Aurubis - Financial Situation and Capital Expenditure

Financial Situation and Capital Expenditure

Fiscal year 2010/11

The good business performance had a positive effect on the IFRS gross cash flow, which at € 792 million was € 280 million up on the prior-year value (€ 512 million in the prior year). Cash outflow from the change in working capital amounted to € 374 million, about € 53 million below the comparable prior-year value. Overall, net cash flow in the reporting period amounted to € 418 million, which was € 333 million above the prior-year value.

Investments (including financial fixed assets and prior to the acquisition of Luvata RPD) amounted to € 116 million (€ 151 million in the prior year) in the reporting period and primarily consisted of investments in property, plant and equipment. The largest investments were allotted to the expansion of complex secondary material processing (KRS-Plus) at the Lünen site, which went into operation in the past fiscal year, the expansion of concentrate processing at the Hamburg site (Future RWO) and the expansion of anode slime processing at the Hamburg site.

A free cash flow of € 302 million results after deducting investments in fixed assets from the net cash flow, which is € 368 million above the prior year. Net payments amounting to € 159 million were made in the current fiscal year for the acquisition of interests in affiliated companies of Luvata’s Rolled Products Division. Taking interest payments and received dividends into account, there is a cash outflow of € 257 million from investing activities.

Read more about this topic:  Aurubis

Famous quotes containing the words financial situation, expenditure, capital, financial and/or situation:

    A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.
    Lionel Trilling (1905–1975)

    Compare society to a boat. Her progress through the water will not depend upon the exertion of her crew, but upon the exertion devoted to propelling her. This will be lessened by any expenditure of force in fighting among themselves, or in pulling in different directions.
    Henry George (1839–1897)

    As our boys and men are all expecting to be Presidents, so our girls and women must all hold themselves in readiness to preside in the White House; and in no city in the world can honest industry be more at a discount than in this capital of the government of the people.
    Jane Grey Swisshelm (1815–1884)

    What people don’t realize is that intimacy has its conventions as well as ordinary social intercourse. There are three cardinal rules—don’t take somebody else’s boyfriend unless you’ve been specifically invited to do so, don’t take a drink without being asked, and keep a scrupulous accounting in financial matters.
    —W.H. (Wystan Hugh)

    [T]he judicious reader ought to know what the chief character in any work of the imagination will naturally perform, according to the situation he is thrown into, as well as doth the author himself.
    Sarah Fielding (1710–1768)