Financial position

EUR million Q4 2020 Q4 2019
Interest-bearing net debt 143.7 261.1
Equity ratio, % 57% 56%
Net gearing, % 19% 34%
Cash flow from operating activities before financial items and taxes 89.8 84.7

In addition to outstanding loans, Fiskars Group had EUR 300 million of unutilized long-term committed credit facilities and a commercial paper program of EUR 400 million with Nordic banks.