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Enter your PIN http://fatmomtube.in.net fatmomtube com The rating also reflects L"Oreal"s strong free cash flow (FCF) generation capacity. In 2012 FCF after dividends was EUR1.4bn, up from EUR0.9bn in 2011. Over the next three years Fitch expects the group"s annual FCF after dividends to remain above EUR1.0bn. Further EBITDA uplift should compensate for working capital needs growing in line with sales, as well as a continued steady increase in dividends.
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