Consolidated Financial Position
|Pirelli in figures (1,54 MB)|
Net Cash Flow generation before dividends payment in 1H14 was 190 million euro, almost doubled as compared with 1H13.
The result was mainly achieved through:
- An improvement of Net Working Capital, as we cashed-in the Winter sales booked in 1Q;
- Reduction of Inventory.
Therefore our Net Financial Position (at the end of June) amounts to ˜1.9 billion euro, in line with full year target of 1.2 billion euro, which implies a high cash generation in the second half, in line with the seasonality of the business.