Group structure - BWT Group

Management Report 1999
Asset and financial position
Equity rose by 9% to
€ 92.2 million
Group cash flow from result increased
by 3.7%, from € 20.9 million
to € 21.7 million. In contrast,
cash flow from operating activities
decreased from € 19.4 million to €
1.7 million, largely as a result of a
strong increase in customer receivables
and a decrease in the volume
of deposits received. Cash
flow from investment activity reached
- € 26.3 million, a new high in
the history of the company.
Due to this strong investment
activity, net debt to credit instituti-
Balance sheet structure
of the BWT Group (in %)
245,3
4,9
28,6
26,5
40,0
1999 1998
– 38 –
219,7
7,0
28,3
27,9
36,8
Cash and cash equivalent
Receivables, deferred items
Inventories
Fixed assets
ons rose by € 11.7 million compared
with the previous year’s balance
sheet date, and now amounts
to € 27.6 million. We took up a
ten-year loan of € 17 million, a
financing horizon better matched
with the investments in fixed
assets and associates. There was
an increase of 11.7% in the balance
sheet total, largely as a result of
the expansion of the number of
consolidated companies, and at
the same time, equity was increased
by 9%, from € 84.7 million to
€ 92.2 million.
Liabilities
Provisions, accruals
Untaxed reserves
Equity
245,3
45,5
16,3
0,6
37,6
219,7
41,8
19,0
0,7
38,5
1999 1998