The group has consolidated relationships with banks and financial institutions. Its debt is contained and its financial indicators reveal a sound level of equity and well balanced sources and applications of funds.
At 30 September 2019, the ratio of net financial debt to equity attributable to the owners of the parent is 0.36 (30 September 2018: 0.46).
Debt is almost entirely non-current (94.8%, compared with 83.9% at the previous year end). The group’s credit facilities total roughly €95 million; of these, 2% of the bank facilities (approximately €17 million) were used, while roughly 40% of facilities for the factoring of trade receivables were used (approximately €78 million).
Financial debt is analysed in the notes to the consolidated financial statements (see 9.1 NET FINANCIAL DEBT) while additional information on exposure and financial covenants is given in the section on FINANCIAL RISK MANAGEMENT (see 5.3.5 LIQUIDITY RISK).
The group operates with ten Italian banks and three foreign banks (Republic Bank, Wells Fargo and Toronto Dominion).
There are no disputes pending with financial entities.