BPCE - 2018 Registration document

5 FINANCIAL REPORT

IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2018

5.3.4

Statement of changes in equity

Share capital and additional paid-in capital

Additional paid-in capital

Perpetual deeply subordinated notes Retained earnings

Share capital

in millions of euros

SHAREHOLDERS’ EQUITY AT JANUARY 1, 2017

156

12,426

1,230

5,260

Dividend payments

(410)

Capital increase Redemption of deeply subordinated notes (1) Interest on deeply subordinated notes

(547)

(505)

(75)

Impact of acquisitions and disposals on non-controlling interests (2) Total activity arising from relations with shareholders Gains and losses recognized directly in other comprehensive income (3) Net income for the period Comprehensive income Other changes (4)

(215)

(547)

(1,205)

(44)

SHAREHOLDERS’ EQUITY AT DECEMBER 31, 2017

156

12,426

683

4,011

Allocation of net income for 2017

845

New presentation of gains and losses of the insurance business recognized directly in other comprehensive income Impact of changes relating to the first-time application of IFRS 9 (5)

92

SHAREHOLDERS’ EQUITY AT JANUARY 1, 2018

156

12,426

683

4,948

Dividend payments Capital increase (6)

(402)

2

199

Issuance and redemption of deeply subordinated notes (7)

700

(35) (64)

Interest on deeply subordinated notes

Impact of acquisitions and disposals on non-controlling interests (8) Total activity arising from relations with shareholders Gains and losses recognized directly in other comprehensive income (9) Net income for the period Comprehensive income FTA corrections

(114) (615)

2

199

700

(2)

Other changes (10)

(17)

SHAREHOLDERS’ EQUITY AT DECEMBER 31, 2018

158

12,625

1,383

4,314

Redemptions of perpetual deeply subordinated notes over the period amounted to: (1) €990 million for BPCE SA group issues; this redemption led to the reversal of the capital gain recorded in equity in the amount of €444 million (see Note 5.12.2); ● €276 million for the redemption by Natixis of a perpetual deeply subordinated note issued in 2007, which was fully subscribed for by non-controlling interests. This redemption led to the reversal of the ● capital gain recorded in equity in the amount of €87 million (€62 million attributable to equity holders of the parent and €25 million attributable to non-controlling interests). Including a reduction in retained earnings of €510 million and an increase in the translation difference of €5 million (-€210 million attributable to equity holders of the parent and -€295 million attributable to (2) non-controlling interests) arising from the impact of acquisitions and other movements. This reduction was mainly due to the following: -€292 million (-€80 million attributable to equity holders of the parent and -€212 million attributable to non-controlling interests) for the purchase of 40% of BPCE Assurances from non-controlling interests; ● -€122 million (-€87 million attributable to equity holders of the parent and -€35 million attributable to non-controlling interests) for call options granted to minority shareholders in the Australian company ● Investor Mutual Limited (IML), in PayPlug and for the results of the public offer for the shares in Dalenys group held by minority shareholders made in December 2017; -€96 million (-€68 million attributable to equity holders of the parent and -€28 million attributable to non-controlling interests) for the change in the fair value of call options granted to the minority ● shareholders of: DNCA France (-€45 million attributable to equity holders of the parent and -€18 million attributable to non-controlling interests), - Ciloger (-€11 million attributable to equity holders of the parent and -€5 million attributable to non-controlling interests), - Dorval (-€21 million attributable to equity holders of the parent and -€8 million attributable to non-controlling interests), - Darius (-€5 million attributable to equity holders of the parent and -€2 million attributable to non-controlling interests), - Lakooz (+€3 million attributable to equity holders of the parent and +€1 million attributable to non-controlling interests), - +€18 million (€13 million attributable to equity holders of the parent and €5 million attributable to non-controlling interests) for the inclusion of Batilease, Batilease Invest and Intercoop in the - consolidation scope (entities sold to Natixis by Crédit Coopératif).

412

Registration document 2018