FFP_REGISTRATION_DOCUMENT_2017

5

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 23

PROVISIONS

23.1 CHANGES DURING 2017

Releases

Provisions for business combinations

Amounts used

Amounts unused

01/01/2017

Additions

31/12/2017

(in thousands euros) Employee benefits

550

- - -

207

260

- - -

497

Other provisions for personnel expenses

-

25

-

25

TOTAL

550

232

260

522

23.2 CHANGES DURING 2016

Releases

Provisions for business combinations

Amounts used

Amounts unused

01/01/2016

Additions

31/12/2016

(in thousands euros) Employee benefits

398 398

- -

152 152

- -

- -

550 550

TOTAL

NOTE 24

PENSION OBLIGATIONS AND SIMILAR

24.1 FFP’S OBLIGATIONS FFP employees are entitled to supplementary pension benefits payable to retirees, or post-employment benefits representing one-off payments made at the time of retirement. The employees concerned are as follows: O supplementary pensions: 3 people, currently retired; O post-employment benefits: 18 people. The latest external assessment of pension obligations was carried out at 31 December 2017. The assumptions used were as follows: O discount rate: 1.20% (1.40% in 2016); O inflation rate: 1.60%; O rate of salary increase: inflation + individual increases. As regards supplementary pension benefits, the total value of the Company’s obligations was €232 thousand at 31 December 2017. Those obligations were covered by €7 thousand of external funds, and the difference of €225 thousand is recognised under provisions on the liabilities side of the balance sheet.

Obligations relating to post-employment benefits amounted to €484 thousand at 31 December 2017. They were covered by €441 thousand of external funds and the €43 thousand difference is recognised under provisions on the liabilities side of the balance sheet. 24.2 SCA CHÂTEAU GUIRAUD’S OBLIGATIONS SCA Château Guiraud employees are entitled to post-employment benefits representing one-off payments made at the time of retirement. At 31 December 2017, 36 people were entitled to such benefits, as opposed to 32 people at 31 December 2016. Obligations were assessed at 31 December 2017. Château Guiraud’s total obligations came to €222 thousand at 31 December 2017, up from €214 thousand at 31 December 2016, and that figure is recognised as provisions on the liabilities side of the consolidated balance sheet. No external payments have ever taken place to cover these obligations.

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FFP

2017 REGISTRATION DOCUMENT