Net debt13

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Net Debt and Equity

in EUR million
Net Debt and Equity (bar and line chart)
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in EUR million

31 Dec 2014

31 Dec 2013

Long-term debt

3,385.0

3,737.7

Short-term borrowings

340.8

232.2

Cash and cash equivalents, short-term investments

−1,032.5

−211.2

Derivative financial instruments for hedging purposes

0.0

0.0

Net debt Telekom Austria Group

2,693.3

3,758.7

Net debt / EBITDA comparable

2.1×

2.9×

Net debt of the Telekom Austria Group fell by 28.3% to EUR 2,693.3 mn in the year under review as a result of the lower level of long-term debt and the increase in cash and cash equivalents following the capital increase. Together with the stable EBITDA comparable, this resulted in an increase of the net debt to EBITDA comparable ratio from 2.9× in the previous year to 2.1× in 2014.

13) As of 31 December 2014 long-term financial investments, instalment sales receivables and financial leasing are no longer included in the calculation of net debt; comparative figures were restated accordingly.

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