BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

Information on interest rates As of December 31, 2017, outstanding loans and credit lines were contracted with floating rates ranging between 4.09% and 16%. 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.

PROVISIONS NOTE 17

Accounting policies Provisions are recognized when the Group has a present obligation as a result of a past event, and it is probable that an outflow will be required to settle said obligation and such outflow can be reliably measured. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material. In accordance with IAS 12, tax provisions relate to uncertain situations assuming a detection risk of 100% and retaining the most likely amount.

Tax and social risks

Product liability

Other risks and charges

and litigation Litigation

Total

(in thousand euros)

At January 1, 2017

25,560

5,477

1,075

3,447

35,560

Additional provisions

12,839 (1,422) (10,427)

7,802

138

2,222

23,001 (4,371) (12,040)

Reversals of provisions utilized

(1,074) (1,602)

(134)

(1,741)

Reversals of provisions not utilized

(8)

(4)

Exchange differences

(734)

(624)

(144)

(261)

(1,763)

Non-current liabilities held for sale at December 31, 2016 not sold in 2017 and reclassified

1,236

150

223

174

1,783

At December 31, 2017

27,052

10,129

1,151

3,837

42,170

195

BIC GROUP - 2017 REGISTRATION DOCUMENT