Assystem - 2015 Registration Document

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

DEPRECIATION, AMORTISATION AND PROVISIONS FOR RECURRING OPERATING ITEMS, NET

NOTE 30

2015

2014

In millions of euros

Depreciation and amortisation expense

(8.9) (1.4)

(8.7) (0.8) (9.5)

Net change in provisions

TOTAL

(10.3)

NON-RECURRING INCOME AND EXPENSES

NOTE 31

2015

2014

In millions of euros

Impairment losses

(7.0) (5.3) (3.4) (0.3) (2.3)

(0.7) (2.0)

Net provision for tax dispute Restructuring costs and provisions

(11.6)

Share-based payment expense (free shares/stock options)

(0.7) (0.9)

Company acquisition costs and other

TOTAL NON-RECURRING INCOME AND EXPENSES

(18.3)

(15.9)

tax credits. The Group made this decision in light of changes in case law in 2015 related to similar disputes. Assystem is contesting the grounds of the reassessment in their entirety, based notably on the opinions of legal experts initially issued in 2014 and reiterated in 2015. The Group had already recognised a €2.0 million provision in its 2014 financial statements to cover the estimated costs of the procedure but these costs were re-estimated at €0.5 million in 2015 and €1.5 million of the provision was therefore reversed (see Note 20 – Provisions).

The impairment losses recognised in “Non-recurring income and expenses” in 2015 relate to the “Staffing” CGU. The amount recorded under “Net provision for tax dispute” reflects the Group’s decision to set aside a provision in its 2015 financial statements for 50% of the disputed amount ( i.e. €6.8 million out of a total €13.5 million) relating to a tax reassessment notified to Assystem France in late 2014 by the French tax authorities concerning research

NET FINANCIAL INCOME (EXPENSE) ON CASH AND DEBT

NOTE 32

2015

2014

In millions of euros

Bond debt – Ornane bonds

(1.1) (1.0) (2.1) 1.9 4.2 4.0

(2.5) (0.8) (3.3) 3.3 1.8 1.8

Medium and long-term credit facilities

Interest expense

Income from cash investments Currency translation impact

NET FINANCIAL INCOME (EXPENSE) ON CASH AND DEBT

120

ASSYSTEM

FINANCIAL REPORT 2015