DERICHEBOURG - Universal registration document 2018-2019

3

Group management report Earnings from businesses and financial position

Main Company data:

2019

2018

In millions of euros

Revenue

3.2

3.2

Operating results

(1.9) 27.1 25.2

(2.0) 50.5 48.4

Net financial income (loss)

Recurring profit (loss) before tax

Non-recurring gain (loss)

3.9

2.7

Income tax

(0.5) 28.6

17.3 68.5

Net profit (loss)

Revenue was stable compared to the previous fiscal year, as were operating expenses, so the operating loss (€(1.9) million) was very close to that of the previous year. Financial income was €23.4 million lower than last year. This was attributable to: - dividends received from subsidiaries – Derichebourg Environnement (lower than last year, at €26 million), Derichebourg Multiservices Holding (€12 million), Derichebourg Immobilier SCI (€3 million), Derichebourg Holding GmbH (€1 million) – and to provisions for a subsidiary's investment securities.

Non-recurring gain (loss) was positive at €3.9 million compared with €2.7 million last year. Until last year, corporate income tax constituted income for the parent company thanks to the tax consolidation mechanism and the existence of tax loss carry-forwards. From this fiscal year and given that all of the tax consolidation losses had been used up, it amounted to an expense of €0.5 million. Net profit (loss) was significantly positive at €28.6 million. In accordance with Article L. 441-6-1 of the French Commercial Code, the payment schedule for Derichebourg’s trade payables is shown below:

Due

Not yet due

Total

In millions of euros

Non-Group suppliers Intra-Group suppliers

0.1 0.5 0.6 2.3 2.9

0.1 0.5 0.6 2.3 2.9

Total

0.0

Outstanding invoices

Total suppliers and related accounts Derichebourg SA

0.0

The holding company does not have significant receivables relating to third-parties outside the Group (see schedule of receivables and payables presented in section 3.4 of the notes to the parent company financial statements). Furthermore: none of the expenses referred to in Article 39-4 of the GTC were p incurred over the fiscal year; the Company did not incur any research and development costs. The p Group’s research and development activities are detailed in 1.1.1.4 and 1.6.1.2; the following investments were made and thresholds crossed during p the course of the fiscal year: upwards: none, ● downwards: Derichebourg A&D Développement (disposal): 50% ● and 33.33% thresholds.

Outlook 3.2.5 Events occurring after year-end 3.2.5.1

As indicated in 3.1.6.4, on October 1, 2019, Derichebourg Multiservices Holding sold its shares in Derichebourg Services & Ingénierie Nucléaire to a player in the nuclear services and works industry.

DERICHEBOURG p 2018/2019 Universal Registration Document 96