Altamir - Registration Document 2016
3
FINANCIAL STATEMENTS
Consolidated financial statements
NOTE 15 Other current financial liabilities
As of 31 December 2016, this line itemprimarily included debts to Apax France IX-B (€64.3m) and Apax IX LP (€3.9m), corresponding to investmentsmade that Altamir has not yet been asked to fund. This line itemalso includes €16moutstanding under the line of credit used by Apax France VIII-B.
NOTE 16 Valuation differences on divestments during the year
31/12/2016 205,040,489 193,907,477
31/12/2015 29,789,652 14,748,520 15,041,133 15,298,998
(in euros) Sale price
Fair value at start of year IMPACT ON INCOME
11,133,012 23,015,963 -11,882,951
Of which positive price spread on divestments Of which negative price spread on divestments
-257,865
NOTE 17 Other portfolio income
Other portfolio income is detailed as follows:
31/12/2016
31/12/2015
(in euros)
Interest and other portfolio income received
102,891
60,413
Dividends
1,350,373 1,453,264
18,461,104 18,521,517
TOTAL
NOTE 18 Purchases and other external expenses (incl. tax)
Purchases and other external expenses broke down as follows:
31/12/2016 9,196,977
31/12/2015 10,666,036 7,016,201 1,403,240 2,246,595
31/12/2014 10,288,298
(in euros)
Direct fees (incl. tax): (1)
Altamir Gérance management fees (excl. tax)
5,791,549 1,158,310 2,247,118
7,023,612 1,404,722 1,859,963
Non-recoverable VAT on Altamir Gérance management fees
Other fees and expenses (incl. tax)
including fees related to the portfolio
133,184
227,792
144,588
including recharges for services, administration and investor relations
686,477
659,980 391,965 7,745,386
708,190 118,986
including fees related to overdraft lines
172,147
Indirect fees (incl. tax):
11,772,021
6,814,793
Apax France VIII-B, Apax VIII LP, Phénix, Apia Vista, Apax France IX-B and Apax IX LP management fees Other Apax France VIII-B, Apax VIII LP, Phénix, Apia Vista, Apax France IX-B and Apax IX LP expenses TOTAL EXPENSES AND EXTERNAL PURCHASES (2)
8,188,840
6,026,382
5,600,581
3,583,181
1,719,004 18,411,423
1,214,213
20,968,997
17,103,091
Direct investments at cost:
273,148,716 596,676,379 869,825,095
301,731,265 339,720,000 641,451,265
305,390,218 339,720,000 645,110,218
Subscription commitments in the Apax funds CAPITAL COMMITTED AND INVESTED
(1) / Average NAV.
1.25% 2.78%
1.69% 2.86%
1.82% 2.63%
(2) / Average capital committed and invested
118 REGISTRATION DOCUMENT 1 ALTAMIR 2016
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