The group aims to maintain a strong and flexible capital structure that supports long-term growth, delivers attractive returns to shareholders, and ensures financial resilience.
The group has established a solid long-term financing platform with DNB, Nordea and Danske Bank, consisting of a NOK 1.0 billion term loan and NOK 2.2 billion in revolving credit facilities. The revolving facilities have a maturity profile of 3+1+1 years from March 2026, providing both stability and flexibility. The group maintains disciplined financial management, with quarterly monitoring of covenants. The leverage ratio (net debt / adjusted EBITDA) is capped at 3.5x throughout the agreement period.
Interest rate exposure is actively managed. While parts of the debt carries floating rates, the group has also reduced volatility through hedging. Currently, 60% of the NOK 1.0 billion term loan is hedged with interest rate swaps, with maturities extending to July 2027 and 2030. The management continuously monitors market conditions and adjusts hedging as appropriate.
The board considers the current capital structure to be well balanced, supporting the group’s strategy, maintaining financial flexibility, and managing risk in a prudent manner.