Enersense has also launched a tight efficiency programme to support profitability. New covenant levels for end of 2024 are equity ratio over 18%, net debt per EBITDA under 6x and liquidity of EUR 5m. Covenants for end of 2025 are equity ratio over 30%, net debt per EBITDA 2.25x and liquidity of EUR 15m. Successful divestments of non-core assets would help a lot and we expect to hear some news before end of the year 2024.
A possible divestment of wind power development portfolio of 5GW could even lead to a positive surprise we believe.
We also expect the company to set new long term financial targets when there is more information regarding divestments and the restructuring process.
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