Plastic Omnium - 2020 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2020 Consolidated financial statements at December 31, 2020 www.plasticomnium.com PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 242 CONTRIBUTIONS PAID IN RESPECT OF DEFINED 5.2.5.8 CONTRIBUTION PLANS Contributions paid in respect of defined contribution plans amounted to €10,196.7 thousand in 2020 compared with €10,027.1 thousand in 2019. Current and non-current borrowings 5.2.6 DEFINITION OF DEBT WITHIN THE GROUP 5.2.6.1 Net debt is an important notion for the day-to-day management of Plastic Omnium’s treasury cash. It is used to determine the Group’s debit or credit position in relation to third parties and outside of the operating cycle. Net debt is determined as: long-term borrowings: ● drawdowns on traditional lines of credit, ● private placement notes, ● bonds; ● minus loans, negotiable debt securities and other long-term financial ● assets (see Note 5.2.6.4 “Loans, negotiable debt securities and other financial assets”); plus short-term loans; ● plus overdraft facilities; and ● minus cash and cash equivalents. ● BORROWINGS: PRIVATE PLACEMENT NOTES AND BONDS 5.2.6.2 During the period On May 29, 2020, Compagnie Plastic Omnium SE repaid the €500 million bond issued on May 21, 2013 to European investors. See Note 2.2.1.3 in “Significant events of the period”. At December 31, 2020 The main terms of the bonds and private placements as at December 31, 2020 are summarized in the following table: December 31, 2020 Schuldscheindarlehen private placement of 2016 Private placement bond issue of June 2017 Schuldscheindarlehen private placement of December 21, 2018 Issue – Fixed rate (in euros) 300,000,000 500,000,000 300,000,000 Interest rate/annual coupon 1.478% 1.25% 1.6320% Investors International (Asian, German, Dutch, Swiss, Luxembourg, Belgian) and French investors European investors International (German, Chinese, Belgian, Swiss, Austrian) and French investors No covenant or rating obligations Maturity June 17, 2023 June 26, 2024 December 21, 2025 BANK LOANS 5.2.6.3 The Group drew down several credit lines totalling €587 million in the first half of 2020 to finance its operations and negotiated €560 million of additional lines of credit with credit institutions. As of December 2020, the €587 million of drown down had been fully repaid. See Note 2.2.1.1 in “Other significant events of the period”. LOANS, NEGOTIABLE DEBT SECURITIES 5.2.6.4 AND OTHER FINANCIAL ASSETS Maturity of the €5 million negotiable medium-term note purchased on February 24, 2015 During the period, the €5 million negotiable medium-term note (NMTN) purchased by the Group on February 24, 2015 matured. Disposal of the €50 million investment in UCITS In addition, the Group sold its investment in UCITS composed of bonds and medium-term cash, with a nominal value of €50 million. See Note 2.2.1.4 “Maturity of NMTN and sale of investments in UCITS of Compagnie Plastic Omnium SE” in “Significant events of the period”. As of December 31, 2020, the Group no longer had any NMTN or UCITS in its financial investments. Changes in the fair value of marketable securities that do not meet the criteria of classification as cash equivalents are recognized in financial income. Completion of of these financial investments impacted the financial net income of the period (Note 4.7) by -€1,506 thousand (including the reversal of impairment for -€197 thousand as recorded in the balance sheet at December 31, 2019). SHORT-TERM BORROWINGS: ISSUANCE OF “NEGOTIABLE EUROPEAN COMMERCIAL PAPER” (NEU-CP) 5.2.6.5 In addition, during the fiscal year 2020, the Group issued “Negotiable European Commercial Paper” (Neu-CP), whose terms are presented in the table below: December 31, 2020 Neu-CP during the period Issuance – fixed rate (in euros) 200,500,000 Terms European investors Maturity Less than 1 year