Investor Presentaiton
Free cash flow
In € million
H1 2015/16
H1 2016/17
Adjusted EBIT
167
200
Depreciation & amortisation
74
69
Restructuring cash-out
(24)
(18)
•
High contribution of operating
profit
Positive evolution of working
capital
Several large down-payments
Capex
(50)
(43)
•
Volatility on short period
R&D capitalisation
(28)
(21)
Change in working capital
(164)
188
Financial cash-out
(83)
(11)
Phasing of both capex and
legacy cash-out
Tax cash-out
(162)
(40)
Other*
(1,066)
9
Free cash flow
(1,336)
333
*includes free cash flow from discontinued operations
ALSTOM - February 2016 - P 18
ALSTOM 2016. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project.
This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.
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