Maturity structure of long-term interest bearing liabilities

The Group had liquid assets of €306.0 million (€169.0 million) on 31 December 2020. Interest-bearing liabilities on 31 December 2020 totalled €2,616.3 million (€3,037.3 million) of which lease liabilities accounted for €2,025.0 million  (€2,422.2 million). Interest-bearing net debt totalled €2,310.3 million (€2,868.4 million), and interest-bearing net debt   excluding lease liabilities totalled €285.3 million (€446.1 million).

  31 Dec. 2019 31 Dec. 2020
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Maturities of financial liabilities and related finance costs                
Borrowings from financial institutions 8.3 327.4 0.2 335.8 1.8 300.2 0.1 302.1
finance costs 3.3 6.3 0.0 9.6 2.1 4.2 0.0 6.3
Pension loans 22.7 98.7 38.8 160.1 28.4 88.7 20.4 137.5
finance costs 2.0 4.8 0.9 7.8 1.8 3.6 0.5 5.8
Lease liabilities 383.3 1,097.3 941.6 2,422.2 312.7 1,005.1 707.2 2,025.0
finance costs 84.7 215.9 100.8 401.3 68.0 168.4 68.7 305.1
Payables to K-retailers 98.0     98.0 123.0     123.0
finance costs                
Other interest-bearing liabilities 12.8 9.0 0.0 21.8 29.4 0.0 0.0 29.4
finance costs 0.4 0.7   1.1 0.0     0.0
Non-current non-interest-bearing liabilities 1.0 3.6 25.2 29.8 0.8 5.4 23.3 29.5
                 
Current non-interest-bearing liabilities                
Trade payables 1,029.9     1,029.9 1,091.3     1,091.3
Accrued expenses 387.6     387.6 405.1     405.1
Other non-interest-bearing liabilities 173.3     173.3 185.3     185.3

 

Financial liabilities in the balance sheet include €14.9 million (€6.8 million) in items related to derivatives, of which €8.7 million will mature within the next 12 months. Lease liabilities are presented in Financial Statements in note 4.6.

 

  31 Dec. 2019 31 Dec. 2020
€ million < 1 year 1-5 years > 5 years Total < 1 year 1-5 years > 5 years Total
Cash flows of derivatives                
Payables                
Foreign currency derivatives 153.8     153.8 207.8     207.8
Interest rate derivatives 1.2 3.7 0.9 5.7 1.7 4.3 0.6 6.6
Electricity derivatives 0.0 0.1 0.0 0.1 1.0 2.0   3.0
                 
Receivables                
Foreign currency derivatives 151.1     151.1 202.2     202.2
Interest rate derivatives 0.1 0.3   0.4  0.1 0.2   0.3 
Electricity derivatives 0.6 0.2   0.9 0.1 1.4   1.5
                 

 
Additional information in the Financial Review for 2020

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