Plastic Omnium - 2018 Registration Document

5 2018 STATUTORY ACCOUNTS Notes to the statutory accounts www.plasticomnium.com PLASTIC OMNIUM 2018 REGISTRATION DOCUMENT 234 NOTES TO THE STATUTORY ACCOUNTS 5.4 In thousands of euros 2018 2017 Financial position Shares 8,914 9,059 Shareholders’ equity 1,242,506 1,194,105 Net cash and cash equivalents 257,059 20,464 Net non-current assets 1,533,152 1,803,356 TOTAL ASSETS 3,017,331 2,916,946 Businesses Operating revenue 49,672 43,994 Net operating income (loss) 2,210 (17,115) Income before non-operating items 213,651 81,851 Non-operating items 6,015 12,318 NET INCOME 231,797 111,728 EARNINGS PER SHARE (IN EUROS) 1.6 0.7 SIGNIFICANT EVENTS OF THE YEAR On December 18, 2018, Compagnie Plastic Omnium sold its subsidiary Plastic Omnium Environment BV to the consortium Latour Capital/Bpifrance (cf. Note C). On December 21, 2018 Compagnie Plastic Omnium issued a Schuldscheindarlehen private placement of €300 million to replace the bond issue of €250 million which matured on December 12, 2018. The company Plastic Omnium financed the increased participation of the Plastic Omnium Group in its subsidiary HBPO. ORGANIZATIONAL CHART In addition to the disposal of the environment business mentioned above, Compagnie Plastic Omnium invested €51 million in a capital increase for its subsidiary Plastic Omnium Auto Exteriors by contributing the equity interest represented by its shares in its subsidiary Plastic Omnium Equipamientos Exteriores SA, as part of the simplification of the corporate legal structure in Spain. CHANGE IN SHARE CAPITAL The Company undertook two capital reductions in 2018. In accordance with the authorization granted by the Combined ● Shareholders’ Meeting of April 28, 2016, the Board of Directors, at its meeting of July 19, 2018, decided to carry out a capital reduction on July 26, 2018 amounting to €66,636.78 corresponding to the cancellation of 1,110,613 shares each with a par value of €0.06. The capital was reduced to €8,991,969.42 and is divided into 149,866,107 shares, each with a par value of €0.06. At its meeting of October 30, 2018 the Board of Directors decided to ● carry out a capital reduction on November 8, 2018 amounting to €78,000 corresponding to the cancellation of 1,300,000 shares each with a par value of €0.06. The capital was reduced to €8,913,966.42 and is divided into 148,566,107 shares, each with a par value of €0.06. ACCOUNTING POLICIES The financial statements of Compagnie Plastic Omnium have been prepared in accordance with the provisions of the French Commercial Code and the French General Accounting Plan (ANC regulation 2014-03 of June 5, 2014 amended by No. 2018-07 of December 10, 2018). The annual financial statements incorporate Regulation 2015-05 of the French Accounting Standards Board (ANC) relating to forward financial instruments and hedging transactions. The accounting conventions for preparing and presenting the Company Statutory accounts have been applied in compliance with the following basic assumptions: going-concern; ● consistency of accounting principles; ● separation of accounting periods. ● The basic method used for the items presented in the accounts is the historical cost method.