Credit facility The Group has the following total credit facility as of December 31, 2022: SEK 500 million. The Group has the following unutilised credit facility as of December 31, 2022: SEK 330 million. Variable interest rate on utilised credit: Stibor plus 1,40 – 2,00 percent, depending on Net Leverage. Fixed interest on unutilised credit: 0.35 percent
Capital management Hemnet's capital structure objective is to achieve a net debt to adjusted EBITDA ratio of less than 2.0x. Hemnet’s capital under management consists of equity. Changes in equity under management are shown in the Group's statement of changes in equity. In order to maintain or adjust the capital structure, the Group may change the dividend paid to the shareholders, repay capital to the shareholders, issue new shares or sell assets to reduce liabilities. The Group assesses its capital needs based, among other things, on its capital structure, which is assessed on the basis of the net debt/adjusted EBITDA ratio and amounts to 0.5 (2.1) at 31 December 2022. Net debt is calculated as total interest-bearing liabilities (comprising the items due to credit institutions and lease liabilities in the consolidated balance sheet) less cash and cash equivalents and short-term investments.
G1 G2 G3 G4 G5 G6 G7 G8 G9
Expires within one year (bank loan) SEK - million Expires after more than one year (bank loan) SEK 277.9 million
The credit facilities can be utilised at any time provided that the covenants in the loan agreement are fulfilled. The table on the next page analyses the Group's financial liabilities broken down by the time remaining on the balance sheet date until the contractual maturity date. The amounts stated in the table are the contractual, undiscounted cash flows.
G10 G11 G12 G13 G14 G15 G16 G17 G18 G19 G20 G21 G22 G23 G24 G25 G26 G27 G28
Maturity of financial liabilities
Total Contractual undiscounted cash flows
Between 3 months and 1 year
Less than 3 months
Between 1 and 2 years
Between 2 and 5 years
More than 5 years
As of December 31, 2022 Financial liabilities Liabilities to credit institutions
Reported value
1.4
4.4
332.0
- - - -
- - - -
337.8
328.5
Leasing liabilities Accounts payable
-
- - -
- - -
-
-
13.5 17.2 32.1
13.5 17.2
13.5 17.2
Other current liabilities
Total
4.4
332.0
-
-
368.5
359.2
Total Contractual undiscounted cash flows
Between 3 months and 1 year
Less than 3 months
Between 1 and 2 years
Between 2 and 5 years
More than 5 years
As of December 31, 2021 Financial liabilities Liabilities to credit institutions
Reported value
1.2
3.7 5.2
5.0 0.0
281.7
- - - -
291.6
277.9
Leasing liabilities Accounts payable
-
- - -
5.2
5.2
12.5 14.0 27.7
- -
- -
12.5 14.0
12.5 14.0
Other current liabilities
Total
8.9
5.0
281.7
-
323.3
309.6
Fair value calculation The following tables shows financial instruments measured at fair value, based on how the classification in the fair value hierarchy was made. The different levels are defined as follows: (a) Level 1 financial instruments Listed prices (unadjusted) in active markets for identical assets or liabilities. (b) Level 2 financial instruments Observable data for the asset or liability other than quoted prices included in level 1, either directly (i.e. as price quotes) or indirectly (i.e. derived from price quotes). (c) Level 3 financial instruments In cases where one or more significant inputs are not based on observable market information, the instrument concerned is classified under level 3.
P1 P2 P3 P4 P5 P6 P7 P8 P9
Financial statements
Hemnet Group | Annual and sustainability report 2022 · 63
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