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FINANCIAL STATEMENTS
3
Statutory financial statements
3.2 CAPITAL TRANSACTIONS
3.2.1 Income
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
Capital gains on sale of equity investments/portfolio investments
52,184
7,446
79,066
Reversals of provisions
16,637
40,085
24,320
Other income
16,833
36,552
6,957
TOTAL
85,653
84,083
110,343
3.2.2 Expenses
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
Losses on the sale of portfolio investments
3,787
1
2,572
Provisions for impairment
15,886
37,022
17,568
Other expenses
160
0
1,607
TOTAL
19,834
37,023
21,747
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
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
EXTRAORDINARY EXPENSES
49
118
52
3.2.5 Extraordinary income
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
EXTRAORDINARY INCOME
97
142
98
NOTE 4
Other information
4.1
EMPLOYEES
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.
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.
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ALTAMIR 2016