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UCB SA
Buy, Hold or Sell?

Should you buy, hold or sell Ucb?

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

Let's analyse Ucb

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

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is UCB SA even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how UCB SA is doing in the market. If the company is worth buying. The latest step is to find out how other investors value UCB SA. The closing price on 2023-01-27 was €75.34 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.
UCB SA Daily Candlestick Chart
UCB SA Daily Candlestick Chart
Summary









1. Valuation of Ucb




Current price per share

€75.34

2. Growth of Ucb




Is Ucb growing?

Current yearPrevious yearGrowGrow %
How rich?$9.1b$7.9b$1.2b13.3%

How much money is Ucb making?

Current yearPrevious yearGrowGrow %
Making money$1.1b$795.6m$354.3m30.8%
Net Profit Margin18.3%13.7%--

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

3. Financial Health of Ucb




Comparing to competitors in the Biotechnology industry




  Industry Rankings (Biotechnology)  


Richest
#38 / 1232

Most Revenue
#22 / 1232

Most Profit
#28 / 1232

Most Efficient
#127 / 1232


Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just 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 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 UCB SA.

1.1. Profitability
1.1.1. Net Profit Margin

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

  • Above 10% is considered healthy but always compare Ucb to the Biotechnology industry mean.
  • A Net Profit Margin of 18.3% means that €0.18 for each €1 in revenue is generated as profit.

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

  • The MRQ is 18.3%. The company is making a huge profit. +2
  • The TTM is 18.3%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ18.3%TTM18.3%0.0%
TTM18.3%YOY13.7%+4.6%
TTM18.3%5Y16.4%+1.9%
5Y16.4%10Y13.0%+3.4%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ18.3%-223.6%+241.9%
TTM18.3%-281.7%+300.0%
YOY13.7%-344.8%+358.5%
5Y16.4%-450.1%+466.5%
10Y13.0%-541.0%+554.0%
1.1.2. Return on Assets

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

  • Above 5% is considered healthy but always compare Ucb to the Biotechnology industry mean.
  • 7.4% Return on Assets means that Ucb generated €0.07 profit for each $1 in assets.

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

  • The MRQ is 7.4%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 7.4%. Using its assets, the company is efficient in making profit. +1
Trends
Current periodCompared to+/- 
MRQ7.4%TTM7.4%0.0%
TTM7.4%YOY5.5%+1.9%
TTM7.4%5Y7.1%+0.4%
5Y7.1%10Y5.3%+1.8%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ7.4%-9.9%+17.3%
TTM7.4%-8.9%+16.3%
YOY5.5%-9.3%+14.8%
5Y7.1%-11.7%+18.8%
10Y5.3%-12.7%+18.0%
1.1.3. Return on Equity

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

  • Above 15%-20% is considered healthy but always compare Ucb to the Biotechnology industry mean.
  • 12.6% Return on Equity means Ucb generated €0.13 for each €1 the owners (shareholders) invested.

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

  • The MRQ is 12.6%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 12.6%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ12.6%TTM12.6%0.0%
TTM12.6%YOY10.1%+2.5%
TTM12.6%5Y11.9%+0.7%
5Y11.9%10Y9.4%+2.5%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ12.6%-12.0%+24.6%
TTM12.6%-11.5%+24.1%
YOY10.1%-10.8%+20.9%
5Y11.9%-14.2%+26.1%
10Y9.4%-15.2%+24.6%

1.2. Operating Efficiency of UCB SA.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Ucb is operating .

  • Measures how much profit Ucb 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 Ucb to the Biotechnology industry mean.
  • An Operating Margin of 22.0% means the company generated €0.22  for each €1 in revenue (before taxes).

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

  • The MRQ is 22.0%. The company is operating efficient. +1
  • The TTM is 22.0%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ22.0%TTM22.0%0.0%
TTM22.0%YOY17.2%+4.8%
TTM22.0%5Y21.0%+1.0%
5Y21.0%10Y18.1%+2.9%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ22.0%-207.3%+229.3%
TTM22.0%-271.0%+293.0%
YOY17.2%-325.9%+343.1%
5Y21.0%-454.0%+475.0%
10Y18.1%-537.1%+555.2%
1.2.2. Operating Ratio

Measures how efficient Ucb is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Biotechnology industry mean).
  • An Operation Ratio of 0.77 means that the operating costs are €0.77 for each €1 in net sales.

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

  • The MRQ is 0.771. The company is efficient in keeping operating costs low. +1
  • The TTM is 0.771. The company is efficient in keeping operating costs low. +1
Trends
Current periodCompared to+/- 
MRQ0.771TTM0.7710.000
TTM0.771YOY0.794-0.023
TTM0.7715Y0.769+0.002
5Y0.76910Y0.803-0.034
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7712.871-2.100
TTM0.7713.504-2.733
YOY0.7943.604-2.810
5Y0.7695.132-4.363
10Y0.8036.371-5.568

1.3. Liquidity of UCB SA.

1.3. Liquidity
1.3.1. Current Ratio

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

  • Above 1.5 is considered healthy (always compare to Biotechnology industry mean).
  • A Current Ratio of 1.31 means the company has €1.31 in assets for each €1 in short-term debts.

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

  • The MRQ is 1.314. The company is just able to pay all its short-term debts.
  • The TTM is 1.314. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ1.314TTM1.3140.000
TTM1.314YOY1.273+0.041
TTM1.3145Y1.331-0.017
5Y1.33110Y1.166+0.165
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3145.117-3.803
TTM1.3145.755-4.441
YOY1.2735.854-4.581
5Y1.3316.511-5.180
10Y1.1666.222-5.056
1.3.2. Quick Ratio

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

  • Above 1 is considered healthy but always compare Ucb to the Biotechnology industry mean.
  • A Quick Ratio of 1.00 means the company can pay off €1.00 for each €1 in debt (using most liquid assets).

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

  • The MRQ is 0.999. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.999. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.999TTM0.9990.000
TTM0.999YOY0.941+0.058
TTM0.9995Y0.992+0.007
5Y0.99210Y0.815+0.177
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9994.284-3.285
TTM0.9994.664-3.665
YOY0.9414.787-3.846
5Y0.9925.218-4.226
10Y0.8155.182-4.367

1.4. Solvency of UCB SA.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

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

  • Below 1 (100%) is considered healthy but always compare Ucb to Biotechnology industry mean.
  • A Debt to Asset Ratio of 0.41 means that Ucb assets are financed with 41.0% credit (debt) and the remaining percentage (100% - 41.0%) is financed by its owners/shareholders. 

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

  • The MRQ is 0.410. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.410. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.410TTM0.4100.000
TTM0.410YOY0.454-0.044
TTM0.4105Y0.412-0.002
5Y0.41210Y0.458-0.047
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4100.278+0.132
TTM0.4100.277+0.133
YOY0.4540.306+0.148
5Y0.4120.367+0.045
10Y0.4580.403+0.055
1.4.2. Debt to Equity Ratio

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

  • Below 2 is considered healthy but always compare Ucb to the Biotechnology industry mean.
  • A Debt to Equity ratio of 69.4% means that company has €0.69 debt for each €1 in shareholders equity.

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

  • The MRQ is 0.694. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.694. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.694TTM0.6940.000
TTM0.694YOY0.832-0.137
TTM0.6945Y0.700-0.005
5Y0.70010Y0.855-0.155
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6940.315+0.379
TTM0.6940.317+0.377
YOY0.8320.319+0.513
5Y0.7000.403+0.297
10Y0.8550.462+0.393

2. Market Valuation of UCB SA

2. Earnings Per Share
2.1. Price to Earnings Ratio

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

  • Above 15 is considered overpriced but always compare Ucb to the Biotechnology industry mean.
  • A PE ratio of 18.02 means the investor is paying €18.02 for every €1 in earnings.

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

  • The EOD is 13.527. Very good. +2
  • The MRQ is 18.017. Very good. +2
  • The TTM is 18.017. Very good. +2
Trends
Current periodCompared to+/- 
EOD13.527MRQ18.017-4.490
MRQ18.017TTM18.0170.000
TTM18.017YOY21.923-3.906
TTM18.0175Y18.114-0.097
5Y18.11410Y32.435-14.321
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD13.527-8.986+22.513
MRQ18.017-9.792+27.809
TTM18.017-16.243+34.260
YOY21.923-20.876+42.799
5Y18.114-16.665+34.779
10Y32.435-14.732+47.167
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Ucb.

  • 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 UCB SA:

  • The MRQ is 12.466. Seems overpriced? -1
  • The TTM is 12.466. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ12.466TTM12.4660.000
TTM12.466YOY23.720-11.254
TTM12.4665Y16.165-3.700
5Y16.16510Y39.096-22.931
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ12.466-0.032+12.498
TTM12.4660.004+12.462
YOY23.7200.016+23.704
5Y16.1650.006+16.159
10Y39.0960.003+39.093

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

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

  • At or below 1 is considered healthy (always compare to Biotechnology industry mean).
  • A PB ratio of 2.27 means the investor is paying €2.27 for each €1 in book value.

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

  • The EOD is 1.707. Good. +1
  • The MRQ is 2.273. Good. +1
  • The TTM is 2.273. Good. +1
Trends
Current periodCompared to+/- 
EOD1.707MRQ2.273-0.567
MRQ2.273TTM2.2730.000
TTM2.273YOY2.207+0.066
TTM2.2735Y2.152+0.121
5Y2.15210Y2.222-0.071
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD1.7071.835-0.128
MRQ2.2732.006+0.267
TTM2.2732.774-0.501
YOY2.2073.453-1.246
5Y2.1522.713-0.561
10Y2.2222.402-0.180
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of UCB SA compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--5.8645.8640%1.385+324%3.063+91%1.876+213%
Book Value Growth--1.1531.1530%1.038+11%1.090+6%1.059+9%
Book Value Per Share--44.14644.1460%38.282+15%36.490+21%31.437+40%
Book Value Per Share Growth--1.1531.1530%1.038+11%1.090+6%1.059+9%
Current Ratio--1.3141.3140%1.273+3%1.331-1%1.166+13%
Debt To Asset Ratio--0.4100.4100%0.454-10%0.4120%0.458-11%
Debt To Equity Ratio--0.6940.6940%0.832-16%0.700-1%0.855-19%
Dividend Per Share--1.2631.2630%1.237+2%1.202+5%1.172+8%
Dividend Per Share Growth--1.0211.0210%1.031-1%1.008+1%1.032-1%
Eps--5.5705.5700%3.853+45%4.354+28%3.083+81%
Eps Growth--1.4451.4450%0.924+56%1.174+23%1.458-1%
Free Cash Flow Per Share--5.5805.5800%3.853+45%4.049+38%2.456+127%
Free Cash Flow Per Share Growth--1.4481.4480%1.245+16%1.401+3%1.902-24%
Free Cash Flow To Equity Per Share---0.311-0.3110%10.050-103%2.484-113%0.713-144%
Free Cash Flow To Equity Per Share Growth---0.031-0.0310%114.294-100%23.434-100%12.174-100%
Gross Profit Margin---0.272-0.2720%-0.668+145%-0.359+32%-1.107+307%
Intrinsic Value_10Y_max--78.001--------
Intrinsic Value_10Y_min--53.289--------
Intrinsic Value_1Y_max--6.076--------
Intrinsic Value_1Y_min--4.516--------
Intrinsic Value_3Y_max--19.582--------
Intrinsic Value_3Y_min--14.362--------
Intrinsic Value_5Y_max--34.687--------
Intrinsic Value_5Y_min--25.003--------
Net Profit Margin--0.1830.1830%0.137+34%0.164+12%0.130+41%
Operating Margin--0.2200.2200%0.172+28%0.210+5%0.181+21%
Operating Ratio--0.7710.7710%0.794-3%0.769+0%0.803-4%
Pb Ratio1.707-33%2.2732.2730%2.207+3%2.152+6%2.222+2%
Pe Ratio13.527-33%18.01718.0170%21.923-18%18.114-1%32.435-44%
Peg Ratio--12.46612.4660%23.720-47%16.165-23%39.096-68%
Price Per Share75.340-33%100.350100.3500%84.480+19%78.642+28%69.791+44%
Price To Total Gains Ratio10.570-33%14.07914.0790%32.224-56%20.941-33%-1.591+111%
Profit Growth--1.4451.4450%0.924+56%1.174+23%1.259+15%
Quick Ratio--0.9990.9990%0.941+6%0.992+1%0.815+23%
Return On Assets--0.0740.0740%0.055+35%0.071+5%0.053+41%
Return On Equity--0.1260.1260%0.101+25%0.119+6%0.094+34%
Revenue Growth--1.0801.0800%1.088-1%1.067+1%1.061+2%
Total Gains Per Share--7.1287.1280%2.622+172%4.265+67%3.047+134%
Total Gains Per Share Growth--2.7192.7190%0.507+436%1.809+50%2.270+20%
Usd Book Value--9114743400.0009114743400.0000%7903936800.000+15%7533956040.000+21%6490749420.000+40%
Usd Book Value Change Per Share--6.3746.3740%1.505+324%3.329+91%2.039+213%
Usd Book Value Per Share--47.98347.9830%41.609+15%39.661+21%34.169+40%
Usd Dividend Per Share--1.3731.3730%1.345+2%1.307+5%1.274+8%
Usd Eps--6.0546.0540%4.188+45%4.732+28%3.351+81%
Usd Free Cash Flow--1152114000.0001152114000.0000%795610800.000+45%836043480.000+38%507038850.000+127%
Usd Free Cash Flow Per Share--6.0656.0650%4.188+45%4.401+38%2.669+127%
Usd Free Cash Flow To Equity Per Share---0.338-0.3380%10.923-103%2.700-113%0.775-144%
Usd Price Per Share81.887-33%109.070109.0700%91.821+19%85.476+28%75.856+44%
Usd Profit--1149940200.0001149940200.0000%795610800.000+45%898866300.000+28%646705500.000+78%
Usd Revenue--6279021300.0006279021300.0000%5811654300.000+8%5477758620.000+15%4724754300.000+33%
Usd Total Gains Per Share--7.7477.7470%2.849+172%4.636+67%3.312+134%
 EOD+3 -2MRQTTM+0 -0YOY+35 -85Y+35 -810Y+35 -8

3.2. Fundamental Score

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

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1513.527
Price to Book Ratio (EOD)Between0-11.707
Net Profit Margin (MRQ)Greater than00.183
Operating Margin (MRQ)Greater than00.220
Quick Ratio (MRQ)Greater than10.999
Current Ratio (MRQ)Greater than11.314
Debt to Asset Ratio (MRQ)Less than10.410
Debt to Equity Ratio (MRQ)Less than10.694
Return on Equity (MRQ)Greater than0.150.126
Return on Assets (MRQ)Greater than0.050.074
Total7/10 (70.0%)

3.3. Technical Score

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

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5045.693
Ma 20Greater thanMa 5077.138
Ma 50Greater thanMa 10075.453
Ma 100Greater thanMa 20074.184
OpenGreater thanClose74.880
Total2/5 (40.0%)



Reversals in quarterly reports

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

 2017-12-312018-12-312019-12-312020-12-312021-12-31
Other Stockholders Equity  -612,000-86,000-698,000159,000-539,000-267,000-806,0002,314,0001,508,000



Latest Balance Sheet

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

Summary
Total Assets14,210,000
Total Liabilities5,824,000
Total Stockholder Equity8,386,000
 As reported
Total Liabilities 5,824,000
Total Stockholder Equity+ 8,386,000
Total Assets = 14,210,000

Assets

Total Assets14,210,000
Total Current Assets3,710,000
Long-term Assets3,710,000
Total Current Assets
Cash And Cash Equivalents 1,263,000
Short-term Investments 212,000
Net Receivables 1,134,000
Inventory 878,000
Total Current Assets  (as reported)3,710,000
Total Current Assets  (calculated)3,487,000
+/- 223,000
Long-term Assets
Property Plant Equipment 1,275,000
Goodwill 5,173,000
Intangible Assets 3,159,000
Other Assets 763,000
Long-term Assets  (as reported)10,500,000
Long-term Assets  (calculated)10,370,000
+/- 130,000

Liabilities & Shareholders' Equity

Total Current Liabilities2,824,000
Long-term Liabilities3,000,000
Total Stockholder Equity8,386,000
Total Current Liabilities
Short-term Debt 55,000
Short Long Term Debt 17,000
Accounts payable 596,000
Other Current Liabilities 2,111,000
Total Current Liabilities  (as reported)2,824,000
Total Current Liabilities  (calculated)2,779,000
+/- 45,000
Long-term Liabilities
Long term Debt 1,971,000
Capital Lease Obligations Min Short Term Debt80,000
Other Liabilities 932,000
Long-term Liabilities Other 1,000
Long-term Liabilities  (as reported)3,000,000
Long-term Liabilities  (calculated)2,984,000
+/- 16,000
Total Stockholder Equity
Common Stock584,000
Retained Earnings 6,294,000
Other Stockholders Equity 1,508,000
Total Stockholder Equity (as reported)8,386,000
Total Stockholder Equity (calculated)8,386,000
+/-0
Other
Capital Stock584,000
Cash and Short Term Investments 1,475,000
Common Stock Shares Outstanding 97,123
Liabilities and Stockholders Equity 14,210,000
Net Debt 860,000
Net Invested Capital 10,374,000
Net Tangible Assets 54,000
Net Working Capital 886,000
Short Long Term Debt Total 2,123,000



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-312001-12-312000-12-31
> Total Assets 
2,303,136
2,563,854
2,620,935
3,090,935
5,373,540
4,717,000
10,498,000
9,555,000
9,524,000
9,120,000
8,969,000
9,178,000
9,360,000
9,907,000
10,148,000
10,956,000
10,212,000
9,917,000
10,514,000
11,081,000
13,319,000
14,210,000
14,210,00013,319,00011,081,00010,514,0009,917,00010,212,00010,956,00010,148,0009,907,0009,360,0009,178,0008,969,0009,120,0009,524,0009,555,00010,498,0004,717,0005,373,5403,090,9352,620,9352,563,8542,303,136
   > Total Current Assets 
0
0
1,731,644
1,789,831
1,911,978
1,303,000
2,355,000
1,655,000
1,837,000
1,794,000
1,731,000
1,706,000
1,822,000
2,421,000
2,501,000
2,838,000
2,331,000
2,677,000
2,950,000
3,295,000
3,582,000
3,710,000
3,710,0003,582,0003,295,0002,950,0002,677,0002,331,0002,838,0002,501,0002,421,0001,822,0001,706,0001,731,0001,794,0001,837,0001,655,0002,355,0001,303,0001,911,9781,789,8311,731,64400
       Cash And Cash Equivalents 
109,031
88,782
482,376
449,199
148,369
424,000
974,000
479,000
463,000
486,000
494,000
267,000
318,000
740,000
507,000
1,285,000
761,000
1,049,000
1,262,000
1,288,000
1,336,000
1,263,000
1,263,0001,336,0001,288,0001,262,0001,049,000761,0001,285,000507,000740,000318,000267,000494,000486,000463,000479,000974,000424,000148,369449,199482,37688,782109,031
       Short-term Investments 
266,929
339,054
420,732
359,051
400,359
0
0
96,000
3,000
53,000
61,000
38,000
8,000
24,000
20,000
19,000
38,000
63,000
94,000
139,000
186,000
212,000
212,000186,000139,00094,00063,00038,00019,00020,00024,0008,00038,00061,00053,0003,00096,00000400,359359,051420,732339,054266,929
       Net Receivables 
741,773
822,046
755,374
845,391
792,625
528,000
854,000
741,000
835,000
806,000
690,000
832,000
813,000
926,000
675,000
562,000
820,000
738,000
821,000
880,000
939,000
1,134,000
1,134,000939,000880,000821,000738,000820,000562,000675,000926,000813,000832,000690,000806,000835,000741,000854,000528,000792,625845,391755,374822,046741,773
       Other Current Assets 
44,898
27,990
475,832
936,686
1,386,551
618,000
949,000
773,000
1,011,000
850,000
742,000
864,000
880,000
1,030,000
1,427,000
968,000
954,000
968,000
947,000
1,088,000
1,206,000
1,357,000
1,357,0001,206,0001,088,000947,000968,000954,000968,0001,427,0001,030,000880,000864,000742,000850,0001,011,000773,000949,000618,0001,386,551936,686475,83227,99044,898
   > Long-term Assets 
0
0
889,291
1,301,104
3,461,562
3,414,000
8,143,000
7,900,000
7,687,000
7,326,000
7,238,000
7,472,000
7,538,000
7,486,000
7,647,000
8,118,000
7,881,000
7,240,000
7,564,000
7,785,000
9,737,000
10,500,000
10,500,0009,737,0007,785,0007,564,0007,240,0007,881,0008,118,0007,647,0007,486,0007,538,0007,472,0007,238,0007,326,0007,687,0007,900,0008,143,0003,414,0003,461,5621,301,104889,29100
       Property Plant Equipment 
495,978
580,258
589,413
726,458
699,906
500,000
666,000
758,000
623,000
534,000
505,000
500,000
602,000
722,000
686,000
651,000
678,000
673,000
805,000
840,000
1,035,000
1,275,000
1,275,0001,035,000840,000805,000673,000678,000651,000686,000722,000602,000500,000505,000534,000623,000758,000666,000500,000699,906726,458589,413580,258495,978
       Goodwill 
22,387
51,184
43,922
221,759
2,266,446
1,663,000
4,346,000
4,403,000
4,579,000
4,552,000
4,718,000
4,799,000
4,823,000
4,694,000
4,882,000
5,164,000
5,178,000
4,838,000
4,970,000
5,059,000
4,964,000
5,173,000
5,173,0004,964,0005,059,0004,970,0004,838,0005,178,0005,164,0004,882,0004,694,0004,823,0004,799,0004,718,0004,552,0004,579,0004,403,0004,346,0001,663,0002,266,446221,75943,92251,18422,387
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
79,000
92,000
113,000
103,000
166,000
127,000
140,000
0
0
00140,000127,000166,000103,000113,00092,00079,0000000000000000
       Intangible Assets 
96,750
96,566
254,829
462,960
595,071
721,000
2,537,000
2,293,000
2,169,000
1,953,000
1,641,000
1,525,000
1,483,000
1,462,000
1,219,000
1,055,000
875,000
817,000
870,000
839,000
2,973,000
3,159,000
3,159,0002,973,000839,000870,000817,000875,0001,055,0001,219,0001,462,0001,483,0001,525,0001,641,0001,953,0002,169,0002,293,0002,537,000721,000595,071462,960254,82996,56696,750
       Long-term Assets Other 
0
0
634,462
111,686
2,166,585
354,000
484,000
106,000
155,000
65,000
79,000
63,000
48,000
55,000
106,000
282,000
132,000
139,000
164,000
200,000
236,000
261,000
261,000236,000200,000164,000139,000132,000282,000106,00055,00048,00063,00079,00065,000155,000106,000484,000354,0002,166,585111,686634,46200
> Total Liabilities 
1,097,362
1,173,637
1,055,655
1,307,166
3,408,586
2,308,000
5,720,000
5,291,000
5,507,000
4,703,000
4,377,000
4,355,000
4,767,000
5,305,000
5,306,000
5,410,000
4,735,000
4,181,000
4,259,000
4,072,000
6,047,000
5,824,000
5,824,0006,047,0004,072,0004,259,0004,181,0004,735,0005,410,0005,306,0005,305,0004,767,0004,355,0004,377,0004,703,0005,507,0005,291,0005,720,0002,308,0003,408,5861,307,1661,055,6551,173,6371,097,362
   > Total Current Liabilities 
718,016
724,931
854,097
744,129
2,791,317
707,000
1,521,000
1,886,000
2,554,000
2,062,000
1,853,000
1,612,000
1,808,000
2,336,000
2,336,000
3,061,000
2,418,000
1,949,000
2,238,000
2,394,000
2,814,000
2,824,000
2,824,0002,814,0002,394,0002,238,0001,949,0002,418,0003,061,0002,336,0002,336,0001,808,0001,612,0001,853,0002,062,0002,554,0001,886,0001,521,000707,0002,791,317744,129854,097724,931718,016
       Short-term Debt 
0
0
0
98,354
1,970,716
31,000
65,000
514,000
917,000
566,000
308,000
45,000
197,000
723,000
373,000
623,000
27,000
39,000
149,000
306,000
431,000
55,000
55,000431,000306,000149,00039,00027,000623,000373,000723,000197,00045,000308,000566,000917,000514,00065,00031,0001,970,71698,354000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
2,750,000
194,000
707,000
25,000
37,000
111,000
268,000
396,000
17,000
17,000396,000268,000111,00037,00025,000707,000194,0002,750,0000000000000000
       Accounts payable 
253,057
234,467
210,345
305,345
397,544
525,000
1,142,000
1,108,000
1,159,000
1,036,000
1,172,000
1,294,000
261,000
247,000
312,000
342,000
274,000
281,000
364,000
403,000
513,000
596,000
596,000513,000403,000364,000281,000274,000342,000312,000247,000261,0001,294,0001,172,0001,036,0001,159,0001,108,0001,142,000525,000397,544305,345210,345234,467253,057
       Other Current Liabilities 
293,130
327,426
854,097
340,430
423,057
151,000
314,000
264,000
478,000
460,000
373,000
273,000
1,350,000
1,366,000
1,651,000
2,096,000
2,117,000
1,629,000
1,549,000
1,561,000
1,768,000
2,111,000
2,111,0001,768,0001,561,0001,549,0001,629,0002,117,0002,096,0001,651,0001,366,0001,350,000273,000373,000460,000478,000264,000314,000151,000423,057340,430854,097327,426293,130
   > Long-term Liabilities 
0
0
201,558
563,037
617,269
1,601,000
4,199,000
3,405,000
2,953,000
2,641,000
2,524,000
2,743,000
2,959,000
2,969,000
2,970,000
2,349,000
2,317,000
2,232,000
2,021,000
1,678,000
3,233,000
3,000,000
3,000,0003,233,0001,678,0002,021,0002,232,0002,317,0002,349,0002,970,0002,969,0002,959,0002,743,0002,524,0002,641,0002,953,0003,405,0004,199,0001,601,000617,269563,037201,55800
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,585,000
1,574,000
1,534,000
1,350,000
975,000
0
0
00975,0001,350,0001,534,0001,574,0001,585,000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
-98,354
-1,970,716
-31,000
-65,000
-514,000
-917,000
-566,000
-308,000
-45,000
-197,000
-723,000
-373,000
-623,000
-20,000
-34,000
-48,000
-207,000
-321,000
80,000
80,000-321,000-207,000-48,000-34,000-20,000-623,000-373,000-723,000-197,000-45,000-308,000-566,000-917,000-514,000-65,000-31,000-1,970,716-98,354000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
33,000
0
0
0
0
1,000
1,000000033,0000000000000000000
> Total Stockholder Equity
1,188,843
1,382,174
1,545,030
1,783,769
1,954,466
2,409,000
4,574,000
4,263,000
4,013,000
4,415,000
4,590,000
4,821,000
4,594,000
4,603,000
5,002,000
5,672,000
5,584,000
5,813,000
6,310,000
7,039,000
7,271,000
8,386,000
8,386,0007,271,0007,039,0006,310,0005,813,0005,584,0005,672,0005,002,0004,603,0004,594,0004,821,0004,590,0004,415,0004,013,0004,263,0004,574,0002,409,0001,954,4661,783,7691,545,0301,382,1741,188,843
   Common Stock
437,799
437,799
437,799
437,799
437,799
438,000
2,148,000
2,151,000
2,151,000
2,151,000
550,000
2,151,000
2,151,000
2,154,000
2,614,000
2,614,000
2,614,000
2,614,000
2,614,000
2,614,000
2,614,000
584,000
584,0002,614,0002,614,0002,614,0002,614,0002,614,0002,614,0002,614,0002,154,0002,151,0002,151,000550,0002,151,0002,151,0002,151,0002,148,000438,000437,799437,799437,799437,799437,799
   Retained Earnings Total Equity0000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,030,000
2,030,000
2,030,000
2,030,000
2,030,000
0
0
002,030,0002,030,0002,030,0002,030,0002,030,000000000000000000
   Treasury Stock00-377,000-342,000-357,000-283,000-295,000-173,000-168,000-239,000-262,000-125,000-125,000-125,000-127,000-124,000-95,00000000
   Other Stockholders Equity 
0
0
1,107,231
1,345,970
1,516,667
-169,000
39,000
-281,000
-414,000
-366,000
0
56,000
-226,000
-211,000
-127,000
143,000
-293,000
-612,000
-698,000
-539,000
-806,000
1,508,000
1,508,000-806,000-539,000-698,000-612,000-293,000143,000-127,000-211,000-226,00056,0000-366,000-414,000-281,00039,000-169,0001,516,6671,345,9701,107,23100



Balance Sheet

Currency in EUR. All numbers in thousands.




Cash Flow

Currency in EUR. All numbers in thousands.




Income Statement

Currency in EUR. All numbers in thousands.