• Analyze the information the annual report using the analysis of financial ratios, trend analysis and other tools that exist for the analysis and interpretation of financial statements.
• You will need to identify what factors cause the price of these stocks to fluctuate during this time period in light of the information you have been collecting. You should apply efficient market theory and other information you have available to interpret this data.
• You should also include a graph where you present the movement of the value of each share for the period. It will indicate in it those points where the change is more drastic and that happened that day that could cause that change.

FINANCIAL HIGHLIGHTS 2022 (IFRS) FINANCIAL HIGHLIGHTS 2022 (IPRS) 2032 2021 Change Operating Highlights [C in millions] Net sales 22,51 1 21 234 Gross profit 10,644 10,745 Other operating expenses 10,260 8,892 15%% EBITOA 1,874 3,046 Operating profit 669 1,984 Net income from continuing operations' 254 1,492 183%%) Net income attributable to shareholders $12 2,116 171% Key Ratios Gross margin 47.3% 50.7%% 3.4ppl Other operating expenses in % of net sales 15.4% 41.9%% 3.7pp Operating margin' 3.0% 6.4ppl Effective tax rate! 34.5% 19.4% 15.0pp Net income attributable to shareholders in % of net sales 2.79% 10.0% 7.2ppl Average operating working capital in % of net sales 24.09% 20.0% 4.0pp quity ratio 24.69% 14.0% Adjusted net borrowings/BBITDAI 19.4ppl 3.2 0.7 In.a. Financial leverage 121.2% 27.7% 93.5pp Return on equity? 12.3% 28.1% 15.9ppl Balance Sheet and Cash Flow Data | C in millions Total assets 20,294 22,137 Inventories 5,973 4 009 49% ecervables and other current assets 4,961 4 072 22% Operating working capital 6,594 2,890 44%% Shareholders' equity 5,991 7.519 Capital expenditure $95 647 4% Net cash lused inl/generated from operating activities 4581 2,873 In.a. Per Share of Common Stock IC] Basic earnings 1.25 7.47 Diluted earnings 1.25 7.47 Net cash lused in /generated from operating activities (2.50] 14.79 Dividend n.a. 0.70 3.30 179%) Share price at year-end 127.46 253.20 150%%) Other lat year-end Number of employees 59,250 61,401 Number of shares outstanding 170, 537.198 191,594,855 Average number of shares 103, 243,629 194,172,984 12032 and 2021 figures reflect continuing operations as a result of the maclassification of the Ranback business to discontinued aparations. 2 Based on shareholder equity. 3 Subject to Annual Boneral Meating approval