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    Credit Profile

    贵州11选五遗漏查询 www.xv-j.com Our financing strategy is based upon three pillars: Protecting liquidity, ensuring financial stability and flexibility.?

    SAP’s primary source of cash is our strong operating cash flow. Over the past several years, the principal use of cash focused on:

    • Capital expenditure to support our growth
    • Quick repayment of financial debt
    • Acquisitions and venture activities
    • Payment of attractive dividends
    • Share buy-backs to return excess cash to shareholders

    Prime principle of our financial risk management is to safeguard liquidity at a level to be able to meet all our financial obligations – including your investment – at all times.
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    Minimum Operating
    Group Liquidity

    Ensured by stable cash flows driven by recurring revenue streams

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    Revolving
    Credit Facility

    Serves as a back-up credit facility with a relationship-defining character? for our 20 participating banks

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    M&A Driven External
    Debt Financing

    Optimal positioning of SAP in the current industry transformation, especially towards cloud business

    Financial Management

    The primary objective of our financial risk management is to maintain liquidity in the Group at a level that is adequate to meet our obligations. Most www.xv-j.companies have their liquidity managed by the Group, so that liquid assets across the Group can be consolidated, monitored, and invested in accordance with Group policy. High levels of liquid assets help keep SAP flexible, sound, and independent. In addition, various credit facilities are currently available for additional liquidity, if required.

    We manage credit, liquidity, interest rate, equity price, and foreign exchange rate risks on a Group-wide basis. We use selected derivatives exclusively for this purpose and not for speculation.

    Our balance sheet structure is conservative – with a high equity ratio, modest financial leverage, well-balanced maturity profile, and sufficient debt capacity.

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  • 推进58个重点项目 杭州加快钱塘江金融港湾建设 2019-03-21
  • 热巴窦骁携手演绎经典神话 2019-03-21
  • “苦口婆心,仁至义尽。丢掉幻想,准备斗争。”! 2019-03-18
  • 你的第一段就认识错误。中国人如果认为神赐就能有幸福,就不会有后羿射日精卫填海愚公移山的故事了。中华文明世界观推导出的方法论就是八个字,事在人为,人定胜天。 2019-03-07
  • 【大家谈】新时代干部需“底气十足” 2019-02-26
  • 提前查分、黑客改分?面对高考招生诈骗该怎么做 2019-02-26
  • 佛教中常说的看破红尘是什么意思? 2019-01-30
  • 【波士通达奔驰车型报价】波士通达奔驰4S店车型价格 2019-01-11
  • [酷]此文已经把马克思理论、边际理论、人类需求层次理论、生物学理论、心理学理论、社会管理学理论等理论在哲学层面完美融合了! 2019-01-11
  • [雷人]蠢货!土地处于不同的城市和地段,关联的资源不一样,价值也不一样。不然给咱俩同样面积的土地,咱的在北上广深,你的在边远山区,你干么? 2019-01-10