Investors - Ensuring sustainable growth

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Debt

Net debt level as of December 31, 2012

End of December 2012, the group net debt¹ amounted to 7,719 million Euros as a result of 14,098 million Euros gross debt minus 6,379 million Euros cash and cash equivalents.

Net debt level as of December 31, 2012
€ million201220112010
Long-term debt10,71912,4996,695
Short-term debt and current portion of long-term debt3,8122,9401,565
Interest rate and currency derivatives used to hedge debt(433)(483)(218)
Total debt14,09814,9568,042
Cash and cash equivalents(6,381)(4,124)(6,465)
Interest rate and currency derivatives used to hedge cash and cash equivalents227-
Debt, net of cash and cash equivalents7,71910,8591,577
 

Gearing ratio²

Gearing ratio

 

 

1. Net debt is a non GAAP measure
2. Debt, net of cash and cash equivalents, to total equity
 

 

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