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2012 FINANCIAL STATEMENTS AND RELATED NOTES3.8. EquityThe movements in the year were as follows:Other movements31/12/2011 Dividends paidAdditionsReductions 31/12/2012Share capital 50.6 - - (0.2) 50.4Legal reserve 5.3 - - - 5.3Long-term capital gain - - - - -Other reserves - - - - -Retained earnings 346.7 - 45.6 (4.7) 387.7Profit for the year 171.9 (126.3) 116.3 (45.6) 116.3Equity excluding regulated provisions 574.5 (126.3) 161.9 (50.5) 559.7Regulated provisions 3.3 - 2.6 (1.0) 4.9Total equity 577.8 (126.3) 164.5 (51.5) 564.5During the 2012 financial year, 500,000 shares were cancelled under the share buyback programme.This resulted in a reduction of €0.2 million in share capital and €4.7 million in retained earnings.At 31 December 2012, the share capital comprised 125,883,964 ordinary shares of €0.40 each.Regulated provisions relate to accelerated amortisation of licences and acquisition costs of investments.3.9. Provisions for liabilities and chargesThe movements in provisions during 2012 were:1 Jan. 2012 IncreasesReversals(used)Reversals(unused) 31 Dec. 2012Provisions for litigation 4.6 2.6 (0.8) (1.8) 4.7Provisions for plans granting freeshares5.3 3.3 (3.9) 4.6Provisions for retirement benefits 3.5 0.5 4.0Other provisions for charges 47.9 18.4 (27.3) 39.0Total provisions for liabilitiesand charges61.3 24.7 (31.9) (1.8) 52.3Litigations included in the “provisions for litigation” caption relate to all legal proceedings instituted againstMétropole Télévision, for which it is probable that the outcome will be unfavourable for the Company. Inthe vast majority of cases, such litigations have gone beyond the pre-litigation stage and are currentlybeing considered or are undergoing judgement or appeal by competent courts (Commercial Court,Industrial Court, Court of First Instance, Criminal Court or Supreme Court of Appeal).Additional information in respect of litigations in progress has not been included individually as disclosureof such information could be prejudicial to the Group.224 - M6 GROUP - 2012 REGISTRATION DOCUMENT
2012 FINANCIAL STATEMENTS AND RELATED NOTESThe “provisions for plans granting free shares” are intended to cover the probable outflow of resourcescorresponding to the obligation to transfer shares to employees. In accordance with CNC opinionn°2008-17, they are spread over the vesting period of the entitlements and total €3.4 million for the plansmaturing in 2013 and €1.2 million for the plans maturing in 2014.“Other provisions for charges” primarily relate to the writedown of audiovisual rights that MétropoleTélévision is committed to buy but which have not yet been posted to inventories.The charge resulting from the likelihood that an unopened right (and as such classified in off-balancesheet commitments) will not be broadcast may not be accounted for by writing down a balance sheetasset, and is therefore recognised through a provision for liabilities and charges.The writedown of an unopened right is consistent with the operation of the audiovisual rights market,since TV channels have generally entered into sourcing agreements with producers in relation to futureproductions, without having the certainty that the quality of the latter will be consistent and may bebroadcast given their editorial policy and target audiences.Furthermore, the channels may be committed to broadcasting a flow programme or an event whoseaudience or image potential will not generate sufficient advertising revenue to offset the total cost of theprogramme.A writedown of the value of a right may reflect:- the case where a broadcast is unlikely: the programme will not be broadcast for lack of audiencepotential;- the case where net revenue generated during the window rights of the programme will be insufficient.In all cases, writedowns are assessed as part of an individual review of all portfolio items, in light of theratings and revenue targets of each programme, as defined by the management of programming of eachGroup channels.“Other provisions for charges” relate to costs Métropole Télévision would have to incur to implement acontract or settle its regulatory or tax obligations, without the amounts in question being due or havingbeen due, in particular within the framework of dispute settlement or legal proceedings.The amounts reported for all these types of provisions are the best possible estimate of the future outflowof Company resources, taking account of plaintiffs’ claims, judgments already passed, if applicable, orthe management’s appraisal of similar instances and/or calculations made by the finance department.3.10. LiabilitiesThe change in other liabilities reflects the day-to-day financing of the Group’s subsidiaries.Liabilities may be analysed as follows, by maturity date:M6 GROUP - 2012 REGISTRATION DOCUMENT - 225
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DisclaimerThis report is an English
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M6 GROUP PRESENTATION1. M6 Group pr
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M6 GROUP PRESENTATION1.4.2. 2012 fi
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M6 GROUP PRESENTATIONb) Provisions
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CORPORATE GOVERNANCECORPORATE GOVER
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CORPORATE GOVERNANCESHARE CAPITAL33
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SHARE CAPITALStock market performan
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SHARE CAPITAL3.4. Cash dividend pol
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SHARE CAPITAL- At least one third o
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SHARE CAPITALChange in the number o
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SHARE CAPITALTreasury shares alloca
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SHARE CAPITAL3.10.4.4. Identificati
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RISK FACTORS AND MANAGEMENTRISK FAC
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2012 FINANCIAL REPORT2012 FINANCIAL
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2012 FINANCIAL REPORT5.1.2.2. M6 TV
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2012 FINANCIAL REPORTAdvertising an
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2012 FINANCIAL REPORTthe reliabilit
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OTHER INFORMATION9.4. Person respon
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OTHER INFORMATION14. ADMINISTRATIVE
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OTHER INFORMATIONiv.Reports of the
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