(NOK THOUSAND) 31.12.2019 31.12.2018 Currency Term Due
Non-current interest-bearing debt
Bond 2014-21 400 000 400 000 NOK Fixed rate 3.9 % 2021
Bond 2018-22 750 000 500 000 NOK NIBOR + 0.7 % 2022
Bond 2018-24 650 000 500 000 NOK NIBOR + 0.9 % 2024
Bond 2019-23 600 000 - NOK NIBOR + 0.9 % 2023
Bank debt (NIB), unsecured 569 107 723 274 USD US LIBOR + 1.2 % 2024
Total excl. lease liability 2 969 107 2 123 274
Lease liability 37 534 -
Total 3 006 641 2 123 274
Current interest-bearing debt
Bond 2014-19 - 155 000
Bank debt (NIB), unsecured 162 602 160 728
Other current interest-bearing debt (cash pool) 226 335 122 651
Total excl. lease liability 388 937 438 378
Lease liability 12 852 -
Total 401 789 438 378
Total interest-bearing debt excl. lease liability 3 358 044 2 561 652
Total lease liability 50 386 -
Total interest-bearing debt 3 408 430 2 561 652
Non-current interest-bearing receivables 2 397 867 2 575 091
Current interest-bearing receivables 191 665 315 398
Cash and cash equivalents 724 898 213 813
Total interest-bearing receivables 3 314 430 3 104 302
Net interest-bearing receivables / debt (-) -43 614 542 650
4.2 Cash and cash equivalents
(NOK THOUSAND) 31.12.2019 31.12.2018
Cash deposits 215 872 109 535
Short-term investments 509 026 104 278
Total 724 898 213 813
As of 31 December 2019, Jotun A/S had NOK 1 700 million (2018: NOK 1 300 million) of undrawn
long-term credit facilities available.
4.3 Net financial items
Financial income
(NOK THOUSAND) 2019 2018
Interest income 16 188 11 846
Interest income on loans to Jotun entities 146 547 134 487
Net foreign exchange gain 44 462 -
Other financial income 17 884 16 655
Total 225 081 162 988
Financial costs
(NOK THOUSAND) 2019 2018
Interest costs -94 572 -76 128
Net foreign exchange loss - -52 627
Write down of financial fixed assets, see Note 5.6 -419 500 -211 000
Other financial costs -7 220 -6 046
Total -521 291 -345 801
Net financial items -296 210 -182 814
Exchange gains and losses related to forwards and options have affected the net financial items with the
following amounts:
(NOK THOUSAND) 2019 2018
Unrealised gain / loss (-) 17 752 -27 686
Realised gain / loss (-) -35 953 2 951
4.1 Interest-bearing debt
The table below gives an overview of total net interest-bearing debt. Further information is given in Note
4.1 to the consolidated financial statements.
Back to Notes for the Parent Company
JOTUN A/S
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