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Capital Ideas: The 2005 Working Capital Survey

(continued)

Best and Worst
Changes in DWC (% by industry)
Most Improved
Aerospace and Defense -8
Broadline Retailers -4
Computers -13
Containers and Packaging -12
Cosmetics/Personal Care -7
Food Retailers and Wholesalers -15
Major Oil Companies -10
Worst Deterioration
Air-freight Couriers +13
Construction +12
Pharmaceuticals +1
Soft Drinks +4
Telecommunications +6
Source: REL Consultancy Group

Slowing Down
U.S. and European companies demonstrated similar, slowing levels of working capital improvements.
COMPANY DSO
2004 Change 2004-2003 Change 2003-2002
Total U.S. (excluding automotive) 40.9 -1.0% -3.7%
Total U.S. 50.8 -2.5% -3.5%
Total Europe (excluding automotive) 50.9 -1.7% -1.9%
Total Europe 61.1 -1.1% -0.2%
COMPANY DIO
2004 Change 2004-2003 Change 2003-2002
Total U.S. (excluding automotive) 30.7 -1.5% -2.9%
Total U.S. 30.5 -1.2% -2.7%
Total Europe (excluding automotive) 33.7 -1.4% -3.2%
Total Europe 34.7 -1.3% -2.3%
COMPANY DPO
2004 Change 2004-2003 Change 2003-2002
Total U.S. (excluding automotive) 28.1 0.8% -2.0%
Total U.S. 28.8 0.9% -1.4%
Total Europe (excluding automotive) 40.7 0.4% 0.6%
Total Europe 41.2 0.2% 0.9%
COMPANY DWC
2004 Change 2004-2003 Change 2003-2002
Total U.S. (excluding automotive) 43.5 -2.5% -4.2%
Total U.S. 52.5 -3.6% -4.1%
Total Europe (excluding automotive) 43.9 -3.3% -5.1%
Total Europe 54.6 -2.2% -2.3%
Source: REL Consultancy Group


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SPREADSHEET FOR THE 2005
WORKING CAPITAL SURVEY

The online spreadsheet for the 2005 Working Capital Survey, conducted by REL Consultancy Group, features a browsable version of 77 industry sectors, featuring many companies not included in the magazine.

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