Sopra Steria - 2019 Universal registration document
5 2019 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
The sensitivity of the interest rate derivatives portfolio to a plus or minus 50-basis-point change in the euro yield curves at 31 December 2019 is as follows:
-50 bps
+50 bps
P&L impact (hedge ineffectiveness)
P&L impact (hedge ineffectiveness)
Equity impact
Equity impact
(in millions of euros)
Swaps (cash flow hedge) in euros
- - -
- - - - - - -
- - -
- - - - -
Swaps (cash flow hedge) in foreign currency Swaps not eligible for hedge accounting Options eligible for hedge accounting in euros
-0.6
1.8
Options eligible for hedge accounting in foreign currency Options not eligible for hedge accounting in foreign currency
- -
- -
0.1 0.1 1.9
TOTAL
-0.6
1.8
Total impact
-0.6
The total amount of gross borrowings subject to interest rate risk was €365.7 million. Interest rate hedges in force at 31 December 2019, reduced this exposure to €40.7 million. The Group’s residual exposure to interest rate risk is as follows:
Less than one year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
More than 5 years
Rate 31/12/2019
(in millions of euros)
Fixed rate
-
-
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Investment securities
Floating rate Floating rate Fixed rate Floating rate Total financial assets
25.9
25.9
Cash and cash equivalents
171.7
171.7
-
-
197.5
197.5
Financial assets
197.5 -251.6 -161.8
197.5
-
-
-
-
-
Bonds
Fixed rate
-2.3
0.1
0.1
0.1
0.1
-249.7
Bank borrowings Bank borrowings
Floating rate
-22.7
-10.9 -60.5
-10.9
-117.2
- -
- -
Fixed rate
-61.8
-1.3
-
-
NEU CP (commercial paper) & MTN NEU CP (commercial paper) & MTN
Floating rate
-199.0
-185.0
-14.0
-
-
-
-
Fixed rate Fixed rate
-20.0 -12.4
-
- - - - -
-20.0
- - - - -
- - - - -
- - -
-12.4
- - - -
Other financial debt
Floating rate
- -
- - -
Fixed rate
Current bank overdrafts
Floating rate Fixed rate Floating rate Total financial liabilities FIXED RATE FLOATING RATE Fixed-rate payer swaps in euros Fixed-rate payer swaps in foreign currency Fixed-rate payer options
-4.9
-4.9 -3.6
-345.8 -365.7
-72.7 -24.9
0.1
-19.9
0.1
-249.7
-212.6
-10.9
-117.2
-
-
Financial liabilities (gross exposure before hedging) NET EXPOSURE BEFORE HEDGING
-711.4 -345.8 -168.1
-216.2
-97.7 -72.7 -24.9
-10.9
-137.1
0.1
-249.7
-3.6
0.1
-19.9
0.1 -249.7
-15.1
-10.9 -117.2
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Interest rate hedging instruments GROSS EXPOSURE AFTER HEDGING
325.0
-
175.0
-
75.0
75.0
- - - - -
FIXED RATE
-670.8
-3.6 -247.7
0.1
-94.9 -42.2 -94.9 -42.2
-74.9
FLOATING RATE
-40.7 -212.6
150.1
-10.9
75.0
FIXED RATE
-670.8
-3.6 -247.7
0.1
-74.9
NET EXPOSURE AFTER HEDGING
FLOATING RATE
156.9
-15.1
150.1
-10.9
75.0
203
SOPRA STERIA UNIVERSAL REGISTRATION DOCUMENT 2019
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