NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Consolidated financial statements

6-1-2: Sales breakdown as follows:

Sales breakdown

•

By division

31 January 2018

31 January 2017

Enterprise Digital Solutions

135.9

136.5

Neopost Shipping

49.6

48.5

SME Solutions

941.6

990.9

Eliminations

(23.0)

(21.7)

Innovation*

7.6

4.5

TOTAL

1,111.7

1,158.7

Innovation includes the automated packing system CVP-500 sales. *

•

By type of revenue

31 January 2018

31 January 2017

Equipment and licenses

353.5

381.6

Recurring revenue

758.2

777.1

TOTAL

1,111.7

1,158.7

•

By geographic region

31 January 2018

31 January 2017

North America

493.2

515.8

Europe

530.3

557.5

Rest of the world

88.2

85.4

TOTAL

1,111.7

1,158.7

6-2:

Accounts receivable and lease receivables

6-2-1:

Accounting principles

Accounts receivable are recognized and recorded at the initial amount of the invoice. Accounts receivable may be written down for impairment. Depreciation is recognized when it is probable that the receivable will not be recovered and when the amount of the loss can be

measured reliably. Depreciation is estimated taking into account historical loss experience, the age of the receivable and a detailed risk assessment. Unrecoverable receivables are recognized as losses when they are identified as such.

6-2-2:

Receivables detail

31 January 2018

31 January 2017

Accounts receivable Gross value

261.1

287.7

Depreciation

(17.6)

(18.9)

Total

243.5

268.8

Lease receivables Short term

284.7

312.8

Long term

436.2

496.4

Gross value

720.9

809.2

Depreciation

(10.3)

(11.1)

Total

710.6

798.1

TOTAL

954.1

1,066.9

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REGISTRATION DOCUMENT 2017 / NEOPOST