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Debt financing

Structure of debt financing on June 30, 2018 EUR million

Debt financing

Tikkurila's debt financing consists mainly of a EUR 150 million long-term revolving credit facility and term loan agreement, which was entered into with a club of three banks in June 2015. This debt facility has the following components: 

  • EUR 100 million five-year revolving credit facility
  • EUR 50 million term loan, which matures in January 2021 

Moreover, Tikkurila has the following debt facilities:

  • commercial paper program of EUR 150 million
  • some credit limits and finance leasing contracts 

 

Key figures and ratios

The chart below presents the year-end/quarter-end key figures and ratios related to debt financing. 

 

1-6 / 2018

 2017

 2016

2015

2014

2013

2012

Interest-bearing debt (EUR million)

190.5

 107.1

 77.2

 63.0

73.1

77.8

96.6

Cash and cash equivalents
(EUR million)

33.3

 17.0

 18.5

16.8

25.8

29.2

15.7

Net interest-bearing debt (EUR million)

157.3

 90.1

 58.7

46.2

47.4

48.6

80.8

Gearing (%)

104.6

 50.2

 28.1

23.7

24.6

23.4

40.6

Equity ratio (%)

28.1

 42.0

 50.9

51.1

49.5

50.1

45.9

Average capital-weighted rate of interest-bearing debt (%)

0.8

 0.8

   0.8

1.2

1.6

1.5
 

2.1

 

Further information

Stock Exchange Release:

Tikkurila rearranged its long-term debt financing

Tikkurila's commercial paper program renewed

The financial risks are described in the notes to the consolidated Financial Statements.

 

Credit rating

Tikkurila has no official rating from any credit rating agency.