ASSYSTEM_Registration_Document_2017
FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS
SIGNIFICANT EVENTS OF THE YEAR
NOTE 2
convertible bonds maturing in 2027 and paying capitalisable interest at a rate of 9% per annum. Assystem’s interest in ATG’s equity and quasi-equity is recognised in the consolidated statement of financial position under “Assystem Technologies Groupe shares and convertible bonds”. The Company’s investment in ATG’s capital is accounted for by the equity method and its portion of ATG’s profit from 1 October to 31 December 2017 – which was recognised in the consolidated income statement under “Share of profit of Assystem Technologies Groupe” – amounted to €2.3 million. Income from ATG’s convertible bonds – recognised under “Income from Assystem Technologies Groupe convertible bonds” – totalled €1.5 million for the same period. The net cash proceeds recognised for 2017 on the transfer of control of GPS’s business came to €443.1 million, taking into account the sale price, the amount reinvested in ATG, GPS’s cash transferred on its deconsolidation, the repayment of intra-group receivables due to Assystem by GPS and the tax and other costs of the transaction.
The following significant events took place in 2017:
Transfer of control of the Global Production Solutions (GPS) business to the private equity firm Ardian On 28 September 2017, Assystem sold its GPS business to an entity controlled by an investment fund managed by the private equity firm, Ardian, for €550 million. The net disposal gain recognised in the consolidated financial statements (after taking into account transaction costs and the tax effect) totalled €375.4 million. The Group reinvested €124.28 million in the company that acquired GPS (Assystem Technologies Groupe – ATG), representing a 39.23% stake in ATG’s capital and a 39.24% interest in the total equity and quasi-equity raised by ATG to help finance the acquisition. This reinvestment took the form of €62.14 million worth of ordinary shares (excluding €0.3 million in transaction costs) and €62.14 million in
The disclosures required under IFRS 5 are presented below; NET ASSETS SOLD
2017
In millions of euros
Goodwill
124.7
Intangible assets
2.9
Property, plant and equipment Other non-current financial assets
13.7
9.9 5.8
Deferred tax assets Non-current assets Trade receivables Other receivables
157.0 201.5
33.2
Income tax receivables Cash and cash equivalents
2.8
6
20.5 258.0 415.0
Current assets Total assets
Pension and other employee benefit obligations
15.4
Long-term provisions
0.6 6.5
Other non-current liabilities
Non-current liabilities
22.5
Short-term debt and other current financial liabilities
8.6
Net receivables due to Assystem SA under intra-group current accounts
36.5
Short-term provisions
2.4
Trade payables
43.9
Other current liabilities Income tax liabilities Current liabilities Total liabilities Net assets sold
138.7
5.6
235.7 258.2 156.8
101
ASSYSTEM
REGISTRATION DOCUMENT 2017
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