Fundamental Analysis - SX5E Index (Eurostoxx50) Members

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Fundamental Analysis - SX5E Index (Eurostoxx50) Members with Tables

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Fundamental Analysis - SX5E Index (Eurostoxx50) Members

  1. 1. This material does not constitute investment advice and should not beviewed as a current or past recommendation or a solicitation of anoffer to buy or sell any securities or to adopt any investment strategy. Fundamental Analysis & Analyst Recommendations Eurostoxx 50 - SX5E Index April 2013 Q M S Advisors . . Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  2. 2. Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Market Total Minority Cash and Enterprise Est. Tot. Est. P/E Est. Est. Est. Est. S&P LT Moodys LT Capitalization (in mio Daily Common Total Debt Preferred Interest Equivalents Value Tot. Rev. - Rev. - Tr. Est. Tot. Est. Tot. Est. EBITDA - Est. EBITDA - Est. EBITDA - Est. EPS - Est. EPS - Est. EPS - P/E Ratio - Ratio - Tr. Est. P/E Est. P/E Revenue Revenue Est. EBITDA EBITDA Est. EBITDA Credit S&P LT Credit Credit Moodys LT Credit Currency USD) Volume (M) Shares (M) (USD) Stock (USD) (USD) (USD) (USD) LFY 12M Rev. - 2013 Rev. - 2014 EBITDA - LFY Tr. 12M 2013 2014 EPS - LFY Tr. 12M 2013 2014 LFY 12M Ratio - 2013 Ratio - 2014 Growth - 1Y Growth - 5Y Growth - 1Y Growth - 5Y Margin - Rating - Rating Date Rating Rating DateS&P 500 INDEX USD 14281184 1923.576 1116 1116 204 220 220 101.41 110.54 110.54 15.30 15.30 14.04 14.04 18.80Euro Stoxx 50 Pr EUR 2555033 5428.22 4634 4634 740 776 776 230.14 308.17 308.17 19.06 16.44 14.23 14.23 19.71NIKKEI 225 JPY 2553542 187.175 188 188 19 20 20 5.27 5.50 5.50 0.27 0.27 0.25 0.25 0.12FTSE 100 INDEX GBP 2684101 11617.73 9620 9620 1448 1651 1651 532.11 821.22 821.22 27.64 - 17.91 17.91 22.26SWISS MARKET INDEX CHF 1031986 10949.77 4120 4120 845 836 836 408.90 551.91 551.91 21.14 18.80 15.66 15.66 21.93S&P/TSX COMPOSITE INDEX CAD 1670979 17101.32 7899 7899 1847 2081 2081 793.83 887.70 887.70 15.34 15.34 13.72 13.72 24.22S&P/ASX 200 INDEX AUD 1406910 6765.465 2874 2874 607 705 705 252.31 342.22 342.22 21.52 17.41 15.86 15.86 22.41HANG SENG INDEX HKD 1692292 3630.113 1766 1766 362 478 478 267.66 266.29 266.29 1.38 1.51 1.39 1.39 2.94MSCI EM USD 7658673 1544.178 1079 1079 201 220 220 86.99 95.05 95.05 11.75 13.38 10.76 10.76 20.03AIR LIQUIDE SA EUR 38129 169 311 9 0 0 1 46.30 19722 19722 21011 22524 4880 4880 - - 6.69 6.66 7.17 7.93 23.58 23.70 21.90 19.81 7.74 6.61 8.26 8.74 31.84 A 02.07.2007 - -ALLIANZ SE-REG EUR 63690 543 453 37 0 3 16 87.98 123562 123561 134052 137749 - - - - 15.06 14.70 15.60 16.33 12.23 12.02 11.52 11.01 12.72 3.88 - - - AA 27.01.2012 Aa3 03.05.2004ANHEUSER-BUSCH INBEV NV EUR 155231 463 1602 57 0 6 18 244.51 51162 51162 57945 62722 19882 19882 - - 5.74 5.83 6.39 7.22 27.45 27.82 25.03 22.17 2.35 19.25 1.29 22.83 50.01 A 01.05.2012 A3 27.03.2012ARCELORMITTAL EUR 22181 2761 1549 33 0 4 6 60.50 108368 108368 111347 116268 8702 9201 1860 1860 0.01 -3.10 0.87 1.85 - 109.16 25.36 11.91 -13.37 -4.76 -40.77 -24.46 10.93 BB+ 02.08.2012 Ba1 06.11.2012ASML HOLDING NV EUR 27744 317 407 1 0 0 3 25.25 6089 6089 6253 7814 1729 1729 180 180 3.45 3.47 2.94 4.56 25.04 25.13 29.55 19.10 -20.94 24.16 -32.98 9.18 36.54 - - Baa2 11.11.2010ASSICURAZIONI GENERALI EUR 25464 2630 1541 30 0 4 28 31.34 104788 105575 98010 99834 - - - - 0.93 0.11 1.69 1.90 191.45 - 12.45 11.06 13.92 11.65 - - - A 23.01.2013 Baa2 21.03.2013AXA SA EUR 42255 1373 2389 14 8 3 39 19.70 147586 147586 129398 131691 - - - - 2.35 2.28 2.54 2.71 9.98 9.67 8.97 8.41 21.40 76.58 - - - A- 18.12.2012 A2 19.03.2003BANCO BILBAO VIZCAYA ARGENTA EUR 49356 14096 5433 291 0 3 82 #VALUE! 45325 29418 30027 31639 - - - - 0.77 0.33 1.00 1.13 35.43 35.83 11.64 10.33 8.46 12.49 - - - BBB- 16.10.2012 Baa3 24.10.2012BANCO SANTANDER SA EUR 74005 25421 10321 473 0 12 234 #VALUE! 56074 56074 57221 60012 - - - - 0.77 0.31 0.76 0.88 29.48 11.19 11.92 10.24 -56.80 12.27 - - - BBB 16.10.2012 (P)Baa2 24.10.2012BASF SE EUR 82652 972 918 17 0 2 2 99.10 101311 101311 104563 103421 16192 16192 4513 4513 6.44 6.83 7.68 8.27 16.95 17.99 15.07 14.00 9.16 8.45 7.90 4.79 20.57 A+ 10.05.2011 A1 17.11.2010BAYER AG-REG EUR 84280 511 827 12 0 0 3 93.39 51165 51165 53456 56145 11583 11073 3237 3237 7.19 3.81 7.58 8.38 34.43 19.95 17.30 15.66 11.39 5.58 0.55 7.97 27.85 A- 30.04.2008 A3 17.07.2006BAYERISCHE MOTOREN WERKE AG EUR 57546 584 656 89 0 0 17 130.42 98891 98891 102538 107481 15460 15460 - - 9.99 10.00 10.04 10.34 11.53 11.53 11.48 11.15 15.01 8.33 3.71 -0.81 20.12 A 16.04.2012 A2 22.07.2011BNP PARIBAS EUR 64511 2076 1240 1303 9 11 180 #VALUE! 88 K 125 K 52 K 53 K - - - - 7.04 6.86 6.45 7.37 9.74 9.27 10.36 9.06 -4.25 14.66 - - - A+ 25.10.2012 A2 21.06.2012CARREFOUR SA EUR 19604 417 709 14 0 1 9 26.29 98815 98815 101617 104813 5011 3355 - - 0.28 0.30 1.86 2.12 119.29 44.50 19.12 16.80 -5.86 -3.25 - 1.48 4.19 BBB 15.03.2012 (P)Baa2 15.03.2012COMPAGNIE DE SAINT-GOBAIN EUR 20381 553 531 16 0 1 5 31.84 55589 55589 55342 57233 3393 3393 - - 1.28 1.88 3.14 3.79 26.33 38.57 15.72 13.02 3.31 0.25 -61.14 -18.58 7.86 BBB 24.07.2009 Baa2 31.07.2009CRH PLC EUR 16005 166 726 6 0 0 2 20.06 24011 24011 24544 25898 2110 2110 761 761 0.65 0.98 1.09 1.40 28.79 43.80 26.02 20.18 4.11 -2.37 -1.24 -13.53 11.31 BBB+ 17.12.2007 - -DAIMLER AG-REGISTERED SHARES EUR 60300 953 1068 109 0 2 19 151.95 147081 147081 150523 159678 15620 15690 - - 7.30 7.35 5.98 7.09 9.89 9.89 12.15 10.25 9.37 22.76 -0.82 -6.67 13.73 A- 23.02.2012 A3 01.10.2007DANONE EUR 44228 360 593 12 0 0 4 52.68 26855 26855 28432 30191 4661 4661 - - 3.58 3.59 4.07 4.49 24.98 25.03 22.07 19.98 10.33 14.00 5.02 14.60 22.33 A- 25.07.2007 A3 06.11.2007DEUTSCHE BANK AG-REGISTERED EUR 37713 2191 929 366 0 2 229 #VALUE! 43215 60676 43528 44813 - - - - 4.09 0.88 4.97 6.44 59.67 10.66 10.50 8.11 -46.62 -7.49 - - - A+ 25.01.2012 A2 21.06.2012DEUTSCHE TELEKOM AG-REG EUR 46761 5001 4319 57 0 6 8 102.34 74854 74854 74333 74043 22813 22787 5568 5568 1.29 -1.58 0.91 0.95 - 10.94 15.24 14.72 -1.06 -1.78 -15.76 1.91 39.17 BBB+ 19.05.2008 Baa1 22.12.2011E.ON SE EUR 34891 3227 1907 33 0 5 8 65.40 169982 169982 142882 145391 10865 10865 12298 12298 2.33 1.47 1.68 1.79 15.30 9.64 13.33 12.51 21.80 21.06 125.82 -6.77 8.23 A- 27.07.2012 A3 05.10.2011EADS NV EUR 43982 791 822 6 0 0 14 35.90 72680 72680 75573 80604 5053 5131 1387 1387 1.87 1.92 3.46 4.64 35.48 35.46 19.75 14.72 19.26 14.82 30.63 29.73 9.08 A- 22.09.2010 (P)A2 06.12.2012ENEL SPA EUR 31365 18160 9403 86 0 21 13 125.35 106420 106420 103509 104386 20782 20782 - - 0.12 0.12 0.43 0.45 37.06 - 9.99 9.50 8.50 11.76 -7.84 13.83 25.13 BBB+ 08.03.2012 Baa2 05.11.2012ENI SPA EUR 84179 4195 3634 31 0 5 10 109.80 163777 163777 151612 155903 31610 31610 9093 9093 0.85 3.08 2.52 2.67 9.68 10.87 11.84 11.18 20.76 7.62 -5.84 -1.35 24.84 A 17.01.2012 A3 16.07.2012ESSILOR INTERNATIONAL EUR 24159 145 215 1 0 0 1 24.81 6420 6420 6897 7471 1410 1410 - - 3.61 3.61 4.00 4.42 40.03 40.09 36.14 32.74 24.55 14.95 24.64 14.67 28.25 - - - -FRANCE TELECOM SA EUR 28193 2857 2627 50 0 3 11 70.44 55997 55997 54170 53378 15923 15923 3996 3996 0.95 0.40 1.41 1.38 34.33 14.45 9.71 9.95 -5.01 -4.59 -22.66 -10.88 36.59 A- *- 27.02.2013 A3 23.06.2005GDF SUEZ EUR 47583 1144 2357 74 0 15 15 121.74 124872 124872 104487 104681 23679 23679 - - 1.72 0.92 1.76 1.83 27.67 14.77 14.44 13.86 9.03 9.21 18.66 26.59 24.40 A *- 29.01.2013 A1 03.07.2012IBERDROLA SA EUR 30723 9634 6053 42 0 0 8 65.00 44011 44845 42965 44357 9237 9890 2946 2946 0.59 0.61 0.52 0.54 10.40 10.35 12.14 11.59 10.38 10.14 3.26 10.35 28.38 BBB 28.11.2012 (P)Baa1 05.11.2012INDITEX EUR 82218 266 623 0 0 0 5 76.99 20520 20520 22813 25320 5034 5035 1066 1066 4.87 4.87 5.51 6.18 34.84 - 30.80 27.47 20.09 13.33 27.92 16.38 31.58 - - - -ING GROEP NV-CVA EUR 28331 9946 3801 267 0 1 23 274.21 52481 54357 49358 54228 - - - - 0.94 0.96 1.29 1.42 9.87 9.21 7.39 6.68 -29.26 -11.93 - - - A 03.09.2009 A3 15.06.2012INTESA SANPAOLO EUR 24040 91195 16434 364 0 1 51 #VALUE! 22922 22758 21625 22168 - - - - 0.12 0.17 0.14 0.20 11.42 16.33 13.14 9.69 -37.96 -15.18 - - - BBB+ 10.02.2012 Baa2 16.07.2012KONINKLIJKE PHILIPS ELECTRON EUR 28957 764 915 6 0 0 5 29.90 31898 31898 32000 33064 3169 3169 758 758 0.37 0.35 2.10 2.43 110.57 79.42 18.53 16.04 12.59 1.94 138.78 -4.56 12.79 A- 11.05.2005 A3 20.04.2006LOREAL EUR 94679 222 598 0 0 0 2 92.66 28906 28906 30170 31938 5648 5648 - - 6.10 6.18 6.59 7.14 32.64 32.66 30.58 28.24 13.41 7.44 14.11 6.14 25.14 - - - -LVMH MOET HENNESSY LOUIS VUI EUR 85875 219 500 9 0 1 3 93.23 36164 36164 38951 42288 8931 9291 3634 3634 8.98 8.83 9.75 10.94 24.66 24.25 22.32 19.89 24.17 14.35 16.53 14.22 33.06 A 20.05.2011 - -MUENCHENER RUECKVER AG-REG EUR 34306 205 179 8 0 0 4 38.99 84797 85105 71849 74391 - - - - 23.14 23.14 21.08 21.59 10.64 10.64 11.68 11.40 10.54 9.26 - - - AA- 22.12.2006 - -REPSOL SA EUR 26801 2690 1256 25 0 1 8 44.23 75826 80225 78528 79449 9030 9411 2303 2303 2.12 2.25 2.13 2.22 11.95 - 12.62 12.10 20.28 9.04 27.00 -6.33 15.09 BBB- 19.04.2012 - -RWE AG EUR 23202 937 615 26 0 2 7 44.16 65334 #VALUE! 68801 69794 11652 - - - 2.51 - 5.03 4.58 - - 9.63 10.59 4.24 5.28 11.94 3.94 - BBB+ 27.07.2012 A3 19.07.2011SANOFI EUR 132583 675 1323 19 0 0 8 143.24 44971 44971 46139 48698 15936 16335 - - 5.61 4.84 7.74 8.64 26.59 22.92 16.63 14.90 6.00 6.17 -2.14 3.94 46.74 AA- 18.02.2011 A2 18.02.2011SAP AG EUR 97936 743 1192 7 0 0 3 101.31 20876 20876 23174 25536 6352 5887 1432 1432 3.06 3.05 4.46 5.05 33.64 33.71 23.01 20.30 17.99 12.48 9.07 13.84 36.29 - - - -SCHNEIDER ELECTRIC SA EUR 40647 504 547 10 0 0 5 46.53 30815 30815 31336 32954 4938 4938 - - 4.58 4.36 5.31 5.91 21.59 20.58 17.74 15.92 9.22 10.22 3.87 5.82 20.62 A- 26.11.2008 A3 12.01.2009SIEMENS AG-REG EUR 97476 648 856 27 0 1 15 112.35 100754 101235 100661 104505 12422 13320 2632 2632 7.21 7.31 7.84 9.70 19.48 19.71 18.17 14.68 8.82 0.14 -10.29 2.15 16.93 A+ 05.06.2009 - -SOCIETE GENERALE EUR 25795 5318 754 953 7 6 142 #VALUE! 56277 #VALUE! 30568 31851 - - - - 5.18 1.23 4.61 5.56 34.68 12.02 9.22 7.65 -12.77 - - - - A 23.01.2012 A2 21.06.2012TELEFONICA SA EUR 63425 110692 4551 86 0 9 15 143.64 80242 80242 76560 76891 26811 26858 5890 5890 1.06 1.14 1.46 1.52 15.75 - 12.27 11.79 -0.99 2.53 9.58 -2.33 43.07 BBB 20.12.2012 Baa2 18.10.2012TOTAL SA EUR 115496 1269 2258 43 0 2 22 138.07 234589 234589 233029 231598 41620 41104 11168 11168 6.07 6.09 6.79 6.83 10.32 10.34 9.25 9.19 12.17 5.79 -2.25 1.33 22.55 AA- 12.04.2011 Aa1 30.08.2005UNIBAIL-RODAMCO SE EUR 22328 51 92 15 0 2 0 39.62 2217 2217 2030 2223 1528 1528 - - 22.80 20.32 13.04 14.16 14.90 13.23 23.21 21.38 -14.41 13.29 0.32 19.95 88.67 A 27.06.2007 WR 16.07.2010UNICREDIT SPA EUR 25047 52362 5789 372 0 5 106 #VALUE! 32235 32421 31587 32630 - - - - -0.03 0.25 0.28 0.53 22.18 - 19.93 10.57 -51.87 -4.49 - - - BBB+ 10.02.2012 Baa2 16.07.2012UNILEVER NV-CVA EUR 123515 870 2832 13 0 1 4 133.70 66046 66046 68774 72671 10537 10537 - - 1.96 2.03 2.17 2.36 25.77 26.76 24.10 22.18 13.45 6.87 12.52 5.00 20.53 A+ 05.10.2000 A1 11.07.2000VINCI SA EUR 26545 876 536 26 0 1 8 45.09 50422 49715 50113 51132 7088 7018 - - 4.53 4.60 4.52 4.79 12.81 12.90 13.03 12.31 5.25 5.47 1.46 4.79 18.16 BBB+ 29.03.2007 Baa1 23.07.2002VIVENDI EUR 27779 1283 1323 23 0 4 5 49.44 37311 37311 37128 37552 5761 8404 - - 0.37 0.18 2.30 2.45 147.16 56.38 11.72 11.03 0.81 8.98 -63.56 -8.50 28.99 BBB 26.10.2012 Baa2 13.09.2005VOLKSWAGEN AG-PREF EUR 90906 227 465 151 0 6 33 214.51 247942 247942 262952 276740 31430 31430 5645 5645 59.56 59.93 27.91 32.24 4.33 4.34 9.30 8.05 26.93 15.64 18.42 12.93 16.31 A- 31.08.2009 A3 17.08.2009 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  3. 3. Valuation Measures II/II Price to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Price to Earnings Ratio Estimated Dividend Yield Target 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to SpotS&P 500 INDEX 2.15 2.15 1.98 1.79 2.15 1.39 1.39 1.33 1.27 1.39 9.94 9.94 9.64 9.43 9.94 8.74 8.74 8.08 7.57 8.74 14.04 14.04 12.58 11.37 14.04 2.22 2.22 2.38 2.58 2.22 1681.4 8.4%Euro Stoxx 50 Pr 1.14 1.14 1.08 1.02 1.14 0.74 0.74 0.71 0.69 0.74 5.33 5.33 4.98 4.74 5.33 7.00 7.00 6.62 6.30 7.00 11.06 11.06 9.91 9.07 11.06 4.34 4.34 4.68 4.97 4.34 2895.5 9.3%NIKKEI 225 1.50 1.50 1.41 1.32 1.50 0.70 0.70 0.66 0.65 0.70 9.45 9.45 8.14 7.61 9.45 9.55 9.55 8.32 7.80 9.55 24.05 24.05 18.83 14.59 24.05 1.65 1.65 1.66 1.94 1.65 11908.4 -4.5%FTSE 100 INDEX 1.68 1.68 1.56 1.35 1.68 1.01 1.01 0.97 0.99 1.01 7.90 7.90 7.28 5.26 7.90 7.04 7.04 6.59 6.32 7.04 11.81 11.81 10.71 9.81 11.81 3.89 3.89 4.18 4.62 3.89 6809.6 6.5%SWISS MARKET INDEX 2.39 2.39 2.21 2.04 2.39 1.99 1.99 1.89 1.81 1.99 12.25 12.25 11.20 9.83 12.25 13.09 13.09 12.11 11.32 13.09 14.86 14.86 13.30 12.08 14.86 3.32 3.32 3.68 4.18 3.32 8026.2 3.2%S&P/TSX COMPOSITE INDEX 1.68 1.68 1.55 1.45 1.68 1.57 1.57 1.48 1.42 1.57 8.41 8.41 7.55 7.01 8.41 8.22 8.22 7.27 6.88 8.22 14.00 14.00 12.34 11.35 14.00 3.13 3.13 3.29 3.49 3.13 14540.6 14.7%S&P/ASX 200 INDEX 1.88 1.88 1.78 1.68 1.88 1.80 1.80 1.70 1.61 1.80 11.09 11.09 9.90 9.04 11.09 9.59 9.59 8.44 7.83 9.59 15.15 15.15 13.47 12.37 15.15 4.39 4.39 4.70 5.07 4.39 5149.3 4.0%HANG SENG INDEX 1.33 1.33 1.23 1.14 1.33 1.63 1.63 1.50 1.40 1.63 7.12 7.12 6.58 6.16 7.12 7.59 7.59 6.93 6.39 7.59 10.80 10.80 9.89 9.01 10.80 3.57 3.57 3.86 4.37 3.57 24932.1 11.7%MSCI EM 1.43 1.43 1.30 1.21 1.43 0.95 0.95 0.88 0.84 0.95 6.85 6.85 6.30 5.89 6.85 7.03 7.03 6.45 6.05 7.03 10.76 10.76 9.67 8.97 10.76 3.08 3.08 3.59 6.74 3.08 1183.8 15.8%AIR LIQUIDE SA 2.76 2.57 2.39 2.23 1.99 1.94 1.81 1.69 1.59 1.55 10.26 9.46 8.83 8.33 7.56 9.55 8.81 8.11 7.57 7.27 18.51 17.02 15.39 14.09 13.13 2.65 2.85 3.10 3.36 3.36 101.28 6.8%ALLIANZ SE-REG 0.95 0.90 0.86 0.81 0.75 0.48 0.48 0.46 0.46 0.44 9.63 8.95 8.55 8.37 7.88 4.23 4.50 4.73 4.84 5.07 118.03 8.7%ANHEUSER-BUSCH INBEV NV 3.61 3.36 3.12 2.87 2.52 3.91 3.45 3.19 3.01 2.96 13.79 12.79 11.87 10.79 9.46 12.31 10.82 9.78 9.08 8.95 20.66 19.45 17.23 15.45 14.31 1.97 2.41 2.75 3.28 3.88 75.39 0.4%ARCELORMITTAL 0.39 0.40 0.39 0.36 0.34 0.26 0.26 0.25 0.24 0.24 4.32 4.63 3.35 3.15 1.97 6.77 6.19 5.06 4.54 3.94 77.90 19.70 9.26 6.57 4.93 4.23 1.61 2.33 2.63 1.88 13.80 33.4%ASML HOLDING NV 5.10 4.40 3.75 3.03 4.55 4.44 3.55 2.98 2.42 17.88 20.62 13.34 10.82 14.34 15.88 10.80 8.30 7.10 21.13 22.96 14.84 11.06 8.24 0.87 1.04 1.19 1.36 53.78 2.4%ASSICURAZIONI GENERALI 0.99 0.93 0.87 0.80 0.25 0.26 0.26 0.26 0.23 14.95 9.67 8.59 7.85 7.99 2.25 3.45 4.30 4.67 4.80 13.52 6.4%AXA SA 0.69 0.64 0.61 0.56 0.54 0.33 0.33 0.32 0.30 7.53 6.97 6.53 6.23 5.75 5.31 5.70 6.03 6.36 16.38 19.2%BANCO BILBAO VIZCAYA ARGENTA 0.93 0.87 0.83 0.78 1.68 1.64 1.56 1.51 3.05 2.99 2.90 3.01 19.83 9.05 8.03 7.10 5.97 6.01 6.04 6.61 7.86 11.7%BANCO SANTANDER SA 0.71 0.74 0.72 0.74 0.85 1.30 1.29 1.23 1.19 1.18 2.08 2.06 1.95 2.32 9.78 9.26 7.95 7.73 8.03 10.79 11.09 10.65 9.99 11.00 6.15 12.7%BASF SE 2.47 2.41 2.24 2.09 1.79 0.82 0.79 0.80 0.76 0.76 7.98 7.70 7.11 6.89 5.85 6.24 6.00 5.67 5.33 5.28 12.89 11.71 10.88 10.10 9.48 3.69 3.91 4.09 4.30 4.36 77.17 10.4%BAYER AG-REG 3.28 3.10 2.79 2.55 2.20 1.65 1.58 1.50 1.42 1.37 11.73 10.16 9.31 8.44 7.91 8.78 8.25 7.68 7.15 6.82 14.62 13.44 12.17 11.02 10.26 2.29 2.62 2.87 3.13 3.34 79.46 0.3%BAYERISCHE MOTOREN WERKE AG 1.46 1.34 1.23 1.10 1.05 0.58 0.56 0.54 0.51 0.51 5.39 5.22 4.98 4.80 3.35 7.72 7.96 7.69 7.93 6.69 8.96 8.92 8.67 8.30 8.19 3.75 3.95 4.25 4.41 3.88 79.43 14.1%BNP PARIBAS 0.65 0.62 0.59 0.55 1.28 1.25 1.21 1.17 1.17 5.06 4.51 4.03 3.74 7.41 8.05 7.04 6.45 3.72 4.36 5.28 6.19 6.44 52.31 29.6%CARREFOUR SA 1.95 1.85 1.70 1.56 1.56 0.20 0.19 0.19 0.18 0.18 6.43 5.49 5.04 5.26 4.64 5.54 5.29 4.98 4.74 4.51 17.12 14.85 13.06 11.57 10.67 2.44 2.89 3.31 3.82 3.72 22.90 6.6%COMPAGNIE DE SAINT-GOBAIN 0.88 0.87 0.84 0.79 0.37 0.37 0.36 0.34 0.34 5.63 5.61 5.12 4.48 5.67 5.61 5.17 4.65 4.24 12.70 12.22 10.12 8.15 6.89 3.90 4.43 4.46 4.68 33.03 10.7%CRH PLC 1.14 1.13 1.10 1.05 0.66 0.65 0.62 0.58 0.48 9.61 8.60 7.61 6.48 9.73 9.04 7.89 6.79 5.52 23.30 20.22 15.68 12.16 9.94 3.69 3.74 3.84 4.02 15.81 -7.5%DAIMLER AG-REGISTERED SHARES 1.09 1.05 0.97 0.88 0.81 0.41 0.40 0.38 0.36 0.36 5.33 5.05 4.44 3.67 3.07 9.24 9.34 8.20 7.31 6.22 9.49 9.44 7.97 6.89 6.80 4.88 4.64 5.11 5.77 47.46 8.1%DANONE 2.60 2.45 2.32 2.15 1.87 1.66 1.56 1.46 1.38 1.31 12.78 12.53 11.01 9.90 9.03 11.36 10.84 10.10 9.36 8.58 17.95 17.15 15.53 14.31 12.89 2.70 2.80 3.06 3.36 3.88 54.56 0.7%DEUTSCHE BANK AG-REGISTERED 0.52 0.51 0.49 0.45 0.41 0.87 0.87 0.84 0.82 0.73 5.56 4.84 4.24 3.98 8.80 8.16 6.30 5.28 4.53 2.39 2.45 3.09 3.61 3.41 38.64 22.5%DEUTSCHE TELEKOM AG-REG 1.28 1.28 1.23 1.20 1.34 0.62 0.63 0.63 0.62 0.63 2.72 2.61 2.64 2.75 2.63 4.41 4.58 4.57 4.51 4.41 13.10 11.85 11.44 11.11 10.48 8.31 6.37 6.10 6.28 6.95 9.16 9.0%E.ON SE 0.68 0.69 0.67 0.65 0.62 0.24 0.24 0.24 0.23 0.21 3.31 4.08 4.05 3.84 3.58 4.72 5.33 5.22 5.21 5.05 6.05 10.36 9.72 9.73 9.18 8.07 5.44 5.61 5.54 5.90 13.41 -1.0%EADS NV 3.42 3.39 2.72 2.32 1.99 0.62 0.58 0.55 0.52 0.51 11.18 8.67 7.76 5.61 6.90 6.37 5.09 4.35 3.96 3.85 21.36 15.34 11.44 9.45 8.80 1.49 2.32 3.13 3.79 3.66 42.96 4.2%ENEL SPA 0.60 0.59 0.57 0.54 0.56 0.30 0.30 0.30 0.30 0.29 2.71 2.68 2.46 2.61 2.71 5.87 6.03 5.97 5.84 5.71 7.06 7.76 7.38 6.95 6.99 5.79 5.36 5.52 5.94 5.75 3.04 17.3%ENI SPA 1.09 1.04 0.98 0.92 0.88 0.54 0.56 0.54 0.52 0.56 3.92 3.62 3.38 3.20 3.72 2.90 2.98 2.87 2.75 2.78 8.96 9.20 8.68 8.05 9.60 5.99 6.11 6.24 6.44 6.33 20.11 11.7%ESSILOR INTERNATIONAL 5.11 4.61 4.21 3.60 3.76 3.50 3.23 2.97 2.75 23.41 20.25 18.51 17.52 21.63 17.70 16.44 15.03 13.77 12.73 31.14 28.08 25.44 23.49 21.21 1.13 1.18 1.29 1.38 1.48 82.08 -6.1%FRANCE TELECOM SA 0.80 0.82 0.81 0.78 0.80 0.50 0.52 0.53 0.53 0.54 2.17 2.22 2.29 2.38 2.34 4.02 4.25 4.37 4.46 4.49 6.42 7.55 7.73 7.63 7.36 9.71 9.41 9.10 8.81 9.27 9.63 16.4%GDF SUEZ 0.55 0.55 0.56 0.57 0.53 0.40 0.46 0.45 0.45 0.42 3.07 3.42 3.31 3.60 3.30 5.56 6.75 6.64 6.48 5.95 9.83 11.22 10.77 10.25 8.89 9.79 9.57 9.60 8.69 9.21 16.67 8.8%IBERDROLA SA 0.66 0.65 0.64 0.63 0.63 0.76 0.72 0.69 0.67 0.71 4.02 4.31 4.38 3.94 6.52 6.64 6.39 6.14 5.98 8.34 9.43 9.00 9.12 9.62 8.21 7.73 7.71 7.66 7.89 4.33 13.9%INDITEX 7.50 6.86 5.97 5.21 3.90 4.00 3.60 3.25 2.95 2.66 19.81 18.08 16.13 14.45 15.07 13.60 12.14 10.98 9.76 26.76 23.94 21.35 19.17 17.09 2.22 2.45 2.79 3.12 3.55 108.25 5.6%ING GROEP NV-CVA 0.44 0.40 0.38 0.37 0.52 0.57 0.52 0.51 7.42 5.75 5.19 4.96 5.99 0.00 0.30 3.29 4.84 7.98 38.9%INTESA SANPAOLO 0.38 0.37 0.36 0.36 1.07 1.11 1.08 1.06 2.38 2.41 2.29 2.18 11.67 10.21 7.53 6.16 7.16 4.46 4.55 6.03 6.99 7.86 1.41 23.3%KONINKLIJKE PHILIPS ELECTRON 1.88 1.88 1.77 1.63 1.45 0.91 0.90 0.88 0.84 0.83 11.46 9.40 7.98 7.49 6.87 8.47 6.82 6.21 5.64 5.59 19.67 14.40 12.47 11.12 9.69 3.23 3.35 3.61 3.85 3.93 24.21 3.0%LOREAL 3.85 3.37 3.11 2.86 2.40 3.29 3.14 2.96 2.78 2.65 20.25 18.75 17.37 16.23 15.36 16.27 15.20 14.14 13.25 12.46 25.45 23.77 21.94 20.12 18.98 1.81 2.02 2.20 2.45 2.62 113.54 -6.7%LVMH MOET HENNESSY LOUIS VUI 2.64 2.44 2.21 2.00 1.62 2.38 2.20 2.03 1.88 1.75 13.88 12.89 11.67 10.83 11.17 10.34 9.47 8.58 7.79 7.50 18.24 17.34 15.46 13.83 12.35 2.28 2.50 2.81 3.13 3.30 152.49 16.0%MUENCHENER RUECKVER AG-REG 1.00 0.93 0.89 0.84 0.82 0.48 0.48 0.46 0.45 0.38 8.42 9.07 8.86 8.91 9.86 4.58 4.74 4.88 5.14 5.27 147.33 -0.9%REPSOL SA 0.77 0.73 0.70 0.66 0.58 0.34 0.34 0.34 0.36 0.39 4.16 4.10 3.92 3.87 3.98 4.89 4.63 4.48 4.31 4.07 10.33 9.81 9.40 9.03 8.55 5.46 5.78 5.92 6.10 6.11 18.75 15.5%RWE AG 1.12 1.14 1.09 1.04 0.92 0.35 0.34 0.33 0.32 0.31 3.00 3.13 3.18 3.42 2.89 3.92 3.89 3.98 4.04 4.06 7.19 7.49 8.23 8.52 8.25 6.90 6.76 6.47 6.20 6.28 30.15 3.1%SANOFI 1.78 1.74 1.67 1.60 1.48 2.96 2.87 2.72 2.58 2.49 11.04 10.99 10.12 8.62 7.93 8.31 8.51 7.84 7.24 6.95 12.56 12.92 11.58 10.52 9.70 3.57 3.79 4.20 4.67 5.20 79.18 1.9%SAP AG 5.23 4.46 3.74 3.13 2.63 4.67 4.23 3.84 3.51 3.25 19.21 15.31 13.57 11.82 11.04 14.28 12.28 10.88 9.61 8.72 20.07 17.88 15.77 13.89 12.93 1.36 1.54 1.78 1.98 1.94 65.45 5.7%SCHNEIDER ELECTRIC SA 1.84 1.76 1.64 1.54 1.32 1.30 1.23 1.16 11.59 11.09 9.85 9.40 9.59 8.92 8.19 7.65 14.84 13.79 12.37 11.31 3.09 3.40 3.71 4.05 59.03 3.8%SIEMENS AG-REG 2.31 2.34 2.12 1.93 1.50 0.97 0.97 0.93 0.90 0.87 10.28 11.03 9.34 8.50 8.64 8.82 9.18 7.65 7.13 7.37 14.01 14.12 11.41 10.54 9.67 3.57 3.64 3.94 4.18 4.45 86.64 0.8%SOCIETE GENERALE 0.46 0.44 0.41 0.39 0.87 0.84 0.81 0.78 3.92 3.51 3.18 2.85 9.27 7.17 5.95 5.29 1.97 3.92 5.19 6.63 33.60 30.8%TELEFONICA SA 2.16 2.06 1.94 1.77 1.69 0.79 0.83 0.82 0.82 0.82 3.39 3.48 3.44 3.58 4.46 5.27 5.48 5.46 5.45 5.46 8.92 9.54 9.16 8.75 8.91 1.18 6.91 7.29 6.88 8.86 11.29 4.2%TOTAL SA 1.16 1.09 1.00 0.91 0.91 0.50 0.50 0.50 0.51 0.52 3.92 3.77 3.67 3.40 3.26 3.18 3.19 3.12 3.01 2.68 6.95 7.19 7.14 6.71 6.23 6.16 6.28 6.41 6.66 6.86 45.78 20.7%UNIBAIL-RODAMCO SE 1.38 1.25 1.16 1.05 0.89 13.10 11.00 10.04 9.55 8.56 18.33 17.75 16.41 14.75 12.76 23.45 22.02 20.34 18.95 18.27 19.24 18.04 16.61 15.19 13.85 4.59 4.83 5.19 5.60 5.90 181.68 -0.6%UNICREDIT SPA 0.31 0.31 0.30 0.29 0.77 0.79 0.77 0.74 1.91 1.92 1.75 1.60 23.50 15.48 8.22 5.70 1.73 2.32 3.99 5.39 3.96 18.0%UNILEVER NV-CVA 5.73 5.17 4.55 4.09 3.63 1.88 1.80 1.70 1.60 1.53 15.94 14.64 13.59 12.37 11.60 12.62 11.84 11.06 10.24 9.79 20.02 18.72 17.24 15.84 14.71 3.00 3.20 3.42 3.63 3.94 31.63 -0.1%VINCI SA 1.46 1.38 1.31 1.19 1.04 0.54 0.53 0.52 0.51 0.47 5.21 5.05 4.91 4.62 4.35 6.42 6.33 6.16 5.93 5.52 10.32 10.13 9.57 9.11 8.07 5.02 5.07 5.29 5.67 5.90 43.76 23.0%VIVENDI 1.04 1.07 1.03 1.02 1.03 0.76 0.75 0.74 0.73 0.72 3.57 3.85 3.72 3.51 3.59 4.84 4.95 4.82 4.74 4.60 8.12 9.11 8.57 8.27 8.16 6.15 6.03 6.28 6.60 7.95 17.84 9.4%VOLKSWAGEN AG-PREF 0.94 0.87 0.77 0.67 0.65 0.37 0.35 0.33 0.31 0.31 3.29 3.35 2.98 3.06 2.63 7.64 6.94 6.21 5.80 5.01 7.30 7.23 6.25 5.65 5.25 2.46 2.81 3.45 4.34 4.19 192.58 22.9% Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  4. 4. 26.03.2013Air Liquide SAAir Liquide SA, through its subsidiaries, produces, markets, and sells Price/Volumeindustrial and healthcare gases worldwide. These gases include liquid nitrogen, 120 3.5 Margon, carbon dioxide, and oxygen. The Company also produces welding equipment, 100 3.0 Mdiving equipment, and technical-medical equipment. Air Liquide sells itsproducts throughout Europe, the United States, Canada, Africa, and Asia. 2.5 M 80 2.0 M 60 Valuation Analysis 1.5 MLatest Fiscal Year: 12/2012 40 1.0 MLTM as of: 09/yy 20 .5 M52-Week High (21.09.2012) 100.00 0 .0 M52-Week Low (18.05.2012) 83.45 m-11 a-11 m-11 j-11 j-11 a-11 s-11 o-11 n-11 d-11 j-12 f-12 m-12Daily Volume 169244.00 Current Price (3/dd/yy) 94.83 Market Data 52-Week High % Change -5.19% Dividend Yield - 52-Week Low % Change 13.63% Beta 0.76 % 52 Week Price Range High/Low 64.95% Equity Float 311.10Shares Out 08.03.2013 312.5 Short Int - Market Capitalization 29629.93 1 Yr Total Return 7.50%Total Debt 7273.70 YTD Return -0.23%Preferred Stock 0.0 Adjusted BETA 0.756Minority Interest 232.6 Analyst Recs 35Cash and Equivalents 1154.20 Consensus Rating 3.543Enterprise Value 35982.03 Average Daily Trading Volume Relative Stock Price Performance Average Volume 5 Day 910620AI FP EQUITY YTD Change - Average Volume 30 Day 933595AI FP EQUITY YTD % CHANGE - Average Volume 3 Month 770134 Fiscal Year Ended LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 09/yy 09/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2 Total Revenue 13103.1 11976.1 13488.0 14456.9 15326.3 13003.5 14255.5 16327.5 17503.5 3966.8 3976.0 TEV/Revenue 1.73x 2.25x 2.38x 2.25x 2.34x 0.00x 0.00x 2.20x 2.03x - 9.03x EBITDA 2941.8 2969.0 3374.3 3563.6 3792.3 0.0 0.0 4091.5 4441.9 - 1976.0 TEV/EBITDA 7.71x 9.08x 9.50x 9.13x 9.48x 0.00x 0.00x 8.81x 8.11x - - Net Income 1220.0 1230.0 1403.6 1534.9 1609.4 0.0 0.0 1733.8 1918.7 - 879.0 P/E 13.93x 17.67x 18.97x 17.60x 18.38x 0.00x 0.00x 17.02x 15.39x - - Profitability S&P Issuer RatingsEBITDA 3792.30 Long-Term Rating Date 02.07.2007EBIT 2560.50 Long-Term Rating AOperating Margin 16.71% Long-Term Outlook POSPretax Margin 14.63% Short-Term Rating Date 06.05.2004Return on Assets 6.55% Short-Term Rating A-1Return on Common Equity 16.12% Credit RatiosReturn on Capital - EBITDA/Interest Exp. 13.84Asset Turnover 0.62% (EBITDA-Capex)/Interest Exp. 6.51Margin Analysis Net Debt/EBITDA 1.61Gross Margin - Total Debt/EBITDA 1.92EBITDA Margin 24.7% ReferenceEBIT Margin 16.7% Total Debt/Equity 71.2%Net Income Margin 10.5% Total Debt/Capital 41.1%Structure Asset Turnover 0.62Current Ratio 1.03 Net Fixed Asset Turnover 1.23Quick Ratio 0.77 Accounts receivable turnover-days 66.93Debt to Assets 29.09% Inventory Days -Tot Debt to Common Equity 71.23% Accounts Payable Turnover Day -Accounts Receivable Turnover 5.47 Cash Conversion Cycle -Inventory Turnover -Price/ Cash Flow Sales/Revenue/Turnover 14.00 16000.0 12.00 14000.0 12000.0 10.00 10000.0 8.00 8000.0 6.00 6000.0 4.00 4000.0 2.00 2000.0 0.00 0.0 02.01.2009 02.07.2009 02.01.2010 02.07.2010 02.01.2011 02.07.2011 02.01.2012 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  5. 5. 26.03.2013Air Liquide SAHoldings By: All Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeNATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 4602821 1.62 332555 30.06.2011 Mutual Fund ManagerTHORNBURG INVESTMENT Multiple Portfolios MF-AGG 4158340 1.46 - 31.12.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 2834874 1 61554 31.12.2011 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 1442705 0.51 (1613) 07.03.2012 Investment AdvisorAIR LIQUIDE n/a Co File 1339624 0.47 - 31.12.2010 CorporationAMUNDI Multiple Portfolios MF-AGG 1178326 0.42 111689 30.12.2011 Mutual Fund ManagerDEUTSCHE BANK AG Multiple Portfolios MF-AGG 1151189 0.41 (369) 31.01.2012 Investment AdvisorCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 1055066 0.37 (452336) 31.12.2011 Investment AdvisorMASSACHUSETTS FINANC Multiple Portfolios MF-AGG 1033942 0.36 (5605) 31.12.2011 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 872830 0.31 (582) 07.03.2012 Investment AdvisorAMUNDI Multiple Portfolios MF-AGG 816304 0.29 (2392) 30.12.2011 Mutual Fund ManagerFIDELITY INTERNATION Multiple Portfolios MF-AGG 812698 0.29 653801 30.12.2011 Investment AdvisorMERCURY ASSET MANAGE Multiple Portfolios MF-AGG 795418 0.28 (9820) 07.03.2012 Investment AdvisorBESSEMER GROUP INCOR Multiple Portfolios MF-AGG 775161 0.27 - 31.10.2011 Investment AdvisorT ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 694738 0.24 (31780) 31.12.2011 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 678737 0.24 (22020) 31.01.2012 Investment AdvisorWILLIAM BLAIR & COMP WILLIAM BLAIR & COMP 13F 608046 0.21 (1432) 30.09.2011 Investment AdvisorBANK OF NEW YORK MEL Multiple Portfolios MF-AGG 581653 0.2 (8773) 07.03.2012 Investment AdvisorLBPAM Multiple Portfolios MF-AGG 507326 0.18 (993) 30.11.2011 Mutual Fund ManagerROTHSCHILD & COMPAGN Multiple Portfolios MF-AGG 457871 0.16 - 30.09.2011 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date DateBanco Sabadell PATRICIA GARCIA SANCHEZ buy 5 M 115 Not Provided 05.03.2012EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 02.03.2012AlphaValue VERONIQUE COLAS add 4 M 101 6 month 01.03.2012Macquarie JUERGEN RECK outperform 5 M 108 12 month 25.02.2012Exane BNP Paribas HEIDI VESTERINEN neutral 3 M 104 Not Provided 24.02.2012Day by Day VALERIE GASTALDY buy 5 U 109 3 month 22.02.2012Collins Stewart PAUL W SATCHELL hold 3 M 90 Not Provided 22.02.2012Commerzbank Corporates & Markets STEPHAN KIPPE add 4 M 104 6 month 21.02.2012BHF-Bank ANNETT WEBER market weight 3 M 101 12 month 21.02.2012Landesbank Baden-Wuerttemberg ULLE WORNER buy 5 M 110 Not Provided 21.02.2012CA Cheuvreux KLAUS RINGEL outperform 5 D 108 Not Provided 21.02.2012Independent Research GmbH STEFAN ROEHLE hold 3 M 106 6 month 21.02.2012Societe Generale PETER CLARK buy 5 M 106 12 month 20.02.2012Hamburger Sparkasse MARCO GUENTHER sell 1 M #N/A N/A Not Provided 20.02.2012Barclays Capital GUNTHER ZECHMANN underwt/positive 1 M 98 Not Provided 20.02.2012Morgan Stanley PETER MACKEY Equalwt/In-Line 3 M 100 12 month 17.02.2012Credit Suisse CHRIS COUNIHAN neutral 3 M 109 Not Provided 17.02.2012Sanford C. Bernstein & Co JEREMY REDENIUS market perform 3 M 96 12 month 17.02.2012CM - CIC Securities(ESN) ARI AGOPYAN hold 3 M 96 12 month 17.02.2012Nomura JEAN DE WATTEVILLE reduce 2 M 110 12 month 17.02.2012Standard & Poors Equity Research ANKIT JAIN hold 3 M 101 12 month 17.02.2012Main First Bank AG THOMAS SWOBODA neutral 3 M 102 Not Provided 09.02.2012Natixis FREDERIC WILLIAMS-GOBEAUX neutral 3 M 101 Not Provided 08.02.2012JPMorgan NEIL C TYLER overweight 5 M 108 12 month 02.02.2012Goldman Sachs RICHARD LOGAN neutral/neutral 3 M 122 12 month 30.01.2012HSBC GEOFF HAIRE neutral 3 M 104 Not Provided 26.01.2012ING Wholesale Banking FABIAN SMEETS not rated #N/A N/A M #N/A N/A Not Provided 19.01.2012Citi ANDREW BENSON neutral 3 M 100 Not Provided 12.12.2011Deutsche Bank TIMOTHY JONES hold 3 M 98 12 month 02.12.2011DZ Bank AG PETER SPENGLER buy 5 M 100 12 month 27.10.2011Oddo & Cie JEAN-PIERRE DMIRDJIAN buy 5 M 100 Not Provided 26.10.2011Alembic Global Advisors HASSAN I AHMED neutral 3 M 105 12 month 03.01.2011Redburn Partners TONY JONES buy 5 M #N/A N/A Not Provided 26.05.2010 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  6. 6. 26.03.2013Allianz SEAllianz SE, through subsidiaries, offers insurance and financial services. The Price/VolumeCompany offers property and casualty, life and health, credit, motor vehicle and 120 16.0 Mtravel insurance, and fund management services. 14.0 M 100 12.0 M 80 10.0 M 60 8.0 M Valuation Analysis 6.0 MLatest Fiscal Year: 12/2012 40 4.0 MLTM as of: 12/yy 20 2.0 M52-Week High (14.03.2013) 114.05 0 .0 M52-Week Low (04.06.2012) 68.50 m-11 a-11 m-11 j-11 j-11 a-11 s-11 o-11 n-11 d-11 j-12 f-12 m-12Daily Volume 542623.00 Current Price (3/dd/yy) 108.55 Market Data 52-Week High % Change -4.91% Dividend Yield - 52-Week Low % Change 58.47% Beta 1.25 % 52 Week Price Range High/Low 86.06% Equity Float 451.47Shares Out 31.12.2012 456.0 Short Int - Market Capitalization 49493.38 1 Yr Total Return 23.80%Total Debt 28651.00 YTD Return 3.58%Preferred Stock 0.0 Adjusted BETA 1.251Minority Interest 2665.0 Analyst Recs 43Cash and Equivalents 12437.00 Consensus Rating 4.279Enterprise Value 68372.37 Average Daily Trading Volume Relative Stock Price Performance Average Volume 5 Day 1585730ALV GY EQUITY YTD Change - Average Volume 30 Day 1974630ALV GY EQUITY YTD % CHANGE - Average Volume 3 Month 1710488 Fiscal Year Ended LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2 Total Revenue 76195.0 82711.0 89740.0 87384.0 96020.0 89413.0 64190.0 104171.7 107045.1 - - TEV/Revenue 0.69x 0.75x 0.67x 0.61x 0.69x 2.71x 2.83x 0.59x 0.57x - - EBITDA - - - - - 0.0 0.0 - - - - TEV/EBITDA - - - - - 0.00x 0.00x - - - - Net Income (2444.0) 4297.0 5053.0 2545.0 5169.0 4966.0 2545.0 5440.3 5682.2 - - P/E 8.51x 8.37x 7.94x 13.13x 9.18x 8.08x 13.15x 8.95x 8.55x - - Profitability S&P Issuer RatingsEBITDA - Long-Term Rating Date 27.01.2012EBIT - Long-Term Rating AAOperating Margin 10.61% Long-Term Outlook STABLEPretax Margin 8.95% Short-Term Rating Date 23.03.2009Return on Assets 0.77% Short-Term Rating A-1+Return on Common Equity 10.50% Credit RatiosReturn on Capital 8.01% EBITDA/Interest Exp. -Asset Turnover 0.14% (EBITDA-Capex)/Interest Exp. -Margin Analysis Net Debt/EBITDA -Gross Margin - Total Debt/EBITDA -EBITDA Margin - ReferenceEBIT Margin - Total Debt/Equity 53.5%Net Income Margin 5.4% Total Debt/Capital 33.8%Structure Asset Turnover 0.14Current Ratio - Net Fixed Asset Turnover -Quick Ratio - Accounts receivable turnover-days -Debt to Assets 4.12% Inventory Days -Tot Debt to Common Equity 53.50% Accounts Payable Turnover Day -Accounts Receivable Turnover - Cash Conversion Cycle -Inventory Turnover -Price/ Cash Flow Sales/Revenue/Turnover 6.00 100000.0 90000.0 5.00 80000.0 70000.0 4.00 60000.0 3.00 50000.0 40000.0 2.00 30000.0 20000.0 1.00 10000.0 0.00 0.0 02.01.2009 02.07.2009 02.01.2010 02.07.2010 02.01.2011 02.07.2011 02.01.2012 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  7. 7. 26.03.2013Allianz SEHoldings By: All Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst TypeBLACKROCK INC n/a EXCH 22861350 5.02 - 29.06.2011 Investment AdvisorAXA n/a Research 13449857 2.95 - 30.07.2010 Investment AdvisorBLACKROCK ASSET MANA Multiple Portfolios MF-AGG 11190894 2.46 (9000) 07.03.2012 Investment AdvisorDEUTSCHE BANK AG Multiple Portfolios MF-AGG 5848109 1.28 (33373) 31.01.2012 Investment AdvisorDB PLATINUM ADVISORS Multiple Portfolios MF-AGG 5710817 1.25 2479720 31.01.2012 Investment AdvisorHARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 5061636 1.11 (90446) 31.12.2011 Investment AdvisorVANGUARD GROUP INC Multiple Portfolios MF-AGG 4838347 1.06 84632 31.12.2011 Investment AdvisorHARRIS ASSOCIATES L HARRIS ASSOC LP 13F 4712955 1.04 213077 31.12.2011 Investment AdvisorUNION INVESTMENT GMB Multiple Portfolios MF-AGG 4510090 0.99 150583 31.03.2011 Investment AdvisorFIDELITY INTERNATION Multiple Portfolios MF-AGG 4305644 0.95 1036531 30.12.2011 Investment AdvisorTHORNBURG INVESTMENT Multiple Portfolios MF-AGG 3973507 0.87 282800 31.12.2011 Investment AdvisorBLACKROCK FUND ADVIS Multiple Portfolios MF-AGG 3756586 0.83 (512) 07.03.2012 Investment AdvisorFIDELITY MANAGEMENT Multiple Portfolios MF-AGG 3607698 0.79 217890 31.01.2012 Investment AdvisorADIG INVESTMENT Multiple Portfolios MF-AGG 2536585 0.56 54500 31.10.2011 Investment AdvisorALLIANZ GLOBAL INVES Multiple Portfolios MF-AGG 2497805 0.55 (150830) 31.10.2011 Investment AdvisorAMUNDI Multiple Portfolios MF-AGG 2321367 0.51 (846227) 30.12.2011 Mutual Fund ManagerDEKA INVESTMENT GMBH Multiple Portfolios MF-AGG 2141056 0.47 10236 31.10.2011 Mutual Fund ManagerCAPITAL WORLD INVEST Multiple Portfolios MF-AGG 1894650 0.42 (1026500) 31.12.2011 Investment AdvisorCOMINVEST ASSET MANA Multiple Portfolios MF-AGG 1717202 0.38 97100 31.10.2011 Mutual Fund ManagerSOCIETE GENERALE Multiple Portfolios MF-AGG 1713830 0.38 898985 30.12.2011 Bank Firm Name Analyst Recommendation Weighting Change Target Price Date DateBryan Garnier & Cie OLIVIER PAUCHAUT buy 5 M 100 6 month 09.03.2012DZ Bank AG THORSTEN WENZEL buy 5 M 105 12 month 09.03.2012Main First Bank AG MICHAEL HAID buy 5 M 105 12 month 07.03.2012Keefe, Bruyette & Woods WILLIAM HAWKINS market perform 3 D 120 12 month 04.03.2012Morgan Stanley JON HOCKING Overwt/In-Line 5 M 108 12 month 02.03.2012Oddo & Cie NICOLAS JACOB neutral 3 M 85 12 month 02.03.2012Barclays Capital ANDREW BROADFIELD overwt/neutral 5 M 109 Not Provided 02.03.2012Exane BNP Paribas THOMAS JACQUET outperform 5 M 108 Not Provided 01.03.2012Societe Generale EMMANUELLE CALES buy 5 M 100 12 month 29.02.2012Credit Suisse RICHARD BURDEN outperform 5 M 111 Not Provided 29.02.2012Commerzbank Corporates & Markets ROLAND PFAENDER add 4 M 100 6 month 28.02.2012HSBC KAILESH MISTRY overweight 5 M 110 Not Provided 28.02.2012Macquarie HADLEY COHEN outperform 5 M 110 12 month 28.02.2012Equinet Institutional Services(ESN) PHILIPP HAESSLER accumulate 4 M 104 12 month 28.02.2012Mediobanca SpA GIANLUCA FERRARI outperform 5 M 110 12 month 27.02.2012Nord/LB CONSTANTIN ROHRBACH hold 3 U 85 12 month 27.02.2012JPMorgan MICHAEL HUTTNER neutral 3 M 109 9 month 27.02.2012CA Cheuvreux ATANASIO PANTARROTAS outperform 5 M 105 Not Provided 27.02.2012Hamburger Sparkasse CHRISTIAN HAMANN buy 5 M #N/A N/A Not Provided 27.02.2012Kepler Capital Markets FABRIZIO CROCE hold 3 M 73 Not Provided 27.02.2012Nomura NICK HOLMES neutral 3 M 100 Not Provided 27.02.2012Collins Stewart BEN COHEN buy 5 M 100 Not Provided 27.02.2012Independent Research GmbH MATTHIAS ENGELMAYER hold 3 M 97 6 month 24.02.2012Standard & Poors Equity Research TONY SILVERMAN hold 3 M 109 12 month 24.02.2012RBC Capital Markets JEAN-FRANCOIS TREMBLAY outperform 5 M 110 12 month 23.02.2012Raymond James DANNY JACQUES market perform 3 D 95 Not Provided 23.02.2012Landesbank Baden-Wuerttemberg WERNER SCHIRMER hold 3 M 92 Not Provided 23.02.2012National Bank AG MANFRED JAISFELD buy 5 M 120 Not Provided 23.02.2012Bankhaus Metzler JOCHEN SCHMITT sell 1 M 81 12 month 23.02.2012WestLB Equity Markets ANDREAS SCHAEFER neutral 3 M #N/A N/A Not Provided 23.02.2012Silvia Quandt Research CHRISTIAN MUSCHICK neutral 3 M 88 18 month 23.02.2012Day by Day VALERIE GASTALDY buy 5 U 103 3 month 17.02.2012AlphaValue DIETER HEIN add 4 M 104 6 month 16.02.2012ING Wholesale Banking MAARTEN ALTENA buy 5 M 105 12 month 14.02.2012Goldman Sachs VINIT MALHOTRA Buy/Neutral 5 M 110 12 month 08.02.2012Banco Sabadell MARIO LODOS sell 1 D 97 Not Provided 06.02.2012Natixis BENOIT VALLEAUX buy 5 M 106 Not Provided 26.01.2012Redburn Partners PAUL GOODHIND buy 5 M #N/A N/A Not Provided 23.01.2012Berenberg Bank MICHAEL BROOM buy 5 M 123 12 month 09.01.2012EVA Dimensions TEAM COVERAGE hold 3 D #N/A N/A Not Provided 02.01.2012Grupo Santander VALVANERA GOMEZ PASTOR buy 5 M 104 Not Provided 16.12.2011Deutsche Bank SPENCER HORGAN buy 5 M 100 12 month 06.12.2011Jefferies JAMES SHUCK hold 3 M 85 12 month 14.11.2011 Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

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