Financing Strategy
Financing Strategy
Ordina’s financing policy is relatively conservative. Rule of thumb is that the net debt should preferably not exceed the doubled EBITDA figure. At the end of 2011, net debt was EUR 14.4 million, i.e. 0.8 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 an healthy cash position of Ordina.
Debt Profile
Ordina’s equity amounted to EUR 206.7 million at year-end 2011. The Balance Total of EUR 328.2 million meant that equity comprised 63% 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 121.6 million at year-end 2011. Click here for a detailed overview of liabilities from our Consolidated Balance Sheet.