MRM // 2021 Universal Registration Document

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General information on the issuer and its share capital

Consolidated nancial statements for the nancial year ended 31 December 2021

4.3 Rights of use

Accounting principles

From 1 January 2019 Group leases are recognised according to IFRS 16 - “Leases” - under which a right-of-use asset and a lease liability are recorded in the balance sheet. In the income statement rental expenses are replaced by a depreciation expense of the right-of-use asset recorded under “Provisions and impairment” and by interest expenses recorded under “Gross borrowing cost”. The Group chose to apply the standard by recognising the cumulative effect of initially applying the standard as an adjustment to opening equity at the date of initial application.

Right-of-use assets break down as follows:

31/12/2021

31/12/2020

Gross Amort./Impair.

Net

Net

(in thousands of euros)

Right-of-use assets - Immovable asset Right-of-use assets - Movable asset

274

211

63

94

-

-

-

-

TOTAL RIGHT-OF-USE ASSETS

274

211

63

94

A lease liability of €64 thousand was also recorded in the balance sheet. In 2021 rental expenses of €33 thousand were deleted while accumulated depreciation and accumulated impairment of €31 thousand and interest expenses of €1 thousand were recorded.

4.4 Property, plant and equipment

Accounting principles

Cost of acquisition of property, plant and equipment Items with determinable costs and for which it is likely that the future economic benefits will flow to the Group are recognised as non-current assets. Property, plant and equipment are recognised at cost less cumulative depreciation and impairment. Where components of property, plant and equipment have different useful lives, they are recognised as separate property, plant and equipment.

Depreciation of property, plant and equipment Non-current assets are depreciated over their useful lives.

Depreciation is recognised as an expense on a straight-line basis over the estimated useful life of each item of property, plant and equipment.

Impairment of property, plant and equipment When events or new circumstances result in indications of impairment, impairment tests are carried out. The asset’s net carrying amount is compared with its recoverable amount. If the recoverable amount is lower than the net carrying amount of the assets, an impairment charge is recognised.

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M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT