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JOTUN GROUP
CHANGE IN LOAN BALANCE
NON-CASH CHANGES
FOREIGN
OTHER EXCHANGE
(NOK THOUSAND) 2016 CASH (INCL RECLASS) MOVEMENT 2017
Long-term borrowings 2 357 102 –96 963 –150 926 –64 922 2 044 291
Short-term borrowings 877 351 –106 140 320 375 17 587 1 109 173
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 pool 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
31.12.2017 3 153 464 1 109 173 804 107 152 000 552 000 152 000 384 184
31.12.2016 3 234 454 877 352 313 707 804 302 175 271 572 663 491 160
Unutilised credit facilities
31.12.2017 800 000 – 400 000 – 400 000 – –
31.12.2016 800 000 – – 400 000 – 400 000 –
NON-CURRENT INTEREST-BEARING DEBT BY CURRENCY
The table below displays the distribution of Jotun Group’s non-current interest-bearing liabilities per currency.
31.12.2017 31.12.2016
CURRENCY CURRENCY
(NOK THOUSAND) AMOUNT NOK AMOUNT NOK
NOK 1 000 000 1 000 000 1 000 000 1 000 000
USD 101 857 877 069 125 184 1 077 937
OMR 4 855 103 498 9 709 217 181
BRL 24 198 59 959 36 296 96 072
Other – 3 765 – –34 088
Total non-current interest-bearing liabilities 2 044 291 2 357 102
FINANCIAL 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 Group’s equity
ratio (equity / total assets) and the leverage 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 financial covenants apply:
(NOK THOUSAND) REQUIRED LEVEL (COVENANT) STATUS YEAR END 2017
Equity ratio Minimum 25 % 52 %
Net interest-bearing debt/EBITDA* Maximum 4.0 1.1
*) EBITDA = Operating Profit before amortisation, depreciation and impairment