BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
As of December 31, 2017, regarding the 2018 exposure, the main significant exchange exposure identified relates to EUR/USD for 336 million U.S. dollars. This exposure is 100% hedged as of December 31, 2017 and related cash flows will occur in 2018. Net income and equity sensitivity to a variance of +/-1% EUR/USD on balance sheet items as of December 31, 2017, as defined in IFRS 7, is not considered to be significant for the Group.
As of December 31, 2016, regarding the 2017 exposure, the main significant exchange exposure related to EUR/USD for 381.5 million U.S. dollars. This exposure was 90% hedged as of December 31, 2016 and related cash flows took place in 2017.
Main balance sheet items declared in foreign currencies 24-7 Regarding the balance sheet items, the weight of the different currencies is as follows as of December 31, 2017 for the main non-current items:
Translated from USD
Translated from BRL
Translated from MXN
Translated from INR
Total
EUR
Other
(in thousand euros)
631,083 276,851
Net property, plant and equipment
365,830
72,424 90,514
69,462
45,455
42,418 95,299
35,494
Net goodwill
78,150
7,258
-
5,630
Cash and cash equivalents (excluding bank overdrafts) Employee benefit obligations
188,626
48,830
54,363
9,244
10,150 (3,310)
29,407 (1,957)
36,632
(174,139)
(32,561)
(115,936)
-
(20,375)
RELATED PARTIES NOTE 25
Pursuant to IAS 24, BIC Group considers the following to be related parties: all consolidated subsidiaries (see Note 30); ● all members of the Board of Directors (see Corporate Governance ● – section 3.1.1.1.4. Mandates and duties of the Corporate Officers and Directors as of December 31, 2017) as well as their close relatives;
all companies in which a member of the Board of Directors or of ● the Leadership Team has a significant voting right.
Consolidated subsidiaries 25-1 Transactions between the parent company and its subsidiaries as well as transactions between subsidiaries are eliminated through the consolidation process.
Members of the Board of Directors and of the Leadership Team 25-2 Transactions concluded in 2017 with members of the Board of Directors and of the Leadership Team are as follows:
Net amount in balance sheet
Expenses
(in thousand euros)
Short-term employee benefits
9,117 1,744
2,456
Post-employment benefits
26,280
Other long-term benefits
- - -
- - -
Termination benefits
Share-based payments
TOTAL OF TRANSACTIONS
10,861
28,736
Directors’ fees are not included in the above table and are disclosed under Corporate Governance – section 3.2.2.5. Directors’ fees.
Companies in which a member of the Board of Directors or of the Leadership Team 25-3 has a significant voting right As of December 31, 2017, no such related parties were identified.
218
BIC GROUP - 2017 REGISTRATION DOCUMENT
Made with FlippingBook - Online catalogs