Europcar Mobility Group S.A. Consolidated financial statements for the year ended 31 December 2019 1 CONSOLIDATED STATEMENT OF INCOME ........................................................................................................................ 4 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ...................................................................................... 5 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ..................................................................................................7 CONSOLIDATED CASH FLOW STATEMENT ........................................................................................................................ 9 GENERAL OVERVIEW .............................................................................................................................. 11 GENERAL INFORMATION ...................................................................................................................................................................................................................... 11 MAIN EVENTS OF THE PERIOD ........................................................................................................................................................................................................... 11 SIGNIFICANT ACCOUNTING POLICIES ............................................................................................................................................................................................. 12 CHANGES IN SCOPE OF CONSOLIDATION ........................................................................................... 21 SCOPE OF CONSOLIDATION ................................................................................................................................................................................................................. 21 CHANGES OF SCOPE ................................................................................................................................................................................................................................. 22 MAIN INCOME STATEMENT ITEMS ..................................................................................................... 24 SEGMENT REPORTING AND GEOGRAPHICAL INFORMATION ............................................................................................................................................... 26 NETWORK AND HEAD OFFICE OVERHEAD COSTS ..................................................................................................................................................................... 30 NON-FLEET AMORTIZATION, DEPRECIATION AND IMPAIRMENT EXPENSE ................................................................................................................. 30 OTHER INCOME AND EXPENSE .......................................................................................................................................................................................................... 30 OTHER NON-RECURRING INCOME AND EXPENSES ................................................................................................................................................................... 31 NET FINANCING COSTS .......................................................................................................................................................................................................................... 31 INCOME TAX EXPENSE ........................................................................................................................................................................................................................... 32 EARNING PER SHARES ........................................................................................................................................................................................................................... 34 FLEET OF VEHICLES ............................................................................................................................... 34 THE FLEET OF VEHICLES RECORDED IN THE BALANCE SHEET .......................................................................................................................................... 36 FLEET HOLDING COSTS ......................................................................................................................................................................................................................... 37 FLEET OPERATING COSTS .................................................................................................................................................................................................................... 37 RECEIVABLES AND PAYABLES RELATED TO THE RENTAL FLEET ..................................................................................................................................... 38 GOODWILL, TANGIBLE AND INTANGIBLE ASSETS ........................................................................... 39 GOODWILL ................................................................................................................................................................................................................................................... 41 INTANGIBLE ASSETS ............................................................................................................................................................................................................................... 44 TANGIBLE ASSETS .................................................................................................................................................................................................................................... 46 OTHER COMPONENTS OF THE BALANCE SHEET AND ACTIVITY-RELATED COMMITMENTS . 47 INVENTORIES ............................................................................................................................................................................................................................................. 47 TRADE AND OTHER RECEIVABLES ................................................................................................................................................................................................... 47 TRADE PAYABLES AND OTHER LIABILITIES ................................................................................................................................................................................ 48 CHANGE IN NON-FLEET WORKING CAPITAL ............................................................................................................................................................................... 48 EQUITY-ACCOUNTED INVESTMENTS .............................................................................................................................................................................................. 49 OFF-BALANCE SHEET COMMITMENTS ........................................................................................................................................................................................... 49 CAPITAL AND RESERVES ........................................................................................................................ 51 SHARE CAPITAL AND ISSUANCE PREMIUMS ................................................................................................................................................................................ 51 TREASURY SHARES .................................................................................................................................................................................................................................. 53 FINANCING AND FINANCIAL RISK MANAGEMENT .......................................................................... 54 FINANCIAL ASSETS : ................................................................................................................................................................................................................................ 56 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH ...................................................................................................................................................... 57 FINANCIAL LIABILITIES ......................................................................................................................................................................................................................... 57 FINANCIAL RISK MANAGEMENT ....................................................................................................................................................................................................... 63 DERIVATIVE FINANCIAL INSTRUMENTS ....................................................................................................................................................................................... 70 OTHER INFORMATION RELATING TO FINANCIAL ASSETS AND LIABILITIES ................................................................................................................ 71 EMPLOYEE BENEFITS AND SHARE PAYMENTS ................................................................................. 74 PERSONNEL COSTS .................................................................................................................................................................................................................................