ALTAMIR_REGISTRATION_DOCUMENT_2017
3
FINANCIAL STATEMENTS
Consolidated financial statements
NOTE 14 Other current financial liabilities
As of 31 December 2017, this line item of €65.9m primarily included debts to Apax France IX-B (€38.9m) and outstandings under credit lines used by Apax France VIII-B (€18m) and Altamir (€1m). This line item also includes Altamir’s bank overdraft of €7.98m.
NOTE 15 Valuation differences on divestments during the year
31/12/2017 138,342,495 135,635,898 2,706,597 6,611,850 -3,905,253
31/12/2016 205,040,489 193,907,477
(in euros) Sale price
Fair value at start of year IMPACT ON INCOME
11,133,012 23,015,963 -11,882,951
Of which positive price spread on divestments Of which negative price spread on divestments
NOTE 16 Other portfolio income
Other portfolio income is detailed as follows:
31/12/2017 287,969 1,244,859 1,532,827
31/12/2016
(in euros)
Interest and other portfolio income received
102,891
Dividends
1,350,373 1,453,264
TOTAL
NOTE 17 Purchases and other external expenses (incl. tax)
Purchases and other external expenses broke down as follows:
31/12/2017 10,021,152 6,331,491 1,266,298 2,423,363
31/12/2016 9,196,977 5,791,549 1,158,310 2,247,118 133,184 686,477 11,772,021 8,188,840 3,583,181 172,147 20,968,997 238,486,466 631,338,629 869,825,095
(in euros)
Direct fees (incl. tax): (1)
Altamir Gérance management fees (excl. tax)
Non-recoverable VAT on Altamir Gérance management fees
Other fees and expenses (incl. tax)
including fees related to portfolio companies held directly
-58,986 708,628 568,966
including recharges for accounting, financial and investor relations services
including fees related to overdraft lines
Indirect fees (incl. tax):
15,120,717 11,153,958 3,966,759 25,141,871 179,107,957 815,751,407
Management fees charged by Apax Partners SAS and Apax Partners LLP Operating costs of the funds managed by Apax Partners SAS and Apax Partners LLP
TOTAL EXPENSES AND EXTERNAL PURCHASES (2)
Direct investments at cost
Subscription commitments in the Apax funds CAPITAL COMMITTED AND INVESTED
994,859,364
(1)/Average NAV between N and N-1
1.27% 2.70%
1.25% 2.78%
(2)/Average capital committed and invested between N and N-1
122 REGISTRATION DOCUMENT
• ALTAMIR 2017
www.altamir.fr
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