Assystem - 2018 Register document

5

BUSINESS REVIEW AND FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

RESIDUAL CONTRACTUAL MATURITIES A breakdown of the residual contractual maturities of the Group’s financial liabilities (including interest payments) is provided in the table below. The contractual cash flows presented – which cover coupons, interest payments and redemptions/repayments – have not been discounted.

Carrying amount at 31/12/2018

Contractual cash flows

Due within 1 year

Due in 1-5 years

Due beyond 5 years

In millions of euros

Sundry financial liabilities

63.5

65.8

0.5 1.1

65.3

-

Current and non-current liabilities related to share acquisitions

5.7 1.3

8.8 1.8

3.4 1.1

4.3 0.7

Other non-current liabilities

-

Trade payables

31.0

31.0

31.0

- -

- - -

6.9

6.9

6.9 7.5

Other current liabilities (1)

-

13.3

5.8

Operating leases (2)

Total contractual obligations

108.4

127.6

47.0

75.6

5.0

(1) Excluding accrued taxes and payroll costs and contract liabilities. (2) Off-balance sheet commitments.

PROVISIONS

NOTE 9

In accordance with IAS 37, a provision is recorded when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the obligation can be measured reliably. Where the effect of the time value of money is material, provisions are discounted using a discount rate that reflects the current market assessments of the time value of money and the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a financial expense.

Increases related to business combinations

Reversals (unused provisions)

At beginning of year

Reversals (used provisions)

Other movements

Additions

At year-end

In millions of euros

Employee-related risks and tax risks Total long-term provisions Guarantees for fixed-fee projects and losses at completion

16.4 16.4

0.5 0.5 0.4 0.3 0.4 0.6 1.7 0.4 0.3 0.9 0.6 2.2

(0.3) (0.3)

-

-

-

16.6 16.6

-

-

-

0.4 4.7 1.9 1.2 8.2

-

(0.3)

-

-

0.5 1.3 1.1 0.8 3.7

Restructuring costs

(4.9) (0.4) (0.2) (5.5) (4.9) (0.7) (0.2) (5.8) -

0.1

1.1

Employee-related risks and tax risks

(0.7) (0.8) (1.7)

- -

(0.1)

Other

Total short-term provisions Guarantees for fixed-fee projects and losses at completion

1.1

(0.1)

0.4 4.7

(0.3)

-

- -

0.5 1.3

Restructuring costs

0.1

1.1

Employee-related risks and tax risks

18.3

(0.7) (0.8) (1.7)

- -

(0.1)

17.7

Other

1.2

-

0.8

Total provisions

24.6

1.1

(0.1)

20.3

In late 2014 Assystem SA received notification of a €13.5 million tax reassessment relating to research tax credits recognised by its subsidiary Assystem France (which is now an Expleo Group subsidiary) for 2010, 2011 and 2012. Assystem considers that this reassessment is based on a general position taken by the French tax authorities which is

applicable, with no real grounds, to all of the French companies concerned and which Assystem is disputing in full. However, Assystem France set aside a provision in its 2015 separate financial statements (which was therefore included by Assystem in its consolidated financial statements) covering 50% of the risk concerned. At 31 December 2017 the Group increased the provision to cover

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ASSYSTEM

REGISTRATION DOCUMENT 2018