Investor Presentaiton
2 CGNI reached its target debt structure in 2021.
Debt structure
CZK bn
60
6
50
40
30
20
10
0
CZK 43.9 bn
2020
Acquisition bank loans
IEUR Senior 1.000% notes
New bank loans
*
KPIs
Net debt/ RAB = 95%
CZK 55.20 bn
•
Net debt/EBITDA = 5.28x
•
FFO net leverage = 6.18x
2021
No financial covenants unless being downgraded to SubIG**
Subordinated shareholder loans maturing in 2044 amounted to ca. 14 bn CZK as of December 31, 2021.
* Calculated based on accounting figures.
** The covenants imposed by banks require the Company to be assigned the credit rating corresponding the investment grade. If the rating would be below the investment one and
the amount of net debt is less than RAB the Group shall repay its bank borrowings immediately.
Maturity profile
Interest rate and FX rate hedge ratios ≥ 85% as of December 31, 2021.
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
■CZK Senior floating rate notes
EUR Senior 0.875% notes
EUR Senior green 0.450% notes
As of December 31, 2021, outstanding, not used Capex and RC commitments amounted to
CZK 1bn resp. CZK 0.5bn
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