RUBIS_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS 9

2017 consolidated financial statements and notes

4.10.4 Trade and other payables (current operating liabilities) (in thousands of euros)

12/31/2016

12/31/2017

Trade payables

296,601

204,567 11,516 34,021 73,574

Debt on the acquisition of fixed assets (long-term portion)

8,231

Liabilities related to payroll

36,774 74,426

Taxes payable

Expenses payable

152

121 993

Current accounts (to non-controlling interests)

90

Miscellaneous operating liabilities

41,599 457,873

30,451 355,243

TOTAL

RECONCILIATION OF CHANGE IN WORKING CAPITAL WITH THE STATEMENT OF CASH FLOWS

Net carrying amount as of 12/31/2017 Net carrying amount as of 12/31/2016

457,873 355,243 102,630 (160,750)

CHANGE IN TRADE AND OTHER PAYABLES ON THE BALANCE SHEET

Impact of change in the scope of consolidation

Impact of foreign exchange differences

28,229 17,909

Impact of reclassifications

Impact of change in payables on acquisition of assets (in investment)

3,285

Impact of the change in dividends payable and accrued interest on liabilities or debts (in financing)

(10)

Impact of change in other liabilities (long-term portion)

16,178 7,471

CHANGE IN TRADE AND OTHER PAYABLES ON THE STATEMENT OF CASH FLOWS

4.10.5 Liquidity risk Risk related to supplier and subcontractor dependence Group purchases made with the largest supplier, the top 5 suppliers and the top 10 suppliers over the past 2 fiscal years:

2016

2017

Top supplier

8%

9%

Top 5 suppliers Top 10 suppliers

32% 47%

34% 43%

totaling €1,061.9 million. Given the Group’s net debt to shareholders’ equity ratio (33%) as of December 31, 2017 and its cash flow,

Liquidity risk In the year ended December 31, 2017, the Group used confirmed credit facilities

the ability to draw down these lines is not likely to be put at risk due to a breach of covenants.

Less than 1 year

1 to 5 years

More than 5 years

(in € million)

Repayment schedule

229

1,131

86

At the same time, the Group has €825 million in immediately available cash on the assets side of its balance sheet. The remaining contractual maturities of the Group’s financial liabilities break down as follows (including interest payments):

Financial liabilities (in thousands of euros)

Contractual cash flows

Less than 1 month

1 to 3 months

3 months to 1 year

1 to 5 years

More than 5 years

Book value

Total

Borrowings and financial debt

1,234,252

1,265,908

1,169,869

96,039 1,265,908

Deposit/consignment

103,991

103,991

46

77

721

66,625

36,522

103,991

Other non-current liabilities Borrowings and bank overdrafts

3,461

3,461

3,461

3,461

277,678 457,873 39,461 The difference between contractual cash flows and the book values of financial liabilities mainly corresponds to future interest. 2017 Registration Document I RUBIS 214 292,711 457,873 39,461 82,978 340,569 8,185 201,548 37,317 29,543 Trade and other payables Other current liabilities 60,964 18,654 368 5,415 4,018 472 13 TOTAL 2,116,716 2,163,404 429,008 73,245 269,128 1,259,081

292,711 457,873 39,461

132,942 2,163,404