EUR millionQ3 2021 Q3 2020
Interest-bearing net debt136.4214.0
Equity ratio, %58%51%
Net gearing, %17%29%
Cash flow from operating activities before financial items and taxes51.6115.6

In addition to outstanding loans, Fiskars Group had EUR 300 million of unutilized long-term committed credit facilities and a commercial paper program of EUR 400 million with Nordic banks.