RUBIS_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS 9

2017 consolidated financial statements and notes

GEOGRAPHIC BREAKDOWN OF EMPLOYEE BENEFITS (in thousands of euros)

Europe

Caribbean

Africa

Actuarial assumptions

0 to 12.30%

0.85 to 4%

9.09 to 15.9%

Provision for pensions and health insurance coverage

7,081

34,334

2,040

Provision for long-service awards

796

1,188

318

NOTE 5. Notes to the income statement

ACCOUNTING POLICIES The Group uses gross operating profit (Ebitda) as a performance indicator. Gross operating profit corresponds to net revenue minus: • purchases consumed; • external expenses; • payroll expenses; • taxes. The Group uses current operating income (Ebit) as its main performance indicator. Current operating income corresponds to gross operating profit after: • other operating income; • net depreciation and provisions; • other operating income and expenses. To better present the operating performance in the business lines, the equity associates’ net income is shown on a specific line in operating income. ACCOUNTING POLICIES Revenue from the Group’s activities is recognized: • for income arising from storage activities, (Rubis Terminal) spread over the term of the service contract; • for income arising from trading and distribution activities (Rubis Énergie), upon delivery; for the bitumen activity, revenue is mainly recognized at the bulk tank outlet; • for income earned by the support and services activities (Rubis Support and Services) recognition is upon delivery and according to the termof the service contract. Transport services associatedwith the supply of bitumen aremainly invoiced at the bulk tank outlet. As regards SARA, revenue from the sale of petroleum products is recognized at the bulk tank outlet when the product leaves the refinery or the other depots. Revenue from electricity sales is recognized at the end of the month on the basis of meter readings. In the case of administered margins, revenue is restated by recognizing accrued income, if applicable, or deferred income, in order to take into account the substance of the operations. Operations carried out on behalf of third parties are excluded from revenue and purchases in line with industry practices. 2017 Registration Document I RUBIS 218 5.1 REVENUE