Derichebourg // 2020-2021 Universal Registration Document

5

Financial and accounting information Comments on the fiscal year

Main Company data:

2021

2020

In millions of euros

Revenue

2.3

2.3

Operating profit (loss)

(4.2)

(2.4) 45.9 43.6

Net financial profit (loss)

7.1 2.9

Recurring profit (loss)

Non-recurring profit (loss) Corporate income tax Net profit (loss)

(0.2) (2.8) (0.1)

0.1

(2.2) 41.5

Revenue is stable compared to the previous fiscal year. It consists of expenses re-billed to subsidiaries (mainly strategic assistance agreements and brand royalties). Operating expenses increased as a result of fees for preparing the Ecore acquisition. The net financial profit (loss) is down by €38.8 million compared to last year because the various investments did not distribute dividends during the past fiscal year, following the Group’s decision to comply with the spirit of government recommendations to skip a year of

dividends in the event of the use of State aid schemes during the lockdown period in Spring 2020. The non-recurring loss amounted to €(0.2) million, comprising a capital gain on the sale of land (€3.0 million), offset by intra-Group movements of provisions. Corporate income tax, calculated as part of the tax consolidation system, represents an expense of €2.8 million. Net profit (loss) is close to break-even point at €(0.1) million.

In accordance with Article L. 441-6-1 of the French Commercial Code, the payment schedule for Derichebourg’s trade payables is shown below:

Due

Not yet due

Total

In millions of euros

Non-Group suppliers Intra-Group suppliers

1.0 0.2 1.2 4.5 5.7

1.0 0.2 1.2 4.5 5.7

Total

0.0

Outstanding invoices

Total suppliers and related accounts Derichebourg SA

0.0

Financing and changes in debt 5.1.6 On June 7, 2021, Derichebourg launched the presentation of a “green” bond issue of €300 million, governed by the law of the State of New York. During this issue, the rating agencies S&P Global Rating and Fitch Ratings assigned a BB rating to this issue. On June 10, 2021, the transaction was largely oversubscribed, resulting in an annual coupon of 2.25%, for a bond with a maturity of seven years, redeemable in fine . No specific guarantees were granted to bondholders at the time of issue; they rank pari passu with the Group’s other sources of medium- or long-term financing (syndicated loan, EIB loan, bilateral loans). From January 15, 2022, the interest is payable every six months on January 15 and July 15. The bonds can be redeemed on July 15, 2028 and are listed on the Luxembourg stock market.

The holding company does not have significant receivables relating to third parties outside the Group (see schedule of receivables and payables presented in section 3.4 of the notes to the parent company financial statements). Furthermore: none of the expenses referred to in Article 39-4 of the General Tax Code were incurred over the fiscal year; the Company did not incur any research and development costs. The Group’s research and development activities are detailed in 1.2.4 and 3.5.2.2; the following investments were made and thresholds crossed during the course of the fiscal year: upwards: Derichebourg Ré (threshold crossing of 5%; 10%; 20%; ● 33.3%; 50%; 66.7%) following the creation of this subsidiary whose purpose is to be a captive reinsurance company, upwards: none. ●

DERICHEBOURG 2020/2021 Universal Registration Document 131