Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

Actuarial assumptions and experience 17.2. adjustments Actuarial valuations depend on a certain number of long-term variables. These variables are reviewed every ژ year.

France

Other countries (1)

ژ

2018

2019

2018

2019

ژ 63-65 years

63-65 years

ژ 60-65 years 1.00%- 2.20%

63-65 years 1.00%- 2.25%

Retirement age

2.20% 2.40%

Salary increase rate and rights vested

1.70% 1.90% 1.70% 1.90% 0.70% 1.60% 0.70% 1.60%

Inflation rate

Discount rate

INSEE 2013-2015

INSEE 2012-2014

- ژ

-

Mortality table

Individually, the “Other countries” had an immaterial impact. (1)

The employee turnover rate was determined based on statistics for each country and business. The employee turnover rate is applied depending on the age band of each employee and, for certain countries, depending on the employee’s status (managerial-grade/non-managerial-grade). A decrease of around 0.25 percentage points in the discount rate would lead to an

increase in the provision of approximately €1.9 million. A 0.25 percentage point increase in the discount rate would lead to a €1.4 million decrease in the provision. In accordance with IAS ژ 19, the discount rates applied to determine the amount of the obligation are based on the yield on long-term private-sector bonds over a term matching that of the Group’s obligations.

31 ژ Dec. 2019 31 ژ Dec. 2018 *

in € ڳ millions

ژ 72.2

63.1

Present value of obligation (a)

ژ 27.3

18.5

Present value of plan assets (b)

7.8

Impact of discontinued activities and disposals (c)

ژ 37.1

44.6

Provision for pension obligations (a) – (b) – (c)

ژ 0.3

0.5

Long-service awards

Provisions for pension and other post-employment benefit obligations

ژ 37.4

45.1

In accordance with the specifications of the standards, data at 31 December 2018 are not restated for the impact * of the application of IFRS 5 from 1 January 2019 (see 1.1.1.1). The total net amount reclassified at 31 December 2019 to assets held for sale was €7.3 million.

234

2019 annual report