Eurazeo / 2018 Registration document

GROUP OVERVIEW Financial indicators

CONTRIBUTION OF THE INVESTMENT ACTIVITY: substantial capital gains

2 Net capital gains or losses & dividends and other investment revenues amounted to €548 million for the year ended December 31, 2018 (€586 million in 2017). They mainly stemmed from the sales of all shares in AccorHotels, Asmodee and Desigual, the partial sale of shares in Moncler (as well as the change in fair value of the remaining shares) and the sales of Odealim, Vignal Lighting Group and PeopleDoc.

PF Idinvest & Rhône FY

IN € M

2018

2017 PF

Net capital gains or losses & dividends and other investment revenue

547.7

585.6

Impairment

(177.1)

(26.8)

Operating expenses

(108.7)

(137.0)

Contribution of the Investment Activity

261.9

421.9

R OTHER INVESTMENT ACTIVITY EXPENSES: They include transaction costs relating to investment activity, Group strategic management and listing and the expense corresponding to calculated management fees, recognized in the asset management activity (these fees are income for the asset management activity and are therefore neutral in the consolidated income statements). All these expenses totaled -€109 million in 2018, compared to -€137 million in 2017, down by nearly 21%. The expense corresponding to calculated management fees totaled -€69 million compared to -€67 million in 2017.

R IMPAIRMENT LOSSES: Pursuant to accounting standards, Eurazeo adjusted the value of Europcar shares to €8.0 per share, resulting in the recognition of an impairment loss for -€146 million in the consolidated financial statements. Eurazeo also recorded a -€35 million impairment loss for MK Direct. Total impairment losses amounted to -€177 million compared to -€27 million in 2017.

Financial indicators

58

Eurazeo

2018 Registration document