ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ...
ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ...
ANNUAL REPORT OF âTRANSGAZâ MANAGEMENT INDIVIDUAL ...
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SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007<br />
Evolution of liquidity ratios<br />
The liquidity ratios show the available floating capital, as well as the likelihood of the<br />
latter to quickly turn into liquidity for current debt settlement. Over the entire period<br />
under analysis, such ratios fall between the optimum range of 0.65 – 1. The steady<br />
growth of such ratios, registered on December 31 st , 2007, was due to the sum gained<br />
from sales of shares, following share capital increase under GD no.1329/2004,<br />
amended by GD no. 708/2005, amounting to lei 261,065.64 thousand.<br />
2.00<br />
1.50<br />
1.00<br />
0.50<br />
0.00<br />
2005 2006 2007<br />
Current liquidity 0.89 0.95 1.84<br />
Quick liquidity 0.75 0.82 1.74<br />
Risk ratios<br />
The risk ratios reflect the extent in which the company deals with payment liabilities,<br />
the company’s maximum leverage capacity, emphasizing the proportion between longterm<br />
loans and the aggregated funds advanced by the company into the economic<br />
circulation. The calculated risk ratios are within the normal accepted limits.<br />
25.00<br />
20.00<br />
15.00<br />
10.00<br />
5.00<br />
0.00<br />
2005 2006 2007<br />
Loan capital<br />
18.03 10.85 7.79<br />
/ Own capital<br />
Interest coverage rate 11.72 20.45 23.08<br />
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