SOMFY - Annual Financial Report 2020
05 CONSOLIDATED FINANCIAL STATEMENTS
Analysis by maturity Note 7.2.2.2 € thousands
Secured liabilities Note 7.2.2.5 The Group had no liabilities secured by collateral at 31 December 2020. Covenants Note 7.2.2.6 At 31 December 2020, Somfy SA had a total of €174.0 million undrawn medium-term loan facilities (confirmed credit lines) with seven banks. Funds made available by the credit institutions are subject to Somfy SA commitment to comply with financial covenants based on the Group’s financial structure (net financial debt/shareholder’s equity) and its ability to repay (net financial debt/EBITDA). Somfy SA was in compliance with all of these covenants at 31 December 2020. Somfy SA also had undrawn overdraft facilities totalling €45.0 million at 31 December 2020. Analysis of net financial debt Note 7.2.3
31/12/20 31/12/19
1 year or less
30,817 29,095 11,436 71,348
32,267 32,535 12,495 77,297
Between 1 and 5 years
5 years or more
TOTAL
The maturity profile of non-discounted and discounted minimum payments on leases is as follows:
Undiscounted 2020 liability
Discounted 2020 liability
€ thousands 1 year or less
13,566 28,596 11,972 54,134
12,648 26,757 11,387 50,792
Between 1 and 5 years
5 years or more
The net financial debt is defined in note 4.3.4. € thousands
TOTAL
31/12/20 31/12/19
Financial liabilities included in net financial debt calculation Of which liabilities related to lease – agreements (IFRS 16) Financial assets included in net financial debt calculation
71,348
77,297
Undiscounted 2019 liability
Discounted 2019 liability
€ thousands 1 year or less
50,792
51,998
13,662 29,082 13,215 55,959
12,590 26,963 12,446 51,998
Between 1 and 5 years
142
285
5 years or more
Marketable securities –
–
–
TOTAL
142
285
Loans –
–
–
Miscellaneous –
Analysis by rate Note 7.2.2.3 € thousands
Cash and cash equivalents
588,925
387,547
31/12/20 31/12/19
NET FINANCIAL DEBT
-517,719 -310,535
Variable rate
3,481
4,883
Liabilities related to put options and earnouts RESTATED NET FINANCIAL DEBT
19,137
23,015
Fixed rate
40,537 27,330 71,348
41,091 31,323 77,297
Non-interest bearing
-536,856 -333,550
TOTAL
Net financial surplus. (-)
Non-interest-bearing financial liabilities mainly include put options granted to holders of non-controlling interests and earnouts. Analysis by currency Note 7.2.2.4 € thousands 31/12/20 31/12/19 Euro 33,241 38,027 Other 38,107 39,270 TOTAL 71,348 77,297
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SOMFY – ANNUAL FINANCIAL REPORT 2020
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