ALTAMIR_REGISTRATION_DOCUMENT_2017

3

FINANCIAL STATEMENTS Statutory financial statements

CAPITAL TRANSACTIONS

3.2

3.2.1 Income

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros)

Capital gains on sale of equity investments/portfolio investments

7,446

79,066 24,320

85,346 40,317

Reversals of provisions

40,085 36,552 84,083

Other income

6,957

9,267

TOTAL

110,343

134,930

Provision reversals included €32m relating to the reversal of the provision made against the interest on the Unilabs receivable.

3.2.2 Expenses

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros)

Losses on the sale of portfolio investments

1

2,572 17,568 1,607 21,747

6,111

Provisions for impairment

37,022

10,668 40,152 56,931

Other expenses

0

TOTAL

37,023

Other expenses included €32m relating to the loss of accrued interest on the Unilabs receivable, fully offset by a provision reversal of the same amount ( cf . 3.2.1), and €5.7m corresponding to the share of fees linked to the most recent distributions of portfolio funds.

3.2.3 Corporation tax The Company opted for the status of SCR ( société de capital risque ) as of the financial year ended 31 December 1996. The legislation on SCRs applicable as of 2001 exempts all income from corporation tax.

3.2.4 Extraordinary expenses

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros)

EXTRAORDINARY EXPENSE

118

52

42

3.2.5 Extraordinary income

31/12/2015

31/12/2016

31/12/2017

(in thousands of euros)

EXTRAORDINARY INCOME

142

98

3,133

reimbursement of the amounts paid, amounting to €2.8m, plus the related interest as damages of €190k.

This item mainly comprised accrued income relating to the 3% contribution on dividends. As this tax has been invalidated by the French Constitutional Council, Altamir requested the

NOTE 4 Other information

The Company has positive retained earnings of €74,107.78, which correspond to the undistributed income on treasury shares for the financial years 2011 to 2016. The general partner and the Class B shareholders have the right to receive a portion of distributable earnings, calculated in accordance with the method presented in paragraph 25 of the Company’s Articles of Association, specifically an amount of €11,817,703 for the financial year 2017.

EMPLOYEES

4.1

The Company has no employees, and no stock option plan in place.

RIGHTS OF THE GENERAL PARTNER AND CLASS B SHAREHOLDERS

4.2

The Company generated net income of €69,886,628.60 in 2017.

146 REGISTRATION DOCUMENT

• ALTAMIR 2017

www.altamir.fr