3Q11 - Zon
3Q11 - Zon
3Q11 - Zon
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Solid capital structure, 2.1x Net Financial Debt/ EBITDAChange in Net Financial Debt[Millions of Euros]2Q11706.8Improvement led by solid EBITDA and decline inCAPEXEBITDA-CAPEXNon-Cash Itemsand WorkingCapital22.044.5Reversal of the Change in WK after a peak in 2010due to accelerated CAPEX programmeLong TermContracts13.3LTC of 13.3 million euros, a decrease due to thescheduling of the cash paymentsNet Interest Paid7.5Income TaxesPaid8.1Cash tax payments abnormally high, due to 2 incometax pre-payments during <strong>3Q11</strong>Other Items0.9<strong>3Q11</strong>668.32.1x Net Financial Debt / EBITDA at the end of <strong>3Q11</strong>21
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