22. Interest-bearing liabilities

EUR 1,000 2016 2015



Finance lease liabilities, non-current 435 451
Loans from financial institutions, non-current 23,521
Non-current interest-bearing liabilities total 23,956 451



Finance lease liabilities, current 40 48
Loans from financial institutions, current 400 21,781
Credit facility to financing working capital, current
10,000
Current interest-bearing liabilities total 440 31,830



Interest-bearing liabilities total 24,396 32,281






Maturity of the finance lease liabilities




Total of minimum lease less than one year 123 122
Total of minimum lease between one and five years 647 610
Total of minimum lease over five years
61
Total 770 793
Future financial expenses -295 -294
Present value of finance lease liabilities 475 499



Present value of minimum lease less than one year 40 48
Present value of minimum lease between one and five years 435 392
Present value of minimum lease over five years
58
Finance lease liabilities, total 475 499






At the end of the financial year, the company had a payment program related long-term debt EUR 27.9 million (0.0), which consisted of interest-bearing EUR 23.5 million and EUR 4.4 million non-interest bearing liabilities to financial institutions.



Interest-bearing liabilities

The company had in accordance with the payment program of secured interest-bearing liabilities to financial institutions EUR 23.5 million. EUR. At the end of the financial year, the company had in full use EUR 0.4 million short-term loan and finance lease liabilities of EUR 0.4 million.






Non-interest bearing liabilities

The company had according with the amended restructuring programme proposal 30 September 2016, the ordinary restructuring non-interest bearing liabilities to financial institutions EUR 8.8 million and the other external restructuring debts EUR 4.7 million. Half of these debts were write down. After write down, there were the ordinary restructuring non-interest bearing liabilities to financial institutions, EUR 4.4 million and other liabilities to the other creditors of EUR 2.5 million. In accordance with the restructuring program, the parent company had a debt to Group companies EUR 36.7 million, which was written down in full.


The financing agreement signed by Tecnotree in August 2013 included covenants, but they expired after the District Court of Espoo confirmed the restructuring programme on 15 November 2016.