EXEL industries - 2019 Universal Registration Document

Consolidated fi nancial statements 4

Notes to the consolidated fi nancial statements

Note c 24 Related-party transactions

24.1 Remuneration and bene fi ts paid in c the c fi scal year to corporate o ffi cers of c the c Group Remuneration and bene fi ts are analyzed in Chapter c 6.7.

24.2 Transactions with other related parties As part of the existing cash management agreement between EXEL SAS and EXEL Industries, the Group made payments to or withdrawals from the current fi nancial account; the cash amount of the current fi nancial account totaled €36 c million at September c 30, 2019 and is shown in fi nancial debt (see note c 14); EXEL Industries recorded a net interest expense of €488 c thousand corresponding to 1-month EURIBOR +1.5% for that cash management agreement.

Note c 25 O ff -balance sheet commitments and contingent liabilities

25.1 Guarantees given on fi nancial debt Certainmedium-term loans are guaranteed by pledges on equipment acquired. At September c 30, 2019, the amount of these pledges was not material and represented less than 1% of the gross value of total property, plant and equipment of the Group. The stock in the Minworth Property UK real estate company was pledged as depreciable collateral for a bank loan, the outstanding principal of which was GBP c 9 c million at September c 30, 2019. 25.2 Opening of medium-term credit lines In connection with possible acquisitions, EXEL Industries group’s banks granted it a medium-term credit line.

25.3 Guarantees given None.

25.4 Other commitments To the best of the Group’s knowledge, it has not omitted to disclose any material o ff -balance sheet commitments in accordance with applicable accounting standards.

Note c 26 Liquidity risk

No loans obtained by EXEL Industries from banks provide for prepayment provisions based on covenants. After performing a speci fi c review of its liquidity risk, the Company considers that it has the resources to honor its future payment obligations.

Note c 27 Tax risk

To the best of its knowledge, the Group does not have any tax risks for which provisions have not been recorded.

EXEL Industries Group I 2019 Universal Registration Document

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