The Group cash flow (Glossary) statement has been drawn up in accordance with IAS 7 “Cash Flow Statements”.
Cash and cash equivalents include not only cash amounting to €24,469k (2005/2006: €9,536k) and marketable securities amounting to €0k (2005/2006: €68k), but also bank liabilities repayable at any time amounting to €35,203k (2005/2006: €15,586k), as these could be considered in the management of cash.
The increase in working capital (Glossary) is a result of the following changes:
|
|
|
€k |
|
|
Sept.30, 2007 |
Sept. 30, 2006 |
|
Reduction/increase in inventories |
18,447 |
–88,888 |
|
Reduction/increase in advances received on orders |
–22,154 |
49,796 |
|
Increase in trade receivables |
–53,976 |
–51,536 |
|
Increase in trade payables |
20,590 |
18,325 |
|
Reduction/increase in deferred income |
–2,702 |
17,819 |
|
Increase in working capital |
–39,795 |
–54,484 |
Overall, the EBITDA (Glossary) of €233,026k (2005/2006: €202,995k), the increase in accruals of €25,583k (2005/2006: €45,550k) as well as – with an opposite impact – the increase in working capital to €39,795k (2005/2006: €54,484k) essentially resulted in cash flow from operating activities of €180,356k (2005/2006: €154,646k).
Lease payments from customers for Wincor Nixdorf products and lease payments from Wincor Nixdorf for operating lease assets are presented in
cash flow (Glossary) from operating activities. Lease payments for assets which classify as a finance lease and are capitalized, are recorded in cash flow from financing activities.
