Avanquest - 2016 Financial Report

2 SUMMARIZED SIX-MONTH CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2015 Statement of comprehensive income

2.

SUMMARIZED SIX-MONTH CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2015 All information is expressed in thousands of euros, unless otherwise noted.

2.1 Statement of comprehensive income

12/31/2014 6 months Restated*

12/31/2015

Notes

(in thousands of euros)

NET REVENUES

5.1

71,579

51,509

Raw materials and purchases of goods Other purchases and external expenses

(29,691) (27,344)

(17,207) (21,619)

Taxes, fees and similar payments

(62)

(84)

Employee expenses

(12,554) (3,293) (5,300)

(11,341) (1,525) (4,478)

Depreciation and provisions (net of reversals) Other recurring operating income and expenses

RECURRING OPERATING INCOME Other operating income and expenses

(6,666)

(4,747) 5,997

5.2

(315)

OPERATING RESULT Net borrowing costs Other financial expenses Other financial income

(6,981)

1,251 (477)

(67)

(328)

(12)

55

1,149

FINANCIAL RESULT

5.3 5.4

(340) (703)

660

Tax expense

(458)

Share of profit or loss of associates

(61)

-

NET INCOME FROM CONTINUING OPERATIONS NET INCOME FROM DISCONTINUED OPERATIONS

(8,086)

1,453

5.5

557

-

NET RESULTS

(8,086) (8,086)

2,010

Share of equity owners of the parent company

(4,851)

Share of non-controlling interests

-

7,417

EARNINGS PER SHARE Net earnings per share, Group share ( in euros )

(0.02) (0.02) (8,086)

(0.18) (0.18) 2,010

Net earnings per share, Group share, after potential dilution ( in euros )

NET RESULT

Other items of the comprehensive income Exchange-rate differentials for foreign operations

(263)

587 399

Exchange-rate differentials on net investments in foreign operations

114

Gains (Losses) on hedging transactions

-

(120)

TOTAL OTHER ITEMS OF THE COMPREHENSIVE INCOME

(149)

866

COMPREHENSIVE INCOME

(8,235) (8,235)

2,876

Share of equity owners of the parent company

(4,966)

Share of non-controlling interests 7,841 * In application of IFRS 5, the activity of ProcessFlows Ltd has been restated from the consolidated figures for the fiscal years analyzed, and its results are presented on a separate line of the income statement, “Net income from discontinued operations”. All items of the comprehensive income are recyclable in profits/losses, except for the actuarial differences on retirement commitments. -

2

- 2015/2016 SIX-MONTH FINANCIAL REPORT