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Rothschild & Co | Annual Report 2017
187
1. Overview
4. Financial statements
3.
Management report
2. Business review
As at 31 December 2017, the Company’s capital comprised 77,262,472 shares and 145,040 of its investment certificates, both with a nominal value
of €2 each.
Treasury shares:
As at 31 December 2017, R&Co holds 145,040 of its own investment certificates (i.e. all the securities issued in this category) and 764,730 of its own
shares, including 24,000 shares held as part of the liquidity contract. As at 31 March 2017, R&Co held 909,534 own shares including 24,237 shares
held as part of the liquidity contract.
Note 8 – Provisions for contingencies and charges
In thousands of euro
01/04/2017 Charge for the
period
Recovery for the
period
(provision used)
Recovery for the
period
(provision
unused)
31/12/2017
Provisions for contingencies
396
–
(381)
(14)
1
– Insufficient hedging of foreign currency risk
15
–
–
(14)
1
– Legal dispute
381
–
(381)
–
–
Provisions for charges
5,396
–
(2,670)
–
2,726
(1)
TOTAL
5,792
–
(3,051)
(14)
2,727
(1) The provision for charges of €2,726 thousand corresponds to a deferred tax liability that has been recognised following the merger with Martin Maurel.
The accounting method for retirement commitments recommended by the French General Chart of Accounts was not applied in these accounts and would
not have had a material impact on the total assets or current income of the Company.
Note 9 – Borrowings and financial liabilities – banks
In thousands of euro
Total
< 1 year
Between 1
and 5 years
> 5 years
Medium-term loan
130,725
130,725
–
–
US$ denominated loans
877
877
–
–
Accrued interest
309
309
–
–
TOTAL
131,910
131,910
–
–
These loans and credits were contracted at a variable rate. In principal, borrowings were amortised or repaid during the period for an amount of €28,050
thousand (excluding interest), while the new loans contracted during the period amounted to €66,723 thousand, respectively.
Note 10 – Operating liabilities
In thousands of euro
Total
< 1 year
Between 1
and 5 years
> 5 years
Accounts payable
(1)
2,188
2,188
–
–
Tax and social liabilities
(2)
9,401
9,401
–
–
TOTAL
11,589
11,589
–
–
(1) Of which accrued expenses: €1,948 thousand.
(2) Of which accrued expenses: €1,159 thousand.
Note 11 – Other liabilities
In thousands of euro
Total
< 1 year
Between 1
and 5 years
> 5 years
Group advances and current accounts
110,063
110,063
–
–
TOTAL
110,063
110,063
–
–