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E
Financial
E.5
Parent company summary financial statements
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218
Provisions
Note 8
Provisions
(in € thousand)
December
31, 2015
Charges
Release used Release unused
December
31, 2016
Subsidiary risk
37,205
6,745
-24,126
-
19,824
Contingencies
10,142
262
-477
9,927
Litigations
-
-
-
0
TOTAL
47,347
7,007
-24,126
-477
29,751
Of which
operating
•
257
-
-
257
financial
•
27,993
6,750
-24,126
-477
-17,853
exceptional
•
The evaluation of the participating interest let to a charge and a
release mainly for the following subsidiaries:
Charge:
•
Atos Management France for € 4.3 million;
•
Atos Investissement 10 for € 2.4 million;
•
Atos Turkey for € 0,1 million.
•
Release:
•
Atos International for € 19.5 million;
•
Atos Meda for € 4.6 million.
•
Financial borrowings
Note 9
Closing net debt
(in € thousand)
Up to 1 year
1 to 5 years
Over 5 years
Gross value
December
31,
2016
Gross value
December
31,
2015
Bank overdraft
561,057
-
-
561,057
1,138,162
Other borrowings
488,297
962,538
300,000
1,750,835
1,508,675
Total Borrowings
1,049,354
962,538
300,000 2,311,892 2,646,837
Cash at bank
Note 5
440,917
-
440,917
164,970
CLOSING NET DEBT
608,437
962,538
300,000 1,870,975 2,481,867
Financial borrowings included mainly:
bond issued in 2015 for € 600 million and 2016 for €
•
300 million with accrual interest for a total of € 908.1 million
(see highlights 2016);
syndicated loan for € 470 million;
•
intercompany loans for € 366.1 million;
•
profit-sharing for € 4.3 million;
•
borrowing EUROFACTOR for € 1.8 million.
•
Syndicated loan (2014-2021)
On November 6, 2014, Atos signed with a number of major
financial institutions a five-year € 1.8 billion credit facility
maturing in November 2019 with an option for Atos to request
the extension of the Facility maturity date until November 2021.
The second option of extension for one year has been exercised
in 2016 and the new maturity of the € 1.8 billion credit facility is
therefore November 2021.
divided by Operating Margin before Depreciation and
The revolving credit facility includes one financial covenant which
under the terms is the consolidated leverage ratio (net debt
Amortization). It cannot be greater than 2.5 times.
This facility is used for the general needs of the Group.
As of December 31, 2016, Atos SE used € 470 million on this
facility.