BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

BORROWINGS AND FINANCIAL LIABILITIES NOTE 16

Current borrowings and financial liabilities

Non-current borrowings and financial liabilities

Bank overdrafts

Obligations under finance leases

Total

(in thousand euros)

At January 1, 2016

4,545

1,974

10

3,702

10,231

Cash flows

22,092

19,824

(4)

(1,214)

40,698

"Non-cash" variations

(305)

34

-

372

101

Variations in obligations under finance • leases

-

-

- -

-

-

Exchange difference •

(305)

34

372

101

At January 1, 2017

26,332

21,832

6

2,860

51,030

Cash flows

(24,674)

(18,487)

(3)

(1,168)

(44,332)

"Non-cash" variations

(1)

(302)

-

(160)

(462)

Variations in obligations under finance • leases

-

-

- - -

-

-

Exchange difference •

(1)

(302)

(160)

(462)

Subsidiary divestiture At December 31, 2017

-

-

(1,156)

(1,156)

1,657

3,044

3

376

5,080

Bank overdrafts are due within one year. The long-term portion of obligations under finance leases is not significant. Bank loans and financial liabilities have the following maturities:

Dec. 31, 2016

Dec. 31, 2017

(in thousand euros)

On demand or within one year

21,832

3,044

In the 2 nd year In the 3 rd year In the 4 th year

-

3

3 3

- -

TOTAL

21,838

3,047

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

Borrowing country

Euro equivalents

Currency

Dec. 31, 2016

Dec. 31, 2017

(in thousand euros)

France • Turkey •

EUR

20,000

-

TRY

564

1,799 1,173

South Korea •

KRW

1,182

Other •

Misc.

92

75

TOTAL

21,838

3,047

As of December 31, 2016 the 20 million euros in borrowings consisted of very short-term financing to ensure the temporary liquidity needs of SOCIÉTÉ BIC.

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BIC GROUP - 2017 REGISTRATION DOCUMENT