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EDP - Energias de Portugal S.A.
Buy, Hold or Sell?

Let's analyze Edp together

I guess you are interested in EDP - Energias de Portugal S.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 EDP - Energias de Portugal S.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.

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1. Quick Overview

1.1. Quick analysis of Edp (30 sec.)










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

How much money do you get?

How much money do you get?
€0.00
When do you have the money?
1 year
How often do you get paid?
65.0%

What is your share worth?

Current worth
€3.98
Expected worth in 1 year
€3.96
How sure are you?
82.5%

+ What do you gain per year?

Total Gains per Share
€-0.02
Return On Investment
-0.5%

For what price can you sell your share?

Current Price per Share
€3.37
Expected price per share
€3.182 - €3.549
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Edp (5 min.)




Live pricePrice per Share (EOD)
€3.37
Intrinsic Value Per Share
€-5.72 - €-6.73
Total Value Per Share
€-1.74 - €-2.75

2.2. Growth of Edp (5 min.)




Is Edp growing?

Current yearPrevious yearGrowGrow %
How rich?$17.4b$15.6b$2b11.4%

How much money is Edp making?

Current yearPrevious yearGrowGrow %
Making money$337.6m$213.8m$123.8m36.7%
Net Profit Margin8.6%4.3%--

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

2.3. Financial Health of Edp (5 min.)




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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Edp?

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

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

Speculation

The Price per Share of Edp is €3.372. 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 Edp.
  • 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 Edp, 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 €3.98. Based on the TTM, the Book Value Change Per Share is €0.00 per quarter. Based on the YOY, the Book Value Change Per Share is €0.24 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 €0.00 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Edp.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps0.103.1%0.082.4%0.041.2%0.051.4%0.051.5%
Usd Book Value Change Per Share-0.13-3.9%0.00-0.1%0.257.4%0.051.5%0.030.9%
Usd Dividend Per Share0.000.0%0.000.0%0.000.0%0.092.8%0.123.4%
Usd Total Gains Per Share-0.13-3.9%0.00-0.1%0.257.4%0.144.3%0.154.4%
Usd Price Per Share3.70-4.12-4.91-4.57-3.97-
Price to Earnings Ratio8.93-182.05-31.42-58.84-35.85-
Price-to-Total Gains Ratio-28.40--160.77--23.83--11.53--63.08-
Price to Book Ratio0.88-0.97-1.32-1.29-1.16-
Price-to-Total Gains Ratio-28.40--160.77--23.83--11.53--63.08-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share3.5645412
Number of shares280
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.000.09
Usd Book Value Change Per Share0.000.05
Usd Total Gains Per Share0.000.14
Gains per Quarter (280 shares)-1.2640.41
Gains per Year (280 shares)-5.03161.62
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
10-5-1510557152
20-10-20210113314
30-15-25315170476
40-20-30420227638
50-25-35525284800
60-30-40629340962
70-35-457343971124
80-40-508394541286
90-45-559445101448
100-50-6010495671610

How sure are you?

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

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%11.01.00.091.7%19.01.00.095.0%37.02.01.092.5%75.02.02.094.9%
Book Value Change Per Share2.02.00.050.0%6.06.00.050.0%11.09.00.055.0%25.015.00.062.5%57.022.00.072.2%
Dividend per Share0.00.04.00.0%4.00.08.033.3%10.00.010.050.0%26.00.014.065.0%51.00.028.064.6%
Total Gains per Share2.02.00.050.0%7.05.00.058.3%14.06.00.070.0%33.07.00.082.5%71.08.00.089.9%
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3.2. Key Performance Indicators

The key performance indicators of EDP - Energias de Portugal S.A. compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---0.123-0.004-97%0.237-152%0.048-357%0.029-521%
Book Value Per Share--3.9764.020-1%3.562+12%3.398+17%3.243+23%
Current Ratio--0.8770.871+1%1.470-40%1.105-21%0.636+38%
Debt To Asset Ratio--0.7010.7030%0.749-6%0.718-2%0.707-1%
Debt To Equity Ratio--3.4253.4400%4.985-31%3.889-12%3.578-4%
Dividend Per Share----0%-0%0.089-100%0.110-100%
Eps--0.0980.077+28%0.038+155%0.045+115%0.049+100%
Free Cash Flow Per Share---0.225-0.124-45%-0.171-24%-0.080-65%-0.080-65%
Free Cash Flow To Equity Per Share---0.225-0.124-45%-0.137-39%-0.060-74%-0.060-74%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%0.975+3%
Intrinsic Value_10Y_max---6.730--------
Intrinsic Value_10Y_min---5.717--------
Intrinsic Value_1Y_max---0.406--------
Intrinsic Value_1Y_min---0.399--------
Intrinsic Value_3Y_max---1.424--------
Intrinsic Value_3Y_min---1.355--------
Intrinsic Value_5Y_max---2.689--------
Intrinsic Value_5Y_min---2.478--------
Market Cap14040704142.336-4%14569520698.11216241302534.296-10%19353238234.773-25%18009406270.383-19%15624070684.145-7%
Net Profit Margin--0.1200.086+40%0.043+176%0.053+128%0.055+118%
Operating Margin----0%0.053-100%0.099-100%0.058-100%
Operating Ratio--1.3771.475-7%1.597-14%1.565-12%1.212+14%
Pb Ratio0.848-4%0.8800.971-9%1.325-34%1.294-32%1.164-24%
Pe Ratio8.604-4%8.928182.048-95%31.422-72%58.837-85%35.845-75%
Price Per Share3.372-4%3.4993.900-10%4.647-25%4.325-19%3.752-7%
Price To Free Cash Flow Ratio-3.742+4%-3.883-1.369-65%-1.760-55%-9.000+132%-4.500+16%
Price To Total Gains Ratio-27.366+4%-28.396-160.767+466%-23.833-16%-11.530-59%-63.081+122%
Quick Ratio--0.1320.127+4%0.304-57%0.359-63%0.428-69%
Return On Assets--0.0070.006+30%0.003+116%0.004+90%0.005+63%
Return On Equity--0.0360.028+30%0.022+62%0.021+75%0.022+61%
Total Gains Per Share---0.123-0.004-97%0.237-152%0.137-190%0.139-189%
Usd Book Value--17499650954.50017696741171.175-1%15682485219.225+12%14957495119.050+17%14275860469.008+23%
Usd Book Value Change Per Share---0.130-0.004-97%0.251-152%0.051-357%0.031-521%
Usd Book Value Per Share--4.2034.249-1%3.766+12%3.592+17%3.428+23%
Usd Dividend Per Share----0%-0%0.094-100%0.116-100%
Usd Eps--0.1040.081+28%0.041+155%0.048+115%0.052+100%
Usd Free Cash Flow---991620054.700-545907846.275-45%-752470207.500-24%-316265926.460-68%-158132963.230-84%
Usd Free Cash Flow Per Share---0.238-0.131-45%-0.181-24%-0.084-65%-0.084-65%
Usd Free Cash Flow To Equity Per Share---0.238-0.131-45%-0.145-39%-0.063-74%-0.063-74%
Usd Market Cap14842428348.863-4%15401440329.97417168680909.004-10%20458308137.979-25%19037743368.422-19%16516205120.210-7%
Usd Price Per Share3.565-4%3.6994.123-10%4.912-25%4.572-19%3.966-7%
Usd Profit--431246059.200337696937.600+28%213871150.625+102%209184814.905+106%220130371.863+96%
Usd Revenue--3596441306.7003995300200.375-10%4949733591.275-27%4158166011.725-14%4101249554.243-12%
Usd Total Gains Per Share---0.130-0.004-97%0.251-152%0.144-190%0.147-189%
 EOD+4 -4MRQTTM+16 -16YOY+16 -175Y+15 -2010Y+17 -19

3.3 Fundamental Score

Let's check the fundamental score of EDP - Energias de Portugal S.A. based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-158.604
Price to Book Ratio (EOD)Between0-10.848
Net Profit Margin (MRQ)Greater than00.120
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.132
Current Ratio (MRQ)Greater than10.877
Debt to Asset Ratio (MRQ)Less than10.701
Debt to Equity Ratio (MRQ)Less than13.425
Return on Equity (MRQ)Greater than0.150.036
Return on Assets (MRQ)Greater than0.050.007
Total4/10 (40.0%)

3.4 Technical Score

Let's check the technical score of EDP - Energias de Portugal S.A. based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5038.077
Ma 20Greater thanMa 503.423
Ma 50Greater thanMa 1003.688
Ma 100Greater thanMa 2003.753
OpenGreater thanClose3.399
Total2/5 (40.0%)

4. In-depth Analysis

4.1 About EDP - Energias de Portugal S.A.

EDP, S.A. engages in the generation, transmission, distribution, and supply of electricity in Portugal, Spain, France, Poland, Romania, Italy, Belgium, the United Kingdom, Greece, Colombia, Brazil, North America, and internationally. It operates through Renewables, Networks, and Client Solutions & Energy Management segments. The company primarily generates and sells electricity through hydro, CCGT, coal, wind, solar, nuclear, and cogeneration and waste sources. It has an installed capacity of 28 GW; and operates 380,788 kilometers of distribution network lines. The company is also involved in the supply of natural gas. In addition, it offers engineering, laboratory tests, professional training, and energy services, as well as property management services. The company's electricity and gas customers include domestic, industrial, commercial, agricultural, and others. The company was formerly known as EDP - Energias de Portugal, S.A. and changed its name to EDP, S.A. in April 2024. The company was incorporated in 1976 and is headquartered in Lisbon, Portugal.

Fundamental data was last updated by Penke on 2024-11-13 13:34:03.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just not 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 yearCompared 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.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is expensive.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Edp earns for each €1 of revenue.

  • Above 10% is considered healthy but always compare Edp to the Utilities - Diversified industry mean.
  • A Net Profit Margin of 12.0% means that €0.12 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 12.0%. The company is making a huge profit. +2
  • The TTM is 8.6%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ12.0%TTM8.6%+3.4%
TTM8.6%YOY4.3%+4.2%
TTM8.6%5Y5.3%+3.3%
5Y5.3%10Y5.5%-0.2%
4.3.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Edp to the Utilities - Diversified industry mean.
  • 0.7% Return on Assets means that Edp generated €0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 0.7%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 0.6%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ0.7%TTM0.6%+0.2%
TTM0.6%YOY0.3%+0.2%
TTM0.6%5Y0.4%+0.2%
5Y0.4%10Y0.5%-0.1%
4.3.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Edp to the Utilities - Diversified industry mean.
  • 3.6% Return on Equity means Edp generated €0.04 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 3.6%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 2.8%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ3.6%TTM2.8%+0.8%
TTM2.8%YOY2.2%+0.6%
TTM2.8%5Y2.1%+0.7%
5Y2.1%10Y2.2%-0.2%
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4.3.2. Operating Efficiency of EDP - Energias de Portugal S.A..

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Edp is operating .

  • Measures how much profit Edp 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 Edp to the Utilities - Diversified industry mean.
  • An Operating Margin of 0.0% means the company generated €0.00  for each €1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY5.3%-5.3%
TTM-5Y9.9%-9.9%
5Y9.9%10Y5.8%+4.0%
4.3.2.2. Operating Ratio

Measures how efficient Edp is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Utilities - Diversified industry mean).
  • An Operation Ratio of 1.38 means that the operating costs are €1.38 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 1.377. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.475. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.377TTM1.475-0.098
TTM1.475YOY1.597-0.122
TTM1.4755Y1.565-0.090
5Y1.56510Y1.212+0.354
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4.4.3. Liquidity of EDP - Energias de Portugal S.A..

4.4.3. Liquidity
4.4.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Utilities - Diversified industry mean).
  • A Current Ratio of 0.88 means the company has €0.88 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 0.877. The company is just not able to pay all its short-term debts. -1
  • The TTM is 0.871. The company is just not able to pay all its short-term debts. -1
Trends
Current periodCompared to+/- 
MRQ0.877TTM0.871+0.006
TTM0.871YOY1.470-0.599
TTM0.8715Y1.105-0.234
5Y1.10510Y0.636+0.469
4.4.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Edp to the Utilities - Diversified industry mean.
  • A Quick Ratio of 0.13 means the company can pay off €0.13 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 0.132. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.127. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.132TTM0.127+0.005
TTM0.127YOY0.304-0.177
TTM0.1275Y0.359-0.232
5Y0.35910Y0.428-0.070
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4.5.4. Solvency of EDP - Energias de Portugal S.A..

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Edp to Utilities - Diversified industry mean.
  • A Debt to Asset Ratio of 0.70 means that Edp assets are financed with 70.1% credit (debt) and the remaining percentage (100% - 70.1%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 0.701. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.703. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.701TTM0.703-0.002
TTM0.703YOY0.749-0.045
TTM0.7035Y0.718-0.014
5Y0.71810Y0.707+0.011
4.5.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Edp to the Utilities - Diversified industry mean.
  • A Debt to Equity ratio of 342.5% means that company has €3.43 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of EDP - Energias de Portugal S.A.:

  • The MRQ is 3.425. The company is unable to pay all its debts with equity. -1
  • The TTM is 3.440. The company is unable to pay all its debts with equity. -1
Trends
Current periodCompared to+/- 
MRQ3.425TTM3.440-0.014
TTM3.440YOY4.985-1.545
TTM3.4405Y3.889-0.449
5Y3.88910Y3.578+0.310
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every €1 in earnings Edp generates.

  • Above 15 is considered overpriced but always compare Edp to the Utilities - Diversified industry mean.
  • A PE ratio of 8.93 means the investor is paying €8.93 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of EDP - Energias de Portugal S.A.:

  • The EOD is 8.604. Based on the earnings, the company is underpriced. +1
  • The MRQ is 8.928. Based on the earnings, the company is underpriced. +1
  • The TTM is 182.048. Based on the earnings, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD8.604MRQ8.928-0.324
MRQ8.928TTM182.048-173.119
TTM182.048YOY31.422+150.626
TTM182.0485Y58.837+123.211
5Y58.83710Y35.845+22.992
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of EDP - Energias de Portugal S.A.:

  • The EOD is -3.742. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -3.883. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -1.369. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-3.742MRQ-3.883+0.141
MRQ-3.883TTM-1.369-2.514
TTM-1.369YOY-1.760+0.392
TTM-1.3695Y-9.000+7.631
5Y-9.00010Y-4.500-4.500
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

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

  • At or below 1 is considered healthy (always compare to Utilities - Diversified industry mean).
  • A PB ratio of 0.88 means the investor is paying €0.88 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of EDP - Energias de Portugal S.A.:

  • The EOD is 0.848. Based on the equity, the company is cheap. +2
  • The MRQ is 0.880. Based on the equity, the company is cheap. +2
  • The TTM is 0.971. Based on the equity, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD0.848MRQ0.880-0.032
MRQ0.880TTM0.971-0.090
TTM0.971YOY1.325-0.354
TTM0.9715Y1.294-0.323
5Y1.29410Y1.164+0.130
4.6.2. Total Gains per Share
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6. Financial Statements




6.1. Latest Balance Sheet

Balance Sheet of 2024-06-30. Currency in EUR. All numbers in thousands.

Summary
Total Assets55,389,765
Total Liabilities38,835,370
Total Stockholder Equity11,337,708
 As reported
Total Liabilities 38,835,370
Total Stockholder Equity+ 11,337,708
Total Assets = 55,389,765

Assets

Total Assets55,389,765
Total Current Assets9,829,450
Long-term Assets45,560,315
Total Current Assets
Cash And Cash Equivalents 1,877,726
Short-term Investments 120,216
Net Receivables 1,361,821
Inventory 703,051
Other Current Assets 878,609
Total Current Assets  (as reported)9,829,450
Total Current Assets  (calculated)4,941,423
+/- 4,888,027
Long-term Assets
Property Plant Equipment 28,073,190
Goodwill 3,403,617
Intangible Assets 4,769,118
Long-term Assets Other 395,526
Long-term Assets  (as reported)45,560,315
Long-term Assets  (calculated)36,641,451
+/- 8,918,864

Liabilities & Shareholders' Equity

Total Current Liabilities11,211,372
Long-term Liabilities27,623,998
Total Stockholder Equity11,337,708
Total Current Liabilities
Short Long Term Debt 3,774,379
Accounts payable 3,030,088
Other Current Liabilities 183,024
Total Current Liabilities  (as reported)11,211,372
Total Current Liabilities  (calculated)6,987,491
+/- 4,223,881
Long-term Liabilities
Long term Debt 18,255,919
Capital Lease Obligations Min Short Term Debt1,282,466
Long-term Liabilities Other 1,269,597
Long-term Liabilities  (as reported)27,623,998
Long-term Liabilities  (calculated)20,807,982
+/- 6,816,016
Total Stockholder Equity
Retained Earnings 762,235
Total Stockholder Equity (as reported)11,337,708
Total Stockholder Equity (calculated)762,235
+/- 10,575,473
Other
Capital Stock4,184,022
Common Stock Shares Outstanding 4,163,910
Net Debt 20,152,572
Net Invested Capital 33,368,006
Net Working Capital -1,381,922
Property Plant and Equipment Gross 49,338,523



6.2. Balance Sheets Structured

Currency in EUR. All numbers in thousands.

 Trend2024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-06-302002-12-312002-06-302001-12-312000-12-312000-06-30
> Total Assets 
2,849,202,000
2,984,562,000
16,233,143
16,955,579
18,125,190
18,071,400
18,650,669
18,988,759
18,790,000
19,112,779
22,589,321
21,535,700
22,221,200
22,762,600
24,032,975
24,761,000
25,125,000
24,456,000
25,468,911
25,403,000
26,053,000
29,628,000
31,483,807
31,889,000
33,184,282
34,071,000
35,709,095
36,748,142
37,626,526
39,329,613
40,261,557
40,080,974
40,273,297
39,523,957
40,488,853
40,162,721
39,011,383
39,775,327
41,280,577
41,328,012
40,907,483
42,083,336
42,627,844
42,868,893
41,664,968
41,800,790
42,649,900
41,984,733
40,289,463
41,368,232
42,873,017
42,709,739
42,320,524
41,485,150
42,536,965
42,619,149
42,330,848
42,194,867
44,083,746
44,173,122
43,524,740
41,880,272
42,075,049
40,891,852
40,898,249
40,629,143
41,626,960
42,985,571
42,078,069
41,751,116
42,361,646
41,631,239
40,693,139
40,705,754
42,946,783
42,460,033
44,129,295
48,129,280
50,994,152
57,430,423
56,684,660
61,961,795
58,816,411
58,165,770
58,000,166
57,920,536
56,696,674
55,768,449
55,389,765
55,389,76555,768,44956,696,67457,920,53658,000,16658,165,77058,816,41161,961,79556,684,66057,430,42350,994,15248,129,28044,129,29542,460,03342,946,78340,705,75440,693,13941,631,23942,361,64641,751,11642,078,06942,985,57141,626,96040,629,14340,898,24940,891,85242,075,04941,880,27243,524,74044,173,12244,083,74642,194,86742,330,84842,619,14942,536,96541,485,15042,320,52442,709,73942,873,01741,368,23240,289,46341,984,73342,649,90041,800,79041,664,96842,868,89342,627,84442,083,33640,907,48341,328,01241,280,57739,775,32739,011,38340,162,72140,488,85339,523,95740,273,29740,080,97440,261,55739,329,61337,626,52636,748,14235,709,09534,071,00033,184,28231,889,00031,483,80729,628,00026,053,00025,403,00025,468,91124,456,00025,125,00024,761,00024,032,97522,762,60022,221,20021,535,70022,589,32119,112,77918,790,00018,988,75918,650,66918,071,40018,125,19016,955,57916,233,1432,984,562,0002,849,202,000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,657,611
6,440,076
7,826,792
7,001,144
6,305,628
8,362,403
8,047,168
8,789,607
9,892,486
8,120,382
7,099,128
8,103,337
11,354,574
13,816,428
16,576,039
15,425,695
17,599,795
15,362,054
13,737,178
12,119,352
11,551,832
12,133,191
10,219,940
9,829,450
9,829,45010,219,94012,133,19111,551,83212,119,35213,737,17815,362,05417,599,79515,425,69516,576,03913,816,42811,354,5748,103,3377,099,1288,120,3829,892,4868,789,6078,047,1688,362,4036,305,6287,001,1447,826,7926,440,0765,657,61100000000000000000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
919,971
1,803,205
1,581,814
1,380,961
1,672,367
1,542,722
1,444,625
1,375,821
1,751,622
2,954,302
1,361,889
1,531,195
2,489,038
3,222,409
3,722,450
3,058,982
3,512,820
4,898,572
4,153,975
3,110,813
1,993,325
3,369,485
2,330,031
1,877,726
1,877,7262,330,0313,369,4851,993,3253,110,8134,153,9754,898,5723,512,8203,058,9823,722,4503,222,4092,489,0381,531,1951,361,8892,954,3021,751,6221,375,8211,444,6251,542,7221,672,3671,380,9611,581,8141,803,205919,97100000000000000000000000000000000000000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,729
16,457
374,261
356,909
196,916
182,124
172,631
82,285
78,196
59,134
253,790
270,949
95,363
18,029
47,045
77,691
70,309
116,368
98,704
82,777
144,232
131,785
157,060
120,216
120,216157,060131,785144,23282,77798,704116,36870,30977,69147,04518,02995,363270,949253,79059,13478,19682,285172,631182,124196,916356,909374,26116,45714,72900000000000000000000000000000000000000000000000000000000000000000
       Net Receivables 
114,580,000
209,540,000
1,344,081
1,235,819
1,695,129
1,468,300
1,885,625
0
2,016,893
0
2,775,334
2,754,900
3,021,500
3,208,200
2,742,065
4,035,000
3,533,000
3,783,000
2,518,889
3,403,000
3,185,000
1,447,000
2,917,616
5,268,000
3,025,772
5,567,000
3,532,613
3,655,262
3,783,030
4,084,807
3,890,710
3,854,385
3,879,563
3,854,784
5,036,037
4,495,090
4,399,903
4,422,067
4,464,802
4,488,423
4,416,924
4,666,768
4,859,712
5,095,642
4,281,392
4,538,687
4,617,042
5,046,930
3,888,595
3,867,675
4,071,004
3,839,341
3,801,540
3,474,605
3,775,644
4,199,629
3,484,432
3,362,933
3,851,626
3,379,593
3,093,866
3,973,739
3,996,902
4,130,464
3,569,541
3,689,766
3,375,582
1,531,820
1,266,060
1,261,495
3,333,764
3,054,187
3,122,918
3,653,858
4,174,781
3,968,230
4,250,730
4,640,732
6,422,594
5,859,879
6,136,764
6,858,268
5,995,217
1,716,087
1,345,123
1,344,222
1,420,603
1,609,131
1,361,821
1,361,8211,609,1311,420,6031,344,2221,345,1231,716,0875,995,2176,858,2686,136,7645,859,8796,422,5944,640,7324,250,7303,968,2304,174,7813,653,8583,122,9183,054,1873,333,7641,261,4951,266,0601,531,8203,375,5823,689,7663,569,5414,130,4643,996,9023,973,7393,093,8663,379,5933,851,6263,362,9333,484,4324,199,6293,775,6443,474,6053,801,5403,839,3414,071,0043,867,6753,888,5955,046,9304,617,0424,538,6874,281,3925,095,6424,859,7124,666,7684,416,9244,488,4234,464,8024,422,0674,399,9034,495,0905,036,0373,854,7843,879,5633,854,3853,890,7104,084,8073,783,0303,655,2623,532,6135,567,0003,025,7725,268,0002,917,6161,447,0003,185,0003,403,0002,518,8893,783,0003,533,0004,035,0002,742,0653,208,2003,021,5002,754,9002,775,33402,016,89301,885,6251,468,3001,695,1291,235,8191,344,081209,540,000114,580,000
       Inventory 
21,339,000
22,830,000
109,037
139,637
150,306
134,700
159,236
0
144,016
0
168,567
158,400
147,700
174,900
219,194
236,000
203,000
220,000
228,692
199,000
198,000
206,000
282,595
249,000
313,024
323,000
276,800
240,015
258,199
264,916
273,376
264,824
321,971
360,364
356,978
377,257
395,994
394,386
346,060
321,541
315,169
317,968
377,618
298,581
282,791
242,642
280,009
255,490
211,073
239,035
266,456
233,297
230,541
256,541
204,206
208,156
211,092
223,831
316,577
281,946
267,317
290,535
265,775
304,421
304,676
356,356
342,037
319,354
336,696
379,686
368,334
337,765
305,253
303,213
323,945
325,914
372,605
366,537
575,849
684,371
964,673
1,420,581
1,256,300
1,078,677
1,026,000
824,255
805,448
734,043
703,051
703,051734,043805,448824,2551,026,0001,078,6771,256,3001,420,581964,673684,371575,849366,537372,605325,914323,945303,213305,253337,765368,334379,686336,696319,354342,037356,356304,676304,421265,775290,535267,317281,946316,577223,831211,092208,156204,206256,541230,541233,297266,456239,035211,073255,490280,009242,642282,791298,581377,618317,968315,169321,541346,060394,386395,994377,257356,978360,364321,971264,824273,376264,916258,199240,015276,800323,000313,024249,000282,595206,000198,000199,000228,692220,000203,000236,000219,194174,900147,700158,400168,5670144,0160159,236134,700150,306139,637109,03722,830,00021,339,000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
35,158,779
35,076,925
35,445,488
33,999,243
33,584,071
31,903,532
30,813,268
34,826,401
35,360,905
36,025,958
36,774,706
37,177,724
40,854,384
41,258,965
44,362,000
43,454,357
44,428,592
45,880,814
46,368,704
44,563,483
45,548,509
45,560,315
45,560,31545,548,50944,563,48346,368,70445,880,81444,428,59243,454,35744,362,00041,258,96540,854,38437,177,72436,774,70636,025,95835,360,90534,826,40130,813,26831,903,53233,584,07133,999,24335,445,48835,076,92535,158,7790000000000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
2,081,705,000
1,912,507,000
9,843,778
10,427,210
11,204,237
11,209,700
11,651,599
11,649,917
11,706,053
11,867,979
13,559,325
12,608,800
13,012,900
13,222,400
13,891,378
14,027,000
14,127,000
14,319,000
15,081,728
15,154,000
15,473,000
17,430,000
18,669,477
18,760,000
18,959,478
20,021,000
21,125,562
21,706,247
22,299,488
22,972,401
24,093,738
19,101,926
20,060,011
19,658,601
20,323,583
19,996,483
20,009,420
20,148,632
20,708,313
20,517,109
20,673,304
20,649,601
20,905,340
21,156,611
20,734,129
20,619,135
20,316,306
19,477,564
19,634,769
20,076,618
20,523,100
21,202,161
22,100,971
22,385,004
22,773,716
22,469,452
22,986,269
23,034,884
24,193,736
23,844,362
23,155,362
22,965,521
22,730,615
22,519,398
22,749,361
23,050,011
22,707,511
22,452,499
22,157,417
22,421,281
20,504,725
20,368,094
19,774,883
19,367,921
21,193,414
21,249,139
21,467,879
22,044,111
22,106,270
23,570,826
24,389,946
26,034,725
25,537,077
26,064,464
26,732,696
27,399,428
27,304,192
27,809,486
28,073,190
28,073,19027,809,48627,304,19227,399,42826,732,69626,064,46425,537,07726,034,72524,389,94623,570,82622,106,27022,044,11121,467,87921,249,13921,193,41419,367,92119,774,88320,368,09420,504,72522,421,28122,157,41722,452,49922,707,51123,050,01122,749,36122,519,39822,730,61522,965,52123,155,36223,844,36224,193,73623,034,88422,986,26922,469,45222,773,71622,385,00422,100,97121,202,16120,523,10020,076,61819,634,76919,477,56420,316,30620,619,13520,734,12921,156,61120,905,34020,649,60120,673,30420,517,10920,708,31320,148,63220,009,42019,996,48320,323,58319,658,60120,060,01119,101,92624,093,73822,972,40122,299,48821,706,24721,125,56220,021,00018,959,47818,760,00018,669,47717,430,00015,473,00015,154,00015,081,72814,319,00014,127,00014,027,00013,891,37813,222,40013,012,90012,608,80013,559,32511,867,97911,706,05311,649,91711,651,59911,209,70011,204,23710,427,2109,843,7781,912,507,0002,081,705,000
       Goodwill 
0
0
0
0
0
0
899,514
0
0
0
1,989,823
0
0
0
2,046,824
0
0
0
2,553,831
0
0
0
3,048,691
0
3,053,787
0
3,192,484
3,219,652
3,196,096
3,178,757
3,159,832
3,253,217
3,553,446
3,457,906
3,349,179
3,321,249
3,298,986
3,330,352
3,327,257
3,303,883
3,337,546
3,339,082
3,318,457
3,321,773
3,313,255
3,303,225
3,295,874
3,254,780
3,259,336
3,307,016
3,321,286
3,403,115
3,375,199
3,370,503
3,388,588
3,358,487
3,377,361
3,373,774
3,414,852
2,349,010
2,300,646
2,282,333
2,232,668
2,204,447
2,239,190
2,243,767
2,251,461
2,125,217
2,112,897
2,143,080
2,119,862
2,135,777
1,877,873
1,847,141
2,306,303
2,340,996
2,378,074
2,403,966
2,379,386
2,809,716
2,876,517
3,135,672
3,469,228
3,468,290
3,422,564
3,447,822
3,378,803
3,394,364
3,403,617
3,403,6173,394,3643,378,8033,447,8223,422,5643,468,2903,469,2283,135,6722,876,5172,809,7162,379,3862,403,9662,378,0742,340,9962,306,3031,847,1411,877,8732,135,7772,119,8622,143,0802,112,8972,125,2172,251,4612,243,7672,239,1902,204,4472,232,6682,282,3332,300,6462,349,0103,414,8523,373,7743,377,3613,358,4873,388,5883,370,5033,375,1993,403,1153,321,2863,307,0163,259,3363,254,7803,295,8743,303,2253,313,2553,321,7733,318,4573,339,0823,337,5463,303,8833,327,2573,330,3523,298,9863,321,2493,349,1793,457,9063,553,4463,253,2173,159,8323,178,7573,196,0963,219,6523,192,48403,053,78703,048,6910002,553,8310002,046,8240001,989,823000899,514000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,026,119
1,123,004
1,189,889
1,134,456
1,119,655
1,315,700
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000001,315,7001,119,6551,134,4561,189,8891,123,0041,026,11900000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
150,437,000
1,032,516
1,567,927
1,695,602
1,836,700
1,770,698
935,363
1,741,238
915,284
2,914,164
2,946,200
3,007,200
2,882,700
3,508,827
3,963,000
3,720,000
3,730,000
3,721,967
3,956,000
4,428,000
5,012,000
5,221,832
5,489,000
5,448,805
5,865,000
5,842,300
6,117,751
6,013,783
6,001,354
5,966,546
9,911,624
10,009,062
9,861,161
9,963,318
10,061,340
9,903,592
9,762,424
10,127,735
10,168,047
9,912,742
9,878,762
9,860,319
9,900,469
9,594,780
9,518,808
9,324,181
9,285,493
9,201,891
9,214,387
9,134,312
9,125,964
9,013,374
8,815,448
8,913,222
8,884,773
8,907,096
8,844,211
8,543,396
7,437,566
7,184,415
7,116,188
6,980,028
6,920,516
6,722,812
4,444,083
4,736,530
4,801,193
4,633,770
4,296,525
4,223,823
4,063,870
3,790,378
3,707,192
4,998,235
4,968,757
4,799,352
4,743,855
4,915,025
5,508,924
4,965,648
4,835,749
4,984,002
4,974,588
4,944,306
4,878,103
4,824,773
4,849,022
4,769,118
4,769,1184,849,0224,824,7734,878,1034,944,3064,974,5884,984,0024,835,7494,965,6485,508,9244,915,0254,743,8554,799,3524,968,7574,998,2353,707,1923,790,3784,063,8704,223,8234,296,5254,633,7704,801,1934,736,5304,444,0836,722,8126,920,5166,980,0287,116,1887,184,4157,437,5668,543,3968,844,2118,907,0968,884,7738,913,2228,815,4489,013,3749,125,9649,134,3129,214,3879,201,8919,285,4939,324,1819,518,8089,594,7809,900,4699,860,3199,878,7629,912,74210,168,04710,127,7359,762,4249,903,59210,061,3409,963,3189,861,16110,009,0629,911,6245,966,5466,001,3546,013,7836,117,7515,842,3005,865,0005,448,8055,489,0005,221,8325,012,0004,428,0003,956,0003,721,9673,730,0003,720,0003,963,0003,508,8272,882,7003,007,2002,946,2002,914,164915,2841,741,238935,3631,770,6981,836,7001,695,6021,567,9271,032,516150,437,0000
       Long-term Assets 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
164,094
166,600
199,159
107,744
94,589
93,090
91,201
96,311
146,698
45,688
159,590
221,721
246,879
256,879
126,811
348,002
375,703
225,233
220,340
401,412
393,812
395,526
395,526393,812401,412220,340225,233375,703348,002126,811256,879246,879221,721159,59045,688146,69896,31191,20193,09094,589107,744199,159166,600164,0940000000000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
1,657,769,000
1,733,157,000
9,895,668
10,933,587
12,565,809
12,601,400
13,116,177
13,559,201
13,191,943
13,425,992
15,386,589
16,889,500
17,307,100
17,529,100
17,921,812
18,589,000
18,934,000
17,954,000
18,934,015
18,597,000
19,154,000
22,644,000
24,233,035
24,612,000
24,691,661
25,366,000
27,162,186
27,756,039
28,631,569
29,866,021
30,282,869
29,577,480
29,882,974
29,145,196
29,703,894
29,104,738
28,376,371
28,852,416
29,893,798
29,572,060
29,800,467
30,805,109
31,196,176
30,936,761
30,263,735
30,282,897
31,121,339
30,001,757
28,609,522
29,627,696
30,903,873
30,468,516
29,984,716
29,552,603
30,415,472
29,976,677
29,336,799
29,074,561
30,347,374
30,120,949
30,041,298
28,080,575
28,594,789
27,356,641
28,057,952
28,112,315
28,726,633
29,795,048
29,512,294
29,079,329
29,729,633
29,409,651
29,119,224
28,264,520
29,868,374
29,170,376
29,782,707
34,452,666
37,016,587
43,330,513
44,007,726
49,937,390
44,981,803
41,314,374
41,369,036
41,235,852
40,039,871
38,700,974
38,835,370
38,835,37038,700,97440,039,87141,235,85241,369,03641,314,37444,981,80349,937,39044,007,72643,330,51337,016,58734,452,66629,782,70729,170,37629,868,37428,264,52029,119,22429,409,65129,729,63329,079,32929,512,29429,795,04828,726,63328,112,31528,057,95227,356,64128,594,78928,080,57530,041,29830,120,94930,347,37429,074,56129,336,79929,976,67730,415,47229,552,60329,984,71630,468,51630,903,87329,627,69628,609,52230,001,75731,121,33930,282,89730,263,73530,936,76131,196,17630,805,10929,800,46729,572,06029,893,79828,852,41628,376,37129,104,73829,703,89429,145,19629,882,97429,577,48030,282,86929,866,02128,631,56927,756,03927,162,18625,366,00024,691,66124,612,00024,233,03522,644,00019,154,00018,597,00018,934,01517,954,00018,934,00018,589,00017,921,81217,529,10017,307,10016,889,50015,386,58913,425,99213,191,94313,559,20113,116,17712,601,40012,565,80910,933,5879,895,6681,733,157,0001,657,769,000
   > Total Current Liabilities 
497,595,000
832,292,000
4,538,117
3,656,308
5,201,594
2,928,400
4,836,520
3,655,361
5,605,949
5,253,393
5,889,650
6,526,400
6,578,400
6,452,100
6,531,162
7,232,000
6,259,000
6,371,000
4,967,229
7,066,000
14,692,000
5,855,000
6,767,513
12,975,000
6,152,004
12,791,000
8,369,417
7,382,682
7,558,262
7,860,072
9,028,118
9,088,423
8,083,157
7,575,251
7,729,639
6,441,550
5,414,369
5,902,312
7,398,590
7,116,707
7,076,526
6,640,562
8,151,586
7,798,236
8,811,496
8,695,608
9,129,367
8,678,880
7,318,333
7,092,170
7,962,414
7,519,699
6,953,150
7,498,001
8,095,817
6,942,945
6,078,726
6,576,345
7,565,136
7,795,269
7,740,271
5,935,479
6,260,060
5,978,391
6,768,517
7,019,970
8,165,948
8,769,416
8,202,061
7,878,971
8,797,269
8,953,446
8,165,428
8,190,422
7,668,119
7,072,181
7,862,103
9,793,668
11,580,064
13,754,501
13,473,661
18,394,729
17,424,886
15,116,763
3,869,000
14,987,428
13,383,588
11,002,422
11,211,372
11,211,37211,002,42213,383,58814,987,4283,869,00015,116,76317,424,88618,394,72913,473,66113,754,50111,580,0649,793,6687,862,1037,072,1817,668,1198,190,4228,165,4288,953,4468,797,2697,878,9718,202,0618,769,4168,165,9487,019,9706,768,5175,978,3916,260,0605,935,4797,740,2717,795,2697,565,1366,576,3456,078,7266,942,9458,095,8177,498,0016,953,1507,519,6997,962,4147,092,1707,318,3338,678,8809,129,3678,695,6088,811,4967,798,2368,151,5866,640,5627,076,5267,116,7077,398,5905,902,3125,414,3696,441,5507,729,6397,575,2518,083,1579,088,4239,028,1187,860,0727,558,2627,382,6828,369,41712,791,0006,152,00412,975,0006,767,5135,855,00014,692,0007,066,0004,967,2296,371,0006,259,0007,232,0006,531,1626,452,1006,578,4006,526,4005,889,6505,253,3935,605,9493,655,3614,836,5202,928,4005,201,5943,656,3084,538,117832,292,000497,595,000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,334,934
2,864,126
3,198,251
2,885,147
3,096,721
3,557,381
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000003,557,3813,096,7212,885,1473,198,2512,864,1262,334,93400000000000000000000000000000000000000000000000000000000000000000
       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
0
0
0
0
2,334,934
2,864,126
3,198,251
2,885,524
3,106,322
3,564,181
2,968,829
3,245,852
2,953,270
2,443,269
1,922,067
2,512,941
1,576,852
1,535,395
1,464,950
1,703,709
3,446,292
4,220,934
3,818,209
3,897,282
5,031,749
3,950,552
2,723,008
3,774,379
3,774,3792,723,0083,950,5525,031,7493,897,2823,818,2094,220,9343,446,2921,703,7091,464,9501,535,3951,576,8522,512,9411,922,0672,443,2692,953,2703,245,8522,968,8293,564,1813,106,3222,885,5243,198,2512,864,1262,334,93400000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
42,424,000
80,105,000
570,563
812,028
787,361
792,200
678,741
0
703,336
0
849,513
4,455,600
4,566,400
4,629,000
953,953
5,762,000
4,945,000
5,247,000
854,337
6,158,000
6,221,000
0
812,878
10,796,000
706,322
10,167,000
957,430
1,030,506
1,241,663
826,595
1,295,816
848,285
1,037,862
1,099,319
1,333,211
1,288,877
929,140
877,592
1,110,659
1,008,194
983,465
1,030,822
1,169,387
1,115,151
937,005
832,369
1,269,457
1,146,903
945,891
982,297
1,123,667
844,401
1,039,233
849,240
979,482
752,705
796,336
821,870
1,020,684
748,237
749,470
1,010,484
947,702
851,839
850,207
991,996
956,608
1,015,326
919,871
904,784
919,745
651,139
560,080
603,708
799,158
592,886
635,269
728,264
1,006,643
809,567
1,114,878
1,299,423
1,256,420
938,637
967,079
842,777
3,861,352
3,275,125
3,030,088
3,030,0883,275,1253,861,352842,777967,079938,6371,256,4201,299,4231,114,878809,5671,006,643728,264635,269592,886799,158603,708560,080651,139919,745904,784919,8711,015,326956,608991,996850,207851,839947,7021,010,484749,470748,2371,020,684821,870796,336752,705979,482849,2401,039,233844,4011,123,667982,297945,8911,146,9031,269,457832,369937,0051,115,1511,169,3871,030,822983,4651,008,1941,110,659877,592929,1401,288,8771,333,2111,099,3191,037,862848,2851,295,816826,5951,241,6631,030,506957,43010,167,000706,32210,796,000812,87806,221,0006,158,000854,3375,247,0004,945,0005,762,000953,9534,629,0004,566,4004,455,600849,5130703,3360678,741792,200787,361812,028570,56380,105,00042,424,000
       Other Current Liabilities 
149,001,000
380,338,000
2,223,210
520,474
2,527,200
347,400
2,578,649
0
3,253,547
0
3,182,307
0
0
0
3,593,630
0
0
0
2,584,537
0
0
4,417,000
3,410,706
0
3,331,383
0
3,549,502
3,317,848
2,746,736
3,373,180
4,937,821
5,063,480
4,026,095
3,558,118
3,392,241
3,014,035
2,792,040
2,870,079
3,285,808
3,015,756
2,623,226
2,613,198
3,090,139
2,905,390
2,392,941
2,302,323
3,576,649
3,408,508
2,588,027
2,437,638
2,863,700
3,236,759
2,677,833
2,881,990
3,410,130
3,102,655
2,951,758
3,336,777
3,863,177
4,216,860
3,406,015
3,170,428
3,738,479
3,776,856
3,741,416
2,787,610
3,164,643
791,390
114,377
163,539
3,269,244
4,299,252
3,507,165
3,675,473
3,220,757
3,405,017
3,499,038
5,956,529
7,166,977
9,216,046
9,040,231
11,833,344
10,379,903
834,732
257,126
150,825
156,638
173,944
183,024
183,024173,944156,638150,825257,126834,73210,379,90311,833,3449,040,2319,216,0467,166,9775,956,5293,499,0383,405,0173,220,7573,675,4733,507,1654,299,2523,269,244163,539114,377791,3903,164,6432,787,6103,741,4163,776,8563,738,4793,170,4283,406,0154,216,8603,863,1773,336,7772,951,7583,102,6553,410,1302,881,9902,677,8333,236,7592,863,7002,437,6382,588,0273,408,5083,576,6492,302,3232,392,9412,905,3903,090,1392,613,1982,623,2263,015,7563,285,8082,870,0792,792,0403,014,0353,392,2413,558,1184,026,0955,063,4804,937,8213,373,1802,746,7363,317,8483,549,50203,331,38303,410,7064,417,000002,584,5370003,593,6300003,182,30703,253,54702,578,649347,4002,527,200520,4742,223,210380,338,000149,001,000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
21,025,632
21,310,233
21,200,358
20,932,364
20,456,205
20,953,796
20,074,098
22,200,255
22,098,195
21,920,604
24,658,998
25,436,523
29,576,012
30,534,065
31,542,661
27,556,917
26,197,611
27,152,724
26,248,424
26,656,283
27,698,552
27,623,998
27,623,99827,698,55226,656,28326,248,42427,152,72426,197,61127,556,91731,542,66130,534,06529,576,01225,436,52324,658,99821,920,60422,098,19522,200,25520,074,09820,953,79620,456,20520,932,36421,200,35821,310,23321,025,6320000000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
258,265,000
1,302,773
0
1,257,173
0
1,750,022
801,153
1,775,128
839,848
2,210,024
2,596,800
2,472,500
2,503,300
2,420,207
2,386,000
2,273,000
2,242,000
4,789,936
2,367,000
2,303,000
5,744,000
6,715,721
603,000
6,788,172
583,000
7,142,406
7,538,440
7,697,932
7,963,143
6,917,469
5,544,736
6,380,789
5,992,693
6,175,412
5,969,336
5,868,735
5,964,299
5,822,659
5,796,758
5,815,059
5,766,885
5,362,904
5,963,028
5,646,562
5,397,329
5,028,075
5,110,135
5,065,111
5,181,769
5,621,446
6,016,137
5,780,408
5,583,483
5,805,091
5,878,514
5,769,242
5,549,835
6,070,216
5,846,203
5,316,567
5,495,999
5,806,925
5,765,273
5,860,055
6,640,424
6,619,079
6,515,347
6,349,738
6,410,780
6,830,001
7,003,469
6,513,245
5,987,060
6,811,301
6,542,057
6,749,427
8,043,454
8,755,183
10,429,860
11,281,654
12,314,960
9,862,946
0
0
0
0
0
0
0000009,862,94612,314,96011,281,65410,429,8608,755,1838,043,4546,749,4276,542,0576,811,3015,987,0606,513,2457,003,4696,830,0016,410,7806,349,7386,515,3476,619,0796,640,4245,860,0555,765,2735,806,9255,495,9995,316,5675,846,2036,070,2165,549,8355,769,2425,878,5145,805,0915,583,4835,780,4086,016,1375,621,4465,181,7695,065,1115,110,1355,028,0755,397,3295,646,5625,963,0285,362,9045,766,8855,815,0595,796,7585,822,6595,964,2995,868,7355,969,3366,175,4125,992,6936,380,7895,544,7366,917,4697,963,1437,697,9327,538,4407,142,406583,0006,788,172603,0006,715,7215,744,0002,303,0002,367,0004,789,9362,242,0002,273,0002,386,0002,420,2072,503,3002,472,5002,596,8002,210,024839,8481,775,128801,1531,750,02201,257,17301,302,773258,265,0000
       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
67,960
66,850
64,921
63,507
62,612
63,752
72,968
34,345
36,191
33,600
30,537
30,181
30,627
34,130
37,832
37,744
32,128
32,219
0
0
0
0
0
0
00000032,21932,12837,74437,83234,13030,62730,18130,53733,60036,19134,34572,96863,75262,61263,50764,92166,85067,96000000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
1,191,224,000
1,243,938,000
6,096,758
5,815,003
5,494,182
5,413,000
5,298,007
5,196,253
5,364,221
5,470,488
6,401,714
3,914,100
4,102,300
4,140,800
4,823,400
4,831,000
4,864,000
5,142,000
5,589,235
5,835,000
5,963,000
6,029,000
6,264,146
6,343,000
6,337,954
6,437,000
6,365,180
6,743,061
6,612,475
7,006,058
7,291,151
7,700,767
7,465,593
7,520,996
7,854,558
8,128,117
7,692,598
7,761,268
8,109,534
8,425,249
7,926,921
8,110,404
8,192,354
8,564,367
8,217,874
8,382,919
8,445,756
8,802,738
8,476,423
8,541,276
8,681,465
8,994,572
8,629,631
8,525,454
8,669,775
8,950,269
8,712,749
8,966,726
9,406,287
9,623,797
9,133,061
9,798,319
9,545,938
9,592,608
8,953,777
8,661,961
8,968,178
9,185,079
8,807,554
8,895,468
8,858,187
8,657,894
8,086,671
9,066,116
9,582,655
9,783,393
9,811,811
9,143,963
9,322,809
9,120,248
7,697,782
6,867,605
8,883,449
11,058,201
10,696,924
11,455,534
11,552,639
11,845,305
11,337,708
11,337,70811,845,30511,552,63911,455,53410,696,92411,058,2018,883,4496,867,6057,697,7829,120,2489,322,8099,143,9639,811,8119,783,3939,582,6559,066,1168,086,6718,657,8948,858,1878,895,4688,807,5549,185,0798,968,1788,661,9618,953,7779,592,6089,545,9389,798,3199,133,0619,623,7979,406,2878,966,7268,712,7498,950,2698,669,7758,525,4548,629,6318,994,5728,681,4658,541,2768,476,4238,802,7388,445,7568,382,9198,217,8748,564,3678,192,3548,110,4047,926,9218,425,2498,109,5347,761,2687,692,5988,128,1177,854,5587,520,9967,465,5937,700,7677,291,1517,006,0586,612,4756,743,0616,365,1806,437,0006,337,9546,343,0006,264,1466,029,0005,963,0005,835,0005,589,2355,142,0004,864,0004,831,0004,823,4004,140,8004,102,3003,914,1006,401,7145,470,4885,364,2215,196,2535,298,0075,413,0005,494,1825,815,0036,096,7581,243,938,0001,191,224,000
   Common Stock
600,273,000
601,446,000
3,000,000
2,962,255
3,000,000
2,954,600
3,000,000
0
3,000,000
0
3,656,538
3,656,500
3,656,500
3,656,500
3,656,538
3,657,000
3,657,000
3,657,000
3,656,538
3,657,000
3,657,000
3,657,000
3,656,538
3,657,000
3,656,538
3,657,000
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,656,538
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
3,965,681
0
10,697,000
0
0
0
0
000010,697,00003,965,6813,965,6813,965,6813,965,6813,965,6813,965,6813,965,6813,965,6813,965,6813,965,6813,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,656,5383,657,0003,656,5383,657,0003,656,5383,657,0003,657,0003,657,0003,656,5383,657,0003,657,0003,657,0003,656,5383,656,5003,656,5003,656,5003,656,53803,000,00003,000,0002,954,6003,000,0002,962,2553,000,000601,446,000600,273,000
   Retained Earnings 
51,693,000
81,700,000
474,641
543,888
1,333,593
1,359,100
0
0
2,887,027
0
0
301,500
493,300
524,200
2,736,176
1,201,000
712,000
994,000
1,333,769
1,698,000
1,847,000
665,000
1,325,982
263,000
1,146,839
940,000
1,535,704
709,150
950,831
1,219,469
1,495,232
780,566
1,067,679
1,277,160
1,581,813
845,277
1,147,807
1,362,775
1,663,808
982,678
1,260,575
1,471,779
1,688,529
913,175
1,307,902
1,492,671
1,704,638
988,343
1,395,781
1,508,819
1,763,897
1,017,785
1,343,944
1,494,387
1,668,201
1,017,600
1,266,991
1,410,482
1,757,018
1,011,759
1,245,447
1,941,585
1,909,055
962,671
1,175,328
1,092,609
1,314,528
100,460
405,033
460,345
1,305,899
939,999
1,107,662
1,215,350
1,593,741
972,593
1,178,429
1,345,612
1,492,309
760,214
1,150,909
1,362,021
1,523,425
302,659
436,759
945,580
952,348
354,283
762,235
762,235354,283952,348945,580436,759302,6591,523,4251,362,0211,150,909760,2141,492,3091,345,6121,178,429972,5931,593,7411,215,3501,107,662939,9991,305,899460,345405,033100,4601,314,5281,092,6091,175,328962,6711,909,0551,941,5851,245,4471,011,7591,757,0181,410,4821,266,9911,017,6001,668,2011,494,3871,343,9441,017,7851,763,8971,508,8191,395,781988,3431,704,6381,492,6711,307,902913,1751,688,5291,471,7791,260,575982,6781,663,8081,362,7751,147,807845,2771,581,8131,277,1601,067,679780,5661,495,2321,219,469950,831709,1501,535,704940,0001,146,839263,0001,325,982665,0001,847,0001,698,0001,333,769994,000712,0001,201,0002,736,176524,200493,300301,500002,887,027001,359,1001,333,593543,888474,64181,700,00051,693,000
   Capital Surplus 00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock00000000000000000000000-62,410-62,410-63,909-62,957-62,088-62,088-63,528-63,528-62,525-61,891-62,031-62,691-65,661-64,328-67,205-69,931-69,225-69,100-78,280-85,573-86,352-90,709-99,227-103,706-104,913-106,467-112,385-111,430-111,227-108,104-110,059-115,731-117,174-117,093-117,393-119,784-121,305-124,984-126,242-126,5320-103,7870-65,741000-14,54200-27,000-38,119-40,000-47,600-43,900-31,6620-24,3490-49,0200-43,4940-33,095-1,611,0000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,471,301
3,555,599
4,191,229
3,509,132
3,541,734
3,453,047
3,618,654
2,878,668
2,748,683
2,880,736
3,702,622
3,523,360
2,688,329
2,720,957
3,251,473
1,435,958
394,669
2,249,109
0
0
0
0
0
0
0000002,249,109394,6691,435,9583,251,4732,720,9572,688,3293,523,3603,702,6222,880,7362,748,6832,878,6683,618,6543,453,0473,541,7343,509,1324,191,2293,555,5993,471,30100000000000000000000000000000000000000000000000000000000000000000



6.3. Balance Sheets

Currency in EUR. All numbers in thousands.