Financial position

EUR million Q1 2021 Q1 2020
Interest-bearing net debt 179.6 331.3
Equity ratio, % 54% 51%
Net gearing, % 25% 44%
Cash flow from operating activities before financial items and taxes 10.7 -37.5

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.