REGISTRATION DOCUMENT AND FINANCIAL REPORT - Iliad

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20. FINANCIAL INFORMATION CONCERNING THE COMPANY’S ASSETS AND LIABILITIES, FINANCIAL POSITION AND PROFITS AND LOSSES 20.1 CONSOLIDATED FINANCIAL STATEMENTS FOR 2007, 2006 AND 2005 Movements in provisions for contingencies and charges were as follows in 2007: (in € thousands) At Dec. 31, 2006 Increases in 2007 Decreases in 2007 (utilizations) Decreases in 2007 (surplus provisions) Changes in Group structure Changes in foreign exchange rates At Dec. 31, 2007 Provisions for claims and litigation and general contingencies ...................... 1,205 713 108 633 (25) 0 1,152 Provisions for charges ....................... 1,277 439 1 272 (27) 0 1,416 Total ........................................ 2,482 1,152 109 905 (52) 0 2,568 See Note 6, “Human Resources Data” for further information concerning the amount set aside during the year for employee benefits. Movements in provisions for contingencies and charges were as follows in 2006: (in € thousands) At Dec. 31, 2005 Increase in 2006 Decreases in 2006 (utilizations) Decreases in 2006 (surplus provisions) Changes in Group structure Changes in foreign exchange rates At Dec. 31, 2006 Provisions for claims and litigation and general contingencies ...................... 707 950 235 217 0 0 1,205 Provisions for restructuring costs ............. 30 0 30 0 0 0 0 Provisions for charges ........................ 596 679 1 12 15 0 1,277 Total ......................................... 1,333 1,629 266 229 15 0 2,482 The impact (net of charges incurred) of movements in provisions on operating profit and net financial expense was as follows: (in € thousands) 2007 2006 Operating profit ................................................................................ (519) (1,140) Net financial expense ........................................................................... 272 (260) Total ........................................................................................... (247) (1,400) NOTE 29: FINANCIAL LIABILITIES Financial liabilities can be analyzed as follows: At December 31, At December 31, (in € thousands) 2007 2006 Bank borrowings ............................................................... 0 1,766 Bonds .......................................................................... 301,927 295,416 Borrowings related to finance leases ............................................ 21,404 5,650 Cash flow hedges .............................................................. 802 0 Other .......................................................................... 74 42 Total long-term financial liabilities ........................................... 324,207 302,874 Bank borrowings ............................................................... 750 941 Bonds .......................................................................... 7,274 3,707 Borrowings related to finance leases ............................................ 6,556 3,066 Other bank borrowing facilities ................................................ 11,691 3,216 Cash flow hedges .............................................................. 4,858 0 Other .......................................................................... 27 16 Total short-term financial liabilities .......................................... 31,156 10,946 Total .......................................................................... 355,363 313,820 142 - Iliad – Registration Document 2007
20. FINANCIAL INFORMATION CONCERNING THE COMPANY’S ASSETS AND LIABILITIES, FINANCIAL POSITION AND PROFITS AND LOSSES 20.1 CONSOLIDATED FINANCIAL STATEMENTS FOR 2007, 2006 AND 2005 Short- and long-term financial liabilities correspond to the portion of payables due within one year and beyond one year respectively. All Group borrowings are in euros. The table below summarizes movements in borrowings in 2007 and 2006: (in € thousands) 2007 2006 Borrowings at Jan. 1 ........................................................................ 313,820 89,600 New borrowings37 .......................................................................... 24,552 333,998 Bonds (reallocation of equity component) .................................................. 0 (34,026) Repayments of borrowings ................................................................. (7,265) (84,139) Change in other bank borrowing facilities .................................................. 8,475 1,386 Impact of changes in Group structure ....................................................... 33 183 Interest on OCEANE bonds and bond premium ............................................. 10,078 6,893 Impact of cash flow hedges ................................................................. 5,660 0 Other ....................................................................................... 10 (75) Total borrowings at Dec. 31 ............................................................... 355,363 313,820 37 excluding borrowings related to finance leases ........................................... 1 326,262 Bonds On June 21, 2006, Iliad issued 3,265,190 OCEANE bonds convertible into new shares and/or exchangeable for existing shares, with a total face value of €287.5 million and paying interest at a rate of 2.20%. After the full exercise of the greenshoe option to the financial institutions which underwrote the issue, the number of OCEANE bonds outstanding at June 29, 2006 totaled 3,754,968, representing a total value of €330.6 million. The bonds mature on January 1, 2012 and are redeemable at face value, i.e. €88.05 per bond. The liability component of the OCEANE bond issue was analyzed as follows at June 29, 2006: (in € thousands) At June 29, 2006 Face value of the bonds issued on June 29, 2006 .............................................. 330,625 Issuance costs ................................................................................... (4,371) Net impact on 2006 cash flow ................................................................... 326,254 Equity component (gross value) ................................................................. (34,026) Liability component at June 29, 2006 ......................................................... 292,228 The impact of the bond issue on the Group’s equity was as follows: (in € thousands) At June 29, 2006 Equity component (gross value) ................................................................. 34,026 Deferred tax impact ............................................................................. (11,716) Net impact on equity .......................................................................... 22,310 Guarantees given The Iliad Group has not given any specific guarantees in return for its existing borrowing facilities with banks. Description of the Group’s main bank borrowing facilities outstanding at December 31, 2007 The Group did not have any significant outstanding bank borrowings at December 31, 2007. Iliad – Registration Document 2007 - 143
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Société anonyme. Share capital:
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TABLE OF CONTENTS GENERAL COMMENTS
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16.2 SERVICE CONTRACTS ENTERED INTO
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1. PERSONS RESPONSIBLE 1.1 PERSON R
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3. SELECTED FINANCIAL INFORMATION 3
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4. RISK FACTORS 4.1 RISKS RELATING
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4. RISK FACTORS 4.3 FINANCIAL RISKS
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4.4 LEGAL RISKS 4.4.1 Risks relatin
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4. RISK FACTORS 4.4 LEGAL RISKS The
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5. INFORMATION ABOUT THE COMPANY AN
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2007 • Sale of Kertel (February 2
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Considering acquisition opportuniti
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The Group’s network has been deve
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Réseau International CTI (Centre d
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6. OVERVIEW OF THE GROUP’S BUSINE
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The following tables give details o
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6.2 PRINCIPAL MARKETS 6.2.1 Interne
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Local loop unbundling 6. OVERVIEW O
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6.6.2 Regulation of the content of
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7.2 ORGANIZATION CHART At March 31,
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9.1 KEY CONSOLIDATED FINANCIAL DATA
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9. OPERATING AND FINANCIAL REVIEW 9
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9.1.2 ADDITIONAL INFORMATION 9.1.2.
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11. RESEARCH AND DEVELOPMENT, PATEN
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13. PROFIT FORECASTS OR ESTIMATES T
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14. ADMINISTRATIVE, MANAGEMENT AND
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15. COMPENSATION AND BENEFITS 15.2
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16. FUNCTIONING OF THE COMPANY’S
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21. ADDITIONAL INFORMATION 21.1 SHA
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21.1.8 Authorized unissued share ca
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21.4.2 Changes in the Iliad share p
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Not applicable. 23. THIRD PARTY INF
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25. INFORMATION ON SHAREHOLDINGS 25
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GLOSSARY Broadband ARPU (Average Re
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GLOSSARY IP (Internet Protocol): te
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GLOSSARY Spamming: the bulk mailing
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RR Donnelley : 01 53 45 19 00
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