1989 |
1990 |
1991 |
|
Sales |
|||
Tobacco |
7,560 |
8,294 |
8,983 |
Food |
10,438 |
11,383 |
12,092 |
Total |
17,998 |
19,677 |
21,075 |
Cash Flow |
|||
Tobacco operating EBIT |
2,022 |
2,360 |
2,786 |
+ Food operating EBIT |
1,163 |
1,255 |
1,348 |
= Total EBIT |
3,185 |
3,615 |
4,134 |
- Corporate expenses |
287 |
279 |
296 |
= EBIT |
|||
- Taxes (@rate 35.5%) |
|||
= EBIAT |
|||
+ Depreciation |
783 |
767 |
794 |
- Increased working capital |
150 |
158 |
165 |
- Capital Expenditure |
1,708 |
1,462 |
1,345 |
Total free cash flows |
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