New Wave Group Annual Report 2022 NWG_Annual_Report_2022_EN | Page 102

NWG // FINANCIAL INFORMATION // THE GROUP

Translation exposure

The Group accounts are also affected by translating the results and net assets of foreign Group companies into SEK . A change of 1 % of the currency exchange rates would impact sales by SEK 50.0 ( 48.0 ) million , calculated on the sales for 2022 where USD and EUR impact the most with SEK 21.4 ( 14.0 ) million and SEK 24.7 ( 18.5 ) million each . Such an effect on the exchange rates would impact closing equity by SEK 41.1 ( 32.2 ) million . The below table displays a sensitivity analysis regarding sales based on the preceding year ' s currency exchange rates , where a translation of this year ' s net sales to the exchange rates of the preceding year would have affected net sales by SEK 617.5 ( 166.6 ) million .

Liquidity risk

Due to the relatively capital-intensive nature of its activities and its expansive growth strategy , New Wave Group has a need to secure its funding . For a growth group like New Wave Group it is essential to ensure that sufficient liquidity is available to fund future expansion and that there is a high degree of flexibility when acquisition opportunities occur . It is also important that a sound balance between equity and financing through debt is kept , which is why New Wave Group ’ s goal is to achieve an equity ratio in excess of 30 %. New Wave Group has a centralized finance function , which means that external borrowing is managed and administered centrally as far as possible . The liquidity generated in the Group is continuously transferred to New Wave Group ’ s treasury center through various pooling systems and reduces the total credit volume . New Wave Group has not made any financial investments .

During the year , the group took out a new long-term loan that runs until and including 2030 . The total credit line as of December 31 amounted to SEK 2,881.2 million , of which SEK 2,766.0 million runs until and including December 2024 , USD 7.0 million until and including January 2024 and SEK 2,510.0 million have a term that extends to and including August 2025 , SEK 207.8 million has a term to and including August 2027 and SEK 200.0 million has a term that extends to and including December 2030 . The other SEK 250.0 million has a term of between three months and five years . The credit facility is limited in amount to and dependent on the value of certain underlying assets . The financing agreement means that key figures ( covenants ) must be met in order to maintain the credit line . The covenants are met as of 31 December 2022 . Based on the current forecast , management deems that the Group will be able to meet these key ratios by a satisfactory margin going forward .

The tables below display the maturity analysis of the amortization of interest-bearing liabilities including contractual and undiscounted interest payments . Any planned future liabilities have not been included . Interest payments related to financial instruments with floating rate have been calculated based on the interest rate at year-end .

SEK million Maturity analysis of New Wave Group ' s loans

The table below displays the maturity for the Group ' s outstanding currency futures och unrealized amounts per year-end , distributed per currency . All contracts mature within twelve months from year-end .

2022 2021

SEK million Maturity analysis of New Wave Group ' s lease liabilities

2022 2021

2024 93.0 111.2

2.4

3.3

102 // ANNUAL REPORT