Investor Presentaiton
Very solid liquidity position and significant reduction in
leverage
Leverage1
Debt maturity profile (EUR m)
800
Hybrid (1st call) ■Schuldschein
* eurofins
3.4x
3.2x
2.5x
Ili
1.6x
700
600
500
400
300
T
400
750
1.0x
447.75
200
300
300
302.25
233.5
100
0
FY2018 FY2019 H1 2020 FY 2020 H1 2021
45.5
175.5
127.5
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
1 Leverage: net debt/ PF12M adjusted EBITDA (corrected for the estimated impact of the cyber-attack in 2019)
Key Highlights
Reduction of close to EUR 500m in corporate senior
gross debt following successful refinancing exercises
Capital management, driving 10% reduction in net debt,
from EUR 2,242m at December 2020 to EUR 2,015m
at the end of June 2021
Leverage ratio significantly decreased to 1.0x at the
end of June 2021, from 1.6x at the end of December
2020 and 2.5x at the end of June 2020
Refinancing exercises carried out in H1 2021 enabled
the Group to secure a €750m Eurobond issued in May
2021 with a 10-year maturity at an annual interest of
0.875% and will bring the average cost of financing to
below 1.8% from H2 2021 onwards
Investment grade credit rating of BBB- with
stable outlook assigned by Fitch Ratings in May 2021
in addition to Moody's similar long-term issuer rating
of Baa3 with stable outlook assigned in July 2020
Overall, at June-end 2021, Eurofins enjoys a strong
liquidity position and a longer debt maturity profile
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