RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

Note 7. Non-controlling interests

EASIGAS ENTITIES The Group has consolidated the Easigas entities using the full consolidation method, with a Group ownership rate of 55% (60% until June 30, 2018 and then 55% from July 1, 2018).

ENTITIES OF THE RUBIS TERMINAL DIVISION Certain entities of the Rubis Terminal division are less than 100% owned (see the consolidation in note 3.1 and the application of IFRS 5 at December 31, 2019 in note 3.3). GALANA GROUP Some entities of the Galana Group in Madagascar are 80% and 90% owned.

The primary non-controlling interests are calculated for the following entities or sub- groups: SARA Since June 1, 2 015, t he Group ha s consolidated the 71%-owned SARA using the full consolidation method; the 29% non-controlling interests are held by Sol Petroleum Antilles SAS.

7.1 CONDENSED FINANCIAL INFORMATION - SUBSIDIARY WITH NON-CONTROLLING INTERESTS: SARA

The amounts presented below are before the elimination of intercompany transactions and accounts.

12/31/2019

12/31/2018

(in thousands of euros)

Fixed assets

158,744 10,115 128,944

134,256 (14,125) 157,959

Net financial debt (cash and cash equivalents – liabilities)

Current liabilities (including loans due in less than 1 year and short-term bank borrowings)

12/31/2019

12/31/2018

(in thousands of euros)

NET REVENUE NET INCOME

894,374 24,285

884,551 19,938

Group share

16,525

13,489

Share attributable to non-controlling interests

7,760

6,449

OTHER COMPREHENSIVE INCOME

(1,682) (1,194)

692 491 201

Group share

Share attributable to non-controlling interests COMPREHENSIVE INCOME FOR THE PERIOD

(488)

22,603 15,331

20,630 13,980

Group share

Share attributable to non-controlling interests Dividends paid to non-controlling interests Cash flows related to operating activities Cash flows related to investing activities Cash flows related to financing activities CHANGE IN CASH AND CASH EQUIVALENTS

7,272 6,452

6,650 6,428

79,245 (41,862) (30,032)

(13,336) (28,459)

2,979

7,351

(38,816)

266 i Rubis 2019 Universal Registration Document