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,…).

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018