Vetoquinol - Universal Registration Document - 2021

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements Vetoquinol Universal Registration Document 2020 Financial report 97 6 6.5.31 Financial liabilities Financial liabilities mainly include borrowings from credit institutions and bank overdrafts. Borrowings are recognized at cost less repayments, net of any transaction costs incurred. Borrowings with a term of less than one year are classified as current liabilities, with the exception of borrowings for which the Group has an unconditional right to defer repayment for at least 12 months after the balance sheet date. In such cases, the borrowings are classified as non-current liabilities. In the case of borrowings corresponding to finance lease restatements, the capital borrowed is equal to the initial value of the assets acquired under finance leases, which are recorded in Property, plant and equipment. Interest expenses are expensed as incurred. Current and non-current financial liabilities break down as follows: €000 Dec 31, 2020 Dec 31, 2019 Borrowings and other financial liabilities 176 277 Non-current financial liabilities 8,077 6,300 Total non-current financial liabilities 8,253 6,577 Borrowings and other financial liabilities 112,125 201 Current lease liabilities 4,371 4,377 Bank overdrafts 107 930 Total current financial liabilities 116,603 5,509 TOTAL FINANCIAL LIABILITIES 124,856 12,086 The breakdown by maturity of financial liabilities is as follows: €000 Total < 1 year 1-5 years > 5 years At December 31, 2019 Borrowings and other financial liabilities 478 201 277 - Lease liabilities 10,678 4,377 5,814 486 Bank overdrafts 930 930 - - TOTAL FINANCIAL LIABILITIES 12,086 5,509 6,091 486 At December 31, 2020 Borrowings and other financial liabilities 112,301 112,125 176 - Lease liabilities 12,448 4,371 7,629 448 Bank overdrafts 107 107 - - TOTAL FINANCIAL LIABILITIES 124,856 116,603 7,805 448 6.5.31.1 Reconciliation between opening and closing balances Opening and closing financial liabilities are reconciled as follows (excluding bank overdrafts), applying a distinction between cash flows and non-cash transactions: €000 Dec 31, 2019 Cash flows Non-cash transactions Dec 31, 2020 Acquisitions Currency gains/ losses IFRS 16 reclassification/ impact Changes in fair value Borrowings and other non- current financial liabilities 277 - - (40) (61) - 176 Borrowings and other current financial liabilities 201 112,249 - 387) 61 - 112,125 Lease liabilities 10,678 - (364) 2,134 - 12,448 Hedging instruments 0 -- - - - - - TOTAL FINANCIAL LIABILITIES 11,156 (112,249) - (790) 2,134 - 124,749