Financial and CSR Report Attestation of the Persons Responsible for the Annual Report
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2016 Financial and CSR Report Attestation of the persons responsible for the annual report We, the undersigned, hereby attest that to the best of our knowledge the financial statements have been prepared in accordance with generally-accepted accounting principles and give a true and fair view of the assets, liabilities, financial position and results of operations of the company and of all consolidated companies, and that the management report attached here to presents a true and fair picture of the results and financial position of the company and of all consolidated companies as well as a description of the main risks and contingencies facing them. President and CEO Élisabeth Borne Chief Financial Officer Alain Le Duc II — GROUPE RATP CONTENTS Management Consolidated report financial RATP group organisation chart 5 statements Income statement 6 Statutory Auditors’ report 69 Workforce, environmental Consolidated statements and social information 13 of comprehensive income 70 Note on extra-financial Consolidated balance sheets 72 reporting methodology Period 2016 39 Consolidated statements of cash flows 73 Report by one of the Statutory Auditors 41 Consolidated statements of changes in equity 74 Notes to the consolidated financial statements 75 Financial President’s statements report Statutory Auditor’s report 127 Introduction 45 Balance sheet 128 Risk management and internal control and audit functions 48 Income statement 129 Internal financial and accounting Notes to the financial control procedures 60 statements 130 Appendices 62 Statutory Auditors’ report 67 FINANCIAL AND CSR REPORT 2016 — 3 Management report RATP group organisation chart p. 5 Income statement p. 6 Workforce, environmental and social information p. 13 Note on extra-financial reporting methodology p. 39 Report by one of the Statutory Auditors p. 41 RATP group organisation chart 31 December 2016 TELCITÉ 100% TELCITÉ NAO 100% NAXOS 100% SEDP 100% SADM 100% PROMO MÉTRO 100% REAL PROPERTY, MARKETING MARKETING REAL PROPERTY AND TELECOM DIISION AND TELECOMS ENGINEERING DIISION G RATP INTERNATIONAL 100% GROUPE SYSTRA 41.92% TRANSPORT DIISION WIWAY SOLUTIONS 2% IXXI TECSIDE 100% NEW COMPANIES 2016 IXXI 100% NAOCAP 100% ENGINEERIN METROLAB 0% RATP 100% FLEXCITÉ 60% FLEXCITÉ 91 100% DÉVELOPPEMENT FLEXCIT 94 97% FLEXCITÉ 77 100% FLEXCITÉ TAD 100% FLEXCITÉ 93 100% TVM 100% FLEXCITÉ 95 100% MOBICITÉ 100% FLEXCITÉ 9 TSE 100% CTY 100% FLEXCITÉ 92 100% EM SERVICES 0% EMS RENNES 100% JACQUEMARD ET CIE 100% SQYBUS 10% ORLYVAL SERVICE 99% 22% STIIMMO 20% TP2A 1% 0% RATP DE FRANCE CARS SAINT MARTIN 88.75% INESTISSEMENTS 100% ODULYS 35% RATP DE FRANCE 2% SERVICES 100% LEBAS LARIDANT 100% SCI LLI 98% CTVMI 100% ESCAPADE 6% SCI FONCIÈRE RD 100% OYAGE DUPAS LEBEDA 100% CÉOBUS 100% AENTOUR 100% CARS PERRIER 100% OYAGES TAUET 100% AUTOCARS 0% CEMIN DE FER DU CAMBRSIS 100% SCI SOFITIM 0% CAMBRSIS 61% CAMBRSIS BUS 100% TIM BUS 00% TRAM DI FIRENE 20% STIO 0% GEST SPA 100% CITÉ BLEUE 0% AUTOLINE TOSCANE 100% GEMBUS 100% LFI 111% TFT SPA 100% CARS DUNOIS 100% RATP DE GENOVA 100% VOYAGES DUNOIS 100% LATIUM CILIA 1% ALPBUS FOURNIER 100% HELVÉCIE SA 100% CAMPAGNE RATP DE SUISSE TP 100% MOBILITÉS 100% RDK LLC (Educational City) 0% MOULINS MOBILITÉS 100% RATP DE SAUDI ARABIA 95% STDM 100% 5% STI ALLIER 100% BOURNEMOUTH STI CENTRE 100% TRANSPORT 001% STI HAUTE-SAVOIE 100% LONDON UNITED BUSWAYS 100% STU BOURGES 100% T BAT BUS COMPANY 100% R STU VIERZON 100% O P METROLINK 100% S VIENNE MOBILITÉS 0% N H R RICHMOND LTD 100% A STILE 100% R SELWYNS 100% T CTCM CARLEVILLE- MÉZIÈRES 100% LONDON SOVEREIGN 100% MATEM 1% TOT THE ORIGINAL LONDON SIGHT TOUR 100% STI NIÈVRE 100% 0% CTB 100% MC DONALD RDMT DC 20% TRANSIT ASS. STS 100% 1% RDMT TUCSON 20% CTLB 100% 0% FULLINGTON AUTO CTVH 100% BUS COMPANY 0% CTPL 0% RDSL URBAN 97.4% RDSL URBAN NY 100% CTPC 100% SLT-USA 100% 26% CTGMA 100% DL ENTREPRISE 100% TRANSPORTS FINAND 100% AUTOCARS FINAND PARMENTIER 100% 0% AUTOCARS FINAND 100% LES CARS CARLOT 100% 0% 0% CSR RATP DE ITALIA 100% RATP DE SUISSE 100% RDK SAS 0% RATP DE MIDDLE EAST 100% PTC 20% RATP DE UK 100% RDGS 100% RATP DO BRASIL 100% RATP DE USA LLC 100% SLT 100% SELT 100% CASA TRAM 100% 1% EL DJAZAÏR 100% SETRAM 8% RATP DE MANILLE 99.99% NANJING ANQING 73.78% 1% TRAMWAY HONG KONG 99% BOMBELA OPERATING VTCL 0% NANJING JV 49% NANJING HUAIBEI 2% COMPANY 1% ONG KONG TRAMWAY VTR CINA 100% VTR CONSULTING 100% VEOLIA TRANSPORT ENGINEERING 100% RATP ASIA 0% VTR KOREA 100% SÉOUL LIGNE 2% VTR INDIA 100% MUMBAY 6% FINANCIAL AND CSR REPORT 2016 — 5 Management report Income statement RATP group (“the Group”) is a major public transport provider in France, operating in towns and suburbs and particularly in the Île-de-France region. The parent company, Régie autonome des transports parisiens (RATP), is a State-owned Industrial and commercial public utility (Epic) incorporated pursuant to the French law dated 21 March, 1948. It is a legal entity under public law registered with the Paris Trade and companies register (RCS). Its head office is located at 54, quai de la Râpée, 75012 Paris. The aim of RATP is primarily to run a public transport service in Île-de-France and its purpose, fixed by law No. 2009-1503 dated 8 December, 2009 (French law on public passenger services by rail), is to manage the network infrastructure assigned to the public passenger transport services. Income statement assets. As RATP was not subject to corporate income tax at the time 1 Main trends in 2016 the subsidies were awarded before 1 January 2016, it was not in a 1.1 FOR TRANSPORT position to opt for the optional scheme under article 42-f of the CGI. As a result, the DLF (French tax authorities) consider that the RATP subsidies awarded to RATP before 1 January 2016 relate to pre-tax (breakdown of RATP’s parent company financial years and are therefore not taxable. statements) Income tax expense was therefore zero for the duration of the contract. The RATP and Île-de-France transport authority finalised Clarification of RATP’s tax status their discussions in order to sign an amendment taking into account RATP was notified by a letter from the Minister for Finance and the tax status clarification (income tax and payroll tax). Public Accounts dated 3 March 2016 that, as a public institution In terms of consolidation, the opening balance sheet generates engaged in gainful activities, it is subject to the same taxes and duties deferred tax assets over a long period, recognised in opening equity as private undertakings engaged in the same operations. for the amount of €537 million. Discounting of receivables for 2016 RATP is therefore subjected to corporate income tax and similar taxes generates a net tax expense of €22 million. (apprenticeship tax and tax on company vehicles). RATP also considers that this deadline includes being subject to payroll tax from RATP’s financial position the fiscal year beginning 1 January 2016. RATP’s revenue decreased by 1.7% compared to 2015, taking into In October 2016, the French tax authorities (DLF) specified the terms account in particular the loss of €100 million following the 2016-2020 of taxation for corporate income tax, in particular regarding the agreement between the Île-de-France transport authority and RATP. opening tax balance sheet and the depreciation rules for fixed assets. The increase in the service offer represents €10 million, or +0.2%. The index used to revise the RATP compensation (Île-de-France Prior to the entry into taxation on 1 January 2016, RATP therefore transport authority index) was null. revalued on a tax-free basis the assets and liabilities forming the balance sheet at 31 December 2015 at their market value. This In addition to the loss and with the impact of payroll tax, the appren- corresponds to the tax value of the assets in the opening balance ticeship tax and French tax credit on payroll costs (CICE), EBITDA fell sheet. The “tax” revaluation surplus resulting from the difference by €118 million. between the reassessed value and the carrying amount of the assets Likewise, operating income fell by €144 million taking into account, appearing in the opening balance sheet is monitored by a primarily, in addition to EBITDA, the change in net allocations to non- accounting procedure. It generates a tax depreciation thus used provisions and depreciation (–€40 million). solely for the calculation of tax. Recurring net income was €134 million in 2016, compared with In the case of equipment subsidies granted to businesses by the €347 million in 2015, representing a decrease of €213 million. European Union, the State, public authorities or any other public Although it benefited from a fall in financial expenses (+€9 million) body and allocated to the creation or acquisition of fixed assets, as a result of lower long-term rates and reversed average outstanding article 42-f of the French general tax code (CGI) provides that these net debt, it was impacted by exceptional depreciation (–€63 million) subsidies may be taxed as depreciation for the portion of the subsidy and the drop in net allocations to provisions and depreciation allocated to depreciable fixed assets and, over a period of ten years, (–€40 million). for the portion of the subsidy allocated to non-depreciable fixed 6 — RATP GROUP Given the impact of non-recurring items in 2016 (compensation paid • in Italy, the Tuscany contract awarded to RATP Dev in March 2016 to suppliers –€8 million) and in 2015 (Logis-Transports partial asset was canceled by the Administrative Court of Tuscany last October contribution of €31 million, Voltaire disposal for €9 million, Nogent due to non-compliant financial bids from both bidders.