Financing structure

Statement of financial position IFRS (EUR mn) 2016 2015* 2014* 2013 2012
Total assets 2,625.3 2,410.6 2,359.2 2,439.9 2,632.7
Non-current assets/Total assets % 51.5 57.3 60.5 61.8 56.2
Current assets/Total assets % 48.5 42.7 39.5 38.2 43.8
Adjusted equity 1,390.5 1,218.6 1,054.9 1,109.6 1,153.1
Adjusted equity ratio % 53.0 50.6 44.7 45.5 43.8
Net financial debt 7.2 327.9 449.5 504.7 346.3
Net financial debt/EBITDA - 1.1 1.9 2.2 1.0
Net debt 115.8 424.5 552.5 582.0 445.5
Net Gearing % 0.5 26.9 42.6 45.5 30.0
ROCE % 15.1 8.1 (0.1) 3.7 13.7
Trading working capital 379.6 447.4 395.7 393.7 363.8
Trading working capital to annualized group revenue 17.1% 21.6% 19.5% 21.3% 17.4%
Cash flow IFRS (EUR mn) 2016 2015 2014 2013 2012
Gross cash flow 385.9 284.5 230.8 94.6 248.0
Gross cash flow/Revenue % 18.1 14.4 12.4 5.0 11.9
Operating cash flow 473.4 215.6 218.8 82.3 209.4
Free cash flow 366.3 145.0 114.8 (163.9) (109.1)
CAPEX 107.2 70.9 104.3 248.7 319.6

*) Error correction in accordance with IAS 8 (see Consolidated financial statements of the Lenzing Group).
The financial indicators are derived primarily from the IFRS consolidated financial statements. Further details can be found in the section “Notes on the financial performance indicators of the Lenzing Group”, in the glossary to the Annual Report and the consolidated financial statements of the Lenzing Group. Rounding differences may occur in the presentation rounded amounts and percentages.