Mon 12/20/2021 10:33 AM
Hilding Anders managed to pass its September 5.95x net leverage covenant with 0.3x headroom, helped by a sizable working capital release, sources told Reorg.
However, the reversal of the working capital flow and another slight earnings miss in October has eliminated the Sweden-based mattress producer’s headroom, while the covenant leverage test steps down to 5.25x again in December, making a year-end breach all but certain, sources told Reorg.
The group grew sales to €102.1 million...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.