Gearing Ratio Excluding Leases and Leverage Ratio (XLSX:) Download Gearing ratio excluding leases In EUR mn (unless otherwise stated) 2020 2019 Δ Bonds 8,869 5,802 53% Other interest-bearing debts 1 2,130 769 177% Debt excluding leases 10,999 6,570 67% Cash and cash equivalents 2 2,869 2,938 (2)% Net debt excluding leases 8,130 3,632 124% Equity 19,899 16,863 18% Gearing ratio excluding leases in % 41% 22% 19 1 Including other interest-bearing debts that were reclassified to liabilities associated with assets held for sale 2 Including cash and cash equivalents that were reclassified to assets held for sale (XLSX:) Download Leverage ratio 1 In EUR mn (unless otherwise stated) 2020 2019 Δ Net debt excluding leases 8,130 3,632 124% Lease Liabilities 2 1,217 1,054 15% Net debt including leases 9,347 4,686 99% Capital employed 3 29,246 21,549 36% Leverage ratio in % 32% 22% 10 1 Defined as net debt including leases-to-capital employed 2 Including lease liabilities that were reclassified to liabilities associated with assets held for sale 3 Equity plus net debt including leases Financial Review of the YearCapital Expenditure (CAPEX) 102-45 gri-id41:102-45
