EUR millionQ1 2022 Q1 2021
Interest-bearing net debt207.1180.3
Net debt / EBITDA (LTM)1.040.85
Equity ratio, %54%54%
Net gearing, %26%25%
Cash flow from operating activities before financial items and taxes-55.910.7

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