BIC - 2019 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

Land & buildings – Right of use

Machinery & equipment – Right of use

Land & buildings

Machinery & equipment

Construction in progress Other

Vehicles - Right of use

Other leases

Total

(in thousand euros)

At January 1, 2018

235,319 917,425

616 18,622

38

2

229

66 1,172,319

Argentina hyperinflation

96

89

-

220

-

-

-

-

405

Amortization 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)

(113) (3,453)

(192)

-

(117)

(31)

(28,375)

Business disposal

(4,478)

(11,778)

-

(598)

(193)

(31)

(28)

(38)

(17,144)

Other transfers

39

-

-

(14)

(36)

-

-

-

(11)

Exchange differences

(151)

(14)

1 (557)

(244)

13

(5)

-

(959)

At January 1, 2019

245,731 953,307

504 16,022

10,260

1,328

3,891 335 1,231,378

Depreciation for the period

16,197

75,065

-

2,273

10,475

1,293

4,217 609 110,129

Impairment loss

-

350

-

-

-

-

-

-

350

Disposals/Write-offs

(2,159)

(22,608)

-

(537)

(831)

(129)

(1,017)

-

(27,281)

Other transfers

-

(649)

  5  614

-

  18

  12

-

-

Exchange differences

865

4,875

145 122

225

13

36 (11)

6,270

At December 31, 2019

260,634 1,010,340

654 18,194

20,129

2,523

7,139 933 1,320,846

NET VALUE At December 31, 2019

208,491 306,227 148,364 7,968

31,677

2,324

8,737 (299)

713,489

At December 31, 2018

202,367 288,956 155,308 6,920

32,663

3,490

9,752 298 699,755

As of December 31, 2019, the gross value of fully depreciated but still used property, plant and equipment was 796.2 million euros.

NOTE 10

GOODWILL

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 lowest 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. ●

205

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •