Debt management - Bekaert.com

Debt management



Debt structure

Bekaert manages its debt in a conservative way to guarantee the financial stability of the group over time and under different circumstances on the  financial markets.
Therefore Bekaert has 3 guiding principles to structure the debt:

  1. Net Debt/Ebitda < 2
  2. Gearing  (Net debt/equity) < 50%
  3. Financial Autonomy (Equity/Total Assets) > 40%

Bekaert has no financial covenants in its financing agreements. 

Net debt calculation

in thousands of €  2013 2014  2015  2016  2017   2018 2019 
Non-current interest-bearing debt   688 244 910 074 792 116 1 161 310  1 180 347  686 665  1 184 310 
Value adjustments   -6 245 7 584 -
Current interest-bearing debt   321 907 441 552 494 714 297 915  454 401  942 041  424 184 
Total financial debt   1 003 906 1 359 210 1 286 830 1 459 225  1 634 748  1 628 705  1 608 495 
Non-current financial receivables and cash guarantees   -21 421  -19 551 -9 694 -6 664  -6 259  -7 332  -6 518 
Current loans  -6 440  -13 998 -33 185 -13 991  -8 447  -20 186  -8 779 
Short-term deposits  -10 172  -14 160  -10 216 -5 342  -50 406  -50 036  -50 039 
Cash and equivalents   -391 857  -458 542  -401 771 -365 546  -418 779  -398 273  -566 176 
Net debt   574 016  852 959 831 964  1 067 683  1 150 857  1 152 878  976 984 

 

Net debt on Underlying EBITDA

Chart of the net debt on underlying EBITDA 



     Net debt         Ebitda Net debt/U-Ebitda 
2012  700  274 2.1
2013  574  297 1.8
2014   853  342 2.6
2015  837  441 1.9
2016  1 068 481 2.2
2017  1 151 510 2.3
2018   1 153 387  2.7
2019 977  403   2.1

Gearing (net debt to equity) in %