Assystem - 2018 Register document

5

BUSINESS REVIEW AND FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

Net debt corresponds to gross debt (bond debt, other long- and short-term debt and current and non-current financial liabilities and derivatives recorded under current and non-current liabilities) less cash and cash equivalents and derivatives recorded under current and non-current assets. Net debt breaks down as follows:

Maturity schedule

Beyond 5 years

At 31/12/2018

2020

2021

2022 30.0

2023 30.0

2019

In millions of euros Bank borrowings*

59.4

-

- -

- -

-

Sundry financial liabilities

4.1

0.4 0.4

-

-

3.7 3.7

Gross debt

63.5 32.4

-

-

30.0

30.0

Cash and cash equivalents

32.4

- -

- -

- -

- -

- -

Derivatives

Cash, cash equivalents and derivatives recorded under assets

32.4

32.4

- -

- -

-

-

-

Net debt

31.1 (32.0)

30.0

30.0

3.7

* Unamortised borrowing costs of €0.6 million at 31 December 2018 have not been included in the maturity schedule of bank borrowings.

The table below shows a breakdown of net debt by currency, converted at the closing rates:

At 31/12/2018

Euro

Pound sterling

US dollar

Other currencies

In millions of euros

Net debt

31.1

47.4

(3.8)

(7.6)

(4.9)

8.5

Financial income and expenses

NET FINANCIAL EXPENSE ON CASH AND DEBT “Net financial expense on cash and debt” corresponds to all income and expenses arising during the period on items making up net debt, including gains and losses on interest rate and currency hedges on debt. Fair value gains and losses on the above-mentioned categories of financial assets and liabilities are not included in this line in the income statement and instead are recognised in “Other financial income and expenses”.

2018

2017 (0.1) (0.8) (0.9) (1.3) (0.7) (2.7) 0.2

In millions of euros

Bond debt – Ornane and Odirnane Medium – and long-term credit facilities

-

(0.9) (0.9)

Interest expense on debt Income from cash investments

-

Foreign exchange losses

0.3

Other financial income and expenses arising on net debt Net financial expense on cash and debt

(0.8) (1.4)

OTHER FINANCIAL INCOME AND EXPENSES Other financial income and expenses correspond to income and expenses that are non-operational (e.g. financial income arising from the main business of the Company, a subsidiary or a division or financial income associated with a commercial activity) and which are not included in “Net financial expense on cash and debt”. They consist mainly of dividends from non-consolidated companies, impairment of available-for-sale (“AFS”) financial assets, gains and losses on disposals of AFS financial assets, impairment and losses on disposals of other current and non-current financial assets, the effect of discounting provisions, fair value gains and losses on financial assets and liabilities, and miscellaneous financial income and expenses.

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ASSYSTEM

REGISTRATION DOCUMENT 2018

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