Maturity Profile

Debt Maturity Profile (€m)



Debt Structure

Maturity KPIs

 KPI / criteria  Sep. 30, 2019   Dec. 31, 2018  
 Corporate rating (S&P)  BBB+   BBB+  
 LTV  40.3%   42.8%  
 Net debt/EBITDA multiple1  11.1x   11.4x  
 ICR  4.9x   4.7x  
 Fixed/hedged debt ratio2  97%   96%  
 Average cost of debt2  1.6%   1.8%  
 Weighted average maturity2  8.4   7.8  
 Unencumbered assets  53%   56%  
 KPI / criteria  Sep. 30, 2019   Dec. 31, 2018  
 Corporate rating (S&P)  BBB+   BBB+  
 LTV  40.3%   42.8%  
 Net debt/EBITDA multiple1  11.1x   11.4x  
 ICR  4.9x   4.7x  
 Fixed/hedged debt ratio2  97%   96%  
 Average cost of debt2  1.6%   1.8%  
 Weighted average maturity2  8.4   7.8  
 Unencumbered assets  53%   56%  

1 Adj. net debt annual average over Total EBITDA.
2 Excl. equity hybrid.