Atos - Registration Document 2016

E Financial E.5

Parent company summary financial statements

Risk analysis

Note 18

Market risks: fair value of financial instruments receivable, bank overdraft and trade accounts payable Cash at bank and short termdeposits, trade accounts of their market value as of December 31, 2016. considers that the book value constitutes a reasonable estimate Due to the short term nature of these instruments, the Group Long andmedium term liabilities term liabilities of 470 million related to the syndicated loan. As of December 31, 2016, Atos SE presents a long and medium Liquidity risk On November 6, 2014, Atos signed with a number of major The first option of extension for one year was exercised in 2015 the extension of the Facility maturity date until November 2021. maturing in November 2019 with an option for Atos to request financial institutions a five-year € 1.8 billion credit facility exercised in 2016. Therefore the new maturity of the € and the second option of extension for one year has been 1.8 billion credit facility is November 2021. December 31, 2016, Atos SE used € 470 million on this facility. The facility is available for general corporate purposes. As of Amortization) which may not be greater than 2.5. divided by Operating Margin before Depreciation and under the terms is the consolidated leverage ratio (net debt The revolving credit facility includes one financial covenant which

Securitization program renewed for 5 years on June 18, 2013 with a maximum amount Atos securitization program of trade receivables has been financing of € 200.0 million. of receivables sold of € 500 million and a maximum amount of and OFF: The program is structured with two compartments, called ON receivables are maintained in the Group balance sheet) which Compartment “ON” is similar to the previous program (i.e. the • sold. This compartment was used at its lower level; remains by default the compartment in which the receivables are Compartment “OFF” is designed so the credit risk (insolvency • third party financial institution. the program is fully transferred to the purchasing entity of a and overdue) of the debtors eligible to this compartment of As of December 31, 2016, the Group has sold: recourse, thus re-consolidated in the balance sheet; which € 10 million were received in cash. The sale is with In the compartment “ON” € 257.5 million receivables for • associated with the receivables were transferred. qualify for de-recognition as substantially all risks and rewards In the compartment “OFF” € 41.5 million receivables which • The Group aligned its contractual obligations under this program multicurrency credit facility described above. on the most favourable conditions of the renewable

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