Plastic Omnium - 2020 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2020 Consolidated financial statements at December 31, 2020 PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 249 Bank counterparty risk 6.3.2 The Group invests its cash surplus with leading banks and/or in highly-rated securities. Liquidity risk 6.4 The Group must at all times have sufficient financial resources to finance the current business and the investments required to support its development, but also to withstand any exceptional events. This objective is mainly achieved by using medium-term lines of credit with banking institutions but also by short-term bank resources. The cash position of the Group is monitored daily for each business division and at central level, and a weekly summary report is submitted to the Group’s Senior management. Other long-term financial receivables – carrying 6.4.1 amounts and undiscounted values Undiscounted values can be reconciled with the information in the table in Note 6.4.2 on “Liquidity risks by maturity”. None at December 31, 2020. Liquidity risk by maturity 6.4.2 Liquidity risk by maturity is calculated on the basis of the undiscounted contractual cash flows of financial assets and liabilities. The liquidity risk analysis shows the following: At December 31, 2020 In thousands of euros December 31, 2020 Less than 1 year 1 to 5 years More than 5 years FINANCIAL ASSETS Non consolidated equity interests 170 - 170 - Long-term investments in equities and funds 8,309 - 8,309 - Other financial assets 9,753 - 9,753 - Finance receivables (1) 6,340 6,340 - - Trade receivables (2) 814,400 813,184 1,216 - Other current financial assets and financial receivables 301 301 - - Hedging instruments 7,625 7,625 - - Cash and cash equivalents 829,989 829,989 - - TOTAL FINANCIAL ASSETS 1,676,887 1,657,439 19,448 - FINANCIAL LIABILITIES Non-current borrowings (3) 1,357,663 - 1,295,567 62,096 Bank overdrafts 12,277 12,277 - - Current borrowings (4) 371,844 371,844 - - Hedging instruments 116 116 - - Trade payables 1,371,750 1,371,750 - - TOTAL FINANCIAL LIABILITIES 3,113,650 1,755,987 1,295,567 62,096 FINANCIAL ASSETS AND FINANCIAL LIABILITIES – NET (5) (1,436,763) (98,548) (1,276,119) (62,096) Undiscounted amounts (see Notes 5.1.8 “Current financial receivables” and 6.4.1 “Other long-term financial receivables”). (1) “Trade receivables” includes €31,145 thousand past due at December 31, 2020 against €63,053 thousand at December 31, 2019. See Note 6.3.1 on (2) “Customer risk”. “Non-current borrowings” includes the amounts reported in the balance sheet and interest payable over the remaining life of the borrowings. (3) “Current borrowings” includes the amounts reported in the balance sheet and interest due within one year. (4) See Note 5.2.6.6 on confirmed medium-term credit lines compared to usage: in 2020 and 2019, the confirmed and unused bank lines amply covered the (5) Group’s cumulative medium-term financing requirements.