RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

RECONCILIATION OF CHANGE IN WORKING CAPITAL WITH THE STATEMENT OF CASH FLOWS

Net carrying amount as of 12/31/2019 Net carrying amount as of 12/31/2018

611,335 582,059 (29,276) 84,865 (7,124) (1,007) (97,354)

CHANGE IN TRADE AND OTHER RECEIVABLES ON THE BALANCE SHEET

Impact of change in the scope of consolidation

Impact of foreign exchange differences

Impact of reclassifications

Reclassification into group of assets held for sale (see note 3.3) Impact of change in called but unpaid capital (in financing) Impact of change in receivables on disposal of assets (in investment)

2,925

908

Impact of changes in other current assets and other receivables due for more than one year CHANGE IN TRADE AND OTHER RECEIVABLES ON THE STATEMENT OF CASH FLOWS

(5,831)

(51,894)

4.5.5 CASH AND CASH EQUIVALENTS

ACCOUNTING POLICIES Cash and cash equivalents include current bank accounts and UCITS units which can be mobilized or sold in the very short term (less than 3 months) and which present no significant risk of change in value, according to the criteria stipulated in IAS 7. These assets are recognized at fair value through profit or loss.

12/31/2019

12/31/2018

(in thousands of euros)

Sicav

27,207 122,697

21,935 122,444

Other funds

Interest receivable

1,824

898

Cash

708,422 860,150

610,692 755,969

TOTAL

Rubis holds 93% of the marketable securities.

Equity risk The Group is not exposed to equity risk, as it does not hold a large equity portfolio.

4.5.6 CREDIT RISK Customer concentration risk Revenue generated with the Group’s largest customer, the top 5 customers and the top 10 customers over the past 2 fiscal years:

2019

2018

Top customer

9%

10% 17% 22%

Top 5 customers Top 10 customers

16% 19%

The Group’s maximum credit risk exposure from trade receivables at the closing date is as follows for each geographic zone:

12/31/2019

Net amount (in thousands of euros)

12/31/2018

Europe

69,150 172,443 220,099 461,692

103,075 195,370 113,134 411,579

Caribbean

Africa

TOTAL

Over both fiscal years, the ratio of trade receivables to sales was less than 10%.

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