NEOPOST - 2018 Registration document
6
Financial statements
Consolidated financial statements
The exchange rates for the main Group’s main currencies are as follows:
31 January 2019
31 January 2018
Period end
Average
Period end
Average
United States dollar (USD)
1.1488
1.1750
1.2457
1.1424
Pound sterling (GBP)
0.8758
0.8850
0.8791
0.8779
Canadian dollar (CAD)
1.5109
1.5305
1.5290
1.4737
Swiss franc (CHF)
1.1409
1.1514
1.1631
1.1199
Japanese yen (JPY)
124.8100
129.5042
135.6000
127.7400
Norwegian krone (NOK)
9.6623
9.6103
9.5620
9.3820
Swedish krone (SEK)
10.3730
10.2941
9.7645
9.6624
Danish krone (DKK)
7.4657
7.4549
7.4419
7.4395
Australian dollar (AUD)
1.5787
1.5853
1.5357
1.4819
Singapore dollar (SGD)
1.5459
1.5875
1.6288
1.5661
Indian rupee (INR)
81.6860
80.9892
79.1800
73.9458
Brazilian real (BRL)
4.2041
4.3383
3.9368
3.6478
Chinese yuan (CNY)
7.7010
7.7999
7.8340
7.6699
Czech koruna (CZK)
25.7600
25.6602
25.2720
26.1964
Hungarian florin (HUF)
315.8800
319.7147
310.6500
309.2960
Polish zloty (PLN)
4.2736
4.2714
4.1503
4.2393
New-Zealand dollar (NZD)
1.6607
1.7062
1.6803
1.6052
Note 3
Scope and principles of consolidation
Accounting policies relating to the scope of consolidation The Group’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the country of operation. Financial statements of foreign companies have been restated to be compliant with Neopost group’s accounting principles. The consolidated balance sheet incorporates all items of assets and liabilities along with the results of consolidated companies. Intra-Group transactions and profits relating to these operations as well as intra-Group capital gains are eliminated. Subsidiaries controlled directly by the parent company or indirectly through other subsidiaries are consolidated using the full consolidation method. Stakes in associated companies over which the investor exerts significant influence are consolidated using the equity method. Significant influence is assumed when the investor controls directly or indirectly through subsidiaries 20% or more of the voting rights in the company in question. of consolidation The consolidated financial statements include the financial statements of Neopost S.A. and its subsidiaries. Unless otherwise stated, the subsidiaries are consolidated as from the date on which control is acquired by the Group and until the date on which control is transferred outside the Group. Control is the power to direct a company’s financial and operational policies in order to derive profit from its activities. 3-1: Changes in the scope 3-2:
Main changes in the scope of consolidation for the 2018 financial year are the following: The company Neopost Finans AB was merged in the • company Neopost Sverige AB; The company Neopost Digital Solutions USA was merged in • the company Neopost USA Inc.; The company Mailroom Holding Inc. acquired 100% of the • company Parcel Pending Inc. on 22 January 2019, fully consolidated since 31 January 2019; The company Mailroom Holding Inc. sold its 100% stake in • the company Quadient Data USA Inc. on 28 January 2019. Information on related parties Neopost owns a 35% stake in Docapost BPO IS and a 24% stake in AMS Investissement. The transactions with these companies, consolidated using the equity method, are not significant. Neopost also holds a 7.80% stake in X’Ange 2 and a 6.22% stake in Partech Entrepreneur II, all non-consolidated companies. The transactions with these companies are not significant. Other information relating to the scope of consolidation 3-3:
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REGISTRATION DOCUMENT 2018 / NEOPOST
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