pardon schreef op 30 juni 2013 00:43:
Free cash flow model
in EURm (except per share data) 2012 2013 2014 2015 2016 2017 2018 2019 2020perpetual
Value operations (DCF) 8.9 Revenues 12.0 13.7 14.9 15.5 16.1 16.6 17.0 17.3 17.6 17.7
Less: net debt -2.7 Operating margin -1.1% 2.8% 6.8% 9.5% 9.2% 9.0% 8.8% 8.6% 8.4% 8.2%
Less: pensions -1.1 EBITA -0.1 0.4 1.0 1.5 1.5 1.5 1.5 1.5 1.5 1.4