DERICHEBOURG - Universal registration document 2018-2019

4

Financial statements Consolidated financial statements for the year ended September 30, 2019, in compliance with IFRS Notes

Aging of accounts receivable (gross values excluding doubtful receivables)

Total outstanding 09-30-19

Not due

<1 month

<4 months

>4 months

In millions of euros

Environmental Services

131.4 150.3

97.6 69.1

20.0 40.2

6.6

7.2

Business Services

30.0

11.0

Holding companies

4.6

4.3

0.1

0.2

Total

286.3

171.0

60.2

36.7

18.4

Despite the turbulent environment, the Group has not yet observed any significant increase in payment delays and customer credit risk is €1.9 million. The Group considers that its other loans do not constitute a substantial risk, except for certain receivables more than four months overdue.

risk practice is to only enter into a contract to sell when a purchase has been made. Three specialist companies, aluminum refiner Refinal, and ferrous metals traders Inorec and Coframétal, may make buy or sell commitments before finding a counterparty for the transaction. They may hedge these transactions on the London Metal Exchange. (Other Group companies may also hedge transactions on the LME, but this is exceptional). The Group may therefore have to sell its inventories of processed metal goods to its customers for less than the initial purchase price if the market price for these goods declines between the time of purchase and the time of sale. The volatility of the prices of different metals may create exceptional “price effects” which the Group endeavors to limit by holding low levels of stock.

Raw materials risk 4.12.6

In the normal course of its business, the Group enters into few forward contracts to buy or sell ferrous or non-ferrous metals, and these contracts generally do not require a firm price commitment beyond one month. Depending on whether metal prices rise or fall, the Group may have to purchase or sell at a price less favorable than when the contract was entered into to honor a contract. However, the Group's

Non-current provisions and provisions for commitments to employees 4.13 Change in non-current provisions 4.13.1

Foreign exchange differences

Reversals used

Write backs not used

Changes in scope (1)

Impact of IFRS 5

Other variation

09-30-18 Provisions

09-30-19

In millions of euros

Provisions for labor disputes Provisions for other disputes Provisions for URSSAF disputes

5.3 3.9 7.9 0.7 2.2 0.3 4.5 0.5

2.0 1.3 0.9 0.1 0.8

(1.6) (1.0)

(0.7)

5.0 2.8 8.9 0.6 2.6 0.3 3.7 0.0

(0.1)

(1.3)

0.0

Provisions for guarantees

(0.2) (0.3)

Provisions for service awards Provisions for restructuring

(0.1)

Environmental provisions

0.4

(1.3) (0.5)

0.1

Other non-current provisions

Total

25.3

5.5 (4.5)

(1.2)

(0.1)

(1.3)

0.0

0.1

23.7

See note 3 – Changes in consolidation scope. (1)

DERICHEBOURG p 2018/2019 Universal Registration Document 153