The table below shows the Groupe’s net assets at December 31, 2022 broken down by principal currencies:
| (in millions of euros) | Total at December 31, 2022 | Euros(1) | US dollar | Pound sterling | Brazilian real | Yuan | Other |
|---|---|---|---|---|---|---|---|
| Assets | Assets Total at December 31, 202235,898 |
Assets Euros(1)4,972 |
Assets US dollar19,999 |
Assets Pound sterling2,151 |
Assets Brazilian real205 |
Assets Yuan1,958 |
Assets Other6,613 |
| Liabilities | Liabilities Total at December 31, 202226,298 |
Liabilities Euros(1)4,566 |
Liabilities US dollar15,277 |
Liabilities Pound sterling1,375 |
Liabilities Brazilian real133 |
Liabilities Yuan1,400 |
Liabilities Other3,547 |
| Net assets | Net assetsTotal at December 31, 20229,600 | Net assetsEuros(1)406 | Net assetsUS dollar4,722 | Net assetsPound sterling776 | Net assetsBrazilian real72 | Net assetsYuan558 | Net assetsOther3,066 |
| Effect of foreign exchange hedges(2) | Effect of foreign exchange hedges (2)Total at December 31, 2022- |
Effect of foreign exchange hedges (2)Euros(1)2,310 |
Effect of foreign exchange hedges (2)US dollar(2,144) |
Effect of foreign exchange hedges (2)Pound sterling138 |
Effect of foreign exchange hedges (2)Brazilian real- |
Effect of foreign exchange hedges (2)Yuan(7) |
Effect of foreign exchange hedges (2)Other(297) |
| Net assets after hedging | Net assets after hedgingTotal at December 31, 2022 9,600 |
Net assets after hedgingEuros(1) 2,716 |
Net assets after hedgingUS dollar 2,578 |
Net assets after hedgingPound sterling 914 |
Net assets after hedgingBrazilian real 72 |
Net assets after hedgingYuan 551 |
Net assets after hedgingOther 2,796 |
In addition, changes in exchange rates against the euro, the reporting currency used in the Groupe’s financial statements, can have an impact on the Groupe’s consolidated balance sheet and consolidated income statement.
The breakdown of Groupe revenue by the currency in which it is earned is as follows:
| 2022 | 2021 | |
|---|---|---|
| Euro | Euro 202211% |
Euro 202113% |
| US dollar | US dollar 202261% |
US dollar 202157% |
| Pound sterling | Pound sterling 20229% |
Pound sterling 20218% |
| Other | Other 202220% |
Other 202122% |
| Total revenue | Total revenue2022 100% |
Total revenue2021 100% |
The impact of a decrease of 1% of the euro rate against the US dollar and the Pound sterling would be (favorable impact):
Commercial transactions are mainly carried out in the local currencies of the countries in which they occur. Consequently, the resulting exchange rate risks are not significant and are occasionally hedged.
In the case of intercompany lending/borrowing operations, they are subject to appropriate hedging if they present a significant net exposure to foreign exchange risk.
The derivatives used are generally forward foreign exchange contracts or currency swaps.
The Groupe analyzes its trade receivables, focusing in particular on improving its collection times, as part of the management of its working capital. The Groupe Treasury Department monitors overdue receivables for the entire Groupe. In addition, the Groupe periodically reviews the list of main clients in order to determine the exposure to client counterparty risk at Groupe level and, if necessary, sets up specific monitoring in the form of a weekly statement summarizing the exposure to certain clients.
Any impairment losses are assessed on an individual basis and take into account various criteria such as the client’s situation and late payments. No impairment was recorded on an overall basis.
