ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

In 2021, other current operating income includes: ◆ on the one hand, returns to full ownership of assets from construction leases on the Paris-Charles de Gaulle platform for an amount of nearly €109 million, including: ◆ a real estate complex identified under the name “KS Building” (18,599 m 2 ), occupied by Air France on the Roissy platform, ◆ a building complex used as a sorting center by La Poste (22,414 m 2 ),

◆ a freight station used as a Sorting Center (18,206 m 2 ) occupied by Chronopost, ◆ a building complex of activity warehouses (29,533 m 2 ) occupied by the WFS group, ◆ a warehouse asset (10,890 m 2 ) released by DSV; and ◆ on the other hand, compensation recognized for 21 million euros related to the compensation agreement concluded with the Société Grand Paris for the construction project of a metro station at Paris-Orly and the CDG Express project (30 million euros as of 31 December 2020).

4.4 Receivables and related accounts Trade receivables and related accounts break down as follows:

As at 31 Dec. 2021

As at 31 Dec. 2020

(in millions of euros)

Trade receivables

822

583

Doubtful receivables

125

113

Accumulated impairment

(120)

(129)

NET AMOUNT

827

567

Impairment losses applied in accordance to the IFRS 9 have changed as follows:

6

As at 31 Dec. 2021

As at 31 Dec. 2020

(in millions of euros)

Accumulated impairment at beginning of period

(129)

(96) (49)

Increases Decreases

(19)

37

9 4

Translation adjustments

1

Change in consolidation scope

(11)

-

Other changes

1

3

Accumulated impairment at closing of period

(120)

(129)

The Group classifies receivables by risk of customer default with which a percentage of impairment is associated.

Impairment of receivables at 31 December 2021 are stable following the review of risk levels (on hotels and rental companies) and the recognition of bad debts (notably on Aigle Azur).

4.5 Current operating expenses

Current operating expenses are reported according to their nature and comprise raw material and consumables used, external services and charges, taxes other than income taxes and other operating charges. With regards to taxes, the Group considers that the company value-added contribution (Cotisation sur la Valeur Ajoutée des Entreprises - CVAE) cannot be analyzed as an income tax.

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