Iliad : Consolidated Accounts H1 2017

ILIAD GROUP CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED JUNE 30, 2017 CONTENTS

INTERIM CONSOLIDATED INCOME STATEMENT 1

INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2

INTERIM CONSOLIDATED BALANCE SHEET - ASSETS 3

INTERIM CONSOLIDATED BALANCE SHEET - EQUITY AND LIABILITIES 4

INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 5

INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS 6

NOTE 1: SIGNIFICANT EVENTS IN FIRST-HALF 2017 7

NOTE 2: ACCOUNTING PRINCIPLES AND POLICIES (IFRS) 8

NOTE 3: SEGMENT INFORMATION 12

NOTE 4: ANALYSIS OF THE STATEMENT OF CASH FLOWS 13

NOTE 5: CAPITAL EXPENDITURE 15

NOTE 6: SHARE CAPITAL AND DIVIDENDS 17

NOTE 7: BORROWINGS 18

NOTE 8: PROVISIONS 21

NOTE 9: OTHER NON-CURRENT LIABILITIES 22

NOTE 10: COMMITMENTS 23

NOTE 11: FINANCIAL RISK MANAGEMENT 26

NOTE 12: RELATED-PARTY TRANSACTIONS 27

NOTE 13: EVENTS AFTER THE REPORTING DATE 29

INTERIM CONSOLIDATED INCOME STATEMENT

In € thousands	Six months to June 30, 2017
Revenues	2,464,008
Purchases used in production	(1,157,383)
Payroll costs	(130,567)
External charges	(198,648)
Taxes other than on income	(65,454)
Additions to provisions	(29,099)
Other income and expenses from operations, net	(8,220)
EBITDA(1)	874,637
Share-based payment expense	(314)
Depreciation, amortization and provisions for impairment of
non-current assets	(444,185)
Profit from ordinary activities	430,138
Other operating income and expense, net	(618)
Operating profit	429,520
Income from cash and cash equivalents	5
Finance costs, gross	(13,480)
Finance costs, net	(13,475)
Other financial income and expense, net	(33,238)
Corporate income tax	(150,882)
Share of profit of equity-accounted investees	638
Profit for the period	232,563
Profit for the period attributable to:	227,114
Owners of the Company
Minority interests	5,449
Earnings per share attributable to owners of the Company (in €):	3.86
Basic earnings per share
Diluted earnings per share	3.78

Six months to June 30, 2016
2,296,934 (1,134,899) (119,510) (164,464) (49,072) (21,495) 1,046
808,540
(1,180) (447,174)
360,186
(2,982)
357,204
92 (26,209) (26,117) (22,270) (118,552) 183
190,448
189,266 1,182
3.23 3.16

(1) See definition on page 8.

INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

In € thousands	Six months to June 30, 2017
PROFIT FOR THE PERIOD Items that may be subsequently reclassified to profit: Fair value remeasurement of interest rate and currency hedging instruments Items that will not be reclassified to profit: Post-employment benefit obligations (IAS 19 revised): impact of changes in actuarial assumptions Tax effect Tax effect Total comprehensive income for the period	232,563
	(1,554)
	535
	(1,019)
	0
	0
	0
	231,544
Total comprehensive income for the period attributable to:	226,095
Owners of the Company
Minority interests	5,449

Six months to June 30, 2016

190,448 3,032 (1,044) 1,988 (3,176) 1,094 (2,082) 190,354

189,184 1,170

INTERIM CONSOLIDATED BALANCE SHEET - ASSETS

In € thousands	Note	At June 30, 2017
Goodwill	5	214,818
Intangible assets	5	3,107,603
Property, plant and equipment	5	4,061,559
Investments in equity-accounted investees		15,547
Other long-term financial assets		19,339
Deferred income tax assets		11,326
TOTAL NON-CURRENT ASSETS	7,430,192
Inventories	4	21,244
Current income tax assets		0
Trade and other receivables		663,716
Other short-term financial assets		391
Cash and cash equivalents		153,733
TOTAL CURRENT ASSETS	839,084
ASSETS HELD FOR SALE	19,466
TOTAL ASSETS	8,288,742

At Dec. 31, 2016

214,818 3,241,714 3,761,385 14,723 18,513 11,131 0

7,262,284

14,274 20,553 674,190 246 238,540

947,803

21,428

8,231,515