Assystem - 2015 Registration Document

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

Carrying amount at 31/12/2015

Contractual cash flows

Due within 1 year

Due in 1-5 years

Due beyond 5 years

In millions of euros

Bond debt

26.4

29.4

1.1 0.5 0.2

28.3

– – –

Bank borrowings

0.5 0.4 7.5 1.0 0.4

0.5 0.4 7.5 1.0 0.4

–

Finance lease liabilities

0.2

Ornane embedded derivative and sundry financial liabilities Other non-current liabilities

1.1

2.2 1.0

4.2

–

– – – –

Bank overdrafts Trade payables

0.4

– – –

55.3 11.9

55.3 11.9 49.7

55.3 11.9 14.8 85.3

Other current liabilities (1)

–

30.9 62.6

4.0 8.2

Operating leases (2)

TOTAL CONTRACTUAL OBLIGATIONS

103.4

156.1

Carrying amount at 31/12/2014

Contractual cash flows

Due within 1 year

Due in 1-5 years

Due beyond 5 years

In millions of euros

Bond debt

25.6

30.5

1.1 0.1 0.1

29.4

– – – – – – – –

Bank borrowings

0.1 0.3 2.5 2.0 1.7

0.1 0.3 2.5 2.0 1.7

–

Finance lease liabilities

0.2

Ornane embedded derivative and sundry financial liabilities Other non-current liabilities

1.8

0.7 2.0

–

Bank overdrafts Trade payables

1.7

– – –

47.2 17.1

47.2 17.1 51.5

47.2 17.1 17.6 86.7

Other current liabilities (1)

–

28.7 61.0

5.2 5.2

Operating leases (2)

TOTAL CONTRACTUAL OBLIGATIONS

96.5

152.9

(1) Excluding accrued taxes and payroll costs and deferred income. (2) Off-balance sheet commitments.

Early repayment risks arising from covenants The revolving credit facility includes a covenant requiring compliance with a financial ratio (net debt/EBITDA), which had to be less than or equal to 2.75 at 31 December 2015. This ratio is calculated annually

based on the Group’s net debt figure at the end of the year concerned and consolidated EBITDA for that year. If the Group fails to comply with the covenant the lender may demand early repayment of the borrowings. At 31 December 2015, the Group’s net debt/EBITDA ratio was below the ceiling specified in the facility agreement.

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ASSYSTEM

FINANCIAL REPORT 2015