DEBT AND FINANCING

In this section you can find information on Nokian Tyres’ financial position. Nokian Tyres has not issued any bonds, and company currently has no credit ranking. 

In May 2019, Nokian Tyres signed EUR 100 million loan agreement, which terms are linked to sustainability targets. Read more.
  

Financial position 

EUR million

Dec 31, 2022

Dec 31, 2021

Cash and cash equivalents

259.0

385.9

Interest-bearing liabilities

399.9

287.2

of which current interest-bearing liabilities

198.8

40.3

Interest-bearing net debt

140.9

-98.7

Unused credit limits*

799.3

811.7

of which committed

305.4

305.5

Gearing ratio, %

9.8%

-6.1%

Equity ratio, %

64.9%

68.4%

* The current credit limits including the EUR 500 million commercial paper program are used to finance inventories, trade receivables, and subsidiaries in distribution chains, thereby controlling the typical seasonality in the Group’s cash flow. The interest-bearing liabilities were increased by EUR 150 million with two bilateral facilities in May.