Consolidated Financial Position
|Pirelli in figures (1,44 MB)|
The consolidated net financial position at the end of 2014 was negative 980 million euro (1.17 excluding Steelcord disposal impact), in line with the target of ~1.2 billion euro, after:
- 378 million euro of investments, mainly allocated to Premium Capacity improvement in Europe, Nafta and China as well as Mix improvement;
- 60 million euro of Dividends.
The net financial position trend benefited from the strong cash generation in the fourth quarter of the year, 882 million euro, in line with the seasonality of the business and due to an efficient management of working capital (positive impact of 715 million euro)