Plastic Omnium - 2020 Universal Registration Document

2020 STATUTORY FINANCIAL STATEMENTS Notes to the statutory financial statements PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2020 285 P - INCOME TAX In thousands of euros 2020 Results Current portion Non-operating items Net * Profit before tax 98,784 1,823 100,607 * Tax adjustments (76,883) (1,156) (78,039) = Base 21,901 667 22,568 Theoretical tax (32%) (7,013) (214) (7,227) INCOME AFTER TAX AT THEORETICAL (STANDARD) RATE 91,771 1,609 93,380 Impact of Group relief - - 8,480 Other tax impacts - - (4,591) TOTAL CORPORATE INCOME TAX - - 3,889 INCOME AFTER TAX - - 104,496 Compagnie Plastic Omnium is the parent company of a tax consolidation group comprising 17 entities. The tax consolidation impact for 2020 was income of €8.4 million. The other impacts of €4.6 million mainly represent income tax on the share of the individual carryforward with respect to previous fiscal years, charged to the fiscal year 2019 profit for tax purposes. The tax group has tax loss carryforwards totaling €55.9 million (excluding the loss from the widened basis of €2.4 million), equivalent to future tax savings of €14.4 million. Compagnie Plastic Omnium SE also reversed the €1 million tax provision to adjust the amount of carryforwards used by the Group and likely to be offset subsequently by its subsidiaries. Unrecognized deferred tax assets and liabilities, excluding tax loss carryforwards, calculated at a tax rate of 32.02%, broke down as follows at December 31, 2020: In thousands of euros 2020 Translation adjustment on FX payables 3 Translation adjustment on FX receivables (165) TOTAL NET DEFERRED TAX ASSET (162) OTHER DISCLOSURES OFF-BALANCE SHEET COMMITMENTS Commitments given In thousands of euros 2020 Unused euro credit lines (1) 30,000 Unused GBP credit lines (1) 44,392 Endorsements, guarantees and guarantees given (1) 290,249 Collateral - TOTAL 364,641 Guarantees given to banks on behalf of subsidiaries as part of their financing. (1)