NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Parent company statements of financial position

Total receivables variation (238.6 million euros as at 31 January 2018 compared to 249.1 million euros as at 31 January 2017) is mainly explained by a decrease of short-term advances to subsidiaries for 17.2 million euros, by a decrease of 8.0 million euros of receivables from subsidiaries related to intercompany billing services and the increase in the receivable from the French government in the amount of

10.8million euros, largely owing to 8.3 million euros recorded in respect of the claim relating to a contribution of 3%, settled during dividend distribution by the Company in 2013, 2014

and 2015.

Receivables are paid in 30 days.

The breakdown by maturity at 31 January 2018 is as follows:

Gross value

Less than 1 year

More than 1 year

Loans

544.1

-

544.1

Other financial assets

1.1

-

1.1

Tax receivables

12.3

12.3

-

Group and related entities

199.6

199.6

Receivables and related accounts

20.1

20.1

-

Accrued income

2.3

2.3

-

Other receivables

4.2

4.2

-

TOTAL

783.7

238.5

545.2

Note 6

Short-term investments

if the allocation of options and free shares is subject to • the fact that the beneficiary is still in the Company’s staff during a certain period of time, the accounting method for this liability is spread over the vesting period. The free shares attribution expenses are recorded in the income statement on the line employees expenses; the treasury shares allocated to specific plans remain • measured at the acquisition cost and will not be depreciated. The booking cost is the cost to acquire these shares (if the shares have been allocated to a specific plan from their acquisition) or their net book value at the plan allocation date in the case of a future allocation. The shares acquired with a view to be attributed to employees and that are not attached to a determined plan remain measured according to general rules that apply to short-term investments.

Short-term investments and cash & cash equivalent are made up of treasury shares, short term securities and cash & cash equivalents. Short-term securities are valued using the First In First Out (FIFO) method. When the realizable value is lower than the acquisition cost, depreciation is recorded in the financial result for the amount of that difference. Since 2008, the Group applies the CRC 2008-15 rules relative to accounting for stock-option and free share attributions. As soon as it is likely that the entity will deliver existing shares to the plan beneficiaries, a liability (contingency provision) should be accounted for, on the basis of a probability that an outflow of resources will be necessary: the value of the outflow of resources is estimated on the basis of the probable cost of buying back the shares if they are not already held or of their entry cost on the date of plan allocation, determined in accordance with the following principles:

31 January 2018

31 January 2017

Short-term investments and cash & cash equivalents Treasury shares

4.7

3.3

Securities

-

0.0

Cash

110.2

29.4

TOTAL

114.9

32.7

179

REGISTRATION DOCUMENT 2017 / NEOPOST