BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Bank loans and financial liabilities have the following maturities:

December 31, 2020

December 31, 2019

(in thousand euros)

On demand or within one year

1,157

76,174

In the 2 nd year

-

-

In the 3 rd year

-

-

In the 4 th year

-

4,710

In the 5 th year

2,897

-

After five years

-

-

TOTAL

4,054

80,884

Main bank loans/credit lines and financial liabilities are as follows:

Borrowing country

Euro equivalents

December 31, 2020

Currency

December 31, 2019

(in thousand euros)

France •

EUR

-

75,000

Turkey •

TRY

-

1,042

Kenya •

KES

2,897

4,710

South Korea •

KRW

1,157

-

Other •

-

132

TOTAL

4,054

80,884

Information on interest rates As of December 31, 2020, outstanding loans and credit lines were contracted with floating rates ranging between 11.5% and 14%. The borrowings indicated for France consist exclusively of NeuCP issues, which were issued on average at -0.05%. Relative exposure, deemed not significant, has not been hedged. Information on covenants None of the loans contains any covenant that could trigger early repayment of the debt. The BIC Group has opted to use an incremental borrowing rate for discounting debt. The rate used for each lessee is the rate he would have to pay to borrow, over a similar period and with similar security, the funds necessary to obtain an asset of similar value to the leased asset in a similar economic environment.

The term used at the transition date is the residual term of the contracts.

Lease payment under IFRS 16 in 2020 Lease payments in 2020 in respect of leases falling within the scope of IFRS 16 for an amount of 17 million euros break down as follows: Depreciation: 15.6 million euros; ● Interest: 1.4 million euros. ●

Cash Flows for future years The Group is expected to pay 14.8 million euros in 2021.

Expected total lease payments, in million euros:

2021

14.8

2022

11.1

2023

7.6

2024

6.8

2025

5.5

Beyond 2025

21.4

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •