Financial situation
Financial situation
| (€ 000) | 31.12.2012 | 31.12.2011 |
| Current loans and borrowings | 18,188 | 14,535 |
| Non-current loans and borrowings | - | 269 |
| Cash and cash equivalents | (146,837) | (160,928) |
| BANK LOANS AND BORROWINGS | (128,649) | (146,124) |
| Related par ty loan assets | (120,533) | (2,531) |
| Other loan assets | (52,987) | (110,812) |
| Current financial assets at fair value through profit or loss | - | (30,756) |
| LOAN ASSETS | (173,520) | (144,099) |
| Related par ty loans and borrowings Other current loans and borrowings | - 187 | - 380 |
| Other non-current loans and borrowings | - | 169 |
| OTHER LOANS AND BORROWINGS | 187 | 549 |
| NET FINANCIAL POSITION | (301,982) | (289,674) |
The Group’s net financial position (loan assets and cash and cash equivalents greater than loans and borrowings) was €301,982 thousand, compared to €289,674 thousand at 31 December 2011 (up €12,308 thousand), after the €28,000 thousand dividend payment (€33,592 thousand in 2011). It includes the €70,643 thousand advance received from the Russian customer, Zarubezhstroytechnology (“ZST”), for the project for the development of signalling, automation, telecommunication, power supply, security and ticketing systems on the Sirth to Benghazi section in Libya.
Working capital 2012 by Business Unit
| 2012 (€’000) | Signalling | Transportation Solutions | Other activities | Eliminations | Total |
| Inventories | 112,250 | 45,740 | 525 | (26,931) | 131,584 |
| Net contract work in progress | (210,720) | (213,834) | - | 26,930 | (397,624) |
| Trade receivables | 408,054 | 397,877 | 5,865 | (63,049) | 748,747 |
| Trade payables | (195,121) | (355,042) | (13,449) | 63,049 | (500,563) |
| Provisions for risks and charges | (10,758) | (3,847) | (1,237) | - | (15,842) |
| Operating working capital | 103,705 | (129,106) | (8,296) | (1) | (33,698) |
| Other liabilities, net | - | - | (14,449) | - | (14,449) |
| Net working capital | 103,705 | (129,106) | (22,745) | (1) | (48,147) |
| 31.12.2011 (€’000) | Signalling | Transpor tation Solutions | Other activities | Eliminations | Total |
| Inventories | 117,730 | 37,491 | 576 | (25,861) | 129,936 |
| Net contract work in progress | (177,964) | (271,331) | - | 25,862 | (423,433) |
| Trade receivables | 360,091 | 371,725 | 6,962 | (58,709) | 680,069 |
| Trade payables | (170,426) | (306,426) | (13,711) | 58,712 | (431,851) |
| Provisions for risks and charges | (17,982) | (3,870) | (1,284) | - | (23,136) |
| Operating working capital | 111,449 | (172,411) | (7,457) | 4 | (68,415) |
| Other liabilities, net | - | - | (20,614) | (2) | (20,616) |
| Net working capital | 111,449 | (172,411) | (28,071) | 2 | (89,031) |
Debt Key Ratios
| 2008 | 2009 | 2010 | 2011 | |
| Net Financial Position/Net Debt | - 196 | - 279 | - 318 | - 290 |
| Net equity/ Equity (third included) | 239 | 302 | 381 | 424 |
| Ebit | 118 | 125 | 137 | 116 |
| Ratio | ||||
| Net Debt / Equity | -82% | -92% | -84% | -68% |
| Net Debt / Ebit | -166% | -223% | -232% | -250% |
Last updated 05/21/2013 - 23:10
