Embed Size (px)
Citation preview
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 1/168
http://www.rbauction.com/about_ritchie_bros/investor_info.jsp
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 2/168
31-Dec-09 31-Dec-08 31-Dec-07 31-Dec-06
Ritchie Bros N-RBA 2009 2008 2007 2006
Stock Price $22.43 $21.42 $27.56 $17.93
Balance Sheet
AssetsCash 122.60 107.28 150.32 172.02
Acct Rec 55.79 63.33 74.30 41.37
Inventory 6.64 9.71 6.03 5.61
Other 13.68 13.62 6.54 9.06
Total CA 198.71 193.94 237.19 228.06
PP&E: Gross 712.67 540.81 467.00 342.84
Acc Dep (114.72) (87.17) (76.96) (57.75)
Net 597.95 453.64 390.04 285.09
Investments 7.85 0.00 0.00 0.00Other 7.72 1.67 3.05 1.53
Intangibles 45.59 40.23 42.61 39.54
Total Assets 857.82 689.48 672.89 554.22
Errors ??? 0.00 0.01 0.00 0.01
LiabilitiesAcct Payable 163.13 146.83 178.74 132.61
Bank Debt 5.07 0.00 0.00 0.00
Current % LTD 0.00 0.00 0.24 0.24
Other 0.00 0.00 0.00 0.85
Total CL 168.20 146.83 178.98 133.70
Dfd Revenue 0.00 0.00 0.00 0.00
Other 14.82 10.08 13.95 8.81
LTD 130.39 67.41 44.84 43.08
Preferred Shares 0.00 0.00 0.00 0.00
Minority Interest 0.00 0.00 0.00 0.00
Total Liabilities 313.41 224.32 237.77 185.59
Equity
Common Stock 116.13 108.73 102.69 96.37
Retained Earnings 411.33 357.84 292.05 247.35
Acc Comprehensive Income 16.95 (1.41) 40.38 24.92Total Equity 544.41 465.16 435.12 368.64
Errors ??? 0.00 0.00 0.00 0.01
Income Statement
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 3/168
Sales 377.21 354.82 311.91 261.04
Cost of Sales (49.89) (49.75) (46.48) (36.98)
Gross Margin $ 327.32 305.07 265.43 224.06
% of Sales 87% 86% 85% 86%
Operating Expenses (168.31) (164.56) (144.82) (118.16)Amortization (insert)
Depreciation (31.76) (24.76) (19.42) (15.02)
Operating Income 127.25 115.75 101.19 90.88
% of Sales 34% 33% 32% 35%
Interest Expense (0.54) (0.86) (1.21) (1.17)
Interest Income (insert) 2.40 4.99 7.39
Other : FX (1.08) 11.66 2.80 0.00
Unusual 0.00 0.00 0.00 0.00
Sale Assets 0.65 6.37 0.24 1.28
Equity in Affiliates 0.00 0.00 0.00 0.00Other 2.86 1.38 1.47 1.08
Total 2.43 19.41 4.51 2.36
Earnings Before Tax 131.54 139.29 111.88 92.07
Tax Expense (38.07) (37.88) (35.91) (34.85)
% of taxable income 29% 27% 32% 38%
Minority Interest 0.00 0.00 0.00 0.00
Discontinued Operations 0.00 0.00 0.00 0.00
Extra Ordinary Items 0.00 0.00 0.00 0.00
Net Income 93.47 101.41 75.97 57.22
less Pref Share Dividends $ 0.00 0.00 0.00 0.00Net Income to Common Shares 93.47 101.41 75.97 57.22
% of Sales 25% 29% 24% 22%
Errors ??? (0.25) (0.01) 0.01 0.00
Change in Comprehensive Income 18.36 (41.78) 15.46 5.59
Comprehensive Net Income 111.83 59.63 91.43 62.81
Retained Earnings Reconsiliation
Beg of yr 357.84 292.05 247.35 217.08
Net Income to Common Shares 93.47 101.41 75.97 57.22
Dividends $, common sh (39.97) (35.60) (31.29) (26.95)
Share transactions 0.00 0.00 0.00 0.00
End of yr 411.34 357.86 292.03 247.35
Errors ??? (0.01) (0.02) 0.02 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 4/168
Equity Reconsiliation
Beg of yr 465.16 435.12 368.64 325.18
Comprehensive Income 111.83 59.63 91.43 62.81
Dividends $, common sh (39.97) (35.60) (31.29) (26.95)
Share transactions 7.40 6.03 6.32 7.60
End of yr 544.42 465.18 435.10 368.64
Errors ??? 0.01 0.02 (0.02) 0.00
Cash Flow
Net Income 93.47 101.41 75.97 57.22
reverse out Depreciation 31.76 24.76 19.42 15.02
reverse out Amortization 0.00 0.00 0.00 0.00Working Capital change 26.85 (31.70) 14.45 (7.50)
Total 152.08 94.47 109.84 64.74
Debt LTD 130.39 67.41 44.84 43.08
Current portion 0.00 0.00 0.24 0.24
Bank debt 5.07 0.00 0.00 0.00
Preferred Shares 0.00 0.00 0.00 0.00
Total debt 135.46 67.41 45.08 43.32
Where Deploy Capital ?
from: Comp Net Income 111.83 59.63 91.43 62.81
New Equity Shares 7.40 6.03 6.32 7.60
New Debt 68.05 22.33 1.76 (0.22)
Minority Interest 0.00 0.00 0.00 0.00
Total 187.28 87.99 99.51 70.19
to: Dividends to Commons (39.97) (35.60) (31.29) (26.95)
Working Capital 26.85 (31.70) 14.45 (7.50)Fixed Assets (144.31) (63.60) (104.95) (34.45)
Intangibles (5.36) 2.38 (3.07) (1.14)
Investments (7.85) 0.00 0.00 0.00
Net Other Long Term (1.31) (2.49) 3.62 2.64
Total (171.95) (131.01) (121.24) (67.40)
equals: Increase in Cash 15.32 (43.04) (21.70) 2.77
Errors ??? 0.01 0.02 (0.03) 0.02
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 5/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 6/168
Book value per share 5.17 4.43 4.17 3.54
w/o Intangibles 4.73 4.05 3.76 3.16
Book value Reconsiliation
Begining of year 4.43 4.17 3.54 3.15
Net Income 0.89 0.97 0.73 0.55
Other Comp. Income 0.17 -0.40 0.15 0.06Options Compensation (0.03) 0.00 (0.03) (0.02)
Dividends (0.38) (0.50) (0.30) (0.28)
New sh issue premium 0.08 0.20 0.07 0.09
End of year. 5.17 4.43 4.17 3.54
Cost of Options Compensation
Inc in # shares 0.49 0.45 0.42 0.75
* Avg P/bk in year 4.59 5.72 5.84 4.80
* Avg Bk value in year 4.80 4.30 3.86 3.35
= Calc $ s/b rec'd 10.79 11.08 9.45 12.04
Book value of new sh 2.35 1.94 1.62 2.51= Premium s/b shared 0.08 0.09 0.07 0.09
Premium fm reconsile 0.05 0.20 0.05 0.07
Cost of Options Comp (0.03) 0.00 (0.03) (0.02)
Cost as % Comp EPS -3% 0% -3% -4%
Valuation Metrics
Price / Earnings (dil) 25.5 22.3 38.3 32.6
Price / Bk Value 4.3 4.8 6.6 5.1
Price / Cash Flow 15.5 23.7 26.5 28.8
Dividend Yield @ boy 2% 2% 2% 2%
Price / Sales (per sh) 6 6 9 7
ROE NI as % Equity boy 20% 23% 21% 18%
Growth in Bk + Div 25% 18% 26% 21%
18% 21% 19% 16%
0% 1% 2% 2%
Debt / Equity 0.2 0.1 0.1 0.1
Debt / Tangible Equity 0.3 0.2 0.1 0.1
Interest Coverage (times) 236 135 84 78
Days of Sales in Acct Rec 54 65 87 58
Return on Assets (after tax)
Interest on Debt (after tax)
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 7/168
# Shares Avg in period 105.14 104.72 104.27 103.64
Diluted, calc, in period 106.22 105.64 105.51 104.04
at Year End 105.38 104.89 104.44 104.02
growth in # shares 0% 0% 0% 1%
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 8/168
31-Dec-05 31-Dec-04 31-Dec-03 31-Dec-02 31-Dec-01 30-Dec-99 30-Dec-99
2005 2004 2003 2002 2001 0 0
$14.29 $11.02 $8.68 $5.39 $4.15
169.25 132.63 119.01 62.22 49.53 0.00 0.00
21.20 20.25 17.17 13.70 12.38 0.00 0.00
9.99 13.09 9.58 7.40 3.03 0.00 0.00
4.52 5.33 15.91 4.54 2.74 0.00 0.00
204.96 171.30 161.67 87.86 67.68 0.00 0.00
306.49 274.75 248.28 219.55 190.98 0.00 0.00
(55.85) (48.13) (37.86) (26.06) (20.06) 0.00 0.00
250.64 226.62 210.42 193.49 170.92 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.002.40 7.68 5.64 13.42 8.49 0.00 0.00
38.40 37.50 35.63 34.36 28.47 0.00 0.00
496.40 443.10 413.36 329.13 275.56 0.00 0.00
0.00 0.00 0.00 0.01 (0.02) 0.00 0.00
120.17 99.30 82.53 50.90 35.08 0.00 0.00
0.00 0.00 0.00 2.76 5.31 0.00 0.00
0.22 35.13 43.44 8.76 8.00 0.00 0.00
0.46 0.00 0.00 0.00 0.00 0.00 0.00
120.85 134.43 125.97 62.42 48.39 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
7.04 8.61 7.26 4.72 0.00 0.00 0.00
43.32 10.79 27.35 62.61 61.22 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
171.21 153.83 160.58 129.75 109.61 0.00 0.00
88.77 84.30 78.87 73.83 73.46 0.00 0.00
217.08 183.44 161.18 129.68 101.31 0.00 0.00
19.33 21.52 12.73 (4.14) (8.84) 0.00 0.00325.18 289.26 252.77 199.37 165.93 0.00 0.00
(0.01) (0.01) (0.01) (0.01) (0.02) 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 9/168
212.63 182.26 161.54 133.55 116.99 0.00 0.00
(27.04) (23.47) (22.10) (19.68) (18.86) 0.00 0.00
185.59 158.79 139.44 113.87 98.13 0.00 0.00
87% 87% 86% 85% 84% #DIV/0! #DIV/0!
(94.67) (85.67) (71.26) (63.79) (56.52) 0.00 0.00
(13.17) (12.71) (11.77) (9.21) (9.08) 0.00 0.00
77.75 60.41 56.41 40.87 32.53 0.00 0.00
37% 33% 35% 31% 28% #DIV/0! #DIV/0!
(2.22) (3.22) (4.77) (4.30) (4.02) 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
6.56 0.23 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.42 0.82 1.06 2.46 1.41 0.00 0.00
6.98 1.05 1.06 2.46 1.41 0.00 0.00
82.51 58.24 52.70 39.03 29.92 0.00 0.00
(28.93) (23.35) (16.10) (10.66) (9.87) 0.00 0.00
35% 40% 31% 27% 33% #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
53.58 34.89 36.60 28.37 20.05 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.0053.58 34.89 36.60 28.37 20.05 0.00 0.00
25% 19% 23% 21% 17% #DIV/0! #DIV/0!
0.00 0.01 (0.01) 0.00 0.00 0.00 0.00
(2.19) 8.80 16.87 4.70 (8.84) 0.00 0.00
51.39 43.69 53.47 33.07 11.21 0.00 0.00
183.44 161.18 129.68 101.31 0.00 0.00 0.00
53.58 34.89 36.60 28.37 20.05 0.00 0.00
(19.94) (12.64) (5.09) 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
217.08 183.43 161.19 129.68 20.05 0.00 0.00
0.00 0.01 (0.01) 0.00 81.26 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 10/168
289.26 252.77 199.37 165.93 0.00 0.00 0.00
51.39 43.69 53.47 33.07 11.21 0.00 0.00
(19.94) (12.64) (5.09) 0.00 0.00 0.00 0.00
4.47 5.43 5.03 0.37 73.46 0.00 0.00
325.18 289.25 252.78 199.37 84.67 0.00 0.00
0.00 (0.01) 0.01 0.00 (81.26) 0.00 0.00
53.58 34.89 36.60 28.37 20.05 0.00 0.00
13.17 12.71 11.77 9.21 9.08 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.0024.29 20.76 14.61 8.33 16.93 0.00 0.00
91.04 68.36 62.98 45.91 46.06 0.00 0.00
43.32 10.79 27.35 62.61 61.22 0.00 0.00
0.22 35.13 43.44 8.76 8.00 0.00 0.00
0.00 0.00 0.00 2.76 5.31 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
43.54 45.92 70.79 74.13 74.53 0.00 0.00
51.39 43.69 53.47 33.07 11.21 0.00 0.00
4.47 5.43 5.03 0.37 73.46 0.00 0.00
(2.38) (24.87) (3.34) (0.40) 74.53 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
53.48 24.25 55.16 33.04 159.20 0.00 0.00
(19.94) (12.64) (5.09) 0.00 0.00 0.00 0.00
24.29 20.76 14.61 8.33 16.93 0.00 0.00(24.02) (16.20) (16.93) (22.57) (170.92) 0.00 0.00
(0.90) (1.87) (1.27) (5.89) (28.47) 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.71 (0.69) 10.32 (0.21) (8.49) 0.00 0.00
(16.86) (10.64) 1.64 (20.34) (190.95) 0.00 0.00
36.62 13.62 56.79 12.69 49.53 0.00 0.00
0.00 (0.01) 0.01 0.01 (81.28) 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 11/168
17% 13% 21% 14% #DIV/0! #DIV/0! #DIV/0!
29% 7% 38% 26% #DIV/0! #DIV/0! #DIV/0!
54% -5% 29% 41% #DIV/0! #DIV/0! #DIV/0!
50% -6% 29% 40% #DIV/0! #DIV/0! #DIV/0!
15% -19% 61% 192% #DIV/0! #DIV/0! #DIV/0!27% 200% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
12% 13% 25% 20% #DIV/0! #DIV/0! #DIV/0!
12% 14% 27% 20% #DIV/0! #DIV/0! #DIV/0!
11% 8% 9% 13% #DIV/0! #DIV/0! #DIV/0!
2% 5% 4% 21% #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.13 0.06 0.08 0.05 0.03
0.21 0.15 0.13 0.11 0.06
0.04 0.02 0.03 0.01 -0.01
0.14 0.11 0.12 0.11 0.120.52 0.34 0.36 0.28 0.20 0 0
0.52 0.34 0.36 0.28 0.20 0.00 0.00
0.50 0.43 0.53 0.33 0.11 #DIV/0! #DIV/0!
0.51 0.34 0.36 0.28 0.20 0.00 0.00
0.49 0.43 0.53 0.33 0.11 #DIV/0! #DIV/0!
0.87 0.67 0.62 0.45 0.46 #DIV/0! #DIV/0!
0.19 0.15 0.05 0.00 0.00 0.00 0.00
(0.00) 0.03 (0.00) 0.00 0.00 #DIV/0! #DIV/0!
37% 44% 14% 0% 0% #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 12/168
3.15 2.81 2.48 1.98 1.65 #DIV/0! #DIV/0!
2.78 2.45 2.13 1.64 1.37 #DIV/0! #DIV/0!
2.81 2.48 1.98 1.65 #DIV/0! #DIV/0! #DIV/0!
0.52 0.34 0.36 0.28 0.20 0.00 0.00
-0.02 0.09 0.17 0.05 -0.09 #DIV/0! #DIV/0!(0.02) (0.00) (0.02) (0.01) #DIV/0! #DIV/0! #DIV/0!
(0.19) (0.15) (0.05) 0.00 0.00 0.00 0.00
0.04 0.06 0.05 0.01 #DIV/0! #DIV/0! #DIV/0!
3.15 2.81 2.48 1.98 1.65 #DIV/0! #DIV/0!
0.48 0.89 1.04 0.26 100.60 0.00 0.00
4.23 3.71 3.11 2.62 #DIV/0! #DIV/0! #DIV/0!
2.98 2.65 2.23 1.81 #DIV/0! #DIV/0! #DIV/0!
6.05 8.73 7.21 1.24 #DIV/0! #DIV/0! #DIV/0!
1.43 2.36 2.32 0.47 #DIV/0! #DIV/0! #DIV/0!0.04 0.06 0.05 0.01 #DIV/0! #DIV/0! #DIV/0!
0.03 0.06 0.03 (0.00) #DIV/0! #DIV/0! #DIV/0!
(0.02) (0.00) (0.02) (0.01) #DIV/0! #DIV/0! #DIV/0!
-4% -1% -4% -3% #DIV/0! #DIV/0! #DIV/0!
28.0 32.4 24.1 19.3 20.7 #DIV/0! #DIV/0!
4.5 3.9 3.5 2.7 2.5 #DIV/0! #DIV/0!
16.5 16.5 14.0 11.9 9.0 #DIV/0! #DIV/0!
2% 2% 1% 0% #DIV/0! #DIV/0! #DIV/0!
7 6 5 4 4 #DIV/0! #DIV/0!
19% 14% 18% 17% #DIV/0! #DIV/0! #DIV/0!
19% 19% 28% 20% #DIV/0! #DIV/0! #DIV/0!
16% 11% 15% 13% #DIV/0! #DIV/0! #DIV/0!
3% 3% 5% 4% 7% #DIV/0! #DIV/0!
0.1 0.2 0.3 0.4 0.4 #DIV/0! #DIV/0!
0.2 0.2 0.3 0.4 0.5 #DIV/0! #DIV/0!
35 19 12 10 8 #DIV/0! #DIV/0!
36 41 39 37 39 #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 13/168
103.10 102.48 101.39 100.76 100.57 0.00 0.00
105.06 102.62 101.67 101.32 100.25 #DIV/0! #DIV/0!
103.27 102.79 101.90 100.86 100.60 0.00 0.00
0% 1% 1% 0% #DIV/0! #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 14/168
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 15/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 16/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 17/168
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0 0 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 18/168
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 19/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.00 0.00 0.00 0.00 0.00 0.00 0.00
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 20/168
30-Dec-99
0
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.000.00
0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 21/168
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.000.00
0.00
0.00
0.00
#DIV/0!
0.00
0.00
0.00
0.00
0.000.00
#DIV/0!
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 22/168
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.000.00
0.00
0.00
0.00
0.00
0.00
0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 23/168
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
0
0.00
#DIV/0!
0.00
#DIV/0!
#DIV/0!
0.00
#DIV/0!
#DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 24/168
#DIV/0!
#DIV/0!
0.00
0.00
#DIV/0!#DIV/0!
0.00
#DIV/0!
#DIV/0!
0.00
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 25/168
0.00
#DIV/0!
0.00
#DIV/0!
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 26/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 27/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 28/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 29/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 30/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 31/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 32/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 33/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 34/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 35/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 36/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 37/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 38/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 39/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 40/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 41/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 42/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 43/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 44/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 45/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 46/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 47/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 48/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 49/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 50/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 51/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 52/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 53/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 54/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 55/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 56/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 57/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 58/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 59/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 60/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 61/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 62/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 63/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 64/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 65/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 66/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 67/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 68/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 69/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 70/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 71/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 72/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 73/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 74/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 75/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 76/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 77/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 78/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 79/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 80/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 81/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 82/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 83/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 84/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 85/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 86/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 87/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 88/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 89/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 90/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 91/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 92/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 93/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 94/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 95/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 96/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 97/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 98/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 99/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 100/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 101/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 102/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 103/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 104/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 105/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 106/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 107/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 108/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 109/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 110/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 111/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 112/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 113/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 114/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 115/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 116/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 117/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 118/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 119/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 120/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 121/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 122/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 123/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 124/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 125/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 126/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 127/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 128/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 129/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 130/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 131/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 132/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 133/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 134/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 135/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 136/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 137/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 138/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 139/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 140/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 141/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 142/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 143/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 144/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 145/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 146/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 147/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 148/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 149/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 150/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 151/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 152/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 153/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 154/168
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 155/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 156/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 157/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 158/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 159/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 160/168
0.00 0.00 0.00
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 161/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 162/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 163/168
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 164/168
377.21 354.82 311.91 261.04
49.89 49.75 46.48 36.98
327.32 305.07 265.42 224.06
0 0 0 0
168.31 164.56 144.82 118.16
168.31 164.56 144.82 118.16
159.01 469.62 410.24 342.23
0.54 0.86 1.21 1.17
31.76 24.76 19.42 15.02
-1.08 11.66 2.8 0
0 0 0 0
0.65 6.37 0.24 1.28
0 0 0 0
0 0 0 0
5.26 6.37 8.86 1.08
4.82 24.4 11.91 2.36
131.52 139.28 111.90 90.79
38.07 37.88 35.91 34.85
0 0 0 0
0 0 0 0
93.45 101.40 75.98 57.22
357.84 292.05 247.35 217.08
39.97 35.60 31.29 26.95
0 0 0 0
0 0 0.00 0.00
411.33 357.84 292.05 247.35
105.14 104.72 104.27 103.64
0.89 0.97 0.73 0.55
0.88 0.96 0.72 0.55
0.38 0.5 0.3 0.28
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 165/168
212.63 182.26 161.54 133.55 116.99
27.04 23.47 22.10 19.68 18.86
185.60 158.78 139.44 113.87 98.13
0 0 0 0 0
94.67 85.67 71.26 63.79 56.52
94.67 85.67 71.26 63.79 56.52
280.27 244.45 210.71 177.65 154.65
2.22 3.22 4.77 4.3 4.02
13.17 12.71 11.77 9.21 9.08
0 0 0 0 0
0 0 0 0 0
6.56 0.23 0 0 0
0 0 0 0 0
0 0 0 0 0
0.42 0.82 1.06 2.46 1.41
6.98 1.05 1.06 2.46 1.41
75.95 58.02 52.69 39.03 29.92
28.93 23.35 16.1 10.66 9.87
0 0.00 0 0 0
0 0 0 0 0
53.58 34.90 36.59 28.37 20.05
183.44 161.18 129.68 101.31 81.26
19.94 12.64 5.09 0 0
0 0 0 0 0
0.00 0 0 0 0
217.08 183.44 161.18 129.68 101.31
103.1 102.48 101.39 100.76 100.57
0.52 0.34 0.36 0.28 0.2
0.51 0.34 0.36 0.28 0.2
0.19 0.15 0.05
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 166/168
122.6 107.28 150.32 172.02
55.79 63.33 74.30 41.37
6.64 9.71 6.03 5.61
13.68 13.62 6.54 9.06
198.71 193.94 237.18 228.07
712.67 540.81 467.00 342.84
114.72 87.17 76.96 57.75
597.94 453.64 390.04 285.09
7.85 0.00 0.00 0
45.59 40.23 42.61 39.54
7.72 1.67 3.05 1.53
857.82 689.49 672.89 554.23
163.13 146.83 178.74 132.61
5.07 0 0 0
0 0 0.24 0.24
0 0 0 0.85
168.2 146.83 178.98 133.70
130.39 67.41 44.84 43.08
0 0 0 0
0 0 0 0
14.82 10.08 13.95 8.81
313.41 224.33 237.77 185.59
99.98 94.37 90.22 85.91
0 0 0 0
411.33 357.84 292.05 247.35
33.1 12.95 52.85 35.38
544.41 465.16 435.12 368.64
857.82 689.49 672.89 554.23
105.38 104.89 104.44 104.02
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 167/168
169.25 132.63 119.01 62.22 49.53
21.20 20.25 17.17 13.70 12.38
9.99 13.09 9.58 7.4 3.03
4.52 5.33 15.91 4.54 2.74
204.96 171.30 161.67 87.87 67.67
306.49 274.75 248.28 219.55 190.98
55.85 48.13 37.86 26.06 20.06
250.64 226.62 210.42 193.49 170.92
0 0 0 0 0
38.40 37.50 35.63 34.36 28.47
2.40 7.68 5.64 13.42 8.49
496.40 443.10 413.36 329.14 275.54
120.17 99.30 82.53 50.90 35.08
0 0 0 2.76 5.31
0.22 35.13 43.44 8.76 8
0.46 0 0 0.00 0
120.85 134.43 125.97 62.43 48.39
43.32 10.79 27.35 62.61 61.22
0 0 0 0 0
0 0 0 0 0
7.04 8.61 7.26 4.72 0.00
171.21 153.84 160.58 129.76 109.61
79.84 76.44 72.79 69.50 69.13
0 0 0 0 0
217.08 183.44 161.18 129.68 101.31
28.26 29.38 18.8 0.19 -4.51
325.18 289.26 252.78 199.37 165.93
496.40 443.10 413.36 329.14 275.54
103.27 102.79 101.9 100.86 100.6
8/9/2019 Ritchie Bros RBA
http://slidepdf.com/reader/full/ritchie-bros-rba 168/168
5
4
3
21
2008
31-Dec-08 2007
31-Dec-07 2006
31-Dec-06 2005
31-Dec-05 2004
31-Dec-04 2003
31-Dec-03 2002
31-Dec-02 2001
31-Dec-01
