BIC - 2018 Registration document

FINANCIAL STATEMENTS

Consolidated financial statements

OFF-BALANCE SHEET ITEMS NOTE 25

25-1

Sureties, deposits and guarantees

The following schedule summarizes the off-balance sheet sureties, deposits and guarantees for the Group. All significant items are disclosed in this table. No other pledge of assets or registered shares is to be reported.

issued

None.

25-2

Sureties, deposits and guarantees received

Due

December 31, 2018

December 31, 2017

< 1 year

1 to 5 years

> 5 years

(in thousand euros)

Guarantees for credit lines

3,200

2,190

- -

5,390

4,265

Trade guarantees

102 492 111

- -

102 812 569

95

Operating lease guarantees

320 173

1,067

Sureties and deposits

285

686

Other guarantees and commitments

-

2,000 4,475

35

2,035 8,908

1,536 7,648

TOTAL

3,905

528

As of December 31, 2018, the guarantees for credit lines mainly related to the Group’s subsidiaries in Turkey, South Korea and Singapore for 5.1 million euros.

As of December 31, 2017, the guarantees for credit lines mainly related to the Group’s subsidiaries in Turkey, South Korea and Singapore for 4.3 million euros.

25-3

Lease arrangements

December 31, 2017

December 31, 2018

(in thousand euros)

Rentals under operating leases recognized as an expense in the year 2017 and rentals which did not fall within the scope of IFRS 16 in the year 2018

9,234

351

At the balance sheet date, the BIC Group has outstanding commitments under leases which are out of scope of IFRS 16, which fall due as follows:

December 31, 2017

December 31, 2018

(in thousand euros)

Within one year

9,147

583

In the second to fifth years inclusive

19,356

94

Beyond five years

4,619

-

TOTAL

33,122

677

CONTINGENT LIABILITIES NOTE 26

As of December 31, 2018, neither SOCIÉTÉ BIC nor its subsidiaries had any pending litigation, claims or disputes which, in the opinion of management, after consultation with their advisors, would have a material adverse impact on the consolidated financial statements.

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• BIC GROUP - 2018 REGISTRATION DOCUMENT •