Reebok 2015 Annual Report Download - page 131

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127
3
GROUP MANAGEMENT REPORT – FINANCIAL REVIEW
Group Business Performance – Treasury
EURO DOMINATES CURRENCY MIX
The vast majority of our Group’s gross borrowings are denominated in euros and US dollars. At the end of
2015, gross borrowings denominated in euros accounted for 80% of total gross borrowings (2014: 80%).
The share of gross borrowings held in US dollars increased to 15% (2014: 12%).
STABLE DEBT MATURITY PROFILE
Over the course of 2015, the Group’s financing maturity profile remained stable. In 2016, assuming
unchanged maturities, debt instruments of € 366 million will mature. This compares to € 288 million
which matured during the course of 2015.
NET DEBT POSITION OF € 460 MILLION
The Group ended the year with a net debt position of € 460 million, compared to a net debt position of
€ 185 million at the end of the prior year, representing an increase of € 275 million. During 2015, we
utilised cash for the second tranche of our share buyback programme in an amount of € 301 million, which
contributed to the higher net debt position.
see Diagram 41
see Diagram 42
see Diagram 45
41CURRENCYSPLITOF GROSS BORROWINGS€ IN MILLIONS
2015 2014
EUR 1,463 1,491
USD 282 218
All others 85 164
Total 1,830 1,873
■
2014
■
2015
42REMAININGTIME TO MATURITYOF GROSS BORROWINGS€ IN MILLIONS
2015 2014
< 1 year 366 288
1 to 3 years 483 594
3 to 5 years ––
> 5 years 981 990
Total 1,830 1,873
■
2014
■
2015