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HAL Trust
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Quick analysis of HAL Trust (30 sec.)










1. Valuation of HAL Trust (5 min.)




Current price per share

€124.80

2. Growth of HAL Trust (5 min.)




Is HAL Trust growing?

Current yearPrevious yearGrowGrow %
How rich?$16.3b$15.8b$462.4m2.8%

How much money is HAL Trust making?

Current yearPrevious yearGrowGrow %
Making money$693m$4.5b-$3.8b-560.2%
Net Profit Margin6.5%58.4%--

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

3. Financial Health of HAL Trust (5 min.)




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




  Industry Rankings (Asset Management)  


Richest
#14 / 840

Most Revenue
#6 / 840

Most Profit
#17 / 840

Most Efficient
#612 / 840


Fundamentals of HAL Trust

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is less efficient 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 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 very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of HAL Trust.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare HAL Trust to the Asset Management industry mean.
  • A Net Profit Margin of 6.5% means that €0.06 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of HAL Trust:

  • The MRQ is 6.5%. The company is making a profit. +1
  • The TTM is 6.5%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ6.5%TTM6.5%0.0%
TTM6.5%YOY58.4%-51.9%
TTM6.5%5Y18.3%-11.8%
5Y18.3%10Y13.4%+4.8%
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ6.5%73.2%-66.7%
TTM6.5%71.9%-65.4%
YOY58.4%77.9%-19.5%
5Y18.3%66.1%-47.8%
10Y13.4%62.5%-49.1%
1.1.2. Return on Assets

Shows how efficient HAL Trust is using its assets to generate profit.

  • Above 5% is considered healthy but always compare HAL Trust to the Asset Management industry mean.
  • 2.4% Return on Assets means that HAL Trust generated €0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of HAL Trust:

  • The MRQ is 2.4%. Using its assets, the company is less efficient in making profit.
  • The TTM is 2.4%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ2.4%TTM2.4%0.0%
TTM2.4%YOY18.9%-16.5%
TTM2.4%5Y5.7%-3.3%
5Y5.7%10Y5.1%+0.6%
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ2.4%0.5%+1.9%
TTM2.4%0.3%+2.1%
YOY18.9%4.4%+14.5%
5Y5.7%1.6%+4.1%
10Y5.1%2.4%+2.7%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare HAL Trust to the Asset Management industry mean.
  • 5.0% Return on Equity means HAL Trust generated €0.05 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of HAL Trust:

  • The MRQ is 5.0%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 5.0%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ5.0%TTM5.0%0.0%
TTM5.0%YOY34.3%-29.4%
TTM5.0%5Y11.5%-6.5%
5Y11.5%10Y10.5%+1.0%
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ5.0%1.3%+3.7%
TTM5.0%1.1%+3.9%
YOY34.3%7.4%+26.9%
5Y11.5%2.8%+8.7%
10Y10.5%3.7%+6.8%

1.2. Operating Efficiency of HAL Trust.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient HAL Trust is operating .

  • Measures how much profit HAL Trust 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 HAL Trust to the Asset Management 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 HAL Trust:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY62.9%-62.9%
TTM-5Y20.2%-20.2%
5Y20.2%10Y16.5%+3.6%
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ-46.5%-46.5%
TTM-38.0%-38.0%
YOY62.9%62.2%+0.7%
5Y20.2%44.6%-24.4%
10Y16.5%42.8%-26.3%
1.2.2. Operating Ratio

Measures how efficient HAL Trust is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Asset Management industry mean).
  • An Operation Ratio of 1.68 means that the operating costs are €1.68 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of HAL Trust:

  • The MRQ is 1.683. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.683. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.683TTM1.6830.000
TTM1.683YOY0.920+0.762
TTM1.6835Y1.078+0.605
5Y1.07810Y0.987+0.091
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6830.333+1.350
TTM1.6830.301+1.382
YOY0.9200.238+0.682
5Y1.0780.398+0.680
10Y0.9870.474+0.513

1.3. Liquidity of HAL Trust.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Asset Management industry mean).
  • A Current Ratio of 1.56 means the company has €1.56 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of HAL Trust:

  • The MRQ is 1.561. The company is able to pay all its short-term debts. +1
  • The TTM is 1.561. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.561TTM1.5610.000
TTM1.561YOY3.015-1.454
TTM1.5615Y1.863-0.302
5Y1.86310Y1.739+0.125
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ1.5613.639-2.078
TTM1.5613.720-2.159
YOY3.0153.313-0.298
5Y1.8635.299-3.436
10Y1.7395.554-3.815
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare HAL Trust to the Asset Management industry mean.
  • A Quick Ratio of 0.80 means the company can pay off €0.80 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of HAL Trust:

  • The MRQ is 0.800. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.800. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.800TTM0.8000.000
TTM0.800YOY4.031-3.231
TTM0.8005Y1.452-0.652
5Y1.45210Y1.462-0.010
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8003.525-2.725
TTM0.8003.656-2.856
YOY4.0313.153+0.878
5Y1.4525.051-3.599
10Y1.4624.760-3.298

1.4. Solvency of HAL Trust.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of HAL Trust assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare HAL Trust to Asset Management industry mean.
  • A Debt to Asset Ratio of 0.43 means that HAL Trust assets are financed with 43.0% credit (debt) and the remaining percentage (100% - 43.0%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of HAL Trust:

  • The MRQ is 0.430. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.430. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.430TTM0.4300.000
TTM0.430YOY0.346+0.084
TTM0.4305Y0.423+0.006
5Y0.42310Y0.425-0.002
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4300.200+0.230
TTM0.4300.201+0.229
YOY0.3460.190+0.156
5Y0.4230.207+0.216
10Y0.4250.206+0.219
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare HAL Trust to the Asset Management industry mean.
  • A Debt to Equity ratio of 88.2% means that company has €0.88 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of HAL Trust:

  • The MRQ is 0.882. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.882. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.882TTM0.8820.000
TTM0.882YOY0.629+0.254
TTM0.8825Y0.948-0.066
5Y0.94810Y0.946+0.002
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8820.237+0.645
TTM0.8820.244+0.638
YOY0.6290.225+0.404
5Y0.9480.259+0.689
10Y0.9460.274+0.672

2. Market Valuation of HAL Trust

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare HAL Trust to the Asset Management industry mean.
  • A PE ratio of 16.44 means the investor is paying €16.44 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of HAL Trust:

  • The EOD is 17.094. Very good. +2
  • The MRQ is 16.436. Very good. +2
  • The TTM is 16.436. Very good. +2
Trends
Current periodCompared to+/- 
EOD17.094MRQ16.436+0.657
MRQ16.436TTM16.4360.000
TTM16.436YOY3.025+13.412
TTM16.4365Y27.884-11.448
5Y27.88410Y26.834+1.050
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
EOD17.0944.072+13.022
MRQ16.4364.476+11.960
TTM16.4362.621+13.815
YOY3.0257.923-4.898
5Y27.8847.720+20.164
10Y26.83410.637+16.197
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of HAL Trust.

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

Let's take a look of the Price Earnings to Growth Ratio trends of HAL Trust:

  • The MRQ is 108.514. Seems overpriced? -1
  • The TTM is 108.514. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ108.514TTM108.5140.000
TTM108.514YOY0.441+108.073
TTM108.5145Y67.839+40.675
5Y67.83910Y50.071+17.769
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
MRQ108.51411.282+97.232
TTM108.51412.761+95.753
YOY0.4417.362-6.921
5Y67.83950.188+17.651
10Y50.07178.450-28.379

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

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

  • At or below 1 is considered healthy (always compare to Asset Management industry mean).
  • A PB ratio of 0.70 means the investor is paying €0.70 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of HAL Trust:

  • The EOD is 0.726. Very good. +2
  • The MRQ is 0.698. Very good. +2
  • The TTM is 0.698. Very good. +2
Trends
Current periodCompared to+/- 
EOD0.726MRQ0.698+0.028
MRQ0.698TTM0.6980.000
TTM0.698YOY0.872-0.175
TTM0.6985Y1.032-0.334
5Y1.03210Y1.447-0.415
Compared to industry (Asset Management)
PeriodCompanyIndustry (mean)+/- 
EOD0.7260.925-0.199
MRQ0.6980.957-0.259
TTM0.6980.959-0.261
YOY0.8721.054-0.182
5Y1.0321.059-0.027
10Y1.4471.169+0.278
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of HAL Trust 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--4.8724.8720%47.434-90%12.387-61%12.546-61%
Book Value Growth--1.0291.0290%1.396-26%1.102-7%1.149-10%
Book Value Per Share--171.999171.9990%167.127+3%137.949+25%112.910+52%
Book Value Per Share Growth--1.0291.0290%1.396-26%1.102-7%1.149-10%
Current Ratio--1.5611.5610%3.015-48%1.863-16%1.739-10%
Debt To Asset Ratio--0.4300.4300%0.346+24%0.423+1%0.425+1%
Debt To Equity Ratio--0.8820.8820%0.629+40%0.948-7%0.946-7%
Dividend Per Share--2.7892.7890%2.263+23%2.605+7%1.848+51%
Dividend Per Share Growth--1.2321.2320%0.829+49%0.988+25%1.530-19%
Eps--7.3017.3010%48.200-85%14.359-49%10.430-30%
Eps Growth--0.1510.1510%6.856-98%2.525-94%1.794-92%
Free Cash Flow Per Share--5.7005.7000%7.506-24%7.291-22%5.855-3%
Free Cash Flow Per Share Growth--0.7590.7590%0.688+10%1.316-42%1.274-40%
Free Cash Flow To Equity Per Share--5.7005.7000%6.677-15%2.605+119%2.541+124%
Free Cash Flow To Equity Per Share Growth--0.8540.8540%3.933-78%1.924-56%2.070-59%
Gross Profit Margin--1.0001.0000%0.960+4%0.496+102%0.470+113%
Intrinsic Value_10Y_max--83.491--------
Intrinsic Value_10Y_min---1.283--------
Intrinsic Value_1Y_max--8.127--------
Intrinsic Value_1Y_min--4.391--------
Intrinsic Value_3Y_max--24.601--------
Intrinsic Value_3Y_min--9.357--------
Intrinsic Value_5Y_max--41.295--------
Intrinsic Value_5Y_min--10.080--------
Net Profit Margin--0.0650.0650%0.584-89%0.183-65%0.134-52%
Operating Margin----0%0.629-100%0.202-100%0.165-100%
Operating Ratio--1.6831.6830%0.920+83%1.078+56%0.987+71%
Pb Ratio0.726+4%0.6980.6980%0.872-20%1.032-32%1.447-52%
Pe Ratio17.094+4%16.43616.4360%3.025+443%27.884-41%26.834-39%
Peg Ratio--108.514108.5140%0.441+24497%67.839+60%50.071+117%
Price Per Share124.800+4%120.000120.0000%145.800-18%136.885-12%148.055-19%
Price To Total Gains Ratio16.290+4%15.66415.6640%2.934+434%20.406-23%20.061-22%
Profit Growth--0.1510.1510%6.794-98%2.515-94%1.788-92%
Quick Ratio--0.8000.8000%4.031-80%1.452-45%1.462-45%
Return On Assets--0.0240.0240%0.189-87%0.057-58%0.051-53%
Return On Equity--0.0500.0500%0.343-86%0.115-57%0.105-52%
Revenue Growth--1.3691.3690%1.3760%1.087+26%1.128+21%
Total Gains Per Share--7.6617.6610%49.697-85%14.992-49%14.394-47%
Total Gains Per Share Growth--0.1540.1540%14.814-99%3.784-96%2.785-94%
Usd Book Value--16327302700.00016327302700.0000%15864843300.000+3%13095122950.000+25%10718193070.000+52%
Usd Book Value Change Per Share--5.2205.2200%50.826-90%13.272-61%13.443-61%
Usd Book Value Per Share--184.296184.2960%179.076+3%147.813+25%120.983+52%
Usd Dividend Per Share--2.9892.9890%2.425+23%2.791+7%1.981+51%
Usd Eps--7.8237.8230%51.647-85%15.386-49%11.175-30%
Usd Free Cash Flow--541107500.000541107500.0000%712547500.000-24%692081850.000-22%555819195.000-3%
Usd Free Cash Flow Per Share--6.1086.1080%8.043-24%7.812-22%6.274-3%
Usd Free Cash Flow To Equity Per Share--6.1086.1080%7.154-15%2.791+119%2.723+124%
Usd Price Per Share133.723+4%128.580128.5800%156.225-18%146.673-12%158.641-19%
Usd Profit--693046200.000693046200.0000%4575519300.000-85%1364298090.000-49%995123480.000-30%
Usd Revenue--10731393950.00010731393950.0000%7836415250.000+37%7758195750.000+38%7635819735.000+41%
Usd Total Gains Per Share--8.2098.2090%53.250-85%16.064-49%15.424-47%
 EOD+2 -3MRQTTM+0 -0YOY+12 -315Y+15 -2810Y+14 -29

3.2. Fundamental Score

Let's check the fundamental score of HAL Trust based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1517.094
Price to Book Ratio (EOD)Between0-10.726
Net Profit Margin (MRQ)Greater than00.065
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.800
Current Ratio (MRQ)Greater than11.561
Debt to Asset Ratio (MRQ)Less than10.430
Debt to Equity Ratio (MRQ)Less than10.882
Return on Equity (MRQ)Greater than0.150.050
Return on Assets (MRQ)Greater than0.050.024
Total5/10 (50.0%)

3.3. Technical Score

Let's check the technical score of HAL Trust based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
OpenGreater thanClose126.800
Total1/1 (100.0%)



Reversals in quarterly reports

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

 2018-12-312019-12-312020-12-312021-12-312022-12-31
Operating Income  780,900-409,100371,800-114,900256,9004,208,3004,465,200-4,688,600-223,400



Latest Balance Sheet

Balance Sheet of 2022-12-31. Currency in EUR. All numbers in thousands.

Summary
Total Assets26,714,500
Total Liabilities11,476,700
Total Stockholder Equity13,010,100
 As reported
Total Liabilities 11,476,700
Total Stockholder Equity+ 13,010,100
Total Assets = 26,714,500

Assets

Total Assets26,714,500
Total Current Assets9,897,800
Long-term Assets9,897,800
Total Current Assets
Cash And Cash Equivalents 2,043,900
Short-term Investments 3,646,400
Net Receivables 1,423,800
Inventory 1,133,700
Total Current Assets  (as reported)9,897,800
Total Current Assets  (calculated)8,247,800
+/- 1,650,000
Long-term Assets
Goodwill 2,116,800
Intangible Assets 1,529,600
Long-term Assets  (as reported)16,816,700
Long-term Assets  (calculated)3,646,400
+/- 13,170,300

Liabilities & Shareholders' Equity

Total Current Liabilities6,339,300
Long-term Liabilities5,137,400
Total Stockholder Equity13,010,100
Total Current Liabilities
Short Long Term Debt 2,069,200
Accounts payable 1,317,000
Total Current Liabilities  (as reported)6,339,300
Total Current Liabilities  (calculated)3,386,200
+/- 2,953,100
Long-term Liabilities
Long term Debt 2,956,500
Capital Lease Obligations Min Short Term Debt1,195,300
Long-term Liabilities  (as reported)5,137,400
Long-term Liabilities  (calculated)4,151,800
+/- 985,600
Total Stockholder Equity
Retained Earnings 12,674,800
Total Stockholder Equity (as reported)13,010,100
Total Stockholder Equity (calculated)12,674,800
+/- 335,300
Other
Capital Stock1,800
Common Stock Shares Outstanding 88,593
Net Debt 2,981,800
Net Invested Capital 18,035,800
Net Working Capital 3,558,500



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-31
> Total Assets 
2,930,702
2,482,322
2,654,364
3,102,800
3,795,477
4,403,400
4,793,700
4,957,200
5,778,400
6,530,500
6,806,700
7,123,800
13,574,500
15,375,300
16,618,300
16,086,700
16,475,900
19,757,400
20,269,000
22,622,300
26,714,500
26,714,50022,622,30020,269,00019,757,40016,475,90016,086,70016,618,30015,375,30013,574,5007,123,8006,806,7006,530,5005,778,4004,957,2004,793,7004,403,4003,795,4773,102,8002,654,3642,482,3222,930,702
   > Total Current Assets 
0
0
0
0
1,216,636
1,640,300
1,606,800
0
0
0
1,437,200
1,442,600
3,123,600
4,318,300
5,487,900
4,987,600
4,913,300
8,836,500
8,956,700
9,361,300
9,897,800
9,897,8009,361,3008,956,7008,836,5004,913,3004,987,6005,487,9004,318,3003,123,6001,442,6001,437,2000001,606,8001,640,3001,216,6360000
       Cash And Cash Equivalents 
0
0
0
0
132,917
183,800
160,400
0
0
0
311,200
471,200
1,147,400
2,126,600
3,143,600
2,205,000
2,276,500
1,558,600
1,426,900
2,256,400
2,043,900
2,043,9002,256,4001,426,9001,558,6002,276,5002,205,0003,143,6002,126,6001,147,400471,200311,200000160,400183,800132,9170000
       Short-term Investments 
0
0
0
0
422,235
698,000
569,700
0
0
0
158,500
81,800
151,800
270,400
233,500
624,900
274,700
222,600
195,800
4,437,300
3,646,400
3,646,4004,437,300195,800222,600274,700624,900233,500270,400151,80081,800158,500000569,700698,000422,2350000
       Net Receivables 
0
0
0
0
241,432
305,000
312,900
0
0
0
0
1,021,500
1,029,500
1,043,700
1,163,600
1,163,400
1,306,100
1,126,200
1,262,100
1,382,200
1,423,800
1,423,8001,382,2001,262,1001,126,2001,306,1001,163,4001,163,6001,043,7001,029,5001,021,5000000312,900305,000241,4320000
       Other Current Assets 
0
0
0
0
134,840
131,500
184,200
0
0
0
613,600
532,800
1,188,000
1,189,800
1,342,500
1,315,000
1,530,900
6,391,000
6,617,100
1,700,200
0
01,700,2006,617,1006,391,0001,530,9001,315,0001,342,5001,189,8001,188,000532,800613,600000184,200131,500134,8400000
   > Long-term Assets 
0
0
0
0
2,578,841
2,763,100
3,186,900
0
0
0
5,369,500
5,681,200
10,450,900
11,057,000
11,130,400
11,099,100
11,562,600
10,920,900
11,312,300
13,261,000
16,816,700
16,816,70013,261,00011,312,30010,920,90011,562,60011,099,10011,130,40011,057,00010,450,9005,681,2005,369,5000003,186,9002,763,1002,578,8410000
       Property Plant Equipment 
339,163
268,508
338,379
523,265
456,446
501,400
668,900
743,800
747,700
828,700
908,100
969,000
4,943,400
4,955,000
5,082,100
5,030,700
5,456,400
5,900,900
6,108,100
6,218,700
0
06,218,7006,108,1005,900,9005,456,4005,030,7005,082,1004,955,0004,943,400969,000908,100828,700747,700743,800668,900501,400456,446523,265338,379268,508339,163
       Goodwill 
367,701
333,485
0
0
0
0
0
0
0
0
1,373,500
1,330,800
1,608,300
1,743,700
1,511,400
1,534,800
1,588,700
494,800
532,000
1,133,500
2,116,800
2,116,8001,133,500532,000494,8001,588,7001,534,8001,511,4001,743,7001,608,3001,330,8001,373,50000000000333,485367,701
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
2,445,500
2,756,600
3,117,800
3,293,100
3,273,700
3,236,300
0
0
0
0
00003,236,3003,273,7003,293,1003,117,8002,756,6002,445,50000000000000
       Intangible Assets 
0
0
605,584
911,529
1,192,211
1,344,200
1,493,800
1,521,100
1,825,800
1,862,500
565,900
531,200
840,200
858,300
910,400
1,033,900
1,053,700
684,900
781,100
1,179,700
1,529,600
1,529,6001,179,700781,100684,9001,053,7001,033,900910,400858,300840,200531,200565,9001,862,5001,825,8001,521,1001,493,8001,344,2001,192,211911,529605,58400
       Long-term Assets Other 
0
0
0
0
139,558
147,700
147,000
0
0
0
281,400
189,700
237,400
477,800
415,100
736,900
367,400
1,076,800
288,100
4,599,600
0
04,599,600288,1001,076,800367,400736,900415,100477,800237,400189,700281,400000147,000147,700139,5580000
> Total Liabilities 
1,373,194
1,186,656
1,348,664
1,505,559
1,542,236
1,625,500
1,892,000
1,752,600
2,153,200
2,509,000
2,683,700
2,433,600
7,171,200
7,055,300
6,859,400
6,335,800
6,565,900
9,208,800
9,665,100
7,816,100
11,476,700
11,476,7007,816,1009,665,1009,208,8006,565,9006,335,8006,859,4007,055,3007,171,2002,433,6002,683,7002,509,0002,153,2001,752,6001,892,0001,625,5001,542,2361,505,5591,348,6641,186,6561,373,194
   > Total Current Liabilities 
0
0
0
0
945,847
1,005,000
1,119,200
0
0
0
1,297,500
1,111,600
2,341,900
2,419,100
2,857,300
2,878,600
3,113,700
5,593,500
5,662,700
3,104,400
6,339,300
6,339,3003,104,4005,662,7005,593,5003,113,7002,878,6002,857,3002,419,1002,341,9001,111,6001,297,5000001,119,2001,005,000945,8470000
       Short-term Debt 
0
0
0
0
384,886
358,700
420,100
0
0
0
385,700
275,700
600,400
613,900
921,300
934,300
1,055,700
810,800
867,100
937,600
0
0937,600867,100810,8001,055,700934,300921,300613,900600,400275,700385,700000420,100358,700384,8860000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
3,475,200
62,000
63,500
921,300
934,300
1,055,700
704,500
754,700
814,200
2,069,200
2,069,200814,200754,700704,5001,055,700934,300921,30063,50062,0003,475,20000000000000
       Accounts payable 
0
0
0
0
236,276
265,200
271,900
0
0
0
261,100
238,000
676,400
663,500
832,000
800,100
861,000
771,900
894,400
1,040,600
1,317,000
1,317,0001,040,600894,400771,900861,000800,100832,000663,500676,400238,000261,100000271,900265,200236,2760000
       Other Current Liabilities 
0
0
0
0
288,484
358,000
413,200
0
0
0
545,200
515,000
886,400
889,600
918,500
951,000
1,002,800
3,886,100
3,730,800
911,000
0
0911,0003,730,8003,886,1001,002,800951,000918,500889,600886,400515,000545,200000413,200358,000288,4840000
   > Long-term Liabilities 
0
0
0
0
596,389
620,500
772,800
0
0
0
1,386,200
1,322,000
4,829,300
4,636,200
4,002,100
3,457,200
3,452,200
3,615,300
4,002,400
4,711,700
5,137,400
5,137,4004,711,7004,002,4003,615,3003,452,2003,457,2004,002,1004,636,2004,829,3001,322,0001,386,200000772,800620,500596,3890000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
997,800
1,112,200
904,900
1,032,000
930,700
857,900
706,300
744,200
845,400
0
0845,400744,200706,300857,900930,7001,032,000904,9001,112,200997,80000000000000
> Total Stockholder Equity
1,559,140
1,309,440
1,195,168
1,605,653
2,201,741
2,691,500
2,807,500
3,132,400
3,595,100
3,969,900
4,300,300
4,640,700
5,063,400
6,724,900
7,624,700
7,599,800
7,512,200
8,012,300
8,005,800
12,434,700
13,010,100
13,010,10012,434,7008,005,8008,012,3007,512,2007,599,8007,624,7006,724,9005,063,4004,640,7004,300,3003,969,9003,595,1003,132,4002,807,5002,691,5002,201,7411,605,6531,195,1681,309,4401,559,140
   Common Stock
0
0
0
1,076
1,274
1,300
1,300
1,300
1,300
1,300
1,400
1,400
1,500
1,500
1,600
1,600
1,600
1,700
1,700
1,700
0
01,7001,7001,7001,6001,6001,6001,5001,5001,4001,4001,3001,3001,3001,3001,3001,2741,076000
   Retained Earnings Total Equity000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
0
110,678
63,500
-23,300
-1,079,700
-1,223,500
-1,310,400
-1,439,200
-1,497,600
-4,443,400
-4,607,300
-4,784,600
-4,946,100
-5,527,200
-4,816,500
-5,058,100
0
0
00-5,058,100-4,816,500-5,527,200-4,946,100-4,784,600-4,607,300-4,443,400-1,497,600-1,439,200-1,310,400-1,223,500-1,079,700-23,30063,500110,6780000
   Capital Surplus 000000000000000000000
   Treasury Stock000000000000000000000
   Other Stockholders Equity 
1,559,140
1,309,440
1,195,168
88,174
0
0
0
1,159,400
1,372,900
1,401,800
1,505,500
1,589,300
4,502,000
4,775,200
5,107,200
5,101,200
5,568,000
4,990,300
4,785,100
93,700
0
093,7004,785,1004,990,3005,568,0005,101,2005,107,2004,775,2004,502,0001,589,3001,505,5001,401,8001,372,9001,159,40000088,1741,195,1681,309,4401,559,140



Balance Sheet

Currency in EUR. All numbers in thousands.




Cash Flow

Currency in EUR. All numbers in thousands.




Income Statement

Currency in EUR. All numbers in thousands.