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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
Subsequent to initial recognition, goodwill is carried at cost less any accumulated impairment losses (see the Section entitled “Goodwill”
below).
Additionally, the following principles apply to business combinations:
●
any contingent consideration is measured at fair value at the acquisition date, and any subsequent changes in the fair value of the
contingent consideration are recognised in profit;
●
acquisition-related costs are expensed as incurred; in accordance with IFRS 10, when the proportion of the equity in a subsidiary held
by non-controlling interests changes, the Group recognises directly in “Equity attributable to owners of the parent” any difference
between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received.
BUSINESS COMBINATIONS CARRIED OUT IN 2016
The Group considers that its acquisitions in 2016 did not individually
represent material amounts.
Global Product Solutions (GPS)
The Group acquired Aerotec Concept in France and Edison in the
United Kingdom. These acquisitions have respectively enabled Assystem
to (i) gain expertise in the airplane/helicopter refurbishment and
customisation market and (ii) broaden its client portfolio of leading
automotive sector players in the UK.
These companies’ aggregate contributions to the Group’s consolidated
revenue and profit for 2016 were €1.8 million and €0.3 million
respectively.
Energy & Infrastructure (E&I)
Assystem acquired Bâtir Group and Onyx in France, enabling it to
broaden its skills in construction engineering (for complex, industrial
and nuclear buildings) and large-scale infrastructure projects. It also
acquired Envy in Turkey, allowing it to consolidate its skills and client
portfolio in the international nuclear sector.
These companies’ aggregate contributions to the Group’s consolidated
revenue and profit for 2016 were €6.7 million and €1.5 million
respectively.
Cross put and call options exercisable in the medium or long term were
put in place in connection with the acquisitions of Aerotec Concept
and Envy (see Note 10 – Liabilities related to share acquisitions and
other non-current liabilities).
The fair values of the net assets acquired in the business combinations carried out in 2016 are shown in the table below.
In millions of euros
GPS
E&I
Total
Cash and cash equivalents
4.2
4.6
8.8
Other current and non-current assets
4.1
5.2
9.3
Total assets
8.3
9.8
18.1
Financial liabilities
2.6
0.3
2.9
Other current and non-current liabilities
5.3
5.8
11.1
Total liabilities
7.9
6.1
14.0
Net assets
0.4
3.7
4.1
Goodwill related to the acquisitions, as determined using the full goodwill method, breaks down as follows:
In millions of euros
GPS
E&I
Total
Portion of the purchase price paid in cash
12.6
17.9
30.5
Deferred purchase costs (cross put and call options and other)
4.9
9.2
14.1
Liabilities related to the present value of dividends
1.6
4.3
5.9
Fair value of Assystem SA shares delivered as consideration
0.4
–
0.4
Total purchase price
19.5
31.4
50.9
Fair value of net assets acquired
0.4
3.7
4.1
Goodwill
19.1
27.7
46.8
ASSYSTEM
REGISTRATION DOCUMENT
2016
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