The uncertainties surrounding our business performance in fiscal 2011/2012 could also impact on our asset position and financial situation. Given this uncertain environment, we therefore intend to focus on those factors that have particularly helped Wincor Nixdorf to stand out in the past.
As well as a strong balance sheet, we have a stable equity ratio of over 25% and a relatively low level of net debt (Glossary) . In this context, we have already shown in the past that our financial strategy is anchored to fundamental principles. That includes our determination to achieve a strong cash flow (Glossary) .
We are currently (late fall 2011) in negotiations with the relevant partners over our future borrowing requirements.
Our dividend proposal for 2011/2012 will continue to be based on the policy we adopted as our maxim on flotation in 2004. According to this policy, around 50% of the profit generated in a fiscal year should be distributed as a dividend. We see this emphasis on continuity as a key element of an overall corporate policy that stresses the importance of reliability.