BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

As of December 31, 2019, regarding the 2020 exposure, the main significant exchange exposure relates to EUR/USD for 350 million U.S. dollars. This exposure is 100% hedged as of December 31, 2019 and related cash flows will occur in 2020.

Net income and equity sensitivity to a variance of +/-1% EUR/USD on balance sheet items as of December 31, 2019, as defined in IFRS 7, is not considered to be significant for the Group. As of December 31, 2018, regarding the 2019 exposure, the main significant exchange exposure related to EUR/USD for 330 million U.S. dollars. This exposure was 100% hedged as of December 31, 2018 and related cash flows took place in 2019.

24-7

Main balance sheet items declared in foreign currencies

Regarding the balance sheet items, the weight of the different currencies is as follows as of December 31, 2019 for the main non-current items:

Translated fromUSD

Translated from BRL

Translated fromMXN

Translated from INR

Total

EUR

Other

(in thousand euros)

Net property, plant and equipment

713,488

389,154

89,407

67,727

53,617

49,354

64,230

Net goodwill

203,705

78,149

96,629

1,033

-

-

27,894

Cash and cash equivalents (excluding bank overdrafts)

198,555

31,216

50,533

27,017

15,383

17,208

57,199

Employee benefit obligations

(179,059)

(33,808)

(129,611)

-

(3,996)

(1,909)

(9,735)

NOTE 25

RELATED PARTIES

Consolidated subsidiaries 25-1 Transactions between the parent company and its subsidiaries as well as transactions between subsidiaries are eliminated through the consolidation process.

Pursuant to IAS 24, BIC Group considers the following to be related parties: all consolidated subsidiaries (see Note 28); ● all members of the Board of Directors (see Corporate ● Governance – section 4.1.1.4. “Mandates and duties of the Corporate Officers and Directors as of December 31, 2019”) as well as their close relatives; all companies in which a member of the Board of Directors or ● of the Executive Committee has a significant voting right.

25-2

Members of the Board of Directors and of the

Executive Committee

Transactions concluded in 2019 with members of the Board of Directors and of the Executive Committee are as follows:

Expenses Net amount in balance sheet

(in thousand euros)

Short-term employee benefits

6,040 

1,963.5 

Post-employment benefits

1,079 

11,938.5 

Other long-term benefits

-

- 

Termination benefits

- 

- 

Share-based payments

- 

- 

TOTAL OF TRANSACTIONS

7,119.0 

13,902.0 

Directors’ remunerations are not included in the above table and are disclosed under Corporate Governance – section 4.2.2.5 Directors’ remunerations.

Companies in which a member of the Board of Directors or of the Executive Committee has a significant 25-3 voting right

As of December 31, 2019, no such related parties were identified.

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •