40 JOTUN GROUP MATURITY PROFILE INTEREST-BEARING LIABILITIES AND UNUTILISED CREDIT FACILITIES The maturity profiles of Jotun Group’s interest bearing liabilities and unutilised committed credit facilities are shown in the table below. The Group also has cash pools and bank accounts with short-term credit lines. Unutilised credit lines on these accounts are not included in the table. (NOK THOUSAND) TOTAL < 1 YEAR 1 YEAR 2 YEARS 3 YEARS 4 YEARS > 4 YEARS Gross interest-bearing liabilities 31.12.2016 3 234 454 877 352 313 707 804 302 175 271 572 663 491 160 31.12.2015 3 277 887 954 374 60 905 202 624 802 026 177 886 1 080 071 Unutilised credit facilities 31.12.2016 800 000 – – 400 000 – – 400 000 31.12.2015 800 000 – – – 400 000 – 400 000 NON-CURRENT INTEREST-BEARING DEBT BY CURRENCY The table below display the distribution of Jotun Group’s non-current interest bearing liabilities per currency. 31.12.2016 31.12.2015 CURRENCY CURRENCY (NOK THOUSAND) AMOUNT NOK AMOUNT NOK NOK 1 000 000 1 000 000 1 000 000 1 000 000 USD 125 184 1 077 937 120 449 1 058 317 OMR 9 709 217 181 6 372 145 433 BRL 36 296 96 072 47 242 104 839 Other –34 088 14 923 Total non-current interest-bearing liabilities 2 357 102 2 323 512 LOAN COVENANTS The loan covenants in the Group’s credit facility of NOK 800 million and the NIB bank loan are linked, among other, to the equity ratio (equity / total assets) and the debt ratio (net interest-bearing debt / EBITDA). There are no financial covenants related to the Bonds for the Group or for Jotun A/S. The following covenants apply: (NOK THOUSAND) REQUIRED LEVEL (COVENANT) STATUS YEAR END 2016 Equity ratio Minimum 25% 53% Net debt/EBITDA* Maximum 4.0 0.7 *) EBITDA = Operating Profit before amortisation and depreciation 16 OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES (NOK THOUSAND) 31.12.2016 31.12.2015 Public charges and holiday pay 269 136 274 953 Prepaid dividend 319 716 315 014 Other accrued expenses 833 132 1 056 109 Total current provisions, ref. note 10 292 649 117 653 Total 1 714 634 1 763 731 Other accrued expenses are related to bonuses to employees, agent commissions, sales, marketing and other accrued expenses. 17 SHARE CAPITAL AND SHAREHOLDER INFORMATION The share capital in Jotun A/S at 31 December 2016 consists of the following share classes: (NOK THOUSAND) QUANTITY FACE VALUE BALANCE SHEET A-shares 114 000 300 34 200 B-shares 228 000 300 68 400 Total 342 000 300 102 600 At the annual general meeting, each A-share has ten votes and each B-share has one vote. There are no changes from last year.
Jotun Annual Report 2016
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