A world-leading producer of solar panels, Solaris BV, has enjoyed increased demand for its products in recent years. You are a finance professional who has been asked to perform a thorough analysis of Solaris.

Solaris Plc Income Statement at 31 March (EUR millions)	2020	2019
Sales	50.7	33.9
Cost of sales	25.2	15.0
Gross profit	25.5	18.9
Operating expenses	3.30	2.7
Depreciation	0.4	0.4
Operating profit	21.8	15.8
Interest expenses	4.8	2.5
Profit before tax	17.0	13.3
Taxation	2.4	2.7
Net Income	14.6	10.60

Solaris Plc Statement of financial position at 31 March (EUR millions)	2020	2019		2020	2019
Cash and short-term investments	14.4	16.8	Trade payables and other current liabilities	11.1	6.0
Accounts receivable	6.0	3.6	Total current liabilities	11.1	6.0
Inventories	1.20	1.2	Non-current borrowings and bonds	609.0	294.0
Other current assets	0.3	0.3	Total non-current liabilities	609.0	294.0
Total current assets	21.9	21.9	Total liabilities	620.1	300.0
Land	0.3	0.30	Share capital	120.0	120.0
Plant and machinery	738.9	413.7	Retained earnings	21.0	15.90
Total non-current assets	739.2	414.0	Total equity	141.0	135.9
Total assets	761.1	435.9	Total liabilities and equity	761.1	435.9

Your task is to analyse Solaris leverage, focusing on the relationship between debt and the value of the company attributable to shareholders, as well as on cash interest cover. Calculate and interpret the trends including possible reasons.