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RTX A/S










Financial Health of Rtx




Comparing to competitors in the Communication Equipment industry




  Industry Rankings  


RTX A/S
Buy, Hold or Sell?

Should you buy, hold or sell Rtx?

I guess you are interested in RTX A/S. 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 Rtx

Let's start. I'm going to help you getting a better view of RTX A/S. 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 RTX A/S 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 RTX A/S is doing in the market. If the company is worth buying. The latest step is to find out how other investors value RTX A/S. The closing price on 2022-12-02 was kr134.40 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.
RTX A/S Daily Candlestick Chart

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 inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of RTX A/S.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Rtx earns for each kr1 of revenue.

  • Above 10% is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • A Net Profit Margin of 0.9% means that kr0.01 for each kr1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of RTX A/S:

  • The MRQ is 0.9%. The company is not making a profit/loss.
  • The TTM is 3.8%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ0.9%TTM3.8%-3.0%
TTM3.8%YOY-7.9%+11.7%
TTM3.8%5Y6.4%-2.6%
5Y6.4%10Y9.9%-3.4%
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9%2.0%-1.1%
TTM3.8%1.3%+2.5%
YOY-7.9%1.5%-9.4%
5Y6.4%0.5%+5.9%
10Y9.9%1.4%+8.5%
1.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • 0.3% Return on Assets means that Rtx generated kr0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of RTX A/S:

  • The MRQ is 0.3%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 1.6%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ0.3%TTM1.6%-1.3%
TTM1.6%YOY-0.6%+2.2%
TTM1.6%5Y2.6%-1.0%
5Y2.6%10Y3.1%-0.5%
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ0.3%0.5%-0.2%
TTM1.6%0.4%+1.2%
YOY-0.6%0.5%-1.1%
5Y2.6%0.3%+2.3%
10Y3.1%0.4%+2.7%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • 0.5% Return on Equity means Rtx generated kr0.00 for each kr1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of RTX A/S:

  • The MRQ is 0.5%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 2.7%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ0.5%TTM2.7%-2.2%
TTM2.7%YOY-0.9%+3.6%
TTM2.7%5Y3.5%-0.9%
5Y3.5%10Y4.2%-0.6%
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5%1.1%-0.6%
TTM2.7%1.0%+1.7%
YOY-0.9%1.0%-1.9%
5Y3.5%0.5%+3.0%
10Y4.2%0.9%+3.3%

1.2. Operating Efficiency of RTX A/S.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Rtx is operating .

  • Measures how much profit Rtx makes for each kr1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • An Operating Margin of 3.6% means the company generated kr0.04  for each kr1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of RTX A/S:

  • The MRQ is 3.6%. The company is operating less efficient.
  • The TTM is 5.8%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ3.6%TTM5.8%-2.2%
TTM5.8%YOY-7.9%+13.7%
TTM5.8%5Y9.4%-3.6%
5Y9.4%10Y5.3%+4.1%
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ3.6%2.4%+1.2%
TTM5.8%1.3%+4.5%
YOY-7.9%1.9%-9.8%
5Y9.4%1.6%+7.8%
10Y5.3%1.2%+4.1%
1.2.2. Operating Ratio

Measures how efficient Rtx is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Communication Equipment industry mean).
  • An Operation Ratio of 1.50 means that the operating costs are kr1.50 for each kr1 in net sales.

Let's take a look of the Operating Ratio trends of RTX A/S:

  • The MRQ is 1.500. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.435. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.500TTM1.435+0.065
TTM1.435YOY1.480-0.045
TTM1.4355Y1.336+0.099
5Y1.33610Y0.930+0.407
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ1.5001.565-0.065
TTM1.4351.536-0.101
YOY1.4801.478+0.002
5Y1.3361.363-0.027
10Y0.9301.160-0.230

1.3. Liquidity of RTX A/S.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Communication Equipment industry mean).
  • A Current Ratio of 2.38 means the company has kr2.38 in assets for each kr1 in short-term debts.

Let's take a look of the Current Ratio trends of RTX A/S:

  • The MRQ is 2.382. The company is able to pay all its short-term debts. +1
  • The TTM is 2.650. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ2.382TTM2.650-0.267
TTM2.650YOY3.422-0.773
TTM2.6505Y3.505-0.855
5Y3.50510Y1.985+1.520
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ2.3821.857+0.525
TTM2.6501.823+0.827
YOY3.4221.867+1.555
5Y3.5051.865+1.640
10Y1.9851.650+0.335
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • A Quick Ratio of 1.53 means the company can pay off kr1.53 for each kr1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of RTX A/S:

  • The MRQ is 1.530. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 1.955. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ1.530TTM1.955-0.425
TTM1.955YOY2.791-0.836
TTM1.9555Y2.254-0.299
5Y2.25410Y1.718+0.537
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ1.5300.851+0.679
TTM1.9550.873+1.082
YOY2.7910.940+1.851
5Y2.2540.934+1.320
10Y1.7180.916+0.802

1.4. Solvency of RTX A/S.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Rtx to Communication Equipment industry mean.
  • A Debt to Asset Ratio of 0.43 means that Rtx assets are financed with 43.3% credit (debt) and the remaining percentage (100% - 43.3%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of RTX A/S:

  • The MRQ is 0.433. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.406. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.433TTM0.406+0.026
TTM0.406YOY0.354+0.052
TTM0.4065Y0.297+0.109
5Y0.29710Y0.265+0.032
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4330.477-0.044
TTM0.4060.474-0.068
YOY0.3540.457-0.103
5Y0.2970.444-0.147
10Y0.2650.457-0.192
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Rtx to the Communication Equipment industry mean.
  • A Debt to Equity ratio of 76.3% means that company has kr0.76 debt for each kr1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of RTX A/S:

  • The MRQ is 0.763. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.686. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.763TTM0.686+0.077
TTM0.686YOY0.553+0.132
TTM0.6865Y0.443+0.243
5Y0.44310Y0.374+0.069
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7630.876-0.113
TTM0.6860.908-0.222
YOY0.5530.844-0.291
5Y0.4430.843-0.400
10Y0.3740.910-0.536

2. Market Valuation of RTX A/S

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every kr1 in earnings Rtx generates.

  • Above 15 is considered overpriced but always compare Rtx to the Communication Equipment industry mean.
  • A PE ratio of 797.49 means the investor is paying kr797.49 for every kr1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of RTX A/S:

  • The EOD is 776.683. Seems overpriced? -1
  • The MRQ is 797.487. Seems overpriced? -1
  • The TTM is -67.104. Company is losing money. -2
Trends
Current periodCompared to+/- 
EOD776.683MRQ797.487-20.804
MRQ797.487TTM-67.104+864.592
TTM-67.104YOY217.780-284.884
TTM-67.1045Y113.968-181.072
5Y113.96810Y93.905+20.063
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
EOD776.68340.330+736.353
MRQ797.48739.103+758.384
TTM-67.10449.160-116.264
YOY217.78051.657+166.123
5Y113.96837.743+76.225
10Y93.90535.791+58.114
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Rtx.

  • 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 RTX A/S:

  • The MRQ is 300.410. Seems overpriced? -1
  • The TTM is -300.650. Very Bad. -2
Trends
Current periodCompared to+/- 
MRQ300.410TTM-300.650+601.060
TTM-300.650YOY-180.130-120.519
TTM-300.6505Y-85.353-215.296
5Y-85.35310Y-118.263+32.910
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
MRQ300.4100.605+299.805
TTM-300.6500.115-300.765
YOY-180.1300.157-180.287
5Y-85.3530.133-85.486
10Y-118.2630.208-118.471

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

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

  • At or below 1 is considered healthy (always compare to Communication Equipment industry mean).
  • A PB ratio of 3.88 means the investor is paying kr3.88 for each kr1 in book value.

Let's take a look of the Price to Book Ratio trends of RTX A/S:

  • The EOD is 3.781. Neutral. Compare to industry.
  • The MRQ is 3.882. Neutral. Compare to industry.
  • The TTM is 4.782. Neutral. Compare to industry.
Trends
Current periodCompared to+/- 
EOD3.781MRQ3.882-0.101
MRQ3.882TTM4.782-0.899
TTM4.782YOY5.660-0.879
TTM4.7825Y4.979-0.197
5Y4.97910Y3.686+1.293
Compared to industry (Communication Equipment)
PeriodCompanyIndustry (mean)+/- 
EOD3.7811.743+2.038
MRQ3.8821.829+2.053
TTM4.7821.996+2.786
YOY5.6602.019+3.641
5Y4.9791.918+3.061
10Y3.6861.591+2.095
2. Total Gains per Share

2.4. Latest News of RTX A/S

Does RTX A/S 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 RTX A/S to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2022-11-29
08:36
Strong Growth For RTX In 2021/22Read

3. Summary

3.1. Key Performance Indicators

The key performance indicators of RTX A/S 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--0.5001.027-51%-1.981+496%0.283+77%0.405+24%
Book Value Growth--0.8600.8620%0.849+1%0.858+0%0.860+0%
Book Value Per Share--35.54535.248+1%36.285-2%35.915-1%31.703+12%
Book Value Per Share Growth--0.0140.029-52%-0.062+541%0.006+143%0.013+11%
Current Ratio--2.3822.650-10%3.422-30%3.505-32%1.985+20%
Debt To Asset Ratio--0.4330.406+6%0.354+22%0.297+46%0.265+64%
Debt To Equity Ratio--0.7630.686+11%0.553+38%0.443+72%0.374+104%
Dividend Per Share----0%1.872-100%1.331-100%1.057-100%
Eps--0.1730.943-82%-0.234+235%1.289-87%1.318-87%
Eps Growth--2.655-1.955+174%1.935+37%-0.315+112%-0.235+109%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%0.975+3%
Net Profit Margin--0.0090.038-78%-0.079+1014%0.064-87%0.099-91%
Operating Margin--0.0360.058-38%-0.079+320%0.094-62%0.053-32%
Operating Ratio--1.5001.435+5%1.480+1%1.336+12%0.930+61%
Pb Ratio3.781-3%3.8824.782-19%5.660-31%4.979-22%3.686+5%
Pe Ratio776.683-3%797.487-67.104+108%217.780+266%113.968+600%93.905+749%
Peg Ratio--300.410-300.650+200%-180.130+160%-85.353+128%-118.263+139%
Price Per Share134.400-3%138.000168.450-18%204.700-33%178.090-23%124.753+11%
Price To Total Gains Ratio268.567-3%275.761-783.833+384%-113.105+141%23.661+1065%28.890+855%
Profit Growth--123.463-27.717+122%27.682+346%47.030+163%65.011+90%
Quick Ratio--1.5301.955-22%2.791-45%2.254-32%1.718-11%
Return On Assets--0.0030.016-83%-0.006+327%0.026-89%0.031-91%
Return On Equity--0.0050.027-82%-0.009+283%0.035-86%0.042-88%
Revenue Growth--0.8840.862+3%0.823+7%0.852+4%0.857+3%
Total Gains Per Share--0.5001.027-51%-0.109+122%1.614-69%1.462-66%
Total Gains Per Share Growth--1.194-7.635+740%-1.510+227%-4.936+514%-2.567+315%
Usd Book Value--41244657.00040899763.950+1%42581441.050-3%42946746.210-4%37575021.890+10%
Usd Book Value Change Per Share--0.0710.146-51%-0.281+496%0.040+77%0.057+24%
Usd Book Value Per Share--5.0404.998+1%5.145-2%5.093-1%4.495+12%
Usd Dividend Per Share----0%0.265-100%0.189-100%0.150-100%
Usd Eps--0.0250.134-82%-0.033+235%0.183-87%0.187-87%
Usd Price Per Share19.058-3%19.56823.886-18%29.026-33%25.253-23%17.690+11%
Usd Profit--200788.8001093845.200-82%-270058.100+234%1560026.880-87%1566574.495-87%
Usd Revenue--23361975.40021701178.350+8%15129705.500+54%18536514.310+26%15155268.495+54%
Usd Total Gains Per Share--0.0710.146-51%-0.015+122%0.229-69%0.207-66%
 EOD+3 -2MRQTTM+11 -21YOY+21 -135Y+12 -2210Y+16 -19

3.2. Fundamental Score

Let's check the fundamental score of RTX A/S based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15776.683
Price to Book Ratio (EOD)Between0-13.781
Net Profit Margin (MRQ)Greater than00.009
Operating Margin (MRQ)Greater than00.036
Quick Ratio (MRQ)Greater than11.530
Current Ratio (MRQ)Greater than12.382
Debt to Asset Ratio (MRQ)Less than10.433
Debt to Equity Ratio (MRQ)Less than10.763
Return on Equity (MRQ)Greater than0.150.005
Return on Assets (MRQ)Greater than0.050.003
Total6/10 (60.0%)

3.3. Technical Score

Let's check the technical score of RTX A/S based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5052.578
Ma 20Greater thanMa 50134.920
Ma 50Greater thanMa 100125.912
Ma 100Greater thanMa 200137.820
OpenGreater thanClose132.400
Total2/5 (40.0%)



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in DKK. All numbers in thousands.

Summary
Total Assets512,739
Total Liabilities221,874
Total Stockholder Equity290,865
 As reported
Total Liabilities 221,874
Total Stockholder Equity+ 290,865
Total Assets = 512,739

Assets

Total Assets512,739
Total Current Assets352,188
Long-term Assets352,188
Total Current Assets
Cash And Cash Equivalents 30,268
Short-term Investments 73,963
Net Receivables 152,308
Inventory 84,394
Total Current Assets  (as reported)352,188
Total Current Assets  (calculated)340,933
+/- 11,255
Long-term Assets
Property Plant Equipment 87,648
Goodwill 7,797
Intangible Assets 56,429
Other Assets 8,677
Long-term Assets  (as reported)160,551
Long-term Assets  (calculated)160,551
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities147,851
Long-term Liabilities74,023
Total Stockholder Equity290,865
Total Current Liabilities
Accounts payable 89,492
Other Current Liabilities 52,258
Total Current Liabilities  (as reported)147,851
Total Current Liabilities  (calculated)141,750
+/- 6,101
Long-term Liabilities
Capital Lease Obligations Min Short Term Debt60,098
Other Liabilities 20,026
Long-term Liabilities  (as reported)74,023
Long-term Liabilities  (calculated)80,124
+/- 6,101
Total Stockholder Equity
Common Stock42,339
Retained Earnings 69,770
Other Stockholders Equity 8,317
Total Stockholder Equity (as reported)290,865
Total Stockholder Equity (calculated)120,426
+/- 170,439
Other
Capital Stock42,339
Common Stock Shares Outstanding 8,183
Net Invested Capital 290,865
Net Tangible Assets 226,639
Net Working Capital 204,337



Balance Sheet

Currency in DKK. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-03-312003-09-302003-03-312002-09-302002-03-312001-09-302001-03-31
> Total Assets 
429,663
429,323
461,864
471,200
495,621
493,603
468,080
447,105
451,434
451,434
452,362
444,297
474,935
474,935
408,875
408,875
0
364,336
343,211
331,086
316,057
322,288
311,122
293,295
287,813
272,500
253,384
261,555
249,546
249,757
231,633
217,616
214,049
213,284
233,066
216,867
217,605
220,585
212,364
212,289
211,852
223,907
250,455
252,687
255,300
271,019
305,212
311,816
329,223
350,110
343,105
349,341
319,989
346,300
355,416
345,044
306,307
330,475
353,004
325,485
335,336
352,056
422,748
410,372
405,513
441,819
463,280
483,885
430,230
499,706
533,581
470,365
415,568
436,094
485,310
475,330
471,722
512,739
512,739471,722475,330485,310436,094415,568470,365533,581499,706430,230483,885463,280441,819405,513410,372422,748352,056335,336325,485353,004330,475306,307345,044355,416346,300319,989349,341343,105350,110329,223311,816305,212271,019255,300252,687250,455223,907211,852212,289212,364220,585217,605216,867233,066213,284214,049217,616231,633249,757249,546261,555253,384272,500287,813293,295311,122322,288316,057331,086343,211364,3360408,875408,875474,935474,935444,297452,362451,434451,434447,105468,080493,603495,621471,200461,864429,323429,663
   > Total Current Assets 
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
249,595
270,651
284,963
254,755
261,879
274,393
349,704
336,339
330,510
367,000
387,557
363,435
307,920
373,562
392,096
317,358
255,864
266,849
321,268
316,297
312,335
352,188
352,188312,335316,297321,268266,849255,864317,358392,096373,562307,920363,435387,557367,000330,510336,339349,704274,393261,879254,755284,963270,651249,59500000000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
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
51,027
17,501
32,045
28,941
19,045
29,973
62,073
69,483
18,357
36,868
73,556
55,864
21,230
57,490
40,785
52,160
8,997
15,926
19,461
27,199
21,124
30,268
30,26821,12427,19919,46115,9268,99752,16040,78557,49021,23055,86473,55636,86818,35769,48362,07329,97319,04528,94132,04517,50151,02700000000000000000000000000000000000000000000000000000000
       Short-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
0
0
0
0
0
0
0
0
0
18,305
18,352
18,392
0
0
0
0
0
152,759
153,086
153,149
152,437
151,024
153,042
154,010
154,881
114,293
101,838
100,952
101,448
97,192
73,963
73,96397,192101,448100,952101,838114,293154,881154,010153,042151,024152,437153,149153,086152,7590000018,39218,35218,30500000000000000000000000000000000000000000000000000000000
       Net Receivables 
68,338
61,385
52,250
63,100
49,668
51,865
46,004
66,366
102,873
102,873
117,040
110,061
121,066
121,066
105,328
105,328
0
84,501
68,338
53,546
54,590
75,004
83,207
57,962
68,980
70,043
62,881
63,067
61,248
58,175
57,200
42,243
40,709
45,538
59,354
44,059
44,732
47,573
46,540
44,212
56,608
54,476
55,620
54,300
55,267
55,404
58,374
64,489
66,345
74,168
57,566
68,161
66,427
77,248
84,713
102,213
75,413
105,254
106,981
86,032
98,842
103,735
142,063
123,733
120,359
129,397
116,720
128,945
114,011
139,184
177,967
85,217
101,296
120,942
164,530
137,009
127,182
152,308
152,308127,182137,009164,530120,942101,29685,217177,967139,184114,011128,945116,720129,397120,359123,733142,063103,73598,84286,032106,981105,25475,413102,21384,71377,24866,42768,16157,56674,16866,34564,48958,37455,40455,26754,30055,62054,47656,60844,21246,54047,57344,73244,05959,35445,53840,70942,24357,20058,17561,24863,06762,88170,04368,98057,96283,20775,00454,59053,54668,33884,5010105,328105,328121,066121,066110,061117,040102,873102,87366,36646,00451,86549,66863,10052,25061,38568,338
       Other Current Assets 
5,299
10,901
14,884
1,330
4,763
10,588
11,542
19,141
23,041
23,041
2,857
19,677
4,373
4,373
0
0
0
3,513
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
71,528
71,528
0
0
0
0
0
0
2,533
0
0
0
2,906
4,158
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000004,1582,9060002,53300000071,52871,528000000000000000000000000000000003,5130004,3734,37319,6772,85723,04123,04119,14111,54210,5884,7631,33014,88410,9015,299
   > Long-term Assets 
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
0
0
0
0
0
0
75,003
74,819
75,723
120,450
122,310
126,144
141,485
153,007
159,704
169,245
164,042
159,033
159,387
160,551
160,551159,387159,033164,042169,245159,704153,007141,485126,144122,310120,45075,72374,81975,0030000000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
57,124
70,213
110,384
108,720
107,592
104,419
103,242
102,036
99,367
99,367
98,446
98,446
97,438
97,438
103,046
103,046
0
98,725
95,813
94,206
90,622
88,395
87,463
86,384
84,658
83,313
82,429
80,966
80,417
79,773
78,790
78,276
78,391
77,854
77,238
77,242
76,772
76,389
75,883
75,693
75,092
74,443
74,140
74,887
75,396
74,827
75,822
75,535
75,447
74,584
3,788
4,856
5,060
4,834
7,434
11,158
12,797
12,014
12,244
12,769
13,784
14,748
15,491
14,933
14,416
14,579
14,753
55,579
54,371
53,815
65,141
73,599
78,236
86,486
85,763
84,705
85,710
87,648
87,64885,71084,70585,76386,48678,23673,59965,14153,81554,37155,57914,75314,57914,41614,93315,49114,74813,78412,76912,24412,01412,79711,1587,4344,8345,0604,8563,78874,58475,44775,53575,82274,82775,39674,88774,14074,44375,09275,69375,88376,38976,77277,24277,23877,85478,39178,27678,79079,77380,41780,96682,42983,31384,65886,38487,46388,39590,62294,20695,81398,7250103,046103,04697,43897,43898,44698,44699,36799,367102,036103,242104,419107,592108,720110,38470,21357,124
       Goodwill 
0
16,301
0
14,601
0
10,383
9,533
0
5,223
5,223
5,803
4,643
8,862
8,862
7,884
7,884
0
7,884
7,884
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,797
7,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,7977,8847,88407,8847,8848,8628,8624,6435,8035,2235,22309,53310,383014,601016,3010
       Intangible Assets 
526
16,601
16,399
14,801
11,251
10,483
9,583
0
10,351
10,351
12,747
11,587
14,214
14,214
11,645
11,645
0
10,053
9,743
9,501
9,346
9,191
9,036
8,881
8,898
8,754
8,417
8,262
8,107
7,952
10,617
13,608
17,957
21,312
22,037
23,078
26,213
26,684
25,841
25,093
21,669
18,998
17,546
15,919
14,292
12,665
11,924
11,509
11,830
12,387
11,478
10,606
9,812
9,588
10,349
11,868
16,444
20,817
26,880
30,105
35,855
31,966
35,460
38,129
41,324
44,546
43,601
47,475
50,534
55,004
58,803
63,515
65,907
66,868
62,194
58,157
57,224
56,429
56,42957,22458,15762,19466,86865,90763,51558,80355,00450,53447,47543,60144,54641,32438,12935,46031,96635,85530,10526,88020,81716,44411,86810,3499,5889,81210,60611,47812,38711,83011,50911,92412,66514,29215,91917,54618,99821,66925,09325,84126,68426,21323,07822,03721,31217,95713,60810,6177,9528,1078,2628,4178,7548,8988,8819,0369,1919,3469,5019,74310,053011,64511,64514,21414,21411,58712,74710,35110,35109,58310,48311,25114,80116,39916,601526
       Long-term Assets 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
0
0
0
0
0
0
0
0
75,003
74,819
75,723
120,450
122,310
0
0
0
0
0
0
0
0
0
000000000122,310120,45075,72374,81975,0030000000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
48,077
60,112
87,160
86,825
106,962
101,171
89,072
72,237
90,877
90,877
85,904
78,674
123,984
123,984
104,270
104,270
0
103,671
86,237
87,722
80,469
94,774
89,975
82,647
82,794
81,729
93,281
101,768
87,481
87,999
86,429
74,767
69,145
66,110
81,192
62,623
64,257
62,190
56,043
54,046
56,910
61,553
74,151
67,101
63,129
69,561
77,647
73,637
81,374
89,413
77,199
72,825
50,523
66,694
74,853
59,061
48,661
65,757
70,029
49,755
66,099
66,899
110,749
89,323
93,630
117,707
115,840
139,123
130,427
171,384
181,389
147,116
147,089
178,845
196,777
187,767
184,952
221,874
221,874184,952187,767196,777178,845147,089147,116181,389171,384130,427139,123115,840117,70793,63089,323110,74966,89966,09949,75570,02965,75748,66159,06174,85366,69450,52372,82577,19989,41381,37473,63777,64769,56163,12967,10174,15161,55356,91054,04656,04362,19064,25762,62381,19266,11069,14574,76786,42987,99987,481101,76893,28181,72982,79482,64789,97594,77480,46987,72286,237103,6710104,270104,270123,984123,98478,67485,90490,87790,87772,23789,072101,171106,96286,82587,16060,11248,077
   > Total Current Liabilities 
30,934
25,128
34,244
38,736
59,363
57,281
58,561
38,065
60,795
60,795
56,450
49,010
97,986
97,986
78,047
78,047
0
77,437
61,927
63,885
57,102
71,903
67,818
61,003
60,995
59,859
71,017
80,491
66,366
67,477
67,032
55,926
50,627
47,888
63,216
44,943
46,918
45,163
39,371
37,686
40,905
45,867
59,469
52,743
51,059
57,818
66,256
62,573
70,225
78,583
76,804
71,874
50,128
66,299
74,592
58,800
48,400
65,496
69,771
49,497
65,841
66,641
109,844
88,418
92,725
113,420
91,571
94,920
85,063
123,974
111,342
74,430
76,009
105,139
120,236
113,919
112,852
147,851
147,851112,852113,919120,236105,13976,00974,430111,342123,97485,06394,92091,571113,42092,72588,418109,84466,64165,84149,49769,77165,49648,40058,80074,59266,29950,12871,87476,80478,58370,22562,57366,25657,81851,05952,74359,46945,86740,90537,68639,37145,16346,91844,94363,21647,88850,62755,92667,03267,47766,36680,49171,01759,85960,99561,00367,81871,90357,10263,88561,92777,437078,04778,04797,98697,98649,01056,45060,79560,79538,06558,56157,28159,36338,73634,24425,12830,934
       Accounts payable 
10,640
4,821
8,493
8,012
7,527
7,066
10,355
13,255
21,224
21,224
11,729
11,729
32,434
32,434
22,782
22,782
0
16,342
24,839
13,812
21,629
22,454
17,325
19,239
17,074
17,191
17,288
21,592
22,417
28,378
27,743
19,134
20,304
19,886
29,658
14,093
21,527
20,679
13,985
12,714
15,912
16,415
23,008
21,344
17,109
23,078
26,607
28,674
32,523
33,712
26,178
32,238
18,825
32,517
37,157
31,671
22,800
38,058
38,607
22,850
33,931
26,422
69,360
45,987
42,324
57,002
44,449
38,584
26,293
56,382
50,849
26,818
32,597
37,747
61,562
53,971
53,469
89,492
89,49253,46953,97161,56237,74732,59726,81850,84956,38226,29338,58444,44957,00242,32445,98769,36026,42233,93122,85038,60738,05822,80031,67137,15732,51718,82532,23826,17833,71232,52328,67426,60723,07817,10921,34423,00816,41515,91212,71413,98520,67921,52714,09329,65819,88620,30419,13427,74328,37822,41721,59217,28817,19117,07419,23917,32522,45421,62913,81224,83916,342022,78222,78232,43432,43411,72911,72921,22421,22413,25510,3557,0667,5278,0128,4934,82110,640
       Other Current Liabilities 
19,795
19,390
23,645
22,559
46,425
48,074
46,454
23,021
37,743
37,743
40,406
32,966
37,881
37,881
33,461
33,461
0
38,175
30,167
31,401
29,571
43,699
41,417
34,128
36,788
37,594
37,521
37,546
31,714
34,029
33,486
27,377
28,196
26,350
32,216
27,298
24,166
23,256
24,136
23,718
23,709
28,166
35,158
30,094
30,788
31,582
36,493
30,739
36,394
43,574
50,626
39,636
31,303
33,782
37,435
27,129
25,600
27,438
31,164
26,647
31,910
40,219
13,487
42,431
50,401
56,418
30,445
50,340
52,618
61,732
25,509
42,404
38,604
61,597
8,337
54,007
53,409
52,258
52,25853,40954,0078,33761,59738,60442,40425,50961,73252,61850,34030,44556,41850,40142,43113,48740,21931,91026,64731,16427,43825,60027,12937,43533,78231,30339,63650,62643,57436,39430,73936,49331,58230,78830,09435,15828,16623,70923,71824,13623,25624,16627,29832,21626,35028,19627,37733,48634,02931,71437,54637,52137,59436,78834,12841,41743,69929,57131,40130,16738,175033,46133,46137,88137,88132,96640,40637,74337,74323,02146,45448,07446,42522,55923,64519,39019,795
   > Long-term Liabilities 
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
0
0
0
0
0
0
905
4,287
24,269
44,203
45,364
47,410
93,306
72,686
71,080
73,706
76,541
73,848
72,100
74,023
74,02372,10073,84876,54173,70671,08072,68693,30647,41045,36444,20324,2694,2879050000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
400
0
350
0
275
1,425
5,996
2,820
2,820
2,694
3,155
208
208
800
800
0
851
849
849
849
849
608
608
608
608
1,121
703
1,237
1,237
1,344
1,344
1,315
1,315
1,373
1,373
1,373
1,373
1,335
1,335
1,335
1,335
671
671
560
560
537
537
937
937
395
951
395
395
261
261
261
261
258
258
258
258
905
905
905
4,287
7,449
7,888
10,186
13,298
22,931
17,047
16,487
16,765
21,002
19,744
19,423
20,026
20,02619,42319,74421,00216,76516,48717,04722,93113,29810,1867,8887,4494,2879059059052582582582582612612612613953959513959379375375375605606716711,3351,3351,3351,3351,3731,3731,3731,3731,3151,3151,3441,3441,2371,2377031,12160860860860884984984984985108008002082083,1552,6942,8202,8205,9961,425275035004000
> Total Stockholder Equity
381,586
369,211
374,704
384,375
388,659
392,432
379,008
374,868
360,557
360,557
366,458
365,623
350,951
350,951
304,605
304,605
304,605
260,665
256,974
243,364
235,588
227,514
220,605
210,139
204,457
190,142
161,045
160,860
163,309
163,227
146,516
144,378
146,411
148,696
153,311
155,746
154,852
159,823
157,740
159,635
156,404
163,681
177,576
185,586
192,171
201,458
227,565
238,179
247,849
260,697
265,906
276,516
269,466
279,606
280,563
285,983
257,646
264,718
282,975
275,730
269,237
285,157
311,999
321,049
311,883
324,112
347,440
344,762
299,803
328,322
352,192
323,249
268,479
257,249
288,533
287,563
286,770
290,865
290,865286,770287,563288,533257,249268,479323,249352,192328,322299,803344,762347,440324,112311,883321,049311,999285,157269,237275,730282,975264,718257,646285,983280,563279,606269,466276,516265,906260,697247,849238,179227,565201,458192,171185,586177,576163,681156,404159,635157,740159,823154,852155,746153,311148,696146,411144,378146,516163,227163,309160,860161,045190,142204,457210,139220,605227,514235,588243,364256,974260,665304,605304,605304,605350,951350,951365,623366,458360,557360,557374,868379,008392,432388,659384,375374,704369,211381,586
   Common Stock
0
45,482
0
45,677
0
47,048
47,048
47,048
47,048
47,048
47,048
47,048
47,170
47,170
47,170
47,170
0
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,170
47,677
44,274
44,374
44,374
45,220
45,687
45,687
45,687
47,492
46,867
47,164
47,164
47,164
45,714
45,714
45,714
45,714
44,714
44,714
44,714
44,714
44,714
44,714
44,714
44,714
43,214
43,214
43,214
43,214
43,214
43,214
43,214
43,214
42,339
42,33943,21443,21443,21443,21443,21443,21443,21443,21444,71444,71444,71444,71444,71444,71444,71444,71445,71445,71445,71445,71447,16447,16447,16446,86747,49245,68745,68745,68745,22044,37444,37444,27447,67747,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,17047,170047,17047,17047,17047,17047,04847,04847,04847,04847,04847,04847,048045,677045,4820
   Retained Earnings 
40,564
27,577
34,004
43,494
48,114
46,663
33,257
29,117
14,806
14,806
20,707
19,872
2,605
2,605
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
-78,116
-51,719
-33,462
-40,707
-47,200
-11,924
14,918
23,968
14,802
27,031
50,359
47,681
2,722
81,394
99,678
71,897
16,411
5,225
35,837
34,308
32,797
69,770
69,77032,79734,30835,8375,22516,41171,89799,67881,3942,72247,68150,35927,03114,80223,96814,918-11,924-47,200-40,707-33,462-51,719-78,1160000000000000000000000000000000000000000002,6052,60519,87220,70714,80614,80629,11733,25746,66348,11443,49434,00427,57740,564
   Capital Surplus 000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock000000000000000000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
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
0
0
0
0
0
0
0
0
0
0
0
0
5,586
4,424
5,140
5,096
5,768
6,327
7,045
8,317
8,3177,0456,3275,7685,0965,1404,4245,5860000000000000000000000000000000000000000000000000000000000000000000000



Balance Sheet

Currency in DKK. All numbers in thousands.




Cash Flow

Currency in DKK. All numbers in thousands.