Sopra Steria - 2018 Registration document

2018 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

At 31 December 2018, the impact of the sale of trade receivables with recourse in France (see Note 7.2) for €68.1 million (€19.8 million at 31 December 2017), as well as that of its tax receivables (which

were not deconsolidated – see Note 7.3) for €12.4 million, were recognised in Other sundry financial debt .

11.4.Derivatives reported in the balance sheet

31/12/2018

Breakdown by class of financial instrument

Assets and liabilities at fair value

Finan- cial liabili- ties at amor- tised cost

Other items not

Financial assets at fair value through OCI

Loans, receivables and other debt

through profit or loss

considered as financial instruments

Carrying amount

Fair value

Deriva- tives

(in millions of euros)

Non-current financial assets

38.9 38.9

- - -

12.2

22.2

- - - - -

4.5

- -

Trade receivables and related accounts

1,091.0 1,091.0 286.8 286.8 170.3 170.3

- - - - - - - - -

1,091.0

-

Other current assets

198.1

3.3

85.4

Cash and cash equivalents FINANCIAL ASSETS

170.3

-

-

-

1,587.0 1,587.0 170.3

12.2 1,311.2

7.9

85.4

Financial debt – Long-term portion

338.3 338.3 99.9 99.9 452.9 452.9 294.9 294.9 1,056.2 1,056.2 2,242.3 2,242.3

- - - - - -

-

338.3

-

- - - -

Other non-current liabilities

97.7

-

2.2

Financial debt – Short-term portion Trade payables and related accounts

-

452.9

- -

294.9 939.8

- -

Other current liabilities FINANCIAL LIABILITIES

0.5 2.7

115.9 115.9

1,332.5 791.2

Items measured at fair value through profit or loss, and derivative hedging instruments, are valued by reference to quoted interbank interest rates (such as Euribor) and to foreign exchange rates set daily by the European Central Bank. All financial instruments in this category are financial assets and liabilities classified as such upon first recognition. Financial debt is recognised at amortised cost using the effective interest rate. Hedging instruments may be put in place to hedge against fluctuations in interest rates by swapping part of the Group’s floating-rate debt for fixed-rate debt.

The Group has entered into and continues to implement transactions designed to hedge its exposure to foreign currency risk through the use of derivatives, including exchange-traded futures and options as well as over-the-counter instruments with top-tier counterparties, as part of its overall risk management policy and due to the substantial scale of its production activities in India and Poland. Derivative financial instruments are recognised at fair value in the consolidated balance sheet. Changes in the fair value of derivatives not qualifying for hedge accounting are recognised directly in profit or loss for the period. Income tax receivables and liabilities are not financial instruments.

The profit and loss impact of these financial instruments is as follows:

31/12/2018

Breakdown by category of instrument

Fair value through profit or loss

Financial assets at fair value through OCI

Loans, receivables and other debt

Liabilities at amortised cost

Profit or loss impact

Derivatives

(in millions of euros)

Total interest income Total interest expense

4.5

- - - -

- - - -

4.5

-

- -

-10.9

- -

-10.9

Remeasurement

-1.4 -7.8

-

-1.4 -1.4

NET GAINS OR LOSSES

4.5

-10.9

155

SOPRA STERIA REGISTRATION DOCUMENT 2018

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