ASSYSTEM_Registration_Document_2017

6

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

OFF-BALANCE SHEET COMMITMENTS

NOTE 13

At 31 December 2017, Management considered that there were no existing off-balance sheet commitments, other than those set out below, that would be likely to have a material impact on the current or future financial position of the Assystem Group.

13.1 Operating leases The table below shows minimum future lease payments due under non-cancellable operating leases:

Due in less than 1 year

Due in 1 to 5 years

Due beyond 5 years

Total

In millions of euros

Minimum future lease payments at 31 December 2017

7.1 4.1 3.0

5.4 2.8 2.6

0.1 0.1

12.6

Real estate

7.0 5.6

Other

-

Minimum future lease payments at 31 December 2016

19.4 13.1

24.3 17.2

0.7 0.7

44.4 31.0 13.4

Real estate

Other

6.3

7.1

-

13.2 Other commitments

Commitments given

Commitments received

Guarantees received for payments relating to the sale of securities

Deposits, guarantees and sureties

Deposits, guarantees and sureties

Unused credit facilities

Collateral

In millions of euros Holding company

27.9

- - - - -

8.1

- - - - -

120.0

France

2.0 0.9 4.4 0.1

- - - -

- - - -

United Kingdom

AMEA Other Total

35.3

8.1

120.0

The commitments given by Assystem’s holding company include €6.5 million in commitments for subsidiaries sold as part of the transfer of control of GPS, which have been counter-guaranteed (recognised in commitments received) by Assystem Technologies, an Assystem Technologies Groupe subsidiary (see Note 6.4 – Assystem Technologies Groupe shares and convertible bonds).

SIGNIFICANT EVENTS AFTER THE REPORTING DATE

NOTE 14

ADDITIONAL INVESTMENT IN ASSYSTEM TECHNOLOGIES GROUPE On 31 January 2018 the Group took up €60.72 million worth of shares and convertible bonds (split into 50% ordinary shares and 50% convertible bonds with a capitalisable 9% annual coupon) issued by Assystem Technologies Groupe (“ATG”) as part of equity and quasi-equity financing raised to help fund the acquisition of SQS Software Quality Systems AG (“SQS”) by an ATG subsidiary. Consequently, Assystem now holds a 38.16% interest in ATG’s capital and 38.17% of its equity and quasi-equity instruments. In order to finance this additional investment, the Group (i) put in place a €30 million medium-to-long term bullet loan repayable in September 2022 and (ii) drew down €30 million of its renewable credit facility set up in September 2017. At the same time, the maximum amount of the revolving credit facility was increased from €120 million to €150 million. The extended €150 million revolving credit facility is subject to an early repayment clause based on the same covenant that applies to the Group’s other medium-to-long-term debt (see Note 8.2 – Bond debt and other financial liabilities).

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ASSYSTEM

REGISTRATION DOCUMENT 2017