Assystem - 2015 Registration Document

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

Present value of the post-employment benefit obligation

2015

2014

In millions of euros

Present value of the post-employment benefit obligation at beginning of year

25.8

18.8

Service cost

2.2 0.4

2.0 0.3 5.8

Interest expense

Remeasurement of the defined benefit liability recognised in equity

(3.6)

Currency translation differences

0.2 1.5

– –

Effect of changes in scope of consolidation

Benefits paid

(1.6) 24.9

(1.1) 25.8

PRESENT VALUE OF THE POST-EMPLOYMENT BENEFIT OBLIGATION AT YEAR-END

Plan assets

2015

2014

In millions of euros

Fair value of plan assets at beginning of year

1.5

1.6

Benefits paid

(0.1) 1.4

(0.1) 1.5

FAIR VALUE OF PLAN ASSETS AT YEAR-END

Plan assets are mainly split between two funds representing €0.8 million and €0.6 million respectively.

Actuarial assumptions

2015

2014

France Discount rate

2.5% 2.5%

1.3% 2.5%

Projected rate of salary increases

Defined contribution plans

2015

2014

Amount expensed for defined contribution plans

22.3

21.4

Sensitivity analysis The liability recognised for statutory retirement bonuses payable in accordance with the Syntec collective bargaining agreement is calculated based on actuarial assumptions related to the following: mortality rate, staff turnover, future salaries, discount rate and expected return on plan assets. Changes in these assumptions can impact the liability to a greater or lesser extent. The Group has chosen to present a sensitivity analysis for the discount rate applicable for France, since any change in this assumption could significantly affect the related liability:

1% decrease

0.5% decrease

0.5% increase

1% increase

Impact on equity (in millions of euros)

2.3

1.2

(1.3)

(2.7)

Impact on equity (%)

0.5%

0.3%

(0.3)%

(0.6)% 11.5%

Impact on net post-employment benefit obligation (%)

(9.8)%

(5.1)%

5.5%

110

ASSYSTEM

FINANCIAL REPORT 2015