SOPRA_STERIA_REGISTRATION_DOCUMENT_2017

2017 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

7.1.2. Other loans and receivables

31/12/2017

31/12/2016

(in millions of euros)

Loans

0.1

0.1 1.1 1.8 5.9

CIR and CICE tax credit receivables* Other non-current receivables

-

2.2 8.2

Deposits and other non-current financial assets

Provisions for loans, deposits and other non-current financial assets

-0.1

-0.4 8.5

TOTAL

10.4

* CIR : R&D Tax credit ; CICE : competitivences and jobs tax credit.

R&D tax credit receivables classified as Other loans and receivables are those which will be used or redeemed after more than one year. During the 2016 financial year, they were reclassified to Other current assets . Deposits and other non-current financial assets mainly include guarantees given for leased premises and receivables relating to equity investments.

Other non-current receivables mainly consist of advances paid by the NHS SBS entity to new customers of its platform to facilitate their migration. These deposits and other receivables are held at their nominal value, given that the effect of discounting is not material.

7.2. Trade accounts receivable

31/12/2017

31/12/2016

(in millions of euros)

Trade accounts receivable – gross value

666.1 483.1 -11.4

674.1 468.4

Accrued income

Impairment of trade accounts receivable

-9.8

TOTAL

1,137.8

1,132.7

comparing Net trade accounts receivable with the revenue generated in the final quarter of the reporting period. Net trade accounts receivable is obtained by eliminating VAT from the Trade accounts receivable balance and subtracting the deferred income balance appearing under liabilities. Accrued income is comprised essentially of work performed in respect of fixed-price projects recognised using the percentage-of-completion method (see Note 4.1.a) and also includes the transition costs. These consist of costs relating to services in progress initiated during the start-up phase of certain major contracts, and correspond to activities that will generate future economic benefits.

In December 2017, the Group completed the sale of trade accounts receivable in France for a total value of €56.8 million, compared with €25.0 million in December 2016. In 2017, the sale of receivables were made with recourse in the amount of €19.8 million and without recourse in the amount of €37.0 million. Only receivables sold without recourse were removed from the balance sheet. In 2016, as the sale was made with recourse, the receivables were not removed from the balance sheet. Net trade accounts receivable , expressed in terms of months of revenue, corresponded to about 2.0 months of revenue at 31 December 2017, versus 2.2 months at 31 December 2016. This ratio is calculated by

7.2.1. Aged trade accounts receivable

Of which: past due, with the following breakdown

Of which: not past due at the balance sheet date

Between 30 and 90 days

Between 90 and 120 days

Carrying amount

Less than 30 days

More than 120 days

(in millions of euros)

Trade accounts receivable

666.1

427.9

140.5

40.1

12.4

45.2

7.2.2. Statement of changes in provisions for trade accounts receivable

31/12/2017

31/12/2016

(in millions of euros)

Provisions for trade accounts receivable at 1 January

9.8 0.1 2.9 -1.4

9.2 0.6 -0.8

Changes in scope

Additions net of reversals

Reclassification

1.0

Translation adjustments

-

-0.2 9.8

PROVISIONS FOR TRADE ACCOUNTS RECEIVABLE AT PERIOD-END

11.4

159

SOPRA STERIA REGISTRATION DOCUMENT 2017