Detailed net financial position as of
March 31, 2019 (in EUR million)

Gross cash

623

Gross debt

Institutional bonds: € (1,000) M - Bank debt: € (69) M

(1,069)

Net debt (excluding treasury shares)

(446)

Treasury shares

270

Total (included in GBL's NAV)

(176)

Maintaining a solid and flexible financial structure while limiting net indebtedness

Debt maturity profile

Debt maturity profile

GBL has undrawn committed credit lines for an amount of € 2,150 million (as indicated by the above dotted lines).

Institutional bonds

Risk Management

The risks associated with the management of cash and cash equivalents, financial instruments and financing may be consulted in the Risk Management section.