Strategic Plan - FCC
Strategic Plan - FCC
Strategic Plan - FCC
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Financial Strategy<br />
Objectives<br />
Financial strategy aims to strengthen the Group's balance sheet and reduce bank debt<br />
1 2 3<br />
Financial Debt Reduction<br />
Cash Flow from Activities<br />
generation<br />
Diversification of funding<br />
sources<br />
Reduce net debt by € 2,700 Mn to<br />
€ 5200 Mn<br />
Generate an annual Cash Flow<br />
from Activities (1) of € 850 Mn<br />
Reduction of the weight of bank debt<br />
over total<br />
7.300<br />
7.900<br />
Antes Before Antes<br />
2011<br />
2011<br />
2012<br />
2012<br />
5.200 5,200<br />
Después After<br />
1200<br />
1000<br />
800<br />
600<br />
400<br />
200<br />
0<br />
100% 85% -90%<br />
1.000 850<br />
15%<br />
90%<br />
80% -85%<br />
80%<br />
13%<br />
70% 11%<br />
8%<br />
60%<br />
9%<br />
50%<br />
9% 7%<br />
40%<br />
250<br />
5%<br />
30%<br />
20%<br />
3%<br />
2%<br />
10% 1%<br />
0% -1%<br />
Antes Before Antes After Después<br />
Antes Before Antes<br />
2011<br />
2011<br />
2012<br />
2012<br />
2011<br />
2011<br />
2012<br />
2012<br />
60% -65%<br />
Después After<br />
Net Debt CF f/ Activities CF Act/ Revenues Bank loans<br />
(1) Cash flow at end of the period referred to the recurring cash generated from operations and investment<br />
18
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