Investors

Restructuring programmes

The implementation of restructuring programmes has proceeded as planned. Componenta Corporation and Componenta Castings Oy’s repayment programmes commenced in 2019 and will end in 2023. In 2019, Componenta Corporation paid the following instalments compliant with the restructuring programme: EUR 0.3 million in May and EUR 0.3 million in November of external restructuring debts, and EUR 0.03 million in May and EUR 0.001 million in November of intra-Group restructuring debts. Similarly, Componenta Castings Oy paid the following instalments compliant with the restructuring programme: EUR 0.5 million in May and EUR 0.5 million in November of external restructuring debts, and  EUR 0.4 million in May and EUR 0.4 million in November of intra-Group restructuring debts.

On 31 December 2019, the Group’s external restructuring debt totalled EUR 12.3 million (31 December 2018: EUR 16.0 million, including EUR 2.5 million of external restructuring debts of Componenta Främmestad AB). 

Repayment schedule for external restructuring debts

MEUR
2020
2021
2022
2023
Total
Componenta Corporation
0.7
0.7
0.7
5.4
7.5
Componenta Castings Oy
0.9
1.0
0.9
1.9
4.7
Total1.71.71.7
7.2*
12.3

*) The larger final instalment in Componenta Corporation and Componenta Castings Oy’s repayment programme is due to the fact that income from the sale of properties not included in core business operations has been taken into account. This income will be used to pay debt at the end of the programme. The final instalment also includes an additional obligation of EUR 3.2 million arising from the expiry of a loan guarantee of EUR 80 million.

Repayment schedule for the intra-Group restructuring debts

MEUR
2020
2021
2022
2023
Total
Componenta Corporation
0.0
0.0
0.0
0.0
0.0
Componenta Castings Oy
0.7
0.7
0.7
1.5
3.6
Total0.70.70.7
1.5
3.6