Consolidated financial position

The net financial position on March 31, 2017 was negative in the amount of 5,525.2 million euro (-4,912.8 million euro at December 31, 2016).

The operating cash flow on March 31, 2017 was negative 720.1 million euro (-592.3 million in the same period of 2016). The figure reflects, among other things, growth of investments – 98.3 million euro compared with 70 million euro at March 31, 2016 - mainly aimed at increasing Premium segment capacity in Europe and NAFTA and at the continuous improvement of the mix and quality in all manufacturing plants.

Net cash flow before dividend sand extraordinary operations was negative in the amount of 881.7 million euro compared with a negative result of 838.3 million euro recorded for 2016. The total cash flow was negative in the amount of 612.4 million euro (negative in the amount of 779.0 million euro in 2016) and includes the positive effect of 269.3 million euro resulting from the finalization of the Industrial business reorganization.


Last Revised: 22 May 2017