Financial position

  2020 2019
Liquid asset, €m 306.0 169.0
Interest-bearing liabilities, € million 2,616.3 3,037.3
Lease liabilities, € million 2,025.0 2,422.2
Interest-bearing net debt excluding lease liabilites, €m 285.3 446.1
Interest-bearing net debt/EBITDA, excl. IFRS 16 impact, rolling 12 months 0.4 0.9 
Gearing, % 105.5 134.0
Equity ratio, % 33.1 31.2
     
  2020 2019
Capital expenditure, €m 398.4 686.1
Capital expenditure,% net sales 3.7 6.4
Cash flow from operating activities, €m 1,152.4 893.1
Cash flow from investing activities, €m -413.7 -620.3

 

Kesko has no outstanding bonds. 

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