eutelsat communications société anonyme with a capital of ... · pdf filecalled...

Eutelsat Communications 1 Comptes Sociaux EC au 30 Juin 2017 VDEF.docx
Eutelsat Communications "Socit anonyme" with a capital of 232,774,635 euros Registered office: 70, rue Balard 75015 Paris 481 043 040 R.C.S. Paris ANNUAL FINANCIAL STATEMENTS AS OF 30 JUNE 2017 Balance sheets as of 30 June 2016 and 30 June 2017 3
Income statements for the periods ended 30 June 2016 and 30 June 2017 2017 5
Statements of cash flows for the periods ended 30 June 2016 and 30 June 2017 6
Notes to the annual financial statements 2017 7
file://///eutelsat.fr/office/data/projects/ANNEXES/Cloture%20au%2030-06-16/ECOM/SOCIAUX/Draft%20Comptes%20Sociaux%20EC%20nouvelle%20version%20au%2030%20Juin%202016%20VDEF.docx

BALANCE SHEET
(In thousands of euros) Note Financial year
2016
Financial year
2017
Called up share capital not paid
INTANGIBLE ASSETS
Setup costs
Development expenses
Franchise, patents, trademarks and similar rights
Goodwill
Other intangibles
Advances and prepayments on intangibles
TANGIBLE ASSETS
Land
Buildings
Technical equipment, plant and machinery
Other tangibles
Construction in progress
Prepayments and advances
FINANCIAL ASSETS 3
Equity investments
Other equity interests 2,440,645 2,942,832
Receivables from equity interests
Other investments in securities 4,553 6,177
Loans 0
Other financial assets 136 9
FIXED ASSETS 2,445,334 2,949,018
STOCKS ANS WORK IN PROGRESS
Raw materials, supplies
Work-in-progress goods
Work-in-progress services
Intermediate and finished goods
Trading goods
Advances and prepayments on orders 23 14
RECEIVABLES
Trade debtors and related accounts 818 297
Other debtors 4 242,612 224,345
Called up share capital unpaid
MISCELLANEOUS
Marketable securities 5 3,334 3,279
Cash at bank and in hand 5 809 988
PREPAID EXPENSES 6
Prepaid expenses 79 32
CURRENT ASSETS 247,675 228,955
Deferred loan issuance costs 6 2,574 2,202
Bond redemption premiums
Unrealised exchanged losses
GENERAL TOTAL 2,695,583 3,180,175
file://///eutelsat.fr/office/data/projects/ANNEXES/archives/Cloture%20au%2030-06-16/ECOM/SOCIAUX/DRAFT/Draft%20Comptes%20Sociaux%20EC%20nouvelle%20version%20au%2030%20Juin%202016%20VDEF.docx

BALANCE SHEET
(In thousands of euros) Notes Financial year
2016
Financial year
2017
Capital Stock - Shares 232,775 232,775
Share or merger premium 738,087 1,237,648
Revaluation reserve
Legal reserve 23,277 23,277
Statutory and legal reserves
Regulated reserves
Other reserves
Retained earnings 828,508 834,821
RESULT FOR THE YEAR (gain or loss) 262,141 244,999
Investment grants
Tax related provisions 467 467
SHAREHOLDERS EQUITY 7 2,085,256 2,573,987
Income from issues of equity interests
Contingent advances
OTHER SHAREHOLDERS EQUITY
Provisions for risks
Provisions for expenses 170 102
PROVISIONS 8 170 102
FINANCIAL DEBT
Convertible debt
Other bonds *
Bank loans * 9 600,315 600,285
Borrowings and other financial liabilities
Advances and deposits from customers 11 1
OPERATING CHARGES
Trade creditors and related accounts 2,276 2,234
Tax and social security payable 10 2,202 2,904
MISCELLANEOUS DEBT
Amounts payable for fixed assets and related accounts
Other creditors 15.1 5,341 650
PREPAID EXPENSES
Deferred revenues
DEBT 610,144 606,074
Unrealised exchange gains 13 12
GENERAL TOTAL 2,695,583 3,180,175
* including portion maturing within 1 year 315 285

INCOME STATEMENTS
(In thousands of euros) Notes Financial year
2016 Financial year
2017 Sale of merchandise Sales of goods manufactured Sales of services rendered 3,708 1,790
NET SALES 12 3,708 1,790 Stocks of finished goods, and work in progress Own work capitalised Operating subsidies Write back of provisions and depreciation, transfers of expenses 6 370 174 Other income 0 0
OPERATING INCOME 4,078 1,964 Purchase of goods (including customs duties) Variation of inventories of bought-in goods Purchase of raw materials and other supplies Change in inventories (raw materials and supplies) Other purchases and external charges 6,631 6,576 Income tax, other taxes and assimilated 915 401 Wages 18.2 1,769 2,201 Social charges 18.2 630 758 Operating allowances 6
Fixed assets: amortisation 520 522
Fixed assets: depreciation
Current assets: amortisation and depreciation
Provisions 7
Other expenses 564 730
OPERATING CHARGES 11,036 11,188
OPERATING RESULT -6,958 -9,224
JOINT VENTURES
Share of profit or loss
Losses incurred or transferred profit
FINANCIAL INCOME 273,171 258,572 Income from investments 273,100 2,103 Income from other investments and loans 0 -1 Other interest receivable and similar income 7 256,468 Write back of provisions and transfers of expenses 61 Realised exchange gains 0 1 Gains from sales of marketable securities 3 FINANCIAL EXPENSES 9,108 5,633 Depreciation, amortisation and provisions 26 Interest payable and similar charges 9,107 5,597 Realised exchange losses 0 9 Losses from sales of marketable securities
FINANCIAL RESULT 13 264,063 252,939
NET RESULT BEFORE TAXES 257,105 243,715
EXCEPTIONAL INCOME 2,414 1,937 Exceptional income from operations Exceptional income from capital transactions 710 1,812 Write back of provisions and transfers of expenses 1,704 125 EXCEPTIONAL EXPENSES 3,462 347 Exceptional expenses from operations 0 0 Exceptional expenses from capital transactions 3,292 347 Exceptional depreciation, amortisation and provisions 170
EXCEPTIONAL RESULT 14 -1,048 1,590
Employees profit-sharing Income tax 15 -6,084 306
TOTAL INCOME 279,663 262,473
TOTAL EXPENSES 17,521 17,474
NET INCOME OR LOSS 262,141 244,999

STATEMENTS OF CASH FLOWS
(in thousands of euros) Notes 30 June 2016 30 June 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income 262,141 244,999
Adjustments for non-cash items:
Capital (gain)/loss on disposal of assets
Depreciation, amortisation and provisions -315 480
Other non-operating items -263,703 1,174
Changes in operating assets and liabilities:
Accounts receivable -691 521
Other current assets 1,095 -214,617
Accounts payable -142 134
Other payables -4,913 -4,174
Net cash flows provided by operating activities -6,529 28,518
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisitions of satellites and other property and equipment
Changes in other long-term assets
Equity investments and other movements in financial investments 1,626 -1,523
Net cash flows used in investing activities 1,626 -1,523
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES
Changes in capital
Distribution 7.1 -96,704 -255,828
Dividends received 13 272,102 1,812
Additional long-term and short-term debt 9 0 0
Reimbursements of long-term and short-term debt 9 0 0
Changes in borrowing -164,589 232,789
Free share plans 549 -239
Interest paid -9,568 -5,637
Interest received 998 291
Changes in other debt
Net cash flows provided by (used in) financing activities 2,789 -26,812
Impact of exchange rate 12 -1
Increase (decrease) in cash and cash equivalents -2,102 182
Cash and cash equivalents, beginning of period 3,922 1,820
Cash and cash equivalents, end of period 5 1,820 2,002

NOTES TO THE ANNUAL FINANCIAL STATEMENTS
GENERAL OVERVIEW NOTE 1.
1.1. Business description
The purpose of Eutelsat Communications S.A. (the Company or "Eutelsat") is to hold shares and provide
services to its equity interests. It is the parent company of the Eutelsat Communications Group (the
Group).
The Companys fiscal year runs for twelve months and ends on 30 June.
1.2. Key events during the period
On 10 May 2017, Eutelsat Communications S.A., which is Eutelsat Commu

eutelsat communications société anonyme with a capital of ... · pdf filecalled...

Documents