114,000.00 48,065,000.00 45,739,000.00 47,297,000.00 49,343,000.00 55,001,000.00 54,363,000.00
Net Debt 55,699,000.00 48,466,000.00 48,483,000.00 45,239,000.00 44,179,000.00 41,458,000.00 41,297,000.00 37,916,000.00 35,252,000.00 37,039,000.00 37,357,000.00 35,973,000.00 40,463,000.00 38,738,000.00 40,875,000.00 40,435,000.00 41,384,000.00 37,496,000.00 54,219,000.00 53,793,000.00
Common Shares Outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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
Revenues 104,611,000.00 68,311,000.00 33,033,000.00 -72,980,000.00 110,153,000.00 73,542,000.00 34,146,000.00 -72,479,000.00 116,345,000.00 73,964,000.00 36,253,000.00 -92,654,000.00 141,617,000.00 94,491,000.00 39,341,000.00 -42,087,000.00 88,431,000.00 54,831,000.00 23,938,000.00
Cost Of Revenue 90,585,000.00 59,385,000.00 29,360,000.00 -62,573,000.00 95,682,000.00 63,538,000.00 29,593,000.00 -57,768,000.00 95,984,000.00 61,056,000.00 29,294,000.00 -80,768,000.00 118,096,000.00 79,275,000.00 35,068,000.00 -49,721,000.00 85,478,000.00 55,915,000.00 25,990,000.00
Gross Profit 14,026,000.00 8,926,000.00 3,673,000.00 -10,407,000.00 14,471,000.00 10,004,000.00 4,553,000.00 -14,711,000.00 20,361,000.00 12,908,000.00 6,959,000.00 -11,886,000.00 23,521,000.00 15,216,000.00 4,273,000.00 7,634,000.00 2,953,000.00 -1,084,000.00 -2,052,000.00
Operating Expenses 8,429,000.00 6,042,000.00 2,986,000.00 -8,156,000.00 8,816,000.00 5,698,000.00 2,769,000.00 -8,107,000.00 8,242,000.00 5,542,000.00 2,898,000.00 -6,832,000.00 6,791,000.00 5,172,000.00 2,557,000.00 18,097,000.00 -17,547,000.00 -17,328,000.00 -3,167,000.00
   Selling, General and Administrative Expenses 3,195,000.00 2,100,000.00 1,010,000.00 -2,130,000.00 3,098,000.00 2,064,000.00 1,007,000.00 -1,749,000.00 2,902,000.00 1,845,000.00 922,000.00 -1,492,000.00 2,615,000.00 1,679,000.00 795,000.00 -1,775,000.00 2,621,000.00 1,747,000.00 861,000.00
   Other Operating Expenses 5,234,000.00 3,942,000.00 1,976,000.00 -6,026,000.00 5,718,000.00 3,634,000.00 1,762,000.00 -6,358,000.00 5,340,000.00 3,697,000.00 1,976,000.00 -5,340,000.00 4,176,000.00 3,493,000.00 1,762,000.00 19,872,000.00 -20,168,000.00 -19,075,000.00 -4,028,000.00
Operating Income 5,597,000.00 2,884,000.00 687,000.00 -2,251,000.00 5,655,000.00 4,306,000.00 1,784,000.00 -6,604,000.00 12,119,000.00 7,366,000.00 4,061,000.00 -5,054,000.00 16,730,000.00 10,044,000.00 1,716,000.00 -10,463,000.00 20,500,000.00 16,244,000.00 1,115,000.00
Net Non-Operating Income -933,000.00 -623,000.00 -304,000.00 -2,391,000.00 -594,000.00 -373,000.00 -179,000.00 -2,089,000.00 -414,000.00 -296,000.00 -154,000.00 -1,317,000.00 -814,000.00 -574,000.00 -262,000.00 11,490,000.00 -19,031,000.00 -15,787,000.00 -1,251,000.00
Interest Income 1,051,000.00 700,000.00 350,000.00 -546,000.00 902,000.00 579,000.00 280,000.00 -551,000.00 795,000.00 536,000.00 275,000.00 -569,000.00 896,000.00 597,000.00 267,000.00 -656,000.00 1,067,000.00 734,000.00 358,000.00
Interest Expense 933,000.00 623,000.00 304,000.00 -307,000.00 594,000.00 373,000.00 179,000.00 -339,000.00 414,000.00 296,000.00 154,000.00 -650,000.00 814,000.00 574,000.00 262,000.00 -658,000.00 1,059,000.00 731,000.00 357,000.00
Net Interest 118,000.00 77,000.00 46,000.00 -239,000.00 308,000.00 206,000.00 101,000.00 -212,000.00 381,000.00 240,000.00 121,000.00 81,000.00 82,000.00 23,000.00 5,000.00 2,000.00 8,000.00 3,000.00 1,000.00
EBT 4,664,000.00 2,261,000.00 383,000.00 -4,642,000.00 5,061,000.00 3,933,000.00 1,605,000.00 -8,693,000.00 11,705,000.00 7,070,000.00 3,907,000.00 -6,371,000.00 15,916,000.00 9,470,000.00 1,454,000.00 1,027,000.00 1,469,000.00 457,000.00 -136,000.00
Income Tax 765,000.00 305,000.00 37,000.00 -848,000.00 779,000.00 666,000.00 293,000.00 -1,822,000.00 2,410,000.00 1,406,000.00 823,000.00 -1,379,000.00 3,507,000.00 2,081,000.00 282,000.00 170,000.00 21,000.00 39,000.00 34,000.00
Equity Method Investments Income 3,516,000.00 1,326,000.00 690,000.00 -25,000.00 2,237,000.00 577,000.00 204,000.00 -270,000.00 547,000.00 332,000.00 133,000.00 -245,000.00 469,000.00 289,000.00 142,000.00 -123,000.00 306,000.00 184,000.00 91,000.00
Net Income Including Non-Controlling Interests 3,899,000.00 1,956,000.00 346,000.00 -1,583,000.00 4,282,000.00 3,267,000.00 1,312,000.00 -4,782,000.00 9,295,000.00 5,664,000.00 3,084,000.00 -3,180,000.00 12,409,000.00 7,389,000.00 1,172,000.00 -6,595,000.00 9,896,000.00 8,866,000.00 64,000.00
Net Income Non-Controlling Interests -1,387,000.00 -814,000.00 -420,000.00 -1,435,000.00 -1,208,000.00 -815,000.00 -375,000.00 -1,441,000.00 -1,065,000.00 -714,000.00 -360,000.00 -1,062,000.00 -1,214,000.00 -671,000.00 -327,000.00 -659,000.00 -932,000.00 -596,000.00 -306,000.00
Net Income 2,512,000.00 1,142,000.00 -74,000.00 -3,018,000.00 3,074,000.00 2,452,000.00 937,000.00 -6,223,000.00 8,230,000.00 4,950,000.00 2,724,000.00 -4,242,000.00 11,195,000.00 6,718,000.00 845,000.00 -7,254,000.00 8,964,000.00 8,270,000.00 -242,000.00
EBIT 5,597,000.00 2,884,000.00 687,000.00 -4,949,000.00 5,655,000.00 4,306,000.00 1,784,000.00 -9,032,000.00 12,119,000.00 7,366,000.00 4,061,000.00 -7,021,000.00 16,730,000.00 10,044,000.00 1,716,000.00 369,000.00 2,528,000.00 1,188,000.00 221,000.00
Deprecation and Amortization 7,205,000.00 4,711,000.00 2,361,000.00 -29,000.00 7,458,000.00 1,665,000.00 827,000.00 -1,606,000.00 2,479,000.00 1,634,000.00 800,000.00 -1,632,000.00 2,418,000.00 1,624,000.00 805,000.00 -5,087,000.00 7,505,000.00 5,042,000.00 2,470,000.00
EBITDA 12,802,000.00 7,595,000.00 3,048,000.00 -4,978,000.00 13,113,000.00 5,971,000.00 2,611,000.00 -10,638,000.00 14,598,000.00 9,000,000.00 4,861,000.00 -8,653,000.00 19,148,000.00 11,668,000.00 2,521,000.00 -4,718,000.00 10,033,000.00 6,230,000.00 2,691,000.00
EPS 0.01 0.00 -0.00 -0.00 0.01 0.01 0.00 -0.00 0.02 0.01 0.01 -0.00 0.02 0.01 0.00 -0.00 0.01 0.01 -0.00
Diluted EPS 0.01 0.00 -0.00 0.00 0.01 0.01 0.00 0.00 0.02 0.01 0.01 0.00 0.02 0.01 0.00 0.00 0.01 0.01 -0.00
Average Shares Outstanding Basic 307,000.00 309,000.00 313,000.00 297,000.00 347,000.00 355,000.00 361,000.00 336,000.00 418,000.00 430,000.00 444,000.00 407,000.00 528,000.00 549,000.00 564,000.00 589,000.00 645,000.00 651,000.00 651,000.00
Average Shares Outstanding Diluted 308,000.00 310,000.00 313,000.00 298,000.00 348,000.00 356,000.00 362,000.00 337,000.00 420,000.00 432,000.00 447,000.00 411,000.00 532,000.00 553,000.00 568,000.00 601,000.00 649,000.00 651,000.00 651,000.00
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 5,184,000.00 2,575,000.00 -64,000.00 -4,099,000.00 6,458,000.00 4,774,000.00 1,532,000.00 -10,975,000.00 12,994,000.00 8,041,000.00 4,057,000.00 -12,809,000.00 24,002,000.00 18,974,000.00 2,513,000.00 4,158,000.00 4,232,000.00 3,635,000.00 719,000.00
   Operating Net Income 3,899,000.00 1,956,000.00 346,000.00 -1,583,000.00 4,282,000.00 3,267,000.00 1,312,000.00 -4,782,000.00 9,295,000.00 5,664,000.00 3,084,000.00 -3,180,000.00 12,409,000.00 7,389,000.00 1,172,000.00 -6,595,000.00 9,896,000.00 8,866,000.00 64,000.00
   Deprecation and Amortization 7,205,000.00 4,711,000.00 2,361,000.00 -29,000.00 7,458,000.00 1,665,000.00 827,000.00 -1,606,000.00 2,479,000.00 1,634,000.00 800,000.00 -1,632,000.00 2,418,000.00 1,624,000.00 805,000.00 -5,087,000.00 7,505,000.00 5,042,000.00 2,470,000.00
   Deferred Income Tax 251,000.00 -58,000.00 -28,000.00 138,000.00 -132,000.00 -95,000.00 -35,000.00 19,000.00 -64,000.00 22,000.00 -5,000.00 396,000.00 38,000.00 -92,000.00 -52,000.00 31,000.00 -175,000.00 -49,000.00 24,000.00
   Share Based Compensation 0 0 0 137,000.00 0 0 0 211,000.00 0 0 0 153,000.00 0 0 0 88,000.00 0 0 0
   Change in Working Capital -1,635,000.00 -44,000.00 2,634,000.00 -1,947,000.00 -3,018,000.00 1,266,000.00 2,424,000.00 4,643,000.00 1,351,000.00 -4,436,000.00 -4,485,000.00 -33,918,000.00 7,352,000.00 19,354,000.00 12,778,000.00 -12,774,000.00 9,101,000.00 9,280,000.00 3,893,000.00
   Other Operating Activities -4,536,000.00 -3,990,000.00 -5,377,000.00 -815,000.00 -2,132,000.00 -1,329,000.00 -2,996,000.00 -9,460,000.00 -67,000.00 5,157,000.00 4,663,000.00 25,372,000.00 1,785,000.00 -9,301,000.00 -12,190,000.00 28,495,000.00 -22,095,000.00 -19,504,000.00 -5,732,000.00
Investing Cash Flow -5,653,000.00 -1,897,000.00 -923,000.00 1,938,000.00 1,227,000.00 -807,000.00 -824,000.00 -1,547,000.00 -2,131,000.00 -1,696,000.00 -816,000.00 -2,826,000.00 1,121,000.00 620,000.00 1,708,000.00 -13,421,000.00 13,349,000.00 15,403,000.00 -534,000.00
   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 2,305,000.00 1,358,000.00 663,000.00 -847,000.00 1,723,000.00 1,072,000.00 585,000.00 -863,000.00 1,358,000.00 938,000.00 457,000.00 -762,000.00 1,694,000.00 993,000.00 495,000.00 -429,000.00 983,000.00 606,000.00 304,000.00
   Net Purchase/Sale of Investments Net -198,000.00 -108,000.00 -87,000.00 -9,062,000.00 9,481,000.00 6,506,000.00 3,649,000.00 -9,069,000.00 12,264,000.00 8,114,000.00 3,741,000.00 -3,507,000.00 8,558,000.00 5,997,000.00 2,606,000.00 2,653,000.00 11,183,000.00 5,197,000.00 -98,000.00
   Net Purchase/Sale of Business 4,137,000.00 725,000.00 369,000.00 -914,000.00 1,072,000.00 801,000.00 747,000.00 341,000.00 362,000.00 296,000.00 207,000.00 700,000.00 289,000.00 234,000.00 0 0 0 0 0
   Other Investing Activities -11,897,000.00 -3,872,000.00 -1,868,000.00 12,761,000.00 -11,049,000.00 -9,186,000.00 -5,805,000.00 8,044,000.00 -16,115,000.00 -11,044,000.00 -5,221,000.00 743,000.00 -9,420,000.00 -6,604,000.00 -1,393,000.00 -15,645,000.00 1,183,000.00 9,600,000.00 -740,000.00
Financing Cash Flow -88,000.00 -2,215,000.00 1,589,000.00 4,640,000.00 -9,127,000.00 -4,970,000.00 -2,977,000.00 8,365,000.00 -11,038,000.00 -7,627,000.00 -3,907,000.00 6,024,000.00 -11,011,000.00 -6,296,000.00 -2,364,000.00 235,000.00 -8,716,000.00 -5,954,000.00 16,000.00
   Net Issuance/Repayment of Debt 27,714,000.00 20,807,000.00 5,302,000.00 -512,000.00 2,442,000.00 1,668,000.00 17,000.00 -5,225,000.00 2,651,000.00 2,632,000.00 2,610,000.00 -7,203,000.00 5,637,000.00 3,622,000.00 3,603,000.00 -60,184,000.00 41,100,000.00 39,682,000.00 24,803,000.00
   Net Issuance/Repurchase of Equity 2,811,000.00 2,060,000.00 1,180,000.00 -6,107,000.00 8,060,000.00 5,283,000.00 2,304,000.00 -8,165,000.00 9,727,000.00 6,875,000.00 3,797,000.00 -7,449,000.00 10,584,000.00 6,479,000.00 3,042,000.00 1,417,000.00 2,448,000.00 1,347,000.00 178,000.00
   Dividends Paid 840,000.00 564,000.00 285,000.00 -596,000.00 862,000.00 589,000.00 299,000.00 -679,000.00 950,000.00 653,000.00 337,000.00 -622,000.00 928,000.00 643,000.00 330,000.00 -785,000.00 1,130,000.00 760,000.00 379,000.00
   Other Financing Activities -31,453,000.00 -25,646,000.00 -5,178,000.00 11,855,000.00 -20,491,000.00 -12,510,000.00 -5,597,000.00 22,434,000.00 -24,366,000.00 -17,787,000.00 -10,651,000.00 21,298,000.00 -28,160,000.00 -17,040,000.00 -9,339,000.00 59,787,000.00 -53,394,000.00 -47,743,000.00 -25,344,000.00
Net Change in Cash -557,000.00 -1,537,000.00 602,000.00 2,479,000.00 -1,442,000.00 -1,003,000.00 -2,269,000.00 -1,062,000.00 -175,000.00 -1,282,000.00 -666,000.00 -4,398,000.00 2,089,000.00 3,789,000.00 1,857,000.00 -12,067,000.00 5,319,000.00 11,283,000.00 203,000.00
   Cash at Beginning of Period 3,211,000.00 3,211,000.00 3,211,000.00 732,000.00 5,446,000.00 5,446,000.00 5,446,000.00 6,508,000.00 8,631,000.00 8,631,000.00 8,631,000.00 13,029,000.00 5,294,000.00 5,294,000.00 5,294,000.00 17,361,000.00 556,000.00 556,000.00 422,000.00
   Cash at End of Period 2,654,000.00 1,674,000.00 3,813,000.00 3,211,000.00 4,004,000.00 4,443,000.00 3,177,000.00 5,446,000.00 8,456,000.00 7,349,000.00 7,965,000.00 8,631,000.00 7,383,000.00 9,083,000.00 7,151,000.00 5,294,000.00 5,875,000.00 11,839,000.00 625,000.00
Free Cash Flow 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0