FFP_REGISTRATION_DOCUMENT_2017

5

FINANCIAL STATEMENTS

Consolidated financial statements

21.4 REMEASUREMENTS TAKEN DIRECTLY TO EQUITY AND RELATED DEFERRED TAX

31/12/2017

31/12/2016

(in thousands euros)

Remeasurements recognised directly in equity at beginning of period

1,398,877

1,374,477

Decrease in remeasurements following disposals Fair value remeasurements at end of period (net of tax)

(82,541)

- -

3,955

Available-for-sale assets

401,951

25,887 (2,087)

Interest-rate hedges

3,334

Other

-

600

REMEASUREMENTS RECOGNISED DIRECTLY IN EQUITY AT END OF PERIOD (A)

1,725,576

1,398,877

Deferred tax (B)

58,570

39,589

Total gross remeasurements at end of period (A+B)

1,784,146

1,438,466

21.5 BREAKDOWN OF REMEASUREMENTS BY TYPE

31/12/2017

31/12/2016

(in thousands euros)

Available-for-sale assets Equity securities

1,613,945

1,337,613

Portfolio Investment Securities

116,029

68,996 (7,732)

Interest-rate hedges

(4,398)

TOTAL

1,725,576

1,398,877

21.6 TREASURY SHARES

At 31 December 2017, the Company held 329,283 of its own shares. O 46,340 shares have been allocated to bonus share plans for 2016 and 2017 (Note 21.7); O 280,143 shares are intended to cover future plans; O 2,800 shares have been acquired under a liquidity agreement. The shares held are recognised at cost and recognised as a reduction in equity.

21.7 BONUS SHARE PLAN

A. Plan details On 7 July 2016 and 9 March 2017, in accordance with the authorisation given by the Shareholders’ General Meeting on 3 May 2016, FFP’s Board of Directors decided to set up a bonus share plan subject to performance conditions for certain employees and corporate officers of FFP and companies related to it. The bonus performance shares will vest after a three-year period, and there will be no subsequent lock-up period. The grants are subject to beneficiaries being continually employed within the Group or related companies during the vesting period. Vesting is subject to performance conditions in terms of the increase in FFP’s NAV: O between 31 December 2015 and 31 December 2018 for the 2016 plan;

O between 31 December 2016 and 31 December 2019 for the 2017 plan. B. 2016 bonus share plan The maximum number of FFP shares that may be granted under the plan is 17,277. The personnel expense associated with this plan, measured in accordance with IFRS 2, was €473 thousand for 2017. C. 2017 bonus share plan The maximum number of FFP shares that may be granted under the plan is 29,063. The personnel expense associated with this plan, measured in accordance with IFRS 2, was €730 thousand for 2017.

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FFP

2017 REGISTRATION DOCUMENT