Debt & ratings
Average cost & maturity of financial debt
| FY24 | FY25 | |
| Average cost (%) | 4.16% | 4.11% |
| Subordinated/Hybrid | 4.24% | 4.19% |
| Senior | 3.51% | 3.51% |
| Average maturity (years) | 4.9 | 4.8 |
| Interest expenses on financial debt (€ Mn) | 493 | 460 |
| Interest Coverage Ratio1 | 14.8x | 17.4x |
Total financial debt (€ m)
1 Calculated as Operating Result divided by Interest expenses on financial debt.
