Aéroport de Paris - 2018 Registration document
FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 20
Changes in loans and financial debt 2018 are as follows:
Changes in consolidation scope
As at 31 Dec., 2018
Other changes
As at 31 Dec., 2017
Increase / subscription 1
Exchange differences
Change in fair value
Repayment 1
(in millions of euros)
Bonds
4,179 1,623
495 501
-
-
8
-
(4)
4,678 2,078
Bank loans
(380)
10
-
317
7
Other loans and assimilated debt Accrued interest Debt (excluding derivatives) Derivative financial instruments (liabilities)
42 67
68
(12)
11
- -
149
(46)
212
145
(120)
(7)
9
4
98
5,911
1,209
(512)
14
8
475
(39)
7,066
54
-
-
(1) 13
(15)
26
(1)
63
TOTAL DEBT
5,965
1,209
(512)
(7)
501
(40)
7,129
1 The increases/subscriptions and repayments excluding derivatives and excluding accrued interests are disclosed in the consolidated cash flow statement respectively under the lines “Proceeds from long-term debt” and “Repayment of long-term debt”.
9.4.2 Net financial debt
to the minority put option, reduced by derivative financial instruments in an asset position, receivables and current accounts from associates, cash and cash equivalents and restricted bank balances.
Net financial debt as defined by Groupe ADP corresponds to the amounts appearing on the liabilities of the balance sheet under the items non-current loans and debts, and current loans and debts, debt related
This net financial debt appears as follows at the closing date:
As at 31 Dec., 2018
Non-current portion
Current portion
As at 31 Dec., 2017
Non-current portion
Current portion
(in millions of euros)
Debt
7,129
5,970 1,159
5,965
5,320
645
Debt related to the minority put option
91
53
38
50
18
32
Gross financial debt
7,220
6,023
1,197
6,015
5,338
677
Derivative financial instruments (assets)
21
17
4
27 90
23
4
Receivables and current accounts from associates
117
72
45
51
39
Cash and cash equivalents Restricted bank balances 1
2,056
- -
2,056
1,912
- -
1,912
84
84
189
189
Net financial debt
4,942
5,934 (992)
3,797
5,264 (1,467)
Gearing
85%
70%
1 Restricted bank balances relate to TAV Airports. Certain subsidiaries, namely TAV İstanbul, TAV Esenboğa, TAV Tunisia, TAV Macedonia, TAV Milas Bodrum, TAV Ege and TAV Holding (“the Borrowers”) opened Project Accounts designated mainly in order to reserve required amount to reimburse project debt or elements defined in the agreements with their lenders (lease payments to DHMI, operational charges, tax,…).
224
AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018
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