ASSYSTEM_Registration_Document_2017

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

8.5

Financial income and expenses

NET FINANCIAL EXPENSE ON CASH AND DEBT “Net financial expense on cash and debt” corresponds to all income and expenses arising during the period on items making up net debt, including gains and losses on interest rate and currency hedges on debt. Changes in the fair value of the above-mentioned categories of financial assets and liabilities are not included in this line in the income statement and instead are recognised in “Other financial income and expenses”.

2017 (0.1) (0.8) (0.9) (1.3) (0.7) (2.7) 0.2

2016 (0.6) (0.2) (0.8) (1.7) (0.8) (1.5) 1.8

In millions of euros

Bond debt - Ornane and Odirnane Medium- and long-term credit facilities

Interest expense on debt Income from cash investments

Foreign exchange losses

Other financial income and expenses arising on net debt Net financial expense on cash and debt

OTHER FINANCIAL INCOME AND EXPENSES Other financial income and expenses correspond to income and expenses that are non-operational (e.g. financial income arising from the main business of the Company, a subsidiary or a division or financial income associated with a commercial activity) and which are not included in “Net financial expense on cash and debt”. They consist mainly of dividends from non-consolidated companies, impairment of AFS financial assets, gains and losses on disposals of AFS financial assets, impairment and losses on disposals of other current and non-current financial assets, the effect of discounting provisions, changes in the fair value of financial assets and liabilities, foreign exchange gains and losses on operating assets and liabilities, and miscellaneous financial income and expenses.

2017 (0.4) (0.3)

2016 (0.1) (1.8) (2.2)

In millions of euros Effect of discounting

Amortised cost of financial liabilities

Net expense related to buybacks of Ornane bonds

-

Foreign exchange gains and losses

(0.1)

1.4 0.3 0.1

Net gain (loss) on financial liabilities at fair value through profit or loss

6.4

Miscellaneous financial income and expenses Total other financial income and expenses

(2.8) 2.8

(2.3)

Out of the total net gain on financial liabilities at fair value through profit or loss, €6.2 million related to a revision of the assumptions used for calculating the put options granted to non-controlling interests in and commitments to pay dividends to the third-party shareholders of the Turkish Company Envy (see Note 10 – Liabilities related to share acquisitions (current and non-current) and other non-current liabilities). “Miscellaneous financial income and expenses” includes €2.1 million in late payment penalties related to the tax audit described in Note 5.6 – Non-recurring income and expenses.

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ASSYSTEM

REGISTRATION DOCUMENT 2017