financial asset, unconsolidated listed holding companies without a controlling sharesholder accounts reveivable decrease : is FCFO increase is 26.2 : ROCE = EBITDA/ Capital employé net debt to EBITDA = how long it takes to pay back debt at current performance Noncash working capital sup à 0 : financing need FCFO
financial asset, unconsolidated listed holding companies without a controlling sharesholder accounts reveivable decrease : is FCFO increase 26.2 : ROCE = EBIT/ Capital employé net debt to EBITDA = how long it takes to pay back debt at current performance Noncash working capital sup à 0 : financing need FCFO FCFO=EBITDA−Impôts + Ajustements 220 Income tax payable restructuring charges 8.2 sells long term financial assets 3.3% increase of IC will decrease FCFO and ROCE retained earnings in year T = Retained earningsT-1 + Net incomeT – DividendsT NCWC = LT asset - CT liab NCWC = current asset - current liab - cash FCFO= EBIT- operating taxes+D&A-WC-Capex