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13:53 Feb 19, 2012
French to English translations [PRO] Law/Patents - Finance (general) / Annual report
French term or phrase:décalage
Working on an annual report and came across the following sentence. The meaning of the word in this financial context is eluding me. As always, thanks in advance for all suggestions.
"Le Free Cash Flow cumulé est supérieur au budget, avec une variation positive du BFR d’exploitation et un décalage de certains investissements."