QUADIENT - 2019 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

31 January 2020

31 January 2019

Current income tax charge

31.5

51.2

Deferred income tax charge

(10.1)

(14.4)

TOTAL INCOME TAX

21.4

36.8

13-4: Deferred tax assets and liabilities

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

Changes recognized through equity

Changes recognized in the income statement

Foreign exchange differences

31 January 2019

Reclas- sifications

Other changes *

31 January 2020

Tax loss carry-forwards - Net

0.5

0.7

-

-

4.6

-

5.8

Pension provision

5.4

-

0.5

(0.2)

-

0.1

5.8

Expenses with deferred deductibility: inventories and bad debt • employees related provisions • deferred income • fixed assets amortization • other expenses with deferred • deductibility

4.2

-

-

(0.2)

-

0.1

4.1

2.1

-

-

0.1

-

-

2.2

7.9

-

-

(0.8)

-

0.3

7.4

46.2

-

-

8.0

-

1.9

56.1

2.5

-

-

(0.9)

1.8

-

3.4

Patents

3.3

-

-

0.1

-

-

3.4

Restructuring provisions

0.6

-

-

(0.5)

-

-

0.1

Other

0.4

-

1.3

-

0.1

-

1.8

Deferred tax assets before tax consolidation

73.1

0.7

1.8

5.6

6.5

2.4

90.1

Tax consolidation

(67.4)

(13.8)

-

-

-

-

(81.2)

DEFERRED TAX ASSETS

5.7

(13.1)

1.8

5.6

6.5

2.4

8.9

* The column "Other changes" represents the deferred taxes recognized with the acquisition of Parcel Pending Inc.

At 31 January 2020, the recognition of deferred tax assets line “Tax loss carry-forwards”, amounts to (21.8) million was reviewed. The tax loss carry-forwards recognized as euros as at 31 January 2020. The depreciated tax loss deferred tax assets have been depreciated where it is carry-forwards represent a tax basis of approximately deemed unlikely that the Group will be able to use these in 80.9 million euros. There are non-activated tax losses the five next years. This provision, presented netted on the within the Group.

Changes recognized through equity

Changes recognized in the income statement

Foreign exchange difference

31 January 2019

Reclas- sifications

Scope variation

31 January 2020

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)

-

-

0.4

-

-

(4.2)

19.1

-

-

-

-

0.7

19.8

10.0

-

-

(4.1)

-

0.2

6.1

Leasing activities

111.5

-

-

2.5

-

4.5

118.5

Amortization restatements

10.2

-

-

(1.1)

-

0.2

9.3

Goodwill amortization

32.3

-

-

3.3

-

1.0

36.6

Pension

13.1

-

1.2

0.2

-

0.6

15.1

Provisions with deferred deductibility

3.1

-

-

(0.1)

-

0.1

3.1

Other*

17.5

-

(0.6)

(5.6)

-

0.4

11.7

Deferred tax liabilities before tax consolidation

212.2

-

0.6

(4.5)

-

7.7

216.0

Tax consolidation

(67.4)

(13.8)

-

-

-

-

(81.2)

DEFERRED TAX LIABILITIES

144.8

(13.8)

0.6

(4.5)

-

7.7

134.8

NET DEFERRED TAX

(139.1)

0.7

1.2

10.1

6.5

(5.3)

(125.9)

* The line “Other” mainly includes provisions for tax exposures.

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UNIVERSAL REGISTRATION DOCUMENT 2019