Our financing strategy aims to support value-adding growth of the Continental Corporation while at the same time complying with an equity and liabilities structure adequate for the risks and rewards of our business.
In general, the gearing ratio should be below 40% in the coming years and not exceed 60% in general. If justified by extraordinary financing grounds or specific market circumstances, we can rise above this maximum level under certain conditions. The equity ratio should exceed 30%.
In the reporting year 2021, it was 35.3% and the gearing ratio 29.8%.
Continental always strives for a balanced maturity profile of its liabilities in order to be able to repay the amounts due each year from free cash flow as far as possible.
The bonds issued in the fourth quarter 2022, in the second quarter of 2020 as well as the bonds issued in the previous year require repayments of €1,250.0 million in 2023, €725.0 million in 2024, €600.0 million in 2025, €750.0 million in 2026 and €625.0 million in 2027.
|Bond||WKN||Volume in Euro||Maturity|
|2023||A2YPE5||500,000,000||September 12, 2023|
|2023||A28XTQ||750,000,000||November 27, 2023|
|2024||A28YEC||625,000,000||September 25, 2024|
|2025||A2YPAE||600,000,000||June 27, 2025|
|2026||A28XTR||750,000,000||August 27, 2026|
|2027||A30VQ4||625,000,000||November 30, 2027|