FINANCING STRUCTURE Q4 2024

Net interest-bearing debt was EUR 188.0 (165.2) million and net debt to comparable EBITDA, rolling 12 months ratio was 3.2 (2.7). The Group’s equity ratio at the end of the review period was 36.9% (34.4%).  

Net financial expenses in January– December totaled EUR -8.5 (-9.3) million. The average interest rate of interest-bearing liabilities, excluding lease liabilities, started to decrease and was 4.8% (5.4%) in December. The net financial expenses were lower in 2024 compared with 2023 due to earn-out adjustments of EUR 1.5 million recognized in the fourth quarter.

The Group’s liquidity position remained strong, cash and cash equivalents stood at EUR 36.4 (30.7) million at the end of the review period. Committed revolving credit facilities, totaling EUR 40 million, were fully unused, as in the comparative period. The revolving credit facilities are maturing in 2027. Aspo’s EUR 80 million commercial paper program was utilized by EUR 5 million at the end of the year 2024.