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Financing, cash flow and balance sheet

The company’s cash situation remained tight during the financial period.

Tecnotree’s working capital increased during the period by EUR 0.9 (decreased EUR 3.5) million:

CHANGE IN WORKING CAPITAL, MEUR
(increase - / decrease +)
2017 2016
Change in trade receivables -2.2 -1.7
Change in other short-term receivables 5.0 2.2
Change in inventories 0.4 -0.3
Change in trade payables -0.5 3.6
Change in other current liabilities -3.7 -0.2
CHANGE IN WORKING CAPITAL, TOTAL -0.9 3.5

 

Project revenue is recognized in other receivables. When the agreement allows the customer to be invoiced, the receivables are regrouped in trade receivables.

Tecnotree’s cash and cash equivalents totalled EUR 2.3 (3.5) million. Cash flow after investments for the financial period ended up EUR 4.8 million positive. The change in cash and cash equivalents for the financial period was EUR 0.9 million negative. At the end of the year company had EUR 0.2 million short-term credit limit from the bank in use.

The balance sheet total on 31 December 2017 stood at EUR 31.8 (59.8) million. Tecnotree’s investments during the financial period was EUR 0.2 (0.3) million or 0.5% (0.5%) of net sales. Interest-bearing liabilities were EUR 18.2 (24.4). The net debt to equity ratio (net gearing) was -261.2% (195.6%) and the equity ratio was -19.1% (17.9%). During the period, total equity was affected by negative translation differences of EUR 1.2 million, mainly from Indian rupees (INR).