NEOPOST - 2018 Registration document

6

Financial statements

Consolidated financial statements

31 January 2019

31 January 2018

Current income tax charge

51.2

14.7

Deferred income tax charge

(14.4)

(13.9)

TOTAL INCOME TAX

36.8

(0.8)

Deferred tax assets and liabilities 12-4: Deferred tax assets and liabilities are mainly due to the following:

Changes recognized through equity

Changes recognized in the income statement

Foreign exchange differences

Reclas- sifications

31 January 2018

Scope variation

31 January 2019

Tax loss carry-forward

1.2 5.9

- -

-

(0.7) (0.5)

- -

-

0.5 5.4

Pension provision

(0.1)

0.1

Expenses with deferred deductibility:

• • • • •

inventories and bad debt employees related provisions

4.3 2.0 7.7

- - - - - - - -

- - - - - - -

(0.3)

- - - -

0.2 0.1 0.4 2.6

4.2 2.1 7.9

-

deferred income

(0.2) 16.1

fixed assets amortization other expenses with deferred

27.5

46.2

deductibility

2.4 3.3 0.4 0.0

- -

0.0

0.1

2.5 3.3 0.6 0.4

Patents

- - -

-

Restructuring provisions

0.1 0.1

0.1

Other

0.4

(0.1)

Deferred tax assets before tax consolidation

54.7

-

0.3

14.6

0.0

3.5

73.1

Tax consolidation

(50.1)

(17.3)

-

-

-

-

(67.4)

DEFERRED TAX ASSETS

4.6 (17.3)

0.3

14.6

0.0

3.5

5.7

At 31 January 2019, the recognition of deferred tax assets was reviewed. The tax loss carry forwards recognized as deferred tax assets have been depreciated where it is deemed unlikely that the Group will be able to use these in the five next years. This provision, presented on the line "Tax loss carry-forward", amounts to 31.2 million euros as at 31 January 2019. There are non-activated tax losses within the Group.

Changes recognized through equity

Changes recognized in the income statement

Foreign exchange difference

Reclas- sifications

31 January 2018

Scope variation

31 January 2019

Eliminations on margin on inventories, rented and demo equipment Capitalization of research and development expenses Amortization of intangible assets recognized after purchase price allocation

(4.6)

-

-

0.1

-

(0.1)

(4.6)

22.7

-

-

(0.8)

(3.0)

0.2

19.1

14.0

- - - - -

- - - -

(2.5) (2.4) (0.8) (1.4)

(1.3)

(0.2)

10.0

Leasing activities

105.2

- - - -

8.7 0.1 2.2 0.0

111.5

Amortization restatements

10.9 31.5 12.5

10.2 32.3 13.1

Goodwill amortization

Pension

0.5

0.1

Provisions with deferred deductibility

3.9 9.6

- -

-

(0.9)

- -

0.1 0.0

3.1

Other *

(0.9)

8.8

17.5

Deferred tax liabilities before tax consolidation

205.7 (50.1) 155.6

-

(0.4)

0.2 (4.3)

11.0

212.2 (67.4) 144.8

Tax consolidation

(17.3) (17.3)

-

-

-

-

DEFERRED TAX LIABILITIES

(0.4)

0.2 (4.3)

11.0 (7.5)

NET DEFERRED TAX

(151.0)

-

0.7

14.4

4.3

(139.1)

* The line "Other" mainly includes provisions for tax exposures.

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REGISTRATION DOCUMENT 2018 / NEOPOST