Econocom - 2019 Universal registration document

06 consolidated financial statements

otes to the consolidated financial statements

Trade receivables items are broken down below by business, net of impairment.

31 ژ Dec. 2019

31 ژ Dec. 2018*

Recei- vables invoiced, net of impair- ment

Recei- vables invoiced, net of impair- ment

Outstan- ding rentals

Outstan- ding rentals

in € ڳ millions

Revenue accruals Total

Revenue accruals Total

Technology Management & Financing

354.4 389.6

6.8 750.8 326.3 455.6 10.0 791.9

Digital Services & Solutions

155.8

-

93.8 249.6 232.6

-

158.5 391.1

Total

510.2 389.6 100.6 1,000.4 558.9 455.6 168.5 1,183.0

In accordance with the specifications of the standards, data at 31 December 2018 are not restated for the impact * of the application of IFRS 5 from 1 January 2019 (see 1.1.1.1). The net amounts reclassified at 31 December 2019 as assets held for sale were €59.4 million.

At end-2019, the €389.6 million in portion of the €389.6 million includes not outstanding rentals includes a portion that is only self-funded outstanding rentals but also self-funded or refinanced with recourse for a a portion that will be refinanced, i.e ., when a gross amount of €238.5 million, of which refinancing agreement exists. €162.7 million is non-current. The current

long-term receivables (mainly for the TMF • business) are impaired by taking into account the customer’s risk profile, the value of the underlying assets and a probability of occurrence. Subsequently, if there is serious doubt as to its recoverability, a loss allowance is recognised for the amount that is not recoverable.

Impairment of receivables Initially, receivables are impaired taking into account expected credit losses, if material: short-term receivables (mainly for the DSS • business) are impaired on the basis of an average observed risk of default. This approach is based on the default rates observed individually by each of the Group’s subsidiaries;

Reclassi- fication under assets held for sale

31 ژ Dec. 2018 Additions Reversals

Other changes

31 ژ Dec. 2019

in € ڳ millions

Impairment of doubtful receivables

(57.9)

(17.6)

10.6

(0.6)

1.6 (63.9)

209

2019 annual report