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Bavarian Nordic










Financial Health of Bavarian Nordic




Comparing to competitors in the Biotechnology industry




  Industry Rankings  


Bavarian Nordic
Buy, Hold or Sell?

Should you buy, hold or sell Bavarian Nordic?

I guess you are interested in Bavarian Nordic. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Bavarian Nordic

Let's start. I'm going to help you getting a better view of Bavarian Nordic. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Bavarian Nordic even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Bavarian Nordic is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Bavarian Nordic. The closing price on 2022-12-02 was kr241.40 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Bavarian Nordic Daily Candlestick Chart

Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very inefficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of Bavarian Nordic.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Bavarian Nordic earns for each kr1 of revenue.

  • Above 10% is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • A Net Profit Margin of 1.2% means that kr0.01 for each kr1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Bavarian Nordic:

  • The MRQ is 1.2%. The company is making a profit. +1
  • The TTM is -36.7%. The company is making a huge loss. -2
Trends
Current periodCompared to+/- 
MRQ1.2%TTM-36.7%+37.9%
TTM-36.7%YOY-61.7%+25.0%
TTM-36.7%5Y-136.6%+99.9%
5Y-136.6%10Y-83.0%-53.5%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.2%-223.6%+224.8%
TTM-36.7%-281.7%+245.0%
YOY-61.7%-344.8%+283.1%
5Y-136.6%-450.1%+313.5%
10Y-83.0%-541.0%+458.0%
1.1.2. Return on Assets

Shows how efficient Bavarian Nordic is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • 0.1% Return on Assets means that Bavarian Nordic generated kr0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Bavarian Nordic:

  • The MRQ is 0.1%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is -1.2%. Using its assets, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ0.1%TTM-1.2%+1.3%
TTM-1.2%YOY-2.0%+0.7%
TTM-1.2%5Y-1.8%+0.5%
5Y-1.8%10Y-0.7%-1.0%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.1%-9.9%+10.0%
TTM-1.2%-8.9%+7.7%
YOY-2.0%-9.3%+7.3%
5Y-1.8%-11.7%+9.9%
10Y-0.7%-12.7%+12.0%
1.1.3. Return on Equity

Shows how efficient Bavarian Nordic is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • 0.2% Return on Equity means Bavarian Nordic generated kr0.00 for each kr1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Bavarian Nordic:

  • The MRQ is 0.2%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is -2.1%. Using its investors money, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ0.2%TTM-2.1%+2.3%
TTM-2.1%YOY-3.5%+1.3%
TTM-2.1%5Y-2.5%+0.4%
5Y-2.5%10Y-1.1%-1.4%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2%-12.0%+12.2%
TTM-2.1%-11.5%+9.4%
YOY-3.5%-10.8%+7.3%
5Y-2.5%-14.2%+11.7%
10Y-1.1%-15.2%+14.1%

1.2. Operating Efficiency of Bavarian Nordic.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Bavarian Nordic is operating .

  • Measures how much profit Bavarian Nordic makes for each kr1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • An Operating Margin of 12.8% means the company generated kr0.13  for each kr1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Bavarian Nordic:

  • The MRQ is 12.8%. The company is operating less efficient.
  • The TTM is -28.1%. The company is operating very inefficient. -2
Trends
Current periodCompared to+/- 
MRQ12.8%TTM-28.1%+40.9%
TTM-28.1%YOY-48.2%+20.1%
TTM-28.1%5Y-128.3%+100.2%
5Y-128.3%10Y-82.6%-45.7%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ12.8%-207.3%+220.1%
TTM-28.1%-271.0%+242.9%
YOY-48.2%-325.9%+277.7%
5Y-128.3%-454.0%+325.7%
10Y-82.6%-537.1%+454.5%
1.2.2. Operating Ratio

Measures how efficient Bavarian Nordic is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Biotechnology industry mean).
  • An Operation Ratio of 1.25 means that the operating costs are kr1.25 for each kr1 in net sales.

Let's take a look of the Operating Ratio trends of Bavarian Nordic:

  • The MRQ is 1.255. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.549. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.255TTM1.549-0.294
TTM1.549YOY1.526+0.023
TTM1.5495Y2.319-0.770
5Y2.31910Y1.843+0.476
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.2552.871-1.616
TTM1.5493.504-1.955
YOY1.5263.604-2.078
5Y2.3195.132-2.813
10Y1.8436.371-4.528

1.3. Liquidity of Bavarian Nordic.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Bavarian Nordic is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Biotechnology industry mean).
  • A Current Ratio of 1.96 means the company has kr1.96 in assets for each kr1 in short-term debts.

Let's take a look of the Current Ratio trends of Bavarian Nordic:

  • The MRQ is 1.965. The company is able to pay all its short-term debts. +1
  • The TTM is 2.156. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.965TTM2.156-0.191
TTM2.156YOY2.080+0.076
TTM2.1565Y4.405-2.248
5Y4.40510Y3.614+0.791
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.9655.117-3.152
TTM2.1565.755-3.599
YOY2.0805.854-3.774
5Y4.4056.511-2.106
10Y3.6146.222-2.608
1.3.2. Quick Ratio

Measures if Bavarian Nordic is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • A Quick Ratio of 1.38 means the company can pay off kr1.38 for each kr1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Bavarian Nordic:

  • The MRQ is 1.384. The company is able to pay all its short-term debts with the most liquid assets. +1
  • The TTM is 2.537. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ1.384TTM2.537-1.153
TTM2.537YOY3.013-0.476
TTM2.5375Y7.248-4.712
5Y7.24810Y5.474+1.774
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3844.284-2.900
TTM2.5374.664-2.127
YOY3.0134.787-1.774
5Y7.2485.218+2.030
10Y5.4745.182+0.292

1.4. Solvency of Bavarian Nordic.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Bavarian Nordic assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Bavarian Nordic to Biotechnology industry mean.
  • A Debt to Asset Ratio of 0.43 means that Bavarian Nordic assets are financed with 43.4% credit (debt) and the remaining percentage (100% - 43.4%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Bavarian Nordic:

  • The MRQ is 0.434. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.414. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.434TTM0.414+0.020
TTM0.414YOY0.421-0.007
TTM0.4145Y0.371+0.043
5Y0.37110Y0.343+0.029
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4340.278+0.156
TTM0.4140.277+0.137
YOY0.4210.306+0.115
5Y0.3710.367+0.004
10Y0.3430.403-0.060
1.4.2. Debt to Equity Ratio

Measures if Bavarian Nordic is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Bavarian Nordic to the Biotechnology industry mean.
  • A Debt to Equity ratio of 76.7% means that company has kr0.77 debt for each kr1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Bavarian Nordic:

  • The MRQ is 0.767. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.709. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.767TTM0.709+0.058
TTM0.709YOY0.730-0.020
TTM0.7095Y0.680+0.030
5Y0.68010Y0.577+0.103
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7670.315+0.452
TTM0.7090.317+0.392
YOY0.7300.319+0.411
5Y0.6800.403+0.277
10Y0.5770.462+0.115

2. Market Valuation of Bavarian Nordic

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every kr1 in earnings Bavarian Nordic generates.

  • Above 15 is considered overpriced but always compare Bavarian Nordic to the Biotechnology industry mean.
  • A PE ratio of 1,300.27 means the investor is paying kr1,300.27 for every kr1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Bavarian Nordic:

  • The EOD is 1,409.449. Seems overpriced? -1
  • The MRQ is 1,300.266. Seems overpriced? -1
  • The TTM is 250.031. Seems overpriced? -1
Trends
Current periodCompared to+/- 
EOD1,409.449MRQ1,300.266+109.183
MRQ1,300.266TTM250.031+1,050.235
TTM250.031YOY-148.584+398.615
TTM250.0315Y29.817+220.214
5Y29.81710Y251.137-221.320
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD1,409.449-8.986+1,418.435
MRQ1,300.266-9.792+1,310.058
TTM250.031-16.243+266.274
YOY-148.584-20.876-127.708
5Y29.817-16.665+46.482
10Y251.137-14.732+265.869
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Bavarian Nordic.

  • Lower is better.
  • A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of Bavarian Nordic:

  • The MRQ is 63.157. Seems overpriced? -1
  • The TTM is 143.237. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ63.157TTM143.237-80.080
TTM143.237YOY139.500+3.737
TTM143.2375Y-745.718+888.955
5Y-745.71810Y-348.854-396.863
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ63.157-0.032+63.189
TTM143.2370.004+143.233
YOY139.5000.016+139.484
5Y-745.7180.006-745.724
10Y-348.8540.003-348.857

2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Bavarian Nordic is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Biotechnology industry mean).
  • A PB ratio of 2.26 means the investor is paying kr2.26 for each kr1 in book value.

Let's take a look of the Price to Book Ratio trends of Bavarian Nordic:

  • The EOD is 2.453. Good. +1
  • The MRQ is 2.263. Good. +1
  • The TTM is 2.236. Good. +1
Trends
Current periodCompared to+/- 
EOD2.453MRQ2.263+0.190
MRQ2.263TTM2.236+0.027
TTM2.236YOY3.317-1.081
TTM2.2365Y3.466-1.230
5Y3.46610Y5.771-2.305
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD2.4531.835+0.618
MRQ2.2632.006+0.257
TTM2.2362.774-0.538
YOY3.3173.453-0.136
5Y3.4662.713+0.753
10Y5.7712.402+3.369
2. Total Gains per Share

2.4. Latest News of Bavarian Nordic

Does Bavarian Nordic still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Bavarian Nordic to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2022-11-24
20:30
Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with suchRead
2022-11-23
10:17
Capital Increase in Bavarian Nordic A/S as a Result of Employee Warrant ExerciseRead
2022-11-11
17:30
Bavarian Nordic to Present at Jefferies 2022 London Healthcare ConferenceRead
2022-11-09
07:35
Bavarian Nordic Announces Interim Results for the First Nine Months of 2022Read

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Bavarian Nordic compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--1.1144.198-73%1.791-38%3.056-64%2.088-47%
Book Value Growth--0.8600.8640%0.8610%0.8620%0.8630%
Book Value Per Share--98.421100.209-2%79.124+24%60.625+62%40.196+145%
Book Value Per Share Growth--0.0110.040-71%0.018-37%0.027-58%0.032-65%
Current Ratio--1.9652.156-9%2.080-6%4.405-55%3.614-46%
Debt To Asset Ratio--0.4340.414+5%0.421+3%0.371+17%0.343+27%
Debt To Equity Ratio--0.7670.709+8%0.730+5%0.680+13%0.577+33%
Dividend Per Share----0%-0%-0%-0%
Eps--0.171-2.119+1337%-2.607+1622%-1.117+752%-0.426+349%
Eps Growth--20.5884.977+314%0.377+5357%0.895+2200%1.446+1323%
Gross Profit Margin--1.0001.172-15%1.333-25%0.965+4%0.751+33%
Net Profit Margin--0.012-0.367+3141%-0.617+5216%-1.366+11420%-0.830+6983%
Operating Margin--0.128-0.281+320%-0.482+478%-1.283+1106%-0.826+748%
Operating Ratio--1.2551.549-19%1.526-18%2.319-46%1.843-32%
Pb Ratio2.453+8%2.2632.236+1%3.317-32%3.466-35%5.771-61%
Pe Ratio1409.449+8%1300.266250.031+420%-148.584+111%29.817+4261%251.137+418%
Peg Ratio--63.157143.237-56%139.500-55%-745.718+1281%-348.854+652%
Price Per Share241.400+8%222.700224.188-1%264.425-16%183.634+21%173.926+28%
Price To Total Gains Ratio216.750+8%199.96024.017+733%-360.872+280%-42.016+121%114.389+75%
Profit Growth--377.75627.660+1266%-80.470+121%-30.219+108%-0.944+100%
Quick Ratio--1.3842.537-45%3.013-54%7.248-81%5.474-75%
Return On Assets--0.001-0.012+1366%-0.020+2112%-0.018+1893%-0.007+847%
Return On Equity--0.002-0.021+1318%-0.035+2093%-0.025+1554%-0.011+756%
Revenue Growth--0.9240.870+6%0.818+13%0.727+27%0.736+26%
Total Gains Per Share--1.1144.198-73%1.791-38%3.056-64%2.088-47%
Total Gains Per Share Growth--4.127-0.570+114%-0.508+112%-1.706+141%-1.134+127%
Usd Book Value--986620294.0001004542750.500-2%793170530.250+24%607731332.100+62%402944204.590+145%
Usd Book Value Change Per Share--0.1580.595-73%0.254-38%0.433-64%0.296-47%
Usd Book Value Per Share--13.95614.210-2%11.220+24%8.597+62%5.700+145%
Usd Dividend Per Share----0%-0%-0%-0%
Usd Eps--0.024-0.300+1337%-0.370+1622%-0.158+752%-0.060+349%
Usd Price Per Share34.231+8%31.57931.790-1%37.495-16%26.039+21%24.663+28%
Usd Profit--1716914.400-21242951.650+1337%-26134590.800+1622%-11184716.060+751%-4270023.400+349%
Usd Revenue--142305517.00085231974.150+67%56111075.350+154%48315450.190+195%45614486.330+212%
Usd Total Gains Per Share--0.1580.595-73%0.254-38%0.433-64%0.296-47%
 EOD+2 -3MRQTTM+16 -17YOY+20 -135Y+20 -1310Y+20 -13

3.2. Fundamental Score

Let's check the fundamental score of Bavarian Nordic based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-151,409.449
Price to Book Ratio (EOD)Between0-12.453
Net Profit Margin (MRQ)Greater than00.012
Operating Margin (MRQ)Greater than00.128
Quick Ratio (MRQ)Greater than11.384
Current Ratio (MRQ)Greater than11.965
Debt to Asset Ratio (MRQ)Less than10.434
Debt to Equity Ratio (MRQ)Less than10.767
Return on Equity (MRQ)Greater than0.150.002
Return on Assets (MRQ)Greater than0.050.001
Total6/10 (60.0%)

3.3. Technical Score

Let's check the technical score of Bavarian Nordic based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5050.961
Ma 20Greater thanMa 50244.485
Ma 50Greater thanMa 100232.984
Ma 100Greater thanMa 200270.456
OpenGreater thanClose240.000
Total3/5 (60.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2021-09-302021-12-312022-03-312022-06-302022-09-30
Income before Tax  -78,818-18,930-97,748-172,871-270,61934,762-235,857255,20119,344
Net Income  -81,440-20,792-102,232-169,711-271,94334,773-237,170249,27812,108
EBIT  -45,362-10,555-55,917-181,955-237,87220,242-217,630345,596127,966
Operating Income  -46,984-24,946-71,930-120,170-192,100-25,530-217,630345,596127,966
Net Income from Continuing Operations  -81,440-20,792-102,232-169,711-271,94334,773-237,170249,27812,108
Net Income Applicable to Common Shares  -81,440-20,792-102,232-169,711-271,94334,773-237,170249,27812,108



Latest Balance Sheet

Balance Sheet of 2022-09-30. Currency in DKK. All numbers in thousands.

Summary
Total Assets12,295,000
Total Liabilities5,337,170
Total Stockholder Equity6,957,830
 As reported
Total Liabilities 5,337,170
Total Stockholder Equity+ 6,957,830
Total Assets = 12,295,000

Assets

Total Assets12,295,000
Total Current Assets4,545,764
Long-term Assets4,545,764
Total Current Assets
Cash And Cash Equivalents 718,646
Short-term Investments 2,522,932
Net Receivables 678,605
Inventory 591,214
Other Current Assets 1,854
Total Current Assets  (as reported)4,545,764
Total Current Assets  (calculated)4,513,251
+/- 32,513
Long-term Assets
Property Plant Equipment 1,714,614
Intangible Assets 5,864,519
Other Assets 170,103
Long-term Assets  (as reported)7,749,236
Long-term Assets  (calculated)7,749,236
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities2,313,478
Long-term Liabilities3,023,692
Total Stockholder Equity6,957,830
Total Current Liabilities
Short Long Term Debt 874,372
Accounts payable 381,904
Other Current Liabilities 940,262
Total Current Liabilities  (as reported)2,313,478
Total Current Liabilities  (calculated)2,196,538
+/- 116,940
Long-term Liabilities
Capital Lease Obligations Min Short Term Debt73,522
Other Liabilities 2,956,888
Long-term Liabilities  (as reported)3,023,692
Long-term Liabilities  (calculated)3,030,410
+/- 6,718
Total Stockholder Equity
Common Stock706,943
Retained Earnings 6,131,979
Other Stockholders Equity 120,371
Total Stockholder Equity (as reported)6,957,830
Total Stockholder Equity (calculated)6,959,293
+/- 1,463
Other
Capital Stock706,943
Common Stock Shares Outstanding 70,694
Net Debt 737,622
Net Invested Capital 8,414,098
Net Tangible Assets 1,093,311
Net Working Capital 2,232,286



Balance Sheet

Currency in DKK. All numbers in thousands.

 Trend2022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-302002-03-312001-12-312001-06-30
> Total Assets 
107,200
61,874
37,100
114,700
91,700
317,701
288,500
271,000
405,600
429,169
413,400
402,000
511,400
602,101
657,300
994,700
963,300
928,564
1,085,600
1,029,600
1,010,100
954,420
1,309,200
1,292,700
1,277,800
1,732,050
1,730,100
1,657,500
1,649,900
1,694,261
1,444,500
1,415,500
1,319,200
1,271,104
1,442,300
1,560,500
1,370,600
1,467,128
1,377,100
1,940,200
1,842,600
1,976,587
1,885,900
1,689,300
1,644,000
1,539,181
1,389,200
1,497,600
1,454,400
1,452,206
1,332,400
1,255,200
1,263,800
1,887,268
2,463,900
2,220,600
2,139,139
1,989,263
1,862,610
2,481,714
2,582,921
2,823,698
2,881,566
3,068,199
2,916,240
3,152,671
3,029,816
3,155,562
3,103,313
3,060,936
2,761,815
2,672,034
2,563,218
7,047,068
9,005,271
9,242,710
9,451,135
8,759,064
9,748,434
10,008,378
10,117,524
12,089,269
11,991,549
12,028,556
12,295,000
12,295,00012,028,55611,991,54912,089,26910,117,52410,008,3789,748,4348,759,0649,451,1359,242,7109,005,2717,047,0682,563,2182,672,0342,761,8153,060,9363,103,3133,155,5623,029,8163,152,6712,916,2403,068,1992,881,5662,823,6982,582,9212,481,7141,862,6101,989,2632,139,1392,220,6002,463,9001,887,2681,263,8001,255,2001,332,4001,452,2061,454,4001,497,6001,389,2001,539,1811,644,0001,689,3001,885,9001,976,5871,842,6001,940,2001,377,1001,467,1281,370,6001,560,5001,442,3001,271,1041,319,2001,415,5001,444,5001,694,2611,649,9001,657,5001,730,1001,732,0501,277,8001,292,7001,309,200954,4201,010,1001,029,6001,085,600928,564963,300994,700657,300602,101511,400402,000413,400429,169405,600271,000288,500317,70191,700114,70037,10061,874107,200
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
555,981
697,800
798,500
562,900
637,940
524,800
1,068,000
969,000
1,111,359
1,043,000
1,043,000
1,008,300
894,921
736,200
941,600
868,700
900,369
771,900
673,100
671,300
1,319,123
1,923,900
1,702,600
1,586,396
1,404,258
1,248,654
1,845,206
1,998,508
2,282,567
2,347,042
2,559,990
2,575,004
2,770,485
2,628,431
2,710,095
2,622,727
2,508,256
2,078,009
1,879,219
1,681,076
654,874
2,630,588
2,887,721
3,091,224
2,381,047
3,342,901
3,581,983
3,593,960
4,753,639
4,439,425
4,357,749
4,545,764
4,545,7644,357,7494,439,4254,753,6393,593,9603,581,9833,342,9012,381,0473,091,2242,887,7212,630,588654,8741,681,0761,879,2192,078,0092,508,2562,622,7272,710,0952,628,4312,770,4852,575,0042,559,9902,347,0422,282,5671,998,5081,845,2061,248,6541,404,2581,586,3961,702,6001,923,9001,319,123671,300673,100771,900900,369868,700941,600736,200894,9211,008,3001,043,0001,043,0001,111,359969,0001,068,000524,800637,940562,900798,500697,800555,981000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,954
203,700
102,800
198,000
266,783
121,900
172,100
50,600
272,107
253,600
232,000
266,400
353,545
139,500
294,000
148,800
346,799
227,200
114,600
146,000
398,357
1,019,300
505,200
462,345
374,063
185,008
459,220
209,333
853,596
1,005,168
358,134
459,188
282,521
150,347
179,551
345,652
266,658
140,312
114,172
104,555
297,545
1,464,523
376,921
561,445
285,487
245,835
185,901
341,822
591,820
401,366
290,801
718,646
718,646290,801401,366591,820341,822185,901245,835285,487561,445376,9211,464,523297,545104,555114,172140,312266,658345,652179,551150,347282,521459,188358,1341,005,168853,596209,333459,220185,008374,063462,345505,2001,019,300398,357146,000114,600227,200346,799148,800294,000139,500353,545266,400232,000253,600272,10750,600172,100121,900266,783198,000102,800203,70080,954000000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
138,900
96,000
97,100
88,871
91,200
507,900
461,100
311,919
275,300
279,300
280,000
196,359
283,500
280,600
282,500
185,282
187,700
188,900
90,100
581,350
588,200
781,100
780,544
692,722
793,189
1,048,721
1,054,077
1,061,248
1,051,226
1,954,443
1,956,980
2,311,912
2,295,699
2,300,308
2,063,042
2,050,556
1,787,542
1,523,558
1,391,041
174,819
740,627
2,002,986
2,007,662
1,384,120
2,342,787
2,327,547
2,296,242
3,124,795
3,045,703
2,962,638
2,522,932
2,522,9322,962,6383,045,7033,124,7952,296,2422,327,5472,342,7871,384,1202,007,6622,002,986740,627174,8191,391,0411,523,5581,787,5422,050,5562,063,0422,300,3082,295,6992,311,9121,956,9801,954,4431,051,2261,061,2481,054,0771,048,721793,189692,722780,544781,100588,200581,35090,100188,900187,700185,282282,500280,600283,500196,359280,000279,300275,300311,919461,100507,90091,20088,87197,10096,000138,9000000000000000000000000000000000000
       Net Receivables 
2,200
1,817
2,800
18,400
20,600
64,605
54,900
35,800
143,500
58,034
29,900
42,500
34,700
73,697
80,000
132,000
43,500
39,001
36,800
65,100
52,800
31,756
40,800
45,800
34,700
161,334
174,400
181,800
190,500
42,713
39,600
36,100
53,100
46,478
33,700
305,100
34,500
51,291
28,300
48,400
68,300
198,743
128,500
164,900
136,500
68,137
97,400
133,800
205,400
122,731
138,100
116,000
190,600
206,212
81,400
196,200
106,918
161,753
70,317
74,494
514,013
158,293
29,817
19,720
35,774
47,708
38,902
56,166
48,607
52,572
20,125
82,188
42,088
69,029
229,534
337,485
154,286
176,020
182,603
367,792
346,188
447,950
321,223
526,010
678,605
678,605526,010321,223447,950346,188367,792182,603176,020154,286337,485229,53469,02942,08882,18820,12552,57248,60756,16638,90247,70835,77419,72029,817158,293514,01374,49470,317161,753106,918196,20081,400206,212190,600116,000138,100122,731205,400133,80097,40068,137136,500164,900128,500198,74368,30048,40028,30051,29134,500305,10033,70046,47853,10036,10039,60042,713190,500181,800174,400161,33434,70045,80040,80031,75652,80065,10036,80039,00143,500132,00080,00073,69734,70042,50029,90058,034143,50035,80054,90064,60520,60018,4002,8001,8172,200
       Other Current Assets 
0
380
0
0
0
1,401
0
0
0
11,131
0
0
0
2,297
0
0
85,200
3,467
0
0
0
8,860
0
9,500
37,100
12,598
12,400
8,700
32,000
51,792
72,000
86,800
77,000
228,559
117,400
396,000
145,700
160,834
164,600
173,200
182,100
308,408
241,000
269,000
206,500
115,816
128,600
133,800
219,700
134,637
152,400
133,300
202,400
217,569
104,300
208,900
122,551
176,402
85,671
74,520
511,632
150,671
33,759
24,712
39,956
42,005
46,834
68,259
60,906
90,154
53,660
122,068
84,861
81,748
238,674
353,218
164,652
190,358
201,448
401,092
402,618
556,981
388,785
10,256
1,854
1,85410,256388,785556,981402,618401,092201,448190,358164,652353,218238,67481,74884,861122,06853,66090,15460,90668,25946,83442,00539,95624,71233,759150,671511,63274,52085,671176,402122,551208,900104,300217,569202,400133,300152,400134,637219,700133,800128,600115,816206,500269,000241,000308,408182,100173,200164,600160,834145,700396,000117,400228,55977,00086,80072,00051,79232,0008,70012,40012,59837,1009,50008,8600003,46785,200002,29700011,1310001,4010003800
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
715,123
744,500
762,000
807,700
829,188
852,300
872,200
873,600
865,228
842,900
646,300
635,700
644,260
653,000
556,000
585,700
551,837
560,500
582,100
592,500
568,145
540,000
518,000
552,743
585,005
613,956
636,508
584,413
541,131
534,524
508,209
341,236
382,186
401,385
445,467
480,586
552,680
683,806
792,815
882,142
6,392,194
6,374,683
6,354,989
6,359,911
6,378,017
6,405,533
6,426,395
6,523,564
7,335,630
7,552,124
7,670,807
7,749,236
7,749,2367,670,8077,552,1247,335,6306,523,5646,426,3956,405,5336,378,0176,359,9116,354,9896,374,6836,392,194882,142792,815683,806552,680480,586445,467401,385382,186341,236508,209534,524541,131584,413636,508613,956585,005552,743518,000540,000568,145592,500582,100560,500551,837585,700556,000653,000644,260635,700646,300842,900865,228873,600872,200852,300829,188807,700762,000744,500715,123000000000000000000000000000000000
       Property Plant Equipment 
0
8,947
8,600
10,300
11,700
10,182
19,600
36,000
33,300
24,080
78,200
92,700
128,300
207,488
0
0
0
346,087
0
0
0
408,057
417,800
390,900
378,200
379,233
373,500
370,200
365,700
340,392
343,600
339,300
346,300
354,485
348,300
347,800
355,800
360,815
362,600
360,100
461,500
348,780
342,100
332,600
328,600
320,534
313,900
310,900
316,700
322,746
325,900
331,200
333,700
336,573
327,200
323,100
318,697
325,760
322,039
326,837
322,512
326,336
319,251
314,673
309,916
347,978
369,628
414,021
448,979
518,808
652,563
763,508
854,558
906,494
946,659
977,745
991,709
1,083,143
1,166,417
1,231,841
1,341,961
1,488,511
1,619,063
1,687,612
1,714,614
1,714,6141,687,6121,619,0631,488,5111,341,9611,231,8411,166,4171,083,143991,709977,745946,659906,494854,558763,508652,563518,808448,979414,021369,628347,978309,916314,673319,251326,336322,512326,837322,039325,760318,697323,100327,200336,573333,700331,200325,900322,746316,700310,900313,900320,534328,600332,600342,100348,780461,500360,100362,600360,815355,800347,800348,300354,485346,300339,300343,600340,392365,700370,200373,500379,233378,200390,900417,800408,057000346,087000207,488128,30092,70078,20024,08033,30036,00019,60010,18211,70010,3008,6008,9470
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,334
1,331
1,384
0
0
0
0
0
0
0
0
0
0
0
0
0000000000001,3841,3311,3340000000000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
0
0
0
0
1,233
0
0
0
5,421
0
0
0
9,500
0
0
0
18,730
0
0
0
12,969
0
10,100
8,700
24,363
31,900
46,200
57,800
87,229
101,700
110,100
117,400
126,800
129,100
131,600
131,600
133,585
132,000
131,800
17,800
131,926
129,100
133,300
135,200
148,485
157,000
65,400
94,800
104,629
112,700
115,300
120,100
109,194
90,400
94,700
96,867
108,189
120,756
131,698
103,098
83,019
71,796
49,900
29,862
32,992
30,422
30,100
30,259
32,500
29,909
27,976
26,200
5,484,255
5,424,399
5,373,285
5,364,074
5,290,752
5,234,554
5,189,871
5,162,139
5,803,956
5,880,752
5,813,476
5,864,519
5,864,5195,813,4765,880,7525,803,9565,162,1395,189,8715,234,5545,290,7525,364,0745,373,2855,424,3995,484,25526,20027,97629,90932,50030,25930,10030,42232,99229,86249,90071,79683,019103,098131,698120,756108,18996,86794,70090,400109,194120,100115,300112,700104,62994,80065,400157,000148,485135,200133,300129,100131,92617,800131,800132,000133,585131,600131,600129,100126,800117,400110,100101,70087,22957,80046,20031,90024,3638,70010,100012,96900018,7300009,5000005,4210001,23300000
       Other Assets 
0
457
0
0
0
101,362
90,400
78,300
41,400
46,913
25,400
40,400
59,300
84,355
354,200
403,800
344,300
126,273
500,100
518,400
561,500
160,177
159,300
181,500
242,800
159,588
180,700
167,200
217,200
253,848
268,200
317,200
334,400
402,687
396,200
414,200
451,900
489,758
489,700
512,100
519,100
516,448
500,800
313,700
307,100
323,726
339,100
245,100
269,000
229,091
234,600
250,900
258,800
231,572
212,800
194,900
234,046
259,245
291,917
309,671
261,901
214,795
215,273
193,536
31,320
34,208
1,335
1,346
1,348
1,372
0
1,331
1,384
1,445
3,625
3,959
4,128
4,122
4,562
4,683
19,464
43,163
52,309
169,719
170,103
170,103169,71952,30943,16319,4644,6834,5624,1224,1283,9593,6251,4451,3841,33101,3721,3481,3461,33534,20831,320193,536215,273214,795261,901309,671291,917259,245234,046194,900212,800231,572258,800250,900234,600229,091269,000245,100339,100323,726307,100313,700500,800516,448519,100512,100489,700489,758451,900414,200396,200402,687334,400317,200268,200253,848217,200167,200180,700159,588242,800181,500159,300160,177561,500518,400500,100126,273344,300403,800354,20084,35559,30040,40025,40046,91341,40078,30090,400101,3620004570
> Total Liabilities 
18,500
17,731
14,500
35,100
31,000
121,262
39,900
31,300
74,500
82,168
28,700
23,600
165,900
286,711
353,800
295,300
271,100
298,460
270,700
251,200
270,800
263,021
214,800
207,900
200,400
514,387
504,700
507,600
623,100
679,133
541,800
567,900
525,900
566,890
542,700
738,200
675,300
656,693
650,600
664,000
646,200
768,987
690,900
669,600
591,700
539,505
427,700
531,500
457,800
475,916
353,700
330,200
382,300
635,174
1,195,000
871,800
836,476
646,784
650,177
677,233
668,325
806,461
841,796
945,594
278,852
646,374
696,763
905,731
824,772
880,308
674,663
685,457
671,116
5,181,613
3,894,718
3,991,561
4,187,018
3,864,711
3,827,691
4,219,828
4,346,825
4,714,602
4,866,251
5,149,461
5,337,170
5,337,1705,149,4614,866,2514,714,6024,346,8254,219,8283,827,6913,864,7114,187,0183,991,5613,894,7185,181,613671,116685,457674,663880,308824,772905,731696,763646,374278,852945,594841,796806,461668,325677,233650,177646,784836,476871,8001,195,000635,174382,300330,200353,700475,916457,800531,500427,700539,505591,700669,600690,900768,987646,200664,000650,600656,693675,300738,200542,700566,890525,900567,900541,800679,133623,100507,600504,700514,387200,400207,900214,800263,021270,800251,200270,700298,460271,100295,300353,800286,711165,90023,60028,70082,16874,50031,30039,900121,26231,00035,10014,50017,73118,500
   > Total Current Liabilities 
18,500
17,634
13,800
32,900
28,900
116,669
35,500
27,800
70,900
77,201
24,000
14,100
41,900
240,604
263,500
212,800
150,500
86,260
53,400
38,100
83,900
112,425
90,900
89,300
84,900
379,714
396,200
401,900
520,800
626,473
444,700
473,400
434,600
453,866
428,800
619,900
565,800
550,184
549,900
566,200
547,200
663,578
589,200
567,300
492,800
485,262
372,700
436,400
363,900
389,252
269,200
247,500
292,300
583,278
1,143,600
820,900
786,603
590,234
594,142
621,712
612,720
751,798
787,665
891,995
250,736
246,614
297,540
507,046
426,625
482,695
222,462
236,967
226,277
2,047,221
710,004
735,553
1,778,651
952,310
1,449,577
1,827,945
2,312,735
1,908,558
2,031,266
2,196,134
2,313,478
2,313,4782,196,1342,031,2661,908,5582,312,7351,827,9451,449,577952,3101,778,651735,553710,0042,047,221226,277236,967222,462482,695426,625507,046297,540246,614250,736891,995787,665751,798612,720621,712594,142590,234786,603820,9001,143,600583,278292,300247,500269,200389,252363,900436,400372,700485,262492,800567,300589,200663,578547,200566,200549,900550,184565,800619,900428,800453,866434,600473,400444,700626,473520,800401,900396,200379,71484,90089,30090,900112,42583,90038,10053,40086,260150,500212,800263,500240,60441,90014,10024,00077,20170,90027,80035,500116,66928,90032,90013,80017,63418,500
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,800
12,100
110,800
8,996
101,400
108,300
134,300
9,002
8,800
9,200
9,000
52,397
52,100
9,000
8,800
8,481
8,500
8,500
2,300
1,885
1,900
1,900
1,956
1,969
1,999
2,024
2,136
2,136
2,136
2,136
2,136
2,152
113,042
290,481
251,213
248,877
16,460
16,438
16,511
1,388,967
16,041
15,997
22,858
22,596
23,063
329,957
851,846
895,639
897,294
0
0
00897,294895,639851,846329,95723,06322,59622,85815,99716,0411,388,96716,51116,43816,460248,877251,213290,481113,0422,1522,1362,1362,1362,1362,1362,0241,9991,9691,9561,9001,9001,8852,3008,5008,5008,4818,8009,00052,10052,3979,0009,2008,8009,002134,300108,300101,4008,996110,80012,10014,8000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
32,109
31,394
30,786
2,154
2,281
2,151
2,392
2,151
2,536
2,148
2,148
2,148
1,375,116
2,163
2,163
2,163
2,174
2,173
308,878
830,787
874,373
874,372
874,373
874,372
874,372874,373874,372874,373830,787308,8782,1732,1742,1632,1632,1631,375,1162,1482,1482,1482,5362,1512,3922,1512,2812,15430,78631,39432,1090000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
0
6,398
0
0
0
89,148
0
0
0
49,751
0
0
0
85,389
0
0
0
28,698
0
0
0
19,689
0
20,300
17,400
21,588
16,300
18,900
23,100
63,825
34,500
49,600
33,000
48,020
23,600
59,600
45,200
50,085
63,700
75,500
39,800
84,401
72,600
64,100
82,100
104,167
41,300
83,600
88,600
113,510
61,900
87,400
69,800
58,666
67,200
47,200
51,557
69,574
35,429
56,397
45,909
71,958
42,126
34,322
36,452
82,901
36,261
71,545
37,048
93,962
93,881
112,051
116,951
112,088
150,910
201,496
296,174
345,320
273,291
298,545
222,795
263,611
204,418
195,456
381,904
381,904195,456204,418263,611222,795298,545273,291345,320296,174201,496150,910112,088116,951112,05193,88193,96237,04871,54536,26182,90136,45234,32242,12671,95845,90956,39735,42969,57451,55747,20067,20058,66669,80087,40061,900113,51088,60083,60041,300104,16782,10064,10072,60084,40139,80075,50063,70050,08545,20059,60023,60048,02033,00049,60034,50063,82523,10018,90016,30021,58817,40020,300019,68900028,69800085,38900049,75100089,1480006,3980
       Other Current Liabilities 
0
6,225
13,800
32,900
28,900
923
35,500
27,800
70,900
4,512
24,000
14,100
41,900
24,176
263,500
212,800
150,500
32,649
53,400
38,100
83,900
40,997
90,900
28,000
27,500
342,965
342,200
346,300
461,800
480,536
376,100
390,600
369,500
405,846
390,400
548,200
409,800
491,103
384,800
382,400
373,100
570,175
507,800
494,000
401,700
328,698
279,300
343,800
266,500
267,261
198,800
151,600
220,200
522,727
1,074,500
771,800
733,090
518,691
556,714
563,291
564,675
677,704
743,403
855,537
212,148
161,561
148,237
145,020
138,364
139,856
112,121
108,478
92,815
546,166
543,053
518,060
1,459,619
584,394
1,153,223
1,199,443
1,238,094
749,308
929,554
1,019,646
940,262
940,2621,019,646929,554749,3081,238,0941,199,4431,153,223584,3941,459,619518,060543,053546,16692,815108,478112,121139,856138,364145,020148,237161,561212,148855,537743,403677,704564,675563,291556,714518,691733,090771,8001,074,500522,727220,200151,600198,800267,261266,500343,800279,300328,698401,700494,000507,800570,175373,100382,400384,800491,103409,800548,200390,400405,846369,500390,600376,100480,536461,800346,300342,200342,96527,50028,00090,90040,99783,90038,10053,40032,649150,500212,800263,50024,17641,90014,10024,0004,51270,90027,80035,50092328,90032,90013,8006,2250
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
113,024
113,900
118,300
109,500
106,509
100,700
97,800
99,000
105,409
101,700
102,300
98,900
54,243
55,000
95,100
93,900
86,664
84,500
82,700
90,000
51,896
51,400
50,900
49,873
56,550
56,035
55,521
55,605
54,663
54,131
53,599
28,116
399,760
399,223
398,685
398,147
397,613
452,201
448,490
444,839
3,134,392
3,184,714
3,256,008
2,408,367
2,912,401
2,378,114
2,391,883
2,034,090
2,806,044
2,834,985
2,953,327
3,023,692
3,023,6922,953,3272,834,9852,806,0442,034,0902,391,8832,378,1142,912,4012,408,3673,256,0083,184,7143,134,392444,839448,490452,201397,613398,147398,685399,223399,76028,11653,59954,13154,66355,60555,52156,03556,55049,87350,90051,40051,89690,00082,70084,50086,66493,90095,10055,00054,24398,900102,300101,700105,40999,00097,800100,700106,509109,500118,300113,900113,024000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
0
1,036
4,400
500
3,600
2,063
4,700
9,500
124,000
6,860
0
0
9,300
4,282
0
0
0
1,620
0
1,900
1,500
0
0
0
0
1
0
0
0
11,099
11,100
11,100
11,100
8,708
8,700
8,700
8,700
15,256
15,300
15,300
15,300
17,262
18,400
18,900
19,400
14,830
14,800
14,800
14,800
18,603
18,600
18,600
18,057
25,226
25,226
25,226
25,226
24,949
24,949
24,949
0
0
0
0
0
0
0
0
0
2,691,400
2,715,580
2,789,858
1,954,280
2,464,932
1,915,908
1,934,498
1,953,519
2,729,601
2,759,251
2,881,056
2,956,888
2,956,8882,881,0562,759,2512,729,6011,953,5191,934,4981,915,9082,464,9321,954,2802,789,8582,715,5802,691,40000000000024,94924,94924,94925,22625,22625,22625,22618,05718,60018,60018,60314,80014,80014,80014,83019,40018,90018,40017,26215,30015,30015,30015,2568,7008,7008,7008,70811,10011,10011,10011,099000100001,5001,90001,6200004,2829,300006,860124,0009,5004,7002,0633,6005004,4001,03600000
> Total Stockholder Equity
88,700
44,143
22,600
79,600
60,700
196,439
248,600
239,700
331,100
347,001
384,700
378,400
345,500
315,390
303,500
699,400
692,200
628,229
814,900
778,400
739,600
686,759
1,090,600
1,082,200
1,075,800
1,216,971
1,225,600
1,144,500
1,022,000
1,011,420
900,100
846,600
793,700
704,214
899,600
822,300
695,300
810,435
726,500
1,276,200
1,196,400
1,207,600
1,195,000
1,019,700
1,052,300
999,676
961,500
966,100
996,600
976,290
978,700
925,000
881,500
1,252,094
1,268,900
1,348,800
1,302,663
1,342,479
1,212,433
1,804,481
1,914,596
2,017,237
2,039,770
2,122,605
2,637,388
2,506,297
2,333,053
2,249,831
2,278,541
2,180,628
2,087,152
1,986,577
1,892,102
1,865,455
5,110,553
5,251,149
5,264,117
4,894,353
5,920,743
5,788,550
5,770,699
7,374,667
7,125,298
6,879,095
6,957,830
6,957,8306,879,0957,125,2987,374,6675,770,6995,788,5505,920,7434,894,3535,264,1175,251,1495,110,5531,865,4551,892,1021,986,5772,087,1522,180,6282,278,5412,249,8312,333,0532,506,2972,637,3882,122,6052,039,7702,017,2371,914,5961,804,4811,212,4331,342,4791,302,6631,348,8001,268,9001,252,094881,500925,000978,700976,290996,600966,100961,500999,6761,052,3001,019,7001,195,0001,207,6001,196,4001,276,200726,500810,435695,300822,300899,600704,214793,700846,600900,1001,011,4201,022,0001,144,5001,225,6001,216,9711,075,8001,082,2001,090,600686,759739,600778,400814,900628,229692,200699,400303,500315,390345,500378,400384,700347,001331,100239,700248,600196,43960,70079,60022,60044,14388,700
   Common Stock
0
33,553
33,600
79,600
45,100
45,145
248,600
45,100
45,100
45,145
45,100
46,400
46,400
46,395
46,400
58,000
58,000
57,971
63,800
63,800
63,800
63,762
76,600
78,200
78,200
78,156
78,200
78,200
78,200
78,156
78,200
78,200
78,200
79,517
119,100
119,100
119,100
129,620
129,600
258,800
258,800
260,944
260,900
260,900
260,900
260,944
260,900
260,900
260,900
260,944
260,900
261,100
261,100
276,712
277,300
278,100
278,344
280,197
280,657
309,282
309,341
313,539
314,236
314,693
319,814
322,451
322,451
323,106
323,106
323,106
323,106
323,206
323,891
323,891
583,003
584,501
584,501
584,501
637,368
638,172
640,651
704,684
704,729
704,793
706,943
706,943704,793704,729704,684640,651638,172637,368584,501584,501584,501583,003323,891323,891323,206323,106323,106323,106323,106322,451322,451319,814314,693314,236313,539309,341309,282280,657280,197278,344278,100277,300276,712261,100261,100260,900260,944260,900260,900260,900260,944260,900260,900260,900260,944258,800258,800129,600129,620119,100119,100119,10079,51778,20078,20078,20078,15678,20078,20078,20078,15678,20078,20076,60063,76263,80063,80063,80057,97158,00058,00046,40046,39546,40046,40045,10045,14545,10045,100248,60045,14545,10079,60033,60033,5530
   Retained Earnings Total Equity0000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000000000000-233-233-233-233-233-233-111-111-111-11100000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
34,013
13,200
-8,200
28,400
29,407
44,600
57,600
28,500
23,623
40,400
33,500
46,300
683,032
38,100
48,000
58,100
63,325
64,600
43,800
18,600
3,061
-41,300
-28,900
-27,813
-4,276
-8,389
-22,769
-9,800
-28,200
-7,550
29,079
13,067
26,963
36,164
56,134
53,076
60,400
63,649
67,864
60,157
81,557
82,681
90,506
92,139
63,493
59,311
63,994
60,417
81,075
97,009
93,063
120,371
120,37193,06397,00981,07560,41763,99459,31163,49392,13990,50682,68181,55760,15767,86463,64960,40053,07656,13436,16426,96313,06729,079-7,550-28,200-9,800-22,769-8,389-4,276-27,813-28,900-41,3003,06118,60043,80064,60063,32558,10048,00038,100683,03246,30033,50040,40023,62328,50057,60044,60029,40728,400-8,20013,20034,013000000000000000000000000000000000



Balance Sheet

Currency in DKK. All numbers in thousands.