KBA Posts Pre-tax Profit in Third Quarter as Incoming Orders Spike

Finances and balance sheet outperform industry average
Notwithstanding an increase in working capital to support a bigger turnover in the fourth quarter, higher earnings and payments received helped to swell cash flows from operating activities to €11.6 million (2009: €9.5 million). This was much better than the half-year figure of €-18.1 million. Following investment payments the free cash flow came to €0.4m (2009: €-4.6 million). Alongside access to ample credit lines the group had funds amounting to €67.9 million. Its net financial position remained positive at €24.7 million, due in part to a reduction in bank loans to €43.2 million. Despite a €69.6m increase in the balance sheet total to €1,130 million the equity ratio was an above-average 37.3 percent.