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Cash-Flow Margin of Austrian Manufacturers Still Resilient in 2008

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  • Klaus S. Friesenbichler

Abstract

The cash earnings of Austrian manufacturing, estimated by WIFO at 10.3 percent of the turnover in 2008, were close to their long-term average. During the last years, i.a., due to rising cash flows, the equity ratio rose to 38.5 percent in 2007, exceeding for the first time the European average of 36.7 percent. Financial assets of Austrian manufacturers, at a ratio of 15.6 percent of the balance sheet total in 2007, was rather low by international standards and rose only little in the last few years. Thus, manufacturing companies are by this measure substantially less exposed to the financial market crisis than those of other countries.

Suggested Citation

  • Klaus S. Friesenbichler, 2009. "Cash-Flow Margin of Austrian Manufacturers Still Resilient in 2008," Austrian Economic Quarterly, WIFO, vol. 14(3), pages 144-153, September.
    • Handle: RePEc:wfo:wquart:y:2009:i:3:p:144-153
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    References listed on IDEAS

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    1. Michael Peneder & Michael Pfaffermayr, 2003. "Mäßige Ertragsentwicklung im Jahr 2002. Cash-Flow und Eigenkapital der österreichischen Sachgütererzeugung," WIFO Monatsberichte (monthly reports), WIFO, vol. 76(3), pages 179-189, March.
    2. Marcus Scheiblecker, 2009. "Auch Österreich von der internationalen Wirtschaftskrise stark getroffen. Prognose für 2009 und 2010," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(4), pages 215-226, April.
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    Cited by:

    1. 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.
    2. 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.
    3. 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.

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