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Proximus NV
Buy, Hold or Sell?

Let's analyze Proximus together

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

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

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1. Quick Overview

1.1. Quick analysis of Proximus (30 sec.)










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

How much money do you get?

How much money do you get?
€1.24
When do you have the money?
1 year
How often do you get paid?
90.0%

What is your share worth?

Current worth
€11.74
Expected worth in 1 year
€12.99
How sure are you?
97.5%

+ What do you gain per year?

Total Gains per Share
€2.45
Return On Investment
46.2%

For what price can you sell your share?

Current Price per Share
€5.30
Expected price per share
€4.764 - €5.91
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Proximus (5 min.)




Live pricePrice per Share (EOD)
€5.30
Intrinsic Value Per Share
€2.06 - €13.55
Total Value Per Share
€13.80 - €25.29

2.2. Growth of Proximus (5 min.)




Is Proximus growing?

Current yearPrevious yearGrowGrow %
How rich?$3.9b$3.4b$191.3m5.3%

How much money is Proximus making?

Current yearPrevious yearGrowGrow %
Making money$119.2m$89.8m$29.3m24.6%
Net Profit Margin7.4%5.8%--

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

2.3. Financial Health of Proximus (5 min.)




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




  Industry Rankings (Telecom Services)  


Richest
#57 / 240

Most Revenue
#58 / 240

Most Profit
#56 / 240
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3. Summary and Key Metrics

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

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

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

Speculation

The Price per Share of Proximus is €5.3. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Proximus.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Proximus, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is €11.74. Based on the TTM, the Book Value Change Per Share is €0.31 per quarter. Based on the YOY, the Book Value Change Per Share is €-0.02 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is €0.30 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Proximus.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps0.5811.0%0.377.0%0.285.2%0.346.5%0.377.1%
Usd Book Value Change Per Share0.6612.5%0.326.1%-0.02-0.4%0.091.7%0.051.0%
Usd Dividend Per Share0.000.0%0.315.8%0.315.8%0.529.8%0.5510.3%
Usd Total Gains Per Share0.6612.5%0.6311.9%0.295.5%0.6111.5%0.6011.3%
Usd Price Per Share7.21-7.84-8.35-13.90-21.16-
Price to Earnings Ratio3.10-5.85-7.58-5.11-11.65-
Price-to-Total Gains Ratio10.87-18.52-31.74-20.49-51.86-
Price to Book Ratio0.60-0.70-0.78-1.40-2.16-
Price-to-Total Gains Ratio10.87-18.52-31.74-20.49-51.86-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share5.45953
Number of shares183
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.310.52
Usd Book Value Change Per Share0.320.09
Usd Total Gains Per Share0.630.61
Gains per Quarter (183 shares)115.37111.65
Gains per Year (183 shares)461.47446.59
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
122623545138166437
2452471912762131884
3678706137311431971331
4904941183415242631778
511311177229519053282225
613571412275622863942672
715831647321726674593119
818091883367830485253566
920352118413934295914013
1022612354460038096564460

How sure are you?

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

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%19.01.00.095.0%39.01.00.097.5%76.01.01.097.4%
Book Value Change Per Share3.01.00.075.0%9.03.00.075.0%12.08.00.060.0%23.017.00.057.5%46.031.01.059.0%
Dividend per Share2.00.02.050.0%8.00.04.066.7%16.00.04.080.0%36.00.04.090.0%67.00.011.085.9%
Total Gains per Share4.00.00.0100.0%12.00.00.0100.0%19.01.00.095.0%39.01.00.097.5%75.02.01.096.2%
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3.2. Key Performance Indicators

The key performance indicators of Proximus 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--0.6440.312+106%-0.019+103%0.087+640%0.053+1108%
Book Value Per Share--11.73710.910+8%10.334+14%9.935+18%9.696+21%
Current Ratio--0.7680.809-5%0.662+16%0.718+7%0.760+1%
Debt To Asset Ratio--0.7060.7070%0.686+3%0.678+4%0.660+7%
Debt To Equity Ratio--2.5232.465+2%2.182+16%2.146+18%2.020+25%
Dividend Per Share---0.300-100%0.300-100%0.505-100%0.529-100%
Enterprise Value---6523509269.000-5394598869.250-17%-4414777728.000-32%-2094639950.782-68%905318303.959-821%
Eps--0.5640.359+57%0.270+109%0.334+69%0.364+55%
Ev To Ebitda Ratio---2.746-2.678-2%-2.499-9%-1.040-62%0.618-544%
Ev To Sales Ratio---1.004-0.864-14%-0.734-27%-0.341-66%0.165-707%
Free Cash Flow Per Share--0.5950.151+294%0.153+290%0.223+167%0.307+94%
Free Cash Flow To Equity Per Share--0.7560.628+20%0.053+1314%0.136+456%0.049+1449%
Gross Profit Margin--1.0000.708+41%0.682+47%0.936+7%0.905+11%
Intrinsic Value_10Y_max--13.549--------
Intrinsic Value_10Y_min--2.065--------
Intrinsic Value_1Y_max--1.248--------
Intrinsic Value_1Y_min--0.486--------
Intrinsic Value_3Y_max--3.832--------
Intrinsic Value_3Y_min--1.227--------
Intrinsic Value_5Y_max--6.519--------
Intrinsic Value_5Y_min--1.707--------
Market Cap1709907200.000-32%2258490731.0002456651130.750-8%2614222272.000-14%4354260049.218-48%6629768303.959-66%
Net Profit Margin--0.1120.074+52%0.058+93%0.075+49%0.081+38%
Operating Margin--0.1690.123+37%0.096+75%0.114+48%0.126+34%
Operating Ratio--0.8290.882-6%0.904-8%0.888-7%0.875-5%
Pb Ratio0.452-32%0.5960.702-15%0.784-24%1.397-57%2.163-72%
Pe Ratio2.349-32%3.1025.848-47%7.576-59%5.113-39%11.651-73%
Price Per Share5.300-32%7.0007.615-8%8.103-14%13.491-48%20.541-66%
Price To Free Cash Flow Ratio2.227-32%2.94116.091-82%6.621-56%-5.356+282%31.216-91%
Price To Total Gains Ratio8.229-32%10.86818.516-41%31.745-66%20.493-47%51.860-79%
Quick Ratio--0.4820.580-17%0.413+17%0.532-9%0.608-21%
Return On Assets--0.0140.010+48%0.008+72%0.011+29%0.013+10%
Return On Equity--0.0510.033+51%0.026+93%0.034+47%0.039+29%
Total Gains Per Share--0.6440.612+5%0.281+130%0.592+9%0.583+11%
Usd Book Value--3900988700.0003625694475.000+8%3434353400.000+14%3302397590.000+18%3223388920.000+21%
Usd Book Value Change Per Share--0.6630.322+106%-0.020+103%0.090+640%0.055+1108%
Usd Book Value Per Share--12.09111.238+8%10.645+14%10.234+18%9.988+21%
Usd Dividend Per Share---0.309-100%0.309-100%0.520-100%0.545-100%
Usd Enterprise Value---6719866897.997-5556976295.214-17%-4547662537.613-32%-2157688613.301-68%932568384.909-821%
Usd Eps--0.5810.370+57%0.278+109%0.344+69%0.374+55%
Usd Free Cash Flow--197779200.00050217375.000+294%50732425.000+290%74167200.000+167%101979900.000+94%
Usd Free Cash Flow Per Share--0.6130.156+294%0.157+290%0.230+167%0.316+94%
Usd Free Cash Flow To Equity Per Share--0.7790.647+20%0.055+1314%0.140+456%0.050+1449%
Usd Market Cap1761375406.720-32%2326471302.0032530596329.786-8%2692910362.387-14%4485323276.699-48%6829324329.909-66%
Usd Price Per Share5.460-32%7.2117.844-8%8.347-14%13.897-48%21.160-66%
Usd Profit--187478200.000119234075.000+57%89876225.000+109%111199295.000+69%120882235.000+55%
Usd Revenue--1672882400.0001602578075.000+4%1550300500.000+8%1491996840.000+12%1492228612.500+12%
Usd Total Gains Per Share--0.6630.630+5%0.289+130%0.610+9%0.600+11%
 EOD+4 -4MRQTTM+27 -13YOY+28 -125Y+26 -1410Y+27 -13

3.3 Fundamental Score

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

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-152.349
Price to Book Ratio (EOD)Between0-10.452
Net Profit Margin (MRQ)Greater than00.112
Operating Margin (MRQ)Greater than00.169
Quick Ratio (MRQ)Greater than10.482
Current Ratio (MRQ)Greater than10.768
Debt to Asset Ratio (MRQ)Less than10.706
Debt to Equity Ratio (MRQ)Less than12.523
Return on Equity (MRQ)Greater than0.150.051
Return on Assets (MRQ)Greater than0.050.014
Total5/10 (50.0%)

3.4 Technical Score

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

Penke's Symbol Scanner

  
  
IndicatorConditionValue
OpenGreater thanClose5.170
Total0/1 (0.0%)

4. In-depth Analysis

4.1 About Proximus NV

Proximus PLC provides digital services and communication solutions in Belgium and internationally. It operates through Domestic, International Carrier Services, and TeleSign segments. The company offers fixed and mobile telephony, internet, and television services to residential customers and small businesses, and ICT services to residential, business, and telecom wholesale markets. It also provides managed and platform, integrating networking, cloud, cybersecurity, business application, and data and artificial intelligence services. In addition, the company offers international delivery authentication and digital identity services to internet brands, digital champions, and cloud native businesses. It offers its products and services under Proximus, Scarlet, Mobile Vikings, Tango, Telindus, and Telindus Netherlands brands. The company was formerly known as Belgacom SA and changed its name to Proximus PLC in June 2015. The company was founded in 1930 and is headquartered in Brussels, Belgium.

Fundamental data was last updated by Penke on 2025-02-05 08:29:04.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is less efficient 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.

4.2.2. Valuation Summary

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

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Proximus to the Telecom Services industry mean.
  • A Net Profit Margin of 11.2% means that €0.11 for each €1 in revenue is generated as profit.

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

  • The MRQ is 11.2%. The company is making a huge profit. +2
  • The TTM is 7.4%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ11.2%TTM7.4%+3.8%
TTM7.4%YOY5.8%+1.6%
TTM7.4%5Y7.5%-0.1%
5Y7.5%10Y8.1%-0.6%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ11.2%5.5%+5.7%
TTM7.4%5.5%+1.9%
YOY5.8%4.8%+1.0%
5Y7.5%5.9%+1.6%
10Y8.1%5.4%+2.7%
4.3.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Proximus to the Telecom Services industry mean.
  • 1.4% Return on Assets means that Proximus generated €0.01 profit for each $1 in assets.

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

  • The MRQ is 1.4%. Using its assets, the company is less efficient in making profit.
  • The TTM is 1.0%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ1.4%TTM1.0%+0.5%
TTM1.0%YOY0.8%+0.1%
TTM1.0%5Y1.1%-0.1%
5Y1.1%10Y1.3%-0.2%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ1.4%0.8%+0.6%
TTM1.0%0.6%+0.4%
YOY0.8%0.8%+0.0%
5Y1.1%0.9%+0.2%
10Y1.3%1.0%+0.3%
4.3.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Proximus to the Telecom Services industry mean.
  • 5.1% Return on Equity means Proximus generated €0.05 for each €1 the owners (shareholders) invested.

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

  • The MRQ is 5.1%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 3.3%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ5.1%TTM3.3%+1.7%
TTM3.3%YOY2.6%+0.7%
TTM3.3%5Y3.4%-0.1%
5Y3.4%10Y3.9%-0.5%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ5.1%2.1%+3.0%
TTM3.3%2.2%+1.1%
YOY2.6%2.4%+0.2%
5Y3.4%2.4%+1.0%
10Y3.9%2.5%+1.4%
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4.3.2. Operating Efficiency of Proximus NV.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Proximus is operating .

  • Measures how much profit Proximus 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 Proximus to the Telecom Services industry mean.
  • An Operating Margin of 16.9% means the company generated €0.17  for each €1 in revenue (before taxes).

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

  • The MRQ is 16.9%. The company is operating efficient. +1
  • The TTM is 12.3%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ16.9%TTM12.3%+4.6%
TTM12.3%YOY9.6%+2.7%
TTM12.3%5Y11.4%+0.9%
5Y11.4%10Y12.6%-1.2%
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ16.9%13.0%+3.9%
TTM12.3%11.7%+0.6%
YOY9.6%9.8%-0.2%
5Y11.4%11.1%+0.3%
10Y12.6%11.4%+1.2%
4.3.2.2. Operating Ratio

Measures how efficient Proximus is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Telecom Services industry mean).
  • An Operation Ratio of 0.83 means that the operating costs are €0.83 for each €1 in net sales.

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

  • The MRQ is 0.829. The company is less efficient in keeping operating costs low.
  • The TTM is 0.882. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.829TTM0.882-0.053
TTM0.882YOY0.904-0.022
TTM0.8825Y0.888-0.006
5Y0.88810Y0.875+0.013
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8290.991-0.162
TTM0.8820.986-0.104
YOY0.9040.943-0.039
5Y0.8880.946-0.058
10Y0.8750.938-0.063
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4.4.3. Liquidity of Proximus NV.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Proximus 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 0.77 means the company has €0.77 in assets for each €1 in short-term debts.

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

  • The MRQ is 0.768. The company is just not able to pay all its short-term debts. -1
  • The TTM is 0.809. The company is just not able to pay all its short-term debts. -1
Trends
Current periodCompared to+/- 
MRQ0.768TTM0.809-0.040
TTM0.809YOY0.662+0.146
TTM0.8095Y0.718+0.091
5Y0.71810Y0.760-0.042
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7680.910-0.142
TTM0.8090.912-0.103
YOY0.6620.948-0.286
5Y0.7181.008-0.290
10Y0.7601.051-0.291
4.4.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Proximus to the Telecom Services industry mean.
  • A Quick Ratio of 0.48 means the company can pay off €0.48 for each €1 in debt (using most liquid assets).

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

  • The MRQ is 0.482. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.580. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.482TTM0.580-0.097
TTM0.580YOY0.413+0.166
TTM0.5805Y0.532+0.048
5Y0.53210Y0.608-0.076
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4820.604-0.122
TTM0.5800.629-0.049
YOY0.4130.725-0.312
5Y0.5320.758-0.226
10Y0.6080.783-0.175
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4.5.4. Solvency of Proximus NV.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Proximus to Telecom Services industry mean.
  • A Debt to Asset Ratio of 0.71 means that Proximus assets are financed with 70.6% credit (debt) and the remaining percentage (100% - 70.6%) is financed by its owners/shareholders. 

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

  • The MRQ is 0.706. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.707. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.706TTM0.707-0.001
TTM0.707YOY0.686+0.021
TTM0.7075Y0.678+0.029
5Y0.67810Y0.660+0.018
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7060.622+0.084
TTM0.7070.619+0.088
YOY0.6860.613+0.073
5Y0.6780.615+0.063
10Y0.6600.613+0.047
4.5.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Proximus to the Telecom Services industry mean.
  • A Debt to Equity ratio of 252.3% means that company has €2.52 debt for each €1 in shareholders equity.

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

  • The MRQ is 2.523. The company is unable to pay all its debts with equity. -1
  • The TTM is 2.465. The company is just not able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ2.523TTM2.465+0.057
TTM2.465YOY2.182+0.283
TTM2.4655Y2.146+0.320
5Y2.14610Y2.020+0.126
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.5231.578+0.945
TTM2.4651.569+0.896
YOY2.1821.533+0.649
5Y2.1461.688+0.458
10Y2.0201.674+0.346
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Proximus to the Telecom Services industry mean.
  • A PE ratio of 3.10 means the investor is paying €3.10 for every €1 in earnings.

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

  • The EOD is 2.349. Based on the earnings, the company is cheap. +2
  • The MRQ is 3.102. Based on the earnings, the company is cheap. +2
  • The TTM is 5.848. Based on the earnings, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD2.349MRQ3.102-0.753
MRQ3.102TTM5.848-2.746
TTM5.848YOY7.576-1.728
TTM5.8485Y5.113+0.735
5Y5.11310Y11.651-6.537
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD2.34910.989-8.640
MRQ3.10211.108-8.006
TTM5.84810.389-4.541
YOY7.57611.639-4.063
5Y5.11315.947-10.834
10Y11.65116.764-5.113
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Proximus NV:

  • The EOD is 2.227. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 2.941. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The TTM is 16.091. Based on how much money comes from the company's main activities, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD2.227MRQ2.941-0.714
MRQ2.941TTM16.091-13.150
TTM16.091YOY6.621+9.469
TTM16.0915Y-5.356+21.447
5Y-5.35610Y31.216-36.572
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD2.2276.643-4.416
MRQ2.9416.547-3.606
TTM16.0915.331+10.760
YOY6.6215.037+1.584
5Y-5.3564.404-9.760
10Y31.2165.837+25.379
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Proximus 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 0.60 means the investor is paying €0.60 for each €1 in book value.

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

  • The EOD is 0.452. Based on the equity, the company is cheap. +2
  • The MRQ is 0.596. Based on the equity, the company is cheap. +2
  • The TTM is 0.702. Based on the equity, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD0.452MRQ0.596-0.145
MRQ0.596TTM0.702-0.106
TTM0.702YOY0.784-0.081
TTM0.7025Y1.397-0.694
5Y1.39710Y2.163-0.767
Compared to industry (Telecom Services)
PeriodCompanyIndustry (mean)+/- 
EOD0.4521.676-1.224
MRQ0.5961.609-1.013
TTM0.7021.618-0.916
YOY0.7841.648-0.864
5Y1.3972.026-0.629
10Y2.1632.440-0.277
4.6.2. Total Gains per Share

2.4. Latest News of Proximus NV

Does Proximus NV still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Proximus NV to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2025-02-08
08:03
Orange Belgium SA (XBRU:OBEL) (FY 2024) Earnings Call Highlights: Strong Growth Amidst ...Read
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6. Financial Statements




6.1. Latest Balance Sheet

Balance Sheet of 2024-09-30. Currency in EUR. All numbers in thousands.

Summary
Total Assets12,871,000
Total Liabilities9,084,000
Total Stockholder Equity3,601,000
 As reported
Total Liabilities 9,084,000
Total Stockholder Equity+ 3,601,000
Total Assets = 12,871,000

Assets

Total Assets12,871,000
Total Current Assets2,187,000
Long-term Assets10,683,000
Total Current Assets
Cash And Cash Equivalents 267,000
Short-term Investments 35,000
Net Receivables 1,036,000
Inventory 172,000
Total Current Assets  (as reported)2,187,000
Total Current Assets  (calculated)1,510,000
+/- 677,000
Long-term Assets
Property Plant Equipment 4,902,000
Goodwill 3,234,000
Intangible Assets 2,077,000
Long-term Assets Other 473,000
Long-term Assets  (as reported)10,683,000
Long-term Assets  (calculated)10,686,000
+/- 3,000

Liabilities & Shareholders' Equity

Total Current Liabilities2,847,000
Long-term Liabilities6,237,000
Total Stockholder Equity3,601,000
Total Current Liabilities
Short-term Debt 512,000
Short Long Term Debt 415,000
Accounts payable 1,362,000
Other Current Liabilities 881,000
Total Current Liabilities  (as reported)2,847,000
Total Current Liabilities  (calculated)3,170,000
+/- 323,000
Long-term Liabilities
Long term Debt 4,489,000
Capital Lease Obligations 311,000
Long-term Liabilities Other 1,000
Long-term Liabilities  (as reported)6,237,000
Long-term Liabilities  (calculated)4,801,000
+/- 1,436,000
Total Stockholder Equity
Common Stock1,000,000
Retained Earnings 2,772,000
Other Stockholders Equity -171,000
Total Stockholder Equity (as reported)3,601,000
Total Stockholder Equity (calculated)3,601,000
+/-0
Other
Capital Stock1,000,000
Cash and Short Term Investments 302,000
Common Stock Shares Outstanding 322,642
Current Deferred Revenue914,000
Liabilities and Stockholders Equity 12,871,000
Net Debt 4,948,000
Net Invested Capital 8,505,000
Net Working Capital -660,000
Property Plant and Equipment Gross 4,902,000
Short Long Term Debt Total 5,215,000



6.2. Balance Sheets Structured

Currency in EUR. All numbers in thousands.

 Trend2024-09-302024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-06-302005-03-312004-12-31
> Total Assets 
5,368,000
0
5,095,000
5,831,000
6,308,000
6,060,000
6,080,000
7,300,000
7,471,000
7,058,000
7,362,000
7,325,000
7,362,000
7,017,000
7,294,000
7,782,000
8,004,000
7,538,000
7,749,000
7,450,000
8,670,000
8,389,000
8,552,000
8,511,000
8,869,000
8,388,000
8,729,000
8,312,000
8,533,000
8,304,000
8,357,000
8,211,000
8,505,000
8,196,000
8,124,000
8,417,000
8,791,000
8,373,000
8,646,000
8,522,000
8,696,000
8,402,000
8,656,000
8,283,000
8,483,000
8,240,000
8,454,000
8,117,000
8,381,000
8,207,000
8,296,000
8,527,000
8,823,000
8,540,000
8,574,000
8,671,000
9,002,000
8,846,000
8,856,000
8,978,000
8,991,000
8,965,000
8,819,000
8,779,000
8,774,000
8,776,000
8,723,000
9,233,000
9,417,000
10,034,000
10,239,000
10,541,000
10,576,000
10,616,000
10,691,000
11,153,000
11,917,000
12,071,000
12,871,000
12,871,00012,071,00011,917,00011,153,00010,691,00010,616,00010,576,00010,541,00010,239,00010,034,0009,417,0009,233,0008,723,0008,776,0008,774,0008,779,0008,819,0008,965,0008,991,0008,978,0008,856,0008,846,0009,002,0008,671,0008,574,0008,540,0008,823,0008,527,0008,296,0008,207,0008,381,0008,117,0008,454,0008,240,0008,483,0008,283,0008,656,0008,402,0008,696,0008,522,0008,646,0008,373,0008,791,0008,417,0008,124,0008,196,0008,505,0008,211,0008,357,0008,304,0008,533,0008,312,0008,729,0008,388,0008,869,0008,511,0008,552,0008,389,0008,670,0007,450,0007,749,0007,538,0008,004,0007,782,0007,294,0007,017,0007,362,0007,325,0007,362,0007,058,0007,471,0007,300,0006,080,0006,060,0006,308,0005,831,0005,095,00005,368,000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,945,000
2,490,000
2,167,000
2,397,000
2,326,000
2,741,000
2,259,000
2,577,000
2,095,000
2,333,000
2,112,000
2,197,000
2,051,000
2,332,000
2,080,000
2,045,000
2,163,000
2,604,000
2,152,000
2,434,000
2,183,000
2,397,000
2,048,000
2,337,000
1,897,000
2,070,000
1,863,000
2,118,000
1,745,000
2,023,000
1,802,000
1,936,000
1,793,000
2,015,000
1,755,000
1,770,000
1,822,000
1,878,000
1,709,000
1,742,000
1,818,000
1,860,000
1,931,000
1,790,000
1,660,000
1,641,000
1,527,000
1,436,000
1,685,000
1,813,000
1,751,000
1,693,000
1,952,000
1,964,000
1,984,000
1,940,000
2,220,000
2,965,000
2,108,000
2,187,000
2,187,0002,108,0002,965,0002,220,0001,940,0001,984,0001,964,0001,952,0001,693,0001,751,0001,813,0001,685,0001,436,0001,527,0001,641,0001,660,0001,790,0001,931,0001,860,0001,818,0001,742,0001,709,0001,878,0001,822,0001,770,0001,755,0002,015,0001,793,0001,936,0001,802,0002,023,0001,745,0002,118,0001,863,0002,070,0001,897,0002,337,0002,048,0002,397,0002,183,0002,434,0002,152,0002,604,0002,163,0002,045,0002,080,0002,332,0002,051,0002,197,0002,112,0002,333,0002,095,0002,577,0002,259,0002,741,0002,326,0002,397,0002,167,0002,490,0001,945,0000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
331,000
639,000
357,000
615,000
584,000
921,000
495,000
815,000
320,000
515,000
261,000
365,000
152,000
365,000
219,000
233,000
255,000
728,000
521,000
773,000
702,000
715,000
510,000
819,000
502,000
638,000
417,000
613,000
297,000
625,000
413,000
521,000
333,000
446,000
210,000
233,000
340,000
321,000
294,000
344,000
323,000
314,000
510,000
461,000
310,000
276,000
230,000
157,000
249,000
292,000
230,000
201,000
298,000
236,000
255,000
183,000
716,000
1,276,000
195,000
267,000
267,000195,0001,276,000716,000183,000255,000236,000298,000201,000230,000292,000249,000157,000230,000276,000310,000461,000510,000314,000323,000344,000294,000321,000340,000233,000210,000446,000333,000521,000413,000625,000297,000613,000417,000638,000502,000819,000510,000715,000702,000773,000521,000728,000255,000233,000219,000365,000152,000365,000261,000515,000320,000815,000495,000921,000584,000615,000357,000639,000331,0000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
76,000
65,000
42,000
46,000
43,000
46,000
49,000
41,000
36,000
21,000
26,000
26,000
133,000
87,000
61,000
61,000
160,000
61,000
9,000
9,000
8,000
9,000
11,000
11,000
8,000
9,000
10,000
110,000
6,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
4,000
4,000
4,000
4,000
3,000
3,000
3,000
3,000
3,000
-116,000
-116,000
-116,000
-175,000
-6,000
-7,000
-6,000
-91,000
-8,000
-255,000
-254,000
0
-303,000
39,000
35,000
35,00039,000-303,0000-254,000-255,000-8,000-91,000-6,000-7,000-6,000-175,000-116,000-116,000-116,0003,0003,0003,0003,0003,0004,0004,0004,0004,0005,0005,0005,0005,0005,0005,0005,0006,000110,00010,0009,0008,00011,00011,0009,0008,0009,0009,00061,000160,00061,00061,00087,000133,00026,00026,00021,00036,00041,00049,00046,00043,00046,00042,00065,00076,0000000000000000000000
       Net Receivables 
922,000
0
921,000
1,046,000
1,221,000
1,244,000
1,320,000
1,343,000
1,284,000
1,306,000
1,328,000
1,309,000
1,289,000
1,339,000
1,359,000
1,404,000
1,340,000
1,382,000
1,311,000
1,258,000
1,481,000
1,441,000
1,421,000
1,444,000
1,446,000
1,414,000
1,442,000
1,471,000
1,442,000
1,512,000
1,524,000
1,534,000
1,385,000
1,329,000
1,262,000
1,289,000
1,203,000
1,200,000
1,250,000
1,182,000
1,230,000
1,223,000
1,206,000
1,140,000
1,116,000
1,163,000
1,129,000
1,149,000
1,109,000
1,087,000
1,135,000
1,194,000
1,258,000
1,225,000
1,241,000
1,253,000
1,224,000
1,118,000
1,111,000
1,085,000
1,237,000
1,128,000
1,052,000
1,128,000
1,066,000
1,011,000
998,000
999,000
1,062,000
1,173,000
1,147,000
1,139,000
1,090,000
1,120,000
1,142,000
1,033,000
1,145,000
1,290,000
1,036,000
1,036,0001,290,0001,145,0001,033,0001,142,0001,120,0001,090,0001,139,0001,147,0001,173,0001,062,000999,000998,0001,011,0001,066,0001,128,0001,052,0001,128,0001,237,0001,085,0001,111,0001,118,0001,224,0001,253,0001,241,0001,225,0001,258,0001,194,0001,135,0001,087,0001,109,0001,149,0001,129,0001,163,0001,116,0001,140,0001,206,0001,223,0001,230,0001,182,0001,250,0001,200,0001,203,0001,289,0001,262,0001,329,0001,385,0001,534,0001,524,0001,512,0001,442,0001,471,0001,442,0001,414,0001,446,0001,444,0001,421,0001,441,0001,481,0001,258,0001,311,0001,382,0001,340,0001,404,0001,359,0001,339,0001,289,0001,309,0001,328,0001,306,0001,284,0001,343,0001,320,0001,244,0001,221,0001,046,000921,0000922,000
       Other Current Assets 
25,000
0
124,000
31,000
115,000
110,000
106,000
43,000
108,000
114,000
102,000
60,000
131,000
138,000
151,000
95,000
188,000
173,000
189,000
194,000
207,000
207,000
186,000
141,000
210,000
189,000
158,000
1,624,000
214,000
162,000
142,000
1,633,000
348,000
324,000
328,000
294,000
474,000
282,000
264,000
163,000
294,000
166,000
167,000
138,000
170,000
156,000
136,000
167,000
153,000
160,000
141,000
138,000
156,000
174,000
163,000
96,000
186,000
161,000
146,000
274,000
168,000
152,000
135,000
258,000
175,000
166,000
150,000
306,000
307,000
176,000
158,000
391,000
436,000
414,000
427,000
311,000
359,000
422,000
1,713,000
1,713,000422,000359,000311,000427,000414,000436,000391,000158,000176,000307,000306,000150,000166,000175,000258,000135,000152,000168,000274,000146,000161,000186,00096,000163,000174,000156,000138,000141,000160,000153,000167,000136,000156,000170,000138,000167,000166,000294,000163,000264,000282,000474,000294,000328,000324,000348,0001,633,000142,000162,000214,0001,624,000158,000189,000210,000141,000186,000207,000207,000194,000189,000173,000188,00095,000151,000138,000131,00060,000102,000114,000108,00043,000106,000110,000115,00031,000124,000025,000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,505,000
6,180,000
6,222,000
6,155,000
6,185,000
6,128,000
6,129,000
6,152,000
6,217,000
6,200,000
6,192,000
6,160,000
6,160,000
6,173,000
6,116,000
6,079,000
6,254,000
6,187,000
6,222,000
6,212,000
6,339,000
6,298,000
6,354,000
6,319,000
6,386,000
6,412,000
6,377,000
6,336,000
6,372,000
6,358,000
6,406,000
6,361,000
6,735,000
6,808,000
6,786,000
6,805,000
6,850,000
7,124,000
7,137,000
7,114,000
7,160,000
7,131,000
7,034,000
7,029,000
7,120,000
7,132,000
7,249,000
7,287,000
7,548,000
7,605,000
8,282,000
8,546,000
8,589,000
8,612,000
8,632,000
8,751,000
8,933,000
8,952,000
9,963,000
10,683,000
10,683,0009,963,0008,952,0008,933,0008,751,0008,632,0008,612,0008,589,0008,546,0008,282,0007,605,0007,548,0007,287,0007,249,0007,132,0007,120,0007,029,0007,034,0007,131,0007,160,0007,114,0007,137,0007,124,0006,850,0006,805,0006,786,0006,808,0006,735,0006,361,0006,406,0006,358,0006,372,0006,336,0006,377,0006,412,0006,386,0006,319,0006,354,0006,298,0006,339,0006,212,0006,222,0006,187,0006,254,0006,079,0006,116,0006,173,0006,160,0006,160,0006,192,0006,200,0006,217,0006,152,0006,129,0006,128,0006,185,0006,155,0006,222,0006,180,0005,505,0000000000000000000000
       Property Plant Equipment 
2,658,000
0
2,539,000
2,497,000
2,529,000
2,505,000
2,490,000
2,527,000
2,489,000
2,480,000
2,444,000
2,470,000
2,449,000
2,422,000
2,409,000
2,501,000
2,464,000
2,441,000
2,408,000
2,420,000
2,399,000
2,366,000
2,335,000
2,348,000
2,335,000
2,326,000
2,323,000
2,401,000
2,397,000
2,405,000
2,416,000
2,467,000
2,470,000
2,475,000
2,480,000
2,558,000
2,567,000
2,570,000
2,600,000
2,681,000
2,705,000
2,731,000
2,740,000
2,808,000
2,830,000
2,849,000
2,844,000
2,910,000
2,891,000
2,888,000
2,878,000
2,976,000
2,955,000
2,954,000
2,975,000
2,498,000
3,336,000
3,374,000
3,381,000
3,433,000
3,397,000
3,371,000
3,364,000
3,455,000
3,451,000
3,465,000
3,455,000
3,585,000
3,626,000
3,676,000
3,729,000
3,808,000
3,852,000
3,917,000
3,994,000
4,141,000
4,186,000
4,258,000
4,902,000
4,902,0004,258,0004,186,0004,141,0003,994,0003,917,0003,852,0003,808,0003,729,0003,676,0003,626,0003,585,0003,455,0003,465,0003,451,0003,455,0003,364,0003,371,0003,397,0003,433,0003,381,0003,374,0003,336,0002,498,0002,975,0002,954,0002,955,0002,976,0002,878,0002,888,0002,891,0002,910,0002,844,0002,849,0002,830,0002,808,0002,740,0002,731,0002,705,0002,681,0002,600,0002,570,0002,567,0002,558,0002,480,0002,475,0002,470,0002,467,0002,416,0002,405,0002,397,0002,401,0002,323,0002,326,0002,335,0002,348,0002,335,0002,366,0002,399,0002,420,0002,408,0002,441,0002,464,0002,501,0002,409,0002,422,0002,449,0002,470,0002,444,0002,480,0002,489,0002,527,0002,490,0002,505,0002,529,0002,497,0002,539,00002,658,000
       Goodwill 
30,000
0
0
0
243,000
232,000
233,000
1,760,000
1,760,000
1,780,000
1,779,000
1,777,000
1,777,000
1,780,000
1,948,000
2,111,000
2,113,000
2,081,000
2,100,000
2,088,000
2,340,000
2,333,000
2,332,000
2,337,000
2,337,000
2,331,000
2,331,000
2,323,000
2,339,000
2,338,000
2,340,000
2,339,000
2,339,000
2,339,000
2,339,000
2,320,000
2,292,000
2,294,000
2,294,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,283,000
2,283,000
2,283,000
2,279,000
2,279,000
2,284,000
2,285,000
2,431,000
2,434,000
2,450,000
2,486,000
2,470,000
2,482,000
2,476,000
2,482,000
2,477,000
2,481,000
2,478,000
2,471,000
2,465,000
2,471,000
2,603,000
2,578,000
2,588,000
2,592,000
2,599,000
2,606,000
2,595,000
2,593,000
2,593,000
2,596,000
2,592,000
2,594,000
3,010,000
3,234,000
3,234,0003,010,0002,594,0002,592,0002,596,0002,593,0002,593,0002,595,0002,606,0002,599,0002,592,0002,588,0002,578,0002,603,0002,471,0002,465,0002,471,0002,478,0002,481,0002,477,0002,482,0002,476,0002,482,0002,470,0002,486,0002,450,0002,434,0002,431,0002,285,0002,284,0002,279,0002,279,0002,283,0002,283,0002,283,0002,272,0002,272,0002,272,0002,272,0002,272,0002,294,0002,294,0002,292,0002,320,0002,339,0002,339,0002,339,0002,339,0002,340,0002,338,0002,339,0002,323,0002,331,0002,331,0002,337,0002,337,0002,332,0002,333,0002,340,0002,088,0002,100,0002,081,0002,113,0002,111,0001,948,0001,780,0001,777,0001,777,0001,779,0001,780,0001,760,0001,760,000233,000232,000243,00000030,000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,000
13,000
20,000
18,000
16,000
11,000
5,000
16,000
19,000
19,000
21,000
21,000
33,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000000033,00021,00021,00019,00019,00016,0005,00011,00016,00018,00020,00013,00019,00000000000000000000000000000000000000000000000000
       Intangible Assets 
500,000
0
474,000
602,000
885,000
875,000
845,000
2,350,000
2,316,000
2,307,000
2,272,000
2,259,000
2,223,000
2,305,000
2,485,000
2,663,000
2,661,000
2,663,000
2,661,000
623,000
1,177,000
1,223,000
1,188,000
1,190,000
1,181,000
1,151,000
1,133,000
1,155,000
1,167,000
3,483,000
1,108,000
1,098,000
1,095,000
1,067,000
1,039,000
1,184,000
1,144,000
1,160,000
1,121,000
1,180,000
1,167,000
1,193,000
1,160,000
1,163,000
1,153,000
1,113,000
1,074,000
1,101,000
1,102,000
1,141,000
1,108,000
1,233,000
1,219,000
1,205,000
1,169,000
1,154,000
1,134,000
1,118,000
1,083,000
1,080,000
1,088,000
1,033,000
1,042,000
1,047,000
1,025,000
997,000
1,060,000
1,114,000
1,094,000
1,546,000
1,671,000
1,780,000
1,774,000
1,731,000
1,701,000
1,702,000
1,683,000
2,148,000
2,077,000
2,077,0002,148,0001,683,0001,702,0001,701,0001,731,0001,774,0001,780,0001,671,0001,546,0001,094,0001,114,0001,060,000997,0001,025,0001,047,0001,042,0001,033,0001,088,0001,080,0001,083,0001,118,0001,134,0001,154,0001,169,0001,205,0001,219,0001,233,0001,108,0001,141,0001,102,0001,101,0001,074,0001,113,0001,153,0001,163,0001,160,0001,193,0001,167,0001,180,0001,121,0001,160,0001,144,0001,184,0001,039,0001,067,0001,095,0001,098,0001,108,0003,483,0001,167,0001,155,0001,133,0001,151,0001,181,0001,190,0001,188,0001,223,0001,177,000623,0002,661,0002,663,0002,661,0002,663,0002,485,0002,305,0002,223,0002,259,0002,272,0002,307,0002,316,0002,350,000845,000875,000885,000602,000474,0000500,000
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
152,000
144,000
169,000
160,000
167,000
142,000
202,000
231,000
219,000
169,000
203,000
203,000
268,000
210,000
161,000
154,000
235,000
133,000
105,000
109,000
100,000
55,000
49,000
61,000
51,000
50,000
53,000
152,000
41,000
45,000
45,000
46,000
62,000
180,000
46,000
45,000
683,000
39,000
35,000
36,000
129,000
152,000
144,000
146,000
123,000
26,000
27,000
28,000
25,000
252,000
420,000
475,000
250,000
341,000
91,000
104,000
394,000
92,000
447,000
473,000
473,000447,00092,000394,000104,00091,000341,000250,000475,000420,000252,00025,00028,00027,00026,000123,000146,000144,000152,000129,00036,00035,00039,000683,00045,00046,000180,00062,00046,00045,00045,00041,000152,00053,00050,00051,00061,00049,00055,000100,000109,000105,000133,000235,000154,000161,000210,000268,000203,000203,000169,000219,000231,000202,000142,000167,000160,000169,000144,000152,0000000000000000000000
> Total Liabilities 
2,739,000
0
2,692,000
3,240,000
3,479,000
3,424,000
3,328,000
4,900,000
4,816,000
4,685,000
4,755,000
4,800,000
4,744,000
4,712,000
4,875,000
5,506,000
5,515,000
5,391,000
5,380,000
4,922,000
5,279,000
5,329,000
5,285,000
5,169,000
5,331,000
5,214,000
5,417,000
5,009,000
5,023,000
5,155,000
5,013,000
4,983,000
5,230,000
5,331,000
5,094,000
5,375,000
5,621,000
5,464,000
5,547,000
5,554,000
5,582,000
5,489,000
5,664,000
5,318,000
5,414,000
5,458,000
5,511,000
5,136,000
5,271,000
5,331,000
5,279,000
5,514,000
5,544,000
5,476,000
5,367,000
5,518,000
5,711,000
5,762,000
5,627,000
5,980,000
5,834,000
6,014,000
5,721,000
5,753,000
5,828,000
5,949,000
5,772,000
6,255,000
6,286,000
6,803,000
6,830,000
7,233,000
7,187,000
7,361,000
7,307,000
7,853,000
8,504,000
8,492,000
9,084,000
9,084,0008,492,0008,504,0007,853,0007,307,0007,361,0007,187,0007,233,0006,830,0006,803,0006,286,0006,255,0005,772,0005,949,0005,828,0005,753,0005,721,0006,014,0005,834,0005,980,0005,627,0005,762,0005,711,0005,518,0005,367,0005,476,0005,544,0005,514,0005,279,0005,331,0005,271,0005,136,0005,511,0005,458,0005,414,0005,318,0005,664,0005,489,0005,582,0005,554,0005,547,0005,464,0005,621,0005,375,0005,094,0005,331,0005,230,0004,983,0005,013,0005,155,0005,023,0005,009,0005,417,0005,214,0005,331,0005,169,0005,285,0005,329,0005,279,0004,922,0005,380,0005,391,0005,515,0005,506,0004,875,0004,712,0004,744,0004,800,0004,755,0004,685,0004,816,0004,900,0003,328,0003,424,0003,479,0003,240,0002,692,00002,739,000
   > Total Current Liabilities 
1,445,000
0
1,438,000
1,698,000
1,961,000
1,949,000
1,866,000
1,848,000
1,793,000
1,704,000
1,796,000
1,810,000
1,780,000
1,782,000
1,939,000
2,323,000
2,341,000
2,228,000
2,238,000
1,830,000
2,084,000
2,109,000
2,110,000
2,804,000
2,531,000
2,477,000
2,655,000
2,260,000
2,334,000
2,455,000
2,322,000
2,472,000
2,437,000
2,485,000
2,282,000
2,511,000
2,785,000
2,079,000
2,184,000
2,221,000
2,354,000
2,223,000
2,781,000
2,655,000
2,754,000
2,665,000
2,697,000
2,439,000
2,505,000
2,527,000
2,493,000
2,725,000
2,325,000
2,258,000
2,175,000
2,338,000
2,245,000
2,264,000
2,128,000
2,363,000
2,235,000
2,339,000
2,080,000
2,114,000
2,697,000
2,840,000
2,674,000
2,475,000
2,455,000
2,670,000
2,617,000
3,002,000
2,480,000
3,281,000
3,222,000
3,059,000
3,028,000
2,768,000
2,847,000
2,847,0002,768,0003,028,0003,059,0003,222,0003,281,0002,480,0003,002,0002,617,0002,670,0002,455,0002,475,0002,674,0002,840,0002,697,0002,114,0002,080,0002,339,0002,235,0002,363,0002,128,0002,264,0002,245,0002,338,0002,175,0002,258,0002,325,0002,725,0002,493,0002,527,0002,505,0002,439,0002,697,0002,665,0002,754,0002,655,0002,781,0002,223,0002,354,0002,221,0002,184,0002,079,0002,785,0002,511,0002,282,0002,485,0002,437,0002,472,0002,322,0002,455,0002,334,0002,260,0002,655,0002,477,0002,531,0002,804,0002,110,0002,109,0002,084,0001,830,0002,238,0002,228,0002,341,0002,323,0001,939,0001,782,0001,780,0001,810,0001,796,0001,704,0001,793,0001,848,0001,866,0001,949,0001,961,0001,698,0001,438,00001,445,000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
59,000
10,000
10,000
11,000
783,000
386,000
386,000
387,000
41,000
35,000
205,000
61,000
216,000
139,000
391,000
129,000
316,000
598,000
2,000
2,000
162,000
255,000
155,000
545,000
674,000
675,000
676,000
679,000
407,000
461,000
566,000
407,000
570,000
200,000
235,000
67,000
297,000
75,000
267,000
149,000
221,000
64,000
367,000
-46,000
231,000
770,000
965,000
745,000
321,000
295,000
611,000
499,000
661,000
182,000
1,055,000
948,000
699,000
699,000
481,000
512,000
512,000481,000699,000699,000948,0001,055,000182,000661,000499,000611,000295,000321,000745,000965,000770,000231,000-46,000367,00064,000221,000149,000267,00075,000297,00067,000235,000200,000570,000407,000566,000461,000407,000679,000676,000675,000674,000545,000155,000255,000162,0002,0002,000598,000316,000129,000391,000139,000216,00061,000205,00035,00041,000387,000386,000386,000783,00011,00010,00010,00059,0000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,170,000
2,320,000
2,424,000
405,000
404,000
198,000
2,495,000
0
1,000
1,000
192,000
1,000
157,000
1,000
297,000
0
163,000
702,000
897,000
677,000
252,000
221,000
535,000
425,000
588,000
112,000
983,000
871,000
611,000
610,000
387,000
415,000
415,000387,000610,000611,000871,000983,000112,000588,000425,000535,000221,000252,000677,000897,000702,000163,0000297,0001,000157,0001,000192,0001,0001,00002,495,000198,000404,000405,0002,424,0002,320,0002,170,00000000000000000000000000000000000000000000000000
       Accounts payable 
782,000
0
787,000
1,038,000
1,082,000
1,103,000
1,094,000
1,086,000
992,000
1,010,000
998,000
1,079,000
1,005,000
1,113,000
1,137,000
1,239,000
1,160,000
1,144,000
1,108,000
1,123,000
1,310,000
1,372,000
1,317,000
1,304,000
1,282,000
1,284,000
1,342,000
1,343,000
1,278,000
1,322,000
1,289,000
1,310,000
1,293,000
1,260,000
1,210,000
1,320,000
1,198,000
1,262,000
1,290,000
1,358,000
1,279,000
1,253,000
1,242,000
1,330,000
1,273,000
1,254,000
1,229,000
1,388,000
1,278,000
1,275,000
1,302,000
1,415,000
1,295,000
1,262,000
1,273,000
1,361,000
1,302,000
1,260,000
1,242,000
1,284,000
1,295,000
1,235,000
1,245,000
1,213,000
1,226,000
1,208,000
1,235,000
1,251,000
1,456,000
1,403,000
1,419,000
1,483,000
1,402,000
1,405,000
1,372,000
1,433,000
1,333,000
1,344,000
1,362,000
1,362,0001,344,0001,333,0001,433,0001,372,0001,405,0001,402,0001,483,0001,419,0001,403,0001,456,0001,251,0001,235,0001,208,0001,226,0001,213,0001,245,0001,235,0001,295,0001,284,0001,242,0001,260,0001,302,0001,361,0001,273,0001,262,0001,295,0001,415,0001,302,0001,275,0001,278,0001,388,0001,229,0001,254,0001,273,0001,330,0001,242,0001,253,0001,279,0001,358,0001,290,0001,262,0001,198,0001,320,0001,210,0001,260,0001,293,0001,310,0001,289,0001,322,0001,278,0001,343,0001,342,0001,284,0001,282,0001,304,0001,317,0001,372,0001,310,0001,123,0001,108,0001,144,0001,160,0001,239,0001,137,0001,113,0001,005,0001,079,000998,0001,010,000992,0001,086,0001,094,0001,103,0001,082,0001,038,000787,0000782,000
       Other Current Liabilities 
605,000
0
606,000
549,000
802,000
648,000
670,000
691,000
732,000
622,000
723,000
662,000
706,000
614,000
697,000
691,000
816,000
735,000
777,000
511,000
617,000
590,000
-135,000
529,000
624,000
610,000
670,000
647,000
735,000
715,000
769,000
553,000
761,000
729,000
796,000
-167,000
-166,000
689,000
734,000
480,000
658,000
614,000
783,000
-104,000
670,000
611,000
662,000
334,000
681,000
646,000
686,000
541,000
657,000
648,000
-1,115,000
351,000
625,000
567,000
531,000
541,000
672,000
589,000
623,000
381,000
526,000
510,000
552,000
633,000
546,000
503,000
554,000
508,000
715,000
654,000
708,000
691,000
777,000
754,000
881,000
881,000754,000777,000691,000708,000654,000715,000508,000554,000503,000546,000633,000552,000510,000526,000381,000623,000589,000672,000541,000531,000567,000625,000351,000-1,115,000648,000657,000541,000686,000646,000681,000334,000662,000611,000670,000-104,000783,000614,000658,000480,000734,000689,000-166,000-167,000796,000729,000761,000553,000769,000715,000735,000647,000670,000610,000624,000529,000-135,000590,000617,000511,000777,000735,000816,000691,000697,000614,000706,000662,000723,000622,000732,000691,000670,000648,000802,000549,000606,0000605,000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,092,000
3,195,000
3,220,000
3,175,000
2,365,000
2,800,000
2,737,000
2,762,000
2,749,000
2,689,000
2,700,000
2,691,000
2,511,000
2,793,000
2,846,000
2,812,000
2,864,000
2,836,000
3,385,000
3,363,000
3,333,000
3,228,000
3,266,000
2,883,000
2,663,000
2,660,000
2,793,000
2,814,000
2,697,000
2,766,000
2,804,000
2,786,000
2,789,000
3,219,000
3,218,000
3,192,000
3,180,000
3,466,000
3,498,000
3,499,000
3,617,000
3,599,000
3,675,000
3,641,000
3,639,000
3,131,000
3,109,000
3,098,000
3,780,000
3,831,000
4,133,000
4,213,000
4,231,000
4,707,000
4,080,000
4,085,000
4,794,000
5,476,000
5,724,000
6,237,000
6,237,0005,724,0005,476,0004,794,0004,085,0004,080,0004,707,0004,231,0004,213,0004,133,0003,831,0003,780,0003,098,0003,109,0003,131,0003,639,0003,641,0003,675,0003,599,0003,617,0003,499,0003,498,0003,466,0003,180,0003,192,0003,218,0003,219,0002,789,0002,786,0002,804,0002,766,0002,697,0002,814,0002,793,0002,660,0002,663,0002,883,0003,266,0003,228,0003,333,0003,363,0003,385,0002,836,0002,864,0002,812,0002,846,0002,793,0002,511,0002,691,0002,700,0002,689,0002,749,0002,762,0002,737,0002,800,0002,365,0003,175,0003,220,0003,195,0003,092,0000000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,616,000
2,598,000
2,595,000
2,736,000
2,736,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00000000000000002,736,0002,736,0002,595,0002,598,0002,616,0000000000000000000000000000000000000000000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-59,000
-10,000
-10,000
-11,000
-783,000
-386,000
-386,000
-387,000
-41,000
-35,000
-205,000
-61,000
-216,000
-139,000
-391,000
-129,000
-316,000
-598,000
-2,000
-2,000
-162,000
-255,000
-155,000
-545,000
-674,000
-675,000
-676,000
-679,000
-407,000
-461,000
-566,000
-407,000
-570,000
-200,000
-235,000
-67,000
-297,000
217,000
64,000
185,000
86,000
238,000
-66,000
345,000
53,000
-483,000
-685,000
-472,000
-48,000
-13,000
-333,000
-229,000
-389,000
90,000
-789,000
-660,000
-401,000
-398,000
-169,000
-201,000
-201,000-169,000-398,000-401,000-660,000-789,00090,000-389,000-229,000-333,000-13,000-48,000-472,000-685,000-483,00053,000345,000-66,000238,00086,000185,00064,000217,000-297,000-67,000-235,000-200,000-570,000-407,000-566,000-461,000-407,000-679,000-676,000-675,000-674,000-545,000-155,000-255,000-162,000-2,000-2,000-598,000-316,000-129,000-391,000-139,000-216,000-61,000-205,000-35,000-41,000-387,000-386,000-386,000-783,000-11,000-10,000-10,000-59,0000000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1,000
0
2,000
2,000
0
1,000
0
1,000
2,000
2,000
0
-3,000
-3,000
-1,000
-2,000
-2,000
1,000
0
1,000
1,000
0
0
1,000
1,000001,0001,00001,000-2,000-2,000-1,000-3,000-3,00002,0002,0001,00001,00002,0002,0000-1,00000000000000000000000000000000000000000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
120,000
117,000
116,000
116,000
115,000
112,000
111,000
113,000
112,000
106,000
108,000
108,000
110,000
110,000
109,000
110,000
110,000
111,000
110,000
111,000
0
0
110,000
0
0
0
0
0000110,00000111,000110,000111,000110,000110,000109,000110,000110,000108,000108,000106,000112,000113,000111,000112,000115,000116,000116,000117,000120,0000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
2,222,000
2,630,000
2,098,000
2,221,000
2,416,000
2,185,000
2,265,000
2,392,000
2,647,000
2,367,000
2,601,000
2,519,000
2,612,000
2,300,000
2,414,000
2,271,000
2,484,000
2,142,000
2,362,000
2,521,000
3,164,000
2,838,000
3,038,000
3,107,000
3,302,000
2,934,000
3,064,000
3,078,000
3,282,000
2,916,000
3,105,000
3,016,000
3,058,000
2,680,000
2,839,000
2,846,000
3,004,000
2,731,000
2,914,000
2,779,000
2,918,000
2,746,000
2,819,000
2,801,000
2,899,000
2,633,000
2,788,000
2,819,000
2,944,000
2,741,000
2,879,000
2,857,000
3,121,000
2,926,000
3,063,000
3,005,000
3,136,000
2,955,000
3,090,000
2,856,000
3,007,000
2,825,000
2,972,000
2,903,000
2,946,000
2,827,000
2,951,000
2,978,000
3,131,000
3,231,000
3,408,000
3,307,000
3,389,000
3,255,000
3,384,000
3,300,000
3,413,000
3,442,000
3,601,000
3,601,0003,442,0003,413,0003,300,0003,384,0003,255,0003,389,0003,307,0003,408,0003,231,0003,131,0002,978,0002,951,0002,827,0002,946,0002,903,0002,972,0002,825,0003,007,0002,856,0003,090,0002,955,0003,136,0003,005,0003,063,0002,926,0003,121,0002,857,0002,879,0002,741,0002,944,0002,819,0002,788,0002,633,0002,899,0002,801,0002,819,0002,746,0002,918,0002,779,0002,914,0002,731,0003,004,0002,846,0002,839,0002,680,0003,058,0003,016,0003,105,0002,916,0003,282,0003,078,0003,064,0002,934,0003,302,0003,107,0003,038,0002,838,0003,164,0002,521,0002,362,0002,142,0002,484,0002,271,0002,414,0002,300,0002,612,0002,519,0002,601,0002,367,0002,647,0002,392,0002,265,0002,185,0002,416,0002,221,0002,098,0002,630,0002,222,000
   Common Stock
1,000,000
0
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,0001,000,00001,000,000
   Retained Earnings 
1,332,000
0
1,435,000
1,614,000
1,829,000
1,531,000
1,799,000
1,972,000
2,291,000
1,358,000
1,591,000
1,586,000
1,822,000
1,506,000
1,721,000
1,675,000
1,887,000
1,535,000
1,752,000
1,911,000
2,549,000
2,212,000
2,407,000
2,476,000
2,670,000
2,327,000
2,522,000
2,532,000
2,731,000
2,357,000
2,541,000
2,451,000
2,488,000
2,106,000
2,261,000
2,310,000
2,459,000
2,174,000
2,331,000
2,270,000
2,399,000
2,222,000
2,291,000
2,255,000
2,349,000
2,153,000
2,313,000
2,270,000
2,390,000
2,193,000
2,334,000
2,310,000
2,574,000
2,375,000
2,507,000
2,474,000
2,607,000
2,417,000
2,547,000
2,356,000
2,508,000
2,329,000
2,485,000
2,434,000
2,466,000
2,361,000
2,477,000
2,403,000
2,524,000
2,420,000
2,546,000
2,465,000
2,558,000
2,425,000
2,503,000
2,432,000
2,532,000
2,565,000
2,772,000
2,772,0002,565,0002,532,0002,432,0002,503,0002,425,0002,558,0002,465,0002,546,0002,420,0002,524,0002,403,0002,477,0002,361,0002,466,0002,434,0002,485,0002,329,0002,508,0002,356,0002,547,0002,417,0002,607,0002,474,0002,507,0002,375,0002,574,0002,310,0002,334,0002,193,0002,390,0002,270,0002,313,0002,153,0002,349,0002,255,0002,291,0002,222,0002,399,0002,270,0002,331,0002,174,0002,459,0002,310,0002,261,0002,106,0002,488,0002,451,0002,541,0002,357,0002,731,0002,532,0002,522,0002,327,0002,670,0002,476,0002,407,0002,212,0002,549,0001,911,0001,752,0001,535,0001,887,0001,675,0001,721,0001,506,0001,822,0001,586,0001,591,0001,358,0002,291,0001,972,0001,799,0001,531,0001,829,0001,614,0001,435,00001,332,000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000000000000-426,000-424,000-424,000-421,000-420,000000-428,000-431,000-431,000-431,000-426,000-427,000-427,000-430,000-439,000-435,000-443,000-448,000-449,000-454,000-460,000-470,000-482,000-506,000-518,000-527,000-533,000-537,000-545,000-551,000-553,000-558,000-566,000-570,000-573,000-508,000-483,000-484,000-484,000-489,000-503,000-509,000-509,000-511,000-517,000-517,000-418,000-318,000-322,000-178,000-101,000-101,000-753,000-754,000-701,000-560,000-564,000-564,000-446,0000-271,000
   Other Stockholders Equity -171,000-376,000-421,000-419,000-416,000-418,000-419,000-421,000-408,000-409,000-525,000-524,000-630,000-632,000-629,000-940,000-808,000-799,000-678,000-973,000-694,000-1,704,000-571,000-724,000-644,000-667,000-677,000-576,000-1,684,000-1,677,000-565,000-1,670,000-811,000-805,000-657,000-660,000-695,000-698,000-701,000-712,000-552,000-581,000-592,000-601,000-522,000-426,000-430,000-361,000-436,000-441,000-449,000-454,000-458,000-393,000-368,000-369,000-369,000-374,000-385,000-390,0000000000000000000000



6.3. Balance Sheets

Currency in EUR. All numbers in thousands.