From an operating point of view, the management of the Group’s liquidity exposures is centralized by a cash pooling process. This process enables the Group to manage the liquidity surplus and liquidity requirements according to the actual needs of the Group and each subsidiary. The Group’s short-term and midterm liquidity management takes into account the maturities of financial assets and financial liabilities, and estimates of cash flows from the operating activities. Liquidity needs are covered with cash and cash equivalents totaling €16,274k (2007/2008: €16,039k). Above and beyond this, Wincor Nixdorf had unused credit lines amounting to €237,289k (2007/2008: €195,000k) at the balance sheet date. Accordingly, liquidity risk can be classified as low in total.
The financial liabilities are expected to result in the following (undiscounted) payments in the next years:
|
|
|
|
€k |
|
Gross value Sept. 30, 2009 |
Cash flows 2009/2010 |
Cash flows 2010/2011–2013/2014 |
Cash flows from 2014/2015 |
Trade payables |
256,862 |
256,862 |
0 |
0 |
Liabilities to related companies |
438 |
438 |
0 |
0 |
Financial liabilities |
177,846 |
15,502 |
162,344 |
0 |
thereof: liabilities from finance leases |
4,482 |
1,427 |
3,055 |
0 |
Other non-interest-bearing liabilities |
60,237 |
55,236 |
4,959 |
42 |
thereof: derivates with a hedging relationship |
3,140 |
413 |
2,727 |
0 |
thereof: derivates without a hedging relationship |
959 |
0 |
959 |
0 |
Total |
495,383 |
328,038 |
167,303 |
42 |
|
|
|
|
€k |
|
Gross value Sept. 30, 2008 |
Cash flows 2008/2009 |
Cash flows 2009/2010–2012/2013 |
Cash flows from 2013/2014 |
Trade payables |
270,577 |
270,569 |
8 |
0 |
Liabilities to related companies |
132 |
132 |
0 |
0 |
Financial liabilities |
245,104 |
33,431 |
211,451 |
222 |
thereof: liabilities from finance leases |
4,490 |
1,388 |
2,880 |
222 |
Other non-interest-bearing liabilities |
84,626 |
84,142 |
481 |
3 |
thereof: derivates with a hedging relationship |
7,046 |
7,046 |
0 |
0 |
thereof: derivates without a hedging relationship |
19 |
0 |
19 |
0 |
Total |
600,439 |
388,274 |
211,940 |
225 |
