Financial Analysis - Osisko Mining Corporation is a gold exploration compa…

27.02.2013

Ticker: Osisko Mining Corp Benchmark:

Currency: Toronto: OSK, Currency: CAD S&P/TSX COMPOSITE INDEX (SPTSX)

Sector: Materials Industry: Metals & Mining Year:

Telephone 1-514-735-7131 Revenue (M) Business Segments in CAD Sales (M) Geographic Segments in CAD Sales (M)

Website www.osisko.com No of Employees Gold Exploration 665 Unallocated Sales 1

Address Windsor Station Suite 300 1100 De La Gauchetiere West Montreal, PQ H3B 2S2 Canada

Share Price Performance in CAD

Price 6.15 1M Return -11.8%

52 Week High 12.98 6M Return -34.2%

52 Week Low 5.68 52 Wk Return -50.8%

52 Wk Beta 1.72 YTD Return -23.1%

Credit Ratings

Bloomberg IG8

S&P - Date - Outlook -

Moody's - Date - Outlook -

Fitch - Date - Outlook -

Valuation Ratios

12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

P/E - - 196.8x 34.8x 12.7x 9.1x 10.1x

EV/EBIT - - 160.3x 16.8x - - -

EV/EBITDA - - 85.0x 12.8x 6.7x 5.2x 5.6x

P/S - - 14.3x 4.7x 3.0x 2.6x 2.7x

P/B 2.6x 3.5x 2.3x 1.5x 1.2x 1.0x 1.0x

Div Yield 0.0% 0.0% 0.0% 0.0% 0.2% 0.6% 3.4%

Profitability Ratios %

12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Gross Margin - - 30.2 45.5 58.0 63.0 -

EBITDA Margin - - 18.0 39.4 48.3 54.5 52.6

Operating Margin - - 9.6 29.9 41.4 42.4 40.5

Profit Margin - - 6.8 11.8 24.1 29.3 26.4

Return on Assets -2.5 -1.1 0.9 3.3 14.8 10.8 4.9

Return on Equity -3.0 -1.3 1.1 4.1 9.1 9.6 7.4

Leverage and Coverage Ratios

12/09 12/10 12/11 12/12

Current Ratio 15.6 3.0 1.3 1.5 Current Capitalization in CAD

Quick Ratio 15.3 2.8 0.9 1.0 Common Shares Outstanding (M) 389.5

EBIT/Interest - - 1.4 6.4 Market Capitalization (M) 2683.8

Tot Debt/Capital 0.1 0.2 0.2 0.1 Cash and ST Investments (M) 112.6

Tot Debt/Equity 0.2 0.2 0.2 0.2 Total Debt (M) 345.4

Eff Tax Rate % - - - 48.0 Preferred Equity (M) 0.0

LT Investments in Affiliate Companies (M) 0.0

Investments (M) 0.0

Enterprise Value (M) 2916.7

Osisko Mining Corporation is a gold exploration company. The Company holds

interests in the Canadian Malartic gold deposit in Quebec, Canada.

OSK CN

665

#N/A N/A

Company Analysis - Overview

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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |

www.osisko.com

Osisko Mining Corp

Target price in CAD

Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date

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Company Analysis - Analysts Ratings

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27.02.2013

Osisko Mining Corp

Ownership Statistics Geographic Ownership Distribution

Shares Outstanding (M) 389.5 United States 41.38%

Float 99.0% Canada 32.88%

Short Interest (M) 30.1 Germany 14.81%

Short Interest as % of Float 7.80% Luxembourg 2.71%

Days to Cover Shorts 6.98 Britain 2.42%

Institutional Ownership 50.97% Unknown Country 1.95%

Retail Ownership 48.02% Switzerland 1.78%

Insider Ownership 1.02% Others 2.05%

Institutional Ownership Distribution

Investment Advisor 83.17%

Mutual Fund Manager 7.84%

Hedge Fund Manager 6.79%

Individual 1.95%

Pricing data is in CAD Others 0.24%

Top 20 Owners:

Holder Name Position Position Change Market Value % of Ownership Report Date Source Country

EURASIA HOLDING AG 33'356'367 0 205'141'657 7.64% 27.10.2009 SEDI GERMANY

GCIC LTD/CANADA 32'648'396 -7'713'560 200'787'635 7.48% 14.02.2012 Co File CANADA

BLACKROCK 17'126'608 4'083'693 105'328'639 3.92% 25.02.2013 ULT-AGG UNITED STATES

TOCQUEVILLE ASSET MA 14'515'480 3'600'860 89'270'202 3.33% 30.09.2012 13F UNITED STATES

FRANKLIN RESOURCES 12'169'560 266'190 74'842'794 2.79% 31.12.2012 ULT-AGG UNITED STATES

OPPENHEIMERFUNDS INC 10'295'653 200'000 63'318'266 2.36% 30.12.2012 MF-AGG UNITED STATES

IG INVESTMENT MANAGE 8'527'738 -1'029'374 52'445'589 1.95% 28.09.2012 MF-AGG CANADA

ROYAL BANK OF CANADA 8'173'682 409'466 50'268'144 1.87% 31.01.2013 ULT-AGG CANADA

FMR LLC 7'783'520 1'696'471 47'868'648 1.78% 31.12.2012 ULT-AGG UNITED STATES

VAN ECK ASSOCIATES C 5'989'691 0 36'836'600 1.37% 25.02.2013 MF-AGG UNITED STATES

FIRST EAGLE INVESTME 5'274'540 0 32'438'421 1.21% 30.09.2012 MF-AGG UNITED STATES

UNITED SERVICES AUTO 4'604'600 0 28'318'290 1.06% 30.11.2012 MF-AGG UNITED STATES

VANGUARD GROUP INC 4'222'430 49'580 25'967'945 0.97% 31.12.2012 MF-AGG UNITED STATES

LOMBARD ODIER DARIER 3'183'664 110'000 19'579'534 0.73% 31.12.2012 MF-AGG LUXEMBOURG

IA CLARINGTON INVEST 3'075'000 -371'400 18'911'250 0.70% 30.09.2012 MF-AGG CANADA

WELLS FARGO FUNDS MA 3'059'400 0 18'815'310 0.70% 31.12.2012 MF-AGG UNITED STATES

SPROTT INC 2'848'612 0 17'518'964 0.65% 30.06.2011 MF-AGG CANADA

AGF INVESTMENTS INC 2'614'064 507'300 16'076'494 0.60% 28.09.2012 MF-AGG CANADA

TD ASSET MANAGEMENT 2'603'325 -1'662'844 16'010'449 0.60% 31.12.2011 MF-AGG CANADA

HEXAVEST INC 2'323'686 403'129 14'290'669 0.53% 31.12.2012 13F CANADA

Top 5 Insiders:

Holder Name Position Position Change Market Value % of Ownership Report Date Source

WARES ROBERT P 1'471'000 -10'000 9'046'650 0.34% 11.09.2012 SEDI

ROOSEN SEAN E O 788'812 2'798 4'851'194 0.18% 17.01.2013 SEDI

STORM NORMAN 671'500 -5'000 4'129'725 0.15% 04.09.2012 SEDI

BURZYNSKI JOHN 538'900 10'000 3'314'235 0.12% 18.12.2012 SEDI

COATES BRYAN A 409'954 2'798 2'521'217 0.09% 01.02.2013 SEDI

Company Analysis - Ownership

Ownership Type

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Institutional Ownership

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TOP 20 ALL


Osisko Mining Corp

Financial information is in CAD (M)

Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Income Statement

Revenue 0 0 0 0 0 0 0 263 665 906 1'037 984

- Cost of Goods Sold 184 363

Gross Income 79 303 525 653

- Selling, General & Admin Expenses 0 1 2 2 8 12 11 21 34 54 104

(Research & Dev Costs) 0 0 0

Operating Income -0 -1 -2 -2 -8 -12 -11 -21 -34 25 199 375 440 398

- Interest Expense 0 0 0 0 0 0 0 0 18 31

- Foreign Exchange Losses (Gains) 0 0 0 0 3 -6 5 -3 1 -2

- Net Non-Operating Losses (Gains) 0 -0 -0 -0 -0 -4 -3 -3 -12 -5 19

Pretax Income -0 -2 -2 -8 -12 -3 -23 -20 11 151 356 478 401

- Income Tax Expense 0 0 0 0 0 -4 -2 -2 -7 72

Income Before XO Items -0 -1 -2 -2 -8 -12 1 -21 -18 18 78

- Extraordinary Loss Net of Tax 0 0 0 0 0 0 0 0 0 0 0

- Minority Interests 0 0 0 0 0 0 0 0 0 0 0

Diluted EPS Before XO Items (0.02) (0.03) (0.04) (0.02) (0.07) (0.09) 0.01 (0.08) (0.05) 0.05 0.20

Net Income Adjusted* -2 -2 -8 -12 -21 -0 18 180 218 304 259

EPS Adjusted (0.04) (0.02) (0.07) (0.09) (0.08) (0.06) 0.05 0.46 0.48 0.68 0.61

Dividends Per Share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.21

Payout Ratio % 0.0 0.0 0.0 0.03 0.06 0.35

Total Shares Outstanding 21 40 64 89 114 160 166 336 382 385 390

Diluted Shares Outstanding 20 26 60 89 106 132 168 260 360 390 391

EBITDA -2 -2 -8 -12 -11 -21 -34 47 262 437 565 517

*Net income excludes extraordinary gains and losses and one-time charges.

Equivalent Estimates

Company Analysis - Financials I/IV

Fiscal Year


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Balance Sheet

Total Current Assets 0.008393 0.695511 0.66 5.174321 18.342519 195.332 119.272 812.602 426.855 209.3 274.484

+ Cash & Near Cash Items 0 1 0 4 6 108 58 674 358 101 93

+ Short Term Investments 0 0 0 0 7 73 20 90 17 0 19

+ Accounts & Notes Receivable 0 0 0 1 5 14 22 38 31 39 62

+ Inventories 0 0 0 0 0 0 0 0 0 48 74

+ Other Current Assets 0 0 0 0 1 20 12 21 22 26

Total Long-Term Assets 0 1 1 2 13 69 199 526 1'532 1'860 2'394

+ Long Term Investments 0 0 0 1 0 6

Gross Fixed Assets 13 68 200 506

Accumulated Depreciation 0 0 1 2

+ Net Fixed Assets 0 1 1 2 13 68 199 504 1'478 1'801 2'330

+ Other Long Term Assets 0 0 0 0 0 16 54 59 64

Total Current Liabilities 0 0 1 0 4 12 27 52 144 162 179

+ Accounts Payable 0 0 0 4 12 25 46 74 75 101

+ Short Term Borrowings 0 0 0 0 0 1 6 70 86 77

+ Other Short Term Liabilities 0 0 0 0 0 0 0 0 0 1 1

Total Long Term Liabilities 0 0 0 0 0 0 24 185 229 261 348

+ Long Term Borrowings 0 0 0 0 0 0 24 185 225 253 269

+ Other Long Term Borrowings 0 0 0 0 0 0 0 3 8 79

Total Liabilities 0 0 1 0 4 12 51 238 373 423 527

+ Long Preferred Equity 0 0 0 0 0 0 0 0 0 0 0

+ Minority Interest 0 0 0 0 0 0 0 0 0 0 0

+ Share Capital & APIC 2 4 6 13 42 278 292 1'146 1'663 1'725 2'134

+ Retained Earnings & Other Equity -2 -3 -5 -6 -14 -26 -24 -45 -77 -79 8

Total Shareholders Equity 0 1 1 7 28 253 267 1'101 1'586 1'646 2'142

Total Liabilities & Equity 0 1 2 7 32 264 318 1'339 1'959 2'069 2'668

Book Value Per Share 0.01 0.03 0.02 0.07 0.25 1.57 1.61 3.27 4.15 4.27 5.50 5.22 5.94 6.40

Tangible Book Value Per Share 0.01 0.03 0.02 0.07 0.25 1.57 1.61 3.27 4.15 4.27

Company Analysis - Financials II/IV


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Cash Flows

Net Income -0 -1 -2 -2 -8 -12 1 -21 -18 18 78 212 338 308

+ Depreciation & Amortization 0 0 0 0 0 0 0 22 64

+ Other Non-Cash Adjustments 0 0 1 1 4 9 -6 3 -4 36 132

+ Changes in Non-Cash Capital 0 -0 0 -1 -2 -0 1 8 0 10 -27

Cash From Operating Activities -0 -0 -1 -2 -5 -3 -3 -10 -21 86 247

+ Disposal of Fixed Assets 0 0 0 0 0 0 2 0 0 0 0

+ Capital Expenditures -0 -1 -2 -1 -11 -51 -130 -276 -498 -357 -229 -235 -285 -337

+ Increase in Investments 0 0 0 0 0 0 0 0 0 0 0

+ Decrease in Investments 0 0 0 0 0 0 0 0 0 0 0

+ Other Investing Activities 0 0 -0 0 -7 -67 50 -85 99 -1 -9

Cash From Investing Activities -0 -1 -2 -1 -18 -118 -78 -361 -399 -358 -238

+ Dividends Paid 0 0 0 0 0 0 0 0 0 0 0

+ Change in Short Term Borrowings 0 0 0 0 0 0 0 0 0 0 0

+ Increase in Long Term Borrowings 0 0 0 0 0 0 20 150 75 0 15

+ Decrease in Long Term Borrowings 0 0 0 0 0 0 -0 -1 -11 -12 -28

+ Increase in Capital Stocks 0 2 2 7 24 223 13 841 41 39 19

+ Decrease in Capital Stocks 0 0 0 0 0 0 -1 0 0 0 0

+ Other Financing Activities 0 0 0 -0 0 0 -1 -3 -1 -13 -23

Cash From Financing Activities 0 2 2 7 24 223 31 987 104 14 -17

Net Changes in Cash -0 1 -1 4 2 102 -50 616 -315 -258 -7

Free Cash Flow (CFO-CAPEX) -0 -1 -2 -3 -16 -54 -134 -286 -519 -271 18 127 141 5

Free Cash Flow To Firm 34

Free Cash Flow To Equity -0 -1 -2 -3 -16 -54 -112 -137 -455 -283 5

Free Cash Flow per Share -0.01 -0.04 -0.04 -0.04 -0.15 -0.41 -0.82 -1.10 -1.44 -0.71 0.05

Company Analysis - Financials III/IV


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Ratio Analysis

Valuation Ratios

Price Earnings 364.0x 196.8x 34.8x 12.7x 9.1x 10.1x

EV to EBIT 160.3x 16.8x

EV to EBITDA 85.0x 12.8x 6.7x 5.2x 5.6x

Price to Sales 14.3x 4.7x 3.0x 2.6x 2.7x

Price to Book 2.5x 6.7x 9.0x 10.4x 22.5x 3.7x 2.3x 2.6x 3.5x 2.3x 1.5x 1.2x 1.0x 1.0x

Dividend Yield 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.2% 0.6% 3.4%

Profitability Ratios

Gross Margin 30.2% 45.5% 58.0% 63.0%

EBITDA Margin 18.0% 39.4% 48.3% 54.5% 52.6%

Operating Margin 9.6% 29.9% 41.4% 42.4% 40.5%

Profit Margin 6.8% 11.8% 24.1% 29.3% 26.4%

Return on Assets -57.8% -70.5% -149.0% -35.3% -39.0% -8.0% 0.5% -2.5% -1.1% 0.9% 3.3% 14.8% 10.8% 4.9%

Return on Equity -102.3% -94.2% -199.2% -39.1% -43.3% -8.4% 0.6% -3.0% -1.3% 1.1% 4.1% 9.1% 9.6% 7.4%

Leverage & Coverage Ratios

Current Ratio 0.25 31.61 1.28 16.12 5.18 16.48 4.49 15.57 2.97 1.29 1.53

Quick Ratio 0.25 31.39 1.24 16.05 5.16 16.42 3.74 15.35 2.82 0.87 0.98

Interest Coverage Ratio (EBIT/I) 1.42 6.45

Tot Debt/Capital 0.50 0.15 0.11 0.00 0.00 0.00 0.09 0.15 0.16 0.17 0.14

Tot Debt/Equity 0.99 0.17 0.12 0.00 0.00 0.00 0.10 0.17 0.19 0.21 0.16

Others

Asset Turnover 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.28

Accounts Receivable Turnover 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.51 13.09

Accounts Payable Turnover 3.13 4.43

Inventory Turnover 7.74 5.98

Effective Tax Rate 48.0%

Company Analysis - Financials IV/IV


OSISKO MININGBARRICK GOLD

CRPKINROSS GOLD

FREEPORT-

MCMORAN

DETOUR GOLD

CORPBHP BILLITON LTD

ANGLOGOLD

ASHANTRIO TINTO LTD VALE SA-PF

KIRKLAND LAKE

GOSILVER WHEATON GOLDCORP INC

YAMANA GOLD

INCPAN AMER SILVER

AGNICO-EAGLE

MIN

12/2012 12/2012 12/2012 12/2012 12/2011 06/2012 12/2012 12/2012 12/2011 04/2012 12/2011 12/2012 12/2012 12/2012 12/2012

12.98 49.44 11.47 44.23 29.07 39.34 32'983.00 72.30 43.43 17.66 41.18 50.17 20.61 26.78 57.00

09.03.2012 28.02.2012 28.02.2012 29.02.2012 05.10.2012 20.02.2013 29.02.2012 14.02.2013 29.02.2012 29.02.2012 01.11.2012 29.02.2012 09.11.2012 29.02.2012 31.10.2012

5.68 30.75 7.14 30.54 18.45 30.09 22'175.00 48.37 31.73 5.11 23.11 32.32 12.76 13.79 31.91

20.02.2013 20.02.2013 09.05.2012 06.12.2012 15.05.2012 12.07.2012 22.02.2013 30.08.2012 04.09.2012 13.12.2012 16.05.2012 12.07.2012 16.05.2012 24.07.2012 23.04.2012

3'807'044 10'462'030 7'069'131 15'396'816 986'151 7'807'427 11'207 2'879'459 23'958'800 819'429 2'349'771 4'885'598 4'671'708 362'834 1'242'819

6.15 32.07 8.14 31.93 21.24 36.69 22'600.00 66.01 35.15 6.22 33.50 34.44 15.82 17.64 43.03

-52.6% -35.1% -29.0% -27.8% -26.9% -6.7% -31.5% -8.7% -19.1% -64.8% -18.6% -31.4% -23.2% -34.1% -24.5%

8.3% 4.3% 14.0% 4.6% 15.1% 21.9% 1.9% 36.5% 10.8% 21.7% 45.0% 6.6% 24.0% 27.9% 34.8%

389.5 1'001.1 1'140.1 949.0 101.9 5'297.6 384.9 1'847.0 5'097.3 70.2 353.5 811.5 745.8 151.9 172.3

2'683.8 32'105.5 9'280.5 30'318.5 2'504.1 182'793.3 87'001.5 101'728.3 193'312.7 436.3 11'871.6 27'948.7 11'900.2 2'678.1 7'409.2

345.4 13'943.0 2'632.6 3'527.0 413.2 28'330.0 30'376.0 26'819.0 49'121.0 8.8 78.6 783.0 431.8 78.0 843.0

- - - - - - - - - - - - - - -

- 2'663.0 75.5 3'768.0 - 1'215.0 186.5 11'156.0 3'144.0 - - 213.0 46.8 7.3 -

112.6 2'093.0 1'982.7 3'705.0 764.2 4'781.0 7'562.2 7'615.0 7'573.0 30.2 840.2 918.0 550.4 542.3 332.0

2'916.7 45'815.6 9'773.8 33'908.5 2'628.9 218'602.9 110'001.7 134'407.7 237'523.1 485.1 11'076.8 27'327.7 12'014.6 2'154.1 7'734.8

LFY 665.4 14'547.0 4'311.4 18'010.0 0.0 72'226.0 52'160.3 50'967.0 103'195.0 159.8 730.0 5'435.0 2'336.8 928.6 1'917.7

LTM 665.4 14'547.0 4'311.4 18'010.0 - 66'950.0 52'152.1 50'967.0 91'893.7 153.6 754.2 5'435.0 2'336.8 928.6 1'917.7

CY+1 905.7 15'576.2 4'593.8 22'676.3 - 68'522.1 67'169.1 58'856.0 91'162.9 155.1 821.0 6'044.5 2'929.3 1'160.5 1'962.4

CY+2 1'037.2 16'616.2 4'842.6 23'753.0 435.9 75'406.9 77'137.2 62'661.4 98'446.2 273.6 1'108.4 7'553.0 3'467.1 1'249.6 2'235.3

LFY 5.0x 3.4x 2.7x 2.0x #DIV/0! 3.3x 2.4x 3.1x 2.3x 4.6x 18.6x 5.5x 6.3x 2.6x 5.0x

LTM 5.0x 3.4x 2.7x 2.0x - 3.5x 2.3x 3.1x 2.5x 4.8x 18.0x 5.5x 6.5x 2.6x 5.0x

CY+1 3.0x 2.9x 2.1x 1.8x #DIV/0! 3.2x 1.6x 2.3x 2.7x 3.5x 13.3x 4.6x 3.9x 1.8x 3.9x

CY+2 2.3x 2.6x 2.0x 1.7x 6.5x 2.8x 1.3x 2.1x 2.5x 1.9x 10.5x 3.6x 3.1x 1.5x 3.4x

LFY 262.4 7'358.0 1'962.2 6'934.0 (57.0) 33'421.0 19'105.5 15'902.0 60'071.0 55.7 618.8 2'798.0 1'301.1 367.4 791.4

LTM 262.4 7'358.0 1'962.2 6'934.0 (56.6) 22'246.0 19'105.5 15'486.0 39'812.0 38.8 627.8 2'798.0 1'218.5 362.0 791.4

CY+1 437.5 8'488.3 2'174.1 10'395.4 (57.3) 29'030.4 30'056.4 22'112.5 37'568.1 31.1 686.7 3'308.5 1'709.8 513.7 870.8

CY+2 565.0 9'279.3 2'483.4 10'992.4 162.1 34'724.0 35'739.9 24'211.3 44'006.6 116.4 939.5 4'510.8 2'123.6 585.2 1'058.4

LFY 12.8x 6.7x 6.0x 5.2x -58.5x 7.1x 6.5x 9.9x 3.9x 13.3x 21.9x 10.7x 11.3x 6.5x 12.1x

LTM 12.8x 6.7x 6.0x 5.2x - 10.6x 6.3x 10.1x 5.8x 19.1x 21.6x 10.7x 12.3x 6.6x 12.1x

CY+1 6.2x 5.4x 4.5x 4.0x - 7.4x 3.5x 6.1x 6.5x 17.6x 15.9x 8.5x 6.7x 4.1x 8.8x


LFY 0.23 3.82 0.77 3.19 0.20 3.61 21.85 6.45 7.21 0.57 1.55 1.99 0.93 1.04 1.89

LTM 0.23 3.69 0.77 3.22 -0.03 1.83 24.22 -1.63 4.60 0.27 1.56 1.89 0.63 1.08 2.08

CY+1 0.48 4.36 0.80 4.44 (0.52) 2.56 33.23 6.07 4.18 0.06 1.66 2.11 1.12 1.60 2.09

CY+2 0.68 4.68 0.90 4.54 0.95 3.12 40.65 6.82 4.73 0.78 2.12 2.90 1.40 1.79 2.53

LFY 26.7x 8.5x 10.3x 9.9x - 20.6x 9.3x - 7.6x 23.0x 20.9x 17.7x 24.5x 15.9x 20.2x

LTM 26.7x 8.5x 10.3x 9.9x - 13.4x 9.1x - 7.6x 23.0x 20.9x 17.7x 24.5x 15.9x 20.2x

CY+1 12.7x 7.2x 9.9x 7.2x - 14.7x 6.8x 11.1x 8.4x 103.7x 19.7x 15.9x 13.8x 10.8x 20.1x


1 Year 152.6% 2.2% 12.2% (13.7%) - 0.7% (4.1%) (15.8%) 24.0% 54.7% 72.4% 1.4% 7.5% 8.6% 5.3%

5 Year - 17.9% 34.9% 15.3% - 6.8% 24.6% 11.2% 19.2% 72.4% 39.3% 19.3% 203.5% 47.9% 54.5%

1 Year 453.3% (11.6%) 1.9% (31.8%) 7.0% (12.1%) (17.8%) (39.5%) 29.9% 110.9% 95.7% (7.7%) 3.0% (17.6%) 5.1%

5 Year - 24.5% 40.7% (2.4%) - 8.0% 86.9% 8.7% 26.2% - 44.0% 21.0% 27.4% 25.6% 31.8%

LTM 39.4% 50.6% 45.5% 38.5% - 33.2% 36.6% 30.4% 43.3% 25.3% 83.2% 51.5% 52.1% 39.0% 41.3%

CY+1 48.3% 54.5% 47.3% 45.8% - 42.4% 44.7% 37.6% 41.2% 20.1% 83.6% 54.7% 58.4% 44.3% 44.4%

CY+2 54.5% 55.8% 51.3% 46.3% 37.2% 46.0% 46.3% 38.6% 44.7% 42.6% 84.8% 59.7% 61.3% 46.8% 47.4%

Total Debt / Equity % 16.1% 63.8% 26.7% 20.1% 32.7% 43.0% 65.8% 57.2% 34.2% 3.8% 3.0% 3.4% 5.8% 2.9% 24.7%

Total Debt / Capital % 13.9% 36.3% 21.0% 14.2% 24.6% 29.7% 39.6% 31.6% 25.1% 3.7% 2.9% 3.3% 5.4% 2.8% 19.8%

Total Debt / EBITDA 1.316x 1.895x 1.342x 0.509x - 1.595x 1.540x 1.732x 1.472x 2.286x 0.091x 0.280x 0.638x 0.215x 1.065x

Net Debt / EBITDA 0.887x 1.610x 0.331x -0.026x - 1.366x 1.156x 1.240x 1.033x 1.257x -0.793x -0.048x 0.305x -1.283x 0.646x

EBITDA / Int. Expense 8.512x 9.890x 13.838x - - 44.266x 10.074x 22.980x 24.998x 224.702x - 93.267x 26.129x 47.844x 13.672x

S&P LT Credit Rating - BBB+ BBB- BBB - A+ BBB- A- A- - - BBB+ - - NR

S&P LT Credit Rating Date - 30.07.2012 15.08.2011 29.07.2011 - 15.11.2010 10.12.2012 18.04.2011 23.11.2011 - - 01.06.2009 - - 12.03.2003

Moody's LT Credit Rating - Baa1 Baa3 Baa3 - (P)A1 - - Baa2 - - - - - WR

Moody's LT Credit Rating Date - 17.05.2011 15.08.2011 13.10.2010 - 15.11.2010 - - 29.08.2008 - - - - - 05.03.2002

52-Week High Date

52-Week Low

Latest Fiscal Year:

52-Week High

Total Debt

Market Capitalization

Daily Volume

52-Week Low % Change

Current Price (2/dd/yy)

52-Week High % Change

Cash and Equivalents

EBITDA

EV/EBITDA

Enterprise Value

Valuation

Preferred Stock

52-Week Low Date

Minority Interest

Total Common Shares (M)

P/E

Revenue Growth

Total Revenue

EV/Total Revenue

EPS

EBITDA Growth

EBITDA Margin

Credit Ratings

Leverage/Coverage Ratios

Company Analysis - Peers Comparision


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