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 March 31, 2024 As at March 31, 2023
Interest-bearing liabilities EUR 1,702 million EUR 792 million
Current debt (including portion of non-current debt) EUR 193 million EUR 171 million
Non-current debt EUR 1,363 million EUR 519 million
Net interest-bearing liabilities EUR 939 million EUR 345 million
Average maturity of non-current debt 3.2 years 3.1 years
Average interest rate 4.6% 2.6%

Key debt ratios

  As at March 31, 2024 As at March 31, 2023
Gearing 39% 15%
Equity ratio 39% 45%
Net debt to EBITDA ratio 1.36 0.49

Debt instruments and credit facilities as at March 31, 2024

  • Undrawn committed revolving credit facility of EUR 300 million
  • Uncommitted commercial paper program worth of EUR 300 million, of which EUR 91 million outstanding

Debt maturity structure as at March 31, 2024 (excluding lease liabilities), EUR million

Valmet maturiteetti

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.


Valmet’s Green Finance Framework

ISS ESG’s independent second party opinion

ESG questionnaire

Press release on March 1, 2024: Valmet publishes Green Finance Framework