Investor Presentation
Operating cash flow
Operating cash flow is substantially up both on a quarterly and YTD basis
EURM
Full-
Q3
Q1-3
year
2019
2018
2019
2018
2018
Operating cash flow breakdown
Cash flow from operating activites
25.3
12.2
34.7
9.7
31.2
Purchase of PPE (net)
-3.9
-3.7
-12.6
-12.9
-16.3
Purchase of intangible fixed assets
-0.3
-0.4
-1.4
-1.7
-2.2
Add back items affecting comparability (IAC)
0.2
0.4
2.4
2.4
5.2
Lease payments
-5.4
-
-14.5
Operating cash flow incl. Income tax paid
16.0
8.6
8.5
-2.6
17.9
Add back Income tax paid
0.9
1.4
3.4
3.1
6.3
Operating cash flow
16.9
9.9
12.0
0.4
24.2
Note: For YTD calculations please see Reconciliation tables (p. 44-45)
Source: Company information
CHSER
COMMENTARY
The operating cash flow for the third quarter amounted to EUR 16.9m (9.9) and
followed the normal seasonal pattern, with a working capital increase compared with
year end 2018
The operating cash flow for the first three quarters amounted to EUR 12.0m,
significantly up from the same period last year (0.4)
The YTD capex level are very much in line with the previous year
IAC are primarily relating to acquisition costs
POLYGON VA
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