Financing sources

VVO Group’s strong financial performance and stable operations ensure the availability of funding. Profitable investment activities require long-term, predictive financial planning. In recent years, VVO’s sources of funding have been diversified with a EUR 100 million secured bond and by increasing the utilisation of the commercial paper programme, among other measures.

In 2015, binding credit limit agreements amounting to EUR 100 million were signed in order to ensure the company’s good liquidity. Strong investment growth in the future will require versatile funding sources. The aim continues to be to broaden the financing base and the selection of financial instruments used. The management of refinancing risk is based on an even distribution of loan maturities. Another important aspect in ensuring funding is to maintain the company’s reputation as a reliable debtor and sustain openness with financiers.

The company seeks optimal solutions for financing its long-term investments.

Structure of debt portfolio

EUR millionSarake 1
Annuity EUR 70.0 million70.0
Market-based EUR 1,006.2 million1006.2
Interest-subsidised EUR 298,7 million298.7
Commercial papers EUR 108.8 million108.8
Other EUR 10.9 million10.9
Liabilities related to non-current assets held for sale EUR 460.7 million460.7

Distribution of long-term loan maturities

EUR million201620172018201920202021202220232024202520262027202820292030-

Equity ratio

fair value %2012201320142015

Loan to Value

VVO Non-subsidised39.141.541.742.7

Quick links:


© VVO Group plc 2015 | Material bank