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Cash-Flow-to-Sales Ratio Increased in 2017. Profitability of the Austrian Manufacturing Sector

Author

Listed:
  • Klaus S. Friesenbichler
  • Werner Hölzl
  • Susanne Bärenthaler-Sieber

    (Austrian Institute of Economic Research)

  • Kerstin Hölzl

    (Austrian Institute for SME Research)

Abstract

In 2016, the cash-flow-to-sales ratio of the Austrian manufacturing sector reached an estimated 10.0 percent, a value higher than the previous year's ratio of 9.4 percent. The ratio should have further increased to 11.0 percent in 2017. The rising profit-ability ratio of manufacturing corresponds with sound economic growth performance of the sector. Its real value-added growth rate amounted to 1.3 percent in 2016 and 6.7 percent in 2017, respectively. According to additional estimates of a dynamic panel-econometric model at the industry level, the cash-flow-to-sales ratio in manufacturing will continue its up-ward trend in 2018.

Suggested Citation

  • 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.
    • Handle: RePEc:wfo:wblltn:y:2018:i:11:p:96-106
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    References listed on IDEAS

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    1. Klaus S. Friesenbichler, 2009. "Cash-Flow-Marge der österreichischen Sachgütererzeugung 2008 noch stabil," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(6), pages 415-424, June.
    2. Werner Hölzl & Klaus S. Friesenbichler & Kerstin Hölzl, 2014. "Leichter Rückgang der Cash-Flow-Quote. Die Ertragskraft der österreichischen Sachgütererzeugung 2013," WIFO Monatsberichte (monthly reports), WIFO, vol. 87(8), pages 569-580, August.
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    5. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
    6. 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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