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 |
| Gearing | 39% | 15% |
| Equity ratio | 39% | 45% |
| Average maturity of non-current debt | 3.2 years | 3.1 years |
| Average interest rate | 4.6% | 2.6% |
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
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
