EFTA01459063.pdf

C Nl Deutsche Bank Securities Inc. Figure 11: S&P E.PS Model by industry 12 of 2) cn m Kona gerl 2015 .o 0 C. < 2/354 20.154 2007A 23384 13411 2010A 2011A 2012A 20134 20144 Or 2015E v/9 201m yry 23'3E .% 2315E r% ≤: % of 7315 • g 730'7.7314 show^ gebet ,s Area* wi rare 2014 %A, re EPS oveAri • g IND65151L4L5 1451 532 /11 939 /53 511 13a 3G7 ?42 51e3 . . 1215 H 1160 149 117 0 /73. 1112 41 C N) ArcsNice .5 Cet-se 13997 16.14 71.359 71.283 17.753 20.532 73.118 73.181 21449 29.332 11 29.413 03% 31.789 87% 29.300 r —, 31,000 ; /2 :; 9.: - 1435 = 0 A-Fre 2-t 5 log ces 4.974 5,54 5754 4771 3.452 4.752 5,746 5.984 5932 6,361 6% 7.413 165% 9.733 714% 7.300 14 3% 7.800 .C 70 1. 52: 190% tvires 3.9131 3.9431 1.454 l'uo 32561 2.591 1.563 2.433 5.724 10010 35% 1751 707% 14835 -134% 17000 ze% 15000 • 62:i 15,3X 93% /3.r36g Ilver_cte 916 8132 659 139 25 56 7 117 474 599 16% 684 143% 846 234% 700 119% 750 7.1% 700 132% Ornerca Sevres 65.90 es 5.897 5.114 3296 3593 3277 3,612 3.653 146 3645 1839 5% 4013 45% 4,283 69% 4.000 42% 4200 5.0% 4.0:8 IX% Cce314.%10% & E-g •eer '9 414 545 844 1,242 1.176 1937 1,352 13% 1.393 1.525 10% 1,296 .150% 1194 76% 1,3120 747% 1,300 0.0% 1.24 95% Eleetral 64°.-44:-t 3275 3,631 4.029 4111 21137 3.935 494 5251 5821 6.174 6% 5.723 .7 3% 5.757 06% 5.500 745% 5,500 0.0% 5.225 95% 1,039241 Erg erwates 71,237 74.932 27.231 22233 15.318 17.891 20,687 22.656 21844 24.285 2% 21179 774% 74.357 745% 21000 775% 21100 5.7% 21,40 130% ViChtley 10.111 1140 12.641 12.333 6.747 11.764 17.511 18.886 11713 17.199 3% 15.360 /07% 14.752 49% 15000 428% 14400 4.2% 14,24 95% Prellessanal Srvgees 713 797 982 857 13 43 1324 1.557 1.744 246 15% 2.160 77% 2.410 176% 2.190 .1 7% 2.300 9.5% 2.100 IX% Eked & 41 3.215 4.616 5.016 1063 4,215 6264 7.54 8.283 9.002 10.146 13% 9834 -31% 10.675 85% DOD '34% 10.500 62% 9.507 133% 'weep Canoe.. & 04 WWI 663 793 938 928 495 728 1.130 1,477 1,630 1.953 164 7.688 63% 2.171 40% 1.000 42% 2.040 5.3% 1.43, 1:76, is:C:4932 05 7977.:1-121,307Y 5.-r 925 976 1714 171 1221 1055 175 i '95- 7 '93 ' 2398 • . 224 1 243 3 • 2250 . • 2390 r - :' . 225 0 130% ConrnrceliorsEcr-ton:re 11.150 13.479 13,713 11448 12.992 15.777 17,033 18.54 21.367 21.413 0% 21,374 .02% 77,326 71% 21,000 99% 22.503 42% 71.611 13:,: - atrroggykerdwe.Stogege 5 Proera/s 17.783 26.762 33.703 38393 21.589 34,003 47.529 57.556 53,931 56701 9% 71219 796% 75,362 73% 70.044 206% 76,000 5.9% 73.920 IX% ElutroicEoegerwt.99-0-9-Is&Ccengo% 1.454 1951 3116 3838 3.000 4.828 4.533 3.754 3797 4.304 :4% 4,179 .29% 4510 79% 4.100 47% 4,400 7.3% 4101 133% Interns Saute & Se'vees 3.551 5.167 7.128 9466 9.197 11.49 13,955 16.193 19564 74,338 27.% 25112 33% 79.979 794% 71500 49% 29.600 122% 75.40 130% Cr Erroes 14.276 11461 19,598 21.43 23.275 27269 33254 31.271 35794 36.653 2% 38022 37% 41.1413 RI% 39000 37% 40,330 61% 39020 133% -16%03-0.4%es 5, 94-140-6,4tx E•....66•47E 15.276 13.172 14879 9.932 9163 23,42 21537 19.351 23.165 27.382 36% 27.838 1.7% 29,24 57% 27.500 7 It. 28,500 ..?6c 17.44 133% Seftwre 19.9* 21195 218)3 26316 27,394 33,41 37,94 4.550 39190 36982 r/ 37.325 09% 41.326 99% 37,500 140 39,744 7 2' 37.520 133% NAT ER1ALS 3971 174 V 2 248 21 2 '32 249 3' 7 292 77.5 327 ' 3'8 . 342 30.3 -7 3% 32.5 730 314 7.74%ea s 11,023 12,14 13213 11.173 9415 15414 20,512 20,796 22.693 24473 819 24,522 02% 71257 75% 24,500 71% 25100 41% 24500 1X% CCreftraC101MtAt'iNS 526 741 716 363 132 33 6761 46 128 333 MO% 532 598% 854 673% 530 577% 000 200% 5:4 133% Carta nrs & P/“.ag.ng 1.070 1,331 1.516 1.559 1,329 1439 1.297 1.795 1,444 2.193 57% 2,151 .19% 2313 /0% 2.200 "13% 2370 45% 2.700 130% Vela's & II - , g 4.234 6,286 8.338 114 2,995 7.168 8.543 5,859 4,819 4.469 -71 1.857 .584% 3.41 544% 1,600 er -.2 r 2130 533% 2.625 175% Pax' S. Forest 905,3s 516 633 953 943 371 878 1.331 1.155 141 1,290 -61 1.564 274% 1.655 7% 1,600 2... 3, 1,000 0.0% 1.132 132% I Etecom MUNICAPON SEN10ES (171111 139 190 264 270 218 232 224 139 25.1 307 ii. 337 349 33.5 91% 32.5 ,)0'.7 335 i :Cc.; LITILIDES ($bn) 214 234 25.9 289 266 282 796 298 30.4 331 i'r 331 . 344 . 33.6 37% 34.6 77% 33.6 122% Eta.% Ur tee 17.373 13.646 15334 15251 14.857 16.447 11.513 17584 15832 11.661 5% 19165 10% 20.412 26% 20,000 :..17 20.60 25% 1C..30: 132% UsUlets 194 213 ill 241 223 738 236 793 324 563 951 46 .367% 3% 25% 350 478% 375 77% 40 135% -we Deldert Pox/. el/ Pe-gems E egg e% 772 1.393 1.253 1.959 1.673 1.178 1.133 985 555 1.095 95% 979 .96% 1.333 56% 1,000 4% 1,103 200% 1.40 IX% 57.3-1.5 Les 9.357 8.44 9.175 9449 9.938 10.358 13.635 10.544 13/41 11,879 :1% 11.48 08% 12.615 54% 12.100 29% 12,604 3.3% 12.100 IX% Souse Deardweant. Ins 2007 • 2074 Wan bit/own myopia. nee *own 2014pinielligointh 0) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119276 CONFIDENTIAL SDNY_GM_00265460 EFTA01459063