138 / 198
FINANCIAL STATEMENTS
6
PARENT COMPANY FINANCIAL STATEMENTS
NOTE 5
PROVISIONS
In thousands of euros
Amount at
beginning of year
Increases
Decreases
Amount
at year-end
Provisions for foreign exchange losses
13
902
13
902
Other provisions for contingencies and charges
(1)
2,320
934
2,215
1,039
TOTAL PROVISIONS FOR CONTINGENCIES AND CHARGES
2,333
1,836
2,228
1,941
Provisions for impairment in value of intangible assets
28
–
–
28
Provisions for impairment in value of property, plant and equipment
188
–
–
188
Provisions for shares in subsidiaries and affiliates
(2)
55,774
4,679
40,369
20,084
Provisions for loans
(3)
1,139
752
1,891
Sub-total: Provisions for fixed assets
57,129
5,431
40,369
22,191
Provisions for impairment in value of trade receivables
199
–
–
199
Provisions for impairment in value of current accounts of subsidiaries
(4)
3,091
–
2,686
405
Provisions for impairment in value of sundry debtors
(5)
391
–
–
391
Sub-total: Provisions for current assets
3,681
–
2,686
995
TOTAL PROVISIONS FOR IMPAIRMENT IN VALUE
60,810
5,431
43,055
23,186
TOTAL PROVISIONS
63,143
7,267
45,283
25,127
(1) Other provisions for contingencies and charges at 31 December 2015 consisted of (i) a €554 thousand provision recorded to cover the probable costs that the Company will incur in
respect of the current free share award plans, and (ii) provisions for risks relating to subsidiaries, concerning Assystem Shanghai, Assystem Australia and Assystem Italy and amounting to
€357 thousand, €55 thousand and €73 thousand respectively.
(2) The shares in the following subsidiaries were written down by the following amounts in 2015:
•
Assystem Iberia: €2,562 thousand;
•
Assystem Canada: €1,591 thousand;
•
Assystem International: €413 thousand.
Reversals of provisions for shares in subsidiaries and affiliates related to the following companies:
•
Assystem France (€37 million). This provision was originally recognised in 2009 following the partial asset transfer carried out by Assystem France to one of its sister companies, Assystem
Engineering and Operation Services. It was reversed in 2015 because the current outlook for Assystem France is such that the discounted future cash flows are now estimated to represent
more than the gross carrying amount of the shares in this subsidiary recorded in Assystem SA’s balance sheet.
•
Assystem Innovation (€3,358 thousand), following the sale of the shares concerned.
•
Assystem Polska (€11 thousand), following this company’s liquidation.
(3) The loan granted to a Canadian subsidiary has been written down in full. During 2015, the loan granted to Assystem US was written down by €752 thousand.
(4) Following a debt waiver granted to Assystem Solutions DMCC, Assystem SA reversed the entire amount of the €2,437 thousand provision previously recognised in relation to this subsidiary’s
current account. In addition, a €248 thousand provision reversal was recorded under this item following the liquidation of Assystem Polska.
(5) This provision concerns dividends not received from a Moroccan subsidiary.
ASSYSTEM
FINANCIAL REPORT
2015
138