Altamir - Registration Document 2016

3

FINANCIAL STATEMENTS Statutory financial statements

3.2 CAPITAL TRANSACTIONS

3.2.1 Income

31/12/2014

31/12/2015

31/12/2016

(in thousands of euros)

Capital gains on sale of equity investments/portfolio investments

52,184 16,637 16,833 85,653

7,446

79,066 24,320

Reversals of provisions

40,085 36,552 84,083

Other income

6,957

TOTAL

110,343

3.2.2 Expenses

31/12/2014

31/12/2015

31/12/2016

(in thousands of euros)

Losses on the sale of portfolio investments

3,787 15,886

1

2,572 17,568 1,607 21,747

Provisions for impairment

37,022

Other expenses

160

0

TOTAL

19,834

37,023

The other expenses of €1,607k relate to the reversal of accrued interest on the payment of the Maisons du Monde receivable.

3.2.3 Corporation tax The Company opted for the status of SCR ( société de capital risque ) as of the financial year ended 31 December 1996. The legislation on SCRs applicable as of 2001 exempts all income from corporation tax.

3.2.4 Extraordinary expenses

31/12/2014

31/12/2015

31/12/2016

(in thousands of euros)

EXTRAORDINARY EXPENSES

49

118

52

3.2.5 Extraordinary income

31/12/2014

31/12/2015

31/12/2016

(in thousands of euros)

EXTRAORDINARY INCOME

97

142

98

NOTE 4 Other information

4.1

EMPLOYEES

The Company has positive retained earnings of €62,468, which correspond to the non-distributed income for the financial years 2011, 2012, 2013 and 2014 and to the 2015 dividend on treasury shares. The general partner and the Class B shareholders therefore have the right to receive a portion of distributable earnings, calculated in accordance with the method presented in paragraph 25 of the Company’s Articles of Association, specifically €15,268,690.

The Company has no employees, and no stock option plan in place.

4.2 RIGHTS OF THE GENERAL PARTNER AND CLASS B SHAREHOLDERS

The Company generated net income of €79,331,453.70 in 2016.

140 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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