The Group’s financial structure reflects a policy which is alert to market opportunities and has a prudent allocation of resources as well as careful about refinancing risk. This is reinforced by a comfortable financial leverage, represented by the ratio of financial debt to equity (at 1.16 as of December 31st 2017)  and by an adequate operating leverage expressed as the ratio of financial debt to EBITDA (at 2.32 as of December 31st  2017).

Debt Key ratios

YEARLY
KEY RATIO
31/12/201731/12/201631/12/201531/12/201431/12/201331/12/201231/12/2011
Net Debt / EBITDA2.322.883.043.093.242.221.67

 

QUARTERLY
KEY RATIO
31/12/1730/09/1730/06/1731/03/1731/12/1630/09/1630/06/1631/03/1631/12/1530/09/15
Net Debt / Equity1.161.111.151.341.251.201.171.311.221.17
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