palfinger at a glance

noteS TO THE CONSolidated FINANCIAL StatementS
conSolidated FINANCIAL StatementS FOR THE Year ENDED 31 DECEMBER 2011
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Financial Risks
The main focus of PALFINGER, in accordance with its own treasury guidelines, is on minimizing financial risks,
which are individually enumerated in the following.
1. LIQUIDitY Risk
Liquidity risk is the risk arising from the necessity to have sufficient funds available at any time in order to meet
obligations when they come due.
Managing the liquidity risk is the responsibility of the Group’s treasury department, which uses efficient cash
management systems for this purpose. Group-wide cash reporting ensures the necessary transparency in order to
be able to control funds in a targeted manner. Medium to long term planning allows PALFINGER to identify any
financial need that may arise and coordinate this need with its banking partners at an early stage.
In order to extend the maturities of the financial liabilities, the acquisitions carried out and the loans maturing in
2011 were also refinanced through long-term loans. These facilities have a maturity of approximately five years.
Another component to ensure liquidity was to maintain long-term credit lines with PALFINGER’s banking partners.
The existing financing agreements were extended and have durations of up to three years.
The contractual remaining time to maturity of undiscounted cash flows is broken down as follows:
EUR thousand 31 Dec 2010 < 1 year 1–5 years > 5 years
Financial liabilities 192,958 61,905 124,712 6,341
Trade payables and other liabilities
Trade payables 56,108 55,945 163 0
Other liabilities 4,277 4,277 0 0
60,385 60,222 163 0
Total 253,343 122,127 124,875 6,341
EUR thousand 31 Dec 2011 < 1 year 1–5 years > 5 years
Financial liabilities 199,629 107,308 92,321 0
Trade payables and other liabilities
Trade payables 62,584 62,417 167 0
Other liabilities 6,747 6,747 0 0
69,331 69,164 167 0
Total 268,960 176,472 92,488 0
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palfinger Annual Report 2011