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.
Bekaert has no financial covenants in its financing agreements.
Net debt calculation
| in thousands of € |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
| Non-current interest-bearing debt |
688 244 |
910 074 |
792 116 |
1 161 310 |
1 180 347 |
686 665 |
1 184 310 |
968 076 |
| Value adjustments |
-6 245 |
7 584 |
- |
- |
- |
- |
- |
- |
| Current interest-bearing debt |
321 907 |
441 552 |
494 714 |
297 915 |
454 401 |
942 041 |
424 184 |
641 655 |
|
Total financial debt
|
1 003 906 |
1 359 210 |
1 286 830 |
1 459 225 |
1 634 748 |
1 628 705 |
1 608 495 |
1 609 732 |
| Non-current financial receivables and cash guarantees |
-21 421 |
-19 551 |
-9 694 |
-6 664 |
-6 259 |
-7 332 |
-6 518 |
-7 451 |
| Current loans |
-6 440 |
-13 998 |
-33 185 |
-13 991 |
-8 447 |
-20 186 |
-8 779 |
-7 707 |
| Short-term deposits |
-10 172 |
-14 160 |
-10 216 |
-5 342 |
-50 406 |
-50 036 |
-50 039 |
-50 077 |
| Cash and equivalents |
-391 857 |
-458 542 |
-401 771 |
-365 546 |
-418 779 |
-398 273 |
-566 176 |
-940 416 |
|
Net debt |
574 016 |
852 959 |
831 964 |
1 067 683 |
1 150 857 |
1 152 878 |
976 984 |
604 081 |
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 |
| 2020 |
604 |
473 |
1.3 |
Gearing (net debt to equity) in %
