EURONEXT_Registration_Document_2017

FINANCIAL STATEMENTS

Notes to the Consolidated Financial Statements

 €1.6 million of past service costs recognised as a result of the Portuguese pension plan settlement from defined benefit to defined contribution (see Note 26);  €2.2 million of benefit, related to the over funding of a pre- retirement plan ended in 2017;  €0.4 million of litigation provisions/settlements attributable to individual legal cases (see Note 27);  €2.6 million of costs related to the impairment of intangible assets (see Note 17). In 2016, exceptional items included:  €7.1 million of restructuring costs, including;  expenses for employee termination benefits in the various Euronext locations for €3.2 million,

 expenses attributable to the execution and completion of the French restructuring plans for €1.7 million, and  restructuring expenses relating to the relocation of Belfast IT operations to Porto for €2.2 million;  €3.3 million of transformational acquisition costs incurred for the envisaged acquisition of LCH S.A;  €0.4 million (benefit) of other items. If the exceptional items were presented by nature, salaries and employee benefits would amount to €0.7 million (2016: €6.2 million), depreciation and amortization would amount to €3.2 million (2016: €0.0 million) and other operational items would amount to €10.9 million (2016: €3.8 million).They relate to both income and expense.

NOTE 13 NET FINANCING INCOME / (EXPENSE)

YEAR ENDED

31 DECEMBER 2017

31 DECEMBER 2016

In thousands of euros

Interest expense

(2,373)

(2,142)

Other finance costs

(1,180)

-

Finance costs

(3,553)

(2,142)

Interest income

314

572

Gain/ (loss) on disposal of treasury investments

(5)

-

Net foreign exchange (loss)/gain

(356)

764

Other net financing income/(expense)

(47)

1,336

TOTAL

(3,600)

(806)

In 2017, the other finance costs relate to a provision made for stamp duty tax on cash-pooling arrangements in Portugal.

NOTE 14 RESULT FROM AVAILABLE-FOR-SALE FINANCIAL ASSETS

6

YEAR ENDED

31 DECEMBER 2017

31 DECEMBER 2016

In thousands of euros

Dividend income

6,105

6,032

Impairment of non-current investments

(5)

-

Gains on disposal of non-current investments

42,225

-

TOTAL

48,325

6,032

The gains on disposal of non-current investments primarily include: (i) €1.7 million of deferred consideration received from LSE group, in connection to a partial sale of LCH group shares in 2013 and (ii) a €40.6 million gain related to the share exchange transaction of the Group’s 2.31% interest in LCH group for an 11.1% interest in LCH S.A., which is further described in Notes 2 and 7.

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2017 REGISTRATION DOCUMENT