Cash flow generation in the reporting period was highly positive, as underscored by the voestalpine Group’s strong ability to fund itself internally even in a difficult market environment. In the business year 2020/21, the cash flows from operating activities rose significantly to EUR 1,633.5 million (2019/20: EUR 1,304.0 million). The successful implementation of the steps the company took to reduce working capital by EUR 633.3 million over the reporting period were key to its excellent performance in this respect. This followed the reduction in working capital by EUR 433.9 million that had already been achieved in the business year 2019/20. Investing activities during the business year 2020/21 were highly selective, with the result that investments in other intangible assets as well as property, plant and equipment were EUR –599.3 million, down from EUR –747.9 million in the previous business year. No noteworthy acquisitions were made in the business year 2020/21 following the Group’s already reduced acquisition activity in the business year 2019/20. While the item, “additions to/divestments of other financial assets,” was positive in the previous business year (EUR 108.8 million), it is negative in the reporting period (EUR –84.1 million). Based on these figures, the cash flows from investing activities changed from EUR –606.8 million in the business year 2019/20 to EUR –665.8 million in the business year 2020/21. The cash flows from Group financing activities in the reporting period are EUR –595.6 million (2019/20: EUR –374.3 million). In sum, cash and cash equivalents rose in the business year 2020/21 by EUR 372.1 million (increase in 2019/20: EUR 322.9 million).
- From investing activities: outflow/inflow of liquid assets from investments/disinvestments;
- From operating activities: outflow/inflow of liquid assets not affected by investment, disinvestment, or financing activities.
- From financing activities: outflow/inflow of liquid assets from capital expenditures and capital contributions.