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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
TRADE RECEIVABLES
In millions of euros
2016
2015
Trade receivables
250.7
237.5
Accrued revenue and work-in-progress
83.3
73.3
Gross value
334.0
310.8
Impairment
(13.9)
(12.6)
Carrying amount
320.1
298.2
In 2016, the Group put in place a factoring contract under which the receivables sales concerned meet the derecognition criteria in IAS 39,
“Financial Instruments: Recognition and Measurement”. The factored receivables under this contract represented a net amount of €2.3 million
at 31 December 2016.
ANALYSIS OF CHANGE IN OPERATING WORKING CAPITAL REQUIREMENT
In millions of euros
01/01/2016
Change related
to operations
Other
31/12/2016
Trade receivables (1)
298.2
18.4
3.5
320.1
Amounts owed to customers (2)
(6.0)
(3.0)
(0.2)
(9.2)
Deferred income (2)
(35.2)
(4.7)
(1.2)
(41.1)
WCR – Trade receivables(1+2)
257.0
10.7
2.1
269.8
Trade payables (3)
(55.3)
(7.3)
(3.8)
(66.4)
Supplier prepayments (4)
0.5
0.8
-
1.3
Prepaid expenses (4)
6.3
0.5
-
6.8
WCR – Trade payables (3+4)
(48.5)
(6.0)
(3.8)
(58.3)
Accrued taxes and payroll costs (5)
(180.0)
(6.6)
(0.1)
(186.7)
Other current payables (5)
(1.4)
1.0
(0.5)
(0.9)
Prepaid and recoverable taxes and payroll costs (6)
54.5
4.6
0.1
59.2
Other current receivables
3.4
(0.3)
0.5
3.6
WCR – Other (5+6)
(123.5)
(1.3)
0.0
(124.8)
Total
85.0
3.4
(1.7)
86.7
The amounts in the “Other” column notably include the impact of changes in scope of consolidation and currency effects.
Supplier prepayments, prepaid expenses and other current receivables constitute the “Other receivables” line of the statement of financial position.
Amounts owed to clients, deferred income and other current payables constitute the “Other current liabilities” line of the statement of financial
position.
AGED RECEIVABLES
Credit risk represents the risk of the Group incurring a financial loss if a client fails to fulfil its contractual obligations.
The table below provides a breakdown of late payments for “Trade receivables” as a whole as well as the impairment losses recorded for
disputed receivables and client defaults:
In millions of euros
Gross
Impairment
Gross
Impairment
2016
%
2016
2015
%
2015
Not past due
277.8
83.1%
–
261.3
84.1%
–
Up to 30 days past due
25.0
7.5%
–
19.4
6.2%
–
Between 31 and 60 days past due
6.9
2.1%
–
9.5
3.1%
–
Between 61 and 180 days past due
7.1
2.1%
–
7.8
2.5%
–
More than 181 days past due
17.6
5.2%
13.9
12.8
4.1%
12.6
Total
334.4 100.0%
13.9
310.8 100.0%
12.6
ASSYSTEM
REGISTRATION DOCUMENT
2016
96