EUR millionH1 2022 H1 2021
Interest-bearing net debt221.7146.0
Net debt / EBITDA (LTM)1.110.65
Equity ratio, %52%56%
Net gearing, %27%19%
Cash flow from operating activities before financial items and taxes-39.957.4

In addition to outstanding loans, Fiskars Group had EUR 250 million of unutilized long-term committed credit facilities. A commercial paper program of EUR 400 million with Nordic banks was partly in use.