Debt Structure

 

Financial policy

Debt Structure Financial policy Campari Group’s financial policy is geared to maintaining a balanced and prudent structure and limiting the weighted average cost of capital (Group and minority interests). Campari Group’s financial structure must guarantee coverage of future needs both ordinary and extraordinary (takeover opportunities), which requires, in turn, a medium-long term debt structure and sufficient financial resilience based on committed credit lines and new capacity to obtain new credit (thanks to high creditworthiness and numerous banking relationships). Further objective of Campari Group’s financial policy is the limiting of financial risks and in particular foreign exchange and interest rate risks.

 

Debt Structure as of 31 December 2017

Euro million20172016(1)20152014201320122011201020092008
Short-term cash/(debt) 496,9 241.4 423.4 103.0 311.9 336.5 171.8 201.0 96.4 45.5
Medium to long-term cash/(debt) (1,260.3) (1,243.7) (1,244.7) (1,076.9) (1,159.9) (1,196.1) (800.6) (874.5) (710.3) (345.1)
Liabilities for put options and earn-out payments (218.2) (190.0) (4.6) (4.6) (4.8) (10.0) (7.8) (3.4) (16.9) (26.6)
Net cash/(debt) (981.5) (1,192.4) (825.8) (978.5) (852.8) (869.7) (636.6) (677.0) (630.8) (326.2)

 

Notice for users: all the information and data contained in these pages refer to the situation as at 31 December 2017. For quarterly updates, pleas refer to the Results section.

 

(1) After reclassifications to the opening balance sheet as a result of the final purchase price allocation of the Grand Marnier acquisition values

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Last updated Mar 28 2018