The Group cash flow statement has been drawn up in accordance with IAS 7 “Cash Flow (Glossary) Statements.”
Cash and cash equivalents include not only cash amounting to €16,039k (2006/2007: €24,469k) but also bank liabilities repayable at any time amounting to €18,576k (2006/2007: €35,203k), as these could be considered in the management of cash.
The decrease (2006/2007: increase) in working capital (Glossary) is a result of the following changes:
|
|
€k |
|
Sept. 30, 2008 |
Sept. 30, 2007 |
Decrease in inventories |
17,147 |
18,447 |
Decrease in advances received on orders |
–5,330 |
–22,154 |
Increase in trade receivables |
–40,212 |
–53,976 |
Increase in trade payables |
31,115 |
20,590 |
Increase/decrease in deferred income |
297 |
–2,702 |
Increase in working capital |
3,017 |
–39,795 |
Overall, the EBITDA (Glossary) of €260,020k (2006/2007: €233,026k), as well as – with an opposite impact – the interest paid of €12,955k (2006/2007: €9,355k) and income taxes paid of €56,189k (2006/2007: €37,207k) resulted in cash flow from operating activities of €196,209k (2006/2007: €180,356k).
Lease payments from customers for Wincor Nixdorf products and lease payments from Wincor Nixdorf for operating lease assets are presented in cash flow from operating activities. Lease payments for assets, which classify as a finance lease and are capitalized, are recorded in cash flow from financing activities.
