MRM_REGISTRATION_DOCUMENT_2017

3

General information on the issuer and its share capital

Consolidated financial statements for the year ended 31 December 2017

Note 3

Scope of consolidation

3.1 Consolidation methods

or minus changes in the Group’s share of the net assets of the affiliate net of any necessary consolidation adjustments; • In the statement of comprehensive income, a separate line showing the Group’s share of the profits of affiliates net of consolidation adjustments. The financial statements of affiliates are recognised in the consolidated financial statements from the date significant influence begins until it is lost. As of 31 December 2017, the Group had no affiliates.

3.1.1 Subsidiaries Subsidiaries are companies controlled by the Group. A subsidiary is controlled where the Group has the power to directly or indirectly manage the financial and operating policies of the entity so as to obtain benefits from its activities. In general, subsidiaries are deemed to be controlled when M.R.M. directly or indirectly holds more than 50% of the voting rights. The financial statements of subsidiaries are fully consolidated from the date control is obtained and are no longer consolidated when control is transferred outside the Group. The consolidated financial statements include all of the subsidiary’s assets, liabilities, income and expenses. Equity distinguishes between Group share and minority shares. As of 31 December 2017, all entities within the scope of consolidation were wholly controlled by the Group and were thus fully consolidated. 3.1.2 Affiliates Affiliates are companies in which the Group exercises significant influence in terms of operating and financial policy without having control of the entity. In general, significant influence is obtained when the Group owns at least 20% of the voting rights. The Group’s investments in affiliates are accounted for under the equity method which consists of recognising: • In the statement of financial position, the value of shares stated at their cost of acquisition including goodwill plus

3.1.3 Transactions eliminated from the

consolidated financial statements (intra- group transactions)

Items in the statement of financial position, income and expenses and unrealised gains and losses resulting from intra-group transactions are eliminated when preparing the consolidated financial statements. Gains resulting from transactions with affiliates are eliminated via investments in affiliates in proportion to the Group’s interest in the company in question. Unrealised losses are eliminated in the same way as unrealised gains but only insofar as they reflect an impairment loss. 3.2 List of consolidated entities The financial statements fully consolidate the financial statements of all companies in which M.R.M. exercises exclusive direct or indirect control.

Method of consolidation

Interest

Control

SA M.R.M.

Parent company

100% 100% 100% 100% 100% 100% 100%

100% 100% 100% 100% 100% 100% 100%

SAS COMMERCES RENDEMENT

FC FC FC FC FC FC

SAS DB NEPTUNE

SAS DB PIPER SCI GALETIN II SCI IMMOVERT SCI NORATLAS

FC: Full consolidation.

All of the Group’s companies are registered in France. As of 31 December 2017, the registered address for all Group entities was 5 avenue Kléber – 75016 Paris.

M.R.M. 2017 REGISTRATION DOCUMENT

81