Atos - Registration Document 2016
E Financial E.5
Parent company summary financial statements
Provisions
Note 8
Provisions
December 31, 2015
Charges
Release used Release unused December 31, 2016
(in € thousand)
Subsidiary risk Contingencies
37,205 10,142
6,745
-24,126
-
19,824
262
-477
9,927
Litigations
-
-
-
0
TOTAL
47,347
7,007
-24,126
-477
29,751
Of which
operating • financial • exceptional •
257
-
-
257
27,993
6,750
-24,126
-477
-17,853
The evaluation of the participating interest let to a charge and a release mainly for the following subsidiaries: Charge: •
Atos Turkey for € 0,1 million. • Release: • Atos International for € 19.5 million; • Atos Meda for € 4.6 million. •
Atos Management France for € 4.3 million; • Atos Investissement 10 for € 2.4 million; •
Financial borrowings
Note 9
Closing net debt
Gross value December 31, 2015 1,138,162 1,508,675
Gross value December 31, 2016
Up to 1 year
1 to 5 years
Over 5 years
(in € thousand)
Bank overdraft Other borrowings
561,057 488,297
-
-
561,057
962,538
300,000
1,750,835
Total Borrowings
1,049,354
962,538
300,000 2,311,892 2,646,837
Cash at bank
Note 5
440,917
-
440,917
164,970
CLOSING NET DEBT
608,437
962,538
300,000 1,870,975 2,481,867
Financial borrowings included mainly: bond issued in 2015 for € 600 million and 2016 for € • 300 million with accrual interest for a total of € 908.1 million (see highlights 2016); syndicated loan for € 470 million; • intercompany loans for € 366.1 million; • profit-sharing for € 4.3 million; • borrowing EUROFACTOR for € 1.8 million. •
Syndicated loan (2014-2021) On November 6, 2014, Atos signed with a number of major financial institutions a five-year € 1.8 billion credit facility maturing in November 2019 with an option for Atos to request the extension of the Facility maturity date until November 2021. The second option of extension for one year has been exercised in 2016 and the new maturity of the € 1.8 billion credit facility is therefore November 2021. divided by Operating Margin before Depreciation and The revolving credit facility includes one financial covenant which under the terms is the consolidated leverage ratio (net debt Amortization). It cannot be greater than 2.5 times. This facility is used for the general needs of the Group. As of December 31, 2016, Atos SE used € 470 million on this facility.
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