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 June 30, 2024 | As at June 30, 2023 | |
| Interest-bearing liabilities | EUR 1,740 million | EUR 986 million |
| Current debt (including portion of non-current debt) | EUR 206 million | EUR 422 million |
| Non-current debt | EUR 1,387 million | EUR 469 million |
| Net interest-bearing liabilities | EUR 1,094 million | EUR 542 million |
| Average maturity of non-current debt | 3.2 years | 3.1 years |
| Average interest rate | 4.5% | 3.6% |
Key debt ratios
| As at June 30, 2024 | As at June 30, 2023 | |
| Gearing | 45% | 23% |
| Equity ratio | 40% | 45% |
| Net debt to EBITDA ratio | 1.63 | 0.77 |
Debt instruments and credit facilities as at June 30, 2024
- Undrawn committed revolving credit facility of EUR 300 million
- Uncommitted commercial paper program worth of EUR 300 million, of which EUR 2 million outstanding
Debt maturity structure as at June 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