One51’s debt lowest for six years

Niche investment firm One51 closed 2013 with its lowest net debt levels for more than six years, after slashing its borrowings by nearly €50m.

In a trading update, issued to shareholders yesterday, the environmental, renewable energy and plastics-focused investment company said that last year’s performance “exceeded expectations”. Net debt amounted to around €40m, as of the end of last year, down from €88.9m in 2012.

“From a balance sheet perspective,” the company said in its statement, “both net debt and leverage ratios, at year-end, were at their lowest levels in over six years.”