Fow Turkey Report EN with Layout
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Sayı 103 – Sermaye Piyasasında Gündem Mart 2011
sermaye piyasasında GüNDeM SAYI 103 MART 2011 ISSN 1304-8155 Endonezya Sermaye Piyasası (sayfa 7) Yabancı Piyasalarda Menkul Kıymet Kotasyonu ve Depo Sertifikaları (sayfa 16) TSPAKB TSPAKB Adına İmtiyaz Sahibi E. Nevzat Öztangut Başkan Genel Yayın Yönetmeni İlkay Arıkan Genel Sekreter Sorumlu Yazı İşleri Müdürü Alparslan Budak Genel Sekreter Yardımcısı Editör Ekin Fıkırkoca Müdür/Araştırma ve İstatistik Türkiye Sermaye Piyasası Aracı Kuruluşları Birliği Tasarım (TSPAKB), aracı kuruluşların üye olduğu, kamu Cennet Türker tüzel kişiliğini haiz özdüzenleyici bir meslek ku- Kıdemli Uzman/Eğitim ve Tanıtım ruluşudur. Efsun Ayça Değertekin Uzman/Araştırma ve İstatistik Birliğin 103 aracı kurum, 1 vadeli işlemler aracı- lık şirketi ve 41 banka olmak üzere toplam 145 Kapak Tasarımı ve Mizanpaj üyesi vardır. Cennet Türker Kıdemli Uzman/Eğitim ve Tanıtım Yayın Türü: Yaygın, süreli Sermaye piyasasında GüNDeM, TSPAKB’nin aylık iletişim organıdır. Para ile satılmaz. TSPAKB Büyükdere Caddesi No:173 1. Levent Plaza Kat:4 1. Levent 34394 İstanbul Tel:212-280 85 67 Faks:212-280 85 89 www.tspakb.org.tr [email protected] Basım Printcenter Bu rapora www.tspakb.org.tr adresinden ulaşabilirsiniz. Sermaye piyasasında GüNDeM, Türkiye Sermaye Piyasası Aracı Kuruluşları Birliği (TSPAKB) tarafından bilgilendirme ama- cıyla hazırlanmıştır. Bu raporda yer alan her türlü bilgi, değerlendirme, yorum ve istatistiki değerler, hazırlandığı tarih itibariyle güvenilirliğine inanılan kaynaklardan elde edilerek derlenmiştir. Bilgilerin hata ve eksikliğinden ve ticari amaçla kullanılmasından doğabilecek zararlardan TSPAKB hiçbir şekilde sorumluluk kabul etmemektedir. Raporda yer alan bilgi- ler kaynak gösterilmek şartıyla izinsiz yayınlanabilir. TSPAKB Sunuş KOBİ’lerin gelişmesi ve rekabet gücünün artması için alternatif fon kaynaklarına erişim, ekonomik kalkın- manın en önemli anahtarlarından birini oluşturuyor. -
Türkiye'nin Otomobili Sahneye Çıktı 'Yeni Lige' Yolculuk Başladı
Basın Bülteni 27 Aralık 2019 Türkiye’nin Otomobili sahneye çıktı ‘Yeni Lige’ yolculuk başladı Türkiye’nin Otomobili Girişim Grubu (TOGG) Bilişim Vadisi’nde gerçekleştirdiği ‘Yeniliğe Yolculuk’ buluşmasında, kuruluşundan bugüne geçen 18 ayda aldığı mesafeyi ve Türkiye’de teknolojik dönüşüme nasıl öncülük edeceğini paylaştı. Türkiye Odalar ve Borsalar Birliği (TOBB) ile perakende, otomotiv, telekomünikasyon ve tüketici elektroniği gibi farklı alanlarda deneyimleri olan Anadolu Grubu, BMC, Kök Grubu, Turkcell, Zorlu Grubu’nun sinerjisi ve daha önce Türkiye’de benzeri olmayan bir iş birliği modeliyle kurulan TOGG, otomotivin mobilite ekosistemine dönüştüğünün habercisi ilk ön gösterim araçlarını ülkemiz ve dünya sahnesine çıkardı. Türkiye’nin Otomobili Girişim Grubu (TOGG) 2022 yılında üretimine başlayacağı, geliştirme süreci devam eden C-SUV modelinin ön gösterim versiyonunu tanıttı. Gebze’deki Bilişim Vadisi’nde gerçekleşen Yeniliğe Yolculuk Buluşmasında C-SUV modeliyle birlikte bir de C- Sedan konsepti gösterildi. Resmi kuruluşu 28 Haziran 2018’de gerçekleşen ve kuruluşundan 18 ay sonra tasarım ve mühendislik çalışmalarının geldiği noktayı gösteren ilk ön gösterim aracını ve Sedan konseptini gün ışığına çıkaran TOGG, Türk Otomotiv endüstrisinin kalbi olan Bursa’nın Gemlik ilçesinde kurulacak fabrikasının temelini 2020 yılında atacak. 2030 yılına kadar ise fikri ve sınai mülkiyet hakları tamamen kendisine ait bir ortak e-platform üzerinde 5 farklı model üretecek. Cumhurbaşkanı Recep Tayyip Erdoğan, TBMM Başkanı Mustafa Şentop, Cumhurbaşkanı Yardımcısı Fuat Oktay, Cumhurbaşkanlığı Kabinesi Üyeleri, Türkiye Odalar ve Borsalar Birliği ve TOGG Yönetim Kurulu Başkanı Rifat Hisarcıklıoğlu, Türkiye’nin Otomobili Girişim Grubu hissedarları, İş dünyası temsilcileri ile TOGG çalışanları ve yakınlarının katıldığı 2 bin kişilik bir davetli topluğuyla gerçekleşen buluşmanın sonunda sahneye çıkan Türkiye’nin ilk otomobilleri büyük bir coşku ve beğeniyle karşılandı. -
Turkey Aerospace & Defense
TURKEY AEROSPACE & DEFENSE 2016 AEROSPACE TURKEY TURKEY AEROSPACE & DEFENSE 2016 Aerospace - Defense - Original Equipment Manufacturers Platforms - Clusters - Multinationals - Sub-Tier Suppliers Distinguished GBR Readers, Since the inception of the Undersecretariat for Defense Industries 30 years ago, significant steps have been taken to achieve the goals of having the Turkish armed forces equipped with modern systems and technologies and promoting the development of the Turkish defense industry. In the last decade alone, the aerospace and defense (A&D) sector's total turnover quadrupled, while exports have increased fivefold, reaching $5.1 billion and $1.65 billion in 2014, respectively. The industry's investment in research and development (R&D) reached almost $1 billion in 2014. The total workforce in the A&D industry reached 30,000 personnel, of which 30% are engineers. Even more remarkable, Turkey is now at the stage of offering its own platforms for both the local market and to international allies, and has commenced a series of follow up local programs. Although this progress has been achieved under the circumstances of a healthy and consistent political environment and in parallel with sustained growth in the Turkish economy, the proportion of expenditure for defense in the national budget and as a percentage of Turkey’s GDP has been stable. With the help of the national, multinational and joint defense industry projects that have been undertaken in Turkey by the undersecretariat, the defense industry has become a highly capable community comprising large-scale main contractors, numerous sub- system manufacturers, small- and medium-sized enterprises, R&D companies who are involved in high-tech, niche areas, research institutes, and universities. -
Liste Bursa 2019
List of participants - 29/07/2021 COMAG ENGINEERING GMBH GANJA AUTOMOTIVE PLANT COMAG Engineering is the specialist for solutions in the Car and Bus producers production of surface-clad automotive interior components as Azerbaijan well as innovative system solutions for other industries Austria BELCOMMUNNASH MAZ Public Transport manufacturer Minsk automobile plant- trucks Belarus Belarus MAZ-MAN OJSC BELAZ Heavy vehicles producer Major world manufacturer of mining dump trucks of heavy-duty Belarus and super-size load capacity, as well as the other heavy vehicles, being used in mining and construction branches of industry. Belarus VOLAT AUTOMOTIVE PARTS MANUFACTURERS' ASSOCIATION (APMA) Trucks and heavy vehicles Automotive parts manufacturers association Canada Belarus Canada BMW CHINA SERVICES LTD IMPRO INTERNATIONAL LIMITED Automotive manufacturer manufacturing engineered castings and precision machined China products China ZETOR TRACTOR AS 3P PRODUITS PLASTIQUES PERFORMANTS +420 533 430 111 Products designs, develops and manufactures solutions in high Czech Republic performance plastics and composites (PTFE, PFA, PEEK, etc, virgin or filled) to answer your challenges. France A2MAC1 - AUTOMOTIVE BENCHMARKING EIFFAGE ENERGIE SYSTÈMES - CLEMESSY World leader in automotive benchmarking From audit to design, integration to completion, commissioning France to maintenance, our specialists support all sectors of industry, in terms of infrastructure and utilities as well as processes. France PROTECHNIC SA ROCTOOL SA Production of thermoadhesive nets, webs and films in roll form From interior cosmetic parts to lightweighting of structural for dry lamination components, Roctool is the key to add value, fonctionality and France decoration to the product range. France SPAREX VALEO Spare parts for agriculture vehicules Valeo is an independent group, fully focused on the design, France manufacturing and sale of automotive spare parts France advanced business events - 35/37 rue des abondances - 92513 Boulogne-Billancourt Cedex - France www.advbe.com - [email protected] - Tel. -
1 Ocak 2021 Itibariyle Şirketlerin Katilim Endeksi
1 OCAK 2021 İTİBARİYLE ŞİRKETLERİN KATILIM ENDEKSİ KRİTERLERİNE UYGUNLUK DURUMU & ARINDIRMA ORANLARI Faaliyet alanı, grubu ve pazarı uygun olmayan şirketlerin finansal kriterleri hesaplanmamaktadır. Faizli krediler / (piyasa değeri ya da aktif toplamdan büyük olanı) < %33 kriterini geçemeyen şirketlerin diğer finansal kriterleri hesaplanmamaktadır. Faiz Getirili Nakit/(piyasa değeri ya da aktif toplamdan büyük olanı)<%33 kriterini geçemeyen şirketlerin diğer finansal kriterleri hesaplanmamaktadır. Toplam Faizli Uygunsuz Krediler / Piyasa (Nakit+Menkul Uygun Olmayan Sıra Hisse Kodu Hisse Adı Gerekçe Değeri veya Aktif (< Kıymet)/Piyasa Değeri Faaliyetlerden Gelir / %33) veya Aktif (<%33) Toplam Gelir (< %5) 1 BIMAS Bim Mağazalar Uygun 0,0% 0,0% 0,2% 2 EREGL Ereğli Demir Çelik Uygun 14,4% 25,3% 2,7% 3 ASELS Aselsan Uygun 9,6% 5,5% 1,5% 4 THYAO Türk Hava Yolları Uygun 18,3% 4,6% 4,3% 5 CCOLA Coca Cola İçecek Uygun 29,5% 18,4% 1,8% 6 GUBRF Gübre Fabrik. Uygun 22,7% 11,5% 0,3% 7 BERA Bera Holding Uygun 26,3% 0,0% 0,5% 8 TKFEN Tekfen Holding Uygun 14,0% 15,6% 1,2% 9 OYAKC Oyak Çimento Uygun 9,7% 6,2% -22,6% 10 PGSUS Pegasus Uygun 7,5% 12,4% 2,6% 11 EGEEN Ege Endüstri Uygun 4,3% 22,0% 2,1% 12 TTRAK Türk Traktör Uygun 30,7% 32,9% 2,3% 13 MAVI Mavi Giyim Uygun 30,2% 22,6% 1,5% 14 LOGO Logo Yazılım Uygun 7,6% 7,9% 2,8% 15 KARTN Kartonsan Uygun 0,0% 7,4% 1,8% 16 SELEC Selçuk Ecza Deposu Uygun 0,6% 10,6% 0,7% 17 ISDMR İskenderun Demir Çelik Uygun 4,9% 0,2% 1,3% 18 RTALB RTA Laboratuvarları Uygun 1,5% 0,1% 2,8% 19 CEMAS Çemaş Döküm Uygun 0,3% 17,9% -
Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT -
Assessing the Digital Economy: Aims, Frameworks, Pilots, Results, and Lessons Nagy K
Hanna Journal of Innovation and Entrepreneurship (2020) 9:16 Journal of Innovation and https://doi.org/10.1186/s13731-020-00129-1 Entrepreneurship RESEARCH Open Access Assessing the digital economy: aims, frameworks, pilots, results, and lessons Nagy K. Hanna Correspondence: nagyhanna@ comcast.net Abstract World Bank, Bethesda, MD, USA The article discusses the motivations for a holistic assessment of the digital economy. It outlines the pilot assessment program initiated by the World Bank Group and describes the assessment frameworks, tools, and processes deployed in selected pilot countries. It identifies the common challenges faced and lessons learned from applying these assessments in different contexts. These challenges include prioritizing digital diagnosis objectives, addressing inequality and poverty issues, securing participation and partnership of stakeholders, addressing implementation challenges, and integrating digital transformation strategy into a country development strategy. Other challenges include harnessing digital innovation and entrepreneurship, mobilizing local demand for the new technologies, engaging business in digital diagnosis, and adopting multi-disciplinary and whole-of-society approaches. The article addresses the implications of these challenges and draws broad lessons and practical recommendations for developing countries and aid agencies. Keywords: Digital economy, Digital development, Digital technologies, Digital innovation, Digital entrepreneurship, Digital strategy, Disruptive technologies Introduction A key aim of this article is to provide just-in-time learning from the rich experiences gained from developing digital economy (DE) assessment tools and piloting them in di- verse country contexts. Related aims are to share lessons on the effective use of these tools to enhance the quality of diagnostic advice, and improve the data that may be shared and used to inform the advice and subsequent digital strategy formulation. -
Strong Foundations Healthy Performance
STRONG FOUNDATIONS HEALTHY PERFORMANCE 2019 ANNUAL REPORT 2019 ANNUAL REPORT CONTENTS Anadolu Isuzu continues its Introduction 2 CORPORATE PROFILE operations in line with its growth 4 2019 FINANCIAL AND OPERATIONAL HIGHLIGHTS 6 HIGHLIGHTS IN 2019 strategy without interruption with 12 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS the market diversity its product 14 MESSAGE FROM THE PRESIDENT OF THE AUTOMOTIVE GROUP 16 MESSAGE FROM THE GENERAL MANAGER portfolio provides, its marketing 20 ANADOLU ISUZU FROM PAST TO PRESENT 22 SHAREHOLDERS OF ANADOLU ISUZU competencies and the support of 26 ANADOLU ISUZU’S PRODUCT PORTFOLIO its shareholders in the light of its 42 THE ECONOMY IN TURKEY AND THE WORLD 43 OVERVIEW OF THE SECTOR strengthening financial structure. In 2019 Tuğrul Arıkan 46 IN SUMMARY General Manager 47 EXPORT ACTIVITIES 53 MARKETING AND DEALER NETWORK DEVELOPMENT ACTIVITIES 55 AFTER-SALES SERVICES 56 SUPPLY CHAIN AT ANADOLU ISUZU 58 R&D AT ANADOLU ISUZU 62 PRODUCTION 64 ANADOLU ISUZU AND THE ENVIRONMENT 67 INDUSTRY 4.0 AND DIGITALIZATION PROJECTS 69 IM GLOBAL LEADER COMPANY 71 ENERGY PERFORMANCE OF ANADOLU ISUZU 72 HUMAN RESOURCES 78 OHS/EMPLOYEE SAFETY 79 SOCIAL AWARENESS PROJECTS AT ANADOLU ISUZU Corporate Governance 82 BOARD OF DIRECTORS 87 SENIOR MANAGEMENT 90 ORGANIZATION CHART 92 INDEPENDENT AUDIT REPORT 94 OTHER INFORMATION ABOUT ACTIVITIES 102 2019 AFFILIATE REPORT 103 CORPORATE GOVERNANCE Financial Information 125 CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 31 DECEMBER 2019 AND INDEPENDENT AUDITOR’S REPORT FOR -
Finanzmarktreport
Finanzmarktreport Ausgabe 6/2013 DenizBank AG Economic Research and Development Inhaltsverzeichnis Währungen ....................................................................................................................................................................... 2 Hauptwährungen ......................................................................................................................................................... 2 EUR/USD ....................................................................................................................................................................... 3 Staatsanleihen ................................................................................................................................................................. 3 Aktien Indizes .................................................................................................................................................................. 4 ATX ................................................................................................................................................................................ 4 Börse Istanbul (BIST) .................................................................................................................................................. 5 Rohstoffe .......................................................................................................................................................................... 6 Edelmetalle .................................................................................................................................................................. -
Technology Fast 50 Turkey Winners and CEO Survey 2016 A
T Technology Fast 50 50 2016 TURKEY Technology Fast 50 Turkey Winners and CEO Survey 2016 A world of possibilities November 2016 Technology Fast 50 Turkey Winners and CEO Survey 2016| A world of possibilities Foreword 1 Overview 2 Technology Fast 50 Turkey Program 4 The benefits of participating at Technology Fast 50 program 5 Technology Fast 50 Turkey 2016 Partners 7 Fast Facts 14 Technology Special Award 17 Big Stars 19 The Winners: Top ten companies 24 Technology Fast 50 Turkey 2016 winners profiles 36 Technology Fast 50 Turkey 2016 CEO survey 59 02 Technology Fast 50 Turkey Winners and CEO Survey 2016| A world of possibilities Foreword It’s my great pleasure to announce the results of the 11th Deloitte Technology Fast 50 Program aims nothing but to Deloitte Technology Fast 50 Turkey Program. encourage our technology ecosystem to innovate, excel, and inspire further. We believe that these recognized winners will Over the last ten years, we have been placing the fastest growing lead the growth and development in the industry. Turkish technology companies in the spotlight. Every year, we discover new entrants and witness the inspirational growth We would like to thank our long-standing partners MOBILSIAD, of the previous winners, feeling proud of Turkey’s technology TBD, TBV, TESID, TTGV, TUBISAD, and YASAD for their companies as they get local and global recognition. collaboration and support in making this program a success. Deloitte is proud to be part of this distinguished community and When we look at the past ten years, we see that 213 Turkish help our technology companies earn the global recognition they companies were ranked in the Program. -
Turkish Airlines Aviation
GENEL-PUBLIC March 8, 2018 Equity Research Turkish Airlines Aviation Company update Europeans are back Strong demand continue to support industry. Turkish Airlines recorded 15.5% YoY O&D pax growth, resulting in overall 8.4% BUY YoY international pax growth in 2017. In the same year, although foreign arrivals to Turkey recovered much by 27.8% YoY almost in Share price: TL17.37 all regions, European arrivals stayed flattish in 2017. Our conversations with Association of Turkish Travel Agencies claimed Target price: TL21.60 that summer bookings from Western Europe has jumped much by 60% YoY for 2018. Furthermore, summer bookings from domestic Expected Events tourist figures jumped to 6 million versus 5 million in previous year. We now estimate Turkish Airlines will carry 42.2 mn international March THY February-18 traffic passenger and 33.1 mn domestic passenger, overall resulting to April, 9th Market traffic results (March) 9.7% YoY passenger growth and improvement of 2.9 ppt in load factor to 82.1% in 2018E vs 79.1% in 2017. Although we revised up our revenue estimate of 2018E much by 6.7%, we cut down EBITDA margin estimate by 1ppt on the back of upward revision in our oil estimates and ex-fuel CASK by 5.9% after 4Q17 results Key Data performing worse than our estimates. Accordingly, we project THY to generate 13.2% revenue and 9.9% EBITDA CAGR over our Ticker THYAO forecast period (2017-2019E). Share price (TL) 17.37 There is still room for improvement on our assumptions. The 52W high (TL) 19.57 shares have gained 10.7% so far this year outperforming the 52W low (TL) 5.38 benchmark BIST 100 index by 9.4 percentage points. -
Exports Excl. F. Trac. 900 800 828 791 700 754 730 723 600 684 629
Automotive Production excl. F.Trac. 1,400 1,200 1,189 1,126 1,000 1,095 1,073 929 937 Thousand Thousand Units 800 870 600 400 200 0 2009 2010 2011 2012 2013 2013 10 2014 10 Months Months Retail Sales 1,000 900 800 911 893 818 700 793 600 675 Thousand Thousand Units 500 576 570 400 300 200 100 0 2009 2010 2011 2012 2013 2013 10 2014 10 Months Months Exports excl. F. Trac. 900 800 828 791 700 754 730 723 600 684 629 Thousand Thousand Units 500 400 300 200 100 0 2009 2010 2011 2012 2013 2013 10 2014 10 Months Months (Units) 2010 2011 2012 2013 10M2013 10M2014 %Chg Oct-13 Oct-14 %Chg Production 1,094,557 1,189,131 1,072,978 1,125,534 928,722 936,759 0.9% 88,579 100,977 14.0% Retail sales 793,172 910,867 817,620 893,124 674,511 569,615 -15.6% 71,037 70,186 -1.2% Exports 754,469 790,966 729,923 828,471 683,679 722,518 5.7% 65,539 69,187 5.6% CUR (%) 72.2% 75.2% 67.8% 74.4% 73.7% 67.1% 70% 72% (Units) 2010 2011 2012 2013 Oct-13 Oct-14 %Chg 10M2013 10M2014 %Chg Aug-14 Aug-13 Sept-Oct% Passenger Car 603,394 639,734 577,296 633,604 51,984 62,001 19.3% 516,514 593,493 14.9% 72,120 65,199 -14.0% Commercial Vehicle 491,163 549,397 495,682 491,930 36,595 38,976 6.5% 412,208 343,266 -16.7% 44,161 46,317 -11.7% Minibus 16,978 22,475 29,335 37,750 3,201 3,331 4.1% 31,542 27,471 -12.9% 3,656 4,122 -8.9% Midibus 2,658 3,509 4,158 5,197 448 394 -12.1% 4,255 4,584 7.7% 290 550 35.9% Bus 5,268 6,907 6,427 8,345 538 435 -19.1% 7,255 5,327 -26.6% 446 734 -2.5% Pick-Up 442,408 479,110 426,633 410,556 30,094 32,363 7.5% 344,390 281,745 -18.2% 36,589 38,111 -11.5%