Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

Other relations with related parties BAY Consulting SPRL – of which Martine Bayens is Managing Partner – billed the Group consulting fees totalling €0.5 million in 2019. The Group also recognised liabilities in 2015 for commitments to one of the Managing directors to purchase non-controlling interests in Alterway for €0.4 million. Econocom Group committed to invest €3 ژ million in investment fund Educapital I FCPI, which is managed by a management company (Educapital SAS), of which Marie-Christine Levet, an independent Director on the Econocom Group Board of Directors, is chair and shareholder. Orionisa Consulting, which is controlled by Jean-Philippe Roesh, invoiced consulting services in the amount of €1.2 million.

Transactions with SCI Maillot Pergolèse, which owns the premises in Clichy and of which Jean-Louis Bouchard is Partner and Robert Bouchard Manager, consist of rent for 2019 amounting to €1.3 million. Receivables in the amount of €0.2 million correspond to guarantees issued by Econocom SAS. SCI JMB, which owns the premises in Villeurbanne and of which Jean-Louis Bouchard is Managing Partner, billed the Group a total amount of €1.1 million for rent in both 2019 and 2018. Econocom SAS paid €0.3 million in guarantees to SCI JMB. Relations with companies controlled by Robert Bouchard Gestion Management de la Petite Ceinture (GMPC) had invoiced the Group €0.8 ژ million for consulting services in 2018. No invoices were recognised in 2019.

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2019 annual report