Consolidated Financial Statements >
Directors’ Report
84
| 2012 annual report prysmian group
NET WORKING CAPITAL
The main components of net working capital are analysed in the following table:
Net operating working capital amounted to Euro 486 million (6.3% of fourth-quarter annualised sales) at 31 December 2012,
compared with Euro 579 million (7.3% of sales) at 31 December 2011.
(in millions of Euro)
31 December 2012
31 December 2011
Change 31 December 2010
Inventories
897
929
(32)
600
Trade receivables
1,163
1,197
(34)
764
Trade payables
(1,450)
(1,421)
(29)
(862)
Other receivables/(payables)
(124)
(126)
2
(45)
Net operating working capital
486
579
(93)
457
Derivatives
(7)
(27)
20
37
Net working capital
479
552
(73)
494
