Sustainability-Linked Bond Framework
Key investment highlights
Well positioned to capitalize
on global megatrends
Robust and well-performing business
segments with attractive market positions
EBITA (EURM)
EBITA margin (%)
Stable profit margin and strong
cash generation over the cycle
Free operating cash flow after
financial items and tax (EURM)
EBITDA before OOI/E
margin (%)
600
20.0%
493
463
465
441
450
401
18.0%
359
17.3%
16.0%
300
16.4%
16.3%
15.8%
15.2%
15.8% 14.0%
150
14.2%
17.4%
10.1%
12.0%
0
10.0%
2017
2018
2019
2020
2021
2022
800
Power Solutions
Climate change
Climate Solutions
600
Power Electronics and Drives
400
200
Electrification
18.7%
14.5%
10.9%
0
2017
2018
2019
2020
2021
2022
Urbanization
Prudent financial policy targeting
2XEBITDA and minimum BBB
Net interest-bearing debt / EBITDA before OOI/E
3.0x
Food & Water Supply
2.0x
1.1x
1.0x
1.0x
1.0x
0.5x
Digitalization
28 Bond Investor Presentation May 2023
Current rating
2.2x
2.0x
S&P Global
Ratings
0.0x
2017
2018
2019
2020
2021
2022
BBB/A-2 with
stable outlook
ENGINEERING TOMORROW
DanfossView entire presentation