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Net debt

Net debt increased from €936 million at year-end 2010 to €1,895 million at year-end 2011, mainly due to:

  • Operating cash inflow of €325 million
  • Capital expenditures of €708 million
  • Net cash outflow for acquisitions and divestments of €138 million
  • Payments of dividends of €362 million.

Mid-December, we bought back high interest bonds for a total nominal amount of €528 million and a total consideration of €633 million. This transaction resulted in a loss of €67 million. However, going forward this loss will be off-set by the significantly reduced coupon on a new €800 million seven year bond launched in the same month. As a result, our maturity profile has improved.

Copyright © 2012 Akzo Nobel N.V.