BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Impact of interest rate and foreign exchange risk hedging on the consolidated financial statements as of 24-5 December 31, 2018

The following amounts have been booked as the fair value of derivatives as of December 31, 2019 (in thousand euros):

Net financial Income/ (expense) before tax – Note 6

Other comprehensive income before tax  (a)

Hedge income qualification/ hedged risk

Income from operations – Note 4

Derivative instruments and revaluation

Current assets  (b)

Non-current assets

Current Liabilities

Non-current Liabilities

Hedging revaluation impact Commercial flows

Cash flow hedge/Foreign exchange risk Net investment/ Foreign exchange risk

-

(4,608)

(19,411)

5,058

44

(7,346)

(37)

Dividends

- 

-

(3,932)

-

-

(3,930)

-

Subtotal (1)

- 

(4,608)

(23,344)

5,058

44 (11,276)

(37)

Revaluation of cross-currency swaps backed by cash positions in foreign currencies

At fair value through P&L/Foreign exchange risk

249

-

-

231

-

(157)

-

Subtotal (2)

249 

- 

- 

231 

- 

(157) 

- 

TOTAL (1) + (2) (37) This corresponds to mark-to-market of hedging instruments in the portfolio at December 31, 2018, restated for the reversal of the mark-to-market of the portfolio of hedging a) instruments as of December 31, 2017. Including options not yet exercised held by SOCIÉTÉ BIC representing current assets for 928 thousand euros. (b) 249 (4,608) (23,344) 5,289 44 (11,433)

24-6

Portfolio of foreign exchange risk hedges as of December 31, 2019

To cover its future cash flows, the Group had the following hedges as of December 31, 2019:

Purchase of options

Sale of options

Maturity

Hedge

Forward

Currency

Currency

2020

USD/EUR 293,000,000

USD 44,500,000 72,000,000

USD

USD/CAD 12,000,000

USD 14,000,000 20,500,000

USD

USD/AUD 6,500,000

USD 2,000,000

3,000,000

-

USD/JPY

1,000,000

USD

-

-

-

GBP/EUR

9,000,000

GBP 11,000,000 17,000,000

GBP

AUD/EUR 12,000,000

AUD 13,000,000 21,000,000

AUD

CHF/EUR

2,000,000

CHF

2,000,000

3,000,000

CHF

EUR/MXN 7,000,000

EUR

-

-

-

JPY/EUR 900,000,000

JPY 600,000,000 850,000,000

JPY

CAD/EUR 11,000,000

CAD 11,000,000 15,000,000

CAD

NZD/EUR

3,000,000

NZD 4,000,000

6,000,000

NZD

PLN/EUR

-

PLN 37,000,000 54,000,000

PLN

RON/EUR 20,000,000

RON

-

-

-

SEK/EUR 30,000,000

SEK

-

-

-

-

-

-

2021

SEK/EUR

3,000,000

USD

-

-

-

CHF/EUR

1,000,000

CHF

-

-

-

USD/EUR 20,000,000

USD

-

-

-

234

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •