Financial Position

Operating cash flow in the black

In the third quarter, operating cash flow was €12.3 million (Q3 2006: €12.6 million). Free cash flow came to €10.4 million (Q3 2006: €11.2 million), representing a share of 7 percent of Group revenues.

Increase in total assets and capital expenditure

Total assets grew to €1,025.7 million as of September 30, 2007 (December 31, 2006: €643.9 million), reflecting additional borrowings to finance the acquisition. The equity-to-assets ratio decreased accordingly from 66 percent at year-end 2006 to 43 percent as of September 30, 2007. Shareholders‘ equity rose 5 percent to €442.9 million (December 31, 2006: €422.2 million). Capital expenditure amounted to €1.9 million in the quarter under review (Q3 2006: €1.4 million).

Further Information

Investor Relations



Annual Report 2006

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