Key Balance Sheet and Financing Figures

  31 Dec'18 31 Dec'17 Change, %
Balance sheet total EURm 1,752.81,719.8 1.9
Interest-bearing debt EURm 892.8805.0 10.9
Cash and equivalents EURm 23.871.8 -66.9
Average loan maturity yrs0.84.5 -82.2
Loan-to-value (LTV) % 53.350.1 -
Equity ratio % 40.844.8 -
Solvency ratio % 49.642.6 -
Secured solvency ratio % 35.135.3 -
Unencumbered asset ratio % 21.013.8 -
Interest coverage multiple 3.94.3 -9.2

On June 30, 2018, the average interest rate on interest-bearing liabilities was 2.19% (2.60%).

The change in average loan maturity of interest-bearing liabilities relates to the “change of control” event in the majority of Technopolis’ financing agreements and the consequent agreed stand-still period of six months. Technopolis has initiated refinancing negotiations to replace its current funding. The management believes that the negotiations will lead to a positive outcome and funding will be secured.

Division of Interest-Bearing Liabilities, December 31, 2018

Total: EUR 892.8 million

  • The average interest rate on interest-bearing liabilities was 2.19%.
  • The average interest fixing period was 3.8 years.
  • Hedge ratio 41.6%.

Maturity Profile of Interest-Bearing Debt, December 31, 2018

Last updated 28.2.2019