SOLOCAL_Registration Document_2017

FINANCIAL STATEMENTS 6.2 Annual financial statements for the financial years ended 31 December 2016 and 2017

3.7

PROVISIONS FOR RISKS AND CONTINGENCIES

In 2017, provisions for retirement benefits and long-service awards SoLocal Group on 1 January 2017 of its employees in the GIE were fully restated. These amounts released follow the transfer by SoLocal, excluding the corporate officer.

Amount released for the financial year (provision used)

Allowance for the financial year

31/12/2016

31/12/2017

(in thousands of euros)

1

Pension and similar commitments

1,645 1,645

- -

(1,645) (1,645)

- -

TOTAL PROVISIONS FOR RISKS AND EXPENSES

3.8

DEBT MATURITY SCHEDULE

2

Financial year ended 31 December

more than one year

Gross amount

up to one year

(in thousands of euros)

3

Loans and financial debts from credit institutions Debt relating to future claims transferred – CICE

1,415 2,877

1,415 2,877

- - - -

Accrued interest not yet due (ICNE) Tax credit employment (CICE)

-

-

Loans and financial debts from Group companies

580,496

580,496

4

Convertible bond borrowings MCB (mandatory convertible bonds)

5,681

- -

5,681

Non-convertible bond borrowings

397,835 988,303 520,500

397,835 403,516

LOANS AND FINANCIAL DEBTS SUBTOTAL

584,787 520,500

Current accounts Special bank loans

- -

5

11

11

Trade creditors and related accounts Tax and social security debts Subsidiary debts (tax integration)

31,317

16,098

15,219

7,239 2,422

7,239 2,422

- -

Sundry debts

11,315

11,314

1

6

TOTAL

1,561,107

1,142,371

418,735

Trade creditors at more than one year consist of the rent for the Boulogne-Billancourt premises will be payable from September 2018 under the negotiated rent exemption.

7

3.9

ACCRUED INCOME AND EXPENSES

Income receivable (in thousands of euros)

Financial year ended 31 December

8

2017

2016

Trade debtors – invoices to be drawn up

738

354

Tax and social security claims – corporate income tax

-

-

Tax and social security claims – VAT

4,543

2,847

85

25

Sundry claims – Financial income receivable

TOTAL

5,367

3,226

Expenses payable (in thousands of euros)

Financial year ended 31 December

2017 1,910

2016

Financial debts – accrued interest not yet due

33,430 25,686

Trade creditors and related accounts

28,258

Tax and social security debts – VAT, taxes, salaries and social security contributions

584

5,323 3,789

Tax and social security debts – Corporation Tax

5,362 5,646

Sundry debts

TOTAL

41,760

68,229

As of 31 December 2017, the Corporation Tax position represents a debt of €5.4 million, whereas it represented a debt of €3.8 million at the end of the previous financial year.

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2017 Registration Document SOLOCAL