28. Financial liabilities
The following table shows the composition of financial liabilities as at December 31:
|
31/12/2024 |
31/12/2023 |
||||||||
|
Currency |
Nominal value |
Carrying amount |
Average effective interest in % |
Currency |
Nominal value |
Carrying amount |
Average effective interest in % |
||
|---|---|---|---|---|---|---|---|---|---|---|
Bond |
|
|
|
|
|
|
|
|
||
Fixed interest |
USD |
650,000 |
608,553 |
7.9 |
EUR |
0 |
0 |
n/a |
||
|
|
|
608,553 |
|
|
|
0 |
|
||
|
|
|
|
|
|
|
|
|
||
Private placements |
|
|
|
|
|
|
|
|
||
Fixed interest |
EUR |
170,500 |
170,345 |
1.5 |
EUR |
290,500 |
290,229 |
1.5 |
||
Floating rate interest |
EUR |
164,000 |
163,864 |
4.9 |
EUR |
219,000 |
218,753 |
4.2 |
||
Floating rate interest |
USD |
0 |
0 |
0.0 |
USD |
65,000 |
58,824 |
1.9 |
||
|
|
|
334,208 |
|
|
|
567,805 |
|
||
|
|
|
|
|
|
|
|
|
||
Bank loans |
|
|
|
|
|
|
|
|
||
Loans: |
|
|
|
|
|
|
|
|
||
Fixed interest |
EUR |
333,175 |
254,725 |
1.6 |
EUR |
474,775 |
353,345 |
1.5 |
||
Fixed interest |
USD |
0 |
0 |
n/a |
USD |
147,200 |
108,439 |
3.3 |
||
Fixed interest |
CNY |
94,000 |
12,330 |
3.6 |
CNY |
117,015 |
14,905 |
4.1 |
||
Floating rate interest |
EUR |
392,152 |
352,777 |
4.8 |
EUR |
311,813 |
256,426 |
2.1 |
||
Floating rate interest |
USD |
350,000 |
313,909 |
8.0 |
USD |
1,000,000 |
816,483 |
6.9 |
||
Operating loans1: |
|
|
|
|
|
|
|
|
||
Floating rate interest |
CNY |
410,000 |
53,782 |
3.1 |
CNY |
390,000 |
49,676 |
3.4 |
||
Floating rate interest |
USD |
21,721 |
20,798 |
6.6 |
USD |
98,254 |
88,619 |
8.1 |
||
|
|
|
1,008,322 |
|
|
|
1,687,892 |
|
||
|
|
|
|
|
|
|
|
|
||
Lease liabilities |
|
|
|
|
|
|
|
|
||
Fixed interest |
EUR |
123,862 |
123,862 |
12.0 |
EUR |
142,107 |
142,107 |
16.9 |
||
|
|
|
123,862 |
|
|
|
142,107 |
|
||
|
|
|
|
|
|
|
|
|
||
Loans from other lenders |
|
|
|
|
|
|
|
|
||
Fixed interest |
EUR |
4,972 |
4,949 |
0.7 |
EUR |
9,926 |
9,790 |
0.7 |
||
Fixed and floating rate interest |
EUR |
28,100 |
28,100 |
0.5 |
EUR |
28,100 |
28,100 |
0.6 |
||
|
|
|
33,049 |
|
|
|
37,890 |
|
||
|
|
|
|
|
|
|
|
|
||
Total |
|
|
2,107,994 |
|
|
|
2,435,694 |
|
||
Thereof current |
|
|
279,449 |
|
|
|
528,992 |
|
||
Thereof non-current |
|
|
1,828,545 |
|
|
|
1,906,702 |
|
||
|
||||||||||
In the reporting year, a bond with a final maturity in January 2032 and a fixed interest rate of 7.950 % was issued. Details about this financing are presented in note 35 and note 37.
Bank loans of EUR 922,462 thousand (December 31, 2023: EUR 924,922 thousand) are secured by pledged property, plant and equipment in the amount of EUR 1,109,094 thousand (December 31, 2023: EUR 758,869 thousand), and biological assets in the amount of EUR 192,217 thousand (December 31, 2023: EUR 204,856 thousand). In addition, the shares in LD Celulose S.A., Indianópolis, Brazil, have been pledged.
Furthermore, of the reported financial liabilities, EUR 20,798 thousand (December 31, 2023: EUR 53,259 thousand) are secured by receivables.
The next interest rate adjustment for the floating rate loans and partially fixed rate loans will take place within the next six months, depending on the loan agreement. The conditions for loans that can be utilized multiple times (revolving loans) are fixed for a certain period and generally carry floating interest rates.
Other loans primarily involve obligations to the Austrian fund for the promotion of research in industry (“Forschungsförderungsfonds der gewerblichen Wirtschaft”) and the ERP fund.