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Koninklijke KPN NV
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Quick analysis of Kpn (30 sec.)










1. Valuation of Kpn (5 min.)




Current price per share

€3.18

2. Growth of Kpn (5 min.)




Is Kpn growing?

Current yearPrevious yearGrowGrow %
How rich?$3.9b$3.4b$452.1m11.6%

How much money is Kpn making?

Current yearPrevious yearGrowGrow %
Making money$814.3m$1.3b-$565.7m-69.5%
Net Profit Margin14.3%24.4%--

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

3. Financial Health of Kpn (5 min.)




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




  Industry Rankings (Telecom Services)  


Richest
#76 / 273

Most Revenue
#48 / 273

Most Profit
#38 / 273


Fundamentals of Kpn

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 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 just not able to pay all its debts with equity.

1.1. Profitability of Koninklijke KPN NV.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Kpn to the Telecom Services industry mean.
  • A Net Profit Margin of 14.3% means that €0.14 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Koninklijke KPN NV:

  • The MRQ is 14.3%. The company is making a huge profit. +2
  • The TTM is 14.3%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ14.3%TTM14.3%0.0%
TTM14.3%YOY24.4%-10.2%
TTM14.3%5Y13.1%+1.2%
5Y13.1%10Y9.9%+3.2%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ14.3%4.8%+9.5%
TTM14.3%4.9%+9.4%
YOY24.4%7.9%+16.5%
5Y13.1%5.1%+8.0%
10Y9.9%5.6%+4.3%
1.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Kpn to the Telecom Services industry mean.
  • 6.4% Return on Assets means that Kpn generated €0.06 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Koninklijke KPN NV:

  • The MRQ is 6.4%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 6.4%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ6.4%TTM6.4%0.0%
TTM6.4%YOY10.1%-3.8%
TTM6.4%5Y5.7%+0.7%
5Y5.7%10Y4.2%+1.4%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ6.4%0.9%+5.5%
TTM6.4%0.9%+5.5%
YOY10.1%1.3%+8.8%
5Y5.7%1.0%+4.7%
10Y4.2%1.1%+3.1%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Kpn to the Telecom Services industry mean.
  • 20.8% Return on Equity means Kpn generated €0.21 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Koninklijke KPN NV:

  • The MRQ is 20.8%. Using its investors money, the company is efficient in making profit. +1
  • The TTM is 20.8%. Using its investors money, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ20.8%TTM20.8%0.0%
TTM20.8%YOY39.9%-19.1%
TTM20.8%5Y24.4%-3.6%
5Y24.4%10Y17.8%+6.6%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ20.8%3.2%+17.6%
TTM20.8%3.0%+17.8%
YOY39.9%3.8%+36.1%
5Y24.4%2.9%+21.5%
10Y17.8%2.7%+15.1%

1.2. Operating Efficiency of Koninklijke KPN NV.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Kpn is operating .

  • Measures how much profit Kpn 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 Kpn to the Telecom Services 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 Koninklijke KPN NV:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY20.6%-20.6%
TTM-5Y14.5%-14.5%
5Y14.5%10Y15.1%-0.6%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ-9.9%-9.9%
TTM-9.6%-9.6%
YOY20.6%11.5%+9.1%
5Y14.5%11.4%+3.1%
10Y15.1%11.5%+3.6%
1.2.2. Operating Ratio

Measures how efficient Kpn is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Telecom Services industry mean).
  • An Operation Ratio of 1.01 means that the operating costs are €1.01 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of Koninklijke KPN NV:

  • The MRQ is 1.008. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.008. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.008TTM1.0080.000
TTM1.008YOY1.030-0.022
TTM1.0085Y1.050-0.042
5Y1.05010Y1.090-0.040
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0081.091-0.083
TTM1.0081.083-0.075
YOY1.0301.089-0.059
5Y1.0501.067-0.017
10Y1.0901.026+0.064

1.3. Liquidity of Koninklijke KPN NV.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Telecom Services industry mean).
  • A Current Ratio of 0.83 means the company has €0.83 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of Koninklijke KPN NV:

  • The MRQ is 0.827. The company is just not able to pay all its short-term debts. -1
  • The TTM is 0.827. The company is just not able to pay all its short-term debts. -1
Trends
Current periodCompared to+/- 
MRQ0.827TTM0.8270.000
TTM0.827YOY0.841-0.014
TTM0.8275Y0.799+0.028
5Y0.79910Y0.847-0.048
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8270.948-0.121
TTM0.8270.940-0.113
YOY0.8411.007-0.166
5Y0.7991.020-0.221
10Y0.8470.964-0.117
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Kpn to the Telecom Services industry mean.
  • A Quick Ratio of 0.22 means the company can pay off €0.22 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Koninklijke KPN NV:

  • The MRQ is 0.222. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.222. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.222TTM0.2220.000
TTM0.222YOY0.419-0.197
TTM0.2225Y0.541-0.320
5Y0.54110Y0.691-0.150
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2220.550-0.328
TTM0.2220.597-0.375
YOY0.4190.660-0.241
5Y0.5410.668-0.127
10Y0.6910.661+0.030

1.4. Solvency of Koninklijke KPN NV.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Kpn to Telecom Services industry mean.
  • A Debt to Asset Ratio of 0.69 means that Kpn assets are financed with 69.5% credit (debt) and the remaining percentage (100% - 69.5%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Koninklijke KPN NV:

  • The MRQ is 0.695. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.695. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.695TTM0.6950.000
TTM0.695YOY0.746-0.052
TTM0.6955Y0.775-0.080
5Y0.77510Y0.764+0.011
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6950.637+0.058
TTM0.6950.637+0.058
YOY0.7460.635+0.111
5Y0.7750.643+0.132
10Y0.7640.645+0.119
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Kpn to the Telecom Services industry mean.
  • A Debt to Equity ratio of 227.7% means that company has €2.28 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Koninklijke KPN NV:

  • The MRQ is 2.277. The company is just not able to pay all its debts with equity.
  • The TTM is 2.277. The company is just not able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ2.277TTM2.2770.000
TTM2.277YOY2.945-0.668
TTM2.2775Y3.733-1.456
5Y3.73310Y3.425+0.308
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.2771.685+0.592
TTM2.2771.732+0.545
YOY2.9451.701+1.244
5Y3.7331.804+1.929
10Y3.4251.729+1.696

2. Market Valuation of Koninklijke KPN NV

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Kpn to the Telecom Services industry mean.
  • A PE ratio of 15.34 means the investor is paying €15.34 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Koninklijke KPN NV:

  • The EOD is 16.899. Very good. +2
  • The MRQ is 15.339. Very good. +2
  • The TTM is 15.339. Very good. +2
Trends
Current periodCompared to+/- 
EOD16.899MRQ15.339+1.560
MRQ15.339TTM15.3390.000
TTM15.339YOY8.821+6.518
TTM15.3395Y21.815-6.476
5Y21.81510Y26.330-4.515
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD16.89915.996+0.903
MRQ15.33916.018-0.679
TTM15.33916.101-0.762
YOY8.82128.996-20.175
5Y21.81529.046-7.231
10Y26.33028.643-2.313
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Kpn.

  • 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 Koninklijke KPN NV:

  • The MRQ is 25.197. Seems overpriced? -1
  • The TTM is 25.197. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ25.197TTM25.1970.000
TTM25.197YOY3.729+21.467
TTM25.1975Y26.039-0.842
5Y26.03910Y37.260-11.221
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ25.19718.904+6.293
TTM25.19726.213-1.016
YOY3.72942.665-38.936
5Y26.03980.084-54.045
10Y37.260116.387-79.127

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

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

  • At or below 1 is considered healthy (always compare to Telecom Services industry mean).
  • A PB ratio of 3.19 means the investor is paying €3.19 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of Koninklijke KPN NV:

  • The EOD is 3.517. Neutral. Compare to industry.
  • The MRQ is 3.192. Neutral. Compare to industry.
  • The TTM is 3.192. Neutral. Compare to industry.
Trends
Current periodCompared to+/- 
EOD3.517MRQ3.192+0.325
MRQ3.192TTM3.1920.000
TTM3.192YOY3.490-0.298
TTM3.1925Y4.161-0.969
5Y4.16110Y3.426+0.735
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD3.5171.337+2.180
MRQ3.1921.491+1.701
TTM3.1921.617+1.575
YOY3.4902.015+1.475
5Y4.1611.986+2.175
10Y3.4262.412+1.014
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Koninklijke KPN NV 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--0.1230.1230%0.158-22%0.015+701%0.029+327%
Book Value Growth--1.1311.1310%1.232-8%1.057+7%1.108+2%
Book Value Per Share--0.9050.9050%0.782+16%0.671+35%0.882+3%
Book Value Per Share Growth--1.1571.1570%1.254-8%1.066+9%1.108+4%
Current Ratio--0.8270.8270%0.841-2%0.799+4%0.847-2%
Debt To Asset Ratio--0.6950.6950%0.746-7%0.775-10%0.764-9%
Debt To Equity Ratio--2.2772.2770%2.945-23%3.733-39%3.425-34%
Dividend Per Share--0.1420.1420%0.137+4%0.131+8%0.104+36%
Dividend Per Share Growth--1.0361.0360%1.079-4%1.033+0%1.440-28%
Eps--0.1880.1880%0.310-39%0.166+13%0.137+37%
Eps Growth--0.6090.6090%2.365-74%1.464-58%1.282-53%
Free Cash Flow Per Share--0.2430.2430%0.220+11%0.199+22%0.211+15%
Free Cash Flow Per Share Growth--1.1071.1070%1.929-43%1.135-2%1.089+2%
Free Cash Flow To Equity Per Share--0.2430.2430%0.046+426%-0.016+106%-0.064+126%
Free Cash Flow To Equity Per Share Growth--5.2635.2630%3.018+74%2.402+119%1.757+200%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max--2.260--------
Intrinsic Value_10Y_min--1.180--------
Intrinsic Value_1Y_max--0.215--------
Intrinsic Value_1Y_min--0.176--------
Intrinsic Value_3Y_max--0.654--------
Intrinsic Value_3Y_min--0.481--------
Intrinsic Value_5Y_max--1.104--------
Intrinsic Value_5Y_min--0.733--------
Net Profit Margin--0.1430.1430%0.244-42%0.131+9%0.099+44%
Operating Margin----0%0.206-100%0.145-100%0.151-100%
Operating Ratio--1.0081.0080%1.030-2%1.050-4%1.090-8%
Pb Ratio3.517+9%3.1923.1920%3.490-9%4.161-23%3.426-7%
Pe Ratio16.899+9%15.33915.3390%8.821+74%21.815-30%26.330-42%
Peg Ratio--25.19725.1970%3.729+576%26.039-3%37.260-32%
Price Per Share3.184+9%2.8902.8900%2.730+6%2.660+9%2.748+5%
Price To Total Gains Ratio12.029+9%10.91810.9180%9.255+18%7.189+52%8.695+26%
Profit Growth--0.5900.5900%2.296-74%1.346-56%1.250-53%
Quick Ratio--0.2220.2220%0.419-47%0.541-59%0.691-68%
Return On Assets--0.0640.0640%0.101-37%0.057+12%0.042+50%
Return On Equity--0.2080.2080%0.399-48%0.244-15%0.178+17%
Revenue Growth--1.0101.0100%0.998+1%0.985+2%0.925+9%
Total Gains Per Share--0.2650.2650%0.295-10%0.146+81%0.133+99%
Total Gains Per Share Growth--0.8970.8970%1.925-53%0.220+308%1.106-19%
Usd Book Value--3913118000.0003913118000.0000%3460945000.000+13%2976198400.000+31%3845184900.000+2%
Usd Book Value Change Per Share--0.1320.1320%0.170-22%0.016+701%0.031+327%
Usd Book Value Per Share--0.9700.9700%0.838+16%0.719+35%0.946+3%
Usd Dividend Per Share--0.1520.1520%0.146+4%0.140+8%0.112+36%
Usd Eps--0.2020.2020%0.332-39%0.178+13%0.147+37%
Usd Free Cash Flow--1052213000.0001052213000.0000%972922000.000+8%883558900.000+19%922240050.000+14%
Usd Free Cash Flow Per Share--0.2610.2610%0.236+11%0.213+22%0.226+15%
Usd Free Cash Flow To Equity Per Share--0.2610.2610%0.050+426%-0.017+106%-0.069+126%
Usd Price Per Share3.412+9%3.0973.0970%2.925+6%2.850+9%2.945+5%
Usd Profit--814340000.000814340000.0000%1380092000.000-41%753478800.000+8%626613200.000+30%
Usd Revenue--5703594500.0005703594500.0000%5647876500.000+1%5833031700.000-2%6773701550.000-16%
Usd Total Gains Per Share--0.2840.2840%0.316-10%0.157+81%0.143+99%
 EOD+2 -3MRQTTM+0 -0YOY+19 -235Y+34 -810Y+33 -9

3.2. Fundamental Score

Let's check the fundamental score of Koninklijke KPN NV based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1516.899
Price to Book Ratio (EOD)Between0-13.517
Net Profit Margin (MRQ)Greater than00.143
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.222
Current Ratio (MRQ)Greater than10.827
Debt to Asset Ratio (MRQ)Less than10.695
Debt to Equity Ratio (MRQ)Less than12.277
Return on Equity (MRQ)Greater than0.150.208
Return on Assets (MRQ)Greater than0.050.064
Total4/10 (40.0%)

3.3. Technical Score

Let's check the technical score of Koninklijke KPN NV based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5035.539
Ma 20Greater thanMa 503.261
Ma 50Greater thanMa 1003.241
Ma 100Greater thanMa 2003.152
OpenGreater thanClose3.189
Total4/5 (80.0%)



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
Long-term Assets Other  9,969,000383,00010,352,000-10,351,0001,00001,000-2,000-1,000



Latest Balance Sheet

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

Summary
Total Assets11,963,000
Total Liabilities8,311,000
Total Stockholder Equity3,650,000
 As reported
Total Liabilities 8,311,000
Total Stockholder Equity+ 3,650,000
Total Assets = 11,963,000

Assets

Total Assets11,963,000
Total Current Assets1,392,000
Long-term Assets1,392,000
Total Current Assets
Cash And Cash Equivalents 399,000
Short-term Investments 128,000
Net Receivables 245,000
Inventory 49,000
Total Current Assets  (as reported)1,392,000
Total Current Assets  (calculated)821,000
+/- 571,000
Long-term Assets
Goodwill 1,439,000
Intangible Assets 1,444,000
Long-term Assets  (as reported)10,571,000
Long-term Assets  (calculated)2,883,000
+/- 7,688,000

Liabilities & Shareholders' Equity

Total Current Liabilities1,683,000
Long-term Liabilities6,628,000
Total Stockholder Equity3,650,000
Total Current Liabilities
Short Long Term Debt 196,000
Accounts payable 591,000
Total Current Liabilities  (as reported)1,683,000
Total Current Liabilities  (calculated)787,000
+/- 896,000
Long-term Liabilities
Long term Debt 5,171,000
Capital Lease Obligations Min Short Term Debt923,000
Long-term Liabilities Other 1,000
Long-term Liabilities  (as reported)6,628,000
Long-term Liabilities  (calculated)6,095,000
+/- 533,000
Total Stockholder Equity
Total Stockholder Equity (as reported)3,650,000
Total Stockholder Equity (calculated)0
+/- 3,650,000
Other
Capital Stock161,000
Common Stock Shares Outstanding 4,033,698
Net Debt 4,968,000
Net Invested Capital 9,017,000
Net Working Capital -291,000



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-312001-12-312000-12-31
> Total Assets 
53,465,000
41,122,000
25,161,000
24,125,000
22,736,000
22,702,000
21,258,000
24,797,000
23,913,000
24,851,000
22,737,000
22,387,000
22,413,000
25,872,000
18,556,000
17,797,000
14,736,000
13,776,000
13,005,000
12,304,000
12,080,000
12,737,000
11,963,000
11,963,00012,737,00012,080,00012,304,00013,005,00013,776,00014,736,00017,797,00018,556,00025,872,00022,413,00022,387,00022,737,00024,851,00023,913,00024,797,00021,258,00022,702,00022,736,00024,125,00025,161,00041,122,00053,465,000
   > Total Current Assets 
0
0
0
0
0
3,964,187
4,037,477
5,979,974
0
0
0
0
0
0
3,393,000
3,024,000
2,134,000
3,335,000
2,185,000
1,954,000
1,611,000
1,868,000
1,392,000
1,392,0001,868,0001,611,0001,954,0002,185,0003,335,0002,134,0003,024,0003,393,0000000005,979,9744,037,4773,964,18700000
       Cash And Cash Equivalents 
3,583,000
7,343,000
2,657,000
1,839,000
1,573,000
1,033,000
803,000
1,148,000
1,199,000
2,690,000
823,000
990,000
1,286,000
3,946,000
1,976,000
1,050,000
1,179,000
535,000
276,000
474,000
597,000
793,000
399,000
399,000793,000597,000474,000276,000535,0001,179,0001,050,0001,976,0003,946,0001,286,000990,000823,0002,690,0001,199,0001,148,000803,0001,033,0001,573,0001,839,0002,657,0007,343,0003,583,000
       Short-term Investments 
1,267,000
25,000
15,000
9,000
0
5,000
4,000
3,000
2,000
2,000
0
0
0
0
300,000
350,000
140,000
1,400,000
499,000
275,000
270,000
314,000
128,000
128,000314,000270,000275,000499,0001,400,000140,000350,000300,00000002,0002,0003,0004,0005,00009,00015,00025,0001,267,000
       Net Receivables 
2,148,000
2,244,000
1,558,000
1,394,000
1,613,000
2,179,000
2,138,000
2,605,000
2,283,000
1,788,000
1,774,000
1,500,000
1,561,000
1,119,000
901,000
646,000
667,000
924,000
783,000
670,000
575,000
616,000
245,000
245,000616,000575,000670,000783,000924,000667,000646,000901,0001,119,0001,561,0001,500,0001,774,0001,788,0002,283,0002,605,0002,138,0002,179,0001,613,0001,394,0001,558,0002,244,0002,148,000
       Inventory 
426,000
343,000
230,000
164,000
248,000
130,000
113,000
150,000
137,000
93,000
153,000
123,000
111,000
60,000
61,000
65,000
47,000
54,000
58,000
54,000
47,000
37,000
49,000
49,00037,00047,00054,00058,00054,00047,00065,00061,00060,000111,000123,000153,00093,000137,000150,000113,000130,000248,000164,000230,000343,000426,000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,602,000
10,449,000
9,969,000
10,352,000
10,469,000
10,869,000
10,571,000
10,571,00010,869,00010,469,00010,352,0009,969,00010,449,00012,602,0000000000000000000
       Property Plant Equipment 
11,876,000
11,136,000
9,861,000
9,119,000
8,806,000
8,338,000
7,965,000
7,866,000
7,736,000
7,523,000
7,514,000
7,533,000
7,895,000
5,340,000
6,606,000
6,001,000
5,969,000
5,811,000
6,473,000
6,279,000
6,279,000
6,267,000
0
06,267,0006,279,0006,279,0006,473,0005,811,0005,969,0006,001,0006,606,0005,340,0007,895,0007,533,0007,514,0007,523,0007,736,0007,866,0007,965,0008,338,0008,806,0009,119,0009,861,00011,136,00011,876,000
       Goodwill 
20,512,000
5,623,000
4,484,000
4,126,000
3,879,000
4,571,000
4,569,000
5,781,000
5,659,000
5,769,000
5,733,000
5,575,000
5,157,000
1,169,000
1,454,000
1,428,000
1,428,000
1,530,000
1,510,000
1,495,000
1,496,000
1,432,000
1,439,000
1,439,0001,432,0001,496,0001,495,0001,510,0001,530,0001,428,0001,428,0001,454,0001,169,0005,157,0005,575,0005,733,0005,769,0005,659,0005,781,0004,569,0004,571,0003,879,0004,126,0004,484,0005,623,00020,512,000
       Long Term Investments 
0
0
0
0
0
195,426
271,982
346,132
0
0
0
0
0
0
2,755,000
2,314,000
1,933,000
41,000
43,000
35,000
0
0
0
00035,00043,00041,0001,933,0002,314,0002,755,000000000346,132271,982195,42600000
       Intangible Assets 
28,279,000
13,581,000
8,903,000
8,583,000
8,227,000
9,401,000
9,051,000
10,424,000
10,060,000
9,832,000
9,755,000
9,212,000
8,458,000
3,643,000
3,992,000
2,022,000
1,822,000
1,811,000
1,659,000
1,500,000
1,742,000
1,573,000
1,444,000
1,444,0001,573,0001,742,0001,500,0001,659,0001,811,0001,822,0002,022,0003,992,0003,643,0008,458,0009,212,0009,755,0009,832,00010,060,00010,424,0009,051,0009,401,0008,227,0008,583,0008,903,00013,581,00028,279,000
       Other Assets 
0
792,000
159,000
1,986,000
1,365,000
1,414,000
1,143,000
2,388,000
2,068,000
2,368,000
2,154,000
2,244,000
2,324,000
1,399,000
1,690,000
2,984,000
1,450,000
1,248,000
1,135,000
1,041,000
907,000
832,000
0
0832,000907,0001,041,0001,135,0001,248,0001,450,0002,984,0001,690,0001,399,0002,324,0002,244,0002,154,0002,368,0002,068,0002,388,0001,143,0001,414,0001,365,0001,986,000159,000792,0000
> Total Liabilities 
35,406,000
28,950,000
20,381,000
16,766,000
15,771,000
17,598,000
17,062,000
20,279,000
20,154,000
21,010,000
19,237,000
19,457,000
19,952,000
20,569,000
13,926,000
12,815,000
11,135,000
10,294,000
11,127,000
9,798,000
9,458,000
9,507,000
8,311,000
8,311,0009,507,0009,458,0009,798,00011,127,00010,294,00011,135,00012,815,00013,926,00020,569,00019,952,00019,457,00019,237,00021,010,00020,154,00020,279,00017,062,00017,598,00015,771,00016,766,00020,381,00028,950,00035,406,000
   > Total Current Liabilities 
8,844,000
9,938,000
6,104,000
4,197,000
4,695,000
5,407,000
3,849,000
6,577,000
5,797,000
5,254,000
5,435,000
5,801,000
5,862,000
6,892,000
3,770,000
3,042,000
2,628,000
1,888,000
2,531,000
2,663,000
2,208,000
2,221,000
1,683,000
1,683,0002,221,0002,208,0002,663,0002,531,0001,888,0002,628,0003,042,0003,770,0006,892,0005,862,0005,801,0005,435,0005,254,0005,797,0006,577,0003,849,0005,407,0004,695,0004,197,0006,104,0009,938,0008,844,000
       Short-term Debt 
0
0
0
0
0
2,400,779
850,273
3,430,384
0
0
0
0
0
0
1,001,000
835,000
735,000
18,000
589,000
937,000
0
0
0
000937,000589,00018,000735,000835,0001,001,0000000003,430,384850,2732,400,77900000
       Short Long Term Debt 
0
0
0
0
0
2,400,779
850,273
3,430,384
0
0
0
0
0
0
1,001,000
835,000
735,000
18,000
589,000
937,000
679,000
677,000
196,000
196,000677,000679,000937,000589,00018,000735,000835,0001,001,0000000003,430,384850,2732,400,77900000
       Accounts payable 
1,044,000
867,000
990,000
970,000
844,000
820,000
734,000
892,000
1,424,000
1,104,000
1,340,000
1,423,000
1,402,000
1,091,000
819,000
774,000
640,000
631,000
573,000
550,000
531,000
515,000
591,000
591,000515,000531,000550,000573,000631,000640,000774,000819,0001,091,0001,402,0001,423,0001,340,0001,104,0001,424,000892,000734,000820,000844,000970,000990,000867,0001,044,000
       Other Current Liabilities 
2,933,000
3,347,000
2,754,000
2,275,000
2,201,000
2,567,000
2,473,000
3,384,000
3,208,000
3,281,000
2,917,000
2,920,000
2,933,000
3,793,000
1,907,000
738,000
313,000
373,000
445,000
334,000
286,000
257,000
0
0257,000286,000334,000445,000373,000313,000738,0001,907,0003,793,0002,933,0002,920,0002,917,0003,281,0003,208,0003,384,0002,473,0002,567,0002,201,0002,275,0002,754,0003,347,0002,933,000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,507,000
8,290,000
7,836,000
7,133,000
7,250,000
7,288,000
6,628,000
6,628,0007,288,0007,250,0007,133,0007,836,0008,290,0008,507,0000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,853,000
0
7,579,000
7,766,000
6,507,000
0
0
0
0006,507,0007,766,0007,579,00008,853,000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
-2,400,779
-850,273
-3,430,384
0
0
0
0
0
0
-1,001,000
-835,000
-735,000
-18,000
-589,000
-7,000
937,000
873,000
923,000
923,000873,000937,000-7,000-589,000-18,000-735,000-835,000-1,001,000000000-3,430,384-850,273-2,400,77900000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,000
-1,000
2,000
1,000
1,0002,000-1,0001,0000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
2,640,028
2,630,038
3,026,810
0
0
0
0
0
0
0
0
0
33,000
32,000
31,000
16,000
15,000
0
015,00016,00031,00032,00033,0000000000003,026,8102,630,0382,640,02800000
> Total Stockholder Equity
16,352,000
11,988,000
4,508,000
7,163,000
6,821,000
5,076,000
4,195,000
4,490,000
3,730,000
3,838,000
3,500,000
2,930,000
2,410,000
5,250,000
4,573,000
4,982,000
3,601,000
3,482,000
1,878,000
2,506,000
2,621,000
3,228,000
3,650,000
3,650,0003,228,0002,621,0002,506,0001,878,0003,482,0003,601,0004,982,0004,573,0005,250,0002,410,0002,930,0003,500,0003,838,0003,730,0004,490,0004,195,0005,076,0006,821,0007,163,0004,508,00011,988,00016,352,000
   Common Stock
289,000
541,000
598,000
598,000
559,000
517,000
463,000
443,000
411,000
391,000
377,000
344,000
344,000
1,025,000
171,000
171,000
171,000
168,000
168,000
168,000
168,000
168,000
0
0168,000168,000168,000168,000168,000171,000171,000171,0001,025,000344,000344,000377,000391,000411,000443,000463,000517,000559,000598,000598,000541,000289,000
   Retained Earnings Total Equity00000000000000000000000
   Accumulated Other Comprehensive Income 00000000000000000000000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,847,000
0
8,445,000
8,445,000
8,445,000
0
0
0
0008,445,0008,445,0008,445,00009,847,000000000000000000
   Treasury Stock000-79,000-83,000-103,000-115,000-132,000-138,000-138,000-138,000-139,000-646,000-289,000-238,000-594,000-119,000000000
   Other Stockholders Equity 
0
0
0
0
0
-329,263
496,433
-895,523
0
0
0
0
0
0
839,000
837,000
753,000
786,000
-315,000
275,000
362,000
386,000
0
0386,000362,000275,000-315,000786,000753,000837,000839,000000000-895,523496,433-329,26300000



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.