Annual report 2001 - GL events

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Net sales
For shows, fairs, and events, income is recognized on
completion of the event, the date of the beginning of the
show. In specific case of major long-term events or events
for which deliveries are spread, revenues are recorded
according to the percentage of completion method of
accounting.
For the fittings and the museum fittings markets, the date
at which the revenues and profit are recognized generally
corresponds to the delivery date.
For rental contracts with no particular defined duration
and for long-term rental contracts, sales are recognized on
a monthly basis.
Concerning the sale of rental equipment, the
corresponding income is shown in net sales figure, and the
net book value is presented under the operating charge.
Exceptional profit and loss
Expenses and income are identified as exceptional in
accordance with generally accepted accounting principles.
One exception : the profits and charges linked to the sale
or disposal of rental equipment are reclassified under
operating profit/ (loss). (see above).
Earnings per share
Net earnings per share shown on the consolidated income
statements correspond to the net consolidated group
profit divided by the average number of shares for each of
the related period. The data for the last three years is as
follows :
• 1999 = 2 271 250, or 11 356 250 after division by 5 of
the nominal value
• 2000 = 2 300 997, or 11 504 985 after division by 5 of
the nominal value
• 2001 = 11 963 913
Potential earnings per share
The potential earnings per share are calculated based on
the average number of shares of the period plus the total
number of stock options (allocated or remaining to be
allocated).
For the last three years, this is how it can be presented :
• 1999 = 2 371 250, or 11 856 250 after division by 5 of
the nominal value
• 2000 = 2 400 997, or 12 004 985 after division by 5 of
the nominal value
• 2001 = 12 451 195
Post retirement benefits :
Expenses relative to post retirement benefits are
recognized in the consolidated financial statements as of
1 January 2000.
The provision for Post Retirement Benefit is calculated
according to the prospective method which retains acturial
hypotheses as follows :
• rates of discount
• ratio of upgrading of wages,
• rate of personnel turnover,
• rate of mortality.
The provision takes into account the insurance contracts
already subscribed by the companies SF Protection, SFI
Gauthrin, Décorama, ISF and Expolok covering the
agreement for a global amount of 330 K€.
Financial instruments :
The financial instruments used by the company (CAPS,
FLOORS,…) are exclusively hedging instruments. Gains and
losses on the hedging instruments are determined and
accounted for on a symmetrical basis with the losses and
gains on the hedged elements.