2011 Half-year report - Tod's
2011 Half-year report - Tod's
2011 Half-year report - Tod's
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TOD’S Group<br />
<strong>2011</strong> <strong>Half</strong> Year Financial Report<br />
06.30.<strong>2011</strong><br />
Net financial position (NFP). At June 30 th<br />
<strong>2011</strong>, net financial position was positive and equal to<br />
88.7 million euros (200.3 million euros at June 30 th 2010), including liquid assets (cash and bank<br />
deposits) for 157.0 million euros, and liabilities for 68.3 million euros, of which 37.8 million<br />
euros for long-term exposures.<br />
Net Financial position (Euro 000’s)<br />
06.30.10 06.30.11 12.31.10 Change<br />
Current financial assets<br />
232,119 Cash and cash equivalents 157,017 171,729 (14,712)<br />
232,119 Current financial assets 157,017 171,729 (14,712)<br />
Current financial liabilities<br />
(24,267) Current account overdraft (25,343) (27,283) 1,940<br />
(1,521) Current share of medium-long term financing (5,168) (5,146) (22)<br />
(25,788) Current financial liabilities (30,511) (32,429) 1,918<br />
206,331 Current net financial position 126,506 139,300 (12,794)<br />
Non-Current financial liabilities<br />
(6,032) Financing (37,758) (42,805) 5,047<br />
(6,032) Non-Current financial liabilities (37,758) (42,805) 5,047<br />
200,299 Net financial position 88,748 96,495 (7,747)<br />
Net financial position at June 30 th<br />
<strong>2011</strong> amounts to 88.7 million euros (96.5 million euros at<br />
December 31 st 2010). Gross of dividends paid, net financial position would be equal to 150.0<br />
million euros (+53.5% millions in respect to December 31 s t 2010).<br />
(Euro 000’s)<br />
Cash Flows H1 <strong>2011</strong> H1 2010<br />
Profit (loss) for the period 65,409 51,618<br />
Non cash items 18,283 10,083<br />
Cash Flow 83,692 61,701<br />
Changes in operating net working capital (13,515) 27,852<br />
Operating cash flow 70,177 89,553<br />
Cash Flow from (used in) investment activity (31,270) (17,180)<br />
Cash Flow from (used in) financing activity (51,701) (50,050)<br />
Cash Flow from (used in) continuing operation (12,794) 22,323<br />
Cash flow from assets held for sale 0 0<br />
Cash Flow generated (used) (12,794) 22,323<br />
Net financial position at the beginning of the period 139,300 184,008<br />
Net financial position at the end of the period 126,506 206,331<br />
Change in current net finan cial position (12,794) 22,323<br />
Cash flow was 83.7 million euros in H1 <strong>2011</strong>, up 22 million euros from H1 2010. Operating cash<br />
flow was 70.2 million euros (89.6 million euros at June 30 th 2010), due to greater use of working<br />
capital, largely connected with the temporary accumulation of inventories due to the advanced<br />
19 Interim <strong>report</strong>
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