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 March 31, 2022 March 31, 2021 Dec 31, 2021
Cash and cash equivalents 253.5 410.4 385.9
Interest-bearing liabilities 306.1 441.3 287.2
of which current interest-bearing liabilities 60.4 198.9 40.3
Interest-bearing net debt 52.6 30.9 -98.7
Unused credit limits* 791.7 548.2 811.7
of which committed 305.5 205.5 305.5
Gearing ratio, % 3.1% 1.9% -6.1%
Equity ratio, % 70.0% 66.8% 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.