2021 Universal Registration Document

5 2021 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

the liquidity agreement. The risk of a change in value on these investments is negligible. Of the €217.2 million in cash and cash equivalents (excluding current bank overdrafts) at 31 December 2021, €136.6 million Cash and cash equivalents comprise cash, bank demand deposits, other highly liquid investments with maturities not exceeding three months, and bank overdrafts. Bank overdrafts are included in current liabilities as part of Financial debt – Short-term portion. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash, and that are subject to an insignificant risk of changes in value, with the exception of foreign exchange impacts.

was held by the parent company and €80.6 million by the subsidiaries. Among the subsidiaries, entities in India contributed €28.5 million to net cash and cash equivalents at 31 December

2021 (versus €41.5 million at 31 December 2020).

UCITS classified by the AMF (France’s financial markets regulator) as belonging to the “money market fund” and “short-term money market fund” categories are, for practical purposes, presumed to automatically meet all four quoted eligibility criteria. Other cash UCITS cannot be presumed to be eligible for classification as “cash equivalents”: an analysis must be carried out to establish whether or not the four quoted criteria are met. Cash equivalents are recognised at fair value; changes in fair value are charged to profit or loss under Cost of net financial debt .

Financial debt – Net financial debt 12.3.

Current

Non-current

31/12/2021

31/12/2020

(in millions of euros)

Bonds

2.3 8.3

249.5 138.9

251.8 147.2 145.0

251.7 197.0 221.8

Bank borrowings

Other sundry financial debt Current bank overdrafts

85.0

60.0

0.2

-

0.2

0.6

Financial debt

95.8 -25.3

448.4

544.3 -25.3 -191.9 327.1

671.2 -39.4 -206.1 425.6

Short-term investment securities

- -

Cash and cash equivalents NET FINANCIAL DEBT

-191.9 -121.3

448.4

Financial debt essentially comprises the following: bond debt and bank borrowings, initially recognised at fair p value net of transaction costs incurred. Borrowings are subsequently recognised at amortised cost; any difference between the capital amounts borrowed (net of transaction costs) and the amounts repayable is recognised in profit or loss over the duration of the borrowings using the effective interest method; NEU CP short-term negotiable securities, which have a p maturity of less than 12 months and are recognised at amortised cost; Bonds 12.3.1. On 5 July 2019, the Group issued a €250 million bond to top-ranking institutional investors. The bond has two tranches: a 7-year €130 million bond with a fixed annual coupon of 1.749%, and an 8-year €120 million tranche with a fixed annual coupon of 2.0%. In 2014, the Group took out a €1,200 million five-year borrowing facility with two options to extend the expiry date by one year. This facility comprised a €200 million amortising tranche, an £80 million amortising tranche and a €900 million multi-currency revolving credit facility. In 2018, following the exercise of the second one-year extension option, the expiry date was postponed to 6 July 2023. At 31 December 2021, the outstanding amount drawn on the loan was from the single Bank borrowings 12.3.2.

NEU MTN medium-term negotiable securities, which have p maturities spread over one to five years from issuance, and are recognised at amortised cost; current bank overdrafts. p Financial debt repayable within 12 months of the balance sheet date is classified as current liabilities.

euro-denominated amortising tranche (€88 million after contractual amortisation for the period). The sterling-denominated tranche was fully repaid in 2021 (resulting in an outflow of £38.4 million over the period). The €900 million multi-currency revolving credit facility is undrawn. The Group also has two non-amortising bilateral bank facilities: one drawn to €60 million and the other undrawn for €50 million, both maturing in 2024. Other financial debt 12.3.3. In 2015, the Group arranged an unrated multi-currency NEU CP programme of short-term negotiable securities that was not underwritten, in a maximum amount of €700 million. This programme is presented in documentation available on the Banque de France website, which was last updated on 30 June 2021. The average amount outstanding under the NEU CP

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SOPRA STERIA UNIVERSAL REGISTRATION DOCUMENT 2021

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