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Slight Reduction in Cash-Flow-to-Sales Ratio. Profitability of Austrian Manufacturing in 2013

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  • Werner Hölzl
  • Klaus S. Friesenbichler
  • Kerstin Hölzl

    (Austrian Institute for SME Research)

Abstract

In 2013, the cash-flow-to-sales ratio of the Austrian manufacturing sector reached an estimated 9.0 percent, a value significantly below the long-run average of 9.6 percent. The persistently muted performance of the manufacturing sector has affected the cash-flow-to-sales ratio, which declined substantially in the aftermath of the financial crisis. The sector's real value added growth amounted to a mere 1.2 percent in 2012 and 2013. According to the estimates of a dynamic panel-econometric model at industry level, the cash-flow-to-sales ratio in manufacturing declined slightly against 2012 (2012: 9.2 percent).

Suggested Citation

  • Werner Hölzl & Klaus S. Friesenbichler & Kerstin Hölzl, 2014. "Slight Reduction in Cash-Flow-to-Sales Ratio. Profitability of Austrian Manufacturing in 2013," WIFO Bulletin, WIFO, vol. 19(12), pages 110-120, November.
    • Handle: RePEc:wfo:wblltn:y:2014:i:12:p:110-120
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    References listed on IDEAS

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    Cited by:

    1. Klaus S. Friesenbichler & Werner Hölzl & Susanne Bärenthaler-Sieber & Kerstin Hölzl, 2018. "Cash-Flow-to-Sales Ratio Increased in 2017. Profitability of the Austrian Manufacturing Sector," WIFO Bulletin, WIFO, vol. 23(11), pages 96-106, October.
    2. Klaus S. Friesenbichler & Werner Hölzl & Kerstin Hölzl, 2017. "Cash-Flow-to-Sales Ratio 2016 Remains Stable at a High Level. Profitability of Austrian Manufacturing Sector," WIFO Bulletin, WIFO, vol. 22(13), pages 123-132, August.
    3. Klaus Friesenbichler & Tim Slickers & Arash Robubi, 2022. "Strong Recovery of Earnings Power in Austrian Manufacturing in 2021," WIFO Reports on Austria, WIFO, issue 13, September.
    4. Klaus S. Friesenbichler & Werner Hölzl & Kerstin Hölzl, 2016. "Cash-Flow-to-Sales Ratio Unchanged in 2015. Profitability of Austrian Manufacturing," WIFO Bulletin, WIFO, vol. 21(14), pages 136-145, November.
    5. Susanne Bärenthaler-Sieber & Klaus S. Friesenbichler & Arash Robubi, 2019. "Cash-Flow-to-Sales Ratio Stagnating in 2018. The Profitability of the Austrian Manufacturing Sector," WIFO Bulletin, WIFO, vol. 24(11), pages 90-98, December.

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