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> Financial statements
> Information about the Group’s current and expected financial standing
> Liquidity
Liquidity
| 2012 | 2011 | Growth rate | ||
|---|---|---|---|---|
| Current ratio | Current assets Short-term liabilities (excluding short-term provisions) |
1.97 | 2.09 | 94.3% |
| Quick ratio | Current assets – Inventories Short-term liabilities (excluding short-term provisions) |
1.60 | 1.77 | 90.4% |
download tableIn 2012, the current ratio reached a value of 1.97, indicating the maintenance of financial balance. The correct relationship between the amount of current assets and the amount of liabilities was maintained. The quick ratio decreased by 9.6% to 1.60 as at the end of 2012 as a result of a decrease in current assets (excluding inventories) by 13.4%.
In 2012, the Group had full capability to cover its short-term liabilities with cash and quickly liquefiable current assets.
