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Financing Strategy

NORMA Group’s objective when it comes to managing its capital is primarily the long-term servicing of its debts and remaining financially stable. In connection with its financing agreements, the Company is obliged to maintain the financial covenant total net debt cover (debt divided by adjusted consolidated EBITDA). This key figure and its maintenance, but also net debt and the maturity structure of financial debt, are continually monitored.

This strategy is derived from the risk management, respectively from the Liquidity risk management. This implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. Due to the dynamic nature of the underlying businesses, Group Treasury maintains flexibility in funding by maintaining availability under committed credit lines.
The Group Treasury activities are part of the Vision 2025 and, in particular, substantial for acquisitions.

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Promissory Notes Volume
383M EUR

as of Dec 31, 2018
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Syndicated Loan Volume
185M EUR

as of Dec 31, 2019
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Leverage
1.9x

as of Dec 31, 2018
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ABS/Factoring/Rev. Factoring
80M EUR

as of Dec 31, 2018

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