At the end of 2021, Gaussin had c. €30m in gross debt and €16m in net debt. Of this €30m, €13m was due within a year, €17m between 2-5 years and the remainder after 5 years. By type of borrowing, €22m came from bank borrowings, €2m in lease liabilities, and the remainder in other liabilities. The company also raised about €12m by issuing new shares in June 2022.
Going forward, we expect the company to raise more funds in 2023 to scale up its expansions. This funding is crucial for the company to continue its scaling up and is expected to come from both debt and equity instruments. As these measures will lead to the issuance of new shares, we provisionally allowed for 11.5 new shares issued at €2.7/share (€40m fresh equity).
