REGISTRATION DOCUMENT - Bourbon

5NotesCOMPANY FINANCIAL STATEMENTSto the annual financial statements12 BREAKDOWN OF NET REVENUES(in € thousands) 2011 2010By business segmentServices - 310TOTAL - 310By geographical segmentFrance -Other - 310TOTAL - 31013 EXECUTIVE COMPENSATIONThe members of the Board of Directors, including its Chairman and the members of the Nominating, Compensation and GovernanceCommittee and Audit Committee, together received €154,000 euros in Directors’ fees in 2011 for performing their duties.14 DETAILS OF NON-RECURRING INCOME AND EXPENSES(in € thousands) 2011Non-recurring expenses 2,650On management operations -On capital transactions 2,650Net book value of equity interests sold (1) 1,965Share buybacks 685Other -Non-recurring amortization, depreciation and provisions -Non-recurring income 1,238From management operations -From capital transactions 1,238Income from sale of equity investments (1) 920Share buybacks 299Other 19Reversals of provisions and expense transfers -(1) See note 3.15 RELATED PARTIES(in € thousands) 2011 2010Financial expenses (1) 7 113Financial income (2) 112,626 127,647(1) Financial expenses refer to the interest expense on the payment of two current account advances totaling €209,000 at 12.31.2011.(2) Financial income corresponds mainly to income from equity interests (dividends) in the amount of €105,610,000 and interest on current accounts in the amountof €7,016,000.134BOURBON - 2011 Registration Document