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Orange Belgium SA
Buy, Hold or Sell?

Should you buy, hold or sell Orange?

I guess you are interested in Orange Belgium SA. 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 Orange

Let's start. I'm going to help you getting a better view of Orange Belgium SA. 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 Orange Belgium SA 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 Orange Belgium SA is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Orange Belgium SA. The closing price on 2023-02-03 was €16.76 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.
Orange Belgium SA Daily Candlestick Chart
Orange Belgium SA Daily Candlestick Chart
Summary









1. Valuation of Orange




Current price per share

€16.76

2. Growth of Orange




Is Orange growing?

Current yearPrevious yearGrowGrow %
How rich?$673.5m$662.4m$11m1.6%

How much money is Orange making?

Current yearPrevious yearGrowGrow %
Making money$42.8m$58.2m-$15.3m-35.9%
Net Profit Margin2.9%4.1%--

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

3. Financial Health of Orange




Comparing to competitors in the Telecom Services industry




  Industry Rankings (Telecom Services)  


Richest
#177 / 277

Most Revenue
#132 / 277

Most Profit
#142 / 277

Most Efficient
#168 / 277


Summary

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 less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is unable 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 Orange Belgium SA.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Orange to the Telecom Services industry mean.
  • A Net Profit Margin of 2.9% means that €0.03 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Orange Belgium SA:

  • The MRQ is 2.9%. The company is making a profit. +1
  • The TTM is 2.9%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ2.9%TTM2.9%0.0%
TTM2.9%YOY4.1%-1.2%
TTM2.9%5Y3.1%-0.2%
5Y3.1%10Y4.8%-1.8%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.9%6.7%-3.8%
TTM2.9%6.1%-3.2%
YOY4.1%5.6%-1.5%
5Y3.1%5.2%-2.1%
10Y4.8%5.7%-0.9%
1.1.2. Return on Assets

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

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

Let's take a look of the Return on Assets trends of Orange Belgium SA:

  • 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%YOY3.1%-0.7%
TTM2.4%5Y2.5%-0.1%
5Y2.5%10Y4.5%-2.0%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.4%0.9%+1.5%
TTM2.4%1.0%+1.4%
YOY3.1%0.9%+2.2%
5Y2.5%0.8%+1.7%
10Y4.5%0.9%+3.6%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Orange to the Telecom Services industry mean.
  • 6.4% Return on Equity means Orange generated €0.06 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Orange Belgium SA:

  • The MRQ is 6.4%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 6.4%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ6.4%TTM6.4%0.0%
TTM6.4%YOY8.8%-2.4%
TTM6.4%5Y6.8%-0.4%
5Y6.8%10Y15.4%-8.6%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ6.4%2.4%+4.0%
TTM6.4%2.7%+3.7%
YOY8.8%2.7%+6.1%
5Y6.8%2.3%+4.5%
10Y15.4%2.4%+13.0%

1.2. Operating Efficiency of Orange Belgium SA.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Orange is operating .

  • Measures how much profit Orange 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 Orange to the Telecom Services industry mean.
  • An Operating Margin of 4.1% means the company generated €0.04  for each €1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Orange Belgium SA:

  • The MRQ is 4.1%. The company is operating less efficient.
  • The TTM is 4.1%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ4.1%TTM4.1%0.0%
TTM4.1%YOY5.3%-1.2%
TTM4.1%5Y4.3%-0.2%
5Y4.3%10Y7.0%-2.7%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ4.1%11.8%-7.7%
TTM4.1%10.4%-6.3%
YOY5.3%10.3%-5.0%
5Y4.3%10.9%-6.6%
10Y7.0%9.2%-2.2%
1.2.2. Operating Ratio

Measures how efficient Orange is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Telecom Services industry mean).
  • An Operation Ratio of 0.94 means that the operating costs are €0.94 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of Orange Belgium SA:

  • The MRQ is 0.944. The company is less efficient in keeping operating costs low.
  • The TTM is 0.944. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.944TTM0.9440.000
TTM0.944YOY0.943+0.002
TTM0.9445Y0.949-0.005
5Y0.94910Y0.920+0.029
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9441.132-0.188
TTM0.9441.063-0.119
YOY0.9431.027-0.084
5Y0.9491.008-0.059
10Y0.9200.955-0.035

1.3. Liquidity of Orange Belgium SA.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Orange 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 0.61 means the company has €0.61 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of Orange Belgium SA:

  • The MRQ is 0.614. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.614. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.614TTM0.6140.000
TTM0.614YOY0.476+0.138
TTM0.6145Y0.552+0.062
5Y0.55210Y0.511+0.042
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6140.931-0.317
TTM0.6140.958-0.344
YOY0.4760.956-0.480
5Y0.5521.009-0.457
10Y0.5110.907-0.396
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Orange to the Telecom Services industry mean.
  • A Quick Ratio of 0.53 means the company can pay off €0.53 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Orange Belgium SA:

  • The MRQ is 0.531. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.531. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.531TTM0.5310.000
TTM0.531YOY0.410+0.121
TTM0.5315Y0.485+0.046
5Y0.48510Y0.441+0.044
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5310.581-0.050
TTM0.5310.574-0.043
YOY0.4100.609-0.199
5Y0.4850.617-0.132
10Y0.4410.580-0.139

1.4. Solvency of Orange Belgium SA.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Orange to Telecom Services industry mean.
  • A Debt to Asset Ratio of 0.62 means that Orange assets are financed with 62.4% credit (debt) and the remaining percentage (100% - 62.4%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Orange Belgium SA:

  • The MRQ is 0.624. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.624. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.624TTM0.6240.000
TTM0.624YOY0.650-0.026
TTM0.6245Y0.633-0.009
5Y0.63310Y0.675-0.042
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6240.648-0.024
TTM0.6240.637-0.013
YOY0.6500.651-0.001
5Y0.6330.648-0.015
10Y0.6750.646+0.029
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Orange to the Telecom Services industry mean.
  • A Debt to Equity ratio of 165.9% means that company has €1.66 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Orange Belgium SA:

  • The MRQ is 1.659. The company is just able to pay all its debts with equity.
  • The TTM is 1.659. The company is just able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ1.659TTM1.6590.000
TTM1.659YOY1.854-0.195
TTM1.6595Y1.738-0.079
5Y1.73810Y2.173-0.435
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6591.727-0.068
TTM1.6591.738-0.079
YOY1.8541.788+0.066
5Y1.7381.724+0.014
10Y2.1731.688+0.485

2. Market Valuation of Orange Belgium SA

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Orange to the Telecom Services industry mean.
  • A PE ratio of 40.01 means the investor is paying €40.01 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Orange Belgium SA:

  • The EOD is 33.698. Good. +1
  • The MRQ is 40.011. Good. +1
  • The TTM is 40.011. Good. +1
Trends
Current periodCompared to+/- 
EOD33.698MRQ40.011-6.313
MRQ40.011TTM40.0110.000
TTM40.011YOY24.209+15.802
TTM40.0115Y32.031+7.980
5Y32.03110Y23.613+8.418
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD33.69831.705+1.993
MRQ40.01140.665-0.654
TTM40.01149.123-9.112
YOY24.20935.861-11.652
5Y32.03144.486-12.455
10Y23.61336.256-12.643
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Orange.

  • 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 Orange Belgium SA:

  • The MRQ is 72.442. Seems overpriced? -1
  • The TTM is 72.442. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ72.442TTM72.4420.000
TTM72.442YOY14.973+57.469
TTM72.4425Y42.925+29.517
5Y42.92510Y32.254+10.671
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ72.4420.058+72.384
TTM72.4420.013+72.429
YOY14.9730.175+14.798
5Y42.9250.113+42.812
10Y32.2540.170+32.084

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

Measures if the stock price of Orange 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 2.55 means the investor is paying €2.55 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of Orange Belgium SA:

  • The EOD is 2.145. Good. +1
  • The MRQ is 2.546. Good. +1
  • The TTM is 2.546. Good. +1
Trends
Current periodCompared to+/- 
EOD2.145MRQ2.546-0.402
MRQ2.546TTM2.5460.000
TTM2.546YOY2.129+0.418
TTM2.5465Y2.093+0.453
5Y2.09310Y2.444-0.350
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD2.1451.496+0.649
MRQ2.5461.745+0.801
TTM2.5461.922+0.624
YOY2.1291.783+0.346
5Y2.0931.701+0.392
10Y2.4441.517+0.927
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Orange Belgium SA 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---2.427-2.4270%0.369-758%-0.211-91%0.125-2041%
Book Value Growth--1.0171.0170%1.037-2%1.033-2%1.051-3%
Book Value Per Share--7.8157.8150%10.242-24%9.353-16%8.117-4%
Book Value Per Share Growth--0.7630.7630%1.037-26%0.982-22%1.026-26%
Current Ratio--0.6140.6140%0.476+29%0.552+11%0.511+20%
Debt To Asset Ratio--0.6240.6240%0.650-4%0.633-1%0.675-8%
Debt To Equity Ratio--1.6591.6590%1.854-11%1.738-5%2.173-24%
Dividend Per Share--0.3760.3760%0.501-25%0.476-21%0.789-52%
Dividend Per Share Growth--0.7510.7510%1.000-25%401.548-100%201.018-100%
Eps--0.4970.4970%0.900-45%0.629-21%1.097-55%
Eps Growth--0.5520.5520%1.617-66%0.908-39%0.912-39%
Free Cash Flow Per Share--1.7781.7780%2.781-36%1.978-10%1.516+17%
Free Cash Flow Per Share Growth--0.6390.6390%1.047-39%1.054-39%1.199-47%
Free Cash Flow To Equity Per Share---0.271-0.2710%0.639-142%0.174-256%0.174-256%
Free Cash Flow To Equity Per Share Growth---0.424-0.4240%1.326-132%1.061-140%-7.569+1685%
Gross Profit Margin--1.0001.0000%1.0000%0.251+298%0.154+549%
Intrinsic Value_10Y_max--24.878--------
Intrinsic Value_10Y_min--0.943--------
Intrinsic Value_1Y_max--2.429--------
Intrinsic Value_1Y_min--1.367--------
Intrinsic Value_3Y_max--7.348--------
Intrinsic Value_3Y_min--3.030--------
Intrinsic Value_5Y_max--12.325--------
Intrinsic Value_5Y_min--3.498--------
Net Profit Margin--0.0290.0290%0.041-29%0.031-5%0.048-40%
Operating Margin--0.0410.0410%0.053-23%0.043-4%0.070-41%
Operating Ratio--0.9440.9440%0.943+0%0.949-1%0.920+3%
Pb Ratio2.145-19%2.5462.5460%2.129+20%2.093+22%2.444+4%
Pe Ratio33.698-19%40.01140.0110%24.209+65%32.031+25%23.613+69%
Peg Ratio--72.44272.4420%14.973+384%42.925+69%32.254+125%
Price Per Share16.760-19%19.90019.9000%21.800-9%19.428+2%19.212+4%
Price To Total Gains Ratio-8.172+16%-9.703-9.7030%25.076-139%18.196-153%16.715-158%
Profit Growth--0.7360.7360%1.589-54%0.940-22%0.927-21%
Quick Ratio--0.5310.5310%0.410+30%0.485+9%0.441+20%
Return On Assets--0.0240.0240%0.031-22%0.025-4%0.045-47%
Return On Equity--0.0640.0640%0.088-28%0.068-6%0.154-59%
Revenue Growth--1.0371.0370%0.981+6%1.019+2%0.983+6%
Total Gains Per Share---2.051-2.0510%0.869-336%0.264-876%0.914-324%
Total Gains Per Share Growth---2.359-2.3590%1.503-257%0.401-688%0.657-459%
Usd Book Value--673526739.600673526739.6000%662486467.500+2%638684542.980+5%542172536.730+24%
Usd Book Value Change Per Share---2.619-2.6190%0.398-758%-0.228-91%0.135-2041%
Usd Book Value Per Share--8.4338.4330%11.052-24%10.093-16%8.759-4%
Usd Dividend Per Share--0.4050.4050%0.540-25%0.513-21%0.851-52%
Usd Eps--0.5370.5370%0.972-45%0.679-21%1.184-55%
Usd Free Cash Flow--153200906.100153200906.1000%179885970.000-15%135619777.260+13%101939987.160+50%
Usd Free Cash Flow Per Share--1.9181.9180%3.001-36%2.135-10%1.636+17%
Usd Free Cash Flow To Equity Per Share---0.292-0.2920%0.690-142%0.187-256%0.187-256%
Usd Price Per Share18.086-19%21.47421.4740%23.524-9%20.965+2%20.732+4%
Usd Profit--42865089.30042865089.3000%58249818.000-26%43393416.660-1%72368654.490-41%
Usd Revenue--1471322635.2001471322635.2000%1418874058.800+4%1413660926.700+4%1444710194.730+2%
Usd Total Gains Per Share---2.213-2.2130%0.938-336%0.285-876%0.986-324%
 EOD+4 -1MRQTTM+0 -0YOY+8 -345Y+11 -3210Y+13 -30

3.2. Fundamental Score

Let's check the fundamental score of Orange Belgium SA based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1533.698
Price to Book Ratio (EOD)Between0-12.145
Net Profit Margin (MRQ)Greater than00.029
Operating Margin (MRQ)Greater than00.041
Quick Ratio (MRQ)Greater than10.531
Current Ratio (MRQ)Greater than10.614
Debt to Asset Ratio (MRQ)Less than10.624
Debt to Equity Ratio (MRQ)Less than11.659
Return on Equity (MRQ)Greater than0.150.064
Return on Assets (MRQ)Greater than0.050.024
Total3/10 (30.0%)

3.3. Technical Score

Let's check the technical score of Orange Belgium SA based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5059.550
Ma 20Greater thanMa 5016.214
Ma 50Greater thanMa 10016.654
Ma 100Greater thanMa 20017.132
OpenGreater thanClose16.840
Total2/5 (40.0%)



Latest Balance Sheet

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

Summary
Total Assets1,659,672
Total Liabilities1,035,516
Total Stockholder Equity624,156
 As reported
Total Liabilities 1,035,516
Total Stockholder Equity+ 624,156
Total Assets = 1,659,672

Assets

Total Assets1,659,672
Total Current Assets350,347
Long-term Assets350,347
Total Current Assets
Cash And Cash Equivalents 53,735
Short-term Investments 417
Net Receivables 248,292
Inventory 24,024
Total Current Assets  (as reported)350,347
Total Current Assets  (calculated)326,468
+/- 23,879
Long-term Assets
Property Plant Equipment 961,934
Goodwill 89,474
Intangible Assets 247,439
Other Assets 2,499
Long-term Assets  (as reported)1,309,327
Long-term Assets  (calculated)1,301,346
+/- 7,981

Liabilities & Shareholders' Equity

Total Current Liabilities570,590
Long-term Liabilities464,926
Total Stockholder Equity624,156
Total Current Liabilities
Short-term Debt 46,130
Short Long Term Debt 1,461
Accounts payable 258,822
Other Current Liabilities 179,494
Total Current Liabilities  (as reported)570,590
Total Current Liabilities  (calculated)485,907
+/- 84,683
Long-term Liabilities
Long term Debt 121,809
Capital Lease Obligations Min Short Term Debt253,790
Other Liabilities 87,866
Long-term Liabilities Other 2,579
Long-term Liabilities  (as reported)464,926
Long-term Liabilities  (calculated)466,044
+/- 1,118
Total Stockholder Equity
Common Stock131,721
Retained Earnings 479,263
Other Stockholders Equity 13,172
Total Stockholder Equity (as reported)624,156
Total Stockholder Equity (calculated)624,156
+/-0
Other
Capital Stock131,721
Cash and Short Term Investments 54,152
Common Stock Shares Outstanding 79,867
Liabilities and Stockholders Equity 1,659,672
Net Debt 369,455
Net Invested Capital 747,426
Net Tangible Assets 287,243
Net Working Capital -220,243
Short Long Term Debt Total 423,190



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-312001-12-312000-12-31
> Total Assets 
33,698,615
47,086,212
1,043,280
972,669
1,125,575
1,119,992
1,117,773
1,181,328
1,200,281
1,153,073
1,303,184
1,381,503
1,346,995
1,449,891
1,443,909
1,517,352
1,524,217
1,436,258
1,463,166
1,797,625
1,751,994
1,659,672
1,659,6721,751,9941,797,6251,463,1661,436,2581,524,2171,517,3521,443,9091,449,8911,346,9951,381,5031,303,1841,153,0731,200,2811,181,3281,117,7731,119,9921,125,575972,6691,043,28047,086,21233,698,615
   > Total Current Assets 
0
0
197,324
165,243
310,097
278,489
289,935
256,977
302,370
270,630
283,196
311,178
301,226
278,755
243,446
236,871
275,113
238,359
326,920
363,777
374,703
350,347
350,347374,703363,777326,920238,359275,113236,871243,446278,755301,226311,178283,196270,630302,370256,977289,935278,489310,097165,243197,32400
       Cash And Cash Equivalents 
430,832
173,981
1,022
1,307
106,762
54,574
68,031
7,255
6,833
10,009
12,959
7,119
12,266
13,781
7,603
9,709
51,444
13,012
26,591
20,175
60,816
53,735
53,73560,81620,17526,59113,01251,4449,7097,60313,78112,2667,11912,95910,0096,8337,25568,03154,574106,7621,3071,022173,981430,832
       Short-term Investments 
29,614
2,033,131
27,500
16,500
105,504
0
0
0
0
0
0
0
0
0
6,261
1,113
452
469
362
362
361
417
4173613623624694521,1136,261000000000105,50416,50027,5002,033,13129,614
       Net Receivables 
7,051,917
9,018,327
140,094
117,600
156,583
201,951
201,747
221,624
267,888
235,237
236,234
262,515
249,207
215,100
206,727
184,366
176,329
236,356
242,649
278,433
261,062
248,292
248,292261,062278,433242,649236,356176,329184,366206,727215,100249,207262,515236,234235,237267,888221,624201,747201,951156,583117,600140,0949,018,3277,051,917
       Other Current Assets 
627,951
601,525
184,327
154,191
185,338
218,072
214,912
235,779
283,217
250,548
259,938
287,558
268,366
244,308
217,647
204,576
192,585
199,948
272,257
311,283
286,841
272,171
272,171286,841311,283272,257199,948192,585204,576217,647244,308268,366287,558259,938250,548283,217235,779214,912218,072185,338154,191184,327601,525627,951
   > Long-term Assets 
0
0
845,956
807,426
815,478
841,503
827,838
924,351
897,911
882,443
1,019,988
1,070,325
1,045,769
1,171,136
1,200,463
1,280,481
1,249,104
1,197,899
1,136,246
1,433,848
1,377,291
1,309,327
1,309,3271,377,2911,433,8481,136,2461,197,8991,249,1041,280,4811,200,4631,171,1361,045,7691,070,3251,019,988882,443897,911924,351827,838841,503815,478807,426845,95600
       Property Plant Equipment 
15,253,230
18,122,537
864,274
811,036
418,060
464,966
491,175
521,764
529,526
548,914
635,927
666,000
665,011
700,017
761,294
840,389
829,971
809,934
772,306
1,044,867
1,011,394
961,934
961,9341,011,3941,044,867772,306809,934829,971840,389761,294700,017665,011666,000635,927548,914529,526521,764491,175464,966418,060811,036864,27418,122,53715,253,230
       Goodwill 
0
546,890
12,016
10,594
10,594
10,558
10,558
81,532
79,287
79,287
80,131
80,080
80,080
80,080
80,080
80,080
80,080
66,438
67,041
118,674
104,411
89,474
89,474104,411118,67467,04166,43880,08080,08080,08080,08080,08080,08080,13179,28779,28781,53210,55810,55810,59410,59412,016546,8900
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
3,333
3,839
3,978
5,746
5,563
6,897
8,400
0
0
008,4006,8975,5635,7463,9783,8393,3330000000000000
       Intangible Assets 
9,076,264
16,102,400
394,222
384,763
377,370
358,696
325,297
308,708
273,050
235,488
294,779
312,026
286,595
380,200
345,204
347,391
320,789
303,971
285,262
258,630
249,978
247,439
247,439249,978258,630285,262303,971320,789347,391345,204380,200286,595312,026294,779235,488273,050308,708325,297358,696377,370384,763394,22216,102,4009,076,264
       Long-term Assets Other 
0
0
-412,540
-388,373
173
197
195
6,403
11,182
11,451
7,501
5,818
7,414
4,124
5,056
1,367
707
1,198
1,772
1,011
988
1,118
1,1189881,0111,7721,1987071,3675,0564,1247,4145,8187,50111,45111,1826,403195197173-388,373-412,54000
> Total Liabilities 
33,882,016
48,457,381
1,043,280
972,669
562,630
403,788
353,998
413,296
747,798
712,246
872,014
987,531
989,196
1,112,713
1,063,447
1,060,245
991,799
894,234
876,027
1,205,530
1,138,069
1,035,516
1,035,5161,138,0691,205,530876,027894,234991,7991,060,2451,063,4471,112,713989,196987,531872,014712,246747,798413,296353,998403,788562,630972,6691,043,28048,457,38133,882,016
   > Total Current Liabilities 
10,857,499
15,085,814
317,797
307,588
303,880
392,792
340,019
398,685
656,014
697,605
540,646
603,240
524,723
493,017
896,024
576,182
526,417
500,186
529,993
629,641
787,330
570,590
570,590787,330629,641529,993500,186526,417576,182896,024493,017524,723603,240540,646697,605656,014398,685340,019392,792303,880307,588317,79715,085,81410,857,499
       Short-term Debt 
0
0
0
0
7,011
2,383
2,445
6,103
243,275
297,936
32,893
18,444
22,580
21,879
450,000
8,165
236
6,066
20,826
61,115
246,749
46,130
46,130246,74961,11520,8266,0662368,165450,00021,87922,58018,44432,893297,936243,2756,1032,4452,3837,0110000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
570,629
449,489
8,165
236
6,066
20,826
9,333
202,100
1,461
1,461202,1009,33320,8266,0662368,165449,489570,6290000000000000
       Accounts payable 
5,422,466
8,091,188
130,017
142,731
197,113
274,016
240,685
279,982
288,313
266,385
310,943
347,635
344,563
352,088
325,307
169,815
167,695
212,562
266,575
313,995
296,525
258,822
258,822296,525313,995266,575212,562167,695169,815325,307352,088344,563347,635310,943266,385288,313279,982240,685274,016197,113142,731130,0178,091,1885,422,466
       Other Current Liabilities 
2,360,033
3,395,789
99,032
104,857
99,756
116,393
96,889
112,600
124,426
133,284
196,810
237,161
157,580
119,050
120,717
398,202
358,722
281,558
153,851
172,337
162,075
179,494
179,494162,075172,337153,851281,558358,722398,202120,717119,050157,580237,161196,810133,284124,426112,60096,889116,39399,756104,85799,0323,395,7892,360,033
   > Long-term Liabilities 
0
0
414,430
234,397
258,750
10,996
13,979
14,611
91,784
14,641
331,368
384,291
464,473
619,696
167,423
484,063
465,382
394,048
346,034
575,889
350,739
464,926
464,926350,739575,889346,034394,048465,382484,063167,423619,696464,473384,291331,36814,64191,78414,61113,97910,996258,750234,397414,43000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
409,007
389,043
319,615
269,895
489,600
0
0
00489,600269,895319,615389,043409,007000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
-7,011
-2,383
-2,445
-6,103
-243,275
-297,936
-32,893
-18,444
-22,580
-21,879
-450,000
-8,165
-236
-6,066
-20,826
235,114
57,251
253,790
253,79057,251235,114-20,826-6,066-236-8,165-450,000-21,879-22,580-18,444-32,893-297,936-243,275-6,103-2,445-2,383-7,0110000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,759
2,820
1,866
2,610
2,300
2,579
2,5792,3002,6101,8662,8203,7590000000000000000
> Total Stockholder Equity
0
0
68,458
295,853
562,945
716,204
763,775
768,032
452,483
440,827
431,170
393,972
357,799
337,178
380,462
457,107
532,418
542,024
587,139
592,095
613,925
624,156
624,156613,925592,095587,139542,024532,418457,107380,462337,178357,799393,972431,170440,827452,483768,032763,775716,204562,945295,85368,45800
   Retained Earnings 
0
0
0
0
108,074
238,397
371,617
375,140
307,589
295,933
286,276
249,078
212,905
192,284
235,529
312,214
387,804
399,607
442,246
447,399
470,551
479,263
479,263470,551447,399442,246399,607387,804312,214235,529192,284212,905249,078286,276295,933307,589375,140371,617238,397108,0740000
   Accumulated Other Comprehensive Income 00-1,525,455-1,408,616-1,271,651-1,156,522-1,110,372-1,011,990-794,284-825,335-813,654-786,413-724,360000000000
   Capital Surplus 0000000000000000000000
   Treasury Stock00-2000-2,476-2790000000000-1,04500000



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.