2005 Annual report - Virbac
2005 Annual report - Virbac
2005 Annual report - Virbac
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9<br />
Cash flow (in € million)<br />
39.9<br />
29.0<br />
2004 <strong>2005</strong><br />
14.1<br />
Investments (in € million)<br />
25.6<br />
Financial structure (in € million)<br />
Capital employed<br />
Financing<br />
184.8 196.2<br />
184.8 196.2<br />
150.7<br />
148.1<br />
148.6<br />
122.4<br />
11.5<br />
10<br />
3.7<br />
5.9<br />
36.2<br />
45.5<br />
24.5<br />
37.9<br />
33.3<br />
0<br />
14.8<br />
0.4<br />
2004 <strong>2005</strong> 2004 <strong>2005</strong> 2004 <strong>2005</strong><br />
■ Intangible investments<br />
■ Tangible investments<br />
■ Financial investments<br />
■ Net long-term investments<br />
■ Working capital requirement<br />
(WCR)<br />
■ Equity – Group share<br />
■ Minority interests and<br />
long-term provisions<br />
■ Net debt
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