CONSOLIDATED FINANCIAL STATEMENTS >
DIRECTORS’ REPORT
68
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
NET FINANCIAL POSITION
The following table provides a detailed breakdown of the net financial position:
(in millions of Euro)
31 December 2013 31 December 2012
Change 31 December 2011
Long-term financial payables
Term loan facility
400
946
(546)
400
Bank fees
(3)
(11)
8
(6)
Non-convertible bond
399
398
1
397
Convertible bond
263
-
263
-
Derivatives
4
35
(31)
31
Other financial payables
95
100
(5)
89
Total long-term financial payables
1,158
1,468
(310)
911
Short-term financial payables
Term loan facility
183
125
58
676
Non-convertible bond
15
15
-
15
Convertible bond
1
-
1
-
Securitization
-
75
(75)
111
Revolving facility - Credit agreements
3
4
(1)
6
Derivatives
19
7
12
24
Other financial payables
136
142
(6)
174
Total short-term financial payables
357
368
(11)
1,006
Total financial liabilities
1,515
1,836
(321)
1,917
Long-term financial receivables
4
9
(5)
10
Long-term derivatives
-
-
-
1
Long-term bank fees
-
4
(4)
15
Short-term financial receivables
12
7
5
9
Short-term derivatives
5
3
2
4
Short-term bank fees
5
5
-
7
Financial assets held for trading
94
78
16
80
Cash and cash equivalents
561
812
(251)
727
Total financial assets
681
918
(237)
853
Net financial position
834
918
(84)
1,064
