Basic principles and objectives of financial management

Overview of the DEUTZ Group’s financial position    
  2014 2013
€ million    
Cash flow from operating activities 114.1 105.0
Cash flow from investing activities –55.9 –84.6
Cash flow from financing activities –17.5 –13.2
Change in cash and cash equivalents 40.7 7.2
Free cash flow from continuing operations 52.0 13.8
Cash and cash equivalents at 31 December 101.7 58.9
Current and non-current interest-bearing financial liabilities at 31 December 88.0 90.6
Net financial position at 31 December 13.7 –31.7
Free cash flow: cash flow from operating and investing activities minus net interest expense.
Net financial position: cash and cash equivalents minus current and non-current interest-bearing financial liabilities.

Central responsibility for treasury

Responsibility for financial management in the DEUTZ Group lies with DEUTZ AG as the parent company of the Group. Financial management primarily consists of obtaining the necessary funds, managing their use within the Group, pooling cash resources and hedging interest-rate risk, currency risk and commodities risk throughout the Group.

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