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Debt Structure as of December 31, 2022

02/15/2023 - 02:00 PM

IVQ 2022 Results

Reported adjusted gross financial debt: € 31,682 mln

Liquidity Margin - € bln
Out of € 6.32 bln Financial Assets5,00+
Revolving Credit Facility of € 4 bln expiring in May 20264,00=
Liquidity Margin



  • Average debt maturity: 6.51 years (only bond maturity: 6.25 years)
  • Fixed rate portion on gross debt approximately 71%
  • About 32% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 4,4%

NOTE: The figures are net of the adjustment due to the fair value measurement of derivatives and related financial liabilities/assets, as follows:

  • the impact on Gross Financial Debt is equal to 563 €/mln (of which 177 €/mln on bonds)
  • the impact on Financial Assets is equal to 557 €/mln. 

Therefore, the Net Financial Indebtedness is adjusted by -6 €/mln.