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

I'm going to help you getting a better view of Cresud SACIF y A. 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.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Cresud (30 sec.)

What can you expect buying and holding a share of Cresud? (30 sec.)

How much money do you get?

$4.30

When do you have the money?

1 year

How often do you get paid?

92.5%

What is your share worth?

Current worth

$23.30

Expected worth in 1 year

$41.45

How sure are you?

55.0%

+ What do you gain per year?

Total Gains per Share

$22.44

Return On Investment

250.5%

For what price can you sell your share?

Current Price per Share

$8.96

Expected price per share

$6.8678082556591 - $10.04

How sure are you?

50%

1. Valuation of Cresud (5 min.)

Live pricePrice per Share (EOD)

$8.96

Book Value per Share

$23.30

Intrinsic Value Per Share

$-45.95 - $-8.08

Total Value Per Share

$-22.65 - $15.23

My calculation of the intrinsic value of Cresud is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($-0.02) 3Y: ($-0.09) TTM: ($-0.32)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($-0.08) TTM: ($-0.30)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-1.10	$-0.18	$-1.61 - $-0.25
2	$-3.26	$-0.51	$-2.84 - $-0.42
3	$-6.36	$-1.01	$-4.08 - $-0.60
4	$-10.28	$-1.65	$-5.31 - $-0.78
5	$-14.92	$-2.43	$-6.55 - $-0.96
6	$-20.19	$-3.33	$-7.78 - $-1.14
7	$-26.01	$-4.36	$-9.02 - $-1.31
8	$-32.28	$-5.49	$-10.26 - $-1.49
9	$-38.95	$-6.74	$-11.49 - $-1.67
10	$-45.95	$-8.08	$-12.73 - $-1.85

2. Growth of Cresud (5 min.)

Is Cresud growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1.3b	$258.5m	$486.6m	65.3%

How much money is Cresud making?

	Current year	Previous year	Grow	Grow %
Making money	$8.7m	$12.3m	-$3.6m	-41.3%
Net Profit Margin	18.0%	15.0%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Cresud (5 min.)

4. Comparing to competitors in the Conglomerates industry (5 min.)

Industry Rankings (Conglomerates)

Richest
#84 / 247

Most Revenue
#150 / 247

Most Profit
#125 / 247

Most Efficient
#26 / 247

What can you expect buying and holding a share of Cresud? (5 min.)

Welcome investor! Cresud's management wants to use your money to grow the business. In return you get a share of Cresud.

What can you expect buying and holding a share of Cresud?

First you should know what it really means to hold a share of Cresud. And how you can make/lose money.

Speculation

The Price per Share of Cresud is $8.96. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Cresud.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Cresud, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $23.30. Based on the TTM, the Book Value Change Per Share is $4.54 per quarter. Based on the YOY, the Book Value Change Per Share is $1.22 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $1.07 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Cresud.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	-0.52	-5.8%	-0.01	-0.1%	0.11	1.3%	0.01	0.2%	0.01	0.1%
Usd Book Value Change Per Share	22.41	250.2%	4.54	50.6%	1.22	13.7%	1.15	12.9%	0.58	6.5%
Usd Dividend Per Share	4.14	46.2%	1.07	12.0%	0.05	0.5%	0.23	2.5%	0.11	1.3%
Usd Total Gains Per Share	26.55	296.3%	5.61	62.6%	1.27	14.2%	1.38	15.4%	0.70	7.8%
Usd Price Per Share	9.48	-	7.57	-	6.35	-	6.31	-	10.70	-
Price to Earnings Ratio	-4.59	-	15.72	-	1.80	-	-92.13	-	2,176.18	-
Price-to-Total Gains Ratio	0.36	-	-53.18	-	192.51	-	119.19	-	808.17	-
Price to Book Ratio	0.41	-	4.21	-	12.36	-	15.02	-	291.04	-
Price-to-Total Gains Ratio	0.36	-	-53.18	-	192.51	-	119.19	-	808.17	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	8.96
Number of shares	111

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	1.07	0.23
Usd Book Value Change Per Share	4.54	1.15
Usd Total Gains Per Share	5.61	1.38
Gains per Quarter (111 shares)	622.75	153.08
Gains per Year (111 shares)	2,491.01	612.33

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	477	2014	2481	100	512	602
2	954	4028	4972	201	1024	1214
3	1431	6042	7463	301	1536	1826
4	1908	8057	9954	401	2048	2438
5	2384	10071	12445	502	2560	3050
6	2861	12085	14936	602	3072	3662
7	3338	14099	17427	702	3584	4274
8	3815	16113	19918	802	4096	4886
9	4292	18127	22409	903	4608	5498
10	4769	20141	24900	1003	5120	6110

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	8.0	4.0	0.0	66.7%	10.0	10.0	0.0	50.0%	20.0	20.0	0.0	50.0%	62.0	28.0	0.0	68.9%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	7.0	5.0	0.0	58.3%	11.0	9.0	0.0	55.0%	22.0	18.0	0.0	55.0%	51.0	29.0	10.0	56.7%
Dividend per Share	4.0	0.0	0.0	100.0%	10.0	0.0	2.0	83.3%	18.0	0.0	2.0	90.0%	37.0	0.0	3.0	92.5%	77.0	0.0	13.0	85.6%
Total Gains per Share	2.0	2.0	0.0	50.0%	7.0	5.0	0.0	58.3%	11.0	9.0	0.0	55.0%	22.0	18.0	0.0	55.0%	59.0	28.0	3.0	65.6%

Fundamentals of Cresud

About Cresud SACIF y A

https://www.cresud.com.ar
Conglomerates
2760
Carlos M. Della Paolera 261, Buenos Aires, Argentina, C1001ADA
Google Maps Bing Maps

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, engages in the production of agricultural commodities in Brazil and other Latin American countries. The company operates through Agricultural Business, and Business Urban Properties and Investments segments. It is also involved in the management, development, and ownership of shopping malls, office buildings, and hotels; sale of grain derivatives, such as flour and oil; production and sale of crops, such as soybean, sugarcane, wheat, corn, oilseed, and sunflower, as well as sorghum and peanuts; and breeding, purchasing, and/or fattening of cattle for sale to slaughterhouses and supermarkets. In addition, it leases its farms to third parties for agriculture, cattle breeding, and seed production; and offers agricultural services. The company was incorporated in 1936 and is headquartered in Buenos Aires, Argentina.

Fundamental data was last updated by Penke on 2024-04-11 05:01:05.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating efficient.
The company is inefficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is fair priced.
Based on how much money comes from the company's main activities, the company is underpriced.

1.1. Profitability of Cresud SACIF y A.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Cresud earns for each $1 of revenue.

Above 10% is considered healthy but always compare Cresud to the Conglomerates industry mean.
A Net Profit Margin of -13.5% means that $-0.14 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Cresud SACIF y A:

The MRQ is -13.5%. The company is making a huge loss. -2
The TTM is 18.0%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	-13.5%	TTM	18.0%	-31.5%
TTM	18.0%	YOY	15.0%	+2.9%
TTM	18.0%	5Y	1.7%	+16.2%
5Y	1.7%	10Y	-3.2%	+4.9%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	-13.5%	3.7%	-17.2%
TTM	18.0%	3.6%	+14.4%
YOY	15.0%	4.1%	+10.9%
5Y	1.7%	3.3%	-1.6%
10Y	-3.2%	3.9%	-7.1%

Measures how much net profit Cresud earns for each $1 of revenue.

Revenue is the amount of profit Cresud generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Cresud earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Cresud to the Conglomerates industry mean.
Can be used to compare companies within the Conglomerates industry.

You typically want a high profit margin. This means that for each $1 in sales, Cresud makes more profit. This shows the investor how efficiently Cresud is operating in general and compared to other companies in the same industry. Cresud operates in the Conglomerates industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Cresud. If profit margins remain low (compared to the Conglomerates industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Cresud is -0.14. This means that Cresud earned $-0.14 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Conglomerates industry is 3.7%.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Cresud with other companies in the same industry (Conglomerates).
Net profit margin should rise over the years.
Can be influenced when Cresud sells assets (profit will increase while costs remain the same).
It won’t show what part of Cresud is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Cresud

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Cresud = -25,297,821
Total revenue MRQ Cresud = 186,793,530
$-25,297,821 / $186,793,530 = -0.14 or -13.5%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Cresud is using its assets to generate profit.

Above 5% is considered healthy but always compare Cresud to the Conglomerates industry mean.
-0.9% Return on Assets means that Cresud generated $-0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Cresud SACIF y A:

The MRQ is -0.9%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 1.1%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	-0.9%	TTM	1.1%	-2.0%
TTM	1.1%	YOY	1.6%	-0.6%
TTM	1.1%	5Y	0.4%	+0.7%
5Y	0.4%	10Y	-0.1%	+0.4%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	-0.9%	1.0%	-1.9%
TTM	1.1%	1.0%	+0.1%
YOY	1.6%	1.2%	+0.4%
5Y	0.4%	0.9%	-0.5%
10Y	-0.1%	1.1%	-1.2%

Shows how efficient Cresud is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Cresud to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Cresud is using its resources to generate profit. If the return on assets (-0.9%) from Cresud are higher than the Conglomerates mean (1.0%) that means Cresud is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Cresud is -0.9%. This means the company generated $-0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Conglomerates industry is 1.0%.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Cresud

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Cresud = -25,297,821
Total assets MRQ (balance sheet) from Cresud = 2,693,437,928
-25,297,821 / 2,693,437,928 = -0.01 or -0.9%

ROA is an important ratio as it will tell you how effectively Cresud is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

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

Above 15%-20% is considered healthy but always compare Cresud to the Conglomerates industry mean.
-5.3% Return on Equity means Cresud generated $-0.05 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Cresud SACIF y A:

The MRQ is -5.3%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is 5.4%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	-5.3%	TTM	5.4%	-10.8%
TTM	5.4%	YOY	9.6%	-4.2%
TTM	5.4%	5Y	-2.3%	+7.7%
5Y	-2.3%	10Y	5.4%	-7.7%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	-5.3%	2.4%	-7.7%
TTM	5.4%	2.6%	+2.8%
YOY	9.6%	4.0%	+5.6%
5Y	-2.3%	2.7%	-5.0%
10Y	5.4%	3.2%	+2.2%

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

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Cresud to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Conglomerates industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Cresud is -5.3%. This means Cresud generated $-0.05 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Conglomerates industry is 2.4%.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if Cresud existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Cresud

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Cresud = -25,297,821
Shareholders equity (balance sheet) MRQ Cresud = 474,850,979
-25,297,821 / 474,850,979 = -0.05 or -5.3%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Cresud SACIF y A.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Cresud is operating .

Measures how much profit Cresud makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Cresud to the Conglomerates industry mean.
An Operating Margin of 30.1% means the company generated $0.30 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Cresud SACIF y A:

The MRQ is 30.1%. The company is operating very efficient. +2
The TTM is 21.7%. The company is operating efficient. +1

Trends

Current period		Compared to		+/-
MRQ	30.1%	TTM	21.7%	+8.4%
TTM	21.7%	YOY	11.3%	+10.4%
TTM	21.7%	5Y	38.3%	-16.6%
5Y	38.3%	10Y	22.8%	+15.4%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	30.1%	7.8%	+22.3%
TTM	21.7%	5.4%	+16.3%
YOY	11.3%	6.5%	+4.8%
5Y	38.3%	5.4%	+32.9%
10Y	22.8%	5.7%	+17.1%

Measures how efficient Cresud is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Cresud to the Conglomerates industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Cresud is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Cresud is 30.1%. This means that Cresud earned $0.30 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Conglomerates industry is 7.8%.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Cresud

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Cresud = 56,252,643
Total revenue MRQ Cresud = 186,793,530
$56,252,643 / $186,793,530 = 0.30 or 30.1%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Cresud is keeping operating costs low.

Below 1 is considered healthy (always compare to Conglomerates industry mean).
An Operation Ratio of 0.70 means that the operating costs are $0.70 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Cresud SACIF y A:

The MRQ is 0.699. The company is efficient in keeping operating costs low. +1
The TTM is 1.047. The company is inefficient in keeping operating costs low. -1

Trends

Current period		Compared to		+/-
MRQ	0.699	TTM	1.047	-0.348
TTM	1.047	YOY	0.732	+0.315
TTM	1.047	5Y	0.961	+0.086
5Y	0.961	10Y	0.915	+0.046

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	0.699	1.516	-0.817
TTM	1.047	1.493	-0.446
YOY	0.732	1.404	-0.672
5Y	0.961	1.339	-0.378
10Y	0.915	1.281	-0.366

Measures how efficient Cresud is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Cresud to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Cresud is 69.9%. This means that Cresud earned $0.70 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Conglomerates industry is 1.52.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Cresud

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(96,899,640 +33,641,249) \ 186,793,530 = 0.70

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Cresud SACIF y A.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to Conglomerates industry mean).
A Current Ratio of 1.18 means the company has $1.18 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Cresud SACIF y A:

The MRQ is 1.181. The company is just able to pay all its short-term debts.
The TTM is 1.139. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.181	TTM	1.139	+0.042
TTM	1.139	YOY	0.919	+0.220
TTM	1.139	5Y	1.167	-0.028
5Y	1.167	10Y	1.600	-0.433

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	1.181	1.453	-0.272
TTM	1.139	1.459	-0.320
YOY	0.919	1.464	-0.545
5Y	1.167	1.561	-0.394
10Y	1.600	1.545	+0.055

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

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Conglomerates industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Cresud if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Cresud is 1.18. This means Cresud has $1.18 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Conglomerates industry is 1.45.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Cresud

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
609,660,211 \ 516,164,453) = 1.18

The current ratio measures if Cresud is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Cresud is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Cresud does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Cresud is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

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

Above 1 is considered healthy but always compare Cresud to the Conglomerates industry mean.
A Quick Ratio of 1.11 means the company can pay off $1.11 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Cresud SACIF y A:

The MRQ is 1.111. The company is just able to pay all its short-term debts with the most liquid assets.
The TTM is 0.948. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	1.111	TTM	0.948	+0.163
TTM	0.948	YOY	0.701	+0.247
TTM	0.948	5Y	1.020	-0.071
5Y	1.020	10Y	1.207	-0.187

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	1.111	0.703	+0.408
TTM	0.948	0.722	+0.226
YOY	0.701	0.797	-0.096
5Y	1.020	0.857	+0.163
10Y	1.207	0.832	+0.375

1.4. Solvency of Cresud SACIF y A.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Cresud assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Cresud to Conglomerates industry mean.
A Debt to Asset Ratio of 0.58 means that Cresud assets are financed with 57.6% credit (debt) and the remaining percentage (100% - 57.6%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Cresud SACIF y A:

The MRQ is 0.576. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.557. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.576	TTM	0.557	+0.019
TTM	0.557	YOY	0.608	-0.051
TTM	0.557	5Y	0.689	-0.132
5Y	0.689	10Y	0.749	-0.059

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	0.576	0.561	+0.015
TTM	0.557	0.561	-0.004
YOY	0.608	0.564	+0.044
5Y	0.689	0.564	+0.125
10Y	0.749	0.556	+0.193

Measures how much % of Cresud assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Cresud than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Cresud to Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Cresud is 0.58. This means means that Cresud is financed with 57.6% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Conglomerates industry is 145.3%.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Cresud has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Cresud

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
1,551,079,076 \ 2,693,437,928 = 57.6% or 0.58.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

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

Below 2 is considered healthy but always compare Cresud to the Conglomerates industry mean.
A Debt to Equity ratio of 326.6% means that company has $3.27 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Cresud SACIF y A:

The MRQ is 3.266. The company is unable to pay all its debts with equity. -1
The TTM is 2.951. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	3.266	TTM	2.951	+0.316
TTM	2.951	YOY	3.955	-1.004
TTM	2.951	5Y	12.665	-9.714
5Y	12.665	10Y	25.380	-12.715

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	3.266	1.366	+1.900
TTM	2.951	1.366	+1.585
YOY	3.955	1.384	+2.571
5Y	12.665	1.587	+11.078
10Y	25.380	1.494	+23.886

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

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Cresud is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Cresud is 3.27. This means that Cresud can pay off $3.27 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Conglomerates industry is 1.37.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Cresud

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
1,551,079,076 \ 474,850,979 = 3.27 or 326.6%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Cresud SACIF y A

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Cresud generates.

Above 15 is considered overpriced but always compare Cresud to the Conglomerates industry mean.
A PE ratio of -4.59 means the investor is paying $-4.59 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Cresud SACIF y A:

The EOD is -4.340. Based on the earnings, the company is expensive. -2
The MRQ is -4.592. Based on the earnings, the company is expensive. -2
The TTM is 15.719. Based on the earnings, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	-4.340	MRQ	-4.592	+0.252
MRQ	-4.592	TTM	15.719	-20.311
TTM	15.719	YOY	1.798	+13.921
TTM	15.719	5Y	-92.130	+107.849
5Y	-92.130	10Y	2,176.179	-2,268.309

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	-4.340	7.874	-12.214
MRQ	-4.592	7.915	-12.507
TTM	15.719	7.640	+8.079
YOY	1.798	6.968	-5.170
5Y	-92.130	8.732	-100.862
10Y	2,176.179	13.576	+2,162.603

Measures how much money you pay for each share for every $1 in earnings Cresud generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Cresud to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Cresud is -4.59. This means the investor is paying $-4.59 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Conglomerates industry is 7.92.
What is the trend?
The trend is important because it shows you how Cresud is performing over time. The most recent quarter might be important if Cresud released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Cresud up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Cresud

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 56,947 = EPS
PE ratio MRQ = -4.59

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Cresud SACIF y A:

The EOD is -1.593. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is -1.686. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is 27.988. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	-1.593	MRQ	-1.686	+0.092
MRQ	-1.686	TTM	27.988	-29.674
TTM	27.988	YOY	31.003	-3.016
TTM	27.988	5Y	1,151.025	-1,123.037
5Y	1,151.025	10Y	734.413	+416.612

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	-1.593	2.124	-3.717
MRQ	-1.686	2.120	-3.806
TTM	27.988	1.299	+26.689
YOY	31.003	0.531	+30.472
5Y	1,151.025	0.942	+1,150.083
10Y	734.413	0.743	+733.670

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Conglomerates industry mean).
A PB ratio of 0.41 means the investor is paying $0.41 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Cresud SACIF y A:

The EOD is 0.384. Based on the equity, the company is cheap. +2
The MRQ is 0.407. Based on the equity, the company is cheap. +2
The TTM is 4.212. Based on the equity, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	0.384	MRQ	0.407	-0.022
MRQ	0.407	TTM	4.212	-3.805
TTM	4.212	YOY	12.361	-8.149
TTM	4.212	5Y	15.024	-10.812
5Y	15.024	10Y	291.037	-276.013

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	0.384	0.971	-0.587
MRQ	0.407	0.957	-0.550
TTM	4.212	0.968	+3.244
YOY	12.361	1.089	+11.272
5Y	15.024	1.100	+13.924
10Y	291.037	1.295	+289.742

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Cresud SACIF y A.

3.1. Institutions holding Cresud SACIF y A

Institutions are holding 13.982% of the shares of Cresud SACIF y A.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Macquarie Group Ltd	3.9471	0.0254	2321816	-45523	-1.923
2023-12-31	683 Capital Management LLC	1.4719	0.6723	865853	865853	0
2023-12-31	Kopernik Global Investors, LLC	1.3241	0.7647	778894	778894	0
2023-12-31	Millennium Management LLC	1.0339	0.0025	608200	288654	90.3325
2023-12-31	Helikon Investments Ltd	0.9546	0.5211	561511	561511	0
2023-12-31	VR Advisory Services Ltd	0.7005	1.4834	412049	412049	0
2023-12-31	Credit Suisse First Boston (CSFB)	0.3577	0.0019	210440	-143452	-40.5355
2023-12-31	Arrowstreet Capital Limited Partnership	0.3573	0.0021	210168	160650	324.4275
2023-12-31	Glenorchy Capital Ltd	0.3173	0.6857	186657	186657	0
2023-12-31	Mirae Asset Global Investments (Korea) Co Ltd	0.287	0.0033	168852	49416	41.3745
2023-12-31	BlackRock Inc	0.2287	0	134504	134504	0
2023-12-31	Marshall Wace Asset Management Ltd	0.2236	0.0021	131558	131558	0
2023-12-31	SEI Investments Co	0.211	0.0019	124127	29523	31.2069
2023-12-31	Citigroup Inc	0.2003	0.0008	117796	117796	0
2023-12-31	Quadrature Capital LLP	0.1832	0.0184	107750	50363	87.7603
2023-12-31	Morgan Stanley - Brokerage Accounts	0.1393	0.0001	81959	65928	411.2532
2023-12-31	Manufacturers Life Insurance Co	0.0975	0.0003	57371	57371	0
2023-12-31	Jump Financial, LLC	0.0946	0.0174	55620	38957	233.7934
2023-12-31	O'Shaughnessy Asset Management LLC	0.0807	0.006	47469	-2953	-5.8566
2023-12-31	SIMPLEX TRADING, LLC	0.0752	0.0003	44228	44228	0
Total		12.2855	4.2097	7226822	+3781984	+52.3%

3.2. Funds holding Cresud SACIF y A

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Macquarie Emerging Markets Equity	2.8501	0.3218	1676545	8	0.0005
2024-02-29	Delaware Emerging Markets Instl	2.8501	0.2532	1676544	-1	-0.0001
2024-02-29	Kopernik Global All-Cap I	0.6754	0.1507	397314	0	0
2024-02-29	Delaware VIP Emerging Markets Std	0.4998	0.3701	294024	-1	-0.0003
2024-02-29	Heptagon Kopernik Glb AllCp Eq C $ Acc	0.3866	0.1498	227408	0	0
2024-03-28	Global X MSCI Argentina ETF	0.3719	1.0658	218777	0	0
2023-12-31	CS (Lux) Global Value Equity IB EUR	0.323	1.5876	190000	-52364	-21.6055
2024-02-29	Warburg Value B	0.2413	1.2329	141970	0	0
2024-03-29	iShares Global Agriculture ETF Comm	0.2396	0.5299	140927	0	0
2024-02-29	Lasixx Fund Forte	0.2184	0.9959	128452	1720	1.3572
2024-02-29	Macquarie Emerging Markets Trust Cl A	0.1608	0.1777	94604	0	0
2023-12-31	Mercator International Opportunity Instl	0.0839	2.0753	49349	-43940	-47.1009
2023-12-31	Modern Capital Tactical Income A	0.0809	1.1404	47604	34243	256.2907
2024-01-31	Eaton Vance Emerg & Frntr Countrs Eq I	0.0802	0.0695	47151	5900	14.3027
2024-02-29	Panda Agriculture & Water Fund FI	0.0734	3.4732	43158	0	0
2024-02-29	Koala Capital SICAV	0.0711	1.4629	41829	0	0
2024-02-29	Fidelity Nasdaq Composite Index	0.0575	0.0017	33826	0	0
2024-02-29	Kopernik Global All-Cap CIT 2	0.0502	0.158	29523	0	0
2024-02-29	FEKUVA SICAV - LOKACI Fonds EUR	0.0426	1.4937	25030	326	1.3196
2023-12-31	SGVP Circle Fund F1 CHF	0.0412	1.0392	24236	-5050	-17.2437
Total		9.398	17.7493	5528271	-59159	-1.1%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Cresud SACIF y A compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	22.415	4.536	+394%	1.224	+1731%	1.153	+1844%	0.582	+3749%
Book Value Per Share	-	-	23.304	7.847	+197%	2.337	+897%	2.472	+843%	1.284	+1715%
Current Ratio	-	-	1.181	1.139	+4%	0.919	+28%	1.167	+1%	1.600	-26%
Debt To Asset Ratio	-	-	0.576	0.557	+3%	0.608	-5%	0.689	-16%	0.749	-23%
Debt To Equity Ratio	-	-	3.266	2.951	+11%	3.955	-17%	12.665	-74%	25.380	-87%
Dividend Per Share	-	-	4.138	1.074	+285%	0.048	+8478%	0.226	+1731%	0.113	+3550%
Eps	-	-	-0.516	-0.009	-98%	0.113	-556%	0.015	-3608%	0.007	-7273%
Free Cash Flow Per Share	-	-	-1.406	-0.316	-78%	-0.041	-97%	-0.039	-97%	-0.017	-99%
Free Cash Flow To Equity Per Share	-	-	-3.818	-1.041	-73%	0.009	-42258%	-0.216	-94%	-0.109	-97%
Gross Profit Margin	-	-	1.299	0.954	+36%	1.730	-25%	1.165	+11%	2.228	-42%
Intrinsic Value_10Y_max	-	-	-8.075	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-45.950	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	-0.175	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-1.098	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-1.010	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-6.356	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-2.427	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-14.923	-	-	-	-	-	-	-	-
Market Cap	527060352.000	-6%	557648676.000	2488821561.654	-78%	2579068028.572	-78%	2422861507.868	-77%	4544226036.823	-88%
Net Profit Margin	-	-	-0.135	0.180	-175%	0.150	-190%	0.017	-876%	-0.032	-76%
Operating Margin	-	-	0.301	0.217	+39%	0.113	+168%	0.383	-21%	0.228	+32%
Operating Ratio	-	-	0.699	1.047	-33%	0.732	-5%	0.961	-27%	0.915	-24%
Pb Ratio	0.384	-6%	0.407	4.212	-90%	12.361	-97%	15.024	-97%	291.037	-100%
Pe Ratio	-4.340	+5%	-4.592	15.719	-129%	1.798	-355%	-92.130	+1906%	2176.179	-100%
Price Per Share	8.960	-6%	9.480	7.568	+25%	6.350	+49%	6.312	+50%	10.696	-11%
Price To Free Cash Flow Ratio	-1.593	+5%	-1.686	27.988	-106%	31.003	-105%	1151.025	-100%	734.413	-100%
Price To Total Gains Ratio	0.337	-6%	0.357	-53.178	+14995%	192.508	-100%	119.194	-100%	808.174	-100%
Quick Ratio	-	-	1.111	0.948	+17%	0.701	+59%	1.020	+9%	1.207	-8%
Return On Assets	-	-	-0.009	0.011	-187%	0.016	-157%	0.004	-341%	-0.001	-95%
Return On Equity	-	-	-0.053	0.054	-198%	0.096	-155%	-0.023	-57%	0.054	-199%
Total Gains Per Share	-	-	26.552	5.610	+373%	1.273	+1986%	1.379	+1825%	0.696	+3717%
Usd Book Value	-	-	1370830622.764	745224855.691	+84%	258568200.000	+430%	275922411.138	+397%	156089323.599	+778%
Usd Book Value Change Per Share	-	-	22.415	4.536	+394%	1.224	+1731%	1.153	+1844%	0.582	+3749%
Usd Book Value Per Share	-	-	23.304	7.847	+197%	2.337	+897%	2.472	+843%	1.284	+1715%
Usd Dividend Per Share	-	-	4.138	1.074	+285%	0.048	+8478%	0.226	+1731%	0.113	+3550%
Usd Eps	-	-	-0.516	-0.009	-98%	0.113	-556%	0.015	-3608%	0.007	-7273%
Usd Free Cash Flow	-	-	-82703044.733	-6746161.183	-92%	-4001400.000	-95%	1196027.763	-7015%	1183393.232	-7089%
Usd Free Cash Flow Per Share	-	-	-1.406	-0.316	-78%	-0.041	-97%	-0.039	-97%	-0.017	-99%
Usd Free Cash Flow To Equity Per Share	-	-	-3.818	-1.041	-73%	0.009	-42258%	-0.216	-94%	-0.109	-97%
Usd Market Cap	527060352.000	-6%	557648676.000	2488821561.654	-78%	2579068028.572	-78%	2422861507.868	-77%	4544226036.823	-88%
Usd Price Per Share	8.960	-6%	9.480	7.568	+25%	6.350	+49%	6.312	+50%	10.696	-11%
Usd Profit	-	-	-30357385.093	8724953.727	-448%	12327300.000	-346%	4512250.745	-773%	1867250.613	-1726%
Usd Revenue	-	-	224152236.124	112490859.031	+99%	39933300.000	+461%	46000771.806	+387%	30183972.003	+643%
Usd Total Gains Per Share	-	-	26.552	5.610	+373%	1.273	+1986%	1.379	+1825%	0.696	+3717%
	EOD	+2 -6	MRQ	TTM	+20 -16	YOY	+20 -16	5Y	+19 -17	10Y	+18 -18

4.2. Fundamental Score

Let's check the fundamental score of Cresud SACIF y A based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-4.340
Price to Book Ratio (EOD)	Between	0-1	0.384
Net Profit Margin (MRQ)	Greater than	0	-0.135
Operating Margin (MRQ)	Greater than	0	0.301
Quick Ratio (MRQ)	Greater than	1	1.111
Current Ratio (MRQ)	Greater than	1	1.181
Debt to Asset Ratio (MRQ)	Less than	1	0.576
Debt to Equity Ratio (MRQ)	Less than	1	3.266
Return on Equity (MRQ)	Greater than	0.15	-0.053
Return on Assets (MRQ)	Greater than	0.05	-0.009
Total			5/10 (50.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
Create your own Stock Scanner

4.3. Technical Score

Let's check the technical score of Cresud SACIF y A based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	50.633
Ma 20	Greater than	Ma 50	8.999
Ma 50	Greater than	Ma 100	8.507
Ma 100	Greater than	Ma 200	8.827
Open	Greater than	Close	9.450
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Reversals in quarterly reports

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

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Net Income		15,719	-6,581	9,138	18,922	28,060	0	28,060	-58,417	-30,357

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in ARS. All numbers in thousands.

Summary

Total Assets	2,693,437,928
Total Liabilities	1,551,079,076
Total Stockholder Equity	474,850,979

	As reported
Total Liabilities	1,551,079,076
Total Stockholder Equity	+ 474,850,979
Total Assets	= 2,693,437,928

Assets

Total Assets	2,693,437,928
Total Current Assets	609,660,211
Long-term Assets	2,083,777,718

Total Current Assets

Total Current Assets (as reported)	609,660,211
Cash And Cash Equivalents	101,782,849
Short-term Investments	121,432,697
Net Receivables	228,956,917
Inventory	148,812,697
Other Current Assets	8,675,050
Total Current Assets (calculated)	609,660,211
+/-	0

Long-term Assets

Long-term Assets (as reported)	2,083,777,718
Property Plant Equipment	486,628,689
Goodwill	2,883,684
Long Term Investments	94,814,000
Intangible Assets	37,734,000
Long-term Assets Other	15,890,809
Long-term Assets (calculated)	637,951,182
+/-	1,445,826,536

Liabilities & Shareholders' Equity

Total Current Liabilities	516,164,453
Long-term Liabilities	1,034,914,623
Total Stockholder Equity	474,850,979

Total Current Liabilities

Total Current Liabilities (as reported)	516,164,453
Short-term Debt	272,666,129
Short Long Term Debt	258,603,000
Accounts payable	224,484,407
Other Current Liabilities	12,333,649
Total Current Liabilities (calculated)	768,087,185
+/-	251,922,732

Long-term Liabilities

Long-term Liabilities (as reported)	1,034,914,623
Long term Debt	482,015,000
Capital Lease Obligations	71,347,000
Long-term Liabilities (calculated)	553,362,000
+/-	481,552,623

Total Stockholder Equity

Total Stockholder Equity (as reported)	474,850,979
Common Stock	587,936
Retained Earnings	28,319,897
Accumulated Other Comprehensive Income	192,852,873
Other Stockholders Equity	243,299,346
Total Stockholder Equity (calculated)	465,060,052
+/-	9,790,927

Other

Capital Stock	588,000
Cash and Short Term Investments	223,215,546
Common Stock Shares Outstanding	56,947
Current Deferred Revenue	6,680,268
Liabilities and Stockholders Equity	2,693,437,928
Net Debt	710,093,208
Net Invested Capital	1,215,521,000
Net Working Capital	93,506,000
Property Plant and Equipment Gross	557,963,000
Short Long Term Debt Total	811,876,057

Balance Sheet

Currency in ARS. All numbers in thousands.

Trend

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

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-12-31

1999-09-30

1999-06-30

1999-03-31

1998-12-31

1998-09-30

1998-06-30

1998-03-31

> Total Assets

228,727
228,727
228,727
228,727
228,727
194,870
194,870
194,870
180,320
183,399
185,862
185,862
185,862
204,489
204,489
204,489
204,489
359,936
359,936
174,190
205,032
570,867
570,867
596,071
211,949
648,277
648,277
704,025
777,470
743,090
743,090
752,548
781,171
871,623
871,623
914,394
1,038,421
1,047,461
1,047,461
1,185,066
2,064,135
2,067,326
2,067,326
5,459,504
5,525,446
5,976,056
5,976,056
6,368,214
6,680,313
6,837,888
6,837,888
7,844,795
7,966,111
9,733,418
9,733,418
9,614,745
9,915,391
9,755,212
10,585,819
11,576,550
12,163,152
12,410,725
12,668,425
13,852,701
15,256,301
15,783,688
15,783,688
14,639,056
14,420,947
15,275,443
15,737,068
140,580,000
11,229,091
166,001,000
166,001,000
174,553,000
175,621,000
241,446,000
250,310,000
272,904,000
295,258,000
353,770,000
514,115,000
455,673,000
523,909,000
507,989,000
507,989,000
548,567,000
576,494,000
686,940,000
686,940,000
273,482,000
300,006,000
339,172,000
339,172,000
408,339,000
408,339,000
529,227,000
529,227,000
713,603,000
847,714,000
1,069,353,000
1,069,353,000
2,693,437,928

2,693,437,928

1,069,353,000

847,714,000

713,603,000

529,227,000

408,339,000

339,172,000

300,006,000

273,482,000

686,940,000

576,494,000

548,567,000

507,989,000

523,909,000

455,673,000

514,115,000

353,770,000

295,258,000

272,904,000

250,310,000

241,446,000

175,621,000

174,553,000

166,001,000

11,229,091

140,580,000

15,737,068

15,275,443

14,420,947

14,639,056

15,783,688

15,256,301

13,852,701

12,668,425

12,410,725

12,163,152

11,576,550

10,585,819

9,755,212

9,915,391

9,614,745

9,733,418

7,966,111

7,844,795

6,837,888

6,680,313

6,368,214

5,976,056

5,525,446

5,459,504

2,067,326

2,064,135

1,185,066

1,047,461

1,038,421

914,394

871,623

781,171

752,548

743,090

777,470

704,025

648,277

211,949

596,071

570,867

205,032

174,190

359,936

204,489

185,862

183,399

180,320

194,870

228,727

> Total Current Assets

0
89,240
0
0
0
71,804
0
0
0
57,833
0
0
0
90,623
0
0
0
100,719
100,719
0
0
58,747
58,747
69,574
0
73,347
73,347
89,781
189,243
152,676
152,676
80,411
95,253
95,088
95,088
135,789
230,390
211,836
211,836
175,644
917,517
736,000
736,000
1,110,114
1,003,003
1,157,655
1,157,655
1,151,572
1,323,626
1,453,381
1,453,381
1,545,652
1,598,120
2,265,588
2,265,588
2,082,028
2,071,280
1,922,229
2,059,918
2,427,473
2,706,497
3,288,236
2,804,629
3,176,429
3,257,497
4,987,682
4,987,682
4,150,693
3,420,110
4,212,140
4,669,797
47,786,000
54,026,000
45,121,000
45,121,000
61,485,000
58,123,000
68,360,000
75,276,000
83,550,000
89,865,000
102,434,000
167,183,000
138,290,000
154,561,000
153,059,000
153,059,000
193,970,000
195,927,000
231,023,000
231,023,000
39,962,000
57,963,000
69,981,000
69,981,000
74,734,000
88,813,000
112,988,000
112,988,000
138,046,000
165,928,000
214,938,000
214,938,000
609,660,211

609,660,211

214,938,000

165,928,000

138,046,000

112,988,000

88,813,000

74,734,000

69,981,000

57,963,000

39,962,000

231,023,000

195,927,000

193,970,000

153,059,000

154,561,000

138,290,000

167,183,000

102,434,000

89,865,000

83,550,000

75,276,000

68,360,000

58,123,000

61,485,000

45,121,000

54,026,000

47,786,000

4,669,797

4,212,140

3,420,110

4,150,693

4,987,682

3,257,497

3,176,429

2,804,629

3,288,236

2,706,497

2,427,473

2,059,918

1,922,229

2,071,280

2,082,028

2,265,588

1,598,120

1,545,652

1,453,381

1,323,626

1,151,572

1,157,655

1,003,003

1,110,114

736,000

917,517

175,644

211,836

230,390

135,789

95,088

95,253

80,411

152,676

189,243

89,781

73,347

69,574

58,747

100,719

90,623

57,833

71,804

89,240

Cash And Cash Equivalents

0
5,395
0
0
0
3,502
0
0
0
2,834
0
0
0
1,891
0
0
0
40,515
40,515
0
0
17,088
17,088
20,574
0
12,715
12,715
27,295
18,432
14,462
14,462
1,292
10,047
26,026
26,026
15,701
81,016
45,861
45,861
1,736
137,634
47,739
47,739
76,399
68,507
82,459
82,459
57,314
83,302
80,919
80,919
138,860
219,459
193,949
193,949
242,086
235,748
338,054
421,357
524,159
640,502
1,047,586
634,759
512,066
498,661
1,002,987
1,002,987
1,019,837
490,792
633,693
1,033,415
13,834,000
1,346,531
14,096,000
14,096,000
24,038,000
22,667,000
25,363,000
26,389,000
30,013,000
34,580,000
38,650,000
71,734,000
54,729,000
62,366,000
62,484,000
62,484,000
67,666,000
60,389,000
100,926,000
100,926,000
6,684,000
12,980,000
27,529,000
27,529,000
26,632,000
0
34,911,000
34,911,000
21,470,000
30,609,000
38,936,000
38,936,000
101,782,849

101,782,849

38,936,000

30,609,000

21,470,000

34,911,000

26,632,000

27,529,000

12,980,000

6,684,000

100,926,000

60,389,000

67,666,000

62,484,000

62,366,000

54,729,000

71,734,000

38,650,000

34,580,000

30,013,000

26,389,000

25,363,000

22,667,000

24,038,000

14,096,000

1,346,531

13,834,000

1,033,415

633,693

490,792

1,019,837

1,002,987

498,661

512,066

634,759

1,047,586

640,502

524,159

421,357

338,054

235,748

242,086

193,949

219,459

138,860

80,919

83,302

57,314

82,459

68,507

76,399

47,739

137,634

1,736

45,861

81,016

15,701

26,026

10,047

1,292

14,462

18,432

27,295

12,715

20,574

17,088

40,515

1,891

2,834

3,502

5,395

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
57,068
0
0
0
86
86
0
0
5,489
5,489
1,663
0
1,553
1,553
2,377
101,204
59,952
59,952
6,536
7,897
6,231
6,231
43,810
44,514
38,934
38,934
944
577,153
484,722
484,722
360,295
285,825
345,541
345,541
290,732
237,272
278,968
278,968
293,044
286,073
575,061
575,061
367,158
422,694
248,548
217,162
340,048
483,281
385,585
580,358
828,351
499,273
495,633
495,633
859,922
381,355
504,102
1,006,926
14,510,000
748,050
10,929,000
10,929,000
11,735,000
11,164,000
11,853,000
18,420,000
21,616,000
21,777,000
30,112,000
44,496,000
41,276,000
40,177,000
43,240,000
43,240,000
38,731,000
36,452,000
21,569,000
21,569,000
2,362,000
2,989,000
1,414,000
1,414,000
1,985,000
0
19,079,000
19,079,000
23,311,000
24,878,000
43,821,000
43,821,000
121,432,697

121,432,697

43,821,000

24,878,000

23,311,000

19,079,000

1,985,000

1,414,000

2,989,000

2,362,000

21,569,000

36,452,000

38,731,000

43,240,000

40,177,000

41,276,000

44,496,000

30,112,000

21,777,000

21,616,000

18,420,000

11,853,000

11,164,000

11,735,000

10,929,000

748,050

14,510,000

1,006,926

504,102

381,355

859,922

495,633

499,273

828,351

580,358

385,585

483,281

340,048

217,162

248,548

422,694

367,158

575,061

286,073

293,044

278,968

237,272

290,732

345,541

285,825

360,295

484,722

577,153

944

38,934

44,514

43,810

6,231

7,897

6,536

59,952

101,204

2,377

1,553

1,663

5,489

57,068

Net Receivables

0
25,097
0
0
0
19,293
0
0
0
13,579
0
0
0
18,326
0
0
0
25,207
25,207
0
0
13,203
13,203
15,587
0
24,121
24,121
12,882
22,277
31,988
31,988
23,331
21,882
33,867
33,867
21,322
22,493
59,103
59,103
63,947
76,271
90,963
90,963
490,383
451,830
590,458
590,458
568,759
633,749
692,973
692,973
565,641
541,112
744,617
744,617
717,379
695,843
734,030
721,461
877,300
816,225
1,317,296
951,289
966,446
1,047,979
1,173,120
1,173,120
1,218,740
1,427,437
1,513,881
1,531,135
11,393,000
13,822,000
12,369,000
12,369,000
13,459,000
12,211,000
14,822,000
13,997,000
18,798,000
19,417,000
17,608,000
11,269,000
7,612,000
9,999,000
27,295,000
27,295,000
34,424,000
41,165,000
44,023,000
44,023,000
18,944,000
25,204,000
22,887,000
22,887,000
27,857,000
36,071,000
33,372,000
33,372,000
55,374,000
60,949,000
78,965,000
78,965,000
228,956,917

228,956,917

78,965,000

60,949,000

55,374,000

33,372,000

36,071,000

27,857,000

22,887,000

25,204,000

18,944,000

44,023,000

41,165,000

34,424,000

27,295,000

9,999,000

7,612,000

11,269,000

17,608,000

19,417,000

18,798,000

13,997,000

14,822,000

12,211,000

13,459,000

12,369,000

13,822,000

11,393,000

1,531,135

1,513,881

1,427,437

1,218,740

1,173,120

1,047,979

966,446

951,289

1,317,296

816,225

877,300

721,461

734,030

695,843

717,379

744,617

541,112

565,641

692,973

633,749

568,759

590,458

451,830

490,383

90,963

76,271

63,947

59,103

22,493

21,322

33,867

21,882

23,331

31,988

22,277

12,882

24,121

15,587

13,203

25,207

18,326

13,579

19,293

25,097

Other Current Assets

0
29,217
0
0
0
26,209
0
0
12,482
24,654
0
0
0
0
0
0
0
0
0
889
1,391
0
0
0
1,747
0
0
1,122
0
4,580
0
0
4,709
0
0
0
7,653
10,196
10,196
19,811
19,799
1,069
1,069
15,601
4,487
25,810
14,987
13,327
13,613
12,478
21,360
13,413
15,750
18,770
26,442
15,431
17,385
58,330
121,521
280,724
393,392
97,564
100,490
289,048
598,669
195,830
195,830
422,049
478,153
119,998
113,809
346,000
257,762
455,000
455,000
641,000
1,049,000
559,000
453,000
876,000
1,527,000
913,000
1,211,000
2,632,000
3,592,000
2,655,000
2,655,000
4,528,000
5,551,000
2,773,000
2,773,000
2,801,000
978,000
747,000
747,000
854,000
1,760,000
2,800,000
2,800,000
2,020,000
3,508,000
6,162,000
6,306,000
8,675,050

8,675,050

6,306,000

6,162,000

3,508,000

2,020,000

2,800,000

1,760,000

854,000

747,000

978,000

2,801,000

2,773,000

5,551,000

4,528,000

2,655,000

3,592,000

2,632,000

1,211,000

913,000

1,527,000

876,000

453,000

559,000

1,049,000

641,000

455,000

257,762

346,000

113,809

119,998

478,153

422,049

195,830

598,669

289,048

100,490

97,564

393,392

280,724

121,521

58,330

17,385

15,431

26,442

18,770

15,750

13,413

21,360

12,478

13,613

13,327

14,987

25,810

4,487

15,601

1,069

19,799

19,811

10,196

7,653

4,709

4,580

1,122

1,747

1,391

889

24,654

12,482

26,209

29,217

> Long-term Assets

0
139,487
0
0
0
123,065
0
0
0
125,566
0
0
0
113,866
0
0
0
259,218
259,218
0
0
512,121
512,121
526,497
0
574,930
574,930
614,244
588,227
590,414
590,414
672,136
685,917
776,535
776,535
778,605
808,031
835,624
835,624
1,009,422
1,146,619
1,331,326
1,331,326
4,349,390
4,522,443
4,818,401
4,818,401
5,216,642
5,356,687
5,384,507
5,384,507
6,299,143
6,367,991
7,467,830
7,467,830
7,532,717
7,844,111
7,832,983
8,525,901
9,149,077
9,456,655
9,122,489
9,863,796
10,676,272
11,998,804
10,796,006
10,796,006
10,488,363
11,000,837
11,063,303
11,067,271
92,794,000
0
120,880,000
120,880,000
113,068,000
117,498,000
173,086,000
175,034,000
189,354,000
205,393,000
251,336,000
346,932,000
317,383,000
369,348,000
354,930,000
354,930,000
354,597,000
380,567,000
455,917,000
455,917,000
233,520,000
242,043,000
269,191,000
269,191,000
333,605,000
0
416,239,000
416,239,000
575,557,000
681,786,000
854,415,000
854,415,000
2,083,777,718

2,083,777,718

854,415,000

681,786,000

575,557,000

416,239,000

333,605,000

269,191,000

242,043,000

233,520,000

455,917,000

380,567,000

354,597,000

354,930,000

369,348,000

317,383,000

346,932,000

251,336,000

205,393,000

189,354,000

175,034,000

173,086,000

117,498,000

113,068,000

120,880,000

92,794,000

11,067,271

11,063,303

11,000,837

10,488,363

10,796,006

11,998,804

10,676,272

9,863,796

9,122,489

9,456,655

9,149,077

8,525,901

7,832,983

7,844,111

7,532,717

7,467,830

6,367,991

6,299,143

5,384,507

5,356,687

5,216,642

4,818,401

4,522,443

4,349,390

1,331,326

1,146,619

1,009,422

835,624

808,031

778,605

776,535

685,917

672,136

590,414

588,227

614,244

574,930

526,497

512,121

259,218

113,866

125,566

123,065

139,487

Property Plant Equipment

0
78,493
0
0
0
82,141
0
0
65,332
83,218
0
0
0
77,172
0
0
0
117,180
117,180
37,514
44,397
149,318
149,318
148,007
53,280
157,923
157,923
164,722
158,914
166,426
166,426
212,498
219,702
225,025
225,025
236,126
238,379
240,317
240,317
226,813
263,118
266,302
266,302
3,087,468
3,181,710
3,309,998
3,309,998
3,243,299
2,762,039
3,290,221
3,290,221
3,340,641
3,347,915
5,333,109
5,333,109
5,212,002
5,252,362
5,147,362
1,920,538
1,845,380
1,895,329
1,841,454
1,935,584
2,031,825
2,348,998
2,381,956
2,381,956
2,296,639
2,171,317
1,977,195
1,826,815
21,005,000
1,601,215
26,300,000
26,300,000
26,233,000
27,394,000
31,150,000
31,464,000
32,859,000
37,189,000
20,646,000
28,720,000
31,449,000
37,351,000
37,857,000
37,857,000
62,911,000
75,278,000
81,884,000
81,884,000
34,738,000
38,396,000
44,372,000
44,372,000
49,787,000
60,077,000
66,228,000
66,228,000
105,171,000
126,855,000
164,292,000
164,292,000
486,628,689

486,628,689

164,292,000

126,855,000

105,171,000

66,228,000

60,077,000

49,787,000

44,372,000

38,396,000

34,738,000

81,884,000

75,278,000

62,911,000

37,857,000

37,351,000

31,449,000

28,720,000

20,646,000

37,189,000

32,859,000

31,464,000

31,150,000

27,394,000

26,233,000

26,300,000

1,601,215

21,005,000

1,826,815

1,977,195

2,171,317

2,296,639

2,381,956

2,348,998

2,031,825

1,935,584

1,841,454

1,895,329

1,845,380

1,920,538

5,147,362

5,252,362

5,212,002

5,333,109

3,347,915

3,340,641

3,290,221

2,762,039

3,243,299

3,309,998

3,181,710

3,087,468

266,302

263,118

226,813

240,317

238,379

236,126

225,025

219,702

212,498

166,426

158,914

164,722

157,923

53,280

148,007

149,318

44,397

37,514

117,180

77,172

83,218

65,332

82,141

78,493

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
498
486
517
0
388
337
289
0
0
0
0
0
0
0
-17,025
0
-75,127
-72,049
-70,062
0
0
-136,370
-112,028
0
0
-315,692
-309,154
-408,740
-408,740
-378,409
-366,557
-389,025
-389,025
-225,267
-226,116
-741,056
-741,056
-699,469
-672,384
-642,720
0
0
0
77,052
0
89,363
105,404
29,977
29,977
28,295
27,139
27,612
26,133
3,787,000
296,060
2,238,000
2,238,000
2,374,000
2,399,000
2,806,000
2,799,000
3,678,000
4,171,000
3,121,000
4,447,000
4,084,000
4,712,000
4,710,000
4,710,000
4,965,000
5,239,000
5,821,000
5,821,000
341,000
381,000
386,000
386,000
453,000
0
605,000
605,000
863,000
1,056,000
1,315,000
1,315,000
2,883,684

2,883,684

1,315,000

1,056,000

863,000

605,000

453,000

386,000

381,000

341,000

5,821,000

5,239,000

4,965,000

4,710,000

4,712,000

4,084,000

4,447,000

3,121,000

4,171,000

3,678,000

2,799,000

2,806,000

2,399,000

2,374,000

2,238,000

296,060

3,787,000

26,133

27,612

27,139

28,295

29,977

105,404

89,363

77,052

-642,720

-672,384

-699,469

-741,056

-226,116

-225,267

-389,025

-366,557

-378,409

-408,740

-309,154

-315,692

-112,028

-136,370

-70,062

-72,049

-75,127

-17,025

289

337

388

517

486

498

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
1,745,000
0
0
0
2,650,351
0
0
0
4,435,000
0
0
22,262,000
22,747,000
10,500,000
11,729,000
13,734,000
16,224,000
15,884,000
16,528,000
17,556,000
34,239,000
49,558,000
39,611,000
35,342,000
34,284,000
67,483,000
68,257,000
70,801,000
78,643,000
13,957,000
15,137,000
14,729,000
14,319,000
15,329,000
14,725,000
0
18,781,000
23,472,000
27,486,000
32,852,000
41,745,000
48,784,000
94,814,000

94,814,000

48,784,000

41,745,000

32,852,000

27,486,000

23,472,000

18,781,000

14,725,000

15,329,000

14,319,000

14,729,000

15,137,000

13,957,000

78,643,000

70,801,000

68,257,000

67,483,000

34,284,000

35,342,000

39,611,000

49,558,000

34,239,000

17,556,000

16,528,000

15,884,000

16,224,000

13,734,000

11,729,000

10,500,000

22,747,000

22,262,000

4,435,000

2,650,351

1,745,000

Intangible Assets

0
0
0
0
0
0
0
0
0
1,672
0
0
0
1,799
0
0
0
2,578
2,578
492
524
372
372
-19,896
289
0
-39,812
-36,607
-43,554
-30,418
-30,418
-4,999
0
23,608
23,608
23,550
23,539
23,044
23,044
21,920
23,013
22,802
22,802
44,743
45,870
55,187
55,187
63,437
72,471
88,585
88,585
75,524
74,355
79,945
79,945
85,751
83,692
93,228
74,894
24,692
24,075
48,260
22,447
48,083
62,408
145,030
145,030
147,880
146,049
148,151
145,397
1,906,000
454,247
9,576,000
9,576,000
8,979,000
8,685,000
9,637,000
9,316,000
9,191,000
9,706,000
9,242,000
13,026,000
11,530,000
13,400,000
13,494,000
13,494,000
18,880,000
19,535,000
22,371,000
22,371,000
1,455,000
2,288,000
2,604,000
2,604,000
2,895,000
0
3,677,000
3,677,000
5,466,000
6,656,000
8,652,000
8,652,000
37,734,000

37,734,000

8,652,000

6,656,000

5,466,000

3,677,000

2,895,000

2,604,000

2,288,000

1,455,000

22,371,000

19,535,000

18,880,000

13,494,000

13,400,000

11,530,000

13,026,000

9,242,000

9,706,000

9,191,000

9,316,000

9,637,000

8,685,000

8,979,000

9,576,000

454,247

1,906,000

145,397

148,151

146,049

147,880

145,030

62,408

48,083

22,447

48,260

24,075

24,692

74,894

93,228

83,692

85,751

79,945

74,355

75,524

88,585

72,471

63,437

55,187

45,870

44,743

22,802

23,013

21,920

23,044

23,539

23,550

23,608

-4,999

-30,418

-43,554

-36,607

-39,812

289

-19,896

372

524

492

2,578

1,799

1,672

Other Assets

0
0
0
0
0
0
0
0
59,839
42,348
0
0
0
0
0
0
0
36,417
48,445
112,817
131,296
121,290
123,200
128,177
133,085
139,931
145,122
149,890
0
146,517
149,367
151,388
148,521
178,166
179,477
176,997
184,144
0
0
248,339
280,368
353,236
0
366,272
361,355
398,082
446,805
517,411
552,584
532,996
573,458
744,951
747,468
520,231
518,304
539,798
592,163
595,403
1,409,584
1,489,443
1,477,483
1,356,457
1,377,923
1,331,245
1,215,875
1,034,928
1,027,118
959,251
1,001,974
994,383
981,891
5,527,753
5,933,038
6,333,077
5,387,983
5,514,891
5,848,650
8,633,966
8,184,925
8,381,874
135,939,000
183,188,000
250,096,000
9,991,000
9,034,000
259,144,000
229,386,000
198,082,000
208,143,000
265,439,000
179,034,000
179,550,000
183,256,000
204,263,000
213,056,000
261,934,000
261,746,000
320,878,000
380,468,000
429,921,000
506,367,000
629,106,000
944,501,000
0

944,501,000

629,106,000

506,367,000

429,921,000

380,468,000

320,878,000

261,746,000

261,934,000

213,056,000

204,263,000

183,256,000

179,550,000

179,034,000

265,439,000

208,143,000

198,082,000

229,386,000

259,144,000

9,034,000

9,991,000

250,096,000

183,188,000

135,939,000

8,381,874

8,184,925

8,633,966

5,848,650

5,514,891

5,387,983

6,333,077

5,933,038

5,527,753

981,891

994,383

1,001,974

959,251

1,027,118

1,034,928

1,215,875

1,331,245

1,377,923

1,356,457

1,477,483

1,489,443

1,409,584

595,403

592,163

539,798

518,304

520,231

747,468

744,951

573,458

532,996

552,584

517,411

446,805

398,082

361,355

366,272

353,236

280,368

248,339

184,144

176,997

179,477

178,166

148,521

151,388

149,367

146,517

149,890

145,122

139,931

133,085

128,177

123,200

121,290

131,296

112,817

48,445

36,417

42,348

59,839

> Total Liabilities

0
24,323
0
0
0
8,287
0
0
5,222
6,440
7,366
0
0
24,799
0
0
0
46,738
46,738
64,125
69,423
176,732
176,732
163,335
57,443
181,461
181,461
220,219
230,260
219,969
219,969
209,272
227,442
237,844
237,844
253,848
230,337
240,483
240,483
333,647
316,548
305,902
305,902
2,500,204
2,566,372
2,727,190
2,727,190
2,895,631
3,137,826
3,244,687
3,244,687
4,389,021
4,441,634
5,173,433
5,173,433
5,388,590
5,506,022
5,701,153
5,847,044
6,732,260
7,153,523
7,691,659
7,890,940
9,402,724
10,399,003
11,348,902
11,348,902
11,024,129
11,206,930
11,373,485
11,928,058
133,101,000
10,564,272
150,769,000
150,769,000
153,231,000
154,348,000
192,273,000
201,269,000
212,586,000
233,407,000
278,449,000
410,415,000
360,276,000
419,085,000
418,989,000
418,989,000
464,927,000
492,474,000
564,787,000
564,787,000
181,883,000
196,677,000
233,279,000
233,279,000
257,113,000
0
322,438,000
322,438,000
416,513,000
472,042,000
586,327,000
586,327,000
1,551,079,076

1,551,079,076

586,327,000

472,042,000

416,513,000

322,438,000

257,113,000

233,279,000

196,677,000

181,883,000

564,787,000

492,474,000

464,927,000

418,989,000

419,085,000

360,276,000

410,415,000

278,449,000

233,407,000

212,586,000

201,269,000

192,273,000

154,348,000

153,231,000

150,769,000

10,564,272

133,101,000

11,928,058

11,373,485

11,206,930

11,024,129

11,348,902

10,399,003

9,402,724

7,890,940

7,691,659

7,153,523

6,732,260

5,847,044

5,701,153

5,506,022

5,388,590

5,173,433

4,441,634

4,389,021

3,244,687

3,137,826

2,895,631

2,727,190

2,566,372

2,500,204

305,902

316,548

333,647

240,483

230,337

253,848

237,844

227,442

209,272

219,969

230,260

220,219

181,461

57,443

163,335

176,732

69,423

64,125

46,738

24,799

7,366

6,440

5,222

8,287

24,323

> Total Current Liabilities

0
15,378
0
0
0
8,095
0
0
5,222
6,200
7,115
0
0
24,549
0
0
0
33,422
33,422
8,397
11,049
15,159
15,159
10,816
5,513
28,849
28,849
66,944
78,037
65,952
65,952
52,255
66,134
102,022
102,022
187,431
161,631
163,871
163,871
277,103
271,020
262,039
262,039
1,043,581
1,078,212
1,313,912
1,313,912
1,479,883
1,751,452
1,928,717
1,928,717
2,198,842
1,957,881
2,364,192
2,364,192
2,466,956
2,314,994
2,100,356
2,080,535
2,581,918
2,527,835
2,664,850
2,912,519
3,244,988
3,132,138
4,800,385
4,800,385
4,469,348
4,385,693
4,463,331
4,096,398
39,102,000
3,228,897
45,599,000
45,599,000
43,728,000
43,844,000
51,191,000
50,263,000
55,514,000
59,493,000
57,054,000
96,703,000
80,221,000
91,395,000
89,602,000
89,602,000
132,795,000
148,658,000
172,861,000
172,861,000
67,894,000
76,326,000
70,427,000
70,427,000
61,383,000
77,760,000
147,579,000
147,579,000
137,508,000
141,550,000
195,017,000
195,017,000
516,164,453

516,164,453

195,017,000

141,550,000

137,508,000

147,579,000

77,760,000

61,383,000

70,427,000

76,326,000

67,894,000

172,861,000

148,658,000

132,795,000

89,602,000

91,395,000

80,221,000

96,703,000

57,054,000

59,493,000

55,514,000

50,263,000

51,191,000

43,844,000

43,728,000

45,599,000

3,228,897

39,102,000

4,096,398

4,463,331

4,385,693

4,469,348

4,800,385

3,132,138

3,244,988

2,912,519

2,664,850

2,527,835

2,581,918

2,080,535

2,100,356

2,314,994

2,466,956

2,364,192

1,957,881

2,198,842

1,928,717

1,751,452

1,479,883

1,313,912

1,078,212

1,043,581

262,039

271,020

277,103

163,871

161,631

187,431

102,022

66,134

52,255

65,952

78,037

66,944

28,849

5,513

10,816

15,159

11,049

8,397

33,422

24,549

7,115

6,200

5,222

8,095

15,378

Short-term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
13,607
0
0
0
6,825
6,825
0
0
1,433
1,433
1,390
0
14,247
14,247
49,747
41,985
11,495
11,495
21,302
40,237
66,495
66,495
140,298
111,973
119,867
119,867
217,906
195,954
195,370
195,370
430,084
518,849
634,274
634,274
883,351
912,169
1,059,736
1,059,736
1,465,433
1,047,682
1,496,557
1,496,557
1,496,986
1,362,582
1,095,235
1,195,662
1,401,429
1,398,333
1,511,042
1,881,637
1,908,269
1,992,789
2,639,491
2,639,491
2,607,050
2,454,093
2,466,030
2,247,408
17,939,000
123,382,000
23,488,000
23,488,000
20,169,000
20,277,000
23,287,000
22,622,000
23,942,000
25,335,000
32,083,000
6,118,000
4,589,000
5,395,000
56,243,000
56,243,000
80,732,000
90,951,000
104,050,000
104,050,000
45,537,000
51,083,000
47,028,000
47,028,000
34,527,000
0
97,555,000
97,555,000
81,786,000
87,552,000
0
108,529,000
272,666,129

272,666,129

108,529,000

87,552,000

81,786,000

97,555,000

34,527,000

47,028,000

51,083,000

45,537,000

104,050,000

90,951,000

80,732,000

56,243,000

5,395,000

4,589,000

6,118,000

32,083,000

25,335,000

23,942,000

22,622,000

23,287,000

20,277,000

20,169,000

23,488,000

123,382,000

17,939,000

2,247,408

2,466,030

2,454,093

2,607,050

2,639,491

1,992,789

1,908,269

1,881,637

1,511,042

1,398,333

1,401,429

1,195,662

1,095,235

1,362,582

1,496,986

1,496,557

1,047,682

1,465,433

1,059,736

912,169

883,351

634,274

518,849

430,084

195,370

195,954

217,906

119,867

111,973

140,298

66,495

40,237

21,302

11,495

41,985

49,747

14,247

1,390

1,433

6,825

13,607

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
5,717,000
0
0
0
7,954,826
0
0
0
1,186,000
0
0
123,382,000
22,091,000
110,445,000
116,716,000
117,666,000
23,161,000
22,033,000
23,651,000
24,889,000
30,961,000
62,346,000
52,378,000
5,395,000
56,243,000
72,023,000
76,110,000
85,876,000
98,389,000
47,535,000
43,981,000
49,657,000
45,435,000
35,118,000
32,510,000
0
95,267,000
61,378,000
77,661,000
82,869,000
102,701,000
129,144,000
258,603,000

258,603,000

129,144,000

102,701,000

82,869,000

77,661,000

61,378,000

95,267,000

32,510,000

35,118,000

45,435,000

49,657,000

43,981,000

47,535,000

98,389,000

85,876,000

76,110,000

72,023,000

56,243,000

5,395,000

52,378,000

62,346,000

30,961,000

24,889,000

23,651,000

22,033,000

23,161,000

117,666,000

116,716,000

110,445,000

22,091,000

123,382,000

1,186,000

7,954,826

5,717,000

Accounts payable

0
8,593
0
0
0
5,245
0
0
2,985
4,922
0
0
0
9,548
0
0
0
17,794
17,794
3,552
4,506
7,361
7,361
6,782
2,988
11,225
11,225
11,766
11,274
17,890
17,890
28,130
17,651
26,468
26,468
25,296
22,241
17,877
17,877
38,650
45,421
23,685
23,685
263,617
208,048
339,894
339,894
371,263
373,713
403,743
403,743
348,457
310,241
124,257
124,257
170,638
149,514
369,681
196,503
242,884
216,518
212,797
277,536
307,197
287,314
289,825
289,825
448,310
373,895
301,719
288,294
9,627,000
1,194,363
11,180,000
11,180,000
12,218,000
11,405,000
13,298,000
12,416,000
25,741,000
27,437,000
17,892,000
20,994,000
18,786,000
22,501,000
22,599,000
22,599,000
24,847,000
29,571,000
35,823,000
35,823,000
15,593,000
19,630,000
19,585,000
19,585,000
23,461,000
25,469,000
30,922,000
30,922,000
48,658,000
47,483,000
75,933,000
75,933,000
224,484,407

224,484,407

75,933,000

47,483,000

48,658,000

30,922,000

25,469,000

23,461,000

19,585,000

19,630,000

15,593,000

35,823,000

29,571,000

24,847,000

22,599,000

22,501,000

18,786,000

20,994,000

17,892,000

27,437,000

25,741,000

12,416,000

13,298,000

11,405,000

12,218,000

11,180,000

1,194,363

9,627,000

288,294

301,719

373,895

448,310

289,825

287,314

307,197

277,536

212,797

216,518

242,884

196,503

369,681

149,514

170,638

124,257

310,241

348,457

403,743

373,713

371,263

339,894

208,048

263,617

23,685

45,421

38,650

17,877

22,241

25,296

26,468

17,651

28,130

17,890

11,274

11,766

11,225

2,988

6,782

7,361

4,506

3,552

17,794

9,548

4,922

2,985

5,245

8,593

Other Current Liabilities

0
6,785
0
0
0
2,850
0
0
1,993
1,278
0
0
0
1,394
0
0
0
8,804
8,804
2,570
2,399
6,364
6,364
2,644
372
3,378
3,378
5,431
24,778
36,567
36,567
2,823
2,102
9,059
9,059
4,269
7,187
13,687
13,687
20,548
29,645
17,187
17,187
200,160
245,005
136,057
136,057
75,630
268,345
292,306
292,306
245,223
345,302
473,823
473,823
545,462
544,147
396,399
671,163
639,768
604,726
726,379
536,745
820,033
629,159
1,612,461
1,612,461
1,206,268
1,310,143
1,430,677
1,285,366
8,534,000
277,184
6,311,000
6,311,000
7,734,000
9,953,000
10,229,000
10,977,000
2,269,000
2,474,000
3,557,000
2,979,000
2,290,000
2,525,000
5,878,000
5,878,000
20,630,000
21,390,000
25,036,000
25,036,000
5,676,000
4,226,000
3,814,000
3,814,000
3,395,000
7,380,000
19,102,000
19,102,000
7,064,000
6,515,000
3,764,000
1,246,000
12,333,649

12,333,649

1,246,000

3,764,000

6,515,000

7,064,000

19,102,000

7,380,000

3,395,000

3,814,000

4,226,000

5,676,000

25,036,000

21,390,000

20,630,000

5,878,000

2,525,000

2,290,000

2,979,000

3,557,000

2,474,000

2,269,000

10,977,000

10,229,000

9,953,000

7,734,000

6,311,000

277,184

8,534,000

1,285,366

1,430,677

1,310,143

1,206,268

1,612,461

629,159

820,033

536,745

726,379

604,726

639,768

671,163

396,399

544,147

545,462

473,823

345,302

245,223

292,306

268,345

75,630

136,057

245,005

200,160

17,187

29,645

20,548

13,687

7,187

4,269

9,059

2,102

2,823

36,567

24,778

5,431

3,378

372

2,644

6,364

2,399

2,570

8,804

1,394

1,278

1,993

2,850

6,785

> Long-term Liabilities

0
8,946
0
0
0
192
0
0
0
240
0
0
0
249
0
0
0
13,317
13,317
0
0
161,573
161,573
152,519
0
152,612
152,612
153,275
152,223
154,017
154,017
157,017
161,308
135,822
135,822
66,416
68,706
76,612
76,612
56,543
45,528
43,863
43,863
1,456,623
1,488,160
1,413,278
1,413,278
1,415,748
1,386,374
1,315,970
1,315,970
2,190,179
2,483,753
2,809,241
2,809,241
2,921,634
3,191,028
3,600,797
3,766,509
4,150,342
4,625,688
5,026,809
4,978,421
6,157,736
7,266,865
6,548,517
6,548,517
6,554,781
6,821,237
6,910,154
7,831,660
93,999,000
0
105,170,000
105,170,000
109,503,000
110,504,000
141,082,000
151,006,000
157,072,000
173,914,000
221,395,000
313,712,000
280,055,000
327,690,000
329,387,000
329,387,000
332,132,000
343,816,000
391,926,000
391,926,000
113,989,000
120,351,000
162,852,000
162,852,000
195,730,000
0
174,859,000
174,859,000
279,005,000
330,492,000
391,310,000
391,310,000
1,034,914,623

1,034,914,623

391,310,000

330,492,000

279,005,000

174,859,000

195,730,000

162,852,000

120,351,000

113,989,000

391,926,000

343,816,000

332,132,000

329,387,000

327,690,000

280,055,000

313,712,000

221,395,000

173,914,000

157,072,000

151,006,000

141,082,000

110,504,000

109,503,000

105,170,000

93,999,000

7,831,660

6,910,154

6,821,237

6,554,781

6,548,517

7,266,865

6,157,736

4,978,421

5,026,809

4,625,688

4,150,342

3,766,509

3,600,797

3,191,028

2,921,634

2,809,241

2,483,753

2,190,179

1,315,970

1,386,374

1,415,748

1,413,278

1,488,160

1,456,623

43,863

45,528

56,543

76,612

68,706

66,416

135,822

161,308

157,017

154,017

152,223

153,275

152,612

152,519

161,573

13,317

249

240

192

8,946

Long term Debt Total

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
0
0
0
0
0
0
0
0
0
0
0
0
0
239,632,000
279,275,000
312,903,000
304,394,000
279,720,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

279,720,000

304,394,000

312,903,000

279,275,000

239,632,000

Other Liabilities

0
0
0
0
0
0
0
0
0
240
0
0
0
250
0
0
0
3,414
4,289
5,727
6,650
0
97
0
0
0
0
0
0
37
411
177
485
470
388
486
4,539
758
559
20
570
695
586
80,086
92,597
92,132
93,364
63,756
40,854
48,551
56,873
44,417
35,754
40,646
55,394
45,124
43,516
48,132
73,233
47,084
51,471
57,128
74,229
58,827
57,004
93,866
106,708
93,746
96,255
101,395
107,284
224,763
240,527
247,751
305,301
327,966
358,693
360,843
221,028
226,613
28,541,000
33,933,000
42,198,000
40,423,000
48,415,000
51,325,000
51,370,000
52,412,000
55,587,000
56,314,000
51,687,000
52,555,000
55,696,000
85,052,000
89,718,000
105,947,000
108,056,000
121,636,000
147,471,000
162,558,000
193,531,000
214,124,000
325,407,000
0

325,407,000

214,124,000

193,531,000

162,558,000

147,471,000

121,636,000

108,056,000

105,947,000

89,718,000

85,052,000

55,696,000

52,555,000

51,687,000

56,314,000

55,587,000

52,412,000

51,370,000

51,325,000

48,415,000

40,423,000

42,198,000

33,933,000

28,541,000

226,613

221,028

360,843

358,693

327,966

305,301

247,751

240,527

224,763

107,284

101,395

96,255

93,746

106,708

93,866

57,004

58,827

74,229

57,128

51,471

47,084

73,233

48,132

43,516

45,124

55,394

40,646

35,754

44,417

56,873

48,551

40,854

63,756

93,364

92,132

92,597

80,086

586

695

570

559

758

4,539

486

388

470

485

177

411

6,650

5,727

4,289

3,414

250

240

Deferred Long Term Liability

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
57,807
0
0
0
17,000
0
0
0
513,000
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

513,000

17,000

57,807

> Total Stockholder Equity

0
204,404
0
0
0
186,583
0
0
175,098
176,900
178,407
0
0
179,447
0
0
0
312,804
312,804
109,971
135,520
393,927
393,927
432,631
154,489
466,751
466,751
483,800
546,852
522,845
522,845
543,075
553,408
633,219
633,219
659,970
807,590
806,160
806,160
851,357
1,746,349
1,760,265
1,760,265
1,676,222
1,668,492
1,812,884
1,812,884
1,922,736
1,964,808
1,968,193
1,968,193
2,042,765
2,100,945
2,213,537
2,213,537
2,133,279
2,192,778
2,063,281
2,568,769
2,560,984
2,634,213
2,509,966
2,489,279
2,238,576
2,351,585
1,961,283
1,961,283
1,535,686
1,222,922
1,518,225
1,501,426
1,474,000
89,523
1,021,000
1,021,000
2,279,000
2,837,000
16,405,000
16,600,000
19,395,000
19,271,000
20,925,000
27,225,000
26,602,000
27,459,000
16,820,000
16,820,000
14,951,000
9,112,000
25,159,000
25,159,000
30,015,000
35,950,000
32,446,000
32,446,000
55,415,000
0
82,303,000
82,303,000
124,497,000
160,329,000
209,674,000
209,674,000
474,850,979

474,850,979

209,674,000

160,329,000

124,497,000

82,303,000

55,415,000

32,446,000

35,950,000

30,015,000

25,159,000

9,112,000

14,951,000

16,820,000

27,459,000

26,602,000

27,225,000

20,925,000

19,271,000

19,395,000

16,600,000

16,405,000

2,837,000

2,279,000

1,021,000

89,523

1,474,000

1,501,426

1,518,225

1,222,922

1,535,686

1,961,283

2,351,585

2,238,576

2,489,279

2,509,966

2,634,213

2,560,984

2,568,769

2,063,281

2,192,778

2,133,279

2,213,537

2,100,945

2,042,765

1,968,193

1,964,808

1,922,736

1,812,884

1,668,492

1,676,222

1,760,265

1,746,349

851,357

806,160

807,590

659,970

633,219

553,408

543,075

522,845

546,852

483,800

466,751

154,489

432,631

393,927

135,520

109,971

312,804

179,447

178,407

176,900

175,098

186,583

204,404

Common Stock

0
124,272
0
0
0
119,670
0
0
0
119,670
0
0
0
119,670
0
0
0
125,985
125,985
0
0
124,772
124,772
146,764
0
151,045
151,045
156,854
163,411
162,714
162,714
169,025
109,091
220,850
220,850
130,854
153,186
302,523
302,523
154,600
211,624
500,942
500,942
193,816
179,974
471,539
471,539
131,504
501,560
496,560
496,560
661,121
661,121
496,562
496,562
116,664
661,123
496,562
496,562
496,562
496,562
496,562
496,562
496,562
496,562
490,997
490,997
493,494
493,494
494,777
495,015
495,000
32,143
495,000
495,000
499,000
499,000
499,000
499,000
499,000
495,000
482,000
479,000
497,000
495,000
486,000
486,000
499,000
499,000
499,000
499,000
499,000
589,000
589,000
589,000
589,000
589,000
590,000
590,000
581,000
573,000
586,000
586,000
587,936

587,936

586,000

573,000

581,000

590,000

589,000

499,000

486,000

495,000

497,000

479,000

482,000

495,000

499,000

495,000

32,143

495,000

495,015

494,777

493,494

490,997

496,562

661,123

116,664

496,562

661,121

496,560

501,560

131,504

471,539

179,974

193,816

500,942

211,624

154,600

302,523

153,186

130,854

220,850

109,091

169,025

162,714

163,411

156,854

151,045

146,764

124,772

125,985

119,670

124,272

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
7,984
0
0
0
10,329
0
0
0
10,381
0
0
0
10,449
0
0
0
143,230
143,230
0
0
172,986
172,986
173,063
0
172,892
172,892
175,255
261,173
173,835
173,835
166,146
553,408
177,948
177,948
659,970
807,590
294,233
294,233
851,357
1,746,349
192,226
192,226
0
0
36,681
36,681
0
63,820
-1,313,727
-1,313,727
103,048
126,436
167,203
167,203
540,072
573,963
108,511
-59,442
355,178
401,594
1,086,813
1,158,403
1,108,980
1,384,221
1,576,794
1,576,794
489,749
430,992
482,160
388,977
1,011,000
0
1,176,000
1,176,000
1,472,000
1,916,000
4,098,000
4,072,000
4,271,000
3,967,000
4,983,000
9,265,000
26,306,000
29,545,000
29,392,000
29,392,000
2,765,000
1,132,000
2,152,000
2,152,000
5,482,000
4,727,000
5,975,000
5,975,000
2,258,000
0
1,794,000
1,794,000
35,511,000
44,035,000
0
50,303,000
192,852,873

192,852,873

50,303,000

44,035,000

35,511,000

1,794,000

2,258,000

5,975,000

4,727,000

5,482,000

2,152,000

1,132,000

2,765,000

29,392,000

29,545,000

26,306,000

9,265,000

4,983,000

3,967,000

4,271,000

4,072,000

4,098,000

1,916,000

1,472,000

1,176,000

1,011,000

388,977

482,160

430,992

489,749

1,576,794

1,384,221

1,108,980

1,158,403

1,086,813

401,594

355,178

-59,442

108,511

573,963

540,072

167,203

126,436

103,048

-1,313,727

63,820

36,681

192,226

1,746,349

851,357

294,233

807,590

659,970

177,948

553,408

166,146

173,835

261,173

175,255

172,892

173,063

172,986

143,230

10,449

10,381

10,329

7,984

Capital Surplus

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
0
0
0
0
0
0
0
0
0
0
0
0
0
6,125,000
6,838,000
8,412,000
8,412,000
9,405,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

9,405,000

8,412,000

6,838,000

6,125,000

Treasury Stock

0
0
0
0
0
0
0
0
0
-4,615
0
0
0
-4,615
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
-1,368
-1,284
-10,083
-27,089
-22,727
5,000
7,000
16,000
16,000
3,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

3,000

16,000

7,000

5,000

-22,727

-27,089

-10,083

-1,284

-1,368

-4,615

Other Stockholders Equity

0
54,569
0
0
0
62,230
0
0
0
63,495
0
0
0
64,209
0
0
0
243,327
243,327
0
0
91,056
91,056
104,354
0
106,926
106,926
110,508
114,534
78,141
78,141
78,181
0
107,036
107,036
0
0
161,166
161,166
0
0
1,044,176
1,044,176
1,676,222
1,668,492
1,177,771
1,177,771
1,922,736
1,212,494
2,364,277
2,364,277
885,991
885,992
1,051,573
1,051,573
1,547,123
886,000
1,487,225
1,481,556
952,471
955,553
953,113
958,685
964,185
964,161
959,920
959,920
767,816
785,437
787,357
791,362
740,000
0
740,000
740,000
744,000
744,000
744,000
744,000
744,000
745,000
745,000
745,000
11,521,000
12,920,000
14,171,000
14,171,000
17,960,000
19,399,000
20,468,000
20,468,000
24,629,000
31,998,000
35,547,000
35,547,000
42,963,000
24,192,000
58,760,000
58,760,000
84,355,000
103,173,000
103,306,000
123,540,000
243,299,346

243,299,346

123,540,000

103,306,000

103,173,000

84,355,000

58,760,000

24,192,000

42,963,000

35,547,000

31,998,000

24,629,000

20,468,000

19,399,000

17,960,000

14,171,000

12,920,000

11,521,000

745,000

744,000

740,000

791,362

787,357

785,437

767,816

959,920

964,161

964,185

958,685

953,113

955,553

952,471

1,481,556

1,487,225

886,000

1,547,123

1,051,573

885,992

885,991

2,364,277

1,212,494

1,922,736

1,177,771

1,668,492

1,676,222

1,044,176

161,166

107,036

78,181

78,141

114,534

110,508

106,926

104,354

91,056

243,327

64,209

63,495

62,230

54,569

Balance Sheet

Currency in ARS. All numbers in thousands.

	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30
Accounts Payable	75,933,000	30,922,000	19,585,000	38,565,000	22,599,000	17,892,000	13,298,000	11,180,000	301,719	289,825	212,797	369,677	473,229	403,743	339,894	23,685	17,877	26,468	17,890	11,225	7,361	17,794	9,548	4,922	5,245	8,593
Accumulated Amortization	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
Accumulated Depreciation	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
Accumulated Other Comprehensive Income	50,303,000	1,794,000	5,975,000	2,152,000	29,392,000	4,983,000	4,098,000	1,176,000	482,160	1,576,794	1,086,813	108,511	167,203	-1,313,727	36,681	192,226	294,233	177,948	173,835	172,892	172,986	143,230	10,449	10,381	10,329	7,984
Additional Paid In Capital	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
Capital Lease Obligations	23,663,000	9,347,000	6,160,000	20,855,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	586,000	590,000	589,000	499,000	486,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	0	0	8,412,000	7,475,000	679,000	675,000	672,142	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	38,936,000	34,911,000	27,529,000	108,652,000	62,484,000	38,650,000	25,363,000	14,096,000	633,693	1,002,987	1,047,586	338,054	193,949	80,919	82,459	47,739	45,861	26,026	14,462	12,715	17,088	40,515	1,891	2,834	3,502	5,395
Cash And 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
Cash And Short Term Investments	82,757,000	53,990,000	28,943,000	131,873,000	105,724,000	68,762,000	37,216,000	25,025,000	1,137,795	1,498,620	1,433,171	586,602	769,010	359,887	428,000	532,461	84,795	32,257	74,414	14,268	22,578	40,601	58,959	2,834	3,502	5,395
Common Stock	586,000	590,000	589,000	499,000	486,000	482,000	499,000	495,000	494,777	490,997	496,562	661,123	496,562	496,560	471,539	500,942	302,523	220,850	162,714	151,045	124,772	125,985	119,670	119,670	119,670	124,272
Common Stock Shares Outstanding	69,857	72,439	54,928	56,288	56,628	497,000	498,000	505,836	558,233	500,539	500,363	55,384	62,339	61,222	60,694	45,253	37,726	29,711	37,726	37,726	40,189	14,064	14,054	14,055	14,597	14,597
Common Stock Total Equity	0	0	0	499,000	486,000	482,000	499,000	495,000	494,777	490,997	496,562	496,562	496,562	496,560	471,539	500,942	302,523	220,850	162,714	151,045	124,772	125,985	119,670	119,670	119,670	124,272
Current Deferred Revenue	9,309,000	0	2,733,000	8,561,000	4,882,000	0	4,377,000	4,620,000	264,905	258,608	214,632	239,041	269,555	172,932	203,687	25,796	12,441	0	0	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	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
Deferred Long Term Liab	0	0	0	0	0	0	0	513,000	17,000	57,807	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning 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
Good Will	1,315,000	605,000	386,000	5,821,000	4,710,000	3,121,000	2,806,000	2,238,000	27,612	29,977	77,052	-642,720	-741,056	-389,025	-408,740	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	8,652,000	3,677,000	2,604,000	22,371,000	13,494,000	9,242,000	9,637,000	9,576,000	148,151	145,030	48,260	93,228	79,945	88,585	55,187	22,802	23,044	23,608	-30,418	0	372	2,578	1,799	1,672	0	0
Inventory	46,910,000	22,826,000	17,404,000	12,749,000	7,135,000	3,237,000	5,595,000	4,355,000	631,348	635,601	349,940	543,267	751,961	400,521	139,197	111,394	51,265	28,964	46,274	34,959	22,966	34,910	13,338	16,766	22,800	29,530
Liabilities And Stockholders Equity	1,069,353,000	529,227,000	339,172,000	739,524,000	507,989,000	353,770,000	241,446,000	166,001,000	15,275,443	15,783,688	12,410,725	9,755,212	9,733,418	6,837,888	5,976,056	2,067,326	1,047,461	871,623	743,090	648,277	570,867	359,936	204,489	183,399	194,870	228,727
Long Term Debt	159,351,000	46,164,000	73,233,000	320,418,000	278,062,000	187,462,000	112,025,000	93,808,000	5,819,276	653,786	780,578	618,087	508,494	223,063	228,731	0	8,013	31,726	39,616	42,385	46,369	0	0	0	0	0
Long Term Debt Total	0	0	0	0	312,903,000	291,640,000	112,025,000	93,808,000	5,832,973	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	41,745,000	21,822,000	14,319,000	78,643,000	34,284,000	26,451,000	9,999,000	18,760,000	4,435,000	2,650,351	1,745,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	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
Net Debt	246,779,000	115,867,000	97,299,000	364,667,000	271,821,000	180,895,000	109,949,000	103,200,000	7,665,310	6,951,839	4,653,352	3,545,126	3,208,588	1,831,983	1,321,129	147,631	98,185	138,675	111,677	127,841	123,046	-33,691	11,717	-2,834	-3,502	-5,395
Net Invested Capital	471,726,000	223,734,000	151,114,000	443,966,000	351,125,000	240,470,000	151,717,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	78,965,000	33,372,000	22,887,000	47,392,000	27,295,000	17,608,000	14,822,000	12,369,000	1,513,881	1,173,120	1,317,296	558,633	744,617	692,973	590,458	90,963	59,103	33,867	31,988	24,121	13,203	25,207	18,326	13,579	19,293	25,097
Net Tangible Assets	198,061,000	78,021,000	29,456,000	-3,033,000	-1,976,000	17,660,000	3,962,000	1,847,000	8,236,000	1,770,847	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	19,921,000	-34,591,000	-446,000	58,162,000	63,457,000	45,380,000	17,169,000	-478,000	-251,191	187,297	623,386	-178,127	-98,604	-475,336	-156,257	473,962	47,965	-6,934	86,724	44,498	43,588	67,297	66,074	51,633	63,710	73,862
Non Current Assets Total	854,415,000	416,239,000	269,191,000	490,817,000	354,930,000	251,336,000	173,086,000	120,880,000	11,063,303	10,796,006	9,122,489	7,832,983	7,467,830	5,384,507	4,818,401	1,331,326	835,624	776,535	590,414	574,930	512,121	259,218	113,866	125,566	123,065	139,487
Non Current Liabilities Other	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
Non Current Liabilities Total	391,310,000	174,859,000	162,852,000	421,929,000	329,387,000	221,395,000	141,082,000	105,170,000	6,910,154	6,548,517	5,026,809	3,600,797	2,809,241	1,315,970	1,413,278	43,863	76,612	135,822	154,017	152,612	161,573	13,317	249	240	192	8,946
Non Currrent Assets Other	636,983,000	326,883,000	207,017,000	286,654,000	259,866,000	182,409,000	111,638,000	59,002,000	4,862,629	4,736,050	5,235,891	747,459	357,607	204,218	503,351	1,042,221	571,737	527,902	454,407	417,007	362,431	139,460	34,895	40,676	40,924	60,994
Noncontrolling Interest In Consolidated Entity	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
Other Assets	629,106,000	320,878,000	204,263,000	265,439,000	370,377,000	285,270,000	112,598,000	92,574,000	993,743	169,753	105,739	0	0	0	12,007	36,583	0	4,407	46,556	6,373	53,096	6,933	0	32,814	0	0
Other Current Assets	6,306,000	2,800,000	747,000	2,986,000	2,655,000	913,000	559,000	455,000	119,998	195,830	97,564	233,727	18,770	12,478	25,810	1,069	10,196	0	4,580	0	0	0	0	24,654	26,209	29,217
Other Current Liab	1,246,000	19,102,000	1,081,000	26,952,000	5,878,000	7,079,000	10,229,000	6,311,000	1,430,677	1,612,461	726,379	396,403	305,176	292,306	233,443	17,187	13,687	9,059	36,567	3,378	6,364	8,804	1,394	1,278	2,850	6,785
Other Liab	212,566,000	121,636,000	85,052,000	56,314,000	73,356,000	53,621,000	29,057,000	23,044,000	6,871,000	93,866	57,128	48,132	40,646	48,551	92,132	695	758	470	37	0	0	3,414	250	240	0	0
Other Stockholder Equity	123,540,000	58,760,000	35,547,000	22,390,000	14,171,000	745,000	744,000	740,000	787,357	959,920	953,113	1,487,225	1,051,573	2,364,277	1,177,771	1,044,176	161,166	107,036	78,141	106,926	91,056	243,327	64,209	63,495	62,230	54,569
Preferred Stock Redeemable	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
Preferred Stock Total 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
Property Plant And Equipment Gross	205,490,000	83,063,000	55,201,000	81,884,000	37,857,000	20,646,000	31,150,000	26,300,000	1,977,195	2,381,956	1,841,454	5,147,362	5,333,109	3,290,221	3,309,998	266,302	240,317	225,025	166,426	157,923	149,318	117,180	77,172	83,218	82,141	78,493
Property Plant And Equipment Net	164,292,000	66,228,000	44,372,000	88,152,000	37,857,000	20,646,000	31,150,000	26,300,000	1,977,195	2,381,956	1,841,454	5,147,362	5,333,109	3,290,221	3,309,998	266,302	240,317	225,025	166,426	157,923	149,318	117,180	77,172	83,218	82,141	78,493
Property Plant Equipment	173,597,000	72,298,000	47,619,000	83,643,000	55,911,000	37,842,000	31,821,000	27,298,000	5,911,033	292,981	343,063	1,141,170	1,299,679	837,361	873,542	88,325	79,644	72,695	57,512	52,992	49,919	30,044	77,172	83,218	0	0
Retained Earnings	35,245,000	21,159,000	-9,665,000	2,040,000	-27,229,000	14,715,000	11,064,000	-1,390,000	-246,069	-1,066,428	-26,522	403,107	498,199	421,083	126,893	22,921	48,238	127,385	108,154	35,888	5,113	-40,037	3,834	1,354	11,089	31,273
Retained Earnings Total 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
Short Long Term Debt	102,701,000	95,267,000	45,435,000	98,389,000	56,243,000	32,083,000	23,287,000	23,488,000	1,186,000	7,954,826	5,717,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	285,715,000	150,778,000	124,828,000	473,319,000	334,305,000	219,545,000	135,312,000	117,296,000	8,299,003	7,954,826	5,700,938	3,883,180	3,402,537	1,912,902	1,403,588	195,370	144,047	164,701	126,139	140,556	140,134	6,825	13,607	0	0	0
Short Term Debt	108,529,000	97,555,000	47,028,000	112,016,000	56,243,000	32,083,000	23,287,000	23,488,000	2,466,030	2,639,491	1,511,042	1,095,235	1,316,232	1,059,736	536,888	195,370	119,867	66,495	11,495	14,247	1,433	6,825	13,607	0	0	0
Short Term Investments	43,821,000	19,079,000	1,414,000	23,221,000	43,240,000	30,112,000	11,853,000	10,929,000	504,102	495,633	385,585	248,548	575,061	278,968	345,541	484,722	38,934	6,231	59,952	1,553	5,489	86	57,068	24,654	0	0
Temporary Equity Redeemable Noncontrolling Interests	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
Total Assets	1,069,353,000	529,227,000	339,172,000	739,524,000	507,989,000	353,770,000	241,446,000	166,001,000	15,275,443	15,783,688	12,410,725	9,755,212	9,733,418	6,837,888	5,976,056	2,067,326	1,047,461	871,623	743,090	648,277	570,867	359,936	204,489	183,399	194,870	228,727
Total Current Assets	214,938,000	112,988,000	69,981,000	248,707,000	153,059,000	102,434,000	68,360,000	45,121,000	4,212,140	4,987,682	3,288,236	1,922,229	2,265,588	1,453,381	1,157,655	736,000	211,836	95,088	152,676	73,347	58,747	100,719	90,623	57,833	71,804	89,240
Total Current Liabilities	195,017,000	147,579,000	70,427,000	186,094,000	89,602,000	57,054,000	51,191,000	45,599,000	4,463,331	4,800,385	2,664,850	2,100,356	2,364,192	1,928,717	1,313,912	262,039	163,871	102,022	65,952	28,849	15,159	33,422	24,549	6,200	8,095	15,378
Total Liab	586,327,000	322,438,000	233,279,000	608,023,000	418,989,000	278,449,000	192,273,000	150,769,000	11,373,485	11,348,902	7,691,659	5,701,153	5,173,433	3,244,687	2,727,190	305,902	240,483	237,844	219,969	181,461	176,732	46,738	24,799	6,440	8,287	24,323
Total Permanent 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
Total Stockholder Equity	209,674,000	82,303,000	32,446,000	27,081,000	16,820,000	20,925,000	16,405,000	1,021,000	1,518,225	1,961,283	2,509,966	2,063,281	2,213,537	1,968,193	1,812,884	1,760,265	806,160	633,219	522,845	466,751	393,927	312,804	179,447	176,900	186,583	204,404
Treasury Stock	0	0	0	0	16,000	20,000	3,000	7,000	-25,332	0	0	0	0	0	0	0	0	0	0	0	0	0	-4,615	-4,615	0	0
Warrants	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

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31
Accounts Payable	224,484,407	75,933,000	75,933,000	47,483,000	48,658,000	30,922,000	30,922,000	25,469,000	23,461,000	19,585,000	19,585,000	19,630,000	15,593,000	35,823,000	35,823,000	29,571,000	24,847,000	22,599,000	22,599,000	22,501,000	18,786,000	20,994,000	17,892,000	27,437,000	25,741,000	12,416,000	13,298,000	11,405,000	12,218,000	11,180,000	11,180,000	1,194,363	9,627,000	288,294	301,719	373,895	448,310	289,825	289,825	287,314	307,197	277,536	212,797	216,518	242,884	196,503	369,681	149,514	170,638	124,257	124,257	310,241	348,457	403,743	403,743	373,713	371,263	339,894	339,894	208,048	263,617	23,685	23,685	45,421	38,650	17,877	17,877	22,241	25,296	26,468	26,468	17,651	28,130	17,890	17,890	11,274	11,766	11,225	11,225	2,988	6,782	7,361	7,361	4,506	3,552	17,794	17,794	-	-	-	9,548	-	-	-	4,922	2,985	-	-	5,245	-	-	-	8,593	-
Accumulated Amortization	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Accumulated Depreciation	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Accumulated Other Comprehensive Income	192,852,873	50,303,000	0	44,035,000	35,511,000	1,794,000	1,794,000	0	2,258,000	5,975,000	5,975,000	4,727,000	5,482,000	2,152,000	2,152,000	1,132,000	2,765,000	29,392,000	29,392,000	29,545,000	26,306,000	9,265,000	4,983,000	3,967,000	4,271,000	4,072,000	4,098,000	1,916,000	1,472,000	1,176,000	1,176,000	0	1,011,000	388,977	482,160	430,992	489,749	1,576,794	1,576,794	1,384,221	1,108,980	1,158,403	1,086,813	401,594	355,178	-59,442	108,511	573,963	540,072	167,203	167,203	126,436	103,048	-1,313,727	-1,313,727	63,820	0	36,681	36,681	0	0	192,226	192,226	1,746,349	851,357	294,233	294,233	807,590	659,970	177,948	177,948	553,408	166,146	173,835	173,835	261,173	175,255	172,892	172,892	0	173,063	172,986	172,986	0	0	143,230	143,230	-	-	-	10,449	-	-	-	10,381	0	-	-	10,329	-	-	-	7,984	-
Additional Paid In Capital	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Capital Lease Obligations	71,347,000	33,096,000	23,663,000	19,106,000	16,094,000	11,723,000	9,347,000	0	6,869,000	6,003,000	6,160,000	5,538,000	5,295,000	4,232,000	20,855,000	19,332,000	16,925,000	16,133,000	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	-	-	-	0	0	-	-	-	-	-	-	-	-
Capital Stock	588,000	586,000	586,000	573,000	581,000	584,000	590,000	0	589,000	589,000	589,000	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	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Capital Surpluse	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,405,000	8,412,000	8,412,000	6,838,000	6,125,000	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	-	-	-	-	-	-	-	-
Cash	101,782,849	38,936,000	38,936,000	30,609,000	21,470,000	34,911,000	34,911,000	0	26,632,000	27,529,000	27,529,000	12,980,000	6,684,000	100,926,000	100,926,000	60,389,000	67,666,000	62,484,000	62,484,000	62,366,000	54,729,000	71,734,000	38,650,000	34,580,000	30,013,000	26,389,000	25,363,000	22,667,000	24,038,000	14,096,000	14,096,000	1,346,531	13,834,000	1,033,415	633,693	490,792	1,019,837	1,002,987	1,002,987	498,661	512,066	634,759	1,047,586	640,502	524,159	421,357	338,054	235,748	242,086	193,949	193,949	219,459	138,860	80,919	80,919	83,302	57,314	82,459	82,459	68,507	76,399	47,739	47,739	137,634	1,736	45,861	45,861	81,016	15,701	26,026	26,026	10,047	1,292	14,462	14,462	18,432	27,295	12,715	12,715	0	20,574	17,088	17,088	0	0	40,515	40,515	-	-	-	1,891	-	-	-	2,834	0	-	-	3,502	-	-	-	5,395	-
Cash And 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	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	-	-	-	-	-	-	-	-
Cash And Short Term Investments	223,215,546	82,757,000	0	55,487,000	44,781,000	53,990,000	53,990,000	0	28,617,000	28,943,000	28,943,000	15,969,000	9,046,000	122,495,000	122,495,000	96,841,000	106,397,000	105,724,000	105,724,000	102,543,000	96,005,000	116,230,000	68,762,000	56,357,000	51,629,000	44,809,000	37,216,000	33,831,000	35,773,000	25,025,000	25,025,000	0	28,344,000	2,040,341	1,137,795	872,147	1,879,759	1,498,620	1,498,620	997,934	1,340,417	1,215,117	1,433,171	1,123,783	864,207	638,519	586,602	658,442	609,244	769,010	769,010	505,532	431,904	359,887	359,887	320,574	348,046	428,000	428,000	354,332	436,694	532,461	532,461	714,787	2,680	84,795	84,795	125,530	59,512	32,257	32,257	17,944	7,828	74,414	74,414	119,635	29,671	14,268	14,268	0	22,237	22,578	22,578	0	0	40,601	40,601	-	-	-	58,959	-	-	-	2,834	0	-	-	3,502	-	-	-	5,395	-
Common Stock	587,936	586,000	586,000	573,000	581,000	590,000	590,000	589,000	589,000	589,000	589,000	589,000	499,000	499,000	499,000	499,000	499,000	486,000	486,000	495,000	497,000	479,000	482,000	495,000	499,000	499,000	499,000	499,000	499,000	495,000	495,000	32,143	495,000	495,015	494,777	493,494	493,494	490,997	490,997	496,562	496,562	496,562	496,562	496,562	496,562	496,562	496,562	661,123	116,664	496,562	496,562	661,121	661,121	496,560	496,560	501,560	131,504	471,539	471,539	179,974	193,816	500,942	500,942	211,624	154,600	302,523	302,523	153,186	130,854	220,850	220,850	109,091	169,025	162,714	162,714	163,411	156,854	151,045	151,045	0	146,764	124,772	124,772	0	0	125,985	125,985	-	-	-	119,670	-	-	-	119,670	0	-	-	119,670	-	-	-	124,272	-
Common Stock Shares Outstanding	56,947	651,823	591,821	72,550	69,107	695,666	69,500	694,868	694,978	258,085	53,861	528,418	821,924	589,094	49,965	491,905	494,489	490,045	49,930	502,319	477,421	486,215	488,883	499,296	507,083	498,570	499,986	555,556	498,510	526,303	53,399	53,211	493,523	502,474	744,371	527,666	471,582	494,749	53,258	54,119	502,103	492,942	498,921	597,758	556,585	554,295	54,190	66,441	53,579	54,190	54,190	54,189	54,189	54,189	54,189	54,187	54,187	54,187	54,187	57,601	57,601	57,601	57,601	37,726	37,726	35,625	35,625	37,726	37,726	25,351	25,351	37,726	37,726	18,725	18,725	37,726	37,726	17,307	17,307	16,904	14,829	13,681	13,681	40,189	40,189	13,836	13,836	14,426	14,428	14,428	14,117	14,602	14,570	14,594	14,280	13,254	13,257	13,254	12,968	15,288	15,268	15,282	14,952	14,581
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	589,000	499,000	499,000	499,000	499,000	499,000	486,000	486,000	495,000	497,000	479,000	482,000	495,000	499,000	499,000	499,000	499,000	499,000	495,000	495,000	0	495,000	495,015	494,777	493,494	493,494	487,929	490,997	496,562	496,562	496,562	496,562	496,562	496,562	496,562	496,562	661,123	0	661,123	496,562	661,121	661,121	661,121	496,560	501,560	0	0	471,539	0	0	0	500,942	0	0	0	302,523	0	0	0	220,850	0	169,025	163,087	162,714	163,411	156,854	151,591	151,045	0	146,764	0	124,772	0	0	0	125,985	-	-	-	119,670	-	-	-	119,670	0	-	-	119,670	-	-	-	124,272	-
Current Deferred Revenue	6,680,268	9,309,000	0	0	0	0	0	0	0	0	0	1,387,000	1,088,000	7,952,000	7,952,000	6,746,000	6,586,000	4,882,000	4,882,000	60,974,000	54,556,000	66,612,000	3,522,000	4,247,000	3,562,000	4,248,000	4,377,000	2,209,000	3,607,000	4,620,000	4,620,000	0	3,002,000	275,330	264,905	247,562	207,720	258,608	258,608	222,876	209,489	216,601	214,632	308,258	297,837	17,207	239,041	258,751	253,870	269,555	269,555	254,656	139,729	172,932	172,932	197,225	149,639	203,687	203,687	106,310	149,720	25,796	25,796	0	0	12,441	12,441	20,230	17,569	9,293	0	6,144	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Deferred Long Term Asset Charges	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Deferred Long Term Liab	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	513,000	0	0	0	17,000	0	0	0	57,807	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	-	-	-	-	-	-	-	-
Earning 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	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	-	-	-	-	-	-	-	-
Good Will	2,883,684	1,315,000	1,315,000	1,056,000	863,000	605,000	605,000	0	453,000	386,000	386,000	381,000	341,000	5,821,000	5,821,000	5,239,000	4,965,000	4,710,000	4,710,000	4,712,000	4,084,000	4,447,000	3,121,000	4,171,000	3,678,000	2,799,000	2,806,000	2,399,000	2,374,000	2,238,000	2,238,000	296,060	3,787,000	26,133	27,612	27,139	28,295	29,977	29,977	105,404	89,363	0	77,052	0	0	0	-642,720	-672,384	-699,469	-741,056	-741,056	-226,116	-225,267	-389,025	-389,025	-366,557	-378,409	-408,740	-408,740	-309,154	-315,692	0	0	-112,028	-136,370	0	0	-70,062	-72,049	-75,127	0	-17,025	0	0	0	0	0	0	0	289	337	388	0	517	486	498	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Intangible Assets	37,734,000	8,652,000	8,652,000	6,656,000	5,466,000	3,677,000	3,677,000	0	2,895,000	2,604,000	2,604,000	2,288,000	1,455,000	22,371,000	22,371,000	19,535,000	18,880,000	13,494,000	13,494,000	13,400,000	11,530,000	13,026,000	9,242,000	9,706,000	9,191,000	9,316,000	9,637,000	8,685,000	8,979,000	9,576,000	9,576,000	454,247	1,906,000	145,397	148,151	146,049	147,880	145,030	145,030	62,408	48,083	22,447	48,260	24,075	24,692	74,894	93,228	83,692	85,751	79,945	79,945	74,355	75,524	88,585	88,585	72,471	63,437	55,187	55,187	45,870	44,743	22,802	22,802	23,013	21,920	23,044	23,044	23,539	23,550	23,608	23,608	0	-4,999	-30,418	-30,418	-43,554	-36,607	-39,812	0	289	-19,896	372	372	524	492	2,578	2,578	-	-	-	1,799	-	-	-	1,672	0	-	-	-	-	-	-	-	-
Inventory	148,812,697	46,910,000	47,054,000	45,984,000	35,871,000	22,826,000	22,826,000	25,206,000	17,406,000	17,404,000	17,404,000	15,812,000	9,171,000	11,843,000	11,843,000	12,024,000	8,884,000	7,135,000	7,135,000	7,315,000	5,238,000	4,430,000	3,237,000	6,559,000	5,848,000	4,912,000	5,595,000	4,544,000	4,547,000	4,355,000	4,355,000	471,275	3,354,000	581,314	631,348	766,214	757,373	635,601	635,601	863,372	569,210	342,327	349,940	566,210	497,942	286,597	543,267	716,995	755,405	751,961	751,961	551,476	548,107	400,521	400,521	369,303	234,767	139,197	139,197	196,841	183,037	111,394	111,394	106,660	89,205	51,265	51,265	74,714	49,411	28,964	28,964	50,718	49,252	46,274	46,274	47,331	46,105	34,959	34,959	12,682	31,749	22,966	22,966	11,109	9,738	34,910	34,910	-	-	-	13,338	-	-	-	16,766	18,804	-	-	22,800	-	-	-	29,530	-
Liabilities And Stockholders Equity	2,693,437,928	1,069,353,000	0	847,714,000	713,603,000	529,227,000	529,227,000	0	408,339,000	339,172,000	339,172,000	300,006,000	273,482,000	686,940,000	686,940,000	576,494,000	548,567,000	507,989,000	507,989,000	523,909,000	455,673,000	514,115,000	353,770,000	295,258,000	272,904,000	250,310,000	241,446,000	175,621,000	174,553,000	166,001,000	166,001,000	0	140,580,000	15,737,068	15,275,443	14,420,947	14,639,056	15,783,688	15,783,688	15,256,301	13,852,701	12,668,425	12,410,725	12,163,152	11,576,550	10,585,819	9,755,212	9,915,391	9,614,745	9,733,418	9,733,418	7,966,111	7,844,795	6,837,888	6,837,888	6,680,313	6,368,214	5,976,056	5,976,056	5,525,446	5,459,504	2,067,326	2,067,326	2,064,135	1,185,066	1,047,461	1,047,461	1,038,421	914,394	871,623	871,623	781,171	752,548	743,090	743,090	777,470	704,025	648,277	648,277	0	596,071	570,867	570,867	0	0	359,936	359,936	-	-	-	204,489	-	-	-	183,399	0	-	-	194,870	-	-	-	228,727	-
Long Term Debt	482,015,000	198,790,000	159,351,000	122,538,000	104,478,000	85,289,000	46,164,000	0	84,931,000	82,859,000	73,233,000	60,543,000	57,695,000	52,255,000	320,418,000	273,972,000	267,417,000	292,419,000	278,062,000	279,275,000	239,632,000	271,514,000	187,462,000	145,373,000	6,974,047	6,999,060	6,814,481	6,321,520	6,131,700	5,881,647	6,281,384	6,726,568	6,590,276	704,155	638,360	645,659	633,537	658,011	653,786	791,162	808,220	700,850	780,578	745,988	683,032	610,512	618,087	576,741	516,416	546,996	508,494	517,054	447,967	407,542	223,063	258,723	253,081	231,410	228,731	267,129	292,136	0	0	97	0	8,125	8,013	3,829	7,982	32,979	31,726	34,791	36,667	39,503	39,616	0	41,439	41,879	42,385	42,732	43,426	47,908	46,369	51,724	50,001	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Long Term Debt Total	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	279,720,000	304,394,000	312,903,000	279,275,000	239,632,000	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	-	-	-	-	-	-	-	-
Long Term Investments	94,814,000	48,784,000	41,745,000	32,852,000	27,486,000	23,472,000	18,781,000	0	14,725,000	15,329,000	14,319,000	14,729,000	15,137,000	13,957,000	78,643,000	70,801,000	68,257,000	67,483,000	34,284,000	35,342,000	39,611,000	49,558,000	34,239,000	17,556,000	16,528,000	15,884,000	16,224,000	13,734,000	11,729,000	10,500,000	22,747,000	22,262,000	0	0	4,435,000	0	0	0	2,650,351	0	0	0	1,745,000	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	-	-	-	-	-	-	-	-
Negative Goodwill	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Net Debt	710,093,208	246,779,000	223,116,000	193,904,000	176,763,000	115,867,000	115,867,000	0	97,678,000	97,299,000	97,299,000	102,758,000	100,287,000	338,736,000	338,736,000	318,791,000	292,786,000	271,821,000	271,821,000	-52,341,000	189,492,000	-63,291,000	180,895,000	136,128,000	124,139,000	119,002,000	109,949,000	94,999,000	92,678,000	103,200,000	103,200,000	0	89,693,000	7,840,699	7,665,310	7,652,926	6,997,440	6,951,839	6,951,839	7,773,193	6,644,383	5,279,384	4,653,352	4,575,584	4,226,616	3,635,187	3,545,126	3,651,087	3,467,340	3,401,011	3,401,011	2,917,088	3,470,623	1,831,983	1,831,983	1,777,230	2,178,384	1,882,594	1,882,594	1,441,469	1,585,293	147,631	147,631	58,627	216,169	98,185	98,185	56,145	149,493	138,675	138,675	139,834	131,771	111,677	111,677	140,060	146,730	127,841	127,841	0	109,047	123,046	123,046	0	0	-33,691	-33,691	-	-	-	11,717	-	-	-	-2,834	0	-	-	-3,502	-	-	-	-5,395	-
Net Invested Capital	1,215,521,000	646,376,000	471,726,000	365,736,000	306,636,000	248,781,000	223,734,000	0	172,856,000	153,492,000	151,114,000	146,150,000	131,691,000	131,265,000	443,966,000	368,960,000	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	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Net Receivables	228,956,917	78,965,000	78,965,000	60,949,000	55,374,000	33,372,000	33,372,000	36,071,000	27,857,000	22,887,000	22,887,000	25,204,000	18,944,000	44,023,000	44,023,000	41,165,000	34,424,000	27,295,000	27,295,000	9,999,000	7,612,000	11,269,000	17,608,000	19,417,000	18,798,000	13,997,000	14,822,000	12,211,000	13,459,000	12,369,000	12,369,000	13,822,000	11,393,000	1,531,135	1,513,881	1,427,437	1,218,740	1,173,120	1,173,120	1,047,979	966,446	951,289	1,317,296	816,225	877,300	721,461	734,030	695,843	717,379	744,617	744,617	541,112	565,641	692,973	692,973	633,749	568,759	590,458	590,458	451,830	490,383	90,963	90,963	76,271	63,947	59,103	59,103	22,493	21,322	33,867	33,867	21,882	23,331	31,988	31,988	22,277	12,882	24,121	24,121	0	15,587	13,203	13,203	0	0	25,207	25,207	-	-	-	18,326	-	-	-	13,579	0	-	-	19,293	-	-	-	25,097	-
Net Tangible Assets	0	304,833,000	199,707,000	0	118,168,000	96,649,000	78,021,000	54,462,000	52,067,000	32,407,000	29,456,000	33,281,000	28,219,000	29,853,000	-3,033,000	-15,662,000	-8,894,000	-6,569,000	-1,384,000	9,347,000	10,988,000	9,752,000	8,562,000	5,394,000	6,526,000	4,485,000	3,962,000	-8,247,000	-9,074,000	0	1,847,000	0	0	0	8,236,000	0	0	0	1,770,847	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	-	-	-	-	-	-	-	-
Net Working Capital	93,506,000	28,564,000	19,921,000	24,378,000	538,000	-11,378,000	-34,591,000	11,053,000	13,351,000	8,308,000	-446,000	-18,363,000	-27,932,000	-26,772,000	58,162,000	47,269,000	61,175,000	63,457,000	63,457,000	63,166,000	58,069,000	70,480,000	45,380,000	30,372,000	28,036,000	25,013,000	17,169,000	14,279,000	17,757,000	-478,000	-478,000	50,797,103	8,684,000	573,399	-251,191	-965,583	-318,655	187,297	187,297	125,359	-68,559	-107,890	623,386	178,662	-154,445	-20,617	-178,127	-243,714	-384,928	-98,604	-98,604	-359,761	-653,190	-475,336	-475,336	-427,826	-328,311	-156,257	-156,257	-75,209	66,533	473,962	473,962	646,497	-101,460	47,965	47,965	68,759	-51,642	-6,934	-6,934	29,119	28,156	86,724	86,724	111,206	22,836	44,498	44,498	0	58,758	43,588	43,588	0	0	67,297	67,297	-	-	-	66,074	-	-	-	51,633	0	-	-	-	-	-	-	-	-
Non Current Assets Total	2,083,777,718	854,415,000	854,415,000	681,786,000	575,557,000	416,239,000	416,239,000	0	333,605,000	269,191,000	269,191,000	242,043,000	233,520,000	455,917,000	455,917,000	380,567,000	354,597,000	354,930,000	354,930,000	369,348,000	317,383,000	346,932,000	251,336,000	205,393,000	189,354,000	175,034,000	173,086,000	117,498,000	113,068,000	120,880,000	120,880,000	0	92,794,000	11,067,271	11,063,303	11,000,837	10,488,363	10,796,006	10,796,006	11,998,804	10,676,272	9,863,796	9,122,489	9,456,655	9,149,077	8,525,901	7,832,983	7,844,111	7,532,717	7,467,830	7,467,830	6,367,991	6,299,143	5,384,507	5,384,507	5,356,687	5,216,642	4,818,401	4,818,401	4,522,443	4,349,390	1,331,326	1,331,326	1,146,619	1,009,422	835,624	835,624	808,031	778,605	776,535	776,535	685,917	672,136	590,414	590,414	588,227	614,244	574,930	574,930	0	526,497	512,121	512,121	0	0	259,218	259,218	-	-	-	113,866	-	-	-	125,566	0	-	-	123,065	-	-	-	139,487	-
Non Current Liabilities Other	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Non Current Liabilities Total	1,034,914,623	391,310,000	391,310,000	330,492,000	279,005,000	174,859,000	174,859,000	0	195,730,000	162,852,000	162,852,000	120,351,000	113,989,000	391,926,000	391,926,000	343,816,000	332,132,000	329,387,000	329,387,000	327,690,000	280,055,000	313,712,000	221,395,000	173,914,000	157,072,000	151,006,000	141,082,000	110,504,000	109,503,000	105,170,000	105,170,000	0	93,999,000	7,831,660	6,910,154	6,821,237	6,554,781	6,548,517	6,548,517	7,266,865	6,157,736	4,978,421	5,026,809	4,625,688	4,150,342	3,766,509	3,600,797	3,191,028	2,921,634	2,809,241	2,809,241	2,483,753	2,190,179	1,315,970	1,315,970	1,386,374	1,415,748	1,413,278	1,413,278	1,488,160	1,456,623	43,863	43,863	45,528	56,543	76,612	76,612	68,706	66,416	135,822	135,822	161,308	157,017	154,017	154,017	152,223	153,275	152,612	152,612	0	152,519	161,573	161,573	0	0	13,317	13,317	-	-	-	249	-	-	-	240	0	-	-	192	-	-	-	8,946	-
Non Currrent Assets Other	15,890,809	636,983,000	10,507,000	513,365,000	435,921,000	326,883,000	326,883,000	0	265,136,000	207,017,000	207,017,000	185,970,000	180,450,000	266,271,000	266,271,000	209,040,000	198,961,000	259,866,000	259,866,000	270,081,000	229,272,000	248,546,000	182,409,000	135,029,000	125,376,000	113,898,000	111,638,000	63,219,000	61,645,000	59,002,000	59,002,000	0	48,238,000	4,883,448	4,862,629	4,801,313	4,621,684	4,736,050	4,736,050	5,899,647	5,510,560	5,290,154	5,235,891	5,201,838	5,078,930	882,668	747,459	349,694	325,453	357,607	357,607	276,371	464,392	204,218	204,218	661,055	496,112	494,121	494,121	239,669	237,017	1,042,221	1,042,221	972,516	897,059	571,737	571,737	615,778	590,577	527,902	527,902	483,240	464,637	454,407	454,407	472,867	486,129	417,007	417,007	0	398,386	362,431	362,431	0	0	139,460	139,460	-	-	-	34,895	-	-	-	40,676	0	-	-	40,924	-	-	-	60,994	-
Noncontrolling Interest In Consolidated Entity	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Other Assets	0	944,501,000	629,106,000	506,367,000	429,921,000	380,468,000	320,878,000	261,746,000	261,934,000	213,056,000	204,263,000	183,256,000	179,550,000	179,034,000	265,439,000	208,143,000	198,082,000	229,386,000	259,144,000	9,034,000	9,991,000	250,096,000	183,188,000	135,939,000	8,381,874	8,184,925	8,633,966	5,848,650	5,514,891	5,387,983	6,333,077	5,933,038	5,527,753	981,891	994,383	1,001,974	959,251	1,027,118	1,034,928	1,215,875	1,331,245	1,377,923	1,356,457	1,477,483	1,489,443	1,409,584	595,403	592,163	539,798	518,304	520,231	747,468	744,951	573,458	532,996	552,584	517,411	446,805	398,082	361,355	366,272	0	353,236	280,368	248,339	0	0	184,144	176,997	179,477	178,166	148,521	151,388	149,367	146,517	0	149,890	145,122	139,931	133,085	128,177	123,200	121,290	131,296	112,817	48,445	36,417	-	-	-	0	-	-	-	42,348	59,839	-	-	0	-	-	-	-	-
Other Current Assets	8,675,050	6,306,000	6,162,000	3,508,000	2,020,000	2,800,000	2,800,000	1,760,000	854,000	747,000	747,000	978,000	2,801,000	2,773,000	2,773,000	5,551,000	4,528,000	2,655,000	2,655,000	3,592,000	2,632,000	1,211,000	913,000	1,527,000	876,000	453,000	559,000	1,049,000	641,000	455,000	455,000	257,762	346,000	113,809	119,998	478,153	422,049	195,830	195,830	598,669	289,048	100,490	97,564	393,392	280,724	121,521	58,330	17,385	15,431	26,442	18,770	15,750	13,413	21,360	12,478	13,613	13,327	14,987	25,810	4,487	15,601	1,069	1,069	19,799	19,811	10,196	10,196	7,653	0	0	0	4,709	0	0	4,580	0	1,122	0	0	1,747	0	0	0	1,391	889	0	0	-	-	-	0	-	-	-	24,654	12,482	-	-	26,209	-	-	-	29,217	-
Other Current Liab	12,333,649	1,246,000	3,764,000	6,515,000	7,064,000	19,102,000	19,102,000	7,380,000	3,395,000	3,814,000	3,814,000	4,226,000	5,676,000	25,036,000	25,036,000	21,390,000	20,630,000	5,878,000	5,878,000	2,525,000	2,290,000	2,979,000	3,557,000	2,474,000	2,269,000	10,977,000	10,229,000	9,953,000	7,734,000	6,311,000	6,311,000	277,184	8,534,000	1,285,366	1,430,677	1,310,143	1,206,268	1,612,461	1,612,461	629,159	820,033	536,745	726,379	604,726	639,768	671,163	396,399	544,147	545,462	473,823	473,823	345,302	245,223	292,306	292,306	268,345	75,630	136,057	136,057	245,005	200,160	17,187	17,187	29,645	20,548	13,687	13,687	7,187	4,269	9,059	9,059	2,102	2,823	36,567	36,567	24,778	5,431	3,378	3,378	372	2,644	6,364	6,364	2,399	2,570	8,804	8,804	-	-	-	1,394	-	-	-	1,278	1,993	-	-	2,850	-	-	-	6,785	-
Other Liab	0	325,407,000	214,124,000	193,531,000	162,558,000	147,471,000	121,636,000	108,056,000	105,947,000	89,718,000	85,052,000	55,696,000	52,555,000	51,687,000	56,314,000	55,587,000	52,412,000	51,370,000	51,325,000	48,415,000	40,423,000	42,198,000	33,933,000	28,541,000	226,613	221,028	360,843	358,693	327,966	305,301	247,751	240,527	224,763	107,284	101,395	96,255	93,746	106,708	93,866	57,004	58,827	74,229	57,128	51,471	47,084	73,233	48,132	43,516	45,124	55,394	40,646	35,754	44,417	56,873	48,551	40,854	63,756	93,364	92,132	92,597	80,086	586	695	570	20	559	758	4,539	486	388	470	485	177	411	37	0	0	0	0	0	0	97	0	6,650	5,727	4,289	3,414	-	-	-	250	-	-	-	240	0	-	-	-	-	-	-	-	-
Other Stockholder Equity	243,299,346	123,540,000	103,306,000	103,173,000	84,355,000	58,760,000	58,760,000	24,192,000	42,963,000	35,547,000	35,547,000	31,998,000	24,629,000	20,468,000	20,468,000	19,399,000	17,960,000	14,171,000	14,171,000	12,920,000	11,521,000	745,000	745,000	745,000	744,000	744,000	744,000	744,000	744,000	740,000	740,000	0	740,000	791,362	787,357	785,437	767,816	959,920	959,920	964,161	964,185	958,685	953,113	955,553	952,471	1,481,556	1,487,225	886,000	1,547,123	1,051,573	1,051,573	885,992	885,991	2,364,277	2,364,277	1,212,494	1,922,736	1,177,771	1,177,771	1,668,492	1,676,222	1,044,176	1,044,176	0	0	161,166	161,166	0	0	107,036	107,036	0	78,181	78,141	78,141	114,534	110,508	106,926	106,926	0	104,354	91,056	91,056	0	0	243,327	243,327	-	-	-	64,209	-	-	-	63,495	0	-	-	62,230	-	-	-	54,569	-
Preferred Stock Redeemable	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Preferred Stock Total 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	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	8	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Property Plant And Equipment Gross	557,963,000	279,300,000	205,490,000	158,953,000	130,956,000	109,765,000	0	0	0	0	0	38,396,000	34,738,000	29,710,000	81,884,000	75,278,000	62,911,000	60,969,000	37,857,000	37,351,000	31,449,000	28,720,000	20,646,000	37,189,000	32,859,000	31,464,000	31,150,000	27,394,000	26,233,000	26,373,000	26,300,000	0	21,005,000	1,826,815	1,977,195	2,171,317	2,296,639	2,354,029	2,381,956	2,348,998	2,031,825	1,935,584	1,841,454	1,895,329	1,845,380	1,920,538	5,147,362	5,252,362	5,212,002	5,176,037	5,333,109	3,347,915	3,340,641	3,315,952	3,290,221	2,762,039	3,243,299	3,287,352	3,309,998	3,181,710	3,087,468	289,542	266,302	263,118	226,813	250,571	240,317	238,379	236,126	231,217	225,025	219,702	212,498	208,629	166,426	158,914	164,722	159,727	157,923	0	148,007	0	149,318	0	0	0	117,180	-	-	-	77,172	-	-	-	83,218	0	-	-	82,141	-	-	-	78,493	-
Property Plant And Equipment Net	486,628,689	164,292,000	164,292,000	126,855,000	105,171,000	66,228,000	66,228,000	0	49,787,000	44,372,000	44,372,000	38,396,000	34,738,000	81,884,000	81,884,000	75,278,000	62,911,000	37,857,000	37,857,000	37,351,000	31,449,000	28,720,000	20,646,000	37,189,000	32,859,000	31,464,000	31,150,000	27,394,000	26,233,000	26,300,000	26,300,000	0	21,005,000	1,826,815	1,977,195	2,171,317	2,296,639	2,381,956	2,381,956	2,348,998	2,031,825	1,935,584	1,841,454	1,895,329	1,845,380	1,920,538	5,147,362	5,252,362	5,212,002	5,333,109	5,333,109	3,347,915	3,340,641	3,290,221	3,290,221	2,762,039	3,243,299	3,309,998	3,309,998	3,181,710	3,087,468	266,302	266,302	263,118	226,813	240,317	240,317	238,379	236,126	225,025	225,025	219,702	212,498	166,426	166,426	158,914	164,722	157,923	157,923	0	148,007	149,318	149,318	0	0	117,180	117,180	-	-	-	77,172	-	-	-	83,218	0	-	-	82,141	-	-	-	78,493	-
Property Plant Equipment	0	234,644,000	173,597,000	134,855,000	111,821,000	94,861,000	72,298,000	60,077,000	53,598,000	50,392,000	47,619,000	41,389,000	37,037,000	31,691,000	83,643,000	76,849,000	64,413,000	62,354,000	39,120,000	282,098,000	238,780,000	29,805,000	21,546,000	38,021,000	1,759,926	1,793,763	1,894,855	1,778,145	1,666,058	1,717,145	1,761,048	1,601,215	1,617,385	194,117	216,384	246,401	268,936	278,952	292,981	295,974	312,901	336,404	343,063	370,347	376,328	409,843	1,141,170	1,200,060	1,212,312	1,229,308	1,299,679	828,609	841,173	835,619	837,361	832,655	850,393	858,196	873,542	857,534	896,138	93,150	88,325	83,497	71,972	80,114	79,644	77,058	77,042	74,533	72,695	69,990	69,989	71,510	57,512	0	54,925	52,640	52,992	53,280	50,122	50,119	49,919	44,397	37,514	35,075	30,044	-	-	-	77,172	-	-	-	83,218	65,332	-	-	-	-	-	-	-	-
Retained Earnings	28,319,897	35,245,000	40,501,000	12,548,000	4,050,000	21,159,000	21,159,000	7,108,000	9,605,000	-9,665,000	-9,665,000	-1,364,000	-595,000	2,040,000	2,040,000	-11,918,000	-6,273,000	-27,229,000	-27,229,000	-15,501,000	-11,722,000	16,736,000	14,715,000	14,064,000	13,881,000	11,285,000	11,064,000	-322,000	-436,000	-1,390,000	-1,390,000	616	-772,000	-173,928	-246,069	-487,001	-215,373	-1,066,428	-1,066,428	-493,359	-331,151	-124,371	-26,522	780,504	756,773	650,093	-29,017	71,692	46,084	498,199	498,199	427,396	392,605	421,083	421,083	186,934	98,523	126,893	126,893	32,752	37,517	22,921	22,921	67,399	62,790	48,238	48,238	53,767	47,693	127,385	127,385	41,184	129,723	108,154	108,154	7,734	41,184	35,888	35,888	0	8,450	5,113	5,113	0	0	-40,037	-40,037	-	-	-	3,834	-	-	-	1,354	0	-	-	11,089	-	-	-	31,273	-
Retained Earnings Total 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	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	-	-	-	-	-	-	-	-
Short Long Term Debt	258,603,000	129,144,000	102,701,000	82,869,000	77,661,000	61,378,000	95,267,000	0	32,510,000	35,118,000	45,435,000	49,657,000	43,981,000	47,535,000	98,389,000	85,876,000	76,110,000	72,023,000	56,243,000	5,395,000	52,378,000	62,346,000	30,961,000	24,889,000	23,651,000	22,033,000	23,161,000	117,666,000	116,716,000	110,445,000	22,091,000	123,382,000	0	0	1,186,000	0	0	0	7,954,826	0	0	0	5,717,000	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	-	-	-	-	-	-	-	-
Short Long Term Debt Total	811,876,057	285,715,000	0	224,513,000	198,233,000	150,778,000	150,778,000	0	124,310,000	124,828,000	124,828,000	115,738,000	106,971,000	439,662,000	439,662,000	379,180,000	360,452,000	334,305,000	334,305,000	10,025,000	244,221,000	8,443,000	219,545,000	170,708,000	154,152,000	145,391,000	135,312,000	117,666,000	116,716,000	117,296,000	117,296,000	0	103,527,000	8,874,114	8,299,003	8,143,718	8,017,277	7,954,826	7,954,826	8,271,854	7,156,449	5,914,143	5,700,938	5,216,086	4,750,775	4,056,544	3,883,180	3,886,835	3,709,426	3,594,960	3,594,960	3,136,547	3,609,483	1,912,902	1,912,902	1,860,532	2,235,698	1,965,053	1,965,053	1,509,976	1,661,692	195,370	195,370	196,261	217,906	144,047	144,047	137,161	165,195	164,701	164,701	149,881	133,063	126,139	126,139	158,492	174,025	140,556	140,556	0	129,621	140,134	140,134	0	0	6,825	6,825	-	-	-	13,607	-	-	-	0	0	-	-	-	-	-	-	-	-
Short Term Debt	272,666,129	108,529,000	0	87,552,000	81,786,000	97,555,000	97,555,000	0	34,527,000	47,028,000	47,028,000	51,083,000	45,537,000	104,050,000	104,050,000	90,951,000	80,732,000	56,243,000	56,243,000	5,395,000	4,589,000	6,118,000	32,083,000	25,335,000	23,942,000	22,622,000	23,287,000	20,277,000	20,169,000	23,488,000	23,488,000	123,382,000	17,939,000	2,247,408	2,466,030	2,454,093	2,607,050	2,639,491	2,639,491	1,992,789	1,908,269	1,881,637	1,511,042	1,398,333	1,401,429	1,195,662	1,095,235	1,362,582	1,496,986	1,496,557	1,496,557	1,047,682	1,465,433	1,059,736	1,059,736	912,169	883,351	634,274	634,274	518,849	430,084	195,370	195,370	195,954	217,906	119,867	119,867	111,973	140,298	66,495	66,495	40,237	21,302	11,495	11,495	41,985	49,747	14,247	14,247	0	1,390	1,433	1,433	0	0	6,825	6,825	-	-	-	13,607	-	-	-	0	0	-	-	-	-	-	-	-	-
Short Term Investments	121,432,697	43,821,000	43,821,000	24,878,000	23,311,000	19,079,000	19,079,000	0	1,985,000	1,414,000	1,414,000	2,989,000	2,362,000	21,569,000	21,569,000	36,452,000	38,731,000	43,240,000	43,240,000	40,177,000	41,276,000	44,496,000	30,112,000	21,777,000	21,616,000	18,420,000	11,853,000	11,164,000	11,735,000	10,929,000	10,929,000	748,050	14,510,000	1,006,926	504,102	381,355	859,922	495,633	495,633	499,273	828,351	580,358	385,585	483,281	340,048	217,162	248,548	422,694	367,158	575,061	575,061	286,073	293,044	278,968	278,968	237,272	290,732	345,541	345,541	285,825	360,295	484,722	484,722	577,153	944	38,934	38,934	44,514	43,810	6,231	6,231	7,897	6,536	59,952	59,952	101,204	2,377	1,553	1,553	0	1,663	5,489	5,489	0	0	86	86	-	-	-	57,068	-	-	-	0	0	-	-	-	-	-	-	-	-
Temporary Equity Redeemable Noncontrolling Interests	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Total Assets	2,693,437,928	1,069,353,000	1,069,353,000	847,714,000	713,603,000	529,227,000	529,227,000	408,339,000	408,339,000	339,172,000	339,172,000	300,006,000	273,482,000	686,940,000	686,940,000	576,494,000	548,567,000	507,989,000	507,989,000	523,909,000	455,673,000	514,115,000	353,770,000	295,258,000	272,904,000	250,310,000	241,446,000	175,621,000	174,553,000	166,001,000	166,001,000	11,229,091	140,580,000	15,737,068	15,275,443	14,420,947	14,639,056	15,783,688	15,783,688	15,256,301	13,852,701	12,668,425	12,410,725	12,163,152	11,576,550	10,585,819	9,755,212	9,915,391	9,614,745	9,733,418	9,733,418	7,966,111	7,844,795	6,837,888	6,837,888	6,680,313	6,368,214	5,976,056	5,976,056	5,525,446	5,459,504	2,067,326	2,067,326	2,064,135	1,185,066	1,047,461	1,047,461	1,038,421	914,394	871,623	871,623	781,171	752,548	743,090	743,090	777,470	704,025	648,277	648,277	211,949	596,071	570,867	570,867	205,032	174,190	359,936	359,936	204,489	204,489	204,489	204,489	185,862	185,862	185,862	183,399	180,320	194,870	194,870	194,870	228,727	228,727	228,727	228,727	228,727
Total Current Assets	609,660,211	214,938,000	214,938,000	165,928,000	138,046,000	112,988,000	112,988,000	88,813,000	74,734,000	69,981,000	69,981,000	57,963,000	39,962,000	231,023,000	231,023,000	195,927,000	193,970,000	153,059,000	153,059,000	154,561,000	138,290,000	167,183,000	102,434,000	89,865,000	83,550,000	75,276,000	68,360,000	58,123,000	61,485,000	45,121,000	45,121,000	54,026,000	47,786,000	4,669,797	4,212,140	3,420,110	4,150,693	4,987,682	4,987,682	3,257,497	3,176,429	2,804,629	3,288,236	2,706,497	2,427,473	2,059,918	1,922,229	2,071,280	2,082,028	2,265,588	2,265,588	1,598,120	1,545,652	1,453,381	1,453,381	1,323,626	1,151,572	1,157,655	1,157,655	1,003,003	1,110,114	736,000	736,000	917,517	175,644	211,836	211,836	230,390	135,789	95,088	95,088	95,253	80,411	152,676	152,676	189,243	89,781	73,347	73,347	0	69,574	58,747	58,747	0	0	100,719	100,719	-	-	-	90,623	-	-	-	57,833	0	-	-	71,804	-	-	-	89,240	-
Total Current Liabilities	516,164,453	195,017,000	195,017,000	141,550,000	137,508,000	147,579,000	147,579,000	77,760,000	61,383,000	70,427,000	70,427,000	76,326,000	67,894,000	172,861,000	172,861,000	148,658,000	132,795,000	89,602,000	89,602,000	91,395,000	80,221,000	96,703,000	57,054,000	59,493,000	55,514,000	50,263,000	51,191,000	43,844,000	43,728,000	45,599,000	45,599,000	3,228,897	39,102,000	4,096,398	4,463,331	4,385,693	4,469,348	4,800,385	4,800,385	3,132,138	3,244,988	2,912,519	2,664,850	2,527,835	2,581,918	2,080,535	2,100,356	2,314,994	2,466,956	2,364,192	2,364,192	1,957,881	2,198,842	1,928,717	1,928,717	1,751,452	1,479,883	1,313,912	1,313,912	1,078,212	1,043,581	262,039	262,039	271,020	277,103	163,871	163,871	161,631	187,431	102,022	102,022	66,134	52,255	65,952	65,952	78,037	66,944	28,849	28,849	5,513	10,816	15,159	15,159	11,049	8,397	33,422	33,422	-	-	-	24,549	-	-	7,115	6,200	5,222	-	-	8,095	-	-	-	15,378	-
Total Liab	1,551,079,076	586,327,000	586,327,000	472,042,000	416,513,000	322,438,000	322,438,000	0	257,113,000	233,279,000	233,279,000	196,677,000	181,883,000	564,787,000	564,787,000	492,474,000	464,927,000	418,989,000	418,989,000	419,085,000	360,276,000	410,415,000	278,449,000	233,407,000	212,586,000	201,269,000	192,273,000	154,348,000	153,231,000	150,769,000	150,769,000	10,564,272	133,101,000	11,928,058	11,373,485	11,206,930	11,024,129	11,348,902	11,348,902	10,399,003	9,402,724	7,890,940	7,691,659	7,153,523	6,732,260	5,847,044	5,701,153	5,506,022	5,388,590	5,173,433	5,173,433	4,441,634	4,389,021	3,244,687	3,244,687	3,137,826	2,895,631	2,727,190	2,727,190	2,566,372	2,500,204	305,902	305,902	316,548	333,647	240,483	240,483	230,337	253,848	237,844	237,844	227,442	209,272	219,969	219,969	230,260	220,219	181,461	181,461	57,443	163,335	176,732	176,732	69,423	64,125	46,738	46,738	-	-	-	24,799	-	-	7,366	6,440	5,222	-	-	8,287	-	-	-	24,323	-
Total Permanent 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	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	-	-	-	-	-	-	-	-
Total Stockholder Equity	474,850,979	209,674,000	209,674,000	160,329,000	124,497,000	82,303,000	82,303,000	0	55,415,000	32,446,000	32,446,000	35,950,000	30,015,000	25,159,000	25,159,000	9,112,000	14,951,000	16,820,000	16,820,000	27,459,000	26,602,000	27,225,000	20,925,000	19,271,000	19,395,000	16,600,000	16,405,000	2,837,000	2,279,000	1,021,000	1,021,000	89,523	1,474,000	1,501,426	1,518,225	1,222,922	1,535,686	1,961,283	1,961,283	2,351,585	2,238,576	2,489,279	2,509,966	2,634,213	2,560,984	2,568,769	2,063,281	2,192,778	2,133,279	2,213,537	2,213,537	2,100,945	2,042,765	1,968,193	1,968,193	1,964,808	1,922,736	1,812,884	1,812,884	1,668,492	1,676,222	1,760,265	1,760,265	1,746,349	851,357	806,160	806,160	807,590	659,970	633,219	633,219	553,408	543,075	522,845	522,845	546,852	483,800	466,751	466,751	154,489	432,631	393,927	393,927	135,520	109,971	312,804	312,804	-	-	-	179,447	-	-	178,407	176,900	175,098	-	-	186,583	-	-	-	204,404	-
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,000	16,000	16,000	7,000	5,000	-22,727	-27,089	-10,083	-1,284	-1,368	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	-	-	-	-4,615	-	-	-	-4,615	0	-	-	-	-	-	-	-	-
Warrants	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-

Cash Flow

Currency in ARS. All numbers in thousands.

	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30
Begin Period Cash Flow	75,261,000	45,143,000	151,591,000	96,140,000	60,129,000	25,363,000	14,096,000	634,000	1,002,987	1,047,586	471,922	705,544	175,653	211,676	521,086	86,082	26,753	67,537	13,132	20,940	44,580	3,870	11,188	18,473	34,796	83,011
Capital Expenditures	18,568,000	4,137,000	2,107,000	1,623,000	8,525,000	3,070,000	4,153,000	1,282,000	244,762	183,677	156,005	245,825	169,819	211,604	308,373	27,986	28,658	55,833	28,444	4,908	31,167	844	1,436	2,675	6,031	20,638
Cash And Cash Equivalents Changes	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
Cash Flows Other Operating	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
Change In Cash	-36,325,000	-10,232,000	-124,062,000	12,512,000	2,355,000	13,287,000	11,267,000	13,462,000	-369,294	-44,598	575,664	-155,713	529,891	-36,023	-309,410	434,392	57,466	-40,130	54,301	-8,225	-23,536	36,652	-9,260	-7,285	-10,872	-48,399
Change In Working Capital	-5,939,000	15,981,000	5,075,000	5,378,000	92,000	1,386,000	1,332,000	-169,000	-275,097	259,252	183,654	-105,356	-299,956	-298,845	-101,900	-60,120	-59,892	-22,502	-13,653	-19,958	21,513	12,198	9,435	9,578	-1,238	-35,580
Change Receivables	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
Change To Account Receivables	11,429,000	5,715,353	4,184,000	10,826,000	1,825,186	112,000	-2,622,000	-715,000	-480,000	32,997	-265,000	-151,579	-156,883	-143,336	-130,479	0	0	0	0	0	3,635	2,021	0	5,474	0	0
Change To Inventory	20,114,000	295,000	-4,667,000	207,000	485,000	-103,000	79,000	150,000	-131,634	-189,686	-52,463	279,930	-58,549	-36,908	82,821	-71,006	-27,630	9,952	-8,817	-17,151	19,095	-3,379	5,451	6,056	7,874	-28,101
Change To Liabilities	-34,293,000	-6,623,000	653,000	-6,161,000	-3,562,000	1,212,000	1,450,000	357,000	134,000	-170,000	0	0	0	0	0	5,011	4,990	0	2,453	2,573	0	396	4,882	0	0	0
Change To Netincome	6,110,000	-34,636,000	18,877,000	7,820,000	43,902,000	5,635,000	6,938,000	-1,508,000	-632,000	1,394,000	0	0	0	0	0	0	0	0	0	0	0	1,554	0	0	0	0
Change To Operating Activities	-3,189,000	-1,995,000	-4,186,000	-3,933,000	-489,000	-438,000	245,000	-544,000	77,000	65,000	-5,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2,688,000	4,787,000	3,452,000	687,000	7,605,000	3,764,000	4,857,000	2,769,000	257,822	296,919	279,738	181,967	128,564	136,864	97,813	6,466	4,357	5,118	4,167	3,603	3,573	3,629	1,688	1,690	1,542	1,173
Dividends Paid	43,860,000	-16,772,000	711,000	320,000	466,000	940,000	2,610,000	239,000	33,509	243,637	239,352	134,129	190,406	97,262	43,065	8,240	5,375	10,011	2,999	1,505	1,727	7,311	1,287	10,997	3,774	0
End Period Cash Flow	38,936,000	34,911,000	27,529,000	108,652,000	62,484,000	38,650,000	25,363,000	14,096,000	633,693	1,002,988	1,047,586	549,831	705,544	175,653	211,676	520,474	84,220	27,407	67,433	12,715	21,044	40,522	1,928	11,188	23,924	34,612
Exchange Rate Changes	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
Free Cash Flow	17,406,000	17,670,000	6,779,000	36,846,000	9,349,000	10,705,000	5,088,000	2,773,000	249,752	699,486	492,514	611,213	383,418	-43,995	-18,630	-104,179	-83,520	-77,326	18,347	-334	-19,675	19,954	6,446	7,320	-7,591	-38,710
Investments	14,916,000	-9,721,000	15,516,000	40,311,000	7,383,000	-11,972,000	-2,415,000	8,652,000	-1,312,000	-1,169,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	44,666,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	-6,253,000	-16,911,000	-35,070,000	-40,916,000	-4,609,000	2,265,000	18,889,000	1,571,000	-616,000	317,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	78,179,000	63,000,000	-16,245,000	25,080,000	-28,977,000	5,301,000	2,010,000	-1,891,000	176,211	-1,092,808	154,263	78,263	212,565	185,406	124,616	22,921	48,238	32,920	76,766	32,212	65,378	-40,600	3,834	1,354	1,041	18,868
Other Cashflows From Financing Activities	75,380,000	8,910,000	46,860,000	-41,373,000	-5,697,000	22,784,000	1,834,000	11,353,000	-294,341	157,038	1,180,147	828,191	1,407,874	752,497	35,969	29,783	36,292	48,717	-6,465	-5,249	164,688	-12,793	13,396	-869	-8,567	-20
Other Cashflows From Investing Activities	1,583,000	3,633,000	44,988,000	9,568,000	-4,212,000	-17,337,000	6,272,000	-14,235,000	1,104,677	180,000	0	328	2,938	0	0	0	0	0	32,308	0	0	0	0	169	0	0
Other Non Cash Items	-10,994,000	-63,938,000	-15,880,000	15,537,000	37,280,000	3,058,000	-1,921,000	3,489,000	1,405	1,740,601	-13,204	685,946	630,863	-37,813	303,933	-45,461	-47,565	-37,030	-77,376	-16,191	-78,973	45,571	-7,075	-2,627	-2,904	-2,534
Sale Purchase Of Stock	-6,880,000	-150,000	-44,666,000	-112,000	-859,000	-763,000	22,739,000	0	-32,851	-97,726	0	0	0	0	-73,201	0	0	0	0	0	0	0	0	0	-15,109	0
Stock Based Compensation	44,761,000	0	4,544,000	-16,761,000	44,000	33,000	101,000	54,000	30,823	68,614	10,549	2,799	-244,242	36,045	-227,401	0	0	0	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	-90,743,000	-37,016,000	-54,165,000	-78,184,000	-18,006,000	-2,299,000	1,910,000	-4,495,000	-1,778,241	-446,249	-17,160	-283,974	768,166	319,807	-241,767	916,753	113,175	92,353	1,691	16,727	166,544	-19,541	12,109	-11,865	-27,450	-20
Total Cash From Operating Activities	35,974,000	21,807,000	8,886,000	38,469,000	17,874,000	13,775,000	9,241,000	4,055,000	494,514	883,163	648,519	857,038	553,237	167,609	289,743	-76,194	-54,862	-21,494	-10,097	-334	11,492	20,798	7,882	9,995	-1,559	-18,072
Total Cashflows From Investing Activities	14,916,000	12,894,000	73,657,000	40,311,000	10,552,000	-31,553,000	-4,634,000	8,640,000	873,910	-886,000	-93,000	0	0	0	0	0	0	0	21,670	0	0	9,075	0	0	0	0

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2001-06-30	2000-06-30	2000-03-31
Begin Period Cash Flow	78,497,297	30,609,000	30,609,000	21,470,000	28,670,000	28,670,000	43,084,000	26,632,000	27,196,000	12,980,000	12,980,000	6,684,000	13,223,000	60,389,000	60,389,000	67,666,000	65,591,000	62,366,000	62,366,000	54,729,000	71,734,000	38,650,000	34,580,000	30,013,000	26,389,000	25,363,000	22,667,000	24,038,000	15,724,000	19,689,000	19,689,000	13,834,000	1,033,415	633,693	490,792	1,019,837	1,481,752	498,661	498,661	512,066	634,759	1,047,586	640,502	524,159	421,357	471,922	566,984	561,935	791,720	450,354	450,354	335,385	503,338	120,801	120,801	129,556	198,340	166,909	166,909	241,148	319,648	713,998	713,998	1,766	14,539	86,933	86,933	21,318	29,268	10,838	10,838	1,292	35,425	18,260	18,260	27,295	12,205	6,308	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditures	24,688,165	8,079,000	7,908,000	3,247,000	2,860,000	2,860,000	1,008,000	3,121,000	1,072,000	826,000	826,000	549,000	386,000	3,071,000	3,071,000	2,662,000	2,662,000	3,084,000	3,084,000	2,384,000	1,983,000	1,074,000	525,000	1,449,000	927,000	1,310,000	1,129,000	1,392,000	833,000	343,000	343,000	891,000	50,801	97,973	54,823	45,781	74,865	81,352	81,352	34,828	37,358	30,139	63,922	13,017	60,312	139,204	59,196	37,044	90,561	64,031	64,031	41,786	38,466	105,643	105,643	49,545	24,738	71,568	71,568	84,826	136,489	5,192	5,192	14,001	2,003	9,125	9,125	5,707	5,850	6,254	6,254	15,794	15,079	31,939	8,967	3,072	1,653	810	4,908	3,007	1,035	742	10,419	626	254	132	216	1,436	2,675	1,158
Cash And Cash Equivalents Changes	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	23,285,553	8,327,000	-6,132,000	9,139,000	-7,200,000	-7,200,000	-8,173,000	16,452,000	-564,000	14,549,000	14,549,000	6,296,000	-6,539,000	40,537,000	40,537,000	-7,277,000	2,075,000	118,000	118,000	7,637,000	-17,005,000	33,084,000	4,070,000	4,567,000	3,624,000	1,026,000	2,696,000	-1,371,000	8,314,000	-5,593,000	-5,593,000	5,855,000	12,800,585	399,722	142,901	-529,045	-461,915	504,327	504,327	-13,405	-122,693	-412,827	407,084	116,343	102,802	-50,565	-17,153	5,049	-229,785	255,190	255,190	114,969	-167,953	54,852	54,852	-8,755	-68,784	44,767	44,767	-74,239	-78,500	-193,525	-193,525	712,233	-12,773	-2,713	-2,713	65,615	-7,950	16,570	16,570	9,546	-34,133	49,173	49,173	-9,034	15,090	5,897	0	0	0	0	0	0	0	0	0	0	0	0
Change In Working Capital	-70,121,350	16,525,000	16,525,000	-8,381,000	-20,042,000	-20,042,000	1,833,000	8,524,000	-1,834,000	1,436,000	1,436,000	-2,802,000	142,000	2,975,000	2,975,000	-226,000	2,530,000	1,856,000	1,856,000	-292,000	-1,120,000	-352,000	1,703,000	76,000	565,000	-958,000	900,000	-63,000	72,000	-524,000	-524,000	611,000	-290,121	34,121	22,201	-612,579	187,594	-9,622	-9,622	-56,493	98,386	226,981	-365,239	130,543	259,255	159,095	64,306	-23,466	-90,627	-37,904	-37,904	-107,464	-998	-40,126	-40,126	-112,167	-118,438	152,459	152,459	-68,919	-152,562	-26,825	-26,825	-12,345	-16,659	-19,890	-19,890	-34,617	-451	13,987	13,987	-20,865	-6,215	-9,409	-24,482	88,370	-12,228	7,126	0	0	15,170	0	0	0	0	0	1,223	14,441	0	0
Change Receivables	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	17,894,555	-7,700,000	1,159,000	1,159,000	-7,970,000	3,913,000	4,762,000	-1,395,000	-2,776,000	3,987,000	5,999,000	-498,000	27,000	-1,344,000	2,218,000	4,518,000	1,893,000	2,197,000	277,000	696,000	1,163,000	-501,000	-591,000	1,640,000	-1,698,000	39,850	-1,107,000	591,000	591,000	-347,000	-715,000	172,000	0	0	-480,000	0	0	5,817	32,997	14,812	23,324	21,094	-265,000	0	0	0	-188,204	37,575	-47,036	-69,454	-69,454	41,676	-66,433	-52,065	-52,065	-83,222	-30,205	-44,129	-44,129	-26,673	0	0	0	0	1,561	0	0	0	0	0	0	0	2,991	951	0	1,550	1,760	223	0	0	627	1,273	3,635	0	0	0	2,021	0	5,474	0
Change To Inventory	-19,315,601	17,226,000	17,226,000	2,217,000	6,755,000	6,755,000	-3,843,000	16,151,000	3,344,000	-6,104,000	-6,104,000	-1,750,000	2,136,000	-1,445,000	-1,445,000	413,000	1,678,000	310,000	310,000	-232,000	555,000	-148,000	-1,587,000	835,000	-30,000	679,000	-903,000	528,000	109,000	-276,000	-276,000	673,000	99,353	26,647	-245,091	44,510	123,188	-440,425	-440,425	50,359	194,209	6,171	-83,160	34,560	-47,615	43,752	168,033	59,151	-15,566	-31,565	-31,565	529	-5,950	23,662	23,662	-32,345	-38,430	122,080	122,080	-1,168	-50,365	-7,320	-7,320	-20,625	-43,169	20,732	20,732	-28,804	-23,491	20,139	20,139	-8,054	-4,703	2,570	0	0	-18,744	7,970	0	0	0	223	6,384	3,443	0	0	0	5,451	6,057	0
Change To Liabilities	0	27,778,000	-3,575,000	0	-10,902,000	3,866,000	-5,058,000	235,000	813,000	-2,613,000	499,000	-1,621,000	-2,246,000	4,021,000	608,000	-3,697,000	-965,000	-2,107,000	-320,000	-683,000	-1,738,000	171,000	3,512,000	-2,402,000	2,148,000	-2,298,000	660,000	-1,458,000	0	0	357,000	0	0	0	134,000	0	0	0	-170,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,544	0	5,011	0	0	0	4,990	3,186	2,871	0	0	0	0	0	2,453	0	0	0	2,573	90	0	0	0	0	0	0	396	4,882	0	0
Change To Netincome	0	-27,593,000	-11,505,000	4,646,000	3,854,000	-1,640,000	-17,315,000	-401,000	-16,350,000	-570,000	23,024,000	-4,640,000	5,513,000	-5,020,000	-12,425,000	7,827,000	6,668,000	5,750,000	18,036,000	3,290,000	9,060,000	-1,460,000	2,843,000	1,306,000	-2,822,000	1,906,000	3,146,000	-111,000	-111,000	0	-1,508,000	0	0	0	-632,000	0	0	0	1,394,000	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	1,554	0	0	0
Change To Operating Activities	0	-3,082,000	1,715,000	-1,243,000	-2,121,000	-1,540,000	1,012,000	-1,507,000	-402,000	-1,098,000	-3,925,000	-1,412,000	449,000	702,000	-1,231,000	-2,785,000	884,000	-801,000	193,000	-168,000	-135,000	-232,000	371,000	322,000	8,000	-222,000	1,191,000	164,000	164,000	-79,000	-544,000	130,000	0	0	77,000	0	0	0	65,000	0	0	0	-5,000	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
Depreciation	3,572,065	1,089,000	625,000	675,000	614,000	614,000	3,210,000	1,118,000	253,000	2,911,000	2,911,000	231,000	145,000	4,709,000	4,709,000	4,746,000	3,974,000	2,226,000	2,226,000	2,323,000	1,902,000	1,154,000	-340,000	1,372,000	1,452,000	1,280,000	408,000	1,483,000	1,524,000	1,545,000	1,545,000	1,086,000	67,494	70,506	62,331	69,046	63,180	78,470	78,470	74,838	75,376	68,235	68,705	72,658	70,854	67,521	48,755	47,405	43,682	19,207	19,207	35,112	35,020	39,633	39,633	31,885	30,948	24,413	24,413	34,001	27,531	2,353	2,353	1,877	1,054	1,087	1,087	1,118	852	1,602	1,602	1,254	1,442	819	0	0	975	804	0	0	0	0	0	0	0	0	0	0	0	0
Dividends Paid	-202,820,783	32,258,000	32,258,000	2,051,000	9,551,000	9,551,000	0	6,152,000	0	69,000	69,000	93,000	735,000	897,000	897,000	276,000	1,173,000	107,000	107,000	36,000	323,000	323,000	395,000	8,000	423,000	130,000	1,788,000	209,000	247,000	31,000	31,000	2,000	161,754	48,246	13,789	55	19,775	243,637	243,637	0	0	0	122,253	7,811	22,288	0	87,328	8,965	34,681	63,060	63,060	73,966	14,628	1,971	1,971	26,041	24,682	33,195	33,195	11,214	12,077	8	8	5	2,619	115	115	3	1,792	10	10	5	3,292	17	17	7	1,008	0	505	525	510	0	0	0	0	0	1,874	1,287	10,997	0
End Period Cash Flow	101,782,849	38,936,000	38,936,000	30,609,000	21,470,000	21,470,000	34,911,000	43,084,000	26,632,000	27,529,000	27,529,000	12,980,000	6,684,000	100,926,000	100,926,000	60,389,000	67,666,000	62,484,000	62,484,000	62,366,000	54,729,000	71,734,000	38,650,000	34,580,000	30,013,000	26,389,000	25,363,000	22,667,000	24,038,000	14,096,000	14,096,000	19,689,000	13,834,000	1,033,415	633,693	490,792	1,019,837	1,002,988	1,002,988	498,661	512,066	634,759	1,047,586	640,502	524,159	421,357	549,831	566,984	561,935	705,544	705,544	450,354	335,385	175,653	175,653	120,801	129,556	211,676	211,676	166,909	241,148	520,474	520,474	713,998	1,766	84,220	84,220	86,933	21,318	27,407	27,407	10,838	1,292	67,433	67,433	18,260	27,295	12,205	6,308	0	0	0	0	0	0	0	0	0	0	0
Exchange Rate Changes	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-68,919,204	21,413,000	21,413,000	3,606,000	-11,331,000	-11,331,000	2,450,000	6,874,000	164,000	13,141,000	13,141,000	-8,882,000	-1,471,000	6,805,000	6,805,000	3,731,000	8,099,000	7,080,000	7,080,000	66,000	1,878,000	325,000	4,277,000	1,488,000	2,659,000	1,140,000	2,061,000	32,000	1,382,000	911,000	911,000	1,636,000	-122,018	247,244	-73,655	-26,418	92,328	365,130	365,130	-35,096	27,780	341,672	128,732	63,091	-71,452	251,693	209,766	195,495	67,891	197,286	197,286	19,253	160,902	-4,551	-4,551	-73,002	27,390	251,119	251,119	-61,928	-177,484	-61,514	-61,514	-22,030	-15,695	-33,855	-33,855	-30,029	-7,518	-8,064	-8,064	-18,245	2,085	-2,431	-2,431	-9,717	-1,209	3,260	0	0	0	0	-6,577	4,211	0	0	5,116	6,446	7,320	0
Investments	51,228,000	3,059,000	-5,102,000	10,930,000	3,889,000	3,342,000	-11,751,000	-508,000	1,799,000	739,000	11,330,000	1,247,000	2,972,000	40,540,000	24,206,000	2,180,000	11,198,000	2,386,000	641,000	6,933,000	2,768,000	2,872,000	28,530,000	3,004,000	-5,369,000	-30,000	6,247,000	-3,344,000	-3,344,000	0	13,915,000	0	0	0	-1,312,000	0	0	0	-1,169,000	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
Issuance Of Capital Stock	0	0	0	0	0	249,000	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-14,782,000	9,552,000	9,552,000	7,112,000	-16,692,000	-2,175,000	-5,829,000	-3,886,000	-5,021,000	-10,216,000	454,000	-11,347,000	-13,961,000	2,497,000	-9,477,000	-17,004,000	-16,932,000	-2,069,000	-3,397,000	-3,522,000	13,769,000	-8,958,000	2,470,000	3,542,000	5,476,000	8,676,000	245,000	245,000	0	1,571,000	0	0	0	-616,000	0	0	0	317,000	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
Net Income	-25,297,821	41,848,000	23,383,000	17,094,000	14,004,000	14,004,000	-1,674,000	26,644,000	35,192,000	-15,116,000	-15,116,000	-4,985,000	-10,066,000	26,519,000	26,519,000	-9,635,000	-6,813,000	-18,874,000	-18,874,000	-3,766,000	-13,822,000	7,485,000	-5,116,000	695,000	9,707,000	15,000	1,551,000	-3,584,000	4,916,000	-554,000	-554,000	-207,000	-936,240	-361,760	629,123	-289,286	-185,291	-565,295	-565,295	-172,744	-265,754	-89,015	-108,931	86,476	168,717	8,001	11,147	23,828	74,426	70,803	70,803	34,791	55,121	749	749	42,812	80,018	119,945	119,945	-7,625	49,709	-4,700	-4,700	13,142	27,020	11,588	11,588	19,634	15,091	9,541	9,541	-497	12,912	14,279	14,279	52,879	8,568	1,039	7,223	1,966	2,283	0	6,531	6,258	5,197	3,871	0	3,834	1,801	1,128
Other Cashflows From Financing Activities	164,746,916	28,362,000	-12,844,000	33,768,000	9,402,000	9,402,000	43,873,000	4,321,000	5,432,000	36,604,000	36,604,000	20,305,000	-1,112,000	9,039,000	9,039,000	6,130,000	-4,164,000	-3,058,000	-3,058,000	-1,464,000	5,495,000	15,622,000	-216,000	5,804,000	7,779,000	15,419,000	47,753,000	55,813,000	4,777,000	3,940,000	3,940,000	4,902,000	1,516,679	994,321	93,015	284,070	472,347	352,432	352,432	-59,578	753,994	70,068	202,756	429,090	329,362	109,651	-12,028	649,087	4,259	22,621	22,621	180,207	796,591	114,646	114,646	290,401	202,194	-96,187	-96,187	89,541	-49,723	12,960	12,960	-49,250	52,669	8,476	8,476	20,633	-8,605	46,488	46,488	16,411	-18,722	-17,298	-17,298	-13,912	-3,944	25,714	0	0	0	0	0	0	0	0	32	365	56	0
Other Cashflows From Investing Activities	0	2,728,000	667,000	666,000	108,000	149,000	600,000	287,000	2,616,000	130,000	4,365,000	4,307,000	4,363,000	31,953,000	3,972,000	-2,230,000	5,085,000	2,741,000	2,609,000	12,183,000	2,866,000	81,000	-32,052,000	-51,000	2,519,000	-3,614,000	224,767	215,501	12,067	0	-14,235,000	0	0	0	-109,000	10,736	954	412	180,000	0	0	83	0	3,366	8,145	906	328	1,765	0	0	2,938	4,871	0	0	0	0	15	634	0	0	1,080	943	0	0	0	733	0	0	0	0	0	1,828	0	0	32,308	386	0	0	0	0	0	0	0	0	0	0	0	0	169	0
Other Non Cash Items	162,345,706	-1,902,000	-1,902,000	8,286,000	24,766,000	24,766,000	-14,454,000	-11,432,000	-39,292,000	-280,000	-280,000	-12,926,000	-4,681,000	-29,210,000	-29,210,000	11,221,000	9,949,000	21,513,000	21,513,000	3,852,000	19,666,000	-7,751,000	8,227,000	435,000	-6,473,000	869,000	-2,803,000	3,316,000	-3,800,000	909,000	909,000	1,088,000	1,156,080	503,920	-805,702	865,686	-26,206	923,302	923,302	341,080	273,725	202,494	588,377	-213,743	-446,838	79,016	144,754	184,772	130,971	209,211	209,211	98,600	45,382	100,836	100,836	14,013	-98,826	-82,296	-82,296	120,213	34,327	-27,149	-27,149	-10,704	-25,108	-17,516	-17,516	-10,457	-17,160	-26,940	-26,940	1,863	-6,054	-16,710	-16,710	-62,596	1,475	-5,709	0	0	0	0	0	0	0	0	0	0	0	0
Sale Purchase Of Stock	-3,556,718	-1,446,000	-1,446,000	-3,429,000	-449,000	-449,000	-119,000	-31,000	0	0	0	0	0	0	0	0	0	-355,000	-355,000	-221,000	-283,000	0	-582,000	0	0	276,000	2,112,000	2,112,000	2,112,000	0	6,000	0	0	0	-653	0	0	-59,784	-59,784	-3,371	-31,093	-3,478	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-11,092	-11,092	-13,497	-43,008	-5,604	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
Stock Based Compensation	-71,837,243	7,245,000	0	0	0	0	0	0	0	0	0	13,314,000	17,263,000	78,000	78,000	75,000	19,000	12,000	12,000	13,000	12,000	7,000	-9,000	6,000	17,000	19,000	16,000	33,000	26,000	41,000	41,000	-9,000	12,577	9,423	2,169	23,828	-10,638	51,069	51,069	920	8,127	8,498	829	4,898	2,059	2,763	0	0	0	11,112	0	0	30,789	28,165	0	0	103,301	47,950	47,950	-63,890	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
Total Cash From Financing Activities	-118,246,775	-36,881,000	-36,881,000	-20,815,000	-9,865,000	-9,865,000	26,838,000	-44,425,000	-10,002,000	-14,507,000	-14,507,000	5,999,000	-15,417,000	-5,479,000	-5,479,000	-19,059,000	-21,786,000	-9,224,000	-9,224,000	-11,378,000	-9,238,000	11,834,000	-9,318,000	-889,000	3,863,000	4,045,000	970,000	-1,315,000	1,936,000	-4,643,000	-4,643,000	-814,000	838,905	123,095	-167,358	-345,044	-247,465	1,921	1,921	-507,075	362,004	-303,099	-80,799	140,841	170,790	-247,992	-133,595	21,301	-296,438	-135,142	-135,142	-27,864	592,408	24,597	24,597	140,944	124,151	-75,299	-75,299	26,153	-92,731	16,121	16,121	831,619	59,847	7,586	7,586	95,315	-444	91,295	91,295	24,927	-18,717	-17,065	-17,065	-7,698	735	25,720	5,613	4,810	3,778	175	55,678	57,747	0	0	0	12,109	0	0
Total Cash From Operating Activities	-44,231,039	29,492,000	29,492,000	6,853,000	-8,471,000	-8,471,000	1,442,000	9,995,000	1,236,000	13,967,000	13,967,000	-8,333,000	-1,085,000	9,876,000	9,876,000	6,393,000	10,761,000	10,164,000	10,164,000	2,450,000	3,861,000	1,399,000	4,802,000	2,937,000	3,586,000	2,450,000	3,190,000	1,424,000	2,215,000	1,254,000	1,254,000	2,527,000	-71,217	345,217	-18,832	19,363	167,193	446,482	446,482	-268	65,138	371,811	192,654	76,108	-11,140	390,897	268,962	232,539	158,452	261,317	261,317	61,039	199,368	101,092	101,092	-23,457	52,128	322,687	322,687	22,898	-40,995	-56,322	-56,322	-8,030	-13,692	-24,730	-24,730	-24,322	-1,668	-1,810	-1,810	-18,245	2,085	-2,431	-2,431	-9,717	-1,209	3,260	0	0	0	0	3,842	4,837	0	0	5,332	7,882	9,995	0
Total Cashflows From Investing Activities	0	3,059,000	-1,515,000	-1,515,000	3,889,000	1,612,000	2,022,000	3,470,000	7,597,000	-195,000	14,117,000	8,968,000	10,032,000	40,540,000	24,206,000	2,521,000	11,198,000	2,386,000	641,000	6,742,000	-191,000	805,000	-2,974,000	881,000	-4,312,000	-5,567,000	-2,415,000	51,539	148,994	-1,123,000	579,338	649,910	0	0	95,641	82,100	135,017	136,503	-886,000	0	0	0	-93,000	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	21,670	30,072	0	0	0	0	0	0	0	0	0	0	9,075	0	0	0

Income Statement

Currency in ARS. All numbers in thousands.

	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30
Cost Of Revenue	119,134,000	53,387,000	19,955,000	26,042,000	51,607,000	23,435,000	54,713,000	24,222,000	3,480,034	2,779,386	2,222,022	2,225,878	1,486,294	994,134	851,192	256,444	171,073	92,423	59,633	39,109	51,319	40,228	27,162	27,795	41,811	35,463
Depreciation And Amortization	2,688,000	4,787,000	4,227,000	687,000	7,605,000	3,764,000	4,857,000	2,769,000	257,822	296,919	279,738	181,967	128,564	136,864	97,813	6,466	4,357	5,118	4,167	3,603	3,573	3,629	1,688	1,690	1,542	1,173
Discontinued Operations	0	0	-8,257,000	18,085,000	7,140,000	36,441,000	1,705,000	817,000	817,000	133,000	133,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	25,278,000	23,864,000	9,924,000	17,469,000	8,319,000	4,996,000	4,751,000	2,905,000	14,144	557,248	674,978	804,010	875,494	895,686	466,474	57,466	21,577	1,732	18,238	17,193	-36,405	15,708	-5,782	-6,087	-19,315	-4,903
Ebitda	27,966,000	28,651,000	14,151,000	18,156,000	15,924,000	8,760,000	9,608,000	5,674,000	271,966	854,167	954,716	985,977	1,004,058	1,032,550	564,287	63,932	25,935	6,850	22,406	20,796	-32,831	19,337	-4,094	-4,397	-17,773	-3,730
Effect Of Accounting Charges	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
Extraordinary Items	0	0	0	0	480,000	20,377,000	8,835,000	817,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	71,271,000	42,463,000	22,456,000	16,611,000	31,058,000	15,551,000	23,205,000	11,162,000	2,171,771	1,824,625	1,306,529	1,231,937	1,054,014	888,221	575,983	65,579	37,189	20,042	18,506	23,374	21,021	32,442	7,634	7,335	1,795	16,367
Income Before Tax	5,458,000	64,977,000	11,695,000	33,628,000	-27,147,000	5,534,000	4,872,000	-2,088,000	479,561	-1,797,823	187,782	186,048	507,015	516,202	311,508	23,471	56,693	38,461	114,448	40,365	76,034	-32,820	5,887	1,377	1,059	16,350
Income Tax Expense	-72,721,000	1,977,000	27,940,000	8,548,000	1,830,000	233,000	2,862,000	-197,000	303,350	-389,415	33,519	13,419	125,443	145,952	92,682	284	8,184	5,438	37,771	8,294	10,656	7,780	2,053	22	18	-13,145
Interest Expense	22,463,000	14,067,000	13,738,000	10,421,000	16,807,000	8,185,000	6,736,000	2,739,000	873,753	715,537	473,465	396,221	290,854	23,281	138,518	0	0	0	0	0	0	0	0	0	0	0
Interest Income	2,199,000	2,715,000	3,741,000	2,841,000	1,573,000	814,000	899,000	5,501,000	1,755,164	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-34,309,000	-25,912,000	11,933,000	96,994,000	103,159,000	86,213,000	32,768,000	23,539,000	6,757,000	2,488,932	33,752	20,921	41,188	47,043	24,863	89	90	33	0	0	0	0	0	0	0	0
Net Income	43,870,000	79,954,000	-15,243,000	16,509,000	-44,582,000	-30,335,000	-2,329,000	3,986,000	1,318,000	-1,068,000	-26,907	78,263	212,565	185,406	124,616	22,921	48,238	32,920	76,766	32,212	65,378	-40,600	3,834	1,354	1,041	18,868
Net Income Applicable To Common Shares	42,224,000	37,088,000	-12,569,000	3,929,000	-26,796,000	6,106,000	-624,000	4,803,000	114,009	-1,068,000	0	17,351	51,802	47,186	32,887	7,602	15,986	10,635	26,528	10,809	21,857	0	3,834	1,354	0	0
Net Income From Continuing Ops	78,179,000	63,000,000	-16,245,000	1,918,000	-28,977,000	5,301,000	2,010,000	-1,891,000	2,824,000	-1,409,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-24,022,000	-12,584,000	-11,457,000	-22,606,000	-15,427,000	-7,802,000	-6,813,000	-2,915,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	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
Non Recurring	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
Operating Income	-20,390,000	23,864,000	9,924,000	17,469,000	8,319,000	4,996,000	9,925,000	3,694,000	2,792,694	1,185,226	1,106,361	654,489	727,128	586,970	215,403	43,561	37,143	11,119	36,242	17,050	27,798	13,091	819	-2,990	-8,868	5,723
Other Items	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
Other Operating Expenses	164,770,000	73,115,000	29,558,000	33,962,000	70,691,000	33,758,000	73,253,000	32,769,000	4,574,015	3,664,780	2,838,634	2,803,326	1,813,180	1,295,385	1,211,772	278,462	171,119	101,346	41,897	45,433	44,543	59,579	33,977	38,120	52,474	46,107
Preferred Stock And Other Adjustments	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
Reconciled Depreciation	2,688,000	4,787,000	3,452,000	16,425,000	7,605,000	3,764,000	4,857,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	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
Selling And Marketing Expenses	6,176,000	4,126,000	4,152,000	4,096,000	9,840,000	5,312,000	13,946,000	6,279,000	474,202	352,738	277,965	242,983	176,207	219,454	212,482	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	25,522,000	11,846,000	4,122,000	3,870,000	6,788,000	4,089,000	3,708,000	1,779,000	528,140	479,391	300,116	360,504	256,016	239,678	134,664	42,721	31,354	25,523	13,861	10,236	10,411	16,583	8,746	8,635	9,121	9,471
Tax Provision	-72,721,000	1,977,000	27,940,000	8,107,000	1,830,000	233,000	2,862,000	5,785,000	303,350	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	45,636,000	19,728,000	9,603,000	7,920,000	19,084,000	10,323,000	18,540,000	8,547,000	1,093,981	885,394	616,612	577,448	326,886	301,251	360,580	22,018	46	8,923	-17,736	6,323	-6,776	19,351	6,815	10,325	10,663	10,644
Total Other Income Expense Net	3,845,000	41,113,000	1,771,000	16,159,000	-35,466,000	538,000	7,029,000	-1,781,000	314,198	-2,051,309	-31,415	-116,680	51,735	-181,611	-16,448	24,467	54,849	31,553	46,079	27,020	64,202	-41,251	6,600	3,097	10,447	10,627
Total Revenue	190,405,000	95,850,000	42,411,000	42,653,000	82,665,000	38,986,000	77,918,000	35,384,000	5,651,805	4,604,011	3,528,551	3,457,815	2,540,308	1,882,355	1,427,175	322,023	208,262	112,465	78,139	62,483	72,341	72,669	34,795	35,130	43,606	51,830

	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	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31
Cost Of Revenue	96,899,640	52,442,000	52,442,000	15,885,000	17,955,000	106,537,000	-4,247,000	7,128,000	8,642,000	9,909,000	9,909,000	8,355,000	6,027,000	24,530,000	24,530,000	17,838,000	16,980,000	17,491,000	17,491,000	11,883,000	12,785,000	7,787,000	30,035,000	15,918,000	16,623,000	14,785,000	13,609,000	13,501,000	13,368,000	9,405,000	9,405,000	12,990,000	830,000	1,006,899	1,026,125	642,650	819,095	1,061,985	1,061,985	370,946	578,827	767,628	836,668	423,466	529,804	633,968	885,155	300,927	447,869	668,270	668,270	278,235	295,125	411,773	411,773	182,510	208,631	403,113	403,113	172,517	196,778	120,397	120,397	350,246	32,437	84,819	84,819	27,694	29,474	42,467	42,467	7,292	21,321	21,937	21,937	9,228	7,336	21,744	4,523	1,411	8,587	3,096	370	3,521	3,687	4,275	9,383	-	-	-	26,152	-	-	-	8,144	5,786	-	-	-	-	-	-	-	-
Depreciation And Amortization	3,572,065	1,089,000	0	675,000	614,000	-32,864,000	-32,864,000	1,118,000	253,000	2,911,000	2,911,000	231,000	145,000	4,709,000	4,709,000	4,746,000	3,974,000	2,226,000	2,226,000	2,323,000	1,902,000	1,154,000	-340,000	1,372,000	1,452,000	1,280,000	408,000	1,483,000	1,524,000	1,545,000	1,545,000	1,086,000	67,494	70,506	62,331	69,046	63,180	78,470	78,470	74,838	75,376	68,235	68,705	72,658	70,854	67,521	48,755	47,405	43,682	19,207	19,207	35,112	35,020	39,633	39,633	31,885	30,948	24,413	24,413	34,001	27,531	2,353	2,353	1,877	1,054	1,087	1,087	1,118	852	1,602	1,602	1,254	1,442	75,063	75,063	-79,562	975	804	0	0	-2,525	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	-155,000	-61,000	9,815,000	-6,396,000	905,000	-757,000	13,259,000	4,678,000	75,000	-297,000	-3,748,000	4,262,000	12,292,000	-20,000	130,000	5,000	7,491,000	-5,334,000	2,101,000	-165,000	1,175,000	-358,000	0	0	817,000	0	0	0	133,000	0	0	0	133,000	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	-	-	-	-	-	-	-	-
Ebit	56,252,640	2,350,000	4,881,000	13,497,000	8,800,000	22,500,000	22,500,000	31,793,000	11,728,000	736,000	736,000	14,037,000	2,212,000	9,111,000	9,111,000	4,152,000	5,611,000	257,000	257,000	2,054,000	-6,213,000	2,545,000	-649,000	3,603,000	3,371,000	155,000	2,109,000	1,333,000	2,467,000	1,286,000	1,286,000	2,149,000	1,079,000	-225,868	32,657	103,906	-210,112	-424,204	-424,204	947,373	344,378	187,675	165,315	371,947	393,733	281,851	-40,775	206,035	237,849	352,110	352,110	34,616	227,049	456,109	456,109	50,192	296,336	177,949	177,949	8,630	72,043	28,181	28,181	32,192	-4,276	9,387	9,387	564	-14,073	7,759	7,759	5,467	-9,526	15,478	15,478	13,786	-2,316	-6,689	0	0	2,536	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Ebitda	59,824,705	3,439,000	0	14,172,000	9,414,000	-10,364,000	-10,364,000	32,911,000	11,981,000	3,647,000	3,647,000	14,268,000	2,357,000	13,820,000	13,820,000	8,898,000	9,585,000	2,483,000	2,483,000	4,377,000	-4,311,000	3,699,000	-989,000	4,975,000	4,823,000	1,435,000	2,517,000	2,816,000	3,991,000	2,831,000	2,831,000	3,235,000	1,146,494	-155,362	94,988	172,952	-146,932	-345,734	-345,734	1,022,211	419,754	255,910	234,020	444,605	464,587	349,372	7,980	253,440	281,531	371,317	371,317	69,728	262,069	495,742	495,742	82,077	327,284	202,362	202,362	42,631	99,574	30,533	30,533	34,068	-3,222	10,474	10,474	1,682	-13,222	9,361	9,361	6,721	-8,084	90,541	90,541	-65,776	-1,341	-25,188	-25,188	18,101	11	-30,353	-30,353	19,384	21,852	-40,015	-40,015	17,702	17,700	17,700	-23,480	14,038	10,248	8,465	-29,337	8,782	8,782	8,782	-41,572	10,902	10,902	10,901	-33,153	12,959
Effect Of Accounting Charges	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-239,000	16,878,000	171,000	-478,000	787,000	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	-	-	-	-	-	-	-	-
Gross Profit	89,893,890	27,479,000	27,479,000	12,449,000	14,502,000	-16,505,000	-16,505,000	24,246,000	8,348,000	6,456,000	6,456,000	-5,090,000	3,370,000	9,264,000	9,264,000	10,164,000	10,372,000	9,473,000	9,473,000	7,464,000	4,613,000	5,368,000	-6,753,000	7,786,000	7,627,000	6,891,000	6,586,000	5,526,000	5,578,000	4,990,000	4,990,000	4,608,000	937,000	617,462	554,499	487,437	598,019	380,550	380,550	656,668	428,913	358,494	342,026	315,200	328,155	321,148	349,889	276,388	273,569	332,587	332,587	215,493	246,502	266,691	266,691	195,109	274,754	210,020	210,020	175,934	179,591	28,154	28,154	102,890	14,189	13,728	13,728	17,529	5,588	1,237	1,237	6,765	6,017	6,061	6,061	6,076	8,597	20,244	20,244	18,101	3,795	14,190	14,190	19,384	21,852	19,564	19,564	17,702	17,700	17,700	10,497	14,038	10,248	8,465	8,782	8,782	8,782	8,782	10,902	10,902	10,902	10,901	12,954	12,959
Income Before Tax	-76,334,436	6,535,000	6,535,000	7,872,000	-14,926,000	10,853,000	10,853,000	-46,274,000	42,085,000	9,900,000	9,900,000	-7,178,000	-16,434,000	31,324,000	31,324,000	-8,497,000	-4,984,000	-15,443,000	-15,443,000	-2,633,000	-12,580,000	8,341,000	-4,779,000	1,048,000	8,025,000	1,240,000	4,669,000	375,000	-461,000	-717,000	-717,000	-90,000	-1,016,000	-272,753	700,169	-326,618	-46,737	-912,337	-912,337	-360,613	-390,476	-134,397	-100,018	81,752	184,346	21,702	-33,433	88,779	183,236	132,587	132,587	90,532	160,761	50,519	50,519	111,562	215,492	300,358	300,358	-5,586	54,644	3,065	3,065	44,545	35,997	19,760	19,760	22,045	14,994	-2,959	-2,959	5,898	17,752	18,471	18,471	81,560	-17,381	2,690	7,623	3,274	3,961	0	8,529	6,460	5,481	4,874	0	-	-	-	5,706	-	-	-	1,785	1,128	-	-	-	-	-	-	-	-
Income Tax Expense	-47,126,901	-35,313,000	-35,313,000	-5,043,000	-28,025,000	12,527,000	12,527,000	-20,768,000	7,183,000	25,016,000	25,016,000	-1,695,000	-4,792,000	4,805,000	4,805,000	-29,000	867,000	3,431,000	3,431,000	509,000	-3,258,000	856,000	337,000	353,000	-1,682,000	1,225,000	3,118,000	239,000	-523,000	-163,000	-163,000	-45,000	-81,000	89,007	71,046	-37,332	138,554	-31,442	-31,442	-187,869	-124,722	-45,382	8,913	-4,724	15,629	13,701	-37,747	18,941	8,641	36,294	36,294	31,149	34,054	40,681	40,681	34,770	55,125	60,216	60,216	9,118	23,894	7,843	7,843	29,540	8,973	7,837	7,837	2,484	-202	-12,740	-12,740	6,467	5,852	4,171	4,171	28,548	3,464	-14,327	-14,327	-13,223	1,569	-12,824	-12,824	-17,518	-19,749	10,930	10,930	9,890	9,889	9,889	-1,782	966	-3,015	-1,507	-339	-339	-339	-339	-260	-260	-260	-260	-4,716	-4,718
Interest Expense	15,969,123	1,222,000	1,222,000	8,066,000	7,417,000	5,131,000	5,131,000	6,087,000	3,029,000	5,464,000	5,464,000	2,298,000	2,846,000	6,151,000	6,151,000	6,135,000	4,846,000	4,301,000	4,301,000	5,812,000	6,988,000	3,509,000	2,117,000	3,838,000	3,560,000	2,075,000	1,694,000	1,085,000	3,011,000	1,186,000	1,186,000	2,358,000	2,733,000	253,894	234,073	431,882	315,709	190,817	190,817	1,414,174	742,004	142,091	136,066	297,992	287,585	259,901	95,996	135,266	72,795	83,169	83,169	202,745	7,616	165,810	165,810	48,901	18,625	99,838	99,838	63,716	12,225	1,703	2,251	2,432	1,975	1,099	880	0	0	0	44	862	835	953	1,519	865	865	935	411	977	1,071	1,108	849	1,573	350	2	613	-	-	-	556	-	-	-	49	0	-	-	-	-	-	-	-	-
Interest Income	4,774,000	6,987,000	572,000	290,000	646,000	625,000	731,000	593,000	226,000	579,000	581,000	25,000	28,000	1,564,000	912,000	299,000	262,000	201,000	512,000	5,127,000	4,054,000	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	-	-	-	-	-	-	-	-
Minority Interest	-14,865,000	0	-18,465,000	-5,300,000	-6,596,000	-1,762,000	-1,264,000	15,244,000	-15,943,000	-798,000	6,699,000	67,379,000	61,584,000	61,207,000	96,994,000	74,908,000	68,689,000	68,383,000	72,180,000	77,365,000	68,795,000	76,475,000	54,396,000	42,580,000	8,482,000	32,441,000	213,939	-38,693,000	19,043,000	0	271,158	12,693	0	0	42,631	0	-17,025	17,025	2,488,932	0	-1,535	1,535	22,481	11,271	18,415	5,232	13,969	6,952	12,265	3,905	5,667	5,575	18,016	11,930	1,592	8,277	21,138	16,036	31,867	0	-16	16	-20	109	-20	20	111	-34	34	0	76	0	0	0	7	0	0	0	9	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Net Income	-25,297,821	23,383,000	23,383,000	7,615,000	13,099,000	39,928,000	-1,674,000	-10,262,000	45,911,000	-11,384,000	-15,116,000	-2,159,000	-8,729,000	24,442,000	14,114,000	5,349,000	-12,291,000	-20,180,000	-11,954,000	-2,973,000	-11,768,000	985,000	-9,822,000	-1,439,000	-3,005,000	8,505,000	-1,768,000	1,262,000	530,000	5,606,000	-102,000	-164,000	-480,000	-291,000	664,000	288,000	-654,000	-573,642	-573,642	-162,208	-234,181	-97,849	-111,398	23,731	77,278	-16,518	11,147	23,828	74,426	70,803	70,803	34,791	55,121	749	749	42,812	80,018	119,945	119,945	-7,625	49,709	-4,700	-4,700	72,994	27,087	11,588	11,588	19,642	15,091	9,541	9,541	-509	11,938	14,279	14,279	53,063	8,571	14,327	14,327	13,223	2,392	12,824	12,824	17,518	19,749	-10,930	-10,930	-9,890	-9,889	-9,889	1,782	-966	3,015	1,507	339	339	339	339	260	260	260	260	4,716	4,718
Net Income Applicable To Common Shares	0	40,780,000	23,383,000	21,737,000	8,801,000	3,471,000	17,496,000	-5,023,000	18,959,000	2,040,000	-8,572,000	-606,000	-6,222,000	2,893,000	14,114,000	-5,069,000	-2,506,000	-2,610,000	-11,954,000	-2,483,000	-4,312,000	-354,000	596,000	183,000	4,171,000	221,000	4,204,000	-4,097,000	1,404,000	0	401,090	0	0	0	28,060	0	0	0	-1,068,000	0	0	0	-4,119	4,119	15,916	0	2,016	5,680	9,408	247	16,716	8,151	13,869	13,066	36,626	10,560	21,051	16,141	31,628	-15,605	15,605	0	3,432	4,170	8,605	0	4,139	6,295	4,932	620	3,187	-4,106	4,106	3,758	5,266	18,058	2,862	342	7,223	1,966	2,283	0	6,531	6,258	5,197	3,871	0	-	-	-	3,834	-	-	-	1,801	1,128	-	-	-	-	-	-	-	-
Net Income From Continuing Ops	1,154,000	78,969,000	41,848,000	12,915,000	13,099,000	5,233,000	-1,674,000	-25,506,000	34,902,000	2,838,000	-15,116,000	-5,483,000	-11,642,000	13,922,000	26,519,000	-8,468,000	-5,851,000	-8,153,000	-18,874,000	-3,142,000	-9,946,000	2,985,000	-5,116,000	695,000	9,692,000	15,000	923,000	-50,000	62,000	0	7,720,000	0	0	0	2,824,000	0	0	0	-1,409,000	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	-	-	-	-	-	-	-	-
Net Interest Income	-123,001,000	1,641,000	-2,178,000	3,662,000	-2,887,000	-3,502,000	5,756,000	12,072,000	5,729,000	2,494,000	-5,326,000	4,155,000	465,000	-1,315,000	-5,498,000	-13,175,000	1,161,000	-6,227,000	-3,824,000	-6,019,000	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	-	-	-	-	-	-	-	-
Non Operating Income Net Other	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Non Recurring	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Operating Income	56,252,643	-2,310,000	3,523,000	13,497,000	8,800,000	22,500,000	22,500,000	31,793,000	11,728,000	736,000	736,000	-7,885,000	-17,797,000	32,790,000	32,790,000	1,634,000	-4,925,000	-14,246,000	-14,246,000	3,992,000	-11,445,000	18,280,000	10,644,000	3,497,000	10,296,000	5,527,000	6,973,000	769,000	893,000	129,000	129,000	1,496,000	1,388,000	670,782	1,055,576	260,958	879,867	254,488	254,488	545,480	223,609	161,649	353,127	196,310	380,434	176,490	152,690	133,787	165,372	214,526	214,526	153,157	175,796	170,361	170,361	136,134	190,200	106,486	106,486	76,667	40,285	9,790	9,790	86,012	28,110	24,438	24,438	13,086	2,405	-7,556	-7,556	4,004	7,332	15,478	15,478	13,786	6,020	-25,188	-25,188	18,101	2,536	-30,353	-30,353	19,384	21,852	-40,015	-40,015	17,702	17,700	17,700	-23,480	14,038	10,248	8,465	-29,337	8,782	8,782	8,782	-41,572	10,902	10,902	10,901	-33,153	12,959
Other Items	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Other Operating Expenses	130,540,889	76,398,000	5,357,000	26,139,000	28,024,000	8,294,000	8,294,000	16,514,000	14,310,000	13,429,000	13,429,000	5,828,000	9,860,000	32,658,000	32,658,000	19,736,000	26,050,000	23,359,000	23,359,000	16,679,000	15,115,000	11,130,000	30,593,000	21,490,000	22,168,000	19,719,000	18,160,000	18,385,000	18,136,000	14,206,000	14,206,000	16,135,000	1,017,000	1,344,726	1,362,949	870,487	1,016,331	1,370,203	1,370,203	588,322	791,281	962,936	1,006,342	550,153	555,723	778,378	1,071,385	461,538	574,248	683,285	683,285	443,617	365,831	390,365	390,365	297,817	354,591	504,832	504,832	251,336	336,083	138,761	138,761	367,124	18,516	74,109	74,109	32,136	32,658	51,260	51,260	10,053	20,006	12,520	12,520	1,518	9,913	45,433	45,433	0	9,846	44,543	44,543	0	0	59,579	59,579	-	-	-	33,977	-	-	-	38,120	0	-	-	52,474	-	-	-	46,107	-
Preferred Stock And Other Adjustments	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Reconciled Depreciation	1,936,000	931,000	1,089,000	675,000	614,000	310,000	3,210,000	1,118,000	253,000	206,000	2,911,000	231,000	145,000	165,000	4,709,000	4,746,000	3,974,000	2,996,000	2,226,000	2,323,000	1,902,000	1,154,000	-340,000	1,372,000	1,452,000	1,280,000	408,000	1,483,000	1,524,000	1,442,000	1,545,000	1,086,000	67,494	70,506	62,331	69,046	63,180	63,265	78,470	74,838	75,376	68,235	68,705	72,658	70,854	67,521	48,755	47,405	43,682	42,125	19,207	35,112	35,020	35,379	39,633	31,885	30,948	34,398	24,413	34,001	27,531	1,650	2,353	1,877	1,054	1,183	1,087	1,118	852	1,301	1,602	1,254	1,442	819	0	0	975	804	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Research Development	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Selling And Marketing Expenses	7,556,000	2,695,000	0	2,796,000	2,276,000	4,988,000	4,988,000	2,450,000	1,525,000	1,528,000	1,528,000	6,000	964,000	4,656,000	4,656,000	4,076,000	3,770,000	3,108,000	3,108,000	2,424,000	1,213,000	1,664,000	7,285,000	4,554,000	4,330,000	3,713,000	3,334,000	3,608,000	3,573,000	3,509,000	3,509,000	2,486,000	137,000	146,584	150,090	97,418	104,345	130,032	130,032	66,995	74,806	80,898	105,676	48,610	63,252	60,427	83,770	43,961	38,343	52,227	52,227	35,321	42,481	68,596	68,596	47,715	52,221	62,578	62,578	73,655	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	-	-	-	-	-	-	-	-
Selling General Administrative	12,671,000	14,764,000	17,459,000	4,119,000	4,165,000	3,014,000	3,014,000	3,000,000	3,939,000	1,438,000	1,438,000	823,000	682,000	2,666,000	2,666,000	3,038,000	2,644,000	2,081,000	2,081,000	2,152,000	927,000	1,341,000	463,000	1,391,000	1,808,000	937,000	1,022,000	1,115,000	1,101,000	889,000	889,000	601,000	205,000	166,088	153,210	153,670	135,701	170,662	170,662	115,515	124,872	99,327	65,215	78,661	104,593	78,241	102,460	78,044	86,339	68,125	68,125	58,331	69,354	67,877	67,877	67,592	56,997	47,970	47,970	23,578	35,940	14,200	19,602	3,543	2,483	7,130	12,555	1,744	2,714	4,808	13,198	788	2,014	4,481	5,108	1,083	859	3,143	769	791	1,157	718	1,499	915	546	520	4,252	-	-	-	8,746	-	-	-	2,862	1,461	-	-	-	-	-	-	-	-
Tax Provision	-25,542,000	41,247,000	-35,313,000	-5,043,000	-28,025,000	1,226,000	12,527,000	-20,768,000	7,183,000	-2,608,000	25,016,000	-1,695,000	-4,792,000	7,977,000	4,805,000	-29,000	867,000	1,988,000	3,431,000	509,000	-2,110,000	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	-	-	-	-	-	-	-	-
Total Operating Expenses	33,641,249	23,956,000	76,398,000	10,254,000	10,069,000	-4,047,000	-4,047,000	9,386,000	5,668,000	3,520,000	3,520,000	-545,000	3,833,000	8,128,000	8,128,000	1,898,000	9,070,000	5,868,000	5,868,000	4,796,000	2,330,000	3,343,000	-6,702,000	5,572,000	5,545,000	4,934,000	4,551,000	4,884,000	4,768,000	4,801,000	4,801,000	3,145,000	187,000	337,827	336,824	227,837	197,236	308,218	308,218	217,376	212,454	195,308	169,674	126,687	25,919	144,410	186,230	160,611	126,379	15,015	15,015	165,382	70,706	-21,408	-21,408	115,307	145,960	101,719	101,719	78,819	139,306	18,363	18,363	16,878	-13,921	-10,710	-10,710	4,443	3,184	8,793	8,793	2,761	-1,315	-9,418	-9,418	-7,710	2,577	-45,433	-45,433	0	1,258	-44,543	-44,543	0	0	-59,579	-59,579	-	-	-	-33,977	-	-	-	-38,120	0	-	-	-52,474	-	-	-	-46,107	-
Total Other Income Expense Net	-132,587,079	5,190,000	5,190,000	-5,625,000	-23,726,000	-11,647,000	-11,647,000	-78,067,000	30,357,000	9,164,000	9,164,000	-20,426,000	-16,436,000	35,719,000	35,719,000	-3,588,000	-7,447,000	-15,184,000	-15,184,000	718,000	-13,151,000	9,750,000	-2,852,000	1,582,000	8,205,000	3,549,000	4,589,000	-87,000	36,000	215,000	215,000	-1,586,000	732,000	-289,660	719,594	-167,708	-92,103	-821,311	-821,311	173,602	16,553	-142,791	-156,207	9,972	75,033	15,463	336,834	20,204	49,849	-105,943	-105,943	229,272	-8,757	-490,952	-490,952	113,216	105,323	141,917	141,917	-20,652	23,017	-154	-154	108,687	32,386	14,218	14,218	12,522	16,478	-4,610	-4,610	2,479	16,858	-46,987	-46,987	79,562	8,335	7,785	0	0	2,525	0	0	0	0	0	0	-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-
Total Revenue	186,793,530	79,921,000	79,921,000	28,334,000	32,457,000	90,032,000	-20,752,000	31,374,000	16,990,000	16,365,000	16,365,000	3,265,000	9,397,000	33,794,000	33,794,000	28,002,000	27,352,000	26,964,000	26,964,000	19,347,000	17,398,000	13,155,000	23,282,000	23,704,000	24,250,000	21,676,000	20,195,000	19,027,000	18,946,000	14,395,000	14,395,000	17,598,000	1,767,000	1,624,361	1,580,624	1,130,087	1,417,114	1,442,535	1,442,535	1,027,614	1,007,740	1,126,122	1,178,694	738,666	857,959	955,116	1,235,044	577,315	721,438	1,000,857	1,000,857	493,728	541,627	678,464	678,464	377,619	483,385	613,133	613,133	348,451	376,369	148,551	148,551	453,136	46,626	98,547	98,547	45,222	35,063	43,704	43,704	14,057	27,339	27,998	27,998	15,304	15,933	20,244	20,244	18,101	12,382	14,190	14,190	19,384	21,852	19,564	19,564	17,702	17,700	17,700	10,497	14,038	10,248	8,465	8,782	8,782	8,782	8,782	10,902	10,902	10,902	10,901	12,954	12,959

Latest Income Statement (annual, 2023-06-30)

Gross Profit (+$)
totalRevenue	190,405,000
Cost of Revenue	-119,134,000
Gross Profit	71,271,000	71,271,000

Operating Income (+$)
Gross Profit	71,271,000
Operating Expense	-45,636,000
Operating Income	-20,390,000	25,635,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	25,522,000
Selling And Marketing Expenses	6,176,000
Operating Expense	45,636,000	31,698,000

Net Interest Income (+$)
Interest Income	2,199,000
Interest Expense	-22,463,000
Other Finance Cost	-3,758,000
Net Interest Income	-24,022,000

Pretax Income (+$)
Operating Income	-20,390,000
Net Interest Income	-24,022,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	5,458,000	-24,235,000 EBIT - interestExpense = 2,815,000 -28,851,000 66,333,000
Interest Expense	22,463,000
Earnings Before Interest and Taxes (EBIT)	25,278,000	27,921,000
Earnings Before Interest and Taxes (EBITDA)	27,966,000

After tax Income (+$)
Income Before Tax	5,458,000
Tax Provision	--72,721,000
Net Income From Continuing Ops	78,179,000	78,179,000
Net Income	43,870,000
Net Income Applicable To Common Shares	42,224,000

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	164,770,000
Total Other Income/Expenses Net	3,845,000	24,022,000

Technical Analysis of Cresud
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Cresud. The general trend of Cresud is BULLISH with 57.1% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Cresud's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (57.1%)		Bearish trend (-57.1%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Cresud SACIF y A.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 10.04.

The bearish price targets are: 8.87 > 7.67 > 6.8678082556591.

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Cresud SACIF y A Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Cresud SACIF y A. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending down: The MA 50 is trending down. -1
Close > MA 50: The price is above the MA 50. +1
MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Cresud SACIF y A Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Cresud SACIF y A. The current macd is 0.29137686.

The long score for the Moving Average Convergence/Divergence (MACD) is 3/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 2/(-4 +4).

MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Cresud price going up in the near term. +2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Cresud. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Cresud price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Cresud SACIF y A Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Cresud SACIF y A. The current adx is 32.20.

The long score for the Directional Movement Index (DMI) is 3/7.
The longshort score for the Directional Movement Index (DMI) is 3/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Cresud shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bullish trend. The ADX is declining, the bullish trend is weakening. Could be a potential reversal to the downside. +2

Cresud SACIF y A Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Cresud SACIF y A. The current sar is 10.09.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Cresud SACIF y A Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Cresud SACIF y A. The current rsi is 50.63. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Cresud SACIF y A Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Cresud SACIF y A. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -4/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Cresud price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

Cresud SACIF y A Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Cresud SACIF y A. The current cci is 21.67.

Cresud SACIF y A Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Cresud SACIF y A. The current cmo is -9.54173331.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Cresud SACIF y A Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Cresud SACIF y A. The current willr is -70.05988024.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Cresud is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

Cresud SACIF y A Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Cresud SACIF y A.

Cresud SACIF y A Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Cresud SACIF y A. The current atr is 0.37932241.

Cresud SACIF y A Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Cresud SACIF y A. The current obv is 6,181,706.

Cresud SACIF y A Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Cresud SACIF y A. The current mfi is 65.44.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

MFI > 50: +1

Cresud SACIF y A Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Cresud SACIF y A.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-21	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-11-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-11-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-11-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-07	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-08	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-19	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-20	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-28	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2023-12-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-02	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-04	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-22	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-26	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-31	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-01	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-02	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-07	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-08	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-28	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-04	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-05	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-03-06	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-07	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-11	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-12	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-13	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-21	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-05	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-04-10	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-04-12	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-04-15	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).

6.3. Candlestick Patterns

Cresud SACIF y A Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Cresud SACIF y A based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	50.633
Ma 20	Greater than	Ma 50	8.999
Ma 50	Greater than	Ma 100	8.507
Ma 100	Greater than	Ma 200	8.827
Open	Greater than	Close	9.450
Total			4/5 (80.0%)

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Cresud SACIF y A Buy, Hold or Sell?

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Quick analysis of Cresud (30 sec.)

What can you expect buying and holding a share of Cresud? (30 sec.)

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1. Valuation of Cresud (5 min.)

$8.96

$23.30

$-45.95 - $-8.08

$-22.65 - $15.23

2. Growth of Cresud (5 min.)

Is Cresud growing?

How much money is Cresud making?

How much money comes from the company's main activities?

3. Financial Health of Cresud (5 min.)

4. Comparing to competitors in the Conglomerates industry (5 min.)

Industry Rankings (Conglomerates)

What can you expect buying and holding a share of Cresud? (5 min.)

What can you expect buying and holding a share of Cresud?

Speculation

Investing

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Linear %

Fundamentals of Cresud

About Cresud SACIF y A

Financial Health

Valuation

1.1. Profitability of Cresud SACIF y A.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Conglomerates)

1.1.2. Return on Assets

Trends

Compared to industry (Conglomerates)

1.1.3. Return on Equity

Trends

Compared to industry (Conglomerates)

1.2. Operating Efficiency of Cresud SACIF y A.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Conglomerates)

1.2.2. Operating Ratio

Trends

Compared to industry (Conglomerates)

1.3. Liquidity of Cresud SACIF y A.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Conglomerates)

1.3.2. Quick Ratio

Trends

Compared to industry (Conglomerates)

1.4. Solvency of Cresud SACIF y A.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Conglomerates)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Conglomerates)

2. Market Valuation of Cresud SACIF y A

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Conglomerates)

Cresud SACIF y A
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