Sopra Steria - 2018 Registration document

2018 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

7.3. Other current assets

31/12/2018

31/12/2017

(in millions of euros)

Inventories and work in progress Advances and payments on account

20.1

6.5 3.9 6.1

6.3 4.8

Staff and social security

Tax receivables (other than corporate income tax)

100.2

94.8 77.7

Corporate income tax

85.4

Loans, guarantees and other financial receivables maturing in less than one year

5.9

3.4

Other receivables

13.2 -1.1 48.7

14.7 -0.8 36.7

Impairment of other receivables

Prepaid expenses

Derivatives

3.3

3.3

TOTAL

286.8

246.3

Inventories and work in progress essentially result from the costs of fulfilling contracts (transition phases of third-party application maintenance, infrastructure management and outsourcing contracts; preparatory phases for licences in SaaS mode), as described in Note 4.1. Their increase results from the signature of new contracts. Tax receivables include those relating to the CIR (R&D tax credit) in France.

In France, the Group sold tax receivables arising from the entirety of the 2018 CICE (French tax credit for competitiveness and jobs) and a portion of the CIR, for a total amount with deconsolidation of €41.9 million (€47.5 million in 2017) and without deconsolidation of €12.4 million.

7.4. Other non-current liabilities

31/12/2018

31/12/2017

(in millions of euros)

Put options granted

65.2 32.6

58.4

Other liabilities – Portion due in more than one year

3.6 3.2

Derivatives

2.2

TOTAL

99.9

65.2

In the United Kingdom, the put option granted by the Group to the Cabinet Office for the shares it holds in the SSCL joint venture, which may be exercised between 1 January 2022 and 31 December 2023, represented a non-current liability of €57.9 million at 31 December 2018 (€53.5 million at 31 December 2017). The Group also entered into an irrevocable commitment to acquire the shares held by minority shareholders in Tecfit – the holding company of Galitt, which was acquired in the second half of 2017 (see Note 2) – by way of a put option granted to these shareholders. The Put options granted to non-controlling interests When non-controlling interests have an option to sell their investment to the Group, a financial liability is recorded in other non-current liabilities for the present value of the option’s estimated exercise price. The offset of the financial liability generated by these commitments is deducted from: p

corresponding non-current liability was €7.3 million at 31 December 2018 (€4.9 million at 31 December 2017). Lastly, other non-current liabilities also included a liability related to the acquisition of an operating licence as part of the fulfilment of a contract in the United Kingdom with the UK administration, for €30.9 million. At 31 December 2018, derivatives consisted of interest rate and foreign currency hedges (see Notes 11.5.3 and 11.5.4). the corresponding amount of non-controlling interests initially; and p the Group’s share of consolidated reserves for the remainder. Subsequent changes in this put option arising from changes in estimates or relating to the unwinding of discount are offset against the corresponding non-controlling interests and the remainder is deducted from the Group’s share of consolidated reserves.

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SOPRA STERIA REGISTRATION DOCUMENT 2018

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