Financing Strategy
Financing Strategy
Ordina’s financing policy is relatively conservative. Rule of thumb is that the net debt should not exceed the doubled EBITDA figure. At the end of 2009, net debt was EUR 37,7 million, i.e. 0,9 times the EBITDA.
We manage our working capital stringently. We do our utmost to ensure that debtors pay within 65 days on a continuous basis. This contributes to Ordina’s healthy cash position.
Ordina’s equity amounted to EUR 184,1 million at the end of 2009. The Balance Total of EUR 400,7, million meant that equity comprised 46% of the total assets, a strong solvency position. Strong equity levels ensure the continuity of our business. The minimum equity level that we find acceptable is 25%.
The total for current and non-current liabilities amounted to EUR 216 million at the end of last year. Click here for a detailed overview of liabilities from our Consolidated Balance Sheet.