BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

Machinery & equipment

Construction in progress

Other fixed assets

Land & buildings

Total

(in thousand euros)

At January 1, 2016

229,732

933,158

1,103

21,467

1,185,460 82,900 13,476 (39,109) (123,834)

Amortization for the period

14,042

66,016

-

2,842

Impairment loss

6,600

6,735

141

-

Disposals/Write-offs

(457)

(33,254) (94,249)

(113)

(5,285)

Transfers to non-current assets held for sale (see Note 20)

(29,008)

-

(577)

Exchange differences At January 1, 2017

4,308

15,292

(224)

(43)

19,333

225,217

893,698

906

18,404

1,138,226

Depreciation for the period

14,542  

65,715  

-  

2,343  

82,600  

Impairment loss

39  

801  

(3)  

-  

837  

Disposals/Write-offs

(1,220)   (7,371)  

(26,028)   (31,274)  

(286)  

(2,069)  

(29,604)   (38,982)  

Exchange differences

(6)  

(332)  

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

4,149  

14,516  

-  

577  

19,242  

At December 31, 2017

235,356

917,427

616

18,919

1,172,320

NET VALUE At December 31, 2017 At December 31, 2016

184,344 171,015

268,092 247,076

170,565 137,459

8,082 8,872

631,083 564,420

The net value of property, plant and equipment included 2.3 million euros of finance lease assets as of December 31, 2017 (4.7 million euros as of December 31, 2016). As of December 31, 2017 the gross value of fully depreciated but still used property, plant and equipment was 294.5 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.

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BIC GROUP - 2017 REGISTRATION DOCUMENT