Documente Academic
Documente Profesional
Documente Cultură
2008/12
2009/12
2010/12
2011/12
INDICATORS
Year End Date
2007/12
2008/12
2009/12
2010/12
2011/12
2008-10-14
2009-03-02
2010-02-11
2011-02-11
2012-02-13
Quarterly Indicator
Template Indicator
Preliminary Full Context Ind
0000-00-00
0000-00-00
0000-00-00
0000-00-00
0000-00-00
12
12
12
12
12
Operating Revenue
105,216.0
124,936.0
65,110.0
78,025.0
93,973.0
Total Revenue
105,216.0
124,936.0
65,110.0
78,025.0
93,973.0
0.0
0.0
0.0
0.0
0.0
Cost Of Sales
80,383.0
100,010.0
58,019.0
66,689.0
80,850.0
84,953.0
106,110.0
62,913.0
71,084.0
85,519.0
Gross Margin
24,833.0
24,926.0
7,091.0
11,336.0
13,123.0
24,833.0
24,926.0
7,091.0
11,336.0
13,123.0
0.0
0.0
0.0
0.0
0.0
5,433.0
6,590.0
3,875.0
3,336.0
3,556.0
INCOME STATEMENT
Adjustments To Revenue
0.0
0.0
0.0
0.0
0.0
Operating Income
14,830.0
12,236.0
-1,678.0
3,605.0
4,898.0
EBITDA
19,400.0
18,336.0
3,216.0
8,000.0
9,567.0
4,570.0
6,100.0
4,894.0
4,395.0
4,669.0
Depreciation (Unrecognized)
0.0
0.0
0.0
0.0
0.0
Amortization
0.0
0.0
0.0
0.0
0.0
Amortization Of Intangibles
0.0
0.0
0.0
0.0
0.0
14,830.0
12,236.0
-1,678.0
3,605.0
4,898.0
Interest Income
577.0
497.0
190.0
133.0
0.0
985.0
1,653.0
0.0
0.0
620.0
Depreciation
335.0
-333.0
-1,253.0
-304.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
16,727.0
14,053.0
-2,741.0
3,434.0
5,518.0
Interest Expense
1,839.0
2,516.0
1,696.0
1,578.0
2,838.0
Pre-Tax Income
EBIT
14,888.0
11,537.0
-4,437.0
1,856.0
2,680.0
Income Taxes
3,038.0
1,098.0
-4,512.0
-1,479.0
882.0
Minority Interest
1,482.0
1,040.0
-43.0
89.0
-4.0
0.0
0.0
0.0
0.0
0.0
14,888.0
11,537.0
-4,437.0
1,856.0
2,680.0
10,368.0
9,399.0
118.0
3,335.0
1,798.0
0.0
0.0
0.0
-330.0
461.0
10,368.0
9,399.0
118.0
3,005.0
2,259.0
Extraordinary Income/Losses
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Other Gains/Losses
0.0
0.0
0.0
0.0
0.0
10,368.0
9,399.0
118.0
2,916.0
2,263.0
Normalized Income
10,368.0
9,399.0
118.0
3,335.0
1,798.0
10,368.0
9,399.0
118.0
3,335.0
1,798.0
Preferred Dividends
0.0
0.0
0.0
0.0
0.0
Excise Taxes
0.0
0.0
0.0
0.0
0.0
7.41
6.80
0.08
2.15
1.16
0.00
0.00
0.00
-0.22
0.30
7.41
6.80
0.08
1.93
1.46
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
7.41
6.80
0.08
1.93
1.46
7.41
6.80
0.08
2.15
1.16
7.40
6.78
0.08
1.92
0.90
0.00
0.00
0.00
-0.31
0.29
7.40
6.78
0.08
1.61
1.19
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.11
0.00
7.40
6.78
0.08
1.72
1.19
7.40
6.78
0.08
1.92
0.90
1.15
1.39
0.64
0.64
0.64
105,216.0
124,936.0
65,110.0
78,025.0
93,973.0
10,368.0
9,399.0
118.0
3,005.0
2,259.0
7.40
6.78
0.08
1.61
1.19
1.15
1.39
0.64
0.64
0.64
7,860.0
7,576.0
5,919.0
6,207.0
3,821.0
84.0
BALANCE SHEET
ASSETS
Cash & Equivalents
Restricted Cash
245.0
11.0
90.0
82.0
Marketable Securities
0.0
0.0
0.0
0.0
0.0
Accounts Receivable
9,533.0
6,737.0
5,750.0
5,725.0
6,452.0
Loans Receivable
0.0
0.0
0.0
0.0
0.0
Other Receivable
0.0
2,595.0
0.0
0.0
0.0
Receivables
9,533.0
9,332.0
5,750.0
5,725.0
6,452.0
6,739.0
9,771.0
5,921.0
7,263.0
9,802.0
4,582.0
4,501.0
3,513.0
4,038.0
4,531.0
0.0
0.0
2,010.0
1,961.0
0.0
8,108.0
7,788.0
5,391.0
6,321.0
7,356.0
Inventories, Other
2,321.0
2,681.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21,750.0
24,741.0
16,835.0
19,583.0
21,689.0
2,277.0
0.0
4,212.0
4,160.0
3,559.0
0.0
0.0
0.0
0.0
0.0
3,663.0
2,754.0
1.0
6,918.0
0.0
45,328.0
44,414.0
32,807.0
42,675.0
35,605.0
19,170.0
19,716.0
20,835.0
18,892.0
19,331.0
0.0
0.0
0.0
0.0
0.0
55,100.0
53,494.0
59,620.0
56,150.0
56,075.0
3,779.0
4,033.0
3,449.0
3,836.0
5,086.0
0.0
0.0
0.0
0.0
0.0
78,049.0
77,243.0
83,904.0
78,878.0
80,492.0
78,049.0
77,243.0
83,904.0
78,878.0
80,492.0
Accumulated Depreciation
16,055.0
16,488.0
23,519.0
24,534.0
26,241.0
61,994.0
60,755.0
60,385.0
54,344.0
54,251.0
2,368.0
2,490.0
17,034.0
14,373.0
14,053.0
12,663.0
13,629.0
0.0
0.0
0.0
1,629.0
751.0
4,838.0
6,603.0
6,081.0
9,643.0
11,049.0
12,633.0
12,909.0
11,890.0
88,297.0
88,674.0
94,890.0
88,229.0
86,275.0
133,625.0
133,088.0
127,697.0
130,904.0
121,880.0
13,991.0
10,501.0
10,676.0
13,256.0
15,118.0
0.0
0.0
0.0
0.0
0.0
Short-Term Debt
9,686.0
8,409.0
4,135.0
6,716.0
2,784.0
Accrued Expenses
2,008.0
1,949.0
0.0
0.0
0.0
Accrued Liabilities
0.0
0.0
6,961.0
6,900.0
1,882.0
Intangibles
Cost In Excess
Non-Current Deferred Income Taxes
Total Assets
Inventory Valuation Method
Deferred Revenues
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6,524.0
9,901.0
1,758.0
3,851.0
3,822.0
32,209.0
30,760.0
23,530.0
30,723.0
23,824.0
Long-Term Debt
22,085.0
25,667.0
20,677.0
19,292.0
23,634.0
0.0
0.0
0.0
0.0
0.0
7,927.0
6,395.0
5,144.0
4,006.0
3,680.0
9,869.0
11,036.0
12,948.0
10,783.0
10,265.0
4,850.0
4,032.0
4,353.0
3,670.0
3,787.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
44,731.0
47,130.0
43,122.0
37,751.0
41,366.0
Total Liabilities
65,190.0
218.0
76,940.0
77,890.0
66,652.0
68,474.0
0.0
0.0
0.0
0.0
0.0
56,685.0
55,198.0
61,045.0
62,430.0
56,690.0
0.0
9,269.0
0.0
0.0
0.0
29,578.0
20,575.0
30,758.0
30,148.0
28,459.0
0.0
0.0
0.0
0.0
0.0
Retained Earnings
23,552.0
30,403.0
29,738.0
31,647.0
30,531.0
Treasury Stock
-1,552.0
-5,800.0
-2,823.0
-427.0
-419.0
Common Par
Additional Paid-In Capital
Cumulative Translation Adjustments
5,107.0
751.0
3,372.0
1,062.0
-1,881.0
78,770.0
80,865.0
81,722.0
81,722.0
80,324.0
56,685.0
55,198.0
61,045.0
62,430.0
56,690.0
133,625.0
133,088.0
127,697.0
130,904.0
121,880.0
Cash Flow
14,938.0
15,499.0
5,012.0
7,400.0
6,928.0
Working Capital
13,119.0
13,654.0
9,277.0
11,952.0
11,781.0
1,567.0
344.0
3,028.0
-625.0
-5,115.0
Invested Capital
78,770.0
80,865.0
81,722.0
81,722.0
80,324.0
1,421.6
1,366.0
1,560.9
1,560.9
1,549.0
0.0
0.0
0.0
0.0
0.0
1,421.6
1,366.0
1,509.5
1,548.6
1,549.0
1,421.6
1,366.0
1,560.9
1,560.9
1,549.0
27.3
82.8
51.4
12.4
12.0
1,399.0
1,383.0
1,445.0
1,512.0
1,549.0
1,401.0
1,386.0
1,446.0
1,600.0
1,611.0
Number Of Employees
311000
316000
287000
273811
261000
*
Shares Out (Common Class Only)
Preferred Shares
Treasury Shares
CASH-FLOW STATEMENT
OPERATING ACTIVITIES
Net Income/Loss
11,850.0
10,439.0
75.0
3,005.0
2,259.0
Depreciation
4,570.0
6,100.0
4,894.0
4,395.0
4,669.0
Amortization
0.0
0.0
0.0
0.0
0.0
Amortization Of Intangibles
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-4,512.0
-1,479.0
882.0
820.0
6,593.0
0.0
1,445.0
1,822.0
Operating Gains
Extraordinary Gains
0.0
0.0
0.0
0.0
0.0
548.0
2,139.0
1,578.0
-433.0
-341.0
-690.0
-7,724.0
5,356.0
-5,540.0
-3,057.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
565.0
-2,485.0
-360.0
3,442.0
-74.0
0.0
0.0
0.0
0.0
-1,237.0
370.0
-946.0
-3,294.0
-1,991.0
-3,179.0
-1,501.0
536.0
3,541.0
926.0
223.0
16,532.0
14,652.0
7,278.0
3,770.0
1,967.0
0.0
0.0
0.0
245.0
-190.0
16,532.0
14,652.0
7,278.0
4,015.0
1,777.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-5,448.0
-5,531.0
-2,792.0
-3,308.0
-4,838.0
Acquisitions
-7,248.0
-6,201.0
-120.0
-75.0
-860.0
0.0
0.0
-33.0
-327.0
-95.0
INVESTING ACTIVITIES
0.0
0.0
0.0
0.0
0.0
787.0
-696.0
161.0
374.0
2,220.0
0.0
0.0
0.0
-102.0
-105.0
-11,909.0
-12,428.0
-2,784.0
-3,438.0
-3,678.0
8,882.0
21,720.0
12,035.0
9,846.0
8,981.0
55.0
68.0
3,165.0
1,371.0
5.0
-7,447.0
-16,847.0
-19,879.0
-7,854.0
-8,194.0
-2,553.0
-4,440.0
0.0
0.0
0.0
-2,269.0
-2,576.0
-1,338.0
-1,257.0
-1,194.0
-85.0
-57.0
-330.0
-2,065.0
-130.0
0.0
0.0
0.0
-48.0
-8.0
-3,417.0
-2,132.0
-6,347.0
-7.0
-540.0
FINANCING ACTIVITIES
Issuance Of Debt
Issuance Of Capital Stock
634.0
-376.0
196.0
-159.0
55.0
1,840.0
-284.0
-1,657.0
411.0
-2,386.0
6,020.0
7,860.0
7,576.0
5,919.0
6,207.0
7,860.0
7,576.0
5,919.0
6,207.0
3,821.0
Foreign Sales
46,591.0
57,571.0
45,097.0
40,579.0
48,256.0
Domestic Sales
58,625.0
67,365.0
20,013.0
37,446.0
45,717.0
Deloitte S.A.
Deloitte S.A.
DELOITTE S.A.
DELOITTE S.A.
DELOITTE S.A.
UQ
UQ
UQ
UQ
UQ
Auditor Name
Auditor Report
RATIOS CALCULATIONS
PROFIT MARGINS
Close PE Ratio
10.5
3.6
547.7
22.7
15.3
High PE Ratio
11.3
15.5
563.1
29.4
32.4
Low PE Ratio
5.4
2.3
194.9
15.6
12.4
23.6
20.0
10.9
14.5
14.0
14.1
9.2
-6.8
2.4
2.9
9.9
7.5
0.2
4.3
1.9
9.9
7.5
0.2
3.9
2.4
8.3
5.2
0.0
2.2
1.9
2.3
3.1
2.1
1.9
3.5
20.4
9.5
0.0
0.0
32.9
33338
29744
411
10975
8655
NORMALIZED RATIOS
Normalized Close PE Ratio
10.5
3.6
547.7
19.0
20.2
11.3
15.5
563.1
24.6
42.8
5.4
2.3
194.9
13.1
16.4
9.9
7.5
0.2
4.3
1.9
Normalized ROE
18.3
17.0
0.2
5.3
3.2
Normalized ROA
7.8
7.1
0.1
2.5
1.5
Normalized ROCI
13.2
11.6
0.1
4.1
2.2
33338
29744
411
12180
6889
Quick Ratio
0.5
0.5
0.5
0.4
0.4
Current Ratio
1.4
1.4
1.4
1.4
1.5
Payout Ratio
16
20
797
40
54
0.56
0.62
0.41
0.42
0.47
0.28
0.32
0.25
0.24
0.29
Leverage Ratio
2.4
2.4
2.1
2.1
2.1
Asset Turnover
0.9
0.9
0.5
0.6
0.7
Cash As % Of Revenue
7.5
6.1
9.1
8.0
4.1
Receivables As % Of Revenue
9.1
7.5
8.8
7.3
6.9
SG&A As % Of Revenue
5.2
5.3
6.0
4.3
3.8
R&D As % Of Revenue
0.0
0.0
0.0
0.0
0.0
SOLVENCY RATIOS
EFFICIENCY RATIOS
ACTIVITY RATIOS
Revenue Per $ Cash
13.39
16.49
11.00
12.57
24.59
1.70
2.06
1.08
1.44
1.73
1.86
2.26
1.07
1.25
1.66
1.34
1.54
0.80
0.95
1.17
11.5
13.2
8.6
13.6
15.4
3.9
4.3
2.8
3.7
3.9
32.62
26.89
31.79
26.41
24.72
11.04
13.39
11.32
13.63
14.56
4.84
5.05
3.87
3.98
4.33
0.8
0.9
0.5
0.6
0.8
LIQUIDITY RATIOS
Receivables Turnover
Inventory Turnover
92
84
129
98
92
31.89
32.51
21.02
27.34
22.99
94.00
97.43
81.81
83.86
78.69
Intangibles As % Of Book-Value
26.5
29.2
27.9
23.0
24.8
Inventory As % Of Revenue
20.7
19.8
25.9
25.1
23.1
15.54
18.79
13.25
12.36
15.26
22.66
22.52
15.07
19.68
15.38
5.53
5.55
3.79
3.98
2.47
0.39
0.46
0.34
0.31
0.42
28.0
31.7
25.3
23.6
29.4
28.7
33.0
31.0
28.2
36.3
57.6
58.5
52.2
52.3
53.5
23.1
24.7
15.2
19.1
20.8
74.01
91.46
41.71
49.99
60.67
39.87
40.41
39.11
40.00
36.60
29.30
28.61
28.20
30.79
27.53
Price/Revenue Ratio
1.05
0.27
1.05
0.73
0.30
Price/Equity Ratio
1.94
0.61
1.12
0.91
0.50
2.64
0.86
1.55
1.19
0.66
11.9
40.7
13.6
21.0
41.8
9.23
10.00
5.94
7.66
7.61
PROFITABILITY
Working Capital Per Share
Cash Flow Per Share
10.51
11.35
3.21
4.74
4.47
1.10
0.25
1.94
-0.40
-3.30
18.3
17.0
0.2
4.8
4.0
13.2
11.6
0.1
3.7
2.8
7.8
7.1
0.1
2.3
1.9
7.4
2.2
13.6
7.7
4.1
70.3
98.4
22.6
-91.3
-5.5
338315
395367
226864
284959
360050
% Of Sales-To-Industry
33.8
32.0
29.7
30.1
35.4
% Of Earnings-To-Industry
23.0
22.3
1.1
23.2
17.4
% Of EPS-To-Industry
204.4
231.0
10.9
104.8
81.5
% Of Price-To-Industry
133.6
144.1
123.9
97.4
100.1
% Of PE-To-Industry
65.4
62.6
1130.9
93.2
109.8
% Of Price/Book-To-Industry
51.9
45.5
46.5
47.9
47.2
% Of Price/Sales-To-Industry
46.5
42.9
48.6
63.5
46.9
% Of Price/Cashflow-To-Industry
63.3
54.0
74.1
67.2
62.9
-426.4
334.3
19.8
360.6
37.4
% Of Debt/Equity-To-Industry
65.0
76.7
79.1
68.9
91.3
% Of Current Ratio-To-Industry
87.5
87.5
70.0
82.4
83.3
68.8
59.0
53.2
75.1
72.9
69.1
63.4
-183.8
40.0
50.0
68.8
68.8
4.3
82.7
38.0
68.3
69.4
4.3
78.0
49.0
% Of Pric/Free Cashlow-To-Industry
% Of ROE-To-Industry
76.3
74.2
3.8
57.8
49.4
% Of Leverage-To-Industry
96.0
92.3
95.5
95.5
95.5