Financial Reporting - Rexel

More documents

Recommendations

Info

At December 31, 2011, the Group’s liquidity amounted to €1,695.6 million (€930.5 million at December 2010). In million of euro Cash and cash equivalents 413.7 Bank overdrafts (82.7) Commercial paper (104.8) Undrawn Senior credit agreement 1,469.4 Other (0.1) Liquidity 1,695.5 The Group’s leverage ratio (adjusted consolidated net debt / adjusted consolidated EBITDA for the previous 12 months) is tested for compliance with the covenant every six months. The limit is as follows: Date 31/12/2011 30/06/2012 31/12/2012 30/06/2013 31/12/2013 30/06/2014 Commitment 4.00x 3.75x 3.50x 3.50x 3.50x 3.50x The indebtedness ratio, as calculated under the terms of the Senior Credit Agreement, stood at 2.40x at the end of December 2011 (vs. 3.19x at end December 2010), well below the applicable covenant limit (4.00x at year-end 2011). (in millions of euros) December 31, 2011 Net debt at closing currency exchange rates 2,078.2 Net debt at average currency exchange rates (A) 2,003.7 LTM EBITDA (1) (B) 836.5 Indebtedness ratio (A)/(B) 2.40 (1) Calculated in accordance with the terms of the senior credit agreement 19
II. Consolidated financial statements This document is a free translation from French to English of <strong>Rexel</strong>’s original consolidated financial statements for the year ended December 31, 2011 and is provided solely for the convenience of English speaking readers. In the event of any ambiguity or discrepancy between this unofficial translation and the original consolidated financial statements for the year ended December 31, 2011, the French version will prevail. 20
Page 1 and 2: Financial information For the year
Page 3 and 4: I. Activity report This document is
Page 5 and 6: 1.1.3 | Impact of changes in copper
Page 7 and 8: 1.2 | Comparison of financial resul
Page 9 and 10: - €6.4 million of net revenue fro
Page 11 and 12: In Southern Europe, sales amounted
Page 13 and 14: In 2011, EBITA rose to €163.7 mil
Page 15 and 16: On a constant basis, the decrease i
Page 17 and 18: 2.1.2 | Cash flow from investing ac
Page 19: 2.2 | Sources of financing of the G
Page 23 and 24: Consolidated Income Statement For t
Page 25 and 26: Consolidated Balance Sheet As of De
Page 27 and 28: Consolidated Statement of Changes i
Page 29 and 30: • Measurement of financial instru
Page 31 and 32: • Recognizes any benefit or defic
Page 33 and 34: to each period during the lease ter
Page 35 and 36: Impairment losses from estimated ir
Page 37 and 38: Effective interest rate The effecti
Page 39 and 40: These provisions also include costs
Page 41 and 42: ights in 2013. On October 7, 2011,
Page 43 and 44: 4. | SEGMENT REPORTING Information
Page 45 and 46: 7. | OTHER INCOME & OTHER EXPENSES
Page 47 and 48: 8. | NET FINANCIAL EXPENSES For the
Page 49 and 50: In 2011, the impact on the income t
Page 51 and 52: • Perpetuity growth rate This gro
Page 53 and 54: Impairment of property, plant and e
Page 55 and 56: As a result of the transfer to the
Page 57 and 58: 14. | SHARE CAPITAL AND PREMIUM 14.
Page 59 and 60: Under this share buy-back program,
Page 61 and 62: The fair value of Rexel’s shares
Page 63 and 64: 16. | EARNINGS PER SHARE Informatio
Page 65 and 66: The change in the present value of
Page 67 and 68: 19. | FINANCIAL LIABILITIES This no
Page 69 and 70: Credit Facility Commitment (in mill
Page 71 and 72:
19.1.3 | Securitization programs Th
Page 73 and 74:
Fair value hedge derivatives The Gr
Page 75 and 76:
20.2 | Foreign exchange risk Forwar
Page 77 and 78:
21. | SUMMARY OF FINANCIAL LIABILIT
Page 79 and 80:
To the best of Rexel’s knowledge,
Page 81 and 82:
26. | CONSOLIDATED ENTITIES AS OF D
Page 83 and 84:
Head office % Interest Luxembourg R
Page 85 and 86:
III. Statutory auditors’ report T
Page 87:
3 Specific verification As required
show all

Financial Reporting - Rexel

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?