Debt and financing
In this section you can find information on Valmet's financing structure, financing facilities and interest-bearing debt. Valmet currently has no credit rating.
Key figures
| As at September 30, 2024 | As at September 30, 2023 | |
| Interest-bearing liabilities | EUR 1,750 million | EUR 1,055 million |
| Current debt (including portion of non-current debt) | EUR 207 million | EUR 431 million |
| Non-current debt | EUR 1,386 million | EUR 515 million |
| Net interest-bearing liabilities | EUR 1,057 million | EUR 531 million |
| Average maturity of non-current debt | 2.9 years | 2.9 years |
| Average interest rate | 4.4% | 3.6% |
Key debt ratios
| As at September 30, 2024 | As at September 30, 2023 | |
| Gearing | 43% | 21% |
| Equity ratio | 40% | 46% |
| Net debt to EBITDA ratio | 1.59 | 0.74 |
Debt instruments and credit facilities as at September 30, 2024
- Undrawn committed revolving credit facility of EUR 300 million
- Uncommitted commercial paper program worth of EUR 300 million
Debt maturity structure as at September 30, 2024 (excluding lease liabilities), EUR million
Green Notes
On March 6, 2024, Valmet announced that it issues EUR 200 million green notes. Read more here.
The Finnish Financial Supervisory Authority has approved the listing prospectus of the Notes on March 14, 2024. Read more here.
The listing prospectus can be found here.
Green Finance Framework
Valmet announced on March 1, 2024, that it has established a Green Finance Framework applicable for the issuance of green debt instruments to further integrate its ambitious sustainability targets into its financing.
Valmet’s Green Finance Framework has received an independent second party opinion from ISS ESG, confirming the alignment of the framework with the Green Loan Principles 2023 and the Green Bond Principles 2021.
Links:
Valmet’s Green Finance Framework
ISS ESG’s independent second party opinion
Press release on March 1, 2024: Valmet publishes Green Finance Framework