TELEPERFORMANCE_Registration_document_2017

CONSOLIDATED FINANCIAL STATEMENTS

7

7.6 Notes to the consolidated financial statements

Note G.4.2

Net financial indebtedness: Schedule of debt maturities

12/31/2017

b

Current Non-current *

12/31/2016

Current Non-current

Bank loans

418 105 480 600 -10

106 105

312

1,314

171

1,143

Commercial paper

b

30

30

b

USPP Bond

b b

480 600

545

b b

545

0

b

Loan issuance expense/premiums & discounts

-4

-6

-8

-7

-1

Cross Currency Interest Swap on loan

5 2 0

5 2 0

b b

17

17

b

Bank overdrafts and advances Due to minority shareholders

3

3

0

0 1

39

39

b

Other borrowing and financial liabilities

11

10

9

8

1

Total financial liabilities

1,611

224

1,387

1,949

261

1,688

Marketable securities

32

32

b b b

7

7

b b b

Cash and bank

253 285 -61

275 282

275 282 -21

253 285

Total cash and cash equivalents

1,667

1,688

NET DEBT

1,326

1,387

* Due after 5byears: €946bmillion.

The Group relies only to a minor extent on finance lease financing and, in consequence, the amount of its finance lease liabilities is not significant (€1.3bmillion and €1.8bmillion at Decemberb31 st , 2017band 2016, respectively).

The Group has also made a payment of €38.5bmillion during the first half of 2017brelating to the balance of deferred consideration due on the acquisition of minority interests.

Note G.4.3 Interest rate risk The Group has an exposure to interest rate risks on its financial liabilities and its short-term liquid investments. The following schedule identifies the amounts subject to interest rate risk:

Subject to interest rate risk 12/31/2016

Subject to interest rate risk

12/31/2017

Net debt

Fixed rate

Fixed rate

Total financial liabilities Cash and cash equivalents

1,611

1,179

432 -285 147

1,949

619

1,330

-285

b

-282

b

-282

NET DEBT

1,326

1,179

1,667

619

1,048

A change of 100bbasis points in the interest rate would have had an impact of €3.3bmillion in 2017band of €9.2bmillion in 2016.

NOTE G.5 Foreign exchange hedging operations Revenues and operating expenses of Group companies may be denominated in a currency other than their functional currency. In order to reduce exposure to exchange rate risk, hedge contracts have been entered into, principally between the following currencies:

The policy of the Group is cover its highly probable forecast transactions denominated in foreign currency, usually up to 12bmonths ahead. The Group uses forward exchange contracts and plain vanilla foreign exchange options. In addition, currency hedges are in place to cover the exchange risk between currencies managed within the cash pool and the euro (in particular the US dollar) as well as certain loans between Teleperformance SE and its subsidiaries.

■ the US dollar and the Mexican peso; ■ the US dollar and the Colombian peso; ■ the Philippine peso and the US dollar;

■ the Colombian peso, the Turkish lira, the Tunisian dinar and the euro.

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Teleperformance bb - bb Registration documentbb 2017