Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

Changes in the scope 2.2. of consolidation Econocom group’s scope of consolidation is presented in note ژ 2.3, “Main consolidated companies”. ACQUISITIONS DURING 2.2.1. THE ژ YEAR There were no significant acquisitions in 2019 financial ژ year. CHANGES IN OWNERSHIP 2.2.3. INTEREST Infeeny and its subsidiary In the first half of 2019, the Group exercised its purchase options regarding two non-controlling interests, increasing its stake from 86.02% to 95.68%. Mobis and its subsidiaries (Rayonnance) The Group acquired an additional 8.92% of shares, thus raising its interest to 93.92%, before selling all of its shares (see 2.2.7.) Gigigo and its subsidiaries The Group signed an agreement with the non-controlling shareholders regarding the acquisition of the remaining shares. This raised its interest to 100%. Synertrade and its subsidiaries The Group, via its subsidiary Digital Dimension, acquired the remaining minority stake (10%) in July, thus increasing its stake to 100%. Altabox The Group acquired an additional 15.01% following the exercise of a put option, increasing the stake from 60.02% to 75.03%.

Alterway and its subsidiaries The Group acquired an additional 3.01% stake following the exercise of a put option, increasing the stake from 61.34% to 64.45%. JTRS Econocom Group increased its stake in the company through the acquisition of shares from a minority shareholder (5%). JTRS remains consolidated under the equity method. There was no other significant company creation. CREATION OF COMPANIES 2.2.4. In 2019, the Group created a company, “Econocom Ré”, in order to improve the management (in coordination with insurance companies) of the hedging of credit risks in its TMF business. It is fully consolidated, and 100% owned by the parent company, Econocom group. No other material companies were created in 2018. ASSETS/LIABILITIES 2.2.5. CLASSIFIED AS HELD FOR SALE, DISCONTINUED OPERATIONS In the first half of 2019, the Board of Directors identified a list of non-strategic operations and entities for which it issued sell orders. Given the progress in this regard, it is anticipated that they will be disposed of within 12 months. For the most part, the entities belong to the Digital Solutions & Services (DSS) business, primarily in France and Eastern and Northern Europe, and to a lesser extent in Southern Europe. In the second half of 2019, the Board of Directors completed this list with some nonstrategic activities and entities intended to be discontinued

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2019 annual report