Free Cash Flow and Cash Conversion

Free cash flow for 2014 amounted to €222 million as operating cash flow generated compensated the increase in capital expenditure related to stores and global projects. Cash conversion stood at 52.2%. The following table shows the development of free cash flow and cash conversion in 2014. GrandVision uses free cash flow and cash conversion to monitor and manage its cash performance.

Free cash flow and cash conversion

2014

2013

Free cash flow (€ million)

222

220

Cash conversion (%)

52.2%

54.9%