SOLOCAL_Registration Document_2017

6

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

3.13

EXTRAORDINARY INCOME

Financial year ended 31 December

2017

2016

(in thousands of euros) Proceeds from transfers

10

247

Amount released on provision and depreciation

154

2,514

Other proceeds

2,333 2,496

23

EXCEPTIONAL INCOME

2,784

Net book value of assigned securities Special depreciation allowances

-

140 173

106

Other expenses

6,371 6,477

2,714 3,027 (242)

EXCEPTIONAL EXPENSES EXTRAORDINARY INCOME

(3,980)

There was a net exceptional loss of €4.0 million in 2017 compared with €0.2 million in 2016. The exceptional income is €2.5 million. This mainly consists of the expected repayment of employer’s contributions for bonus allocations (€2.0 million). In 2016, it consisted of charging back the costs related to move to the Citylights premises to subsidiaries.

The exceptional expenses in 2017 were €6.5 million. They mainly consist of the sale of Chronoresto shares for 5.3 million which were 100% depreciated. In 2016, they consisted mainly of charging back the costs related to the move to the Citylights premises to subsidiaries.

NOTE 4.

OTHER

4.1

OFF-BALANCE SHEET

Leases In 2014 and 2015, the SoLocal Group signed two agreements with two investors to lease commercial premises in high-rise buildings of the “Citylights” property development, which is under renovation at Boulogne-Billancourt. The final lease agreements were signed for a term of ten years, as the SoLocal Group waived its option allowing it to terminate the agreements every three years until the expiration of the final lease agreement. The lease agreements are therefore scheduled to come into effect on 9 May 2016 and expire on 8 May 2026. The premises leased by SoLocal, for the Group’s entities, represent 35,702 m², for a total commitment under these contracts of €105.3 million (excluding charges and rent indexation). Almost all of this area is charged back as part of the real estate services provided to the Group’s subsidiaries. Guaranteed deposits amounting to 4.1 million were paid following the move to the Boulogne-Billancourt premises.

COMMITMENTS

Employee training account – CPF SoLocal Group has not made any internal commitment to the CPF. There is no longer any commitment for the Company. Securities pledged The bond is directly secured by a pledge on the securities of PagesJaunes SA held by SoLocal Group. The Company also agreed to pledge to the lending banks a financial instrument account consisting of the securities of any subsidiary that becomes a “material subsidiary”, pursuant to the terms of the bond agreement, as collateral for all sums owed (including principal, interest, commissions, fees and costs) by the Company. Leaseback commitments SoLocal completed a sale and leaseback transaction on behalf of its PagesJaunes SA, Mappy and SoMS subsidiaries for an amount of €10 million. The financing period is 36 months for a total commitment of €13 million. A security deposit of €1 million has been paid as a result of this transaction.

200 2017 Registration Document SOLOCAL