Capital structure

Husqvarna Group’s target is to have a capital structure where seasonally adjusted net debt in proportion to earnings before interest, tax, depreciations and amortizations (EBITDA) is not to exceed 2.5 in the longterm.

This target for financial indebtedness may be adjusted in the event of changes to the macroeconomic situation, or allowed to deviate for a shorter period of time due to acquisitions. Dividend shall normally exceed 40% of the income for the year.

 

Capital structure
SEKm 2016 2015 2014
Net pension liabilities 1,727 1,395 1,835
Other interest-bearing liabilities 7,396 6,952 7,504
Less: liquid funds and other interest-bearing assets -2,290 -1,972 -2,105
Net debt 1) 6,833 6,375 7,234
Net debt, excluding net pension liabilities 5,106 4,980 5,399
EBITDA 4,382 3,980 3,315
Net debt/EBITDA 1.56 1.60 2.18
Total equity 14,365 13,061 12,088
Total assets 32,978 29,669 29,176
Equity/assets ratio 44% 44% 41%
   
1) As reported.