Atos - Registration Document 2016

E Financial E.4

Consolidated financial statements

Assumptions retained regarding the presentation of thematurity of non-current borrowings The valuation of financial liabilities has been conducted based on: exchange rates prevailing as of December 31, 2016; and • interest rates presented hereafter. • The effective interest rates in 2016 were as follows:

Carrying value

Fair value Effective interest rate

(In € million)

Bonds

900.0 580.0

900.0 580.0

2.44% 0.48% 2.39%

Bank loans

Finance leases

42.5

42.5

Securitization and Other borrowings

118.1

118.1

-

TOTAL BORROWINGS

1,640.6

1,640.6

Change in net debt over the period

December 31, 2015

December 31, 2016

(In € million)

Opening net cash/(debt)

593.1

989.1 -568.0 -600.0 489.8 279.0

New borrowings

-6.0

Bonds

-300.0

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

49.0

189.5

New finance leases

-4.9

-0.2 -0.3

Long and medium-term debt of companies sold during the period Long and medium-term debt of companies acquired during the period Impact of exchange rate fluctuations on net long and medium-term debt Profit-sharing amounts payable to French employees transferred to debt

-

-18.2

-46.7

-0.3 -0.8

43.6 -0.3

Other flows related to financing activities

-20.1

7.1

Closing net cash/(debt)

481.4

593.1

Fair value and characteristics of financial instruments

Note 23

31 December 2015

31 December 2016

Assets

Liabilities

Assets

Liabilities

(In € million)

Forward foreign exchange contracts Forward interest rate contracts

10.1

-8.9

9.5

-13.4

-

-

-

-

Analysed as:

Non-current

0.1

-1.4 -7.5

1.4 8.1

-4.7 -8.7

Current

10.0

The fair value of financial instruments is provided by banking counterparties.

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