Savencia : CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2017

AS OF JUNE 30, 2017

1. Condensed consolidated income statement 6 months

   In thousands of euro	2017	2016
   NET SALES	2 356 153	2 091 897
   Purchases adjusted for changes in inventory	-1 510 161	-1 299 271
   Personnel costs	-434 407	-411 413
   Depreciation and amortization	-61 441	-59 493
   Other current operating expense	-246 307	-235 629
   CURRENT OPERATING PROFIT	103 837	86 091
   Other operating expense	-2 224	-11 423
   Other operating income	2 944	2 029
   TOTAL OPERATING PROFIT	104 557	76 697
   Financial expense	-13 656	-20 638
   Financial income	7 995	3 598
   Group share of results of associates	-1 757	1 471
   PROFIT BEFORE TAX	97 139	61 128
   Income tax expense	-31 758	-26 962
   Net income from continuing operations	65 381	34 166
   Net income from discontinued operations	-	-
   NET INCOME	65 381	34 166
   Net income attributable to equity holders of the parent company	61 675	31 238
   Non-controlling interests	3 706	2 928
   EARNINGS PER SHARE
   Attributable to equity holders of the parent company :
   4,44	2,23
   4,35	2,18
   For continuing operations :
   4,44	2,23
   4,35	2,18

   • basic

   • diluted

   • basic

   • diluted

   CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 6 months

   In thousands of euro	2016
   NET INCOME	65 381	34 166
   Other comprehensive income:
   Foreign exchange differences(1)	-33 351	-4 325
   Change in fair value of available-for-sale financial assets	-183	1 605
   Change in fair value of cash flow hedges, net of taxes(2)	1 896	1 006
   Other changes	-	-471
   Share of associates and joint ventures in recyclable components	-198	-128
   Total recyclable components of other comprehensive income	-31 836	-2 313
   Actuarial gains and losses relating to employment benefit plans	3 525	-11 332
   Other changes	-	-
   Share of associates and joint ventures in non-recyclable components	78	-128
   Total non-recyclable components of other comprehensive income	3 603	-11 460
   Total other comprehensive income net of tax	-28 233	-13 773
   TOTAL COMPREHENSIVE INCOME NET OF TAXE	37 148	20 393
   Group share	33 210	17 504
   Non-controlling interests	3 938	2 889

2. Mainly relating to the following foreign currencies: USD, BRL, CNY, ARS.

3. Mainly relating to hedging of interest rates and raw materials

4. Consolidated statement of balance sheet
5. ASSETS

   In thousands of euro	June 30, 2017	December 31, 2016
   Intangible assets	430 097	434 163
   Property, plant and equipment	920 150	928 558
   Other financial assets	30 664	30 823
   Investments in associates	114 473	118 417
   Non-current derivative financial instruments	9 917	18 253
   Deferred tax assets	30 480	33 368
   TOTAL NON-CURRENT ASSETS	1 535 781	1 563 582
   Inventories and work in progress	525 435	462 461
   Trade and other receivables	782 400	797 047
   Tax receivable	36 314	36 469
   Current derivative financial instruments	8 350	6 948
   Other current financial assets	56 572	12 466
   Cash and cash equivalents	458 466	430 824
   TOTAL CURRENT ASSETS	1 867 537	1 746 215
   Assets held for sale or relating to discontinued operations	963	938
   TOTAL ASSETS	3 404 281	3 310 735

   EQUITY AND LIABILITIES

   In thousands of euro	June 30, 2017	December 31, 2016
   Paid-in capital	87 131	86 956
   Reserves	-41 300	-12 835
   Retained earnings	1 224 424	1 186 253
   GROUP SHARE OF EQUITY	1 270 255	1 260 374
   Non-controlling interests	106 153	101 312
   TOTAL EQUITY	1 376 408	1 361 686
   Provisions	105 883	110 609
   Non-current financial borrowings	270 305	196 573
   Other non-current liabilities	17 894	36 204
   Non-current derivative financial instruments	5 383	6 559
   Deferred tax liabilities	51 533	52 579
   TOTAL NON-CURRENT LIABILITIES	450 998	402 524
   Trade and other payables	891 463	932 687
   Tax payable	16 779	14 652
   Current derivative financial instruments	2 942	3 793
   Bank borrowings	665 609	595 347
   TOTAL CURRENT LIABILITIES	1 576 793	1 546 479
   Liabilities held for sale or relating to discontinued operations	82	46
   TOTAL LIABILITIES	2 027 873	1 949 049
   TOTAL EQUITY AND LIABILITIES	3 404 281	3 310 735