BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

Main bank loans/credit lines and financial liabilities are as follows:

Borrowing country

Euro equivalents

Currency December 31, 2017

December 31, 2018

(in thousand euros)

Turkey •

TRY

1,799 1,173

887

South Korea •

KRW

1,174

Other •

Misc.

75

-

Sub-total

3,047 3,047

2,061 2,061

TOTAL

Information on interest rates As of December 31, 2018, outstanding loans and credit lines were contracted with floating rates ranging between 4.07% and 30%. Relative exposure, deemed not significant, has not been hedged.

Information on covenants None of the loans contain any covenants that could trigger early repayment of the debt.

Engagement reconciliation related to lease arrangements as of January 1, 2018

TOTAL

Engagement amount as of December 31, 2017

33,122

Off balance sheet items non previously identified

24,071

Contracts that are out of IFRS 16 scope or benefiting from the exemption

(58) 155 449

Difference resulting from flows not included in the off balance sheet commitments:

o/w differences resulting from duration

o/w difference between minimum lease payments under IFRS 16 and off balance sheet commitments

(389)

Other differences

96

Discounting effect

(3,499)

Exchange difference

(312)

Financial liability as of January 1, 2018

53,480

Lease payment under IFRS 16 in 2018 The rents paid in 2018 in respect of contracts falling within the scope of IFRS 16 for an amount of 16.6 million euros break down as follows: Depreciation: 16.9 million euros Interests: 1.5 million euros

The weighted average marginal borrowing rate at January 1, 2018 was 3.002%, identical for the valuation of the right of use and the obligation. The BIC Group has opted for a marginal debt ratio for discounting the debt. The rate used for each lessee is the rate he would have to pay to borrow, over a similar period and with similar security, the funds necessary to obtain an asset of similar value to the leased asset in a similar economic environment. The term used at the transition date is the residual term of the contracts.

Cash Flows for future years

The expected total rents, in million euros, is: 2019

15.9 13.0

2020 2021 2022 2023

8.9 5.8 3.2 5.4

Beyond 2023

218

• BIC GROUP - 2018 REGISTRATION DOCUMENT •