RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

4.10.4

TRADE AND OTHER PAYABLES (CURRENT OPERATING LIABILITIES)

12/31/2019

12/31/2018

(in thousands of euros)

Trade payables

464,112

347,865 10,106 37,277 90,078

Liabilities on the acquisition of fixed assets and other non-current assets

3,934

Liabilities related to payroll

37,309 87,542

Taxes payable

Expenses payable

88

134

Current accounts (to non-controlling interests)

715

3,595

Miscellaneous operating liabilities

49,556

37,794

TOTAL

643,256

526,849

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

643,256 526,849 116,407 (154,752)

CHANGE IN TRADE AND OTHER PAYABLES ON THE BALANCE SHEET

Impact of change in the scope of consolidation

Impact of foreign exchange differences

9,419

Impact of reclassifications

15,727 49,454 (4,203)

Reclassification to liabilities related to a group of assets held for sale (see note 3.3)

Impact of change in payables on acquisition of assets (in investment)

Impact of the change in dividends payable and accrued interest on liabilities or debts (in financing)

(408)

Impact of change in other current liabilities and other long-term debt

(5,539) 26,105

CHANGE IN TRADE AND OTHER PAYABLES ON THE STATEMENT OF CASH FLOWS

4.10.5 LIQUIDITY RISK Risk related to supplier and subcontractor dependence Group purchases made with the largest supplier, the top 5 suppliers and the top 10 suppliers over the past 2 fiscal years:

2019

2018

Top supplier

7%

11% 36% 49%

Top 5 suppliers Top 10 suppliers

28% 44%

Liquidity risk In the year ended December 31, 2019, the Group used confirmed credit facilities totaling €1,224 million. Given the Group’s net

debt to shareholders’ equity ratio (25%) as of December 31, 2019 and its cash flow, the

ability to draw down these lines is not likely to be put at risk due to a breach of covenants.

Less than 1 year

1 to 5 years

More than 5 years

(in millions of euros)

Repayment schedule

255

1,076

37

At the same time, the Group has €860 million in immediately available cash on the assets side of its balance sheet. The remaining contractual maturities of the Group’s financial liabilities break down as follows (including interest payments):

Book value

Contractual cash flows

Under 1 month

1 to 3 months

3 months to 1 year

1 to 5 years

Over 5 years

Financial liabilities (in thousands of euros)

Total

Borrowings and financial debt

1,130,395 1,157,612

1,109,059

48,553 1,157,612

Deposit/consignment

122,335

122,335

63

437

637

75,751

45,447

122,335

Other non-current liabilities Borrowings and bank overdrafts

4,993

4,993

4,993

4,993

366,881 643,256 17,582

384,034 643,256 17,582

137,857 452,828

30,988 116,741

215,189 68,345 15,039

384,034 643,257 17,582

Trade and other payables Other current liabilities

2,422

2,920

71

2,180

291

TOTAL

2,285,442 2,329,812 590,819 150,346 299,211 1,192,516

96,920 2,329,812

The difference between contractual cash flows and the book values of financial liabilities mainly corresponds to future interest.

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