Hiab Debt Investors: Key Figures and Reports | Hiab Financial Information and IR Contacts

Debt investors

Debt Investors

In this section, you can find information about Hiab's financing structure, interest rates, and outstanding debt instruments. For more information, see Reports and Presentations.

Information is updated quarterly.

Key Figures

MEUR	2017	2018	2019	2020	2021	2022	2023	2024	03/2025
Net Debt	472	625	774	682	414	378	179	-186	-261
Gearing	33.1%	43.8%	54.2%	52.4%	26.8%	24.8%	10.2%	-18.1%	-25.7%
Equity/Total Assets	41.4%	40.9%	36.4%	35.3%	40.6%	39.2%	43.8%	47.6%	46.3%
Net Working Capital	115	271	158	103	184	286	329	54	13

^{In 2019, Hiab (at the time Cargotec) adopted the IFRS 16 standard, which affects the comparability of historical net debt and equity ratios.}

Net Debt, March 31, 2025

Type	Amount (MEUR)
Lease Liabilities	79
Bank Overdraft	0
Loans from Financial Institutions	25
Corporate Bonds	150
Other Interest-Bearing Liabilities	17
Liabilities associated with assets held for sale	24
Cash and Cash Equivalents	-387
Financial Assets and Liabilities Held for Sale	-144
Net Debt	-261

Hiab has a syndicated credit limit of 330 MEUR, which matures in December 2028. Currently, the limit is unused.

In addition to general terms, Hiab has a financial covenant in its financing agreements and credit limit (RCF) that restricts its capital structure. According to the covenant, Hiab's equity ratio must remain below 125 percent. As of March 31, 2025, the net debt of Hiab's continuing operations was -117 MEUR and the equity ratio was about -12 percent.

Hiab has not applied for a credit rating from any credit rating agency.

Interest Rates, March 31, 2025

Instrument	Avg. Interest Rate	Book Value (MEUR)	Nominal Value (MEUR)
Corporate Bonds	1.63%	150	150
◦ 2019-2026	1.63%	150	150
Bilateral Bank Loans, Subsidiary External Loans	1.63%	25	25
Cash Pool Overdrafts		0	0

Maturity Profile, March 31, 2025

Instrument (MEUR)	2025	2026	2027	2028	2029	Later
Corporate Loans, Loans from Financial Institutions and Credit Limits	25.0	149.7
Lease Liabilities^*	15.6	16.8	12.4	9.2	6.8	18.3
Other Interest-Bearing Liabilities	4.6	2.4	2.4	2.4	2.4	2.4
Liabilities Related to Assets Held for Sale	4.7	5.1	3.8	2.8	2.1	5.5
Total on Balance Sheet	49.9	174.0	18.6	14.4	11.3	26.2

^* The detailed maturity profile of lease liabilities is reported annually and assessed in interim reports.

Outstanding Debt Instruments

250 MEUR Bonds (maturing 2026)

Cargotec Corporation decided on September 13, 2019, to issue two unsecured bonds with a total nominal value of 250 million euros. The first bond of 100 million euros matured on January 23, 2025, with a fixed annual interest rate of 1.250 percent (ISIN: FI4000399688). The second bond of 150 million euros will mature on September 23, 2026, with a fixed annual interest rate of 1.625 percent (ISIN: FI4000399696). The bond prospectuses for listing on Nasdaq Helsinki Oy are available via the link below.

Bond Prospectuses

150 MEUR Schuldschein Loans (maturing 2023 and 2025)

Cargotec Corporation announced on November 7, 2018, that it had issued a series of Schuldschein loans amounting to 150 million euros. The transaction included floating and fixed-rate tranches with maturities of 5 and 7 years. The Schuldschein loans were targeted at banks and institutional investors, and the proceeds were used for general corporate purposes, including refinancing and acquisitions.