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2012 FINANCIAL STATEMENTS AND RELATED NOTES(1)In 2010, the Group decided to reclassify CVAE (value added business tax) as income tax. Thisamounted to €10 million (€6.4 million net of income tax) at 31 December 2012, the same as at 31December 2011.(2)The €5.3 million figure corresponds to the difference in the rate applicable to the capital gain on thedisposal of the Group’s equity investment in Summit Entertainment.(3) Other differences primarily relate to pre-2012 tax credits and tax settlements (for €0.4 million).The sources of deferred tax at 31 December were as follows:Deferred tax assets2012 2011Intangible assets 0.6 0.5Assets held for sale 1.5Other assets 9.0 11.1Retirement provisions (non-deductible) 2.2 2.6Non-deductible provisions 18.4 24.5Expenses payable non-deductible 5.0 5.7Financial instruments 1.2 3.1Losses brought forward 2.4 2.0Other 0.4 0.4Impact of offset of deferred tax assets and liabilities on the balance sheet (20.3) (20.4)Total 20.5 29.5Deferred tax liabilitiesCatalogues (5.8) (8.1)Brands (1.2) (1.5)Accelerated depreciation and amortisation (4.4) (3.4)Revaluation of assets held for sale (1.1) (4.0)Writedown of treasury shares (2.7) (2.7)Other (5.0) (4.6)Impact of offset of deferred tax assets and liabilities on the balance sheet 20.3 20.4Total - (4.0)The deferred tax assets and liabilities of companies included in the tax consolidation were offset.The cumulative losses brought forward of group companies were €22.8 million at 31 December 2012.The losses that were capitalised as deferred tax assets amounted to €6.9 million at 31 December 2012.At 31 December 2012, no deferred tax liability was recognised for taxes which may be due onundistributed profits of certain Group subsidiaries, associated companies or joint ventures.The payment of dividends by the Group to its shareholders had no fiscal effects.12. Earnings per share2012 2011Net profit attributable to shareholders 140.2 149.6Average weighted number of shares (excluding treasury shares) for basic earningsper share 125,655,902 127,890,194Potential dilutive effect of share-based payments 481,189 395,946Average weighted number of shares (excluding treasury shares) adjusted for dilutiveeffect* 126,137,091 128,286,140Net earnings per share (€) 1.115 1.170Diluted earnings per share (€) 1.111 1.167* Only includes dilutive shares (with regard to preavailing market conditions at closing)Net profit from discontinued operations for the periods presented was nil.184 - M6 GROUP - 2012 REGISTRATION DOCUMENT
2012 FINANCIAL STATEMENTS AND RELATED NOTESThe calculation of diluted earnings per ordinary share takes into account the free shares granted by theplans of 26 July 2011, 22 December 2011 and 27 July 2012.Shares with a dilutive impact totalled 481,189, with a dilutive effect on EPS of €0.42 cents per share.13. Dividends paid and proposed2012 2011Declared and paid during the year 126.3 128.6Dividend paid per ordinary share (€) 1.00 1.00Proposed for approval of AGM 231.9 126.2Dividend paid per ordinary share (€) 0.85 1.00Exceptional dividend paid per ordinary share (€) 1.00 -14. Intangible assetsAudiovisual rightsOther intangibleassetsAdvances andprepaymentsGoodwillTotal2011At 1 January 2011, net of amortisation and writedowns 58.1 36.4 23.4 76.2 194.1Acquisitions 28.8 7.1 42.6 - 78.6Change in Group structure (gross amounts) 24.0 28.4 0.1 2.5 55.0Disposals (6.7) (27.1) - - (33.8)Other movements 0.0 (0.0) - (1.4) (1.4)Reclassifications 29.7 10.8 (40.5) - 0.0Writedowns (3.3) (5.5) (0.0) (2.5) (11.2)2011 amortisation charge (48.5) (17.3) - - (65.8)Change in Group structure - accumulated amortisation charge (23.2) (27.2) (0.1) - (50.6)Reversal of amortisation on disposals 6.7 23.8 - - 30.5At 31 December 2011, net of depreciation and writedowns 65.7 29.5 25.5 74.8 195.5At 1 January 2011Gross value 573.8 485.3 24.0 107.6 1,190.8Accumulated amortisation and writedowns (515.7) (448.9) (0.6) (31.5) (996.7)Net total 58.1 36.4 23.4 76.2 194.1At 31 December 2011Gross value 649.6 544.6 26.2 108.7 1,329.2Accumulated amortisation and writedowns (583.9) (515.2) (0.7) (33.9) (1,133.6)Net total 65.7 29.5 25.5 74.8 195.5Audiovisual rightsOther intangibleassetsAdvances andprepaymentsGoodwillTotal2012At 1 January 2012, net of amortisation and writedowns 65.7 29.5 25.5 74.8 195.5Acquisitions 20.7 11.9 56.4 3.1 92.0Change in Group structure (gross amounts) - - - - -Disposals (55.7) (5.4) (0.0) - (61.0)Other movements - - - - -Reclassifications 34.2 15.7 (50.0) - 0.0Writedowns (7.5) 0.1 (0.4) (11.2) (18.9)2012 amortisation charge (65.2) (20.7) - - (85.8)Change in Group structure - accumulated amortisation charge - - - - -Reversal of amortisation on disposals 55.7 4.9 - - 60.6At 31 December 2012, net of depreciation and writedown 47.9 36.1 31.6 66.8 182.3At 1 January 2012Gross value 649.6 544.6 26.2 108.7 1,329.2Accumulated amortisation and writedowns (583.9) (515.2) (0.7) (33.9) (1,133.6)Net total 65.7 29.5 25.5 74.8 195.5At 31 December 2012Gross value 659.6 606.8 32.7 111.9 1,400.1Accumulated amortisation and writedowns (611.7) (570.8) (1.1) (45.1) (1,217.9)Net total 47.9 36.0 31.6 66.8 182.3Audiovisual rights include cinematographic and television rights acquired within the framework ofproductions or co-productions, as well as in application of distribution agreements for which a fixedamount (guaranteed minimum) was paid to the producer.Other intangible assets consist of computer software, co-productions and assets related to the transferfees of football players.M6 GROUP - 2012 REGISTRATION DOCUMENT - 185
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DisclaimerThis report is an English
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M6 GROUP PRESENTATION1. M6 Group pr
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