Debt Programs
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Annual Reports Trelleborg Treasury
Net debt and financing
Net debt at the beginning of 2021 amounted to SEK 10,026 M. Net debt at the end of the year was impacted by the year’s net cash flow of SEK 1,969 M, negative exchange rate differences of SEK 446 M and non-cash adjustments of lease and pension liabilities totaling SEK 136 M.
Net debt at year-end for the Group amounted to SEK 8,367 M. Excluding the impact of lease liabilities and pension liabilities, net debt amounted to SEK 5,717 M (7,374).
The debt/equity ratio at the end of the period was 25 percent (35). Net debt in relation to EBITDA was 1.2 (1.7) at the end of the period.
SEK M
|
2021
|
2020
|
Non-current interest-bearing investments and receivables | 0 | 12 |
Current interest-bearing receivables | 114 | 233 |
Cash and cash equivalents | 3,497 | 5,756 |
Total interest-bearing assets | 3,611 | 6,001 |
Interest-bearing non-current liabilities | -9,685 | -10,718 |
Pension obligations | -548 | -604 |
Interest-bearing current liabilities | -1,745 | -4,706 |
Total interest-bearing liabilities | -11,978 | -16,027 |
Net debt | -8,367 | -10,026 |
Change in net debt: | ||
Net debt at January 1 | -10,026 | -14,914 |
Operating cash flow, Group | 4,569 | 5,332 |
Cash-flow effect of items affecting comparability | -98 | -325 |
Financial items | -199 | -319 |
Tax paid | -962 | -772 |
Free cash flow | 3,310 | 3,916 |
Acquisitions | -573 | 3 |
Divested operations | 616 | 147 |
Capital contribution to associated companies | -29 | - |
Dividend paid – shareholders of the Parent Company | -1,355 | - |
Net cash flow | 1,969 | 4,066 |
Exchange rate differences | -446 | 732 |
Lease liability 2 | 70 | 141 |
Pension liability 2 | 66 | -51 |
Net debt at year end | -8,367 | -10,026 |
Of which: | ||
Pension liability | -548 | -603 |
Lease liability | -2,102 | -2,049 |
Net debt excluding impact of lease and pension liability | -5,717 | 7,374 |
Debt/equity ratio, % Group | 25 | 35 |
Net debt/EBITDA 3 Group | 1.2 | 1.7 |
Group | ||
EBITDA/net interest income, multiples | 29.6 | 17.6 |
Return on shareholders’ equity, % | 12.0 | 9.4 |
Credit rating
Trelleborg has no official credit rating and has no history of credit rating.