Compass Group

Live  

The Compass Group is a multinational food service company that provides a variety of catering and support services to businesses, schools, hospitals, and other organizations around the world. It was founded in 1941 in London, England and has since grown to become one of the leading providers of food services globally.
The company operates in over 45 countries and has more than 600,000 employees. It offers a wide range of services including dining, vending, cleaning, and facility management. The Compass Group serves diverse industries such as healthcare, education, sports and leisure, and corporate offices.
The company has a strong commitment to sustainability and is constantly working towards reducing its environmental impact through initiatives such as reducing food waste, using sustainable packaging, and promoting energy-efficient practices.
Compass Group has also been recognized for its corporate social responsibility efforts, including its commitment to diversity and inclusion, and ethical business practices.
Compass Group is listed on the London Stock Exchange and is one of the largest employers in the food service industry. Its mission is to "deliver great experiences to customers and clients every day."

VGhlIENvbX Bhc3MgR3Jv dXAgaXMgYS BsZWFkaW5n IGZvb2QgYW 5kIHN1cHBv cnQgc2Vydm ljZXMgY29t cGFueSB0aG F0IG9wZXJh dGVzIGluIG 92ZXIgNDUg Y291bnRyaW VzIGFuZCBl bXBsb3lzIG 92ZXIgNjAw LDAwMCBwZW 9wbGUuIDxi cj4xLiBEaX ZlcnNlIHNl cnZpY2VzOi BUaGUgQ29t cGFzcyBHcm 91cCBvZmZl cnMgYSB3aW RlIHJhbmdl IG9mIHNlcn ZpY2VzIGlu Y2x1ZGluZy Bmb29kIGFu ZCBiZXZlcm FnZSwgY2F0 ZXJpbmcsIG ZhY2lsaXRp ZXMgbWFuYW dlbWVudCwg YW5kIHN1cH BvcnQgc2Vy dmljZXMuIF RoaXMgbWFr ZXMgdGhlbS BhIG9uZS1z dG9wIHNvbH V0aW9uIGZv ciBidXNpbm Vzc2VzIGFu ZCBvcmdhbm lzYXRpb25z Ljxicj4yLi BHbG9iYWwg cHJlc2VuY2 U6IFRoZSBj b21wYW55IG hhcyBhIHN0 cm9uZyBnbG 9iYWwgcHJl c2VuY2Ugd2 l0aCBvcGVy YXRpb25zIG luIG92ZXIg NDUgY291bn RyaWVzLCB3 aGljaCBhbG xvd3MgdGhl bSB0byBjYX RlciB0byBk aXZlcnNlIG N1bHR1cmFs IGFuZCBkaW V0YXJ5IG5l ZWRzLjxicj 4zLiBJbm5v dmF0aXZlIG FwcHJvYWNo OiBUaGUgQ2 9tcGFzcyBH cm91cCBpcy Brbm93biBm b3IgaXRzIG lubm92YXRp dmUgYXBwcm 9hY2ggdG8g Zm9vZHNlcn ZpY2UsIGNv bnN0YW50bH kgYWRhcHRp bmcgdG8gY3 VycmVudCB0 cmVuZHMgYW 5kIGNvbnN1 bWVyIHByZW ZlcmVuY2Vz LiBUaGV5IG Fsc28gaW52 ZXN0IGluIH Jlc2VhcmNo IGFuZCBkZX ZlbG9wbWVu dCB0byBlbn N1cmUgdGhl eSBhcmUgYX QgdGhlIGZv cmVmcm9udC BvZiB0aGUg aW5kdXN0cn kuPGJyPjQu IFN1c3RhaW 5hYmlsaXR5 IGVmZm9ydH M6IFRoZSBj b21wYW55IG hhcyBhIHN0 cm9uZyBjb2 1taXRtZW50 IHRvIHN1c3 RhaW5hYmls aXR5IGFuZC BoYXMgaW1w bGVtZW50ZW QgdmFyaW91 cyBpbml0aW F0aXZlcyB0 byByZWR1Y2 Ugd2FzdGUs IGNvbnNlcn ZlIHJlc291 cmNlcywgYW 5kIHN1cHBv cnQgbG9jYW wgY29tbXVu aXRpZXMuPG JyPjUuIEVt cGxveWVlIG ZvY3VzOiBU aGUgQ29tcG FzcyBHcm91 cCB2YWx1ZX MgaXRzIGVt cGxveWVlcy BhbmQgaXMg Y29tbWl0dG VkIHRvIHBy b3ZpZGluZy BhIHNhZmUs IGRpdmVyc2 UsIGFuZCBp bmNsdXNpdm Ugd29yayBl bnZpcm9ubW VudC4gVGhl eSBhbHNvIG 9mZmVyIHRy YWluaW5nIG FuZCBkZXZl bG9wbWVudC BvcHBvcnR1 bml0aWVzIG ZvciBjYXJl ZXIgZ3Jvd3 RoLjxicj42 LiBEZWVwIG luZHVzdHJ5 IGV4cGVydG lzZTogV2l0 aCBvdmVyID c1IHllYXJz IG9mIGV4cG VyaWVuY2Ug aW4gdGhlIG Zvb2QgYW5k IHN1cHBvcn Qgc2Vydmlj ZXMgaW5kdX N0cnksIHRo ZSBDb21wYX NzIEdyb3Vw IGhhcyBleH RlbnNpdmUg a25vd2xlZG dlIGFuZCBl eHBlcnRpc2 UgaW4gZGVs aXZlcmluZy BoaWdoLXF1 YWxpdHkgc2 VydmljZXMg dG8gYSB3aW RlIHJhbmdl IG9mIGNsaW VudHMuPGJy PjcuIEV0aG ljYWwgYnVz aW5lc3MgcH JhY3RpY2Vz OiBUaGUgY2 9tcGFueSBo YXMgYSBzdH JvbmcgY29k ZSBvZiBldG hpY3MgYW5k IGNvbmR1Y3 RzIGJ1c2lu ZXNzIHdpdG ggdHJhbnNw YXJlbmN5IG FuZCBpbnRl Z3JpdHksIH doaWNoIGhh cyBlYXJuZW QgdGhlbSBh IHJlcHV0YX Rpb24gZm9y IGV0aGljYW wgcHJhY3Rp Y2VzLjxicj 44LiBTdHJv bmcgY2xpZW 50IHBhcnRu ZXJzaGlwcz ogVGhlIENv bXBhc3MgR3 JvdXAgaGFz IGxvbmctdG VybSBwYXJ0 bmVyc2hpcH Mgd2l0aCBt YW55IHRvcC Bjb21wYW5p ZXMgYW5kIG 9yZ2FuaXNh dGlvbnMsIG RlbW9uc3Ry YXRpbmcgdG hlaXIgYWJp bGl0eSB0by BkZWxpdmVy IGNvbnNpc3 RlbnQgaGln aC1xdWFsaX R5IHNlcnZp Y2VzIGFuZC BidWlsZCBz dHJvbmcgcm VsYXRpb25z aGlwcyB3aX RoIGNsaWVu dHMuPGJyPj kuIFJlY29n bml0aW9uIG FuZCBhd2Fy ZHM6IFRoZS Bjb21wYW55 IGhhcyB3b2 4gbnVtZXJv dXMgYXdhcm RzIGFuZCBy ZWNvZ25pdG lvbnMgZm9y IHRoZWlyIG NvbW1pdG1l bnQgdG8gZX hjZWxsZW5j ZSwgaW5ub3 ZhdGlvbiwg c3VzdGFpbm FiaWxpdHks IGFuZCBjb3 Jwb3JhdGUg cmVzcG9uc2 liaWxpdHku PGJyPjEwLi BBZGFwdGlu ZyB0byBDT1 ZJRC0xOTog VGhlIENvbX Bhc3MgR3Jv dXAgaGFzIH Nob3duIHJl c2lsaWVuY2 UgZHVyaW5n IHRoZSBDT1 ZJRC0xOSBw YW5kZW1pYy BieSBxdWlj a2x5IGFkYX B0aW5nIGl0 cyBzZXJ2aW NlcyB0byBt ZWV0IHRoZS BjaGFuZ2lu ZyBuZWVkcy BhbmQgc2Fm ZXR5IGNvbm Nlcm5zIG9m IGNsaWVudH MsIGVtcGxv eWVlcywgYW 5kIGN1c3Rv bWVycy4=

Q29tcGFzcy BHcm91cCBp cyBhIG11bH RpbmF0aW9u YWwgY29udH JhY3QgZm9v ZHNlcnZpY2 UsIGhvc3Bp dGFsaXR5LC BhbmQgc3Vw cG9ydCBzZX J2aWNlcyBj b21wYW55IH RoYXQgb3Bl cmF0ZXMgaW 4gb3ZlciA0 NSBjb3VudH JpZXMgYW5k IHNlcnZlcy Btb3JlIHRo YW4gNS41IG JpbGxpb24g bWVhbHMgYS B5ZWFyLiBU aGVpciBidX NpbmVzcyBt b2RlbCBjYW 4gYmUgZGl2 aWRlZCBpbn RvIHRocmVl IG1haW4gZW xlbWVudHM6 IGZvb2RzZX J2aWNlLCBz dXBwb3J0IH NlcnZpY2Vz LCBhbmQgaG 9zcGl0YWxp dHkuPGJyPj EuIEZvb2Rz ZXJ2aWNlOj xicj5Db21w YXNzIEdyb3 VwIG9mZmVy cyBhIHJhbm dlIG9mIGZv b2RzZXJ2aW NlIHNvbHV0 aW9ucyB0by B2YXJpb3Vz IHNlY3Rvcn MgaW5jbHVk aW5nIGNvcn BvcmF0ZSwg ZWR1Y2F0aW 9uLCBoZWFs dGhjYXJlLC BzcG9ydHMg JiBsZWlzdX JlLCBhbmQg QiZJIChidX NpbmVzcyBh bmQgaW5kdX N0cnkpLiBU aGVpciBmb2 9kc2Vydmlj ZSBtb2RlbC BpbnZvbHZl cyBkZXNpZ2 5pbmcgYW5k IGRlbGl2ZX JpbmcgcGVy c29uYWxpem VkIG1lbnUg b3B0aW9ucy wgc291cmNp bmcgcXVhbG l0eSBpbmdy ZWRpZW50cy wgYW5kIG1h bmFnaW5nIH RoZSBlbnRp cmUgZm9vZH NlcnZpY2Ug cHJvY2Vzcy 4gVGhpcyBp bmNsdWRlcy BoYW5kbGlu ZyBmb29kIH ByZXBhcmF0 aW9uLCBzZX J2aWNlLCBh bmQgY2F0ZX JpbmcgZm9y IGV2ZW50cy BhbmQgZnVu Y3Rpb25zLj xicj4yLiBT dXBwb3J0IH NlcnZpY2Vz Ojxicj5Db2 1wYXNzIEdy b3VwIGFsc2 8gcHJvdmlk ZXMgYSByYW 5nZSBvZiBz dXBwb3J0IH NlcnZpY2Vz IHN1Y2ggYX MgY2xlYW5p bmcsIGZhY2 lsaXR5IG1h bmFnZW1lbn QsIGFuZCBy ZWNlcHRpb2 4gc2Vydmlj ZXMgdG8gYS BkaXZlcnNl IHJhbmdlIG 9mIGNsaWVu dHMuIFRoaX MgaW5jbHVk ZXMgc2Vydm ljZXMgbGlr ZSB3YXN0ZS BtYW5hZ2Vt ZW50LCBwZX N0IGNvbnRy b2wsIGFuZC BoZWFsdGgg YW5kIHNhZm V0eSBtYW5h Z2VtZW50Li BUaGVpciBz dXBwb3J0IH NlcnZpY2Vz IG1vZGVsIG FpbXMgdG8g ZW5oYW5jZS B0aGUgb3Zl cmFsbCBleH BlcmllbmNl IGFuZCBlZm ZpY2llbmN5 IG9mIHRoZW lyIGNsaWVu dHMnIG9wZX JhdGlvbnMu PGJyPjMuIE hvc3BpdGFs aXR5Ojxicj 5Db21wYXNz IEdyb3VwIG Fsc28gb2Zm ZXJzIGhvc3 BpdGFsaXR5 IHNlcnZpY2 VzIHN1Y2gg YXMgdmVudW UgbWFuYWdl bWVudCwgZX ZlbnQgcGxh bm5pbmcsIG FuZCBob3Rl bCBtYW5hZ2 VtZW50LiBU aGVpciBob3 NwaXRhbGl0 eSBtb2RlbC BpbnZvbHZl cyBwcm92aW RpbmcgaGln aC1xdWFsaX R5IGFuZCBj dXN0b21pem VkIHNlcnZp Y2VzIHRvIH RoZWlyIGNs aWVudHMsIH dpdGggYSBm b2N1cyBvbi BkZWxpdmVy aW5nIGV4Y2 VwdGlvbmFs IGN1c3RvbW VyIGV4cGVy aWVuY2VzLj xicj5PdmVy YWxsLCBDb2 1wYXNzIEdy b3VwJ3MgYn VzaW5lc3Mg bW9kZWwgaX MgYmFzZWQg b24gcHJvdm lkaW5nIGVu ZC10by1lbm Qgc29sdXRp b25zIHRvIH RoZWlyIGNs aWVudHMnIG Zvb2QsIHN1 cHBvcnQsIG FuZCBob3Nw aXRhbGl0eS BuZWVkcyB3 aXRoIGEgZm 9jdXMgb24g cXVhbGl0eS wgZWZmaWNp ZW5jeSwgYW 5kIGN1c3Rv bWVyIHNhdG lzZmFjdGlv bi4gVGhleS BhY2hpZXZl IHRoaXMgdG hyb3VnaCB0 aGVpciBnbG 9iYWwgcmVh Y2gsIHNjYW xlLCBhbmQg ZXhwZXJ0aX NlIGluIHZh cmlvdXMgaW 5kdXN0cmll cy4=

The sensitivity of Compass Group’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several key aspects:
1. Earnings Sensitivity: Compass Group, as a global food service and facilities management company, may experience changes in earnings due to shifts in interest rates primarily through increases in borrowing costs. Higher interest rates can lead to increased financing costs if the company relies on debt to fund operations or expansion. Additionally, higher rates may reduce consumer spending, negatively impacting revenue from its services, especially in sectors dependent on discretionary spending.
2. Cash Flow Sensitivity: Cash flow can also be affected by interest rate changes. If Compass Group has variable-rate debt, an increase in interest rates will raise interest expenses and reduce operating cash flows. Furthermore, the company’s ability to invest in growth or manage working capital could be hindered if higher interest rates limit access to affordable credit. Conversely, lower interest rates could enhance cash flow by reducing finance costs and fostering economic growth, benefiting sales.
3. Valuation Sensitivity: The valuation of Compass Group is typically derived from discounted cash flow (DCF) models or comparable company analysis, both of which can be sensitive to interest rate changes. Higher interest rates generally lead to a higher discount rate applied in DCF models, which can reduce the present value of future cash flows and, consequently, the company’s valuation. If investors anticipate rising rates, they might require a higher return on investment, further driving down the company’s stock price.
In summary, Compass Group’s earnings, cash flow, and valuation are influenced by interest rate changes through financing costs, consumer spending, cash flow availability, and risk perceptions among investors. Monitoring interest rate trends is essential for understanding potential impacts on the company’s financial health and market performance.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3Mvbk N2YjBHcENr Z2hwN3pmOW hURWIud2Vi cCIgYWx0PS JDb21wYXNz IEdyb3VwIi B0aXRsZT0i Q29tcGFzcy BHcm91cCIg IGNsYXNzPS JpbWctZmx1 aWQiIGhlaW dodD05MCB3 aWR0aD05MC Bsb2FkaW5n PSdsYXp5Jy BzdHlsZT0n Ym9yZGVyLX JhZGl1czog NnB4Oyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J2ZsZXg6 IDE7IHRleH QtYWxpZ246 IGNlbnRlcj sgbWFyZ2lu LWxlZnQ6ID VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8cCBzdHls ZT0nZm9udC 1zaXplOiAy NnB4OyBjb2 xvcjogIzMz MzsgbWFyZ2 luLWJvdHRv bTogMTVweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TiCBX YW50IHRvIH JlYWQgbW9y ZSBhYm91dC BDb21wYXNz IEdyb3VwPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+RpSBGcm VlIGVCb29r IGZvciBuZX cgdXNlcnM6 IDxpPiJUaG UgQ2hlY2ts aXN0IFZhbH VlIEludmVz dG9yIOKAlC BBIFNtYXJ0 ZXIgV2F5IH RvIFBpY2sg U3RvY2tzIj wvaT4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9wPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC EtLQogICAg ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdtYXJnaW 4tdG9wOiAx MnB4OyBmb2 50LXNpemU6 IDEzcHg7IG NvbG9yOiAj NDQ0Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIG5v dyBhbmQgZ2 V0IG91ciBm cmVlIGVCb2 9rIAogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGI+VGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2Nrczwv Yj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIC0t PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8IS0t CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 1hcmdpbi10 b3A6IDE2cH g7IGZvbnQt c2l6ZTogMT RweDsgY29s b3I6ICM0ND Q7IGZvbnQt ZmFtaWx5Oi AtYXBwbGUt c3lzdGVtLC BCbGlua01h Y1N5c3RlbU ZvbnQsIFNl Z29lIFVJLC BSb2JvdG8s IEhlbHZldG ljYSBOZXVl LCBzYW5zLX NlcmlmOyBs aW5lLWhlaW dodDogMS42 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBIYXZlIH lvdSBoZWFy ZCBhYm91dC BvdXIgc2hv cnQgPHN0cm 9uZyBzdHls ZT0nZm9udC 13ZWlnaHQ6 IDYwMDsnPk RhaWx5IFZp ZGVvIE5ld3 NsZXR0ZXI8 L3N0cm9uZz 4/CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdodHRwcz ovL3d3dy5p bnNpZ2h0Zn VsdmFsdWUu Y29tL25ld3 NsZXR0ZXIu cGhwJyB0YX JnZXQ9J19i bGFuaycgc3 R5bGU9J2Nv bG9yOiAjMD A3QkZGOyB0 ZXh0LWRlY2 9yYXRpb246 IG5vbmU7IG ZvbnQtd2Vp Z2h0OiA1MD A7IG1hcmdp bi1sZWZ0Oi A2cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBGaW5kIG 91dCBtb3Jl CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 L2E+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgIC AgICAgICAt LT4KICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgCiAgICAg ICAgCiAgIC AgICAgPHNw YW4gY2xhc3 M9J2JsdXJy ZWQtdGV4dC c+CiAgICAg ICAgICAgIE 1TNGdWR2hs SUcgTnZiWE JoYm5rZyBk MkZ6SUdadm RXIDVrWldR Z2FXNGcgTV RrME1TQmll UyBCS1lXTn JJRUpoIGRH VnRZVzRnWV ggTWdSbUZq ZEc5eSBlU0 JEWVc1MFpX IFZ1Y3lCTW FXMXAgZEdW a0xDQmhJRy BOaGRHVnlh VzVuIElHTn ZiWEJoYm4g a2dkR2hoZE NCeiBjR1Zq YVdGc2FYIH BsWkNCcGJp QncgY205Mm FXUnBibSBj Z1ptOXZaQ0 J6IFpYSjJh V05sY3kgQj BieUJtWVdO MCBiM0pwWl hNZ1lXIDVr SUdOdmJuTj AgY25WamRH bHZiaSBCem FYUmxjeTQ4 IFluSStNaT RnVkcgaGxJ R052YlhCaC BibmtnWTJo aGJtIGRsWk NCcGRITWcg Ym1GdFpTQj BieSBCRGIy MXdZWE56IE lFZHliM1Z3 SUcgbHVJRE U1T0RjZyBk MmhsYmlCcG RDIEJpWldO aGJXVWcgWV NCd2RXSnNh VyBOc2VTQj BjbUZrIFpX UWdZMjl0Y0 cgRnVlU0J2 YmlCMCBhR1 VnVEc5dVpH IDl1SUZOMG IyTnIgSUVW NFkyaGhibS BkbExqeGlj ajR6IExpQk RiMjF3WVgg TnpJRWR5Yj NWdyBJR2x6 SUdOMWNuIE psYm5Sc2VT QjAgYUdVZ2 QyOXliRyBU aWdKbHpJR3 hoIGNtZGxj M1FnWm0gOX ZaQ0J6WlhK MiBhV05sSU dOdmJYIEJo Ym5rc0lHOX cgWlhKaGRH bHVaeSBCcG JpQnZkbVZ5 IElEUTFJR0 52ZFcgNTBj bWxsY3lCaC BibVFnYzJW eWRtIGx1Wn lCdmRtVnkg SURVZ1ltbH NiRyBsdmJp QnRaV0ZzIG N5QmxZV05v SUggbGxZWE l1UEdKeSBQ alF1SUZSb1 pTIEJqYjIx d1lXNTUgSU doaGN5QmhJ RyBScGRtVn ljMlVnIGNH OXlkR1p2Yk cgbHZMQ0J3 Y205MiBhV1 JwYm1jZ1pt IDl2WkNCel pYSjIgYVdO bGN5QjBieS BCaElIZHBa R1VnIGNtRn VaMlVnYjIg WWdZMnhwWl c1MCBjeUJw Ym1Oc2RXIF JwYm1jZ1lu VnogYVc1bG MzTmxjeSB3 Z2FHOXpjR2 wwIFlXeHpM Q0J6WTIgaH ZiMnh6TENC MSBibWwyWl hKemFYIFJw WlhNc0lITn cgYjNKMGN5 QjJaVyA1MV pYTXNJR0Z1 IFpDQnRiM0 psTGogeGlj ajQxTGlCSi BiaUJoWkdS cGRHIGx2Ym lCMGJ5Qm0g YjI5a0lITm xjbiBacFky VnpMQ0JEIG IyMXdZWE56 SUUgZHliM1 Z3SUdGcyBj MjhnYjJabV pYIEp6SUhO MWNIQnYgY2 5RZ2MyVnlk bSBsalpYTW djM1ZqIGFD QmhjeUJqYk cgVmhibWx1 Wnl3ZyBiV0 ZwYm5SbGJt IEZ1WTJVc0 lHRnUgWkNC elpXTjFjbS BsMGVTQjBi eUJwIGRITW dZMnhwWlcg NTBjeTQ4WW 5JKyBOaTRn VkdobElHIE 52YlhCaGJu a2cgYUdGek lHRWdjMyBS eWIyNW5JR0 52IGJXMXBk RzFsYm4gUW dkRzhnYzNW eiBkR0ZwYm 1GaWJHIFVn Y0hKaFkzUn AgWTJWeklH RnVaQyBCb1 lYTWdjMlYw IElHRnRZbW wwYVcgOTFj eUIwWVhKbi BaWFJ6SUhS dklIIEpsWk hWalpTQnAg ZEhNZ1kyRn lZbSA5dUlH VnRhWE56IG FXOXVjeUJo Ym0gUWdjMj kxY21ObCBJ SE4xYzNSaG FXIDVoWW14 bElHbHUgWj NKbFpHbGxi biBSekxqeG ljajQzIExp QkpiaUF5TU QgRTVMQ0JE YjIxdyBZWE 56SUVkeWIz IFZ3SUhkaG N5QnUgWVcx bFpDQnZibS BVZ2IyWWdS bTl5IGRIVn VaZUtBbVgg TWdWMjl5Yk dUaSBnSmx6 SUUxdmMzIF FnUVdSdGFY SmwgWkNCRG IyMXdZVyA1 cFpYTWdhVz RnIGRHaGxJ R1p2YjIgUW dhVzVrZFhO MCBjbmtnWT JGMFpXIGR2 Y25rdVBHSn kgUGpndUlF TnZiWCBCaG MzTWdSM0p2 IGRYQWdhR0 Z6SUcgRWdk SEpoWTJzZy BjbVZqYjNK a0lHIDltSU hOMWNIQnYg Y25ScGJtY2 dZVyA1a0lI QnliMjF2IG RHbHVaeUJr YVggWmxjbk 5wZEhrZyBZ VzVrSUdsdV kyIHgxYzJs dmJpQjMgYV hSb2FXNGdh WCBSeklIZH ZjbXRtIGIz SmpaU3dnYV cgNWpiSFZr YVc1biBJR2 x1YVhScFlY IFJwZG1Wek lITjEgWTJn Z1lYTWdaMi BWdVpHVnlJ R1Z4IGRXRn NhWFI1SUcg RnVaQ0JvYV hKcCBibWNn YVc1a2FYIF pwWkhWaGJI TWcgWm5Kdm JTQmthWCBa bGNuTmxJR0 poIFkydG5j bTkxYm0gUn pManhpY2o0 NSBMaUJVYU dVZ1kyIDl0 Y0dGdWVTQm 8gWVhNZ1lT QnpkSCBKdm JtY2dabTlq IGRYTWdiMj RnYVcgNXVi M1poZEdsdi BiaUJoYm1R Z2FYIE1nWT I5dWMzUmgg Ym5Sc2VTQm xlSCBCc2Iz SnBibWNnIG JtVjNJSGRo ZVggTWdkRz hnYVcxdyBj bTkyWlNCcG RIIE1nYzJW eWRtbGogWl hNc0lITjFZ MiBnZ1lYTW dkWE5wIGJt Y2dkR1ZqYU cgNXZiRzlu ZVNCMCBieU JsYm1oaGJt IE5sSUdOMW MzUnYgYldW eUlHVjRjRy BWeWFXVnVZ MlZ6IElHRn VaQ0J5Wlcg UjFZMlVnZD JGeiBkR1V1 UEdKeVBqIE V3TGlCSmJp QnkgWlhOd2 IyNXpaUyBC MGJ5QjBhR1 VnIFEwOVdT VVF0TVQga2 djR0Z1WkdW dCBhV01zSU VOdmJYIEJo YzNNZ1IzSn YgZFhBZ2JH RjFibSBOb1 pXUWdZU0J3 IGNtOW5jbU Z0SUcgTmhi R3hsWkNCUy BaWE4wWVhW eVlXIDUwY3 lCaFoyRnAg Ym5OMElFaD FibSBkbGNp QjBieUJ6IG RYQndiM0ow SUggUm9aU0 JqYjIxdCBk VzVwZEhrZ1 luIGtnWkdW c2FYWmwgY2 1sdVp5QnRa VyBGc2N5Qj BieUIwIGFH OXpaU0JwYm kgQnVaV1Zr SUdGdSBaQ0 J6ZFhCd2Iz IEowYVc1bk lHeHYgWTJG c0lISmxjMy BSaGRYSmhi blJ6IExnPT 0KICAgICAg ICA8L3NwYW 4+CiAgICAg ICAgCiAgIC AgICAg
See Company Q&A