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Investor Presentaiton

Part. III - Robust liquidity position Strong debt and treasury management Wallonie service public SPW OVERAL REGIONAL DEBT (€ million) Direct Debt (1) External Debt (SPABS + SWDE + FADELS) (2) 31 Dec 2019 31 Dec 2020 31 Dec 2021 31 Mar 2022 -10,839.75 -1,105.59 -15,536.43 -18,842.56 -21,070.26 -1,105.58 -1,105.57 Long-Term Regional Debt (3) = (1) + (2) -11,945.34 -16,642.01 -19,948.13 -1,105.58 -22,175.83 Short-Term Regional Debt (4) OUTSTANDING DIRECT DEBT (5) = (3)+(4) Regional Cash Balance (6) -879.00 -12,824.34 -917.50 -806.00 -806.00 -17,559.51 -20,754.13 -22,981.83 870.61 OUTSTANDING NET BALANCE (7) = (5)+(6) -11,953.73 2,556.33 -15,003.18 3,599.50 4,587.06 -17,154.63 -18,394.77 • SPABS: Société Publique d'Admnistration des Bâtiments Scolaires SWDE: Société Wallonne des Eaux FADELS: Fonds d'Amortissement des Dettes du Logement Social. 80% 70% 60% 50% 40% 30% 20% 10% 0% 31-déc-10 31-déc-11 31-déc-12 31-déc-13 31-déc-14 31-déc-15 31-déc-16 Debt allocation by financial instruments 2010-2021 (in %) 31-déc-17 31-déc-18 31-déc-19 29-déc-20 30-déc-21 Treasury Bill Bank Loan MTN EMTN Standalone Schuldschein Wallonia has secured and committed facilities that allow fast and continuous access to capital markets one European Medium-Term Notes program (EMTN); two Medium-Term Notes programs (MTN). 14
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