NOTE B8 CAPEX
- Index
- 1 NOTE B1 Net sales
- 2 NOTE B2 Underlying raw material & energy costs
- 3 NOTE B3 Underlying EBITDA
- 4 NOTE B4 Underlying depreciation & amortization
- 5 NOTE B5 Underlying net financial charges
- 6 NOTE B6 Underlying income taxes
- 7 NOTE B7 Underlying profit from discontinued operations
- 8 NOTE B8 CAPEX
- 9 NOTE B9 Free Cash Flow
- 10 NOTE B10 Net working capital
- 11 NOTE B11 Underlying net debt
- 12 NOTE B12 CFROI
- 13 NOTE B13 Research & Innovation
In € million |
|
FY 2017 |
FY 2016 |
|||
Acquisition (-) of tangible assets |
a |
(707) |
(883) |
|||
Acquisition (-) of intangible assets |
b |
(115) |
(98) |
|||
Capex |
c = a+b |
(822) |
(981) |
|||
Capex flow from discontinued operations |
d |
(105) |
(141) |
|||
Capex from continuing operations |
e = c-d |
(716) |
(839) |
|||
Underlying EBITDA |
f |
2,230 |
2,075 |
|||
Cash conversion |
g = (f+e)/f |
68% |
60% |
Capex from continuing operations was €(716) million, €123 million lower than in 2016, in line with the planned reduction in capex intensity, raising cash conversion from 60% to 68%.