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Rothschild & Co | Annual Report 2017
Note 3 – Portfolio holdings
This heading includes all non-current strategic portfolio investments that cannot be classified as “Investment in Group and other companies”. Movements
during the 2017 financial period can be summarised as follows:
In thousands of euro
01/04/2017 Acquisitions/
increases
(Disposals)/
(exits)
31/12/2017
Gross value
37,063
10,386
(10,204)
37,245
(Increases)
Decreases
Impairment
(7,313)
(672)
–
(7,984)
TOTAL
29,750
9,714
(10,204)
29,261
Acquisitions/increases as well as disposals/exits for the period mostly concerned R&Co treasury shares.
As at 31 December 2017, the estimated value of the portfolio of participating interests and investments amounted to €39,628 thousand, of which
€22,957 thousand were in treasury shares and €7,642 thousand were in investment certificates of R&Co.
Note 4 – Accounts receivable
In thousands of euro
Total
< 1 year
Between 1
and 5 years
> 5 years
Group and associated companies’ advances and current accounts (cash pooling)
46,212
46,212
–
–
Current accounts related to the tax consolidation group
36,282
36,282
–
–
Tax assets
(1)
6,226
6,226
–
–
Other accounts receivable
(2)
1,283
1,283
–
–
TOTAL
90,003
90,003
–
–
(1) Of which accrued income: €6,119 thousand.
(2) Of which accrued income: €520 thousand.
Note 5 – Marketable securities
Marketable securities consist of:
• 24,000 treasury shares held in accordance with a liquidity contract of €695 thousand. As at 31 December 2017, the estimated value of the marketable
securities was €763 thousand, with an unrealised gain of €68 thousand.
The other securities (€25 million) consist mainly of mutual funds and short-term liquid investments. As at 31 December 2017, the fair value of these
securities also amounted to €25 million.
Note 6 – Unrealised translation losses
Unrealised translation losses of €918 thousand corresponds to the value of losses at 31/12/2017 in euro on current account advances made in foreign
currencies to POHB (€3 million) and KDEV (€42 million).
Note 7 – Shareholders’ equity
In thousands of euro
Share
capital
Share
premium
Legal
reserves
Other
reserves
Retained
earnings
Regulated
provisions
Net income
for the
period
Total
shareholders’
equity
Shareholders’ equity as at 1 April 2017
154,580 1,109,268 14,227 153,044 103,241
303 60,713 1,595,376
Capital increase
235 1,821
–
–
–
–
–
2,056
Appropriation of net income for year ended,
31/03/2017
–
– 1,222
– 59,491
– (60,713)
–
Dividend payment
(1)
–
–
–
– (52,740)
–
–
(52,740)
Net income for period to 31/12/2017
–
–
–
–
–
– 121,764
121,764
SHAREHOLDERS’ EQUITY
AS AT 31 DECEMBER 2017
154,815 1,111,089 15,449 153,044 109,992
303 121,764 1,666,456
(1) The total dividend paid out during the 2017 financial period in respect of the previous year came to €632 thousand less than the amount approved in the second resolution proposed at the
Combined General Meeting of 28 September 2017, since no dividends were paid on treasury shares or investment certificates.
Notes to the Company financial statements