At the beginning of 2010, Schibsted had net interest-bearing debt of NOK 2.5 billion. This was reduced to NOK 1.8 billion during the year.
Schibsted refinanced its borrowing facilities in 2010 and had a loan portfolio that consisted of bond loans, long-term borrowing facilities and other bank loans at the end of 2010. This results in a loan portfolio that is diversified as regards both the lenders and terms to maturity. Most of the Group’s borrowing frameworks are long-term.
Schibsted’s borrowing facilities and bank loans are subject to financial conditions linked to the ratio of net interest-bearing debt to operating profit (EBITDA). This ratio was 0.8 at the end of 2010 and is well within the conditions set for the company’s financial loans and the Group’s financial target figures. The Group’s financial flexibility is considered to be very good and the debt to equity ratio is slightly lower than the target interval of 1-2 x EBITDA.