Financial Ratios
Our Financial Ratios are impacted by the payment of the purchase price of €3.7bn for the acquisition of the National Starch businesses on April 03, 2008.
|
2008 |
2009 |
2010 |
2011 |
Q1/2012 | |
| Operating Debt Coverage 1) |
45.3% |
41.7% | 81.3% | 96.8% | 137.6% |
| Interest Coverage Ratio |
4.8 |
8.7 | 12.8 | 14.6 | 17.2 |
| Equity Ratio |
40.3% |
41.4% | 45.4% | 47.2% | 48.2% |
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Definition of Financial Ratios
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PDF
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Development of Debt
|
2008 |
2009 |
2010 |
2011 |
Q1/2012 | |
| Cash and cash equivalents securities and time deposits |
327 2) |
1,099 | 1,868 | 2,331 | 2,537 |
| Financial debt 3) |
4,099 2) |
3,906 |
3,934 | 3,723 | 3,696 |
| Net debt 4) |
3,772 |
2,807 | 2,066 | 1,392 | 1,159 |
| Pension provisions |
833 |
867 |
594 |
998 |
881 |
1) hybrid bond included on 50 % debt basis only
2) Short-term bank loans from the so-called bridge loan for the financing of the National Starch acquisition are set off against liquid funds where the deposit and the loan are with the same lender and are of similar maturity. The short-term borrowings set off amounted to 1,057 million euros in 2008.
3) Borrowings less positive and plus negative fair values of hedging transactions.
4) Borrowings less cash and cash equivalents and readily monetizable financial instruments classified as "available for sale", and also less positive and plus negative fair values of hedging transactions.
