7. Capital investments and financial position
INVESTMENTS IN EUR MILLION |
2007/2008 |
2006/2007 |
± |
± % |
|
Intangible assets |
16.0 |
12.1 |
3.9 |
32.2 |
|
Tangible assets |
284.9 |
382.9 |
-97.9 |
-25.6 |
|
Financial assets |
92.9 |
106.5 |
-13.6 |
-12.8 |
|
Total |
393.8 |
501.4 |
-107.6 |
-21.5 |
Investments made on the part of Wien Energie in the course of the 2007/2008 financial year amounted to EUR 394m. Capital investments in tangible assets accounted for EUR 285m, 26% or EUR 98m less than in prior period in which capital investments reached an all-time high of EUR 383m. The main focuses of these investments lay in power generation and in the area of grid infrastructure. The decline in investments in tangible assets is largely accounted for by the high degree to which the expansion and modernisation of the Simmering 1/2 power station were financed in the previous period.
A comparison of the depreciation of tangible and the amortisation of intangible assets across this and the prior period reveals that Wien Energie has invested considerably more than the existing assets have lost in carrying value as a result of depreciation or amortisation. Investments of EUR 301m are only partially offset by depreciation and amortisation totalling EUR 221m.
INVESTMENT RATIOS IN % |
2007/2008 |
2006/2007 |
± |
± % |
|
CAPEX ratio1) |
13.3 |
20.2 |
-6.9 |
-34.0 |
|
Internal financing ratio2) |
50.9 |
62.4 |
-11.5 |
-18.5 |
|
2) Internal financing ratio = [(cash flow from operating activities) / (total investment)] x 100 | ||||
It is against this backdrop that the CAPEX ratio rose by 6.9% to 13.3%. With positive cash flow from operating activities of around EUR 200m, Wien Energie is in a position to finance approximately half its investments from its own funds.
Service functions
Download
