Development of Debt


 Financial Ratios

2010

2011

2012

2013

Q2/2014

 Operating Debt Coverage 1) 81.3% 91.6% 507.1%

n.a.*

n.a.*
 Interest Coverage Ratio 12.8 14.0 14.3

23.9

43.5
 Equity Ratio 45.4% 46.9% 48.7%

52.5%

53.9%

* Figure cannot be calculated due to a negative divisor.


Definition of Financial Ratios

Development of net financial position



in million euros

2010

2011

2012

2013

Q2/2014

Cash and cash equivalents
securities and time deposits
1,868 2,331 3,483

3,457

2,323
Financial debt 2) - 3,934 - 3,723 - 3,568

- 2,498

- 2,167

Net financial position 3) - 2,066 - 1,392 - 85

959

156
Pension provisions

- 594

- 998

- 960

- 820

- 1,021

1) Hybrid bond included on 50 % debt basis.
2) Borrowings less positive and plus negative fair values of hedging transactions.
3) Borrowings less cash and cash equivalents and readily monetizable financial instruments classified as
  "available for sale" or in the "fair value option", and also less positive and plus negative fair values
   of hedging transactions.