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 |
Sept 30, 2022 |
Sept 30, 2021 |
Dec 31, 2021 |
|
Cash and cash equivalents |
119.7 |
89.8 |
385.9 |
|
Interest-bearing liabilities |
493.3 |
340.8 |
287.2 |
|
of which current interest-bearing liabilities |
255.9 |
98.5 |
40.3 |
|
Interest-bearing net debt |
373.6 |
251.0 |
-98.7 |
|
Unused credit limits* |
743.6 |
751.2 |
811.7 |
|
of which committed |
255.4 |
305.5 |
305.5 |
|
Gearing ratio, % |
22.2% |
15.9% |
-6.1% |
|
Equity ratio, % |
64.0% |
65.7% |
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. EUR 25 million of unused credit limits was withdrawn in August and EUR 25 million in September.