Debt Programs
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Annual Reports Trelleborg Treasury
Net debt and financing
At the beginning of 2024, the Group reported a net cash position of SEK 2,682 M.
During the year, net debt was impacted by free cash flow for the year of SEK 2,917 M (2,526). Net cash flow amounted to SEK –8,323 M (23,137). Net cash flow for the period was impacted by effects from acquisitions of SEK –5,496 M (–447), dividends to the shareholders of the Parent Company of SEK –1,617 M (–1,524) and the repurchase of own shares of SEK –4,127 M (–3,880). The comparison figures from the preceding year included effects from the divestment of the Group’s tire and printing blanket operations, with an aggregate impact of SEK 26,462 M. Consolidated net debt amounted to SEK –6,735 M at the end of the year.
The debt/equity ratio was 16 percent (–6). Net debt in relation to EBITDA was 0.9 percent (–0.2).
|
SEK M
|
2024 | 2023 | 2022 |
2021
|
| Non-current interest-bearing investments and receivables | 5 | 50 | 47 | 0 |
| Current interest-bearing receivables | 80 | 709 | 429 | 114 |
| Cash and cash equivalents | 2,162 | 10,546 | 4,759 | 3,497 |
| Total interest-bearing assets | 2,247 | 11,305 | 5,235 | 3,611 |
| Interest-bearing non-current liabilities | -5,474 | -5,344 | -9,452 | -9,685 |
| Pension liabilities* | -421 | -326 | -438 | -548 |
| Interest-bearing current liabilities | 3,087 | -2,953 | 16,242 | -1,745 |
| Total interest-bearing liabilities | -8,982 | -8,623 | -26,132 | -11,978 |
| Net debt | -6,735 | 2,682 | -20,897 | -8,367 |
| Change in net debt: | ||||
| Net debt at January 1 | 2,682 | -20,897 | -8,367 | -10,026 |
| Operating cash flow | 5,011 | 4,737 | 5,204 | 4,569 |
| Cash-flow effect of items affecting comparability | -334 | -479 | -306 | -98 |
| Financial items | -365 | -325 | -150 | -199 |
| Tax paid | -1,395 | -1,407 | -1,443 | -962 |
| Free cash flow | 2,917 | 2,526 | 3,305 | 3,310 |
| Acquisitions | -5,496 | -447 | -11,199 | -573 |
| Divested operations | - | 26,462 | 149 | 616 |
| Dividend paid – shareholders of the Parent Company | -1,617 | -1,524 | -1,481 | -1,355 |
| Repurchase of own shares | -4,127 | -3,880 | -3,097 | |
| Net cash flow | -8,323 | 23,137 | -12,322 | 1,969 |
| Exchange rate differences | -959 | 390 | -518 | -446 |
| Lease liabilities** | -72 | 62 | 146 | 70 |
| Pension liabilities** | -63 | -10 | 164 | 66 |
| Net debt at year end | -6,735 | 2,682 | -20,897 | -8,367 |
| Of which: | ||||
| Pension liabilities* | -421 | -326 | -438 | -548 |
| Lease liabilities | -1,851 | -1,606 | -2,215 | -2,102 |
| Net debt excluding impact of lease and pension liabilities | 4,463 | 4,614 | -18,244 | -5,717 |
| Debt/equity ratio, % , Group | 16 | -6 | 56 | 25 |
| Net debt/EBITDA, Group*** | 0.9 | -0.2 | 2.5 | 1.2 |
| Group | ||||
| EBITDA/net interest income, multiples | 22.9 | 32.7 | 29.0 | 29.6 |
| Return on shareholders’ equity, % | 9.0 | 25.4 | 14.9 | 12.0 |
Credit rating
Trelleborg has no official credit rating and has no history of credit rating.