BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

Land & building – Right of use

Machinery & equipment – Right of use

Land & buildings

Machinery & equipment

Construction in progress Other

Vehicle leases

Other leases

Total

(in thousand euros)

At January 1, 2017

225,184 893,698

906 18,052

35

349

3 1,138,226

Amortization for the period

14,535

65,713

- 2,203

7

2

135

5

82,600

Impairment loss

39

801

(3)

-

- -

- - - -

-

- -

837

Disposals/Write-offs

(1,220) (7,366)

(26,028) (31,274)

(286) (1,840)

(229)

(29,604) (38,982)

Exchange differences

(1)

(306)

(5)

(26)

(4) 66

Reintegration of non-current assets held for sale at December 31, 2016 not sold in 2017

4,149

14,516

-

512

-

-

19,242

At December 31, 2017

235,319 917,425

616 18,622

38

2

229

66 1,172,319

Argentina hyperinflation

96

89

-

220

-

-

-

-

405

Depreciation for the period

15,281

70,045

- 1,802

10,887

1,344

3,812 338 103,509

Impairment loss

-

1,634

-

-

-

- -

-

-

1,634

Disposals/Write-offs

(375)

(24,094) (11,778)

(113) (3,453)

(192) (193)

(117)

(31) (38)

(28,375) (17,144)

BIC Sport disposal

(4,478)

- -

(598)

(31)

(28)

Other transfers

39

-

(14)

(36)

-

-

- -

(11)

Exchange differences

(151)

(14)

1 (557)

(244)

13

(5)

(959)

At December 31, 2018 NET VALUE At December 31, 2018 At December 31, 2017

245,731 953,307

504 16,022

10,260

1,328

3,891 335 1,231,378

202,367 288,956 182,589 268,028

155,308 6,920 170,565 7,632

32,663

3,490

9,752 298 699,755

1,755

63

438

13 631,083

As of December 31, 2018, the gross value of fully depreciated but still used property, plant and equipment was 614.4 million euros.

GOODWILL NOTE 10

Accounting policies Goodwill arising from the acquisition of a subsidiary represents the excess of the acquisition price over the Group’s interest in the ● net fair value of the identifiable assets, liabilities and contingent liabilities of the subsidiary recognized at the date of acquisition. Goodwill is calculated in the currency of the acquired company. Goodwill is initially recognized as an asset at cost and is subsequently measured at cost less any accumulated impairment losses. Goodwill and fair value adjustment arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign ● entity and translated at the closing rate. For the purpose of impairment testing, goodwill is allocated to cash-generating units (“CGU”) representing the smallest level at ● which the goodwill is monitored at Group level. Cash-generating units to which goodwill has been allocated are tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is first allocated to the reduction in the carrying amount of any goodwill allocated to the cash-generating unit and then to the other assets of the unit prorated on the basis of the carrying amount of each asset in the unit. An impairment loss recognized for goodwill is not reversed in a subsequent period. On disposal of an activity, the attributable amount of goodwill is included in the determination of the gain or loss on disposal. ●

210

• BIC GROUP - 2018 REGISTRATION DOCUMENT •