Assystem - 2018 Register document

BUSINESS REVIEW AND FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

At 31 December 2018, the fair value hierarchy levels for the Group’s financial instruments were as follows:

Level 1 – Market price

Level 2 – Observable market inputs

Level 3 – Unobservable inputs

Total

In millions of euros Investment property

-

-

1.4

1.4

Expleo Group convertible bonds

102.2 124.3 227.9

102.2 124.3 227.9

Investment in Framatome

-

-

Total

-

-

Current and non-current liabilities related to share acquisitions

- -

- -

5.7 1.3 7.0

5.7 1.3 7.0

Other non-current liabilities

Total

-

-

INCOME TAX

NOTE 12

12.1 Income tax recognised during the year

2018 (6.4)

2017 (4.3) (0.5) (4.8) 0.3 0.1 0.4 (4.0) (0.4) (4.4)

In millions of euros

Current tax

Deferred taxes

0.2

Total recognised in the income statement

(6.2)

Tax payable on treasury shares

-

Tax recognised in other comprehensive income Total recognised directly in equity

(0.1) (0.1) (6.4)

5

Current tax

Deferred taxes

0.1

Total for the year

(6.3)

12.2 Tax proof The table below reconciles the Group’s actual income tax expense to the theoretical income tax expense based on the tax rate applicable to the profit of consolidated companies:

2018

2017

In millions of euros

Profit before tax from continuing operations (excluding share of profit of equity-accounted investees and income from Expleo Group convertible bonds)

23.5

13.4

Theoretical income tax rate

34.43%

34.43%

Theoretical income tax expense

(8.1)

(4.6)

Permanent differences

4.0 2.1

2.9

Differences arising from applying different taxation rates

(0.1) (2.1)

Other taxes

(4.1) (0.2)

Income or expense relating to changes in tax rates or the imposition of new taxes

0.1

Adjustments recognised during the year for prior years

0.1

(1.0)

Benefits arising from tax losses and temporary differences not recognised in prior years

- -

0.2

Impact of tax losses and temporary differences not used during the year

(0.2) (0.2) (4.8)

Total adjustments

1.9

Actual income tax expense

(6.2)

Effective tax rate

26.38%

35.82%

The amount shown under “Other taxes” mainly comprises the Corporate Value-Added Contribution (CVAE) for French subsidiaries.

129

ASSYSTEM

REGISTRATION DOCUMENT 2018

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