Annual Report 2010 - Outokumpu

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Key financial indicators on financial position
Net interest-bearing debt 1 837 1 191 1 085
Shareholders' equity 2 376 2 451 2 795
Return on equity, % -5.1 -12.8 -6.2
Debt-to-equity ratio, % 77.3 48.6 38.8
Equity-to-assets ratio, % 42.2 50.6 52.4
Net cash generated from operating activities -497 201 662
Net interest expenses 38 22 55
Net cash generated from operating activities in 2010 was negative and totalled EUR -497 million (2009: EUR 201
million). The increase in working capital that resulted from increased delivery volumes and higher metal prices totalled
EUR 476 million (2009: EUR 552 million released from working capital). Cash and cash equivalents totalled EUR 150
million (2009: EUR 112 million) at the end of 2010.
Outokumpu Annual Report 2010 – Financial Statements – Review by the Board of Directors for 2010