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Consolidated Financial Statements for the Year Ended 31 December 2018

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Consolidated Financial Statements for the Year Ended 31 December 2018 Europcar Mobility Group S.A. Consolidated financial statements for the year ended 31 December 2018 1 CONSOLIDATED STATEMENT OF INCOME .............................................................................................................................................................................................. 4 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME......................................................................................................................................................... 5 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................................................................................................................................................... 6 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ..................................................................................................................................................................... 7 CONSOLIDATED CASH FLOW STATEMENT ............................................................................................................................................................................................. 9 NOTE 1. GENERAL OVERVIEW ........................................................................................................................... 11 1.1 GENERAL INFORMATION ................................................................................................................................................................................................................. 11 1.2 MAIN EVENTS OF THE PERIOD ...................................................................................................................................................................................................... 11 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES ............................................................................................. 12 2.1 PRINCIPLES OF ACCOUNT PREPARATION ................................................................................................................................................................................ 12 2.2 BASIS OF MEASUREMENT ................................................................................................................................................................................................................ 13 2.3 USE OF ESTIMATES AND JUDGMENTS ........................................................................................................................................................................................ 16 2.4 BASIS OF CONSOLIDATION .............................................................................................................................................................................................................. 16 2.5 RECLASSIFICATION OF EXCHANGE GAINS/LOSSES IN PROFIT AND LOSS .................................................................................................................. 18 2.6 FOREIGN CURRENCY TRANSLATION ........................................................................................................................................................................................... 18 2.7 GOODWILL .............................................................................................................................................................................................................................................. 19 2.8 INTANGIBLE ASSETS OTHER THAN GOODWILL ..................................................................................................................................................................... 19 2.9 PROPERTY, PLANT AND EQUIPMENT ......................................................................................................................................................................................... 20 2.10 RENTAL FLEET ...................................................................................................................................................................................................................................... 21 2.11 FINANCIAL ASSETS AND LIABILITIES ......................................................................................................................................................................................... 23 2.12 TREASURY SHARES ............................................................................................................................................................................................................................. 26 2.13 EMPLOYEE BENEFITS ........................................................................................................................................................................................................................ 26 2.14 PROVISIONS ............................................................................................................................................................................................................................................ 27 2.15 REVENUE ................................................................................................................................................................................................................................................. 28 2.16 EXPENSES ................................................................................................................................................................................................................................................ 28 2.17 OPTION PLAN AND SIMILAR ........................................................................................................................................................................................................... 29 2.18 OTHER NON-RECURRING INCOME AND EXPENSES .............................................................................................................................................................. 29 2.19 NET FINANCING COSTS ..................................................................................................................................................................................................................... 29 2.20 INCOME TAX BENEFIT/(EXPENSE) .............................................................................................................................................................................................. 30 2.21 EARNINGS PER SHARE ....................................................................................................................................................................................................................... 30 2.22 INDICATORS NOT DEFINED BY IFRS ............................................................................................................................................................................................ 30 NOTE 3. CHANGES IN SCOPE OF CONSOLIDATION ....................................................................................... 31 3.1 MAIN CHANGES IN THE SCOPE OF CONSOLIDATION AND THE EQUITY PORTFOLIO IN 2018 ........................................................................... 31 3.2 PURCHASE PRICE ALLOCATION RELATED TO 2017 MAIN ACQUISITIONS ................................................................................................................. 31 3.3 MAIN CHANGES IN THE SCOPE OF CONSOLIDATION AND THE EQUITY PORTFOLIO IN 2017 ........................................................................... 34 NOTE 4. SEGMENT REPORTING ........................................................................................................................ 35 NOTE 5. FLEET HOLDING COSTS ...................................................................................................................... 39 NOTE 6. FLEET OPERATING, RENTAL AND REVENUE RELATED COSTS ................................................... 39 NOTE 7. PERSONNEL COSTS .............................................................................................................................. 39 NOTE 8. SHARE-BASED PAYMENTS .................................................................................................................. 40 NOTE 9. NETWORK AND HEAD OFFICE OVERHEAD COSTS ........................................................................ 42 NOTE 10. AMORTIZATION, DEPRECIATION AND IMPAIRMENT EXPENSE ................................................ 42 NOTE 11. OTHER INCOME AND EXPENSES ...................................................................................................... 42 NOTE 12. OTHER NON-RECURRING INCOME AND EXPENSES ..................................................................... 43 NOTE 13. NET FINANCING COSTS ....................................................................................................................... 43 NOTE 14. TAX .......................................................................................................................................................... 44 NOTE 15. GOODWILL ............................................................................................................................................. 46 NOTE 16. INTANGIBLE ASSETS............................................................................................................................ 49 NOTE 17. PROPERTY, PLANT AND EQUIPMENT ..............................................................................................
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