Earnings release
Page 1
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
Page 2
@F8)76C569:CE 92:C2?5(@7-649?:A& C6>2C<65 O(FCBF 2CE6C=JC6DF=EDC67=64EDEC@?8 @A6C2E:@?2=A6C7@C>2?46E9C@F89@FEE96@C82?:K2E:@?-@E2=@>A2?JC6G6?F6:?E96A6C:@5H2D 3:==:@? H:E925;FDE65"-@7>:==:@? H96?6I4=F5:?87@C6:8?6I492?86:>A24ED0686?6C2E65 7C6642D97=@H@7>:==:@?-96D6C6DF=EDC67=64E4@?D:DE6? 4J:?@FC6I64FE:@?2?5C6:?7@C46 4FDE@>6CECFDE2?54@?7:56?46:?@FC42A23:=:E:6DP O06C646?E=J249:6G65D6G6C2=@A6C2E:@?2=>:=6DE@?6D 2==7FCE9 6CDEC6?8E96?:?8@FCEC24<C64@C5@7 4=:6?EDF446DD:?25G2?4:?8@77D9@C6AC@;64ED0656=:G6C65E96 7:CDE,F3D62LEC667@C96GC@?ND @C8@?,E286AC@;64E C6AC6D6?E:?8E967:CDEEC6656=:G6C65F ?56C@FCJ62C,F3D62 L7C2>6 28C66>6?E062=D@46=63C2E65E96>2?F724EFC62?556=:G6CJ@7E96E9DF3D62EC667@CII@?&@3:= :? FJ2?2-96D66I2>A=6D9:89=:89EE964@==64E:G6677@CED@7@ FC8=@32=E62>D 56=:G6C:?8AC@;64ED@? D4965F=6M2?5:?>2?J42D6D29625@7D4965F=6M8:G:?8@FC4FDE@>6 CD8C62E6C4@?7:56?46:? D2?4E:@?:?8@77D9@C6AC@;64EDP )76C569:CE4@?E:?F65 O-FC?:?8E@:?3@F?5@C56CD H62??@F?465 E9C66,F3D622H2C5D7@CE96E9:C5 BF2CE6C06D64FC65>F=E:A=64@?EC24EDE@DFAA=J7=6I:3=6A:A6 DJDE6>D E967:CDE7@CKF=6?6C8J:? ?8@=2 2?5E96D64@?57@C)6EC@3C2D:?DFAA@CE@7>F=E:A=6AC6 D2=E7:6=5D:?C2K:=06H6C62=D@ 2H2C5652?:?E68C2E654@?EC24E7C@>)-+(',7@CE96%:>32J@?8 AC@;64E @?6@7E9C66:)" L 2H2C5D:?E96A6C:@5,F3D62@C56CD:?E96BF2CE6CE@E2=653:==:@?P )76C569:CE 25565 O06 4@?E:?F6 E@ 6?92?46 @FC 4FDE@>6C C6=2E:@?D9:AD E9C@F89 4@==23@C2E:G6 A2CE?6CD9:AD(FCC646?E,EC2E68:4@==23@C2E:@?8C66>6?EH:E9)-+(',6DE23=:D96D-649?:A& 2DE96:C566AH2E6C56G6=@A>6?EA2CE?6C 4C62E:?8A@E6?E:2=@AA@ CEF?:E:6D7@C8C@HE924C@DD>F=E:A=6 AC@;64ED@G6CE964@>:?8J62CD062=D@2??@F?4652&6>@C2?5F> @7.?56CDE2?5:?8=2DEH66<H:E9 3A F?56CH9:49-649?:A&H:==36E96AC676CC65DEC2E68:4DFAA =:6C@7$DJDE6>D7@CE96:C )2=6@86?6AC@8C2>:?E96 F=7@7>6C:42P O@E9@7E96D628C66>6?ED6I6>A=:7J@FC7@4FD@?4=:6?EC6=2E:@ ?D9:AD2?5C6:?7@C46E96G2=F6@7 4FDE@>6C6?8286>6?E-96D6C6=2E:@?D9:AD364@>6:?4C62D:?8=J>@ C6G2=F23=62D4=:6?ED25@AE2 A@CE7@=:@2AAC@249E@@77D9@C656G6=@A>6?E @AE:>:K:?8@AA@CEF? :E:6D24C@DDE96:C6?E:C62DD6E32D6 C2E96CE92?D:>A=J25G2?4:?8:?5:G:5F2=AC@;64EDP )76C569:CE4@?E:?F65 O%@@<:?829625 H6C6>2:?@AE:>:DE:423@F EE965FC23:=:EJ@7E96DF3D62>2C<6E 0692G69:89G:D:3:=:EJ DFAA@CE653J2DFDE2:?65:?4C62D6:?5 66AH2E6C24E:G:EJMH:E9D:8?:7:42?E=J :>AC@G65AC@;64E64@?@>:4DM2?52D9:7E:?@A6C2E@C42A:E2=E@H2 C5AC@=:7:4 9:89BF2=:EJ@77D9@C6 C6D6CG@:CD-9:D@FE=@@<:DC67=64E65:?@FC,F3D62(AA@CEF?:E:6D%:DE H9:4992D:?4C62D657@CE96?:?E9 4@?D64FE:G6BF2CE6CE@3:==:@? H96?FD:?8E96>:5A@:?E@7AC@;64EG2=F6DP )76C569:CE4@?4=F565 O-96C@3FDEA:A6=:?6@7@AA@CEF?:E:6DDFAA@CED@FC6IA64E2E:@?7@C7FCE96C8C@HE9 2?5:7H66IE6?5@FCG:6HE@:?4=F56 H66IA64E,F3D62@C5 6CD@G6CE96?6IE7:G6BF2CE6CDE@36 2E=62DE3:==:@?-96>@>6?EF>:?@C56C8C@HE9D9@F=52=D @=:7EE96BF2=:EJ@7@FC:?3@F?5 H:E9 DF3DE2?E:2==J>@C6,F3D62 L :)"L 2?55:C64E2H2C5D6IA64E65:?E96J62C29625062=D@ 36=:6G6E9:D>2C<DE96368:??:?8@72DFDE2:?65H2G6@724E:G:E JE92EH:==6IE6?536J@?5E966?5@7E96 564256P '/-283:! -97 $+1/90
Page 3
#:/<+>398+6+8.38+8-3+63126312>= &?,=/+ 38+8-3+63126312>= #-+76+141)<1767.&$"<7676".16)6+1)45-);=:-;):-8:7>1,-,16.16)6+1)4;+0-,=4-; '2<//!98>2=8./. 2+81/ 87366398= &/: ?8 &/: &/;?/8>3+6 */+<9@/< */+< %/@/8?/ #:/<+>381:<903> #:/<+>381:<903>7+<138 3AD 3AD .4?=>/.' .4?=>/.'7+<138 3AD 3AD 8,9?8.9<./<= +-5691 =>37+>/.98=963.+>/.+-5691&-2/.?6381 87366398= &/: 798>2= +8.,/C98. '9>+6 )+347/);7.$-8<-5*-: ?);16+:-);-,*A).7:-1/6-@+0)6/-158)+<7. 5144176 )+347/,7-;67<+)8<=:-)44:->-6=-87<-6<1)4.7:$=*;-)$-:>1+-; )+347/);7.$-8<-5*-: ,7-;67<16+4=,-<7<)4758)6A676+76;741,)<-,*)+347/7. 5144176 ,F3D62C6A@CE65E9:C5BF2CE6CC6G6?F6@7 >:==:@? 2?:?4 C62D6@7A6C46?E7C@>E96D64@?5 BF2CE6C-96D6BF6?E:2=C6G6?F6:>AC@G6>6?EH2D5C:G6?3J:?4C6 2D65AC@;64E24E:G:EJ DA64:7:42==J :)"LAC@;64ED:?"?5@?6D:22?5C2K:= 2DH6==2D:?4C62D65D6CG:46 D24E:G:EJ-96C6G6?F6:?4C62D6 H2DA2CE:2==J@77D6E3J=@H6CAC@;64E24E:G:EJ:?'@CH2J ,F3D62C6A@CE652?@A6C2E:?8AC@7:E@7>:==:@? 2?:?4C6 2D6@7A6C46?EH96?4@>A2C65E@ E96D64@?5BF2CE6C(A6C2E:?8C6DF=ED:>AC@G65D6BF6?E:2==J5F6E@DEC@?86I64FE:@?2?59:896CAC@;64E 2?5D6CG:46D24E:G:EJ(A6C2E:?8AC@7:E>2C8:?:?4C62D6532D:DA@:?EDE@A6C46?E ,F3D62C6A@CE6525;FDE65"-@7>:==:@? 2?:?4C62D6 @7A6C46?EH96?4@>A2C65E@E96 D64@?5BF2CE6C-96724E@CD:>A24E:?8@A6C2E:?8AC@7:E2=D@5C@ G6E96D6BF6?E:2=:?4C62D6:?25;FDE65 "-5;FDE65"->2C8:?:?4C62D6532D:DA@:?EDE@A6C46?E '/-283:! -97 $+1/ 90
Page 4
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
Page 5
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
Page 6
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
Page 7
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
Page 8
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
Page 9
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
Page 10
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
Page 11
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
Page 12
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
Page 13
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
Page 14
7+,%,5 ! ! " ! ! 0/,..,10460$6',5(' (25(/%(3 (&(/%(3 );0)6,+);0-9=1>)4-6<; &:),-:-+-1>)*4-;6-< 76<:)+<);;-<;6-< 6>-6<7:1-;6-< "<0-:+=::-6<);;-<; &7<)4+=::-6<);;-<; #:78-:<A84)6<)6,-9=185-6<6-< 6<)6/1*4-);;-<;6-< "<0-:);;-<; &7<)4);;-<; %07:<<-:5,-*<)6,+=::-6<87:<1767.476/<-:5,-*< ++7=6<;8)A)*4-<:),- 76<:)+<41)*141<1-; "<0-:+=::-6<41)*141<1-; &7<)4+=::-6<41)*141<1-; 76/<-:5,-*<4-;;+=::-6<87:<176 "<0-:41)*141<1-; &-+0618 84+;<7+3074,-:;F-9=1<A !76+76<:74416/16<-:-;<; &7<)441)*141<1-;)6,-9=1<A '/-283:! -97 $+1/90
Page 15
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
Page 16
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
Page 17
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' !+3((105+40'(' ,0(105+40'(' (25(/%(3 60( (25(/%(3 (25(/%(3 (25(/%(3 !-<16+75-)<<:1*=<)*4-<7&-+0618 84+ 6+75-47;;)<<:1*=<)*4-<7676+76<:74416/ 16<-:-;<; #:7>1;176.7:16+75-<)@ !-<16<-:-;<-@8-6;- -8:-+1)<176)6,)57:<1B)<176 $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; ,2=;<-,& 7:-1/6-@+0)6/-6-< ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/- 6-< '/-283:! -97 $+1/90
Page 18
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' !+3((105+40'(' (25(/%(3 6%4($ 63)$&( !(&+01.1*,(4 13213$5( 72(04( 13(,*0 7&+$0*( 0(5 !15$. $->-6=- C C "8-:)<16/8:7.1<47;;);:-87:<-,8:-<)@ 0):/-;)6,+:-,1<; $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; C %=*<7<)4 C -8:-+1)<176)6,)57:<1B)<176 C ,2=;<-,& 7:-1/6-@+0)6/-6-< C C C ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/-6-< C "8-:)<16/8:7.1<5):/16);:-87:<-, ,2=;<-,&5):/16 ,2=;<-,&5):/16-@+4=,16/.7:-1/6-@+0)6/-6-< '/-283:! -97 $+1/90
Page 19
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' !+3((105+40'(' 60( 6%4($ 63)$&( !(&+01.1*,(4 13213$5( 72(04( 13(,*0 7&+$0*( 0(5 !15$. $->-6=- C C "8-:)<16/8:7.1<47;;);:-87:<-,8:-<)@ 0):/-;)6,+:-,1<; $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; C %=*<7<)4 C -8:-+1)<176)6,)57:<1B)<176 C ,2=;<-,& 7:-1/6-@+0)6/-6-< C C C ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/-6-< C "8-:)<16/8:7.1<5):/16);:-87:<-, ,2=;<-,&5):/16 ,2=;<-,&5):/16-@+4=,16/.7:-1/6-@+0)6/-6-< '/-283:! -97 $+1/90
Page 20
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' !+3((105+40'(' (25(/%(3 6%4($ 63)$&( !(&+01.1*,(4 13213$5( 72(04( 13(,*0 7&+$0*( 0(5 !15$. $->-6=- C C "8-:)<16/8:7.1<47;;);:-87:<-,8:-<)@ 0):/-;)6,+:-,1<; $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; C C %=*<7<)4 C C -8:-+1)<176)6,)57:<1B)<176 C C ,2=;<-,& 7:-1/6-@+0)6/-6-< C C C ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/-6-< C "8-:)<16/8:7.1<5):/16);:-87:<-, ,2=;<-,&5):/16 ,2=;<-,&5):/16-@+4=,16/.7:-1/6-@+0)6/-6-< '/-283:! -97 $+1/ 90
Page 21
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' ,0(105+40'(' (25(/%(3 6%4($ 63)$&( !(&+01.1*,(4 13213$5( 72(04( 13(,*0 7&+$0*( 0(5 !15$. $->-6=- C C "8-:)<16/8:7.1<47;;);:-87:<-,8:-<)@ 0):/-;)6,+:-,1<; $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; C %=*<7<)4 C -8:-+1)<176)6,)57:<1B)<176 C ,2=;<-,& 7:-1/6-@+0)6/-6-< C C C ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/-6-< C "8-:)<16/8:7.1<5):/16);:-87:<-, ,2=;<-,&5):/16 ,2=;<-,&5):/16-@+4=,16/.7:-1/6-@+0)6/-6-< '/-283:! -97 $+1/90
Page 22
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' ,0(105+40'(' (25(/%(3 6%4($ 63)$&( !(&+01.1*,(4 13213$5( 72(04( 13(,*0 7&+$0*( 0(5 !15$. $->-6=- C C "8-:)<16/8:7.1<47;;);:-87:<-,8:-<)@ 0):/-;)6,+:-,1<; $-;<:=+<=:16/158)1:5-6<)6,7<0-:+0):/-; C C %=*<7<)4 C C -8:-+1)<176)6,)57:<1B)<176 C ,2=;<-,& 7:-1/6-@+0)6/-6-< C C C ,2=;<-,&-@+4=,16/.7:-1/6-@+0)6/-6-< C "8-:)<16/8:7.1<5):/16);:-87:<-, ,2=;<-,&5):/16 ,2=;<-,&5):/16-@+4=,16/.7:-1/6-@+0)6/-6-< '/-283:! -97 $+1/90
Page 23
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
Page 24
7+,%,5 ! ! " !! " 0/,..,10460$6',5(' !+3((105+40'(' (25(/%(3 ,0(105+40'(' (25(/%(3 );08:7>1,-,*A78-:)<16/)+<1>1<1-; )81<)4-@8-6,1<=:-; :--+);0.47? :--+);0.47?1;)676#.16)6+1)45-);=:-)6,1;,-.16-, );+);08:7>1,-,*A78-:)<16/)+<1>1<1-;4-;;+)81<)4 -@8-6,1<=:-; )6)/-5-6<=;-;<01;676#.16)6+1)45-);=:-< 7->)4=)<-7=:.16)6+1)4+76,1<176(-*-41->-.:--+);0 .47?1;)5-)616/.=4.16)6+1)45-);=:-<0)<5)A);;1;<16>-;<7: ;16=6,-:;<)6,16/7=:.16)6+1)4+76,1<176)6,:-;=4<;7. 78-:)<176; '/-283:! -97 $+1/90