Composition of debt at 06/30/2022
During the first half of 2022, the Group's total debt fell by €/000 7,131. Net of the change in right of use financial liabilities and the fair value measurement of financial derivatives to hedge foreign exchange risk and interest rate risk and the adjustment of relative hedged items, as of 30 June 2022 total financial debt of the Group had decreased by €/000 14,894.
Net financial debt of the Group amounted to €/000 397,406 as of 30 June 2022 compared to €/000 380,322 as of 31 December 2021.
The Group credit facilities and loans are unsecured. Certain medium term facilities include financial covenants in line with market practice for borrowers with similar credit standing. The financial covenants calculated based on the most recent relevant financial statements have fully satisfied the thresholds required.