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  1. Shareholders & Investors
  2. Fixed income and rating

DIA CorporateFixed income and rating

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The financing policy of DIA is outlined in the bullet points:

  • To ensure liquidity with minimum financial expense and optimizing the group’s balance sheet.
  • To distribute to the shareholders from 40% to 50% of the Underlying Net Profit in form of ordinary dividends.
  • Not to exceed, to a reasonable extent and to allow for the potential business opportunities that may arise, a leverage over the reported net debt over 2.0x adjusted EBITDA
  • To implement a strict capex allocation policy, prioritizing organic growth and maximizing returns.
  • To carry out a cautious M&A policy restricted to acquisitions with modest impact on ratios, and limited execution risks.
  • To keep headroom within the existing financial covenants.
  • To maintain a solid investment grade profile.

More than 90% of DIA’s corporate debt is denominated in Euros, while the remaining amount is signed in Brazilian Reais, Argentinean Pesos and Chinese Yuans.

Debt maturity and credit facilities profile

 

Debt structure

 

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