Debt information

Debt and financing

The objective of Kalmar treasury management is to secure sufficient funding for business operations, avoid financial constraint at all times, provide business units with financial services, minimise the costs of financing, manage financial risks (currency, interest rate, liquidity and funding, credit and counterparty risks as well as operational risks) and to provide management with information on the financial position and risk exposures of Kalmar and its business units.

Key Figures

Net debt

Net debt 30 September 2024, MEUR

Liquidity

Kalmar's liquidity and funding position is strong. Table below illustrates Kalmar’s liquidity position.

Liquidity 30 September 2024, MEUR

Loans from financial institutions 

Kalmar held 300 million euros of loans from financial institutions, which were transferred from Cargotec to Kalmar on the effective date of the demerger.

*Detailed information about the maturities for interest-bearing liabilities can be found from the Demerger and Listing Prospectus.

Average interest rate of interest-bearing liabilities excluding on-balance sheet lease liabilities was 4.9%.

Revolving credit facilities

The revolving credit facility agreements include the following agreements: 

• EUR 100 million revolving credit facility maturing on 2025
• EUR 50 million revolving credit facility maturing on 2027

Covenants

The financing arrangements contain a financial covenant (net debt to equity), which restricts the capital structure. According to the covenant, Kalmar’s net debt to equity must be retained below 125%.

Credit ratings

Kalmar has not applied for a credit rating from any rating agency.