Worldline - 2020 Universal Registration Document

FINANCIALS Consolidated financial statements

Non-consolidated investments include mainly visa shares for an amount of € 81.5 million as of December 31, 2020 (€ 73.7 million in 2019). Fair value variation of non-consolidated investments is mainly linked to Visa preferred shares for € 7.9 million.

Variation on pension prepayments is linked to SPS Switzerland. Investments in associates mainly relates to the investment in InTouch. Other mainly related to deposit.

Borrowings 6.4

Accounting policies/principles Borrowings

Borrowings are recognized initially at fair value, net of directly attributable debt issuance costs. Borrowings are subsequently measured at amortized cost. The calculation of the effective interest rate takes into account interest payments and the amortization of the debt issuance costs. Debt issuance costs are amortized in financial expenses over the life of the loan through the use of amortized method with the effective interest method. The residual value of issuance costs for loans derecognized is fully expensed as soon as it is probable that the loan maturity is reduced, with respect to the intention to exercise the anticipated refund clause. Bank overdrafts are recorded in the current portion of borrowings.

As at December 31, 2020

As at December 31, 2019

Current Non-current

Total 92.8 562.4

Current

Non-current

Total 24.5

(In € million) Overdrafts

92.8 481.1

24.5 63.1

Other borrowings Convertible bonds

81.3

63.1

1,339.9 2,087.5

1,339.9 2,551.4

557.4 496.8

557.4 496.8

Bonds

463.9

Total borrowings

1,037.8 3,508.7 4,546.5

87.7

1,054.2

1,141.8

E

Current accounts with a short-term maturity – less than one month – have no remuneration. The increase of “Other current Borrowings” is due to Ingenico integration (€ 106.9 million) and to commercial papers.

CHANGE IN NET CASH/(DEBT) OVER THE PERIOD

As at December 31, 2020

As at December 31, 2019

(In € million)

Opening net cash/(debt)

-641.3 -1,767.4 -1,968.7

-35.0

New borrowings: convertibles bonds & bonds

-1,050.9

Business Combination Other borrowings Contingent liability

-310.0

-63.0 117.6

Repayment of long and medium-term borrowings Variance in net cash and cash equivalents

640.5 830.8 85.5 -18.3 -16.5

9.2

378.8

Long and medium-term debt of companies acquired during the period Impact of exchange rate fluctuations on net long and medium-term debt

2.1

Part of interest not paid on Bonds and convertible bonds

Other flows related to financing activities

0.2

Closing net cash/(debt)

-3,165.1

-641.3

273 Universal Registration Document 2020