Ferro SA
WSE:FRO
Income Statement
Earnings Waterfall
Ferro SA
Revenue
|
803.2m
PLN
|
Cost of Revenue
|
-500.1m
PLN
|
Gross Profit
|
303.1m
PLN
|
Operating Expenses
|
-203.6m
PLN
|
Operating Income
|
99.6m
PLN
|
Other Expenses
|
-32.5m
PLN
|
Net Income
|
67m
PLN
|
Income Statement
Ferro SA
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
270
N/A
|
274
+1%
|
272
-1%
|
270
-1%
|
271
+0%
|
276
+2%
|
282
+2%
|
284
+1%
|
292
+3%
|
303
+4%
|
313
+4%
|
321
+2%
|
332
+4%
|
344
+3%
|
348
+1%
|
362
+4%
|
365
+1%
|
372
+2%
|
381
+3%
|
388
+2%
|
406
+5%
|
416
+3%
|
426
+3%
|
441
+3%
|
451
+2%
|
467
+3%
|
598
+28%
|
623
+4%
|
519
-17%
|
682
+31%
|
665
-3%
|
743
+12%
|
831
+12%
|
923
+11%
|
928
+1%
|
928
+0%
|
915
-1%
|
867
-5%
|
825
-5%
|
812
-2%
|
803
-1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(193)
|
(195)
|
(191)
|
(189)
|
(188)
|
(193)
|
(198)
|
(201)
|
(209)
|
(216)
|
(223)
|
(224)
|
(228)
|
(234)
|
(237)
|
(246)
|
(248)
|
(251)
|
(255)
|
(259)
|
(273)
|
(280)
|
(288)
|
(296)
|
(300)
|
(308)
|
(390)
|
(405)
|
(336)
|
(443)
|
(429)
|
(480)
|
(541)
|
(606)
|
(612)
|
(612)
|
(601)
|
(564)
|
(532)
|
(517)
|
(500)
|
|
Gross Profit |
77
N/A
|
79
+3%
|
80
+1%
|
81
+1%
|
82
+1%
|
82
+0%
|
83
+1%
|
83
-1%
|
83
+1%
|
86
+4%
|
91
+5%
|
97
+7%
|
104
+8%
|
110
+5%
|
111
+1%
|
116
+4%
|
117
+1%
|
120
+3%
|
126
+5%
|
129
+2%
|
133
+3%
|
136
+2%
|
138
+2%
|
145
+5%
|
152
+5%
|
158
+5%
|
207
+31%
|
218
+5%
|
183
-16%
|
240
+31%
|
236
-2%
|
263
+12%
|
289
+10%
|
317
+9%
|
316
0%
|
316
+0%
|
314
-1%
|
303
-4%
|
293
-3%
|
295
+1%
|
303
+3%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(44)
|
(45)
|
(46)
|
(45)
|
(46)
|
(47)
|
(48)
|
(49)
|
(50)
|
(53)
|
(56)
|
(58)
|
(63)
|
(65)
|
(66)
|
(68)
|
(69)
|
(71)
|
(74)
|
(76)
|
(80)
|
(80)
|
(83)
|
(86)
|
(91)
|
(95)
|
(121)
|
(125)
|
(107)
|
(140)
|
(141)
|
(166)
|
(183)
|
(202)
|
(205)
|
(208)
|
(209)
|
(204)
|
(201)
|
(200)
|
(204)
|
|
Selling, General & Administrative |
(23)
|
(23)
|
(24)
|
(24)
|
(24)
|
(25)
|
(25)
|
(26)
|
(34)
|
(29)
|
(30)
|
(31)
|
(43)
|
(34)
|
(35)
|
(36)
|
(48)
|
(38)
|
(39)
|
(40)
|
(54)
|
(43)
|
(45)
|
(46)
|
(65)
|
(50)
|
(66)
|
(68)
|
(71)
|
(77)
|
(74)
|
(87)
|
(115)
|
(103)
|
(107)
|
(111)
|
(136)
|
(115)
|
(114)
|
(111)
|
(130)
|
|
Depreciation & Amortization |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(4)
|
(4)
|
(3)
|
(4)
|
(4)
|
(4)
|
(5)
|
(6)
|
(6)
|
(7)
|
(9)
|
(9)
|
(7)
|
(10)
|
(10)
|
(11)
|
(13)
|
(14)
|
(15)
|
(15)
|
(15)
|
(15)
|
(16)
|
(16)
|
(18)
|
|
Other Operating Expenses |
(19)
|
(19)
|
(20)
|
(19)
|
(20)
|
(20)
|
(20)
|
(20)
|
(14)
|
(22)
|
(22)
|
(23)
|
(16)
|
(25)
|
(26)
|
(27)
|
(17)
|
(30)
|
(32)
|
(33)
|
(22)
|
(33)
|
(33)
|
(34)
|
(20)
|
(38)
|
(46)
|
(47)
|
(29)
|
(54)
|
(57)
|
(68)
|
(55)
|
(84)
|
(84)
|
(82)
|
(57)
|
(74)
|
(72)
|
(73)
|
(55)
|
|
Operating Income |
33
N/A
|
35
+5%
|
35
0%
|
36
+4%
|
36
+1%
|
36
-1%
|
36
0%
|
34
-6%
|
33
-3%
|
34
+3%
|
35
+4%
|
38
+10%
|
41
+7%
|
45
+10%
|
45
+1%
|
48
+5%
|
47
-1%
|
49
+3%
|
52
+6%
|
53
+1%
|
53
+1%
|
56
+5%
|
55
0%
|
59
+6%
|
60
+2%
|
63
+5%
|
86
+36%
|
94
+9%
|
75
-19%
|
100
+32%
|
95
-4%
|
97
+2%
|
106
+9%
|
115
+8%
|
110
-4%
|
108
-2%
|
105
-3%
|
98
-6%
|
92
-7%
|
95
+3%
|
100
+5%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(6)
|
(7)
|
(5)
|
(6)
|
(7)
|
(9)
|
(9)
|
(8)
|
(6)
|
(5)
|
(4)
|
(4)
|
(4)
|
(3)
|
(1)
|
(1)
|
(7)
|
(7)
|
(12)
|
(14)
|
(7)
|
(9)
|
(6)
|
(7)
|
(6)
|
(5)
|
(5)
|
(1)
|
1
|
(1)
|
14
|
9
|
4
|
(0)
|
(20)
|
(27)
|
(26)
|
(24)
|
(23)
|
(17)
|
(17)
|
|
Non-Reccuring Items |
0
|
(2)
|
0
|
0
|
(2)
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
1
|
|
Total Other Income |
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(0)
|
(2)
|
(2)
|
0
|
(0)
|
0
|
(2)
|
(1)
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
|
Pre-Tax Income |
27
N/A
|
26
-5%
|
29
+13%
|
30
+2%
|
27
-8%
|
29
+7%
|
27
-9%
|
26
-3%
|
26
+2%
|
29
+9%
|
31
+7%
|
35
+13%
|
36
+5%
|
42
+15%
|
44
+5%
|
47
+8%
|
41
-14%
|
42
+3%
|
40
-5%
|
38
-3%
|
47
+22%
|
46
-1%
|
49
+6%
|
52
+6%
|
54
+3%
|
58
+8%
|
81
+39%
|
92
+14%
|
76
-17%
|
98
+29%
|
109
+11%
|
107
-2%
|
110
+3%
|
115
+4%
|
90
-21%
|
81
-10%
|
79
-3%
|
74
-6%
|
69
-7%
|
78
+13%
|
83
+6%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(5)
|
(4)
|
(4)
|
(4)
|
(3)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(5)
|
(7)
|
(7)
|
(9)
|
(9)
|
(10)
|
(29)
|
(30)
|
(30)
|
(28)
|
(9)
|
(9)
|
(10)
|
(10)
|
(14)
|
(15)
|
(18)
|
(21)
|
(14)
|
(19)
|
1
|
1
|
(0)
|
(1)
|
(16)
|
(15)
|
(12)
|
(12)
|
(13)
|
(15)
|
(15)
|
|
Income from Continuing Operations |
22
|
22
|
26
|
26
|
24
|
24
|
22
|
22
|
22
|
25
|
25
|
28
|
29
|
33
|
36
|
38
|
11
|
12
|
10
|
10
|
38
|
37
|
40
|
42
|
40
|
44
|
63
|
72
|
62
|
80
|
110
|
108
|
110
|
113
|
74
|
66
|
66
|
62
|
56
|
63
|
67
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
(2)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
|
Net Income (Common) |
22
N/A
|
22
+2%
|
26
+15%
|
26
+3%
|
24
-8%
|
24
+2%
|
22
-10%
|
22
-1%
|
22
+3%
|
25
+10%
|
25
+3%
|
28
+9%
|
29
+5%
|
33
+15%
|
36
+6%
|
38
+6%
|
11
-70%
|
12
+7%
|
10
-15%
|
10
+1%
|
38
+272%
|
37
-1%
|
40
+6%
|
42
+7%
|
40
-6%
|
44
+9%
|
63
+44%
|
72
+14%
|
62
-14%
|
80
+29%
|
109
+36%
|
107
-2%
|
108
+1%
|
111
+3%
|
72
-35%
|
64
-11%
|
65
+2%
|
62
-6%
|
56
-10%
|
63
+13%
|
67
+7%
|
|
EPS (Diluted) |
1.04
N/A
|
1.05
+1%
|
1.21
+15%
|
1.24
+2%
|
1.13
-9%
|
1.15
+2%
|
1.03
-10%
|
1.01
-2%
|
1.05
+4%
|
1.15
+10%
|
1.19
+3%
|
1.3
+9%
|
1.37
+5%
|
1.57
+15%
|
1.67
+6%
|
1.77
+6%
|
0.52
-71%
|
0.57
+10%
|
0.48
-16%
|
0.48
N/A
|
1.78
+271%
|
1.76
-1%
|
1.87
+6%
|
2
+7%
|
1.88
-6%
|
2.05
+9%
|
2.96
+44%
|
3.39
+15%
|
2.92
-14%
|
3.76
+29%
|
5.12
+36%
|
5.03
-2%
|
5.08
+1%
|
5.25
+3%
|
3.4
-35%
|
3.02
-11%
|
3.08
+2%
|
2.9
-6%
|
2.61
-10%
|
2.96
+13%
|
3.16
+7%
|