Assystem - 2018 Register document

5

BUSINESS REVIEW AND FINANCIAL STATEMENTS

PARENT COMPANY FINANCIAL STATEMENTS

NOTES TO THE BALANCE SHEET AND INCOME STATEMENT

NOTE 3

3.1

Change in the gross value of fixed assets

Gross value at beginning of year

Increase in gross value

Decrease in gross value

Gross value at year-end

In thousands of euros Intangible assets

748

10

758

Property, plant and equipment

4,446

1

88

4,359

Long-term investments

449,637 454,831

160,071 160,082

79,970 80,058

529,738 534,855

Total

Year-on-year changes in long-term investments, as set out in Note 3.2 below, primarily relate to the acquisitions of shares in subsidiaries and affiliates referred to in Note 1 above, as well as new loans granted to subsidiaries, and treasury share transactions.

At 31 December 2018, intangible assets broke down as €715 thousand in software, €15 thousand corresponding to a fully-amortised patent and €28 thousand in goodwill. Property, plant and equipment broke down as €3,498 thousand in buildings, fixtures and fittings, €645 thousand in office furniture and equipment and €216 thousand in works of art.

3.2 Long-term investments Movements in long-term investments were as follows:

Gross value at beginning of year

Increase in gross value

Decrease in gross value

Gross value at year-end

In thousands of euros

Shares in subsidiaries and affiliates (1) Loans to subsidiaries and affiliates (2)

350,096 29,551

67,880

13,719 23,012

404,257 12,715

6,176

Deposits and guarantees

9

2

11

Convertible bonds (including accrued interest)

63,616

45,697

7,069 3,124

102,244 10,511 529,738

Treasury shares

6,365

7,270

Total

449,637

127,025

46,924

(1) Increases in the gross value of shares in subsidiaries and affiliates reflect: • the recapitalisation of Assystem Italia through the capitalisation of its current account with Assystem SA (€218 thousand); • the acquisition of Assystem Care Belgium shares (€80 thousand); • the take-up of shares as part of a capital increase carried out by Expleo Group (€30,360 thousand); • the acquisition of Assystem Care France shares (€13,565 thousand), which were immediately exchanged for Assystem Care Holding shares; and the purchase of additional Assystem Care Holding shares (€10,092 thousand). • The decrease in gross value of shares in subsidiaries and affiliates in 2018 corresponds to the transfers of shares in Assystem Belgium, Assystem Switzerland and Assystem Care France to Assystem Care Holding. (2) The €12,715 thousand recorded under the gross value of loans to subsidiaries and affiliates at 31 December 2018 included a €10,908 thousand loan to Assystem EOS. Currency translation differences related to loans to subsidiaries and affiliates corresponded to an aggregate €4,866 thousand. The table below shows a summary of movements in treasury shares during 2018:

Number of shares

Book value

(In thousands of euros)

Number of treasury shares at 31 December 2017

509,153 73,749 155,335 (67,401)

10,675 2,084 4,257 (1,657)

Purchases (liquidity contract)

Purchases (agency agreement to purchase Assystem SA shares)

Sales (liquidity contract) Deliveries of free shares

(3,500)

(85)

Adjustments to free share plans (difference between set and non-set price)

16

Number of treasury shares at 31 December 2018*

667,336

15,290

* Including €10,511 thousand recorded in “Long-term investments” and €4,779 thousand in “Marketable securities”.

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ASSYSTEM

REGISTRATION DOCUMENT 2018