Econocom - 2020 annual report

04 risk factors financial risk

For its TechnologyManagement& Financing business, the Group nevertheless has the option of retaining the credit risk on certain strategic transactions. These relate primarily to EconocomDigital Finance Limited (EDFL), the Group’s internal refinancing unit with expertise in transaction security and non-standardcontract financing. At 31 December 2020, contracts on which Econocom bears the credit risk represented €186 million, or around 7% of total outstanding rentals for the Technology Management & Financing business (€235 millionat end-2019).

TheGrouponly investswith investment-grade counterparties, thus limiting its credit risk exposure. Equity risk 4.3. The Group does not hold any unlisted or listed sharesapart fromtreasury shares. As the treasury shares held by Econocom group as of 31 December2020 are deducted fromshareholders’equity in the consolidated financial statementsas of their acquisition, it is not necessary to compare their book value to their actual market value.

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2020 annual report

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