Net financial position

The group’s net financial position at 30 June 2014 and 31 December 2013 is made up as follows:

Net financial position

(€’000) 30.06.2014 31.12.2013 restated*
Current loans and borrowings 3,648 7,616
Cash and cash equivalents (144,350) (191,521)
BANK LOANS AND BORROWINGS (140,702) (183,905)
Related party loan assets (32,012) (34,011)
Other loan assets (28,443) (30,046)
LOAN ASSETS (60,455) (64,057)
Other current loans and borrowings - 2,464
OTHER LOANS AND BORROWINGS - 2,464
NET FINANCIAL POSITION (201,157) (245,498)
(*) Restated figures due to the adoption of IFRS 11 governing joint arrangements, whereby the group’s interests in joint ventures are measured using the equity method as from 1 January 2014 (when the group adopted the new standard). The 2013 figures have been restated for comparative purposes.

At 30 June 2014, the group’s net financial position (greater loan assets and cash and cash equivalents than loans and borrowings) was €201.2 million, compared to restated €245.5 million at 31 December 2013 and restated €222.1 million at 30 June 2013.

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 100,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company