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Immobel
Buy, Hold or Sell?

Should you buy, hold or sell Immobel?

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

Let's analyse Immobel

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

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Immobel even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Immobel is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Immobel. The closing price on 2023-01-25 was €51.60 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Immobel Daily Candlestick Chart
Immobel Daily Candlestick Chart
Summary









1. Valuation of Immobel




Current price per share

€51.60

2. Growth of Immobel




Is Immobel growing?

Current yearPrevious yearGrowGrow %
How rich?$634.8m$538.5m$96.3m15.2%

How much money is Immobel making?

Current yearPrevious yearGrowGrow %
Making money$100.3m$36.2m$64.1m63.9%
Net Profit Margin24.3%9.1%--

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

3. Financial Health of Immobel




Comparing to competitors in the Real Estate Management & Development industry




  Industry Rankings (Real Estate Management & Development)  



Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very efficient.
The company is less efficient 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 able to pay all its debts by selling its assets.
The company is just able to pay all its debts with equity.

1.1. Profitability of Immobel.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Immobel to the Real Estate Management & Development industry mean.
  • A Net Profit Margin of 24.3% means that €0.24 for each €1 in revenue is generated as profit.

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

  • The MRQ is 24.3%. The company is making a huge profit. +2
  • The TTM is 24.3%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ24.3%TTM24.3%0.0%
TTM24.3%YOY9.1%+15.2%
TTM24.3%5Y16.8%+7.4%
5Y16.8%10Y18.1%-1.3%
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ24.3%8.6%+15.7%
TTM24.3%8.8%+15.5%
YOY9.1%8.0%+1.1%
5Y16.8%7.9%+8.9%
10Y18.1%9.3%+8.8%
1.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Immobel to the Real Estate Management & Development industry mean.
  • 5.5% Return on Assets means that Immobel generated €0.05 profit for each $1 in assets.

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

  • The MRQ is 5.5%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 5.5%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ5.5%TTM5.5%0.0%
TTM5.5%YOY2.3%+3.1%
TTM5.5%5Y4.6%+0.9%
5Y4.6%10Y3.8%+0.8%
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ5.5%0.3%+5.2%
TTM5.5%0.4%+5.1%
YOY2.3%0.4%+1.9%
5Y4.6%0.4%+4.2%
10Y3.8%0.5%+3.3%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Immobel to the Real Estate Management & Development industry mean.
  • 16.1% Return on Equity means Immobel generated €0.16 for each €1 the owners (shareholders) invested.

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

  • The MRQ is 16.1%. Using its investors money, the company is efficient in making profit. +1
  • The TTM is 16.1%. Using its investors money, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ16.1%TTM16.1%0.0%
TTM16.1%YOY6.8%+9.4%
TTM16.1%5Y13.4%+2.7%
5Y13.4%10Y10.2%+3.3%
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ16.1%0.6%+15.5%
TTM16.1%0.9%+15.2%
YOY6.8%0.7%+6.1%
5Y13.4%0.7%+12.7%
10Y10.2%0.7%+9.5%

1.2. Operating Efficiency of Immobel.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Immobel is operating .

  • Measures how much profit Immobel 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 Immobel to the Real Estate Management & Development industry mean.
  • An Operating Margin of 26.4% means the company generated €0.26  for each €1 in revenue (before taxes).

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

  • The MRQ is 26.4%. The company is operating very efficient. +2
  • The TTM is 26.4%. The company is operating very efficient. +2
Trends
Current periodCompared to+/- 
MRQ26.4%TTM26.4%0.0%
TTM26.4%YOY14.8%+11.6%
TTM26.4%5Y22.3%+4.1%
5Y22.3%10Y28.8%-6.5%
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ26.4%4.3%+22.1%
TTM26.4%2.1%+24.3%
YOY14.8%7.3%+7.5%
5Y22.3%7.1%+15.2%
10Y28.8%8.6%+20.2%
1.2.2. Operating Ratio

Measures how efficient Immobel is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Real Estate Management & Development industry mean).
  • An Operation Ratio of 0.88 means that the operating costs are €0.88 for each €1 in net sales.

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

  • The MRQ is 0.880. The company is less efficient in keeping operating costs low.
  • The TTM is 0.880. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.880TTM0.8800.000
TTM0.880YOY0.899-0.018
TTM0.8805Y0.846+0.034
5Y0.84610Y0.881-0.035
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8800.876+0.004
TTM0.8800.979-0.099
YOY0.8990.999-0.100
5Y0.8460.964-0.118
10Y0.8810.978-0.097

1.3. Liquidity of Immobel.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Real Estate Management & Development industry mean).
  • A Current Ratio of 2.08 means the company has €2.08 in assets for each €1 in short-term debts.

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

  • The MRQ is 2.079. The company is able to pay all its short-term debts. +1
  • The TTM is 2.079. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ2.079TTM2.0790.000
TTM2.079YOY3.005-0.926
TTM2.0795Y3.113-1.034
5Y3.11310Y3.553-0.440
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ2.0791.889+0.190
TTM2.0791.891+0.188
YOY3.0051.897+1.108
5Y3.1131.933+1.180
10Y3.5532.057+1.496
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Immobel to the Real Estate Management & Development industry mean.
  • A Quick Ratio of 0.82 means the company can pay off €0.82 for each €1 in debt (using most liquid assets).

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

  • The MRQ is 0.820. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.820. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.820TTM0.8200.000
TTM0.820YOY0.844-0.024
TTM0.8205Y0.879-0.058
5Y0.87910Y0.721+0.158
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8200.734+0.086
TTM0.8200.785+0.035
YOY0.8440.753+0.091
5Y0.8790.753+0.126
10Y0.7210.715+0.006

1.4. Solvency of Immobel.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Immobel to Real Estate Management & Development industry mean.
  • A Debt to Asset Ratio of 0.65 means that Immobel assets are financed with 65.4% credit (debt) and the remaining percentage (100% - 65.4%) is financed by its owners/shareholders. 

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

  • The MRQ is 0.654. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.654. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.654TTM0.6540.000
TTM0.654YOY0.6540.000
TTM0.6545Y0.649+0.005
5Y0.64910Y0.613+0.036
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6540.442+0.212
TTM0.6540.432+0.222
YOY0.6540.429+0.225
5Y0.6490.444+0.205
10Y0.6130.433+0.180
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Immobel to the Real Estate Management & Development industry mean.
  • A Debt to Equity ratio of 192.8% means that company has €1.93 debt for each €1 in shareholders equity.

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

  • The MRQ is 1.928. The company is just able to pay all its debts with equity.
  • The TTM is 1.928. The company is just able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ1.928TTM1.9280.000
TTM1.928YOY1.904+0.024
TTM1.9285Y1.864+0.064
5Y1.86410Y1.627+0.237
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ1.9280.777+1.151
TTM1.9280.762+1.166
YOY1.9040.752+1.152
5Y1.8640.784+1.080
10Y1.6270.710+0.917

2. Market Valuation of Immobel

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Immobel to the Real Estate Management & Development industry mean.
  • A PE ratio of 63.18 means the investor is paying €63.18 for every €1 in earnings.

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

  • The EOD is 44.722. Good. +1
  • The MRQ is 63.183. Neutral. Compare to industry.
  • The TTM is 63.183. Neutral. Compare to industry.
Trends
Current periodCompared to+/- 
EOD44.722MRQ63.183-18.461
MRQ63.183TTM63.1830.000
TTM63.183YOY20.440+42.743
TTM63.1835Y29.770+33.413
5Y29.77010Y101.925-72.154
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
EOD44.72217.314+27.408
MRQ63.18319.729+43.454
TTM63.18333.354+29.829
YOY20.44033.272-12.832
5Y29.77045.173-15.403
10Y101.92543.086+58.839
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Immobel.

  • 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 Immobel:

  • The MRQ is 182.715. Seems overpriced? -1
  • The TTM is 182.715. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ182.715TTM182.7150.000
TTM182.715YOY62.930+119.785
TTM182.7155Y97.664+85.051
5Y97.66410Y1,796.979-1,699.315
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
MRQ182.7150.216+182.499
TTM182.7150.227+182.488
YOY62.9300.133+62.797
5Y97.6640.170+97.494
10Y1,796.9790.158+1,796.821

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

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

  • At or below 1 is considered healthy (always compare to Real Estate Management & Development industry mean).
  • A PB ratio of 9.99 means the investor is paying €9.99 for each €1 in book value.

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

  • The EOD is 7.070. Seems overpriced? -1
  • The MRQ is 9.988. Seems overpriced? -1
  • The TTM is 9.988. Seems overpriced? -1
Trends
Current periodCompared to+/- 
EOD7.070MRQ9.988-2.918
MRQ9.988TTM9.9880.000
TTM9.988YOY1.375+8.613
TTM9.9885Y3.236+6.752
5Y3.23610Y2.567+0.669
Compared to industry (Real Estate Management & Development)
PeriodCompanyIndustry (mean)+/- 
EOD7.0700.413+6.657
MRQ9.9880.471+9.517
TTM9.9880.475+9.513
YOY1.3750.466+0.909
5Y3.2360.516+2.720
10Y2.5670.555+2.012
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Immobel 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---42.290-42.2900%6.652-736%-4.857-89%-1.103-97%
Book Value Growth--1.1791.1790%1.155+2%1.135+4%1.136+4%
Book Value Per Share--7.2997.2990%49.588-85%32.968-78%27.284-73%
Book Value Per Share Growth--0.1470.1470%1.155-87%0.929-84%1.033-86%
Current Ratio--2.0792.0790%3.005-31%3.113-33%3.553-41%
Debt To Asset Ratio--0.6540.6540%0.6540%0.649+1%0.613+7%
Debt To Equity Ratio--1.9281.9280%1.904+1%1.864+3%1.627+19%
Dividend Per Share--0.3620.3620%2.706-87%1.835-80%1.453-75%
Dividend Per Share Growth--0.1340.1340%1.270-89%0.824-84%1.721-92%
Eps--1.1541.1540%3.337-65%4.313-73%3.024-62%
Eps Growth--0.3460.3460%0.325+6%1.566-78%9.345-96%
Free Cash Flow Per Share---0.377-0.3770%-9.983+2547%-6.706+1678%-3.799+907%
Free Cash Flow Per Share Growth--1.9621.9620%1.355+45%0.125+1469%1.324+48%
Free Cash Flow To Equity Per Share--0.9030.9030%-1.793+299%1.503-40%0.764+18%
Free Cash Flow To Equity Per Share Growth--2.5042.5040%-0.752+130%1.097+128%1.022+145%
Gross Profit Margin--0.9950.9950%0.949+5%0.978+2%0.989+1%
Intrinsic Value_10Y_max--39.452--------
Intrinsic Value_10Y_min---63.862--------
Intrinsic Value_1Y_max--0.558--------
Intrinsic Value_1Y_min---8.137--------
Intrinsic Value_3Y_max--4.264--------
Intrinsic Value_3Y_min---23.088--------
Intrinsic Value_5Y_max--11.090--------
Intrinsic Value_5Y_min---36.434--------
Net Profit Margin--0.2430.2430%0.091+166%0.168+44%0.181+34%
Operating Margin--0.2640.2640%0.148+79%0.223+18%0.288-9%
Operating Ratio--0.8800.8800%0.899-2%0.846+4%0.8810%
Pb Ratio7.070-41%9.9889.9880%1.375+626%3.236+209%2.567+289%
Pe Ratio44.722-41%63.18363.1830%20.440+209%29.770+112%101.925-38%
Peg Ratio--182.715182.7150%62.930+190%97.664+87%1796.979-90%
Price Per Share51.600-41%72.90072.9000%68.200+7%62.628+16%51.569+41%
Price To Total Gains Ratio-1.231+29%-1.739-1.7390%7.288-124%16.281-111%89.074-102%
Profit Growth--2.7702.7700%0.325+753%2.051+35%9.587-71%
Quick Ratio--0.8200.8200%0.844-3%0.879-7%0.721+14%
Return On Assets--0.0550.0550%0.023+135%0.046+19%0.038+44%
Return On Equity--0.1610.1610%0.068+138%0.134+20%0.102+59%
Revenue Growth--1.0411.0410%0.892+17%1.190-13%1.513-31%
Total Gains Per Share---41.928-41.9280%9.357-548%-3.022-93%0.350-12093%
Total Gains Per Share Growth---4.481-4.4810%0.892-603%0.984-555%18.342-124%
Usd Book Value--634857082.900634857082.9000%538550148.100+18%469162280.180+35%351877863.550+80%
Usd Book Value Change Per Share---46.058-46.0580%7.244-736%-5.290-89%-1.202-97%
Usd Book Value Per Share--7.9497.9490%54.007-85%35.905-78%29.715-73%
Usd Dividend Per Share--0.3940.3940%2.947-87%1.999-80%1.582-75%
Usd Eps--1.2571.2570%3.634-65%4.698-73%3.293-62%
Usd Free Cash Flow---32801513.800-32801513.8000%-108418815.900+231%-78576386.800+140%-44131747.830+35%
Usd Free Cash Flow Per Share---0.411-0.4110%-10.872+2547%-7.304+1678%-4.138+907%
Usd Free Cash Flow To Equity Per Share--0.9840.9840%-1.953+299%1.637-40%0.832+18%
Usd Price Per Share56.198-41%79.39579.3950%74.277+7%68.208+16%56.164+41%
Usd Profit--100360565.000100360565.0000%36236535.200+177%64410898.740+56%41619956.500+141%
Usd Revenue--413323251.900413323251.9000%396954078.900+4%350949841.440+18%233014687.560+77%
Usd Total Gains Per Share---45.664-45.6640%10.191-548%-3.291-93%0.381-12093%
 EOD+4 -1MRQTTM+0 -0YOY+22 -215Y+16 -2710Y+20 -23

3.2. Fundamental Score

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

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1544.722
Price to Book Ratio (EOD)Between0-17.070
Net Profit Margin (MRQ)Greater than00.243
Operating Margin (MRQ)Greater than00.264
Quick Ratio (MRQ)Greater than10.820
Current Ratio (MRQ)Greater than12.079
Debt to Asset Ratio (MRQ)Less than10.654
Debt to Equity Ratio (MRQ)Less than11.928
Return on Equity (MRQ)Greater than0.150.161
Return on Assets (MRQ)Greater than0.050.055
Total6/10 (60.0%)

3.3. Technical Score

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

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5074.350
Ma 20Greater thanMa 5046.955
Ma 50Greater thanMa 10046.968
Ma 100Greater thanMa 20046.389
OpenGreater thanClose51.000
Total2/5 (40.0%)



Reversals in quarterly reports

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

 2017-12-312018-12-312019-12-312020-12-312021-12-31
Minority Interest  17991161,8952,0115572,568-2,763-195



Latest Balance Sheet

Balance Sheet of 2021-12-31. Currency in EUR. All numbers in thousands.

Summary
Total Assets1,685,149
Total Liabilities1,102,230
Total Stockholder Equity571,567
 As reported
Total Liabilities 1,102,230
Total Stockholder Equity+ 571,567
Total Assets = 1,685,149

Assets

Total Assets1,685,149
Total Current Assets1,178,890
Long-term Assets1,178,890
Total Current Assets
Cash And Cash Equivalents 273,377
Short-term Investments 49
Net Receivables 191,785
Inventory 698,623
Total Current Assets  (as reported)1,178,890
Total Current Assets  (calculated)1,163,834
+/- 15,056
Long-term Assets
Property Plant Equipment 6,565
Goodwill 43,789
Intangible Assets 246
Other Assets 298,112
Long-term Assets  (as reported)506,259
Long-term Assets  (calculated)348,712
+/- 157,547

Liabilities & Shareholders' Equity

Total Current Liabilities567,126
Long-term Liabilities535,104
Total Stockholder Equity571,567
Total Current Liabilities
Short-term Debt 359,093
Short Long Term Debt 357,463
Accounts payable 83,546
Other Current Liabilities 98,531
Total Current Liabilities  (as reported)567,126
Total Current Liabilities  (calculated)898,633
+/- 331,507
Long-term Liabilities
Long term Debt 505,466
Capital Lease Obligations 3,760
Other Liabilities 27,348
Long-term Liabilities  (as reported)535,104
Long-term Liabilities  (calculated)536,574
+/- 1,470
Total Stockholder Equity
Common Stock97,257
Retained Earnings 472,629
Other Stockholders Equity 1,681
Total Stockholder Equity (as reported)571,567
Total Stockholder Equity (calculated)571,567
+/-0
Other
Capital Stock97,257
Cash and Short Term Investments 273,426
Common Stock Shares Outstanding 79,867
Liabilities and Stockholders Equity 1,673,797
Net Debt 593,312
Net Invested Capital 1,434,496
Net Tangible Assets 527,532
Net Working Capital 611,764
Short Long Term Debt Total 866,689



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-31
> Total Assets 
412,706
457,331
520,664
486,021
521,299
420,415
319,151
358,485
303,508
406,798
417,567
526,964
444,473
447,145
716,232
800,242
966,370
1,301,214
1,431,138
1,685,149
1,685,1491,431,1381,301,214966,370800,242716,232447,145444,473526,964417,567406,798303,508358,485319,151420,415521,299486,021520,664457,331412,706
   > Total Current Assets 
305,981
372,173
445,967
408,592
430,573
393,131
303,217
345,298
292,093
400,954
409,874
520,447
366,980
379,607
627,886
734,063
784,700
1,087,903
982,768
1,178,890
1,178,890982,7681,087,903784,700734,063627,886379,607366,980520,447409,874400,954292,093345,298303,217393,131430,573408,592445,967372,173305,981
       Cash And Cash Equivalents 
6,505
7,868
11,772
55,829
62,478
132,732
15,792
67,736
34,239
46,964
26,918
31,394
25,470
16,952
120,638
135,221
152,998
156,146
148,059
273,377
273,377148,059156,146152,998135,221120,63816,95225,47031,39426,91846,96434,23967,73615,792132,73262,47855,82911,7727,8686,505
       Short-term Investments 
27,332
26,533
22,023
0
0
0
0
0
0
0
0
0
0
5,730
1,072
768
478
50
49
49
4949504787681,0725,730000000000022,02326,53327,332
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
18,966
13,019
8,184
13,581
37,672
39,496
52,772
157,229
127,873
191,785
191,785127,873157,22952,77239,49637,67213,5818,18413,01918,9660000000000
       Inventory 
216,175
270,328
297,288
283,731
302,336
224,639
261,961
260,250
240,769
327,863
359,924
464,655
310,971
334,541
443,115
518,514
511,837
694,580
683,121
698,623
698,623683,121694,580511,837518,514443,115334,541310,971464,655359,924327,863240,769260,250261,961224,639302,336283,731297,288270,328216,175
       Other Current Assets 
55,969
67,444
114,884
69,032
65,759
35,760
25,464
17,312
17,085
26,127
23,032
24,398
30,539
28,114
63,061
79,560
119,387
237,127
151,539
206,841
206,841151,539237,127119,38779,56063,06128,11430,53924,39823,03226,12717,08517,31225,46435,76065,75969,032114,88467,44455,969
   > Long-term Assets 
106,725
85,158
74,697
77,429
90,726
27,284
15,934
13,187
11,415
5,844
7,693
6,517
77,493
67,538
88,346
66,179
181,670
213,311
448,370
506,259
506,259448,370213,311181,67066,17988,34667,53877,4936,5177,6935,84411,41513,18715,93427,28490,72677,42974,69785,158106,725
       Property Plant Equipment 
71,456
52,454
41,371
1,708
2,069
2,182
113
1,380
1,278
1,214
1,255
1,024
873
730
898
1,034
947
7,424
5,778
6,565
6,5655,7787,4249471,0348987308731,0241,2551,2141,2781,3801132,1822,0691,70841,37152,45471,456
       Goodwill 
0
0
0
921
0
0
0
0
0
0
0
0
0
0
0
-1
0
43,789
43,789
43,789
43,78943,78943,7890-100000000000921000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
2,369
69,238
156
94,450
39,118
27,646
47,257
0
0
0
00047,25727,64639,11894,45015669,2382,3690000000000
       Intangible Assets 
237
232
163
73
72
45
53
21
12
47
36
95
154
169
141
405
426
543
582
246
246582543426405141169154953647122153457273163232237
       Long-term Assets Other 
8,137
8,594
22,023
72,838
87,375
24,538
15,464
11,505
10,051
3,866
5,285
3,954
76,321
66,453
7,392
33,696
129,017
94,412
275,531
276,869
276,869275,53194,412129,01733,6967,39266,45376,3213,9545,2853,86610,05111,50515,46424,53887,37572,83822,0238,5948,137
> Total Liabilities 
204,433
287,727
345,465
304,751
325,761
214,221
166,425
189,805
131,379
224,006
229,756
343,787
247,762
252,787
401,283
496,664
621,621
873,052
936,647
1,102,230
1,102,230936,647873,052621,621496,664401,283252,787247,762343,787229,756224,006131,379189,805166,425214,221325,761304,751345,465287,727204,433
   > Total Current Liabilities 
134,942
167,335
239,560
122,800
221,547
164,556
79,912
120,540
59,430
111,362
93,612
191,391
95,316
107,253
114,598
157,826
288,746
349,673
327,045
567,126
567,126327,045349,673288,746157,826114,598107,25395,316191,39193,612111,36259,430120,54079,912164,556221,547122,800239,560167,335134,942
       Short-term Debt 
0
0
0
0
0
91,769
0
0
22,540
74,330
51,788
148,757
67,726
62,267
40,532
68,816
193,749
200,063
180,810
359,093
359,093180,810200,063193,74968,81640,53262,26767,726148,75751,78874,33022,5400091,76900000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
189,448
193,386
218,290
26,648
40,532
68,816
193,749
198,561
179,196
357,463
357,463179,196198,561193,74968,81640,53226,648218,290193,386189,4480000000000
       Accounts payable 
3,433
4,511
6,585
31,621
38,174
40,237
27,605
22,583
13,342
20,883
21,509
20,729
12,251
18,894
33,763
41,493
48,470
59,564
60,927
83,546
83,54660,92759,56448,47041,49333,76318,89412,25120,72921,50920,88313,34222,58327,60540,23738,17431,6216,5854,5113,433
       Other Current Liabilities 
131,509
162,824
232,975
91,179
183,373
32,550
79,912
97,957
23,548
16,149
20,315
21,905
15,339
26,092
40,303
47,517
36,220
66,513
61,958
98,531
98,53161,95866,51336,22047,51740,30326,09215,33921,90520,31516,14923,54897,95779,91232,550183,37391,179232,975162,824131,509
   > Long-term Liabilities 
69,491
120,392
105,905
181,951
104,214
49,665
86,513
69,265
71,949
112,644
136,144
152,396
152,446
145,534
286,685
338,838
332,875
523,379
609,602
535,104
535,104609,602523,379332,875338,838286,685145,534152,446152,396136,144112,64471,94969,26586,51349,665104,214181,951105,905120,39269,491
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
281,578
330,090
322,040
507,008
0
0
00507,008322,040330,090281,57800000000000000
       Other Liabilities 
0
0
0
0
48,885
50,166
31,510
58,709
29,176
19,146
20,326
21,935
16,872
6,786
3,408
7,179
10,299
16,080
37,903
27,348
27,34837,90316,08010,2997,1793,4086,78616,87221,93520,32619,14629,17658,70931,51050,16648,8850000
> Total Stockholder Equity
208,271
169,594
175,189
181,268
195,440
206,170
152,724
168,679
172,152
182,825
187,855
183,168
196,703
194,375
311,032
303,561
344,633
426,151
491,922
571,567
571,567491,922426,151344,633303,561311,032194,375196,703183,168187,855182,825172,152168,679152,724206,170195,440181,268175,189169,594208,271
   Common Stock
97,201
100,000
100,000
0
100,285
100,285
60,302
60,302
60,302
60,302
60,302
60,302
60,302
60,302
97,189
97,256
97,256
97,256
97,256
97,257
97,25797,25697,25697,25697,25697,18960,30260,30260,30260,30260,30260,30260,30260,302100,285100,2850100,000100,00097,201
   Retained Earnings Total Equity00000000000000000000
   Accumulated Other Comprehensive Income 0-5,661-4,733-3,208-3,167-2,757-1,509-1,276-1,015-7570000000000
   Capital Surplus 00000000000000000000
   Treasury Stock00000000000000000000
   Other Stockholders Equity 
111,070
69,594
75,189
0
0
105,885
92,422
108,377
365
6
1,286
1,171
1,521
1,986
3,352
3,248
3,411
4,935
8,184
1,681
1,6818,1844,9353,4113,2483,3521,9861,5211,1711,2866365108,37792,422105,8850075,18969,594111,070



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.