Tendam Brands, the parent company, has decided to repay €190 million of debt, resulting in a significant 20% reduction in interest costs. This repayment is linked to a portion of the €300 million senior secured loan, which was issued with a variable interest rate in October 2022 and was initially set to mature in 2028.
This reduction in annual interest payments by 20% provides Tendam with a significant competitive advantage that will accelerate its growth plans. The group achieved this by using both capital from its treasury and funds from a €180 million green loan obtained in July, which is tied to sustainability goals.
This financial maneuver underscores the confidence of the financial community in Tendam’s quality and performance. It reflects Tendam’s effective financial cost management and the commitment of Tendam and its shareholders to improving debt and credit costs.
For the fiscal year 2022-2023, which concluded on February 28, Tendam Group reported a notable 8.8% increase in sales, reaching €1.211 billion. Additionally, the company’s recurring EBITDA increased to €285 million, marking a 3% rise from the previous fiscal year. The gross margin reached 61.3%, amounting to €741.9 million, which represents a significant €51.1 million increase from the prior year. This robust financial performance underscores Tendam’s dedication to financial stability and growth prospects
