Assystem - 2015 Registration Document

MANAGEMENT REPORT

ASSYSTEM SA PARENT COMPANY FINANCIAL STATEMENTS

3.2.4

OUTLOOK

3.2.5 EVENTS AFTER THE REPORTING DATE A tax audit conducted by the Federal administration was completed in February 2015 at MPH Nigeria. The adjustment notification has not yet been received, but potential adjustment amounts are covered by the provisions recorded in the MPH Nigeria balance sheet at the time Assystem acquired it in 2012. At this stage, the Group considers that no additional provision is necessary.

In a context of buoyant markets in the Automotive, Aerospace and Nuclear divisions, Assystem’s objectives for 2016 are: ● organic growth in revenue at a constant exchange rate in excess of 3.5%;

● renewed growth in operating margin; ● free cash flow greater than 4% of revenue.

3.3 ASSYSTEM SA PARENT COMPANY FINANCIAL STATEMENTS

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The Company continued to carry out its role as the head of the Group in 2015. The Company’s operating income for the year totalled €12.4 million as in 2014, and was derived from management services and expertise provided to the subsidiaries of the Assystem Group. Profit for the period amounted to €93.2 million in 2015 compared to a profit of €14.0 million in 2014. The balance sheet total stands at €631.1 million as at 31 December 2015, up by €69.7 million compared to 31 December 2014. The Company had no employees as at 31 December 2015.

In addition, Assystem SA acquired 40% of shares in the Plast Concept company on 17 November 2015 for an amount of €2,498 thousand. As at 31 December 2015, Assystem SA either directly or indirectly held 100% of the shares and voting rights of its main operating subsidiaries, which are as follows: ● Assystem France, SAS incorporated under French law and its subsidiaries; ● Assystem Engineering and Operation Services, SAS incorporated under French law and its subsidiaries; ● Assystem International, SAS incorporated under French law; ● Assystem Investissements, SAS incorporated under French law; ● Assystem UK, incorporated under English law, and its subsidiaries,

3.3.1

EQUITY INVESTMENTS IN NEW SUBSIDIARIES

● Assystem Iberia, incorporated under Spanish law; ● Assystem Portugal, incorporated under Portuguese law;

During the year 2015, Assystem SA acquired the following holdings, previously held by other companies in the Group: ● 99.99% of shares in SCI du Pont Noir, acquired for €1,065 thousand; ● 100% of shares in Assystem Avenir purchased for €33 thousand; ● acquisition of 0.03% of the capital of Assystem Morocco for €130.

● Assystem Deutschland Holding and its subsidiaries (Assystem Gmbh, Berner & Mattner and Silver Atena), incorporated under German law;

● Assystem Romania, incorporated under Romanian law; ● Assystem Belgium, incorporated under Belgian law;

● MPH Global Services, incorporated under French law, and its subsidiaries;

● Assystem Canada, incorporated under Canadian law; ● SCI du Pont Noir, incorporated under French law.

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ASSYSTEM

FINANCIAL REPORT 2015