Exclusive Networks // Sustainability Report 2022

Risks and opportunities Risk factors

Risk related to acquisitions & integrations

Criticality level: ■ ■ ■

Description

Risk management

…/…  operational risks due to the need for a high level of team involvement to successfully integrate the acquired companies, which may have a negative impact given the additional workload this generates and the ability of these teams to carry out their daily activities.

 the implementation of an integration process and methodology coordinated by the team in charge of integrations covering all operational, financial, social and legal aspects. They include, among others:  on the financial side (i) the implementation of a business plan validated by the managers, the chief operating officer and the chief financial officer concerned in the Group, (ii) an integration manual detailing the necessary actions to be implemented in terms of reporting and financial monitoring with the support of the Group’s Finance Department and (iii) an integration plan relating to internal control. The integration plan is supervised by a specific committee including the Group chief financial officer, the Group Human Resources Director and the operational manager for the area. In accordance with IFRS, the Group Finance Department assesses the value and measures any impairment of goodwill each year. The net book value of goodwill amounts to €295 million. Impairment tests are carried out and monitored by the Group’s Finance Department and presented in Note 7.2 – Impairment Tests to the 2022 consolidated financial statements in Chapter 5 of the Universal Registration Document,  on the personnel front, the Human Resources Department and HR managers are responsible for applying a progressive policy of adapting the targets’ employees to the Group’s policies and procedures in terms of training, compensation and integration,  legal integration and risks & compliance.

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Exclusive Networks

Sustainability Report 2022

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