ALTAMIR_REGISTRATION_DOCUMENT_2017
3
FINANCIAL STATEMENTS Statutory financial statements
2.4 EQUITY INVESTMENTS AND PORTFOLIO INVESTMENTS HELD AS NON-CURRENT ASSETS
Amount at start of year
Amount as of 31 December 2017
Financial year 2017 (in thousands of euros) Fractions of the portfolio valued: at cost below cost based on market price
Gross book value
Net book value
Estimated value
Gross book value
Net book value
Estimated value
0
0
0
0
0
0
93,032
90,849
157,720
68,768
68,768
115,732
based on net book value based on re-estimated net book value (Funds: A units)
284,814 10,265 90,408
280,756 10,265 89,780
509,766
456,602
456,593
640,221
(Funds: E and B units)
0
13
13
0
based on a yield or profitability measure
171,059
65,887
65,887
111,997
by other methods
20,230
2,101
2,101
20,230
2,039
2,039
TOTAL
498,749
473,752 840,647
611,500 593,299
869,989
Total related receivables PORTFOLIO TOTAL
34,817
33,817
33,936
24,223
24,223 617,522
24,585
533,566 507,569 874,583
635,722
894,574
Amount at start of year
Amount as of 31 December 2017
Provisions
25,997
18,200
Unrealised, unrecognised gains 277,052* * Unrealised, unrecognised gains include gains on investments held in the Apax France VIII-B, Apax France IX-B, Apax VIII LP, Apax IX LP, Apia Vista and Phénix funds. As these funds had drawn down on credit lines as of 31 December 2017, the amounts used to finance these investments were not fully paid by Altamir and, accordingly, are not included in gross book value and net book value. These credit-line financed investments are, however, included in the end-of-period value figures. 367,014*
CHANGES IN VALUE OF THE PORTFOLIO (NET BOOK VALUE AND ESTIMATED VALUE)
Portfolio value
Changes during the year (in thousands of euros) Amount at start of year Acquisitions during the year (1) Divestments during the year (2)
Netbook value
End-of-period value
507,569 175,730 -63,321
874,583 109,630 -138,342
Reversal of impairment on securities sold Gains on sale of securities
held at the start of the year acquired during the year
2,707
Change in provision for impairment of the portfolio
7,796
Other changes in unrealised gains on securities acquired during the year on securities acquired previously Distribution by portfolio companies Other accounting movements (3)
45,998
-10,253 617,522
CLOSING BALANCE 894,574 (1) The net book value corresponds to acquisitions undertaken by Altamir, and to Apax France VIII-B, Apax France IX-B, Apax VIII LP, Apax IX LP, Phénix, Apia Vista and Apia Ciprés capital calls less distributions. (2) The amounts indicated in the line “Divestments during the year” represent, for the column “Net book value”, the net book value of the assets sold and, for the column “End-of-period value”, their sale price. (3) The net book value amount corresponds to the change in E and B units in Apax VIII LP, Apax IX LP and Apax France VIII-B and to the change in B units in Apax France IX-B.
140 REGISTRATION DOCUMENT
• ALTAMIR 2017
www.altamir.fr
Made with FlippingBook - professional solution for displaying marketing and sales documents online