Search

Financing, cash flow and balance sheet

New capital investments done to the company in autumn 2018 and beginning of 2019 have significantly improved the financial position of the company.

Tecnotree’s working capital increased during the period by EUR 6.4 (decreased EUR 2.0) million:

CHANGE IN WORKING CAPITAL, MEUR
(increase - / decrease +)
2019 2018
Current receivables, increase (-) /decrease (+) -6.4 3.3
Inventories, increase (-) /decrease (+) 0.1 0.3
Current liabilities, increase (+) /decrease (-) -0.2 -1.6
CHANGE IN WORKING CAPITAL, TOTAL -6.4 2.0

Project revenue is recognized in other receivables. When the agreement allows the customer to be invoiced, the receivables are regrouped in trade receivables.

Tecnotree’s cash and cash equivalents totalled EUR 3.4 (4.2) million. Cash flow after investments for the financial period ended up EUR 0.1 million positive. The change in cash and cash equivalents for the financial period was EUR 0.8 million negative.

The balance sheet total on 31 December 2019 stood at EUR 36.8 (28.6) million. Tecnotree’s investments during the financial period was EUR 3.4 (0.2) million or 7.1% (0.0%) of net sales. Interest-bearing liabilities were EUR 14.0 (17.0). The equity ratio was 10.1% (-22.8%). During the period, total equity was affected by negative translation differences of EUR 0.5 million (-0.7), mainly from Indian rupees (INR).