AXWAY_REGISTRATION_DOCUMENT_2017

CORPORATE RESPONSIBILITY AXWAY GROUP AND ITS BUSINESS ACTIVITIES Notes to the annual financial statements 2017

CORPORATE GOVERNANCE

CONSOLIDATED FINANCIAL STATEMENTS

2017 ANNUAL FINANCIAL STATEMENTS

CAPITAL AND AXWAY SOFTWARE STOCK

INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES

COMBINED GENERAL MEETING OFb6bJUNEb2018

4.3 Accrued income and expenses

Accrued income Trade payables – Credit notes to be received

6,197

Trade receivables

33,273

Tax and social charge receivables

2,290

Other receivables

0

Total

41,760

Accrued expense Accrued interest Trade payables

113

22,036

Trade receivables – Credit notes to be issued

472

Tax and social charge payables

11,364

Other liabilities

321

Total

34,305

Tax and social charge receivables correspond to the Tax Credit for Competitiveness and Employment (CICE) recognized as a deduction from employee costs in the amount of €268Ǿthousand, claims filed with the Tax services for €1,176Ǿthousand, VAT accrued on expenses amounting to €938Ǿthousand and Patronage tax credits of €43Ǿthousand.

4.4 Staff The average workforce inǾ2017 stood at 577 employees, and the number of employees at 31ǾDecember 2017 was 518.

4.5 Fees for Statutory Auditors The fees of the Statutory Auditors included in the income statement amounted to €291Ǿthousand and correspond to the fees connected to statutory audits.

4.6 Off-balance sheet commitments

(in thousands of euros) Discounted notes not yet due

None

Bank guarantees in place of security deposits for leased premises

328 125 177

Bank guarantees for effective project completion

Bank guarantees for guaranteeing payment of tax liabilities Bank guarantees for guaranteeing payment of supplier invoices Unfunded retirement commitments (actuarial differences) Guarantees given to subsidiaries to guarantee tender bids Guarantees given to subsidiaries to guarantee leases

None

-1,372

None None

Severance of CEO’s duties

417

Collateral, mortgages and sureties Interest rate hedging instruments Exchange rate hedging instruments

None

see 4.30.3

None

190

AXWAY - 2017 REGISTRATION DOCUMENT

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