GROUPAMA / 2018 Registration document

FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

NOTE 3

HELD-FOR-SALE OR DISCONTINUED BUSINESS ACTIVITIES

Income from discontinued

Held-for-sale or discontinued

Note 3.1

Note 3.2

business activities The net income of -€20 millioncorrespondsto the loss on the sale of the Portuguese subsidiaries Groupama Seguros de Vida and Groupama Seguros, before taking into account a writeback of contingentliabilities of €18 million.

business activities On 17 December 2018, the Group signed a memorandum of understandingfor the sale of the 79 avenue des Champs Elysées building with the Norwegian sovereign wealth fund Norges Bank. Groupamatherefore reclassifiedthis asset to “held-for-saleassets” for €150 million.

NOTE 4

OTHER INTANGIBLE ASSETS

31.12.2018

31.12.2017

Intangible assets related to insurance business

Intangible assets related to insurance business

Other intangible assets

Other intangible assets

Total

Total

(in millions of euros)

Openinggrossvalue

452

1,211

1,663

466

1,158

1,625

Increase

1

113

114

102

102

Decrease

(2)

(40)

(42)

(1)

(33)

(34)

Foreignexchangeadjustments

(16)

(3)

(20)

(13)

(2)

(15)

Change in scope of consolidation

(15)

(15)

Closing gross value

435

1,280

1,715

452

1,211

1,663

Openingcumulativeamortisation & impairment

(251)

(1,062)

(1,312)

(247)

(1,019)

(1,266)

Increase

(16)

(60)

(76)

(16)

(63)

(79)

7

Decrease

12

12

1

5

6

Foreignexchangeadjustments

13

3

16

11

1

12

Change in scope of consolidation

15

15

Closing cumulative amortisation & impairment

(253)

(1,107)

(1,359)

(251)

(1,062)

(1,312)

Openingcumulative long-term impairment

(123)

(1)

(124)

(126)

(1)

(126)

Long-term impairment recognised Long-term impairment write-backs

1

1

Foreignexchangeadjustments

3

3

3

3

Change in scope of consolidation Closing cumulative long-term impairment

(119)

(1)

(121)

(123)

(1)

(124)

OPENING NET VALUE

78

148

227

94

138

232

CLOSING NET VALUE

63

172

235

78

148

227

The Group’s intangibleassets canbe split intotwo groups: intangibleassets relatedto the insurancebusinessactivity; ❯ other intangibleassets. ❯ Intangible assets related to insurance business Intangible assets related to insurance business primarily correspond to values in force, values of the distribution networks,

values of customer relationships and brands. Only the portfolio value in Italy is subject toamortisation. Other intangible assets Other intangible assets consist primarily of software acquired and developed internally.

211

REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES