Financial position

Development in debt position

The development in the net debt position over 2019 is shown below.

Development in net debt position

The net debt position had risen by €300 million to €2,223 million at year-end 2019 (31 December 2018: €1,907 million). The main components of the net debt are the balance of free cash flow (minus €75 million), the dividend payment and payments to bondholders in 2019 (€158 million), and the independent increase in the debt position as a result of the implementation of IFRS 16 (€64 million). Please see page 124 for further information.

Net debt position

Net debt position
Exception: Object reference not set to an instance of an object. (b73b7d04-0a37-4f91-ab83-e566212d8990)

Alliander has a €3 billion EMTN programme. As at 31 December 2019, the carrying amount of the outstanding bonds was €1,392 million (nominal value €1,400 million). Alliander has an ECP programme totalling €1,500 million which can be used to issue short-term debt instruments. Alliander issued ECP loans at various times during the year; rounded off, €289 million in ECP loans were outstanding at year-end 2019 (year-end 2018: nil).

Interest-bearing debt

The repayment schedule for the interest-bearing debt as at year-end 2018 and 2019 was as follows:

Repayment schedule for interest-bearing debt

The amounts scheduled for repayment in 2022, 2024 and 2026 mainly relate to bond loans. The other amounts relate to the repayment of shareholder loans and other loans.