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Home arrow Fresenius Group arrow Summary of the Fiscal Year

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CASH FLOW

Fresenius generated a high operating cash flow of € 1,296 million in 2007 (2006: € 1,052 million). Key driver was the strong growth in earnings. The cash flow margin rose to 11.4% (2006: 9.8%).

OPERATING CASH FLOW, IN MILLION €
Operating Cash Flow
  • Cash flow before acquisitions and dividends increased to € 630 million (2006: € 481 million) despite the high investments in property, plant and equipment. It was sufficient to finance all acquisitions and dividends.
  • Free cash flow after acquisitions and dividends was € 33 million.

BALANCE SHEET

The balance sheet is solid. Total assets rose by 2% to € 15,324 million. In constant currency, the increase was 8%.

                           ASSETS                           EQUITY AND LIABILITIES
Assets Equity and Liabilities
  • Shareholders’ equity including minority interest increased by 6% to € 6,059 million.
  • The equity ratio including minority interest improved to around 40%.
  • Debt decreased by 3% to € 5,699 million (December 31, 2006: € 5,872 million). In constant currency, debt increased by 3%.
  • The net debt/EBITDA ratio improved to 2.6 (December 31, 2006: 3.0).

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