8.4.1 Net debt
in PLN millions, unless otherwise stated
|
As at 31 December 2021 |
As at 31 December 2020 |
|
| Bank loans | 703 | 1 965 |
| Loans | 2 198 | 2 377 |
| Debt securities | 2 000 | 2 000 |
| Leases | 574 | 586 |
| Note 7.1 Non-current liabilities due to borrowings | 5 475 | 6 928 |
| Bank loans | 32 | 29 |
| Loans | 370 | 308 |
| Debt securities | 1 | – |
| Leases | 71 | 70 |
| Note 7.1 Current liabilities due to borrowings | 474 | 407 |
| Total borrowings, of which: | 5 949 | 7 335 |
| recognised in liabilities related to the disposal group | 85 | – |
|
recognised as “borrowings, lease and debt securities” |
5 864 |
– |
| Note 8.5 Free cash and cash equivalents | 1 880 | 2 501 |
| Net debt | 4 069 | 4 834 |
Liabilities due to borrowings, debt securities and leases by currency (translated into PLN) and by type of interest rate
|
|
As at 31 December 2021 |
As at 31 December 2020 |
| PLN/WIBOR | 2 133 | 2 119 |
| EUR/EURIBOR | 20 | 26 |
| EUR/fixed | 63 | 42 |
| USD/USD LIBOR | (16) | 1 305 |
| PLN/fixed | 694 | 694 |
| USD/fixed | 3 004 | 3 094 |
| CAD/fixed | 49 | 51 |
| Other | 2 | 4 |
| Total | 5 949 | 7 335 |
As at 31 December 2021, the Group’s liabilities due to borrowing, debt securities issued and leases, translated into PLN, amounted to PLN 5 949 million, or divided into currencies: USD 736 million, PLN 2 827 million, EUR 18 million, CAD 15 million and in other currencies in the amount of PLN 2 million (as at 31 December 2020 liabilities, translated into PLN, amounted to PLN 7 335 million, or divided into currencies: USD 1 171 million, PLN 2 813 million, EUR 15 million, CAD 17 million and in other currencies in the amount of PLN 4 million).
As at 31 December 2021, the balance of trade payables transferred to reverse factoring by the Group amounted to PLN 95 million (as at 31 December 2020: PLN 1 264 million).
Trade payables transferred to reverse factoring are presented in the statement of financial position as “Trade and similar payables” and are in the category of “similar”, as due to the significant judgment of the Group presented in Note 10.4 of these Consolidated financial statements, such a presentation most accurately presents the nature of these transactions.
The structure of debt confirms the effective advancing of the strategy of the Group, aimed at ensuring long term financial stability by basing the financial structure on diversified and long term financing sources.