VINCI - 2008 annual report

Consolidated fi nancial statements
22.2 Financing resources and liquidities
At 31 December 2008, the Group’s available resources amounted to €11.8 billion, including €4.8 billion net cash managed and €7 billion of
unused medium-term confi rmed bank credit facilities.
22.2.1 Maturity of fi nancial debt and associated interest payments
The Group’s debt and associated interest payments, on the basis of the interest rates at 31 December 2008, break down as follows, by maturity
date:
234 VINCI __ 2008 ANNUAL REPORT
31/12/2008
Carrying
Capital and
interest cash
Between Between
(in € millions)
Bonds
amount
fl ows Within 1 year 1 and 2 years 3 and 5 years After 5 years
Capital 5,409.5 5,150.0 1,301.8 6.4 10.3 3,831.5
Interest payment cash fl ows
Infl ation-linked loan
2,413.3 241.2 190.4 568.9 1,412.8
Capital 397.9 391.2 391.2
Interest payment cash fl ows
Other bank loans and other fi nancial debt
115.7 15.3 15.3 45.8 39.3
Capital 13,931.1 13,607.6 683.3 1,003.4 5,750.5 6,170.4
Interest payment cash fl ows
Finance lease debt restated
4,765.5 561.4 507.9 1,238.3 2,457.9
Capital 203.9 203.7 55.7 38.4 76.3 33.3
Interest payment cash fl ows 31.7 9.9 7.0 10.9 3.9
Subtotal: long-term borrowing 19,942.4 26,678.7 2,868.6 1,768.8 7,701.0 14,340.3
Commercial paper
Other current fi nancial liabilities 167.3 167.3 167.3
Bank overdrafts 555.1 555.1 555.1
Financial current accounts, liabilities 76.3 76.3 76.3
I - Financial debt 20,741.1 27,477.4 3,667.3 1,768.8 7,701.0 14,340.3
Loans and collateralised fi nancial receivables (2.7)
Financial current accounts, assets (50.0)
Cash management fi nancial assets (288.6)
Cash equivalents (3,813.7)
Cash (1,254.8)
II - Financial assets (5,409.8)
Derivative fi nancial instruments - liabilities 353.2 374.2 61.8 41.8 96.5 174.1
Derivative fi nancial instruments - assets (313.7) (417.2) (58.5) (40.1) (103.3) (215.3)
III - Derivative fi nancial instruments 39.5 (42.9) 3.3 1.7 (6.8) (41.1)
Net fi nancial debt (I + II + III) 15,370.8
Trade payables 6,803.8 6,803.8 6,627.2 43.8 131.2 1.6
At 31 December 2008, the average maturity of the Group’s long-term fi nancial debt was seven years (against 7.2 years at 31 December 2007). It
was 7.9 years for concessions, 2.7 years for the holding companies and 3.6 years for the Group’s other business lines.
Debt repayments due in 2009 (€2.1 billion) will fall in the following periods:
– €0.2 billion in the fi rst quarter of 2009
– €0.1 billion in the second quarter of 2009
– €1.4 billion in the third quarter of 2009
– €0.4 billion in the fourth quarter of 2009.