8.    Capital management

As of March 31, 2026 and December 31, 2025 total equity in percent of total assets was 45.1% and 46.1%, respectively, and debt and lease liabilities in percent of total assets was 35.1% and 34.8%, respectively.

For details on the Company’s share buy-back program, see note 2 d).

The Company’s financing structure and business model are reflected in its credit ratings. The Company is rated investment grade by S&P Global, Moody’s and Fitch.

The Company’s current corporate credit ratings and outlooks from the credit rating agencies are provided in the table below:

Rating ⁽¹⁾