Assystem - Registration Document 2016

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

TRADE RECEIVABLES

2016

2015

In millions of euros Trade receivables

250.7

237.5

Accrued revenue and work-in-progress

83.3

73.3

Gross value

334.0 (13.9) 320.1

310.8 (12.6) 298.2

Impairment

Carrying amount

In 2016, the Group put in place a factoring contract under which the receivables sales concerned meet the derecognition criteria in IAS 39, “Financial Instruments: Recognition and Measurement”. The factored receivables under this contract represented a net amount of €2.3 million at 31 December 2016. ANALYSIS OF CHANGE IN OPERATING WORKING CAPITAL REQUIREMENT

Change related to operations

01/01/2016

Other

31/12/2016

In millions of euros

Trade receivables (1)

298.2

18.4 (3.0) (4.7) 10.7 (7.3)

3.5

320.1

Amounts owed to customers (2)

(6.0)

(0.2) (1.2) 2.1 (3.8)

(9.2)

Deferred income (2)

(35.2) 257.0 (55.3)

(41.1) 269.8 (66.4)

WCR – Trade receivables(1+2)

Trade payables (3)

Supplier prepayments (4) Prepaid expenses (4)

0.5 6.3

0.8 0.5

- -

1.3 6.8

WCR – Trade payables (3+4) Accrued taxes and payroll costs (5)

(48.5) (180.0)

(6.0) (6.6)

(3.8) (0.1) (0.5)

(58.3) (186.7)

Other current payables (5)

(1.4) 54.5

1.0 4.6

(0.9) 59.2

Prepaid and recoverable taxes and payroll costs (6)

0.1 0.5 0.0

Other current receivables WCR – Other (5+6)

3.4

(0.3) (1.3)

3.6

(123.5)

(124.8)

Total

85.0

3.4

(1.7)

86.7

The amounts in the “Other” column notably include the impact of changes in scope of consolidation and currency effects. Supplier prepayments, prepaid expenses and other current receivables constitute the “Other receivables” line of the statement of financial position. Amounts owed to clients, deferred income and other current payables constitute the “Other current liabilities” line of the statement of financial position.

AGED RECEIVABLES Credit risk represents the risk of the Group incurring a financial loss if a client fails to fulfil its contractual obligations.

The table below provides a breakdown of late payments for “Trade receivables” as a whole as well as the impairment losses recorded for disputed receivables and client defaults:

Gross

Impairment

Gross

Impairment

2016

%

2016

2015

%

2015

In millions of euros

Not past due

277.8

83.1%

– – – –

261.3

84.1%

– – – –

Up to 30 days past due

25.0

7.5% 2.1% 2.1% 5.2%

19.4

6.2% 3.1% 2.5% 4.1%

Between 31 and 60 days past due Between 61 and 180 days past due

6.9 7.1

9.5 7.8

More than 181 days past due

17.6

13.9 13.9

12.8

12.6 12.6

Total

334.4 100.0%

310.8 100.0%

96

ASSYSTEM

REGISTRATION DOCUMENT 2016