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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
In millions of euros
31/12/2016
31/12/2015
Cash
41.3
36.2
Cash equivalents
44.1
197.6
Total
85.4
233.8
The term accounts held by the Group correspond to cash equivalents
within the meaning of IAS 7, “Statement of Cash Flows”. No restrictions
have been placed on the use of the Group’s bank accounts.
Most of the term accounts are centralised at the level of Assystem SA.
The buybacks of Ornane and Odirnane bonds were partly financed
by the use of cash investments.
A reconciliation between cash and cash equivalents presented in the consolidated statement of cash flows and the statement of financial position
is shown in the table below.
In millions of euros
31/12/2016
31/12/2015
Cash and cash equivalents
233.8
252.2
Bank overdrafts
(0.4)
(1.7)
Net cash and cash equivalents at beginning of year
233.4
250.5
Cash and cash equivalents
85.4
233.8
Bank overdrafts
(1.0)
(0.4)
Net cash and cash equivalents at year-end
84.4
233.4
8.2 Bond debt and other financial liabilities
Debt and other financial liabilities are initially recognised at fair value less transaction costs, and are subsequently measured at amortised
cost determined using the effective interest method. They are classified as “current” when the Group is required to settle them within
twelve months after the reporting date and as “non-current” when the settlement is due beyond those twelve months.
BOND DEBT
The characteristics of the Odirnane bonds led the Group to initially
recognise them as equity instruments until the successive buybacks
carried out in the second half of 2016 (see Note 2 – Significant
events of the year). The Odirnane bonds still outstanding after these
buybacks – amounting to €14.3 million (including accrued coupons)
– were reclassified under short-term bond debt at 31 December 2016.
All of these bonds were redeemed by 6 March 2017.
In millions of euros
2016
2015
1 January
26.4
25.6
Ornane redemptions
(27.1)
–
Amortised cost
0.8
0.8
Reclassification of outstanding Odirnane bonds
14.0
–
Accrued coupons on outstanding Odirnane bonds
0.3
–
31 December
14.4
26.4
The redemption value of the Ornane bonds corresponds to their face value (excluding the premium paid on their buyback).
ASSYSTEM
REGISTRATION DOCUMENT
2016
109