rahoitusrakenne

FINANCING STRUCTURE

Net interest-bearing debt in January-March was EUR 156.7 (155.7) million and gearing decreased to 106.0% (108.4%). The Group’s equity ratio at the end of the review period was 34.8% (34.7%). 

Net financial expenses in January–March totaled EUR -1.9 (-1.1) million. The average interest rate of interest-bearing liabilities, excluding lease liabilities, rose strongly and was 3.7% (1.3%) increasing Aspo’s interest expenses. Exchange rate fluctuations increased fx-gains and affected positively the net financial expenses.

The Group’s liquidity position remained strong. Cash and cash equivalents stood at EUR 35.6 (33.5) million at the end of the review period, of which cash and cash equivalents related to businesses held for sale were EUR 10.1 (11.8) million. Committed revolving credit facilities, totaling EUR 40 million, were fully unused, as in the comparative period. Aspo’s EUR 80 million commercial paper program also remained fully unused. 

 

BONDS

On June 7, 2022, Aspo issued a new hybrid bond of EUR 30 million. The coupon rate of the bond is 8.75% per annum. The bond has no maturity, but the company is entitled to redeem it in June 2025 at the earliest. Aspo’s previous hybrid bond of EUR 20 million was redeemed on May 2, 2022.

In September 2019, Aspo Plc participated in a EUR 40 million group bond guaranteed by Garantia Insurance Company with a loan unit of EUR 15 million. The loan has a maturity of five years and a fixed annual coupon rate of 0.75%. In addition to the coupon rate, Aspo will pay an annual guarantee provision to Garantia. The proceeds from the loan unit will be used to cover the Group’s general financing needs.


Updated: 30.11.2023

Equity ratio and gearig

Maturity of loan agreements

Intrest bearing liabilities on September 30, 2023: 188 M€