FFP_REGISTRATION_DOCUMENT_2017

5

FINANCIAL STATEMENTS

Consolidated financial statements

16.5 UNREALISED LOSSES NOT INCLUDED IN THE INCOME STATEMENT AT THE BALANCE SHEET DATE

31/12/2017

31/12/2016

(in thousands euros)

Available-for-sale assets - Investments in non-consolidated companies Listed equities

(16,187) (1,631)

-

Unlisted equities

(531)

Available-for-sale assets - Portfolio Investment Securities Unlisted equities

- -

-

(3,543) (2,304) (6,378)

Listed equities

Private equity funds

(3,053)

TOTAL

(20,871)

investment phase, taking into account a permanent loss of value would amount to taking the view that it will make no returns on its future investments.

Private equity funds that are not subject to impairment charged to income are those that have carried out less than 90% of their planned investments. The performance of a fund is assessed globally, across all investments it makes. While a fund is in the

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FFP

2017 REGISTRATION DOCUMENT