Econocom - 2020 annual report

06 consolidated financial statements

notes to the consolidated financial statements

Sensitivity of income statement

Contribution to the consolidated financial statements

Sensitivity to a change of:

in € millions

EUR GBP USD PLN Other

Total

+10% (10%)

Revenue from continuing operations

2,407.2 41.4 86.9 14.5

8.7 2,558.7 (13.8)

16.8

Profit (loss) from current operating activities

109.7

0.7

4.8 3.4 1.8 120.4 (1.0)

1.2

Profit

48.3 (0.1)

2.5 2.4 (2.9)

50.2 (0.2)

0.2

Since the subsidiaries’ purchases and sales are mainly denominated in the same currency, this exposure is limited. Econocom group does not deem this risk to be material, but has nevertheless signed a number of foreign exchange hedging agreements to hedgerisks on internal flows. The Group also manages finance lease agreementsdenominated in US dollars in its Technology Management & Financing business. Currency risk is hedged naturally due to the specific way in which these

agreements of movements in the dollar, the impact on profit or loss is not material. INTEREST RATE RISK 19.2.2. Econocom’s operating income and cash flows are substantially independent of changes in interest rates. Sales of leases to refinancing institutions are systematically based on fixed rates. Income arising on these contracts is therefore set at the outset and only varies if the contract is amended. work. Regardless

The table below presents a breakdown of fixed-rate and floating-rate debt:

At 31 December 2020 At 31 December 2019

in € millions

% total

% total debt

Outstanding

debt Outstanding

464.9

74%

531.8

64% 36%

Fixed rate (1)

163.5

26% 296.0 100% 827.8

Floating rate (2)

Gross debt (2) (see note 14.2) 100% Of which the OCEANE convertible bond (issued in March 2018) and all Schuldschein notes: one tranche of (1) the notes (€115 million) bears interest at floating rates; however, an interest rate swap was set up at the outset to convert this floating rate to a fixed rate. Excluding bank overdrafts. (2) 628.3

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2020 annual report