Assystem - 2015 Registration Document

FINANCIAL STATEMENTS

PARENT COMPANY FINANCIAL STATEMENTS

Significant events after the reporting date No significant events requiring adjustments to the financial statements as presented in these notes took place between 31 December 2015 and the date on which these financial statements were approved for issue by Assystem SA’s Board of Directors. Risk factors ASG is involved in a legal dispute with Acergy (since renamed Subsea 7) and Iska Marine concerning a fire that occurred in January 2010 aboard a ship, the Acergy Falcon, which was dry-docked in Brest for maintenance at the time. The main development in this case in 2015 was that the court-appointed expert filed his assessment report, which stated that ASG was at fault in a number of respects and therefore that it is jointly liable for the occurrence and extent of the fire, although the degree of its liability was not quantified. Despite the findings of this report, as in prior periods, Assystem still considers that there is no evidence that ASG was at fault or that it will necessarily be held fully or partially liable. In addition, as in previous periods, the Group confirms that in the event ASG is held liable, this claim would be covered under the Group’s third-party liability insurance policies.

resulting from the exercise of stock warrants in the period from 1 January to 31 January 2015. On 1 April 2015, the Board of Directors placed on record a €12 thousand capital increase (with an issue premium of €120 thousand) resulting from the exercise of stock warrants in March 2015. On 6 May 2015, the Board of Directors placed on record a €1 thousand capital increase (with an issue premium of €10 thousand) resulting from the exercise of stock warrants in the period from 1 April to 30 April 2015. On 5 June 2015, the Board of Directors placed on record a €15 thousand capital increase (with an issue premium of €154 thousand) resulting from the exercise of stock warrants in the period from 1 May to 31 May 2015. On 15 July 2015, the Board of Directors placed on record a €35 thousand capital increase (with an issue premium of €351 thousand) resulting from the exercise of stock warrants in the period from 1 June to 30 June 2015. The Company’s share capital totalled €22,218,216 at 31 December 2015.

BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2

Basis of preparation Assystem’s parent company financial statements have been prepared in accordance with French generally accepted accounting principles including the principle of segregation of accounting periods. They are presented on a going concern basis and accounting policies have been applied consistently from one year to the next. Accounting entries are based on the historical cost convention. Fixed assets Property, plant and equipment are stated at cost, corresponding to either purchase cost (including incidental expenses but excluding transaction costs), or production cost.

Interest on borrowings specifically used to finance property, plant and equipment is not included in production cost. Intangible assets are carried at cost, excluding financial expenses, which are not capitalised. Depreciation and amortisation is determined on a straight-line basis over the estimated useful lives of the assets concerned as follows:

6

Software

1 to 5 years

●

Patents

4 years

●

● Fixtures and fittings 5 to 10 years

Vehicles

3 to 5 years

●

● Office equipment 3 to 5 years

Office furniture

5 to 10 years

●

Buildings

20 years

●

133

ASSYSTEM

FINANCIAL REPORT 2015