Recordati Industria Chimica e Farmaceutica

Annual / Quarterly Financial Statement • Mar 3, 2017

Registre de Commerce et des Sociétés

Numéro RCS : B59154 Référence de dépôt : L170032637 Déposé et enregistré le 28/02/2017

Document émis électronique UNFO DIGITAL

SIGN

KFPGYBX20170228T10525101_001 RCSL Nr. : B59154 Matricule : 1997 2207 635

eCDF entry date : 28/02/2017

BALANCE SHEET

Financial year from

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY

6, rue Eugène Ruppert L-2453 Luxembourg

ASSETS

			Reference(s)		Current year		Previous year
	A. Subscribed capital unpaid	1101		101	0,00	102	0,00
l.	Subscribed capital not called	1103		103	0,00	104	0,00
II.	Subscribed capital called but unpaid	1105		105	0,00	106	0,00
	B. Formation expenses	1107		107	0,00	108	0,00
	C. Fixed assets	1109	(2.2.3)(3)	109	355.031.275,52	110	353.510.977,61
	Intangible assets	1111		111	0,00	112	0,00
	1. Costs of development	1113		113	0,00	114	0,00
	2. Concessions, patents, licences, trade marks and similar rights and assets, if they were	1115		115	0,00	116	0,00
	a) acquired for valuable consideration and need not be shown under C.I.3	1117		117	0,00	118	0,00
	b) created by the undertaking itself	1119		119	0,00	120	0,00
	3. Goodwill, to the extent that it was acquired for valuable consideration	1121		121	0,00	122	0,00
	4. Payments on account and intangible assets under development	1123		123	0,00	124	0,00
II.	Tangible assets	1125		125	0,00	126	0,00
	1. Land and buildings	1127		127	0,00	128	0,00
	2. Plant and machinery	1129		129	0,00	130	0,00

				KFPGYBX20170228T10525101 001
					RCSL Nr.: B59154		Matricule : 1997 2207 635
					Reference(s)		Current year		Previous year
			3. Other fixtures and fittings, tools and equipment	1131		131	0,00	132	0,00
			4. Payments on account and tangible assets in the course
			of construction	1133		133	0,00	134	0,00
			Financial assets	1135		135	355.031.275,52	136	353.510.977,61
			1. Shares in affiliated undertakings	1137		137	272.866.973,56	138	272.866.973,56
			2. Loans to affiliated undertakings	1139		139	0,00	140	0,00
			3. Participating interests	1141		141	76.894.230,74	142	75.388.029,96
			4. Loans to undertakings with which the undertaking is linked by virtue of participating interests	1143		143	0,00	144	0,00
			5. Investments held as fixed
		assets		1145		145	5.270.071,22	146	5.255.974,09
			6. Other loans	1147		147	0,00	148	0,00
		D. Current assets		1151		151	13.345.440,44	152	16.479.959,08
l.		Stocks		1153		153	0,00	154	0,00
			1. Raw materials and consumables	1155		155	0,00	156	0,00
			2. Work in progress	1157		157	0,00	158	0,00
			3. Finished goods and goods
			for resale	1159		159	0,00	160	0,00
			4. Payments on account	1161		161	0,00	162	0,00
ll.		Debtors		1163	(2.2.4)(4)	163	13.254.995,38	164	15.804.489,62
			1. Trade debtors	1165		165	0,00	166	0,00
			a) becoming due and payable within one year	1167		167	0,00	168	0,00
			b) becoming due and payable after more than one year	1169		169	0,00	170	0,00
			2. Amounts owed by affiliated undertakings	1171		171	2.699.323,25	172	5.231.868,72
			a) becoming due and payable within one year	1173		173	2.699.323,25	174	5.231.868,72
			b) becoming due and payable after more than one year	1175		175	0,00	176	0,00
			3. Amounts owed by undertakings with which the undertaking is linked by virtue of participating
			interests	1177		177	0,00	178	0,00
			a) becoming due and payable within one year	1179		179	0,00	180	0,00
			b) becoming due and payable after more than one year	1181		181	0,00	182	0,00
	4.		Other debtors	1183		183	10.555.672,13	184	10.572.620,90
			a) becoming due and payable within one year	1185		185	10.555.672,13	186	10.572.620,90
			b) becoming due and payable
			after more than one year	1187		187	0,00	188	0,00

The notes in the annex form an integral part of the annual accounts

		KFPGYBX20170228T10525101 001
		RCSL Nr.: B59154		Matricule : 1997 2207 635
		Reference(s)		Current year		Previous year
Investments	1189		189	0,00	190	0,00
1. Shares in affiliated undertakings	1191		191	0,00	192	0,00
2. Own shares	1209		209	0,00	210	0,00
Other investments 3.	1195		195	0,00	196	0,00
Cash at bank and in hand IV.	1197		197	90.445,06	198	675.469,46
E. Prepayments	1199		199	0,00	200	0,00
TOTAL (ASSETS)			201	368.376.715,96	202	369.990.936,69

KFPGYBX20170228T10525101_001

RCSL Nr.: B59154

Matricule : 1997 2207 635

CAPITAL, RESERVES AND LIABILITIES

					Reference(s)		Current year		Previous year
		A. Capital and reserves		1301	(2)	301	247.398.701,90	302	288.812.167,84
		Subscribed capital		1303	(5.2)	303	82.500.000,00	304	82.500.000,00
	11.		Share premium account	1305	(2)	305	144.965.479,84	306	144.965.479,84
			Revaluation reserve	1307		307	0,00	308	0,00
	IV.	Reserves		1309	(5)	309	8.287.500,00	310	8.287.500,00
		1. Legal reserve		1311	(5.3)	311	8.250.000,00	312	8.250.000,00
		2.	Reserve for own shares	1313		313	0,00	314	0,00
			3. Reserves provided for by the articles of association	1315		315	0,00	316	0,00
			4. Other reserves, including the fair value reserve	1429		429	37.500,00	430	37.500,00
			a) other available reserves	1431		431	37.500,00	432	37.500,00
			b) other non available reserves	1433		433	0,00	434	0,00
	V.		Profit or loss brought forward	1319	(5.4)	319	59.188,00	320	4.213.473,97
	VI.		Profit or loss for the financial year	1321	(5.4)	321	11.586.534,06	322	48.845.714,03
	VII.	Interim dividends		1323		323	0,00	324	0,00
			VIII. Capital investment subsidies	1325		325	0,00	326	0,00
		B. Provisions				331	80.135,23	332	91.063,20
			1. Provisions for pensions and
			similar obligations	1333		333	0,00	334	0,00
			2. Provisions for taxation	1335	(6)	335	43.145,00	336	72.275,00
			3. Other provisions	1337	(7)	337	36.990,23	338	18.788,20
		C. Creditors			(2.2.6)(8)	435	120.897.878,83	436	81.087.705,65
			1. Debenture loans	1437		437	0,00	438	0,00
			a) Convertible loans	1439		439	0,00	440	0,00
		i)	becoming due and payable within one year	1441		441	0,00	442	0,00
			ii) becoming due and payable after more than one year	1443		443	0,00	444	0,00
			b) Non convertible loans	1445		445	0,00	446	0,00
		i)	becoming due and payable within one year	1447		447	0,00	448	0,00
		ii)	becoming due and payable after more than one year	1449		449	0,00	450	0,00
		institutions	2. Amounts owed to credit	1355		રૂટર	117,42	356	0,00
		a)	becoming due and payable within one year	1357		357	117,42	358	0,00
			b) becoming due and payable after more than one year	1359		359	0,00	360	0,00

The notes in the annex form an integral part of the annual accounts

		KFPGYBX20170228T10525101 001
		RCSL Nr.: B59154		Matricule : 1997 2207 635
		Reference(s)		Current year		Previous year
3. Payments received on account of orders in so far as they are shown separately as deductions from stocks	1361		361	0,00	362	0,00
a) becoming due and payable within one year	1363		363	0,00	364	0,00
b) becoming due and payable after more than one year	1365		365	0,00	366	0,00
4. Trade creditors	1367		367	9.973,12	368	65.208,56
a) becoming due and payable within one year	1369		369	9.973,12	370	65.208,56
b) becoming due and payable after more than one year	1371		371	0,00	372	0,00
5. Bills of exchange payable	1373		373	0,00	374	0,00
a) becoming due and payable within one year	1375		375	0,00	376	0,00
b) becoming due and payable after more than one year	1377		377	0,00	378	0,00
6. Amounts owed to affiliated undertakings	1379		379	0,00	380	0,00
a) becoming due and payable within one year	1381		381	0,00	382	0,00
b) becoming due and payable after more than one year	1383		383	0,00	384	0,00
7. Amounts owed to undertakings with which the undertaking is linked by virtue of participating interests	1385		385	0,00	386	0,00
a) becoming due and payable within one year	1387		387	0,00	388	0,00
b) becoming due and payable after more than one year				0,00		0,00
Other creditors 8.	1389 1451		389 451	120.887.788,29	390 452	81.022.497,09
Tax authorities a)	1393		393	0,00	394	0,00
Social security authorities b)	1395		395	0,00	396	0,00
Other creditors C)	1397		397	120.887.788,29	398	81.022.497,09
becoming due and i) payable within one year	1399		399	120.887.788,29	400	81.022.497,09
ii) payable after more than one year	1401		401	0,00	402	0,00
D. Deferred income	1403		403	0,00	404	0,00
TOTAL (CAPITAL, RESERVES AND LIABILITIES)			405	368.376.715,96	406	369.990.936,69

Registre de Commerce et des Sociétés

Numéro RCS : B59154 Référence de dépôt : L170032637 Déposé le 28/02/2017

Document émis électroniquement

	KFPGYBX20170228T10525101 002
IRCSL Nr. : B59154	' Matricule : 1997 2207 635
	eCDF entry date :	28/02/2017

PROFIT AND LOSS ACCOUNT

Financial year from

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY

6, rue Eugène Ruppert L-2453 Luxembourg

PROFIT AND LOSS ACCOUNT

		Reference(s)		Current year		Previous year
	1. Net turnover	1701	701	0,00	702	0,00
	2. Variation in stocks of finished goods and in work in progress	1703	703	0,00	704	0,00
	3. Work performed by the undertaking for its own purposes and capitalised	1705	705	0,00	706	0,00
	4. Other operating income	1713	713	0,00	714	1.042,16
	5. Raw materials and consumables and other external expenses	1671	(12) 671	-103.723,41	672	-214.361,64
	Raw materials and consumables a)	1601	601	0,00	602	0,00
	b) Other external expenses	1603	603	-103.723,41	604	-214.361,64
6.	Staff costs	1605	605	0,00	606	0,00
	a) Wages and salaries	1607	607	0,00	608	0,00
	b) Social security costs	1609	609	0,00	610	0,00
	relating to pensions i)	1653	653	0,00	654	0,00
	other social security costs ii)	1655	655	0,00	୧୮୧	0,00
	Other staff costs C)	1613	613	0,00	614	0,00
7.	Value adjustments	1657	657	0,00	୧୧୫	0,00
	a) in respect of formation expenses and of tangible and intangible
	fixed assets	1659	659	0,00	660	0,00
	b) in respect of current assets	1661	661	0,00	662	0,00
	8. Other operating expenses	1621	(14) 621	-2.995,39	622	-9.505.398,54

			KFPGYBX20170228T10525101 002
			RCSL Nr.: B59154			Matricule : 1997 2207 635
			Reference(s)		Current year		Previous year
	9. Income from participating interests	1715		715	10.454.950,19	716	59.266.538,91
	a)	1717	(15)	717	10.454.950,19	718	59.266.538,91
b)	other income from participating interests	1719		719	0,00	720	0,00
	10. Income from other investments and loans forming part of the fixed assets	1721	(16)	721	1.660.118,90	722	236.880,02
a)	derived from affiliated undertakings	1723		723	136.494,53	724	236.880,02
b)	other income not included under a)	1725		725	1.523.624,37	726	0,00
	11. Other interest receivable and similar income	1727	(17)	727	8.337,84	728	98.162,17
	a) derived from affiliated undertakings	1729		729	0,00	730	0,00
b)	other interest and similar income	1731		731	8.337,84	732	98.162,17
	12. Share of profit or loss of undertakings accounted for under the equity method	1663		663	0,00	664	0,00
	13. Value adjustments in respect of financial assets and of investments held as current assets	1665		୧୧୮	-3.326,46	666	0,00
	14. Interest payable and similar expenses	1627	(18)	627	-419.165,36	628	-1.010.316,25
a)	concerning affiliated undertakings	1629		629	0,00	630	0,00
	b) other interest and similar expenses	1631		631	-419.165,36	632	-1.010.316,25
	15. Tax on profit or loss	1635	(13)	635	-3.210,00	636	14.980,00
	16. Profit or loss after taxation	1667		667	11.590.986,31	668	48.887.526,83
	17. Other taxes not shown under items 1 to 16	1637	(13)	637	-4.452,25	638	-41.812,80
	18. Profit or loss for the financial year	1669		୧୧୨	11.586.534,06	670	48.845.714,03

Registre de Commerce et des Sociétés

Numéro RCS : B59154 Référence de dépôt : L170032637 Déposé le 28/02/2017

Document émis électroniquement

	KFPGYBX20170228T10525101 003
RCSL Nr.: B59154	I Matricule : 1997 2207 635
	eCDF entry date :	28/02/2017

STANDARD CHART OF ACCOUNTS

Financial year from

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY

6, rue Eugène Ruppert L-2453 Luxembourg

Class 1. EQUITY, PROVISIONS AND FINANCIAL LIABILITIES ACCOUNTS

	NCL uchil Valdire	NEL CICUIL VAIGHLE
10 Capital or branches' assigned capital and owner's accounts	0101	82.500.000,00 0102
101 Subscribed capital (Capital enterprises - Total amount)	0103	82.500.000,00 0104
102 Subscribed capital not called (Capital enterprises)	0105	0106
103 Subscribed capital called but unpaid (Capital enterprises)	0107	0108
104 Capital of companies represented by individual business persons and of corporate partnerships	0109	0110
1041 Individual business persons	0111	0112
1042 Partnerships	0113	0114
105 Endowment of branches	0115	0116
106 Accounts of the owner or the co-owners (individual business persons)	0117	0118
11 Share premium and similar premiums	0119	144.965.479,84 0120
111 Share premium	0121	144.965.479,84 0122
112 Merger premium	0123	0124
113 Contribution in kind premium	0125	0126
114 Premiums on conversion of bonds into shares	0127	0128
115 Capital contribution without issue of shares	0129	0130
12 Revaluation reserves	0131	0132
121 Revaluation reserves in application of fair value	0133	0134
122 Reserves in application of the equity method (shareholdings valued in accordance with art. 58)	0135	0136
123 Temporarily not taxable currency translation adjustments	0137	0138
128 Other revaluation reserves	0139	0140
13 Reserves	0141	8.287.500,00 0142
131 Legal reserve	0143	8.250.000,00 0144
132 Reserves for own shares or own corporate units	0145	0146
133 Reserves provided for by the articles of association	0147	0148
138 Other reserves	0149	37.500,00 0150
1381 Reserve for wealth tax	0151	0152
1382 Other reserves not available for distribution	0153	37.500,00 0154
1383 Other reserves available for distribution	0155	0156

		KFPGYBX20170228T10525101 003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
		Net debit balance	Net credit balance
	14 Results	0157	11.645.722,06 0158
	141 Results brought forward	0159	59.188,00 0160
	142 Result for the financial year	0161	11.586.534,06 0162
	15 Interim dividends	0163	0164
	16 Capital investment subsidies	0165	0166
	161 Land and buildings	0167	0168
	162 Plant and machinery	0169	0170
	163 Other fixtures, fittings, tools, equipment and vehicle fleet	0171	0172
	168 Other investment grants in capital	0173	0174
	17 Temporarily not taxable capital gains	0175	0176
	171 Temporarily not taxable capital gains to reinvest	0177	0178
	172 Temporarily not taxable capital gains reinvested	0179	0180
	18 Provisions	0181	80.135,23 0182
	181 Provisions for pensions and similar obligations	0183	0184
	182 Provisions for taxation	0185	43.145,00 0186
	1821 Provisions for corporate income tax	0187	6.420,00 0188
	1822 Provisions for municipal business tax	0189	0190
	1823 Provisions for net wealth tax		36.725,00 0192
	1828 Other tax provisions	0191 0193	0194
	183 Deferred tax provisions	0195	0196
	188 Other provisions		36.990,23
	1881 Operating provisions	0197	0198 36.990,23
	1882 Financial provisions	0199	0200
	1883 Extraordinary provisions	0201 0203	0202 0204
	19 Financial debt and similar liabilities
	191 Subordinated debts	0205	0206
		0207	0208
	1911 due and payable within one year	0209	0210
	19111 Principal amount	0211	0212
	19112 Accrued interests	0213	0214
	1912 due and payable after more than one year	0215	0216
	19121 Principal amount	0217	0218
	19122 Accrued interests	0219	0220
	192 Convertible debenture loans	0221	0222
	1921 due and payable within one year	0223	0224
	19211 Principal amount	0225	0226
	19212 Accrued interests	0227	0228
	1922 due and payable after more than one year	0229	0230
	19221 Principal amount	0231	0232
	19222 Accrued interests	0233	0234
	193 Non convertible debenture loans	0235	0236

			NFPGYDAZUT7UZZ811U5Z51U1_005
		RCSL Nr.: B59154	Matricule : 1997 2207 635
			Net debit balance	Net credit balance
1931 due and payable within one year			0237	0238
19311 Principal amount			0239	0240
19312 Accrued interests			0241	0242
	1932 due and payable after more than one year		0243	0244
19321 Principal amount			0245	0246
19322 Accrued interests			0247	0248
194 Amounts owed to credit institutions			0249	0250
1941 due and payable within one year			0251	0252
19411 Principal amount			0253	0254
19412 Accrued interests			0255	0256
	1942 due and payable after more than one year		0257	0258
19421 Principal amount			0259	0260
19422 Accrued interests			0261	0262
195 Financial lease payables			0263	0264
1951 due and payable within one year			0265	0266
	1952 due and payable after more than one year		0267	0268
198 Other loans and similar debts			0269	0270
1981 due and payable within one year			0271	0272
19811 Other loans			0273	0274
	19812 Capitalised life annuities		0275	0276
19813 Other similar debts			0277	0278
	19814 Accrued interests on other loans and similar debts		0279	0280
	1982 due and payable after more than one year		0281	0282
19821 Other loans			0283	0284
	19822 Capitalised life annuities		0285	0286
19823 Other similar debts			0287	0288
	19824 Accrued interests on other loans and similar debts		0289	0290

Class 2. FORMATION EXPENSES AND FIXED ASSETS ACCOUNTS

20 Formation expenses and similar expenses	0291	0292
201 Set-up costs	0293	0294
202 Start-up costs	0295	0296
2021 Business expenses	0297	0298
2022 Advertising expenses	0299	0300
203 Expenses for increases in capital and for various operations (merger, demergers, change of legal form)	0301	0302
204 Loan issuances expenses	0303	0304
208 Other similar expenses	0305	0306
21 Intangible fixed assets	030	0308
211 Research and development costs	0309	0310
212 Concession contracts, patents, licences, trademarks and similar rights and values	031	0312

Net debit balance

Net credit balance

		KFPGYBX20170228T10525101_003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
		Net debit balance	Net credit balance
2121 Acquired against payment (Not produced intangible
assets)	0313		0314
21211 Concession contracts	0315		0316
21212 Patents	0317		0318
21213 Software and software packages licences	0319		0320
21214 Trademarks and franchises	0321		0322
21215 Similar rights and values	0323		0324
212151 Copyrights and reproduction rights	0325		0326
212152 Emission rights	0327		0328
212158 Other similar rights and values	0329		0330
2122 created by the undertaking itself (Produced intangible assets)	0331		0332
21221 Concession contracts	0333		0334
21222 Patents	0335		0336
21223 Software and software package licences	0337		0338
21224 Trademarks and franchises	0339		0340
21225 Similar rights and values	0341		0342
212251 Copyrights and reproduction rights	0343		0344
212252 Emission rights	0345		0346
212258 Other similar rights and values created by
the undertaking itself	0347		0348
213 Goodwill acquired for consideration	0349		0350
214 Payments on account and intangible fixed assets under
development	0351		0352
2141 Research and development costs	0353		0354
2142 Concession contracts, patents, licences, trademarks and similar rights and values	0355		0356
2143 Goodwill	0357		0358
Tangible fixed assets			0360
221 Land and buildings	0359
2211 Land	0361 0363		0362 0364
22111 Undeveloped land	0365		0366
22112 Land with fitting-outs	0367		0368
22113 Underground and above ground level land	0369		0370
22114 Natural resource deposits	0371		0372
22115 Developed land	0373		0374
22118 Other land	0375		0376
2212 Fitting-outs of land	0377		0378
22121 Fitting-outs of undeveloped land	0379		0380
22122 Fitting-outs of land with fitting-outs	0381		0382
22123 Fitting-outs of underground and above ground level land	0383		0384
22124 Fitting-outs of natural resource deposits	0385		0386
22125 Fitting-outs of developed land	0387		0388
22128 Fitting-outs of other land	0389		0390
2213 Buildings	0391		0392
22131 Constructions on own land	0393		0394
22132 Constructions on third party's land	0395		0396

22

		KFPGYBX20170228T10525101 003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
222 Plant and machinery	0397	0398
2221 Plant	0399	0400
2222 Machinery	0401	0402
223 Other fixtures and fittings, tools, equipment and motor
vehicles	0403	0404
2231 Handling and transportation equipment	0405	0406
2232 Motor vehicles	0407	0408
2233 Tools	0409	0410
2234 Furniture	0411	0412
2235 Computer equipment (hardware)	0413	0414
2236 Livestock	0415	0416
2237 Returnable packaging	0417	0418
2238 Other fixtures	0419	0420
224 Payments on account and tangible fixed assets under development	0421	0422
2241 Land and buildings	0423	0424
22411 Land	0425	0426
22412 Fitting-outs of land	0427	0428
22413 Buildings	0429	0430
2242 Plant and machinery	0431	0432
2243 Other fixtures and fittings, tools, equipment and motor
vehicles	0433	0434
23 Financial fixed assets
231 Shares in affiliated undertakings	355.031.275,52 0435 272.866.973,56	0436
232 Amounts owed by affiliated undertakings	0437	0438
233 Shares in undertakings with which the company is linked	0439	0440
by virtue of participating interests	76.894.230,74 0441	0442
234 Amounts owed by undertakings with which the company is
linked by virtue of participating interests	0443	0444
235 Securities held as fixed assets	5.270.071,22 0445	0446
2351 Securities held as fixed assets (equity right)	0447	0448
23511 Shares	0449	0450
23518 Other securities held as fixed assets (equity right)	0451	0452
2352 Securities held as fixed assets (creditor's right)	0453	0454
23521 Debentures	0455	0456
23528 Other securities held as fixed assets (creditor's right)	0457	0458
2358 Other securities held as fixed assets	5.270.071,22 0459	0460
236 Loans and claims held as fixed assets	0461	0462
2361 Loans	0463	0464
23611 Participating loans	0465	0466
23612 Shareholders loans	0467	0468
23613 Staff loans	0469	0470
23618 Other loans	0471	0472
2362 Deposits and guarantees	0473	0474
23621 Deposits 23622 Guarantees	0475	0476
2363 Claims	0477	0478
237 Own shares or own corporate units	0479	0480
	0481	0482

RCSL Nr.: B59154

KFPGYBX20170228T10525101_003

Matricule : 1997 2207 635

Class 3. INVENTORIES ACCOUNTS

	Net debit Dalance	Net creat Dalance
30 Raw materials and consumables	0483	0484
301 Raw materials	0485	0486
302 Consumable materials	0487	0488
303 Consumable supplies	0489	0490
3031 Fuels	0491	0492
3032 Maintenance supplies	0493	0494
3033 Workshop and factory supplies	0495	0496
3034 Store supplies	0497	0498
3035 Office supplies	0499	0500
3036 Motor fuels	0501	0502
3037 Lubricants	0503	0504
3038 Other consumable supplies	0505	0506
304 Packaging	0507	0508
3041 Non returnable packaging	0509	0510
3042 Returnable packaging	0511	0512
3043 Mixed usage packaging	0513	0514
305 Supplies	0515	0516
31 Work and contracts in progress	0517	0518
311 Work in progress	0519	0520
312 Contracts in progress - goods	0521	0522
313 Contracts in progress	0523	0524
314 Buildings under construction	0525	0526
32 Finished goods and merchandise	0527	0528
321 Finished goods	0529	0530
322 Semi-finished goods	0531	0532
323 Residual goods	0533	0534
3231 Waste	0535	0536
3232 Scrap	0537	0538
3233 Recovered materials	0539	0540
326 Merchandise	0541	0542
327 Merchandise in transit, held for safekeeping or
consignment	0543	0544
33 Land and buildings held for resale	0545	0546
331 Land	0547	0548
332 Buildings	0549	0550
3321 Buildings purchased	0551	0552
3322 Buildings constructed	0553	0554
34 Payments on account	0555	0556
341 Payments on account on raw materials and consumables	0557	0558
342 Payments on account on work and contracts in progress	0559	0560
343 Payments on account on finished goods and merchandise	0561	0562

			KFPGYBX20170228T10525101_003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
344 Payments on account on land and buildings held for resale		0563	Net debit balance	Net credit balance 0564
Class 4. DEBTORS AND CREDITORS
			Net debit balance	Net credit balance
40 Trade receivables (Receivables from sales and rendering of services)		0565		0566
401 Trade receivables due and payable within one year		0567		0568
4011 Customers		0569		0570
4012 Customers - Receivable bills of exchange		0571		0572
4013 Doubtful or disputed customers		0573		0574
4014 Customers - Unbilled sales		0575		0576
4015 Customers with creditor balance		0577		0578
4019 Value adjustments		0579		0580
402 Trade receivables due and payable after more than one year		0581		0582
4021 Customers		0583		0584
4022 Customers - Receivable bills of exchange		0585		0586
4023 Doubtful or disputed customers		0587		0588
4024 Customers - Unbilled sales		0589		0590
4025 Customers with creditor balance		0591		0592
4029 Value adjustments		0593		0594
41 Amounts owed by affiliated undertakings and by undertakings with which the company is linked by virtue of participating interests		0595	2.699.323,25	0596
411 Amounts owed by affiliated undertakings		0597	2.699.323,25	0598
4111 Amounts receivable within one year		0599	2.699.323,25	0600
41111 Sales of trade goods and rendering of services		0601		0602
41112 Loans and cash advances		0603	2.513.977,75	0604
41113 Accrued interests		0605	185.345,50	0606
41114 Dividends receivable		0607		0608
41118 Other receivables		0609		0610
41119 Value adjustments		0611		0612
4112 Amounts receivable after more than one year		0613		0614
41121 Trade receivables		0615		0616
41122 Loans and cash advances		0617		0618
41123 Accrued interests		0619		0620
41124 Dividends receivable		0621		0622
41128 Other receivables		0623		0624
41129 Value adjustments		0625		0626
412 Amounts owed by undertakings with which the company is linked by virtue of participating interests		0627		0628

		KFPGYBX20170228110525101 003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
	4121 Amounts receivable within one year	Net debit balance	Net credit balance
	41211 Trade receivables	0629	0630
	41212 Loans and cash advances	0631	0632
	41213 Accrued interests	0633	0634
	41214 Dividends receivable	0635	0636
	41218 Other receivables	0637	0638
	41219 Value adjustments	0639	0640
	4122 Amounts receivable after more than one year	0641	0642
	41221 Trade receivables	0643 0645	0644 0646
	41222 Loans and cash advances	0647	0648
	41223 Accrued interests	0649	0650
	41224 Dividends receivable	0651	0652
	41228 Other receivables	0653	0654
	41229 Value adjustments	0655	0656
42 Other receivables		10.555.672,13 0657	0658
	421 Other receivables within one year	10.555.672,13 0659	0660
	4211 Staff - Cash advances and payments on account	0661	0662
	42111 Cash advances and payments on account	0663	0664
	42119 Value adjustments	0665	୦୧୧୧
	4212 Amounts owed by partners and shareholders	10.321.606,58 0667	0668
	42121 Principal amount	0669	0670
	42122 Accrued interests	10.321.606,58 0671	0672
	42129 Value adjustments	0673	0674
	4213 State - Subsidies to be received	0675	0676
	42131 Investment subsidies	0677	0678
	42132 Operating subsidies	0679	0680
	42138 Other subsidies	0681	0682
	4214 Direct tax authorities (ACD)	231.081,75 0683	0684
	4215 Custom and excise duties authorities (ADA)	0685	0686
	4216 Indirect tax authorities (AED)	0687	0688
	42161 Value-added tax - VAT	0689	0690
	421611 VAT paid and recoverable	0691	0692
	421612 VAT receivable	0693	0694
	421613 Advanced payments for VAT	0695	0696
	421618 VAT - Other receivables 42162 Indirect taxes	0697	0698
	421621 Registration duties	0699	0700
	421622 Subscription tax	0701	0702
	421623 Mortgage duties	0703	0704 0706
	421624 Stamp duties	0705 0707	0708
	421628 Other indirect taxes	0709	0710
	42168 Other receivables	0711	0712
	4217 Amounts owed by the Social Security and other social
	bodies	0713	0714
	42171 Social Security office (CCSS)	0715	0716
	42172 Employers mutual insurance fund	0717	0718
	42178 Other social bodies	0719	0720

	KFPGYBX20170228T10525101_003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
4218 Miscellaneous receivables	2.983,80 0721	0722
42181 Foreign taxes	0723	0724
421811 Foreign VAT	0725	0726
421818 Other foreign taxes	0727	0728
42188 Other miscellaneous receivables	2.983,80 0729	0730
42189 Value adjustments	0731	0732
422 Other receivables after one year	0733	0734
4221 Staff - Cash advances and payments on account	0735	0736
42211 Cash advances and payments on account	0737	0738
42219 Value adjustments	0739	0740
4222 Partners or shareholders	0741	0742
42221 Principal amount	0743	0744
4222 Accrued interests	0745	0746
42229 Value adjustments	0747	0748
4223 Subsidies to be received	0749	0750
42231 Investment subsidies	0751	0752
42232 Operating subsidies	0753	0754
42238 Other subsidies	0755	0756
4224 Direct tax authorities (ACD)	0757	0758
4225 Custom and excise duties authorities (ADA)	0759	0760
4226 Indirect tax authorities (AED)	0761	0762
42261 Value-added tax - VAT	0763	0764
422611 VAT paid and recoverable	0765	0766
422612 VAT receivable	0767	0768
422613 Advanced payments for VAT	0769	0770
422618 VAT - Other receivables	0771	0772
42262 Indirect taxes	0773	0774
422621 Registration duties	0775	0776
422622 Subscription tax	0777	0778
422623 Mortgage duties	0779	0780
422624 Stamp duties	0781	0782
422628 Other indirect taxes	0783	0784
4227 Amounts owed by the Social Security and other social
bodies	0785	0786
42271 Social Security office (CCSS)	0787	0788
42272 Employers mutual insurance fund	0789	0790
42278 Other social bodies	0791	0792
4228 Miscellaneous receivables	0793	0794
42281 Foreign taxes	0795	0796
422811 Foreign VAT	0797	0798
422818 Other foreign taxes	0799	0800
42288 Other miscellaneous receivables	0801	0802
42289 Value adjustments on other miscellaneous receivables	0803	0804
43 Payments received on account of orders as far as they are not deducted distinctly from inventories
431 Payments received on account within one year	0805	0806
	0807	0808

		KFPGYBX20170228T10525101_003
RCSL Nr.: B59154		Matricule : 1997 2207 635
432 Payments received on account after more than one year	Net debit balance 0809	Net credit balance 0810
44 Trade payables and bills of exchange	0811	9.973,12 0812
441 Trade payables	0813	9.973,12 0814
4411 Trade payables within one year	0815	9.973,12 0816
44111 Suppliers	0817	9.973,12 0818
44112 Suppliers - invoices not yet received	0819	0820
44113 Suppliers with a debit balance	0821	0822
441131 Suppliers - Advances and payments on account paid on orders	0823	0824
441132 Suppliers - Receivables for returnable packaging and material	0825	0826
441133 Suppliers - Other amounts owed by suppliers	0827	0828
441134 Rebates, discounts, refunds and other outstanding amounts receivable	0829	0830
4412 Trade payables after more than one year	0831	0832
44121 Suppliers	0833	0834
44122 Suppliers - invoices not yet received	0835	0836
44123 Suppliers with a debit balance	0837	0838
441231 Suppliers - Advances and payments on account paid on orders	0839	0840
441232 Suppliers - Receivables for returnable packaging and material	0841	0842
441233 Suppliers - Other amounts owed by suppliers	0843	0844
441234 Rebates, discounts, refunds and other outstanding amounts receivable	0845	0846
442 Bills of exchange payable	0847	0848
4421 Bills of exchange payable within one year	0849	0850
4422 Bills of exchange payable after more than one year	0851	0852
45 Amounts payable to affiliated undertakings and to undertakings linked by virtue of participating interests	0853	0854
451 Amounts payable to affiliated undertakings	0855	0856
4511 Amounts payable to affiliated undertakings within one year	0857	0858
45111 Purchases of merchandise and services	0859	0860
45112 Loans and cash advances	0861	0862
45113 Accrued interests	0863	0864
45114 Dividends payable	0865	0866
45118 Other payables	0867	0868

				KFPGYBX20170228T10525101_003
			RCSL Nr.: B59154	Matricule : 1997 2207 635
					Net debit balance		Net credit balance
		4512 Amounts payable to affiliated undertakings after more than
	one year			0869		0870
		45121 Purchases of merchandise and services		0871		0872
		45122 Loans and cash advances		0873		0874
		45123 Accrued interests		0875		0876
		45124 Dividends payable		0877		0878
		45128 Other payables		0879		0880
		452 Amounts payable to undertakings linked by virtue of participating interests		0881		0882
		4521 Amounts payable to undertakings linked by virtue of participating interests within one year		0883		0884
		45211 Purchases of merchandise and services		0885		0886
		45212 Loans and cash advances		0887		0888
		45213 Accrued interests		0889		0890
		45214 Dividends payable		0891		0892
		45218 Other payables		0893		0894
		4522 Amounts payable to undertakings linked by virtue of participating interests payable after more than one year		0895		0896
		45221 Purchases of merchandise and services		0897		0898
		45222 Loans and cash advances		0899		0900
		45223 Accrued interests		0901		0902
		45224 Dividends payable		0903		0904
		45228 Other payables		0905		0906
		46 Tax and social security debts		0907		0908
461 Tax debts				0909		0910
		4611 Municipal authorities		0911		0912
		46111 Municipal taxes		0913		0914
		46112 Municipal duties		0915		0916
		4612 Direct tax authorities (ACD)		0917		0918
		46121 Corporate income tax		0919		0920
		461211 Corporate income tax - Tax accrual		0921		0922
		461212 Corporate income tax		0923		0924
		46122 Municipal business tax		0925		0926
		461221 Municipal business tax - Tax accrual		0927		0928
		461222 Municipal business tax - Tax payable		0929		0930
		46123 Wealth tax		0931		0932
		461231 Wealth tax - Tax accrual		0933		0934
		461232 Wealth tax - Tax payable		0935		0936
		46124 Withholding tax on remunerations and wages		0937		0938
		46125 Withholding tax on financial investment income		0939		0940
		46126 Withholding tax on director's fees		0941		0942
		46128 ACD - Other amounts payable		0943		0944
		4613 Customs and excise duties authorities (ADA)		0945		0946
		46131 Motor vehicles duties		0947		0948
		46132 Excise duties and sales tax		0949		0950
		46138 ADA - Other amounts payable		0951		0952

	KFPGYBX20170228T10525101 003
	RCSL Nr.: B59154 Matricule : 1997 2207 635
	Net debit balance	Net credit balance
4614 Indirect tax authorities (AED)	0953	0954
46141 Value-added tax - VAT	0955	0956
461411 VAT received	0957	0958
461412 VAT payable	0959	0960
461413 VAT advanced payments received	0961	0962
461418 VAT - Other payables	0963	0964
46142 Indirect taxes	0965	0966
461421 Registration duties	0967	0968
461422 Subscription tax	0969	0970
461423 Mortgage duties	0971	0972
461424 Stamp duties	0973	0974
461428 Other indirect taxes	0975	0976
4615 Foreign tax authorities	0977	0978
462 Social security debts	0979	0980
4621 Social Security office (CCSS)	0981	0982
4622 Foreign Social Security offices	0983	0984
4628 Other social bodies	0985	0986
Other debts	0987	120.887.788,29 0988
471 Other debts payable within one year	0989	120.887.788,29 0990
4711 Received deposits and guarantees	0991	0992
47111 Deposits	0993	0994
47112 Guarantees	0995	0996
47113 Accrued interests	0997	0998
4712 Amounts payable to partners and shareholders	0999	120.233.086,73 1000
47121 Principal amount	1001	120.173.735,36 1002
47122 Accrued interests	1003	59.351,37 1004
4713 Amounts payable to directors, managers and statutory auditors	1005	1006
4714 Amounts payable to staff	1007	1008
47141 Staff - Remuneration payable	1009	1010
47142 Staff - Deposits	1011	1012
47143 Staff - Stop payment and seizures on wages	1013	1014
47148 Staff - Other	1015	1016
4715 State - Emission rights to be returned	1017	1018
4718 Other miscellaneous debts	1019	654.701,56 1020
472 Other debts payable after more than one year	1021	1022
4721 Received deposits and guarantees	1023	1024
47211 Deposits	1025	1026
47212 Guarantees	1027	1028
47213 Accrued interests	1029	1030
4722 Amounts payable to partners and shareholders	1031	1032
47221 Principal amount	1033	1034
47222 Accrued interests	1035	1036
4723 Amounts payable to directors, managers and statutory
auditors	1037	1038

47

KFPGYBX20170228T10525101_003

Net debit balance Net credit balance 4724 Amounts payable to staff 1040 1039 47241 Staff - Remuneration payable 1041 1042 47242 Staff - Deposits 1043 1044 47243 Staff - Stop payment and seizures on wages 1045 1046 47248 Staff - Other 1047 1048 4726 State - Emission rights to be returned 1049 1050 4728 Other miscellaneous debts 1051 1052 1054 1053 1055 1056 1057 1058 1060 1059 1061 1062 1064 1063 1066 1065 1068 1067		RCSL Nr.: B59154	Matricule : 1997 2207 635
	Deferred charges and income
	481 Deferred charges
	482 Deferred income
	483 State - Emission rights received
	484 Transitory or suspense accounts - Assets
	485 Transitory or suspense accounts - Liabilities
	486 Linking accounts - Assets
	487 Linking accounts - Liabilities

Class 5. FINANCIAL ACCOUNTS

48

	Net debit balance	Net credit balance
50 Transferable securities	1069	1070
501 Shares in affiliated undertakings	1071	1072
502 Shares in undertakings linked by virtue of participating interests	1073	1074
503 Own shares or own corporate units	1075	1076
508 Other transferable securities	1077	1078
5081 Listed securities	1079	1080
5082 Unlisted securities	1081	1082
5083 Debenture loans and notes issued and repurchased by the company	1083	1084
5084 Listed debenture loans	1085	1086
5085 Unlisted debenture loans	1087	1088
5088 Other miscellaneous transferable securities	1089	1090
51 Cash at bank, in postal cheques accounts, cheques and in hand	90.327,64
511 Cheques to cash	1091 1093	1092 1094
512 Value for collection	1095	1096
513 Banks	90.327,64 1097	1098
5131 Banks current accounts	90.327,64 1099	1100
5132 Banks term deposit accounts	1101	1102
514 Post office account	1103	1104
516 Cash in hand	1105	1106
517 Internal transfers	1107	1108
518 Other cash amounts	1109	1110

11111

1112__

RCSL Nr.: B59154

KFPGYBX20170228T10525101_003

Matricule : 1997 2207 635

Class 6. CHARGES ACCOUNTS

	Net debit balance	Net credit balance
60 Use of merchandise, raw and consumable materials	1113	1114
601 Raw materials	1115	1116
602 Consumable materials	1117	1118
603 Consumable supplies	1119	1120
6031 Fuels	1121	1122
60311 Solid	1123	1124
60312 Liquid	1125	1126
60313 Compressed gas	1127	1128
6032 Maintenance supplies	1129	1130
6033 Workshop and factory supplies	1131	1132
6034 Store supplies	1133	1134
6035 Office supplies	1135	1136
6036 Motor fuels	1137	1138
6037 Lubricants	1139	1140
6038 Other consumable supplies	1141	1142
604 Packaging	1143	1144
6041 Non-returnable packaging	1145	1146
6042 Returnable packaging	1147	1148
6043 Mixed usage packaging	1149	1150
605 Supplies	1151	1152
606 Goods purchased for resale	1153	1154
6061 Land	1155	1156
6062 Buildings	1157	1158
6063 Merchandise	1159	1160
607 Changes in inventory	1161	1162
6071 Changes in inventory of raw materials	1163	1164
6072 Changes in inventory of consumable materials	1165	1166
6073 Changes in inventory of consumable supplies	1167	1168
6074 Changes in inventory of packaging	1169	1170
6075 Changes in inventory of supplies	1171	1172
6076 Changes in inventory of goods purchased for resale	1173	1174
608 Not stocked purchased items and items included in the production of goods and services	1175	1176
6081 Not stocked purchased materials and supplies	1177	1178
60811 Not stocked supplies	1179	1180
608111 Water	1181	1182
608112 Electricity	1183	1184
608113 Gas	1185	1186
60812 Maintenance supplies and tools	1187	1188
60813 Office supplies	1189	1190
60814 Fuels	1191	1192
60815 Lubricants	1193	1194
60816 Working clothes	1195	1196
60818 Other not stocked materials and supplies	1197	1198

	KFPGYBX20170228T10525101 003
RCSL Nr.: B59154	Matricule : 1997 2207 635
6082 Items included in the production of goods and services	Net debit balance 1199	Net credit balance 1200
60821 Purchased surveys and services (included in the
production of goods and services)	1201	1202
608211 Tailoring	1203	1204
608212 Research and development	1205	1206
608213 Architects and engineers fees	1207	1208
60822 Purchased material, equipment, spare parts and work (included in the production of goods and services)	1209	1210
60828 Other purchased surveys and services	1211	1212
609 Rebates, discounts and refunds received	1213	1214
6091 Raw materials	1215	1216
6092 Consumable materials	1217	1218
6093 Consumable supplies	1219	1220
6094 Packaging	1221	1222
6095 Supplies	1223	1224
6096 Goods purchased for resale	1225	1226
6098 Not stocked purchased items and items included in the
production of goods and services	1227	1228
6099 Not allocated rebates, discounts and refunds	1229	1230
Other external charges	103.723,41 1231	1232
611 Rents and service charges	1233	1234
6111 Rents for real property	1235	1236
61111 Land	1237	1238
61112 Buildings	1239	1240
6112 Rents on movable property	1241	1242
61121 Plant and machinery	1243	1244
61122 Other fixtures and fittings, tools and equipment	1245	1246
61123 Motor vehicles	1247	1248
6113 Service charges and co-ownership expenses	1249	1250
6114 Leasing on real property	1251	1252
61141 Land	1253	1254
61142 Buildings	1255	1256
6115 Leasing on movable property	1257	1258
61151 Plant and machinery	1259	1260
61152 Other fixtures and fittings, tools and equipment	1261	1262
61153 Motor vehicles	1263	1264
6116 Losses on packaging	1265	1266
612 Subcontracting, maintenance and repairs	1267	1268
6121 General subcontracting (not included in the production of goods and services)	1269	1270
6122 Maintenance and repairs	1271	1272
61221 Of plant and machinery	1273	1274
61222 Of other fixtures and fittings, tools and equipment	1275	1276
61223 Of motor vehicles	1277	1278
6123 Maintenance contracts	1279	1280
6124 Surveys and research costs (not included in the production
of goods and services)	1281	1282

61

	KFPGYBX20170228T10525101_003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
613 Commissions and professional fees	96.080,93 1283	1284
6131 Commission and brokerage fees	1285	1286
61311 Commission and brokerage fees on purchases	1287	1288
61312 Commission and brokerage fees on sales	1289	1290
61313 Forwarding agents fees	1291	1292
6132 IT processing	1293	1294
6133 Banking and similar services	4.157,42 1295	1296
61331 Fees for securities (purchase, sale, custody)	58,48 1297	1298
61332 Commissions and loans' issuance expenses	1299	1300
61333 Bank account charges	4.098,94 1301	1302
61334 Credit card charges	1303	1304
61335 Bill of exchange charges	1305	1306
61336 Factoring services	1307	1308
61337 Safe deposit box rental expenses	1309	1310
61338 Other bank expenses and commissions (except
interests and similar expenses)	1311	1312
6134 Professional fees	91.923,51 1313	1314
61341 Legal fees	3.758,91 1315	1316
61342 Accounting and auditing fees	34.450,09 1317	1318
61343 Tax consulting fees	5.161,20 1319	1320
61348 Other fees	48.553,31 1321	1322
6135 Legal documents and litigation expenses	1323	1324
6136 Staff recruitment expenses	1325	1326
6138 Other commissions and professional fees	1327	1328
614 Insurance premiums	1329	1330
6141 Insurances for assets	1331	1332
61411 Buildings	1333	1334
61412 Motor vehicles	1335	1336
61413 Plant	1337	1338
61418 On other assets	1339	1340
6142 Insurances on rented assets	1341	1342
6143 Transport insurance	1343	1344
61431 on purchases	1345	1346
61432 on sales	1347	1348
61438 on other goods
6144 Business risk insurance	1349	1350
6145 Customers credit insurance	1351	1352
6146 Third-party insurance	1353	1354
6148 Other insurances	1355	1356
	1357	1358
615 Marketing and communication costs	467,73 1359	1360
6151 Marketing and advertising costs	1361	1362
61511 Press advertising	1363	1364
61512 Samples	1365	1366
61513 Fairs and exhibitions	1367	1368
61514 Gifts to customers	1369	1370
61515 Catalogues, printed matters and publications	1371	1372
61516 Ordinary gifts	1373	1374
61517 Sponsorship	1375	1376
61518 Other purchases of advertising services	1377	1378

			KFPGYBX20170228T10525101 003
	RCSL Nr.: B59154		Matricule : 1997 2207 635
			Net debit balance	Net credit balance
	6152 Travelling and entertainment expenses	1379	467,73	1380
	61521 Travel expenses	1381	467,73	1382
	615211 Managers (respectively owner and partner)	1383		1384
	615212 Staff	1385	467,73	1386
	61522 Relocation expenses	1387		1388
	61523 Business assignments	1389		1390
	61524 Receptions and entertainment costs	1391		1392
	6153 Postal charges and telecommunication costs	1393		1394
	61531 Postage stamps	1395		1396
	61532 Telephone and other telecommunication costs	1397		1398
	61538 Other postal charges (hiring of P.O. boxes, etc.)	1399		1400
	616 Transportation of goods and collective staff transportation	1401		1402
	6161 Transportation of purchased goods	1403		1404
	6162 Transportation of sold goods	1405		1406
	6163 Transportation between buildings or sites	1407		1408
	6164 Administrative transportation	1409		1410
	6165 Collective staff transportation	1411		1412
	6168 Other transportation	1413		1414
	617 External staff of the company
	6171 Temporary staff	1415		1416
	6172 External staff on secondment	1417		1418
	618 Miscellaneous external charges	1419		1420
	6181 Documentation	1421	7.174,75	1422
		1423		1424
	61811 General documentation	1425		1426
	61812 Technical documentation	1427		1428
	6182 Costs of symposiums, seminars, conferences	1429		1430
	6183 Industrial waste treatment	1431		1432
	6184 Non industrial waste treatment	1433		1434
	6185 Waste water collection	1435		1436
	6186 Security charges	1437		1438
	6187 Contributions to professional organisations	1439	7.174,75	1440
	6188 Other miscellaneous external charges	1441		1442
charges	619 Rebates, discounts and refunds received on other external
		1443		1444
62 Staff expenses		1445		1446
	621 Staff remuneration	1447		1448
	6211 Gross wages	1449		1450
	62111 Base wages	1451		1452
	62112 Wage supplements	1453		1454
	621121 Sunday	1455		1456
	621122 Public holidays	1457		1458
	621123 Overtime	1459		1460
	621128 Other supplements	1461		1462
	62113 Household indemnities	1463		1464
	62114 Incentives, bonuses and commissions	1465		1466
	62115 Benefits in kind
		1467		1468
	62116 Severance pay	1469		1470
	62117 Preferential pay	1471		1472

		KFPGYBX20170228T10525101 003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
			Net debit balance	Net credit balance
	6218 Other benefits	1473		1474
	6219 Refunds on wages paid	1475		1476
	62191 Refunds from employers mutual fund	1477		1478
	62192 Refunds for political, sporting, cultural, educational leave and social mandates	1479		1480
	62193 Refunds on preferential pay	1481		1482
	622 Other staff remuneration	1483		1484
	6221 Students	1485		1486
	6222 Casual workers	1487		1488
	6228 Other temporary staff	1489		1490
	623 Social security costs (employer's share)	1491		1492
	6231 Social security on wages	1493		1494
	62311 National Health Insurance Fund	1495		1496
	62312 National Pension Insurance Fund	1497		1498
	62318 Complementary employer's contributions	1499		1500
	6232 Occupational accident insurance	1501		1502
	6233 Occupational healthcare	1503		1504
	6238 Other social costs (employers' share)	1505		1506
	6239 Refunds of Social Security costs	1507		1508
	624 Complementary pensions costs	1509		1510
	6241 Premiums for external pensions funds	1511		1512
	6242 Allocation to provisions for complementary pensions costs	1513		1514
	6243 Withholding tax on complementary pensions costs	1515		1516
	6244 Insolvency insurance premiums	1517		1518
	6245 Complementary pensions costs paid by the employer	1519		1520
	628 Miscellaneous social costs	1521		1522
	6281 Occupational medicine	1523		1524
	6288 Other miscellaneous social costs	1525		1526
	63 Allocations to value adjustments on non-financial assets	1527		1528
	631 Allocations to value adjustments on formation expenses and similar expenses	1529		1530
	6311 Formation expenses (set-up costs)	1531		1532
	6312 Formation expenses (start-up costs)	1533		1534
	6313 Expenses for capital increase and for various operations	1535		1536
	6314 Loans issuance expenses	1537		1538
	6318 Other similar expenses	1539		1540
	632 Allocations to value adjustments on intangible fixed assets	1541		1542
	6321 Research and development costs	1543		1544
	6322 Concession contracts, patents, licences, trademarks and
	similar rights and values	1545		1546
	6323 Goodwill acquired for consideration	1547		1548
	6324 Advance payments and intangible fixed assets under
	development	1549		1550

		KFPGYBX20170228T10525101 003
	RCSL Nr.: B59154	Matricule : 1997 2207 635
633 Allocations to value adjustments on tangible fixed assets		Net debit balance	Net credit balance
6331 Land and buildings		1551	1552
63311 Land		1553	1554
		1555	1556
63312 Fitting-outs and installations of land		1557	1558
63313 Buildings		1559	1560
6332 Plant and machinery		1561	1562
6333 Other fixtures and fittings, tools, equipment and motor vehicles		1563	1564
6334 Advance payments and tangible fixed assets under construction		1565	1566
634 Allocations to value adjustments on inventories		1567	1568
6341 Raw materials and consumables		1569	1570
6342 Work and contracts in progress		1571	1572
6343 Finished goods and merchandise		1573	1574
6344 Land and buildings held for resale		1575	1576
6345 Advanced payments		1577	1578
635 Allocations to value adjustments on receivables from
current assets		1579	1580
6351 Trade receivables		1581	1582
6352 Amounts owed by affiliated undertakings and undertakings linked by virtue of participating interests		1583	1584
6353 Other receivables		1585	1586
64 Other operating charges		2.995,39 1587	1588
641 Fees and royalties for concession contracts, patents, licences, trademarks and similar rights and values		2.995,39 1589	1590
6411 Concession contracts		1591	1592
6412 Patents		1593	1594
6413 Software licences		1595	1596
6414 Trademarks and franchise		2.995,39 1597	1598
6415 Similar rights and values		1599	1600
64151 Copyrights and reproduction rights		1601	1602
64158 Other similar rights and values		1603	1604
642 Indemnities
643 Attendance fees		1605	1606
644 Director's fees		1607	1608
645 Losses on receivables		1609	1610
		1611	1612
6451 Receivables from trade receivables		1613	1614
6452 Amounts owed by affiliated undertakings and undertakings with which the company is linked by virtue of participating interests
6453 Other receivables		1615	1616
		1617	1618
646 Taxes, duties and similar expenses		1619	1620
6461 Real property tax		1621	1622
6462 Non-deductible VAT		1623	1624
6463 Duties on imported merchandise		1625	1626
64631 Excise duties and sales taxes on imported merchandise		1627	1628
64632 Customs duties		1629	1630
64633 Countervailing duties		1631	1632
6464 Excise duties and sales taxes on production		1633	1634

	KFPGYBX20170228T10525101_003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
6465 Registration fees, stamps and mortgage duties	1635	1636
64651 Registration fees	1637	1638
64652 Subscription tax	1639	1640
64653 Mortgage duties	1641	1642
64654 Stamp duties	1643	1644
64658 Other registration fees, stamps and mortgage duties	1645	1646
6466 Motor vehicles taxes	1647	1648
6467 Bar licence tax	1649	1650
6468 Other duties and taxes	1651	1652
6469 Allocations to tax provisions	1653	1654
647 Allocations to temporarily not taxable capital gains	1655	1656
648 Other miscellaneous operating charges	1657	1658
649 Allocations to operating provisions	1659	1660
65 Financial charges	422.491,82
651 Allocations to value and fair value adjustments of financial	1661	1662
fixed assets	3.326,46 1663	1664
6511 Allocations to value adjustments on financial fixed assets	3.326,46 1665	1666
65111 Shares in affiliated undertakings	1667	1668
65112 Amounts owed by affiliated undertakings	1669	1670
65113 Shares in undertakings with which the company is linked by virtue of participating interests	1671	1672
65114 Amounts owed by undertaking with which the company is linked by virtue of participating interests	1673	1674
65115 Securities held as fixed assets	3.326,46 1675	1676
65116 Loans and claims held as fixed assets	1677	1678
65117 Own shares or own corporate units	1679	1680
6512 Fair value adjustments on financial fixed assets	1681	1682
653 Allocations to value and fair value adjustments on financial current assets	1683	1684
6531 Allocations to value adjustments on transferable securities	1685	1686
65311 Shares in affiliated undertakings	1687	1688
65312 Shares in undertakings with which the company is linked by virtue of participating interests	1689	1690
65313 Own shares or own corporate units	1691	1692
65318 Other transferable securities	1693	1694
6532 Allocations to value adjustments on receivables from affiliated undertakings and undertakings with which the company is linked by virtue of participating interests
6533 Allocations to value adjustments on other financial	1695	1696
receivables from current assets	1697	1698
6534 Fair value adjustments on financial current assets	1699	1700
654 Loss on disposal of transferable securities	1701	1702
6541 Shares in affiliated undertakings	1703	1704
6542 Shares in in undertakings with which the company is linked by virtue of participating interests	1705	1706
6543 Own shares or corporate units	1707	1708
6548 Other transferable securities	1709	1710

KFPGYBX20170228T10525101 003
RCSL Nr.: B59154 Matricule : 1997 2207 635
		Net debit balance	Net credit balance
655 Interests and discounts	1711	148.768,77	1712
6551 Interests on financial debts	1713		1714
65511 Interests on subordinated debts	1715		1716
65512 Interests on debenture loans	1717		1718
6552 Bank interests and similar expenses	1719	0,01	1720
65521 Banking interests on current accounts	1721	0,01	1722
65522 Banking interests on financial operations	1723		1724
65523 Interests on financial leasings	1725		1726
6553 Interests on trade payables	1727		1728
6554 Interests payable to affiliated undertakings and undertakings with which the company is linked by virtue of participating interests	1729		1730
6555 Discounts and charges on bills of exchange	1731		1732
6556 Granted discounts	1733		1734
6558 Interests payable on other loans and debts	1735	148.768,76	1736
656 Foreign currency exchange losses		2/0.396,59
657 Share in the losses of other undertakings (other than joint	1737		1738
stock companies)	1739		1740
658 Other financial charges	1741		1742
659 Allocations to financial provisions	1743		1744
66 Extraordinary charges	1745	47,00	1746
661 Allocations to extraordinary value adjustments on intangible and tangible fixed assets	1747		1748
6611 On intangible fixed assets	1749		1750
6612 On tangible fixed assets	1751		1752
662 Allocations to extraordinary value adjustments on current
assets	1753		1754
6621 On inventories	1755		1756
6622 On receivables	1757		1758
663 Book value of yielded intangible and tangible fixed assets	1759		1760
6631 Intangible fixed assets	1761		1762
6632 Tangible fixed assets	1763		1764
664 Book value of yielded financial assets	1765		1766
6641 Shares in affiliated undertakings	1767		1768
6642 Amounts owed by affiliated undertakings	1769		1770
6643 Shares in undertakings with which the company is linked by virtue of participating interests	1771		1772
6644 Amounts owed by undertakings with which the company is linked by virtue of participating interests	1773		1774
6645 Securities held as fixed assets	1775		1776
6646 Loans and claims held as fixed assets	1777		1778
6647 Own shares or own corporate units	1779		1780
665 Book value of yielded financial receivables from current assets	1781		1782
6651 From affiliated undertakings and from undertakings with which the company is linked by virtue of participating
interests	1783		1784
6652 From other receivables	1785		1786

		KFPGYBX20170228T10525101 003
RCSL Nr.: B59154		Matricule : 1997 2207 635
		Net debit balance	Net credit balance
668 Other extraordinary charges	1787	47,00	1788
6681 Fines on contracts and default penalties on purchases and sales	1789		1790
6682 Tax fines and penalties in relation with tax, social and criminal matters	1791	47,00	1792
6683 Indemnities for damage claims	1793		1794
6684 Losses in relation to indexing clauses	1795		1796
6688 Other miscellaneous extraordinary charges	1797		1798
669 Allocations to extraordinary provisions	1799		1800
67 Income taxes	1801		1802
671 Corporate income tax	1803		1804
6711 Current financial year	1805		1806
6712 Previous financial years	1807		1808
672 Municipal business tax	1809		1810
6721 Current financial year	1811		1812
6722 Previous financial years	1813		1814
673 Foreign income taxes	1815		1816
6731 Withholding taxes	1817		1818
6732 Taxes levied on foreign branches or seats of activities	1819		1820
67321 Current financial year	1821		1822
67322 Previous financial years	1823		1824
6733 Taxes levied on non-resident undertakings	1825		1826
6738 Other foreign taxes	1827		1828
679 Allocations to provisions for income taxes	1829		1830
6791 Allocations to provisions for taxes	1831		1832
6792 Allocations to provisions for deferred taxes	1833		1834
68 Other taxes not included in the previous caption	1835	7.615,25	1836
681 Wealth tax	1837	3.210,00	1838
6811 Current financial year	1839	3.210,00	1840
6812 Previous financial years	1841		1842
682 Subscription tax	1843		1844
683 Foreign taxes	1845		1846
688 Other taxes and duties	1847	4.405,25	1848
689 Allocations to provisions for other taxes	1849		1850

Class 7. INCOME ACCOUNTS

70 Net turnover 1852 1851 701 Sales on contracts in progress 1853 1854 7011 Goods 1855 1856 7012 Services 1857 1858 7013 Buildings under construction 1859 1860 702 Sales of finished goods 1861 1862 703 Sales of semi-finished goods 1863 1864 704 Sales of residual products 1865 1866

Net debit balance

Net credit balance

			KFPGYBX20170228T10525101_003
RCSL Nr.: B59154			Matricule : 1997 2207 635
			Net debit balance	Net credit balance
	705 Sales of goods acquired for resale	1867		1868
	7051 Sales of merchandise	1869		1870
	7052 Sales of land and existing buildings (real estate
	development)	1871		1872
	7053 Sales of other goods acquired for resale 706 Sales of services	1873		1874
	708 Other components of turnover	1875		1876
		1877		1878
	7081 Commissions and brokerage fees 7082 Rents	1879		1880
		1881		1882
	70821 Rent on real property	1883		1884
	70822 Rent on movable property	1885		1886
	7083 Sales of packaging	1887		1888
	7088 Other miscellaneous components of turnover 709 From the company granted rebates, discounts and refunds	1889		1890
	7091 On sales on contracts in progress	1891		1892
	7092 On sales of finished goods	1893		1894
	7093 On sales of semi-finished goods	1895		1896
		1897		1898
	7094 On sales of residual goods 7095 On sales of goods acquired for resale	1899		1900
	7096 On services	1901		1902
	7098 On other components of turnover	1903		1904
		1905		1906
	71 Change in inventories of finished goods, of work and
	contracts in progress	1907		1908
	711 Change in inventories of work and contracts in progress	1909		1910
	7111 Change in inventories of work in progress	1911		1912
	7112 Change in inventories of contracts in progress - goods	1913		1914
	7113 Change in inventories of contracts in progress - services	1915		1916
	7114 Change in inventories of buildings under construction	1917		1918
	712 Change in inventories of finished goods and merchandise	1919		1920
	7121 Change in inventories of finished goods	1921		1922
	7122 Change in inventories of semi-finished goods	1923		1924
	7123 Change in inventories of residual goods	1925		1926
	7126 Change in inventories of merchandise	1927		1928
	7127 Change in inventories of merchandise in transit, held for safekeeping or in consignment	1929		1930
	72 Own work capitalised	1931		1932
	721 Intangible fixed assets	1933		1934
	7211 Research and development costs	1935		1936
	7212 Concession contracts, patents, licences, trademarks and similar rights and values	1937		1938
	72121 Concession contracts	1939		1940
	72122 Patents	1941		1942
	72123 Software licences	1943		1944
	72124 Trademarks and franchise	1945		1946

					KFPGYBX20170228110525101 003
			RCSL Nr. : B59154		Matricule : 1997 2207 635
		72125 Similar rights and values			Net debit balance	Net credit balance
		721251 Copyrights and reproduction rights		1947		1948
		721258 Other similar rights and values		1949		1950
		722 Tangible fixed assets		1951		1952
		7221 Land and buildings		1953		1954
		7222 Plant and machinery		1955		1956
		7223 Other fixtures and fittings, tools, equipment and motor		1957		1958
		vehicles		1959		1960
		73 Reversals of value adjustments of non-financial assets		1961		1962
		732 Reversals of value adjustments of intangible fixed assets		1963		1964
		7321 Research and development costs		1965		1966
		7322 Concession contracts, patents, licences, trademarks and similar rights and values		1967		1968
		7323 Goodwill, acquired for valuable consideration		1969		1970
		7324 Advance payments and intangible fixed assets under
		development		1971		1972
		733 Reversals of value adjustments of tangible fixed assets		1973		1974
		7331 Land and buildings		1975		1976
		73311 Land		1977		1978
		73312 Fitting-outs and installation of land		1979		1980
		73313 Constructions		1981		1982
		73314 Constructions on third party land		1983		1984
		7332 Plant and machinery		1985		1986
		7333 Other fixtures and fittings, tools, equipment and motor vehicles		1987		1988
		7334 Advance payments and tangible fixed assets under
		construction		1989		1990
		734 Reversals of value adjustments of inventories		1991		1992
		7341 Raw materials and consumables		1993		1994
		7342 Work and contracts in progress		1995		1996
		7343 Finished goods and merchandise		1997		1998
		7344 Land and building held for resale		1999		2000
		7345 Advance payments		2001		2002
		735 Reversals of value adjustments of receivables from current
	assets			2003		2004
		7351 Trade receivables		2005		2006
		7352 Amounts owed by affiliated undertakings and undertakings with which the company is linked by virtue of participating
		interests 7353 Other receivables		2007		2008
				2009		2010
		74 Other operating income		2011		2012
		741 Fees and royalties for concession contracts, patents, licences, trademarks and similar rights and values		2013		2014
		7411 Concessions		2015		2016
		7412 Patents		2017		2018
		7413 Software licences		2019		2020
		7414 Trademarks and franchise		2021		2022
		7415 Similar rights and values		2023		2024
		74151 Copyrights and reproduction rights		2025		2026
		74158 Other similar rights and values		2027		2028

	KFPGYBX20170228T10525101_003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
742 Income of buildings non affected to business activities	2029	2030
743 Attendance fees, director's fees and similar remunerations	2031	2032
744 Subsidies for operating activities	2033	2034
7441 Production subsidies	2035	2036
7442 Interest subsidies	2037	2038
7443 Countervailing duties	2039	2040
7444 Subsidies in favour of employment development	2041	2042
74441 Subsidies for apprenticeship	2043	2044
74442 Other subsidies in favour of employment development	2045	2046
7448 Other subsidies for operating activities	2047	2048
745 Received refunds of co-operatives (originated from their surpluses)	2049	2050
746 Received insurance indemnities	2051	2052
747 Reversals of temporarily not taxable capital gains and of investment subsidies	2053	2054
7471 Temporarily not taxable capital gains not reinvested	2055	2056
7472 Temporarily not taxable capital gains reinvested	2057	2058
7473 Capital investment subsidies	2059	2060
748 Other miscellaneous operating income	2061	2062
749 Reversals of operating provisions	2063	2064
75 Financial income	2065	12.123.406,93 2066
751 Reversals of value adjustments and fair value adjustments on financial fixed assets	2067	1.523.624,37 2068
7511 Reversals of value adjustments of financial fixed assets	2069	1.523.624,37 2070
75111 Shares in affiliated undertakings	2071	2072
75112 Amounts owed by affiliated undertakings	2073	2074
75113 Shares in undertakings with which the company is linked by virtue of participating interests	2075	1.506.200,78 2076
75114 Amounts owed by undertakings with which the company is linked by virtue of participating interests	2077	2078
75115 Securities held as fixed assets	2079	17.423,59 2080
75116 Loans and claims held as fixed assets	2081	2082
75117 Own shares or corporate units	2083	2084
7512 Fair value adjustments on financial fixed assets	2085	2086
752 Income from financial fixed assets	2087	10.591.444,72 2088
7521 Shares in affiliated undertakings	2089	10.454.950,19 2090
7522 Amounts owed by affiliated undertakings	2091	136.494,53 2092
7523 Shares in undertakings with which the company is linked by virtue of participating interests	2093	2094
7524 Amounts owed by undertakings with which the company is linked by virtue of participating interests	2095	2096
7525 Securities held as fixed assets	2097	2098
7526 Loans and claims held as fixed assets	2099	2100
7527 Own shares or own corporate units	2101	2102

	KFPGYBX20170228T10525101 003
RCSL Nr.: B59154	Matricule : 1997 2207 635
753 Reversals of value adjustments and fair value adjustments	Net debit balance	Net credit balance
on financial current assets	2103	2104
7531 Reversals of value adjustments on amounts owed by affiliated undertakings and undertakings with which the company is linked by virtue of participating interests
7532 Reversals of value adjustments of other receivables	2105	2106
7533 Reversals of value adjustments of transferable securities	2107	2108
75331 Shares in affiliated undertakings	2109 2111	2110 2112
75332 Shares in undertakings with which the company is linked by virtue of participating interests	2113	2114
75333 Own shares or corporate units	2115	2116
75338 Other transferable securities	2117	2118
7534 Fair value adjustments on financial current assets	2119	2120
754 Gains on disposal of and other income from transferable securities	2121	2122
7541 Gains on disposal of transferable securities	2123	2124
75411 Shares in affiliated undertakings	2125	2126
75412 Shares in undertakings with which the company is linked by virtue of participating interests	2127	2128
75413 Own shares or corporate units	2129	2130
75418 Other transferable securities
7548 Other income from transferable securities	2131	2132
75481 Shares in affiliated undertakings	2133	2134
75482 Shares in undertakings linked with which the company is linked by virtue of participating interests	2135 2137	2136 2138
75483 Own shares or corporate units	2139	2140
75488 Other transferable securities	2141	2142
755 Other interest income and discounts	2143	2144
7552 Bank and similar interests
75521 Interests on current accounts	2145	2146
	2147	2148
75522 Interests on deposit accounts	2149	2150
75523 Interests on financial leasings 7553 Interests on trade receivables	2151	2152
7554 Interests on amounts owed by affiliated undertakings and undertakings with which the company is linked by virtue of	2153	2154
participating interests	2155	2156
7555 Discounts on bills of exchange	2157	2158
7556 Received discounts	2159	2160
7558 Interests on other amounts receivable	2161	2162
756 Foreign currency exchange gains	2163	8.337,84 2164
757 Share of profit from other undertakings (other than joint
stock companies)	2165	2166
758 Other financial income	2167	2168
759 Reversals of financial provisions	2169	2170
76 Extraordinary income	2171	2172
761 Reversals of extraordinary value adjustments of intangible and tangible fixed assets
7611 Intangible fixed assets	2173	2174
	2175	2176
7612 Tangible fixed assets	2177	2178

	KFPGYBX20170228T10525101 003
RCSL Nr.: B59154	Matricule : 1997 2207 635
	Net debit balance	Net credit balance
762 Reversals of extraordinary value adjustments of components from current assets	2179	2180
7621 Of inventories	2181	2182
7622 Of receivables from current assets	2183	2184
763 Income of yielded intangible and tangible fixed assets	2185	2186
7631 Intangible fixed assets	2187	2188
7632 Tangible fixed assets	2189	2190
764 Income of yielded financial fixed assets	2191	2192
7641 Shares in affiliated undertakings	2193	2194
7642 Amounts owed by affiliated undertakings	2195	2196
7643 Shares in undertakings with which the company is linked by virtue of participating interests	2197	2198
7644 Amounts owed by undertakings with which the company is linked by virtue of participating interests	2199	2200
7645 Securities held as fixed assets	2201	2202
7646 Loans and claims held as fixed assets	2203	2204
7647 Own shares or corporate units	2205	2206
765 Income of yielded financial receivables from current assets	2207	2208
7651 Amounts owed by affiliated undertakings and undertakings with which the company is linked by virtue of participating
interests	2209	2210
7652 Other receivables	2211	2212
768 Other extraordinary income	2213	2214
7681 Fines on contracts and default penalties received on purchases and sales	2215	2216
7682 Received gifts	2217	2218
7683 Amounts recovered on written-of receivables	2219	2220
7684 Extraordinary subsidies	2221	2222
7685 Gains in relation to indexing clauses	2223	2224
7686 Gains on repurchases of own shares and debenture loans	2225	2226
7688 Other miscellaneous extraordinary income	2227	2228
769 Reversal of extraordinary provisions	2229	2230
77 Adjustments of income taxes	2231	2232
771 Adjustments of corporate income tax	2233	2234
772 Adjustments of municipal income tax	2235	2236
773 Adjustments of foreign income taxes	2237	2238
779 Reversals of provisions for income taxes	2239	2240
7791 Reversals of provisions for taxes	2241	2242
7792 Reversals of provisions for deferred taxes	2243	2244
78 Adjustments of other taxes not included in the previous caption	2245	2246
781 Adjustments of wealth tax	2247	2248
782 Adjustments of subscription tax	2249	2250
783 Adjustments of foreign taxes	2251	2252
788 Adjustments of other taxes and duties	2253	2254
789 Reversals of provisions for other taxes	2255	2256

TOTAL CLASSES 6 AND 7

KFPGYBX20170228T10525101_003

RCSL Nr. : B59154 Matricule : 1997 2207 635

ANNEX TO THE STANDARD CHART OF ACCOUNTS

Annex N° 1 - Class 1 : Sub-accounts of the account 106

	Net debit balance	Net credit balance
106 Accounts of the owner or the co-owners (individual
business persons)	2259	2260
1061 Withdrawals for the owner's or the co-owners' personal
use	2261	2262
10611 Cash withdrawals (daily life)	2263	2264
10612 Withdrawals of merchandise, finished products and services (at cost)	2265	2266
10613 Private share of medical services expenses	2267	2268
10614 Private insurance premiums	2269	2270
106141 Life insurance	2271	2272
106142 Accident insurance	2273	2274
106143 Fire insurance	2275	2276
106144 Third-party insurance	2277	2278
106145 Full coverage insurance	2279	2280
106148 Other private insurance premiums	2281	2282
10615 Contributions	2283	2284
106151 Social Security	2285	2286
106152 Child benefit office	2287	2288
106153 Health insurance funds	2289	2290
106154 Death and other health insurance funds	2291	2292
106158 Other contributions	2293	2294
10616 In kind withdrawals (personal share of operating costs)	2295	2296
106161 Wages	2297	2298
106162 Rent	2299	2300
106163 Heating, gas, electricity	2301	2302
106164 Water	2303	2304
106165 Telephone	2305	2306
106166 Car	2307	2308
106168 Other in kind withdrawals	2309	2310
10617 Acquisitions	2311	2312
106171 Private furniture	2313	2314
106172 Private car	2315	2316
106173 Private held securities	2317	2318
106174 Private buildings	2319	2320
106178 Other acquisitions	2321	2322
10618 Taxes	2323	2324
106181 Income tax paid	2325	2326
106182 Wealth tax paid	2327	2328
106183 Municipal business tax - payment in arrears	2329	2330
106188 Other taxes	2331	2332

				KFPGYBX20170228T10525101 003
		RCSL Nr. : B59154		Matricule : 1997 2207 635
				Net debit balance	Net credit balance
	10619 Special private withdrawals		2333	2334
	106191 Repairs to private buildings		2335	2336
	106192 Deposits on private financial accounts		2337	2338
	106193 Refund of private debts		2339	2340
	106194 Gifts and allowance to children		2341	2342
	106195 Inheritance taxes and mutation tax due to death		2343	2344
	106198 Other special private withdrawals		2345	2346
owners	1062 Additional private contributions from the owner or the co-		2347	2348
	10621 Inheritance or donation		2349	2350
	10622 Personal holdings		2351	2352
	10623 Private loans		2353	2354
	10624 Disposals		2355	2356
	106241 Private Furniture		2357	2358
	106242 Private Car		2359	2360
	106243 Private shares / bonds		2361	2362
	106244 Private buildings		2363	2364
	106248 Other disposals		2365	2366
	10625 Received rents		2367	2368
	10626 Received wages or pensions		2369	2370
	10627 Received child benefit		2371	2372
	10628 Tax refunds		2373	2374
	106281 Income tax		2375	2376
	106283 Wealth tax		2377	2378
	106284 Municipal business tax		2379	2380
	106288 Other tax refunds		2381	2382
	10629 Business share in private expenses		2383	2384

Optional remarks of the depositor

2385

Registre de Commerce et des Sociétés Numéro RCS : B59154 Référence de dépôt : L170032637

Déposé le 28/02/2017

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY Société Anonyme

Notes to the annual accounts for the financial year ended December 31, 2016

1 General Information

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY. ("the Company") was incorporated on December 7, 1973 in Switzerland and transferred to Luxembourg on May 12, 1997 and is organised under the laws of Luxembourg as a « Société Anonyme » for an unlimited period.

The registered office of the Company is at 6, Rue Eugène Ruppert, L-2453 Luxembourg,

The Company's financial year starts on 01.01 and ends on 31.12 of each year.

The main activity of the company is the acquisition, the management and the disposal of participations in whichever form in domestic and foreign company may also contract ioans and grant all kinds of support, loans, and guarantees to companies, in which it has a direct or indirect participation or which are members of the same group.

The Company is included in the consolidated accounts of Recordati Industria Chimica e Farmaceutica S.p.A. (hereinafter called "Recordati S.p.A.") registered in Via Matteo Civitali 1, 20148 Milano, Italy. The consolidated financial statements are available there.

2 Summary of significant accounting policies

2.1 Basis of presentation

The annual accounts have been prepared in accordance with Luxembourg legal and regulatory requirements under the historical cost convention.

Accounting policies and valuation rules are, besides the ones laid down by the amended Law of December 19, 2002, determined and applied by the Board of Directors.

The preparation of annual accounts requires the use of certain critical accounting estimates. It also requires the Board of Directors to exercise its judgement in the process of applying the accounting policies. Changes in assumptions may have a significant impact on the annual accounts in the period in which the assumptions changed. Management believes that the underlying assumptions are appropriate and that the annual accounts therefore present the financial position and its results fairly.

The books and records are maintained in Euro and the annual accounts have been prepared in accordance with the valuation rules and accounting policies described below.

Notes to the annual accounts for the financial year ended December 31, 2016

2.2 Accounting policies and valuation rules

2.2.1 Foreign currency translation

Transactions expressed in currencies other than Euro are translated into Euro at the exchange rate effective at the time of the transaction.

Formation expenses and long-term assets expressed in currencies other than Euro are translated into Euro at the exchange rate effective at the time of the transaction. At the balance sheet date, these assets remain translated at historical exchange rates.

Cash at bank is translated at the exchange rate effective at the balance sheet date. Exchange losses and gains are recorded in the profit and loss account of the financial year.

Other assets and all liabilities are valued individually at the lower and the higher respectively, of their value at the historical exchange rate or their value determined at the exchange rates prevailing at the balance sheet date. Realised exchange gains and losses are recorded in the profit and loss account at the moment of their realisation. Only unrealised exchange losses are recorded in the profit and loss account.

Where there is an economic link between an asset and a liability, these are valued in total according to the method described above and the net unrealised losses are recorded in the profit and loss account and the net unrealised exchange gains are not recognised.

2.2.2 Formation expenses

Formation expenses are amortised on a straight-line basis over a period of 5 years,

223 Financial assets

Financial assets are valued in the accounts at purchase price/nominal value (loans and claims) including the expenses incidental thereto.

In case the Board of Directors deems that there is a durable depreciation in value of the financial assets, value adjustments are booked, so that they are valued at the lower figure to them at the balance sheet date. These value adjustments are not continued if the reasons for which the value adjustments were made have ceased to apply.

22-4 Debtors

Debtors are valued at their nominal value. They are subject to value adjustments where their recovery is doubtful. These value adjustments are not continued if the reasons for which the value adjustments were made have ceased to apply.

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY Société Anonyme

Notes to the annual accounts for the financial year ended December 31, 2016

2.2.5 Provisions

Provisions are intended to cover losses or debts, the nature of which is clearly defined and which, at the date of balance sheet, are either likely to be incurred or certain to be incurred but uncertain as to the amount or the date on which these will arise.

Provisions may also be created to cover charges which originate in the financial year under review or in a previous financial year, the nature of which is clearly defined and which at the date of the balance sheet are either likely to be incurred or certain to be incurred but uncertain as to the amount or the date on which these will arise.

Current tax provisions

Provisions for taxation corresponding to the tax liability estimated by the Company for the financial years are recorded under the caption for taxation. The advance payments are shown in the assets of the balance sheet under the "Other debtors" item.

2.2.6 Creditors

Creditors are recorded at their reimbursement value. Where the amount repayable on account is greater than the amount received, the difference is shown as an asset and is written off over the period of the debt based on a linear method.

for the financial year ended December 31, 2016 Notes to the annual accounts

Financial assets en

The movements for the financial year are as follows:

	Affiliated undertakings		Participating interests		Investments held as fixed assets	Other Loans	Total
	Shares	Loans	Shares	Loans
	EUR	EUR	UR UU	UR	EUR	EUR	EUR
Gross book value - opening balance	56 278,366,973		ל 76,894,230.7	18	8,621,192.67		363,882,396.97
Additions for the financial year				- 14
Disposals for the financial year)
Transfers for the financial year				10
Gross book value - closing balance	278,366,973.56	-	894,230.74 76,		8,621,192.67		363,882,396.97
(Accumulated value adjustments - opening balance	500,000.00 (5.		1,506,200.78)		(3,365,218.58		(10,371,419,36)
( Additions for the financial year)		11		I	3,326.46		(3,326.46)
Reversals for the financial year			8 1 1,506,200		17,423.59		1,523,624.37
Transfers for the financial year						81
ರಿ (Accumulated value adjustments - closing balanc	(5,500,000.00)				(3,351,121.45)		(8,851,121.45)
Net book value - opening balance	272,866,973.56	I	75,388,029.96	P	5,255,974.09	I	353,510,977.61
Net book value - closing balance	272,866,973.56		76,894,230.74	ll	5,270,071.22		355,031,275.52

Notes to the annual accounts for the financial year ended December 31, 2016

3 Financial assets (Continued)

Undertakings in which the Company holds at least 20% of the share capital or in which it is a general partner are as follows:

Name of	Registered	Ownership	Last ba ance	Net equity at the balance	Profit or loss ior the last
undertaking	office	0/0	sheet date	sheet date of the	financial
(legal form)				company	year
Recordati Rare Diseases Comércio de Medicamentos Ltda	Atibaia-SP, Rodovia Dom Pedro I, Km. 88 Unid. 27B ed. Wagner, Condominio Empresarial Barao de Maua Bairro Ponte Alta, CEP 12952-821, Brazi	99 3976%	31/12/2015	1,274,745 BRL	388,048 BRI
Recordati Rare Diseases Inc.	Prentice - Hall Corporation System, Inc., 2711 CentervilleRoad, Suite 400, Wilmington, New Castle, USA	100.00%	31/12/2015	74,942,000 USD	24,131,000 lisb
Recordati Ireland Ltd	Raheens East, Ringaskiddy County Cork. reland	100.00%	31/12/2015	123,717,191 EUR	51,800,312 EUR
Recordati S.A.	Piazza Boffalora 4 6830 Chiasso, Switzerland	100.00%	31/12/2015	2,203,755 CHF	48,872 CHF
Recordati Pharmaceuticals Limited	200 Broke Drive, Green Park, Reading, Berkshire RG2 6UB. UK	96.67%	31/12/2015	15,572,304 GBP	495,199 GBP
Recordati Hellas Pharmaceuticals S.A.	7 Zoodochou Pigis Street 15231 K. Chalandri, Athens, Greece	99.05%	31/12/2015	5,012,119 EUR	(31,930) EUR

Notes to the annual accounts for the financial year ended December 31, 2016

3 Financial assets (Continued)

Recordati Orphan Drugs SAS	Immeuble Le Wilson, 70 avenue Charles de Gaulle - Puteaux 92800 Paris La Defence, France	90.00%	31/12/2015	88,536,539 EUR	8,722,516 EUR
Herbacos Recordati s.r.o.	Strossova 239 PSC 53003 Pardubice, Czech Republic	99.921875 0%	31/12/2015	241,635,000 CZK	44,107,000 07 K
Recordati Romania S.r.l.	Sir. Stelutei Nr 28A, Sector 1 Bucharest. Romania	100.00%	31/12/2015	6,574,847 RON	1,421,755 RON
Recordati Pharma GmbH	Eberhard-Finckh Strasse 55 89075 Ulm, Germany	55.00%	31/12/2015	125,255,832 EUR	15,406,619 EUR
Accent Ltd.	12 Krasnopresnenskaya Naberegnaya, 123610 Moscow. Russian Fed.	100.00%	31/12/2015	20,548,000 RUB	1,692,000 RUB
Opalia Pharma S.A.	Zone Industrielle Kalaat El Andalous Zone Industrielle Kalaat El Andalous Tunisia	90.00%	31/12/2015	20.084.846 IIND	4,801,923 TND
Casen Recordati S.L.	Autovia de Logrono, KM. 13, 300 Utebo, Zaragoza, Spain	31.553%	31/12/2015	317,382,817 EUR	20,610,363 EUR
Recordati Rare Diseases, S.A. De C.V.	Avenida Ejercito Nacional 418-307 Colonia Chapultepec Morales, C.P. 11570, Mexico City, Mexico	99 99 39%	31/12/2015	(1,508,812 MXN)	(1,558,812 MXN)

During the year, the value adjustments of Casen Recordati S.L. has been canceled for an amount of EUR 1,506,200.78.

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY Société Anonyme

Notes to the annual accounts for the financial year ended December 31, 2016

3 Financial assets (Continued)

The amount of EUR 5,270,071.22 representing securities held as fixed assets is broken down as follows:

Name of securities	Country	Ownership 9/0	Ownership	Value adjustement	Total 2016
(legal form)			EUR		EUR
Digital Gene Technologies Inc	USA	n.c	3.329.226.32	(3.329.225.32)	1.00
Pure Tech Health P.L.C.	United Kingdom	4.025%	5,224,147.10		5,224,147.10
Codexis Inc	USA	5,203 shares	41,275.11	(18,569.67)	22,705.44
Fluidigm	USA	1.019 shares	10,364.05	(3,326.46)	7,037.59
Recordati Portuguesa Produtos Quimicos e Farmaceuticos Lda	Portugal	2.00%	54.10		534,10
Bouchara Recordati S.A.S	France	0.06%	15.635.99		15.635.99
Recordati Ukraine Limited Liability Company	Ukraine	0.01%	10.00		10.00

During the year, the value adjustments of Codexis Inv has been reduced for an amount of EUR 17,423.59 and the value adjustments of Fluidigim has been increased for an amount of EUR 3,326.46.

Notes to the annual accounts for the financial year ended December 31, 2016

বী Debtors

Debtors are mainly composed of :

	Within one year	After more than one year	Tota	Tota
	EUR	EUR	2016 EUR	2015 EUR
Amounts owed by affiliated undertakings Other debtors	2.699.323.25 10,555,072.13		2.699.323.25 10,555,672.13	5,231,868.72 10,572,620.90
Total	13,254,995.38	l	13,254,995.38	15,804,489.62

The amount owed by affiliated undertakings becoming due and payable within one year amounting to EUR 2,699,323.25 is composed as follows:

• · A short-term interest loan granted to Recordati Romania S.r.). for a total amount of RON 4,000,000.00 / EUR 881,251.38 (2015: RON 5,000,000.00 / EUR 1,105,216.62) bearing interests based on NBR reference rate as well as the related accrued and not received interests amounting to RON 51,502.22 / EUR 11,346.60 (2015: RON 40,919.41 / EUR 9,044.96),
• · Bonds to Opalia Pharma S.A. for a total amount of TND 4,000,000.00 / EUR 1,632,726.37 (2015: TND 4,000,000.00 / EUR 1,809,971.13) bearing interest at 8% until March 10, 2016 and then reduced to 6.5% as well as the related accrued and not received interests amounting to TND 428,675.80 / EUR 173,998.90 (2015: TND 160,000.00 / EUR 72,933.65).

The total interests income of the year related to both loans granted to Recordati Romania S.r.l. amounts to RON 115,365.14 / EUR 25,812.11 (2015: EUR 21,332.84 / RON 94,802.98). The total interests income of the year related to bonds Opalia Pharma S.A. amount to TND 268,675.80 / EUR 109,668.52 (2015: TND 320,000.00 / EUR 147,303.25).

On December 12, 2016, the short-term interest loan granted to Recordati Romania S.r.I. for a total amount of RON 1,000,000.00 has been fully reimbursed.

Notes to the annual accounts for the financial year ended December 31, 2016

4 Debtors (Continued)

The other receivable becoming due and payable within one year amounting to EUR 10,555,672.13 is composed of the following amounts owed by shareholders, advances paid to the Administration des Contributions Directes Luxembourg ("ACD") and other miscellaneous receivables:

	Within	Total	Total
	one year
		2016	2015
	EUR	EUR	EUR
Amounts owed by shareholders:	10,321,606.58	10,321,606.58	10,407 718.00
Accrued interests Cash Pooling Recordati S.p.A			36.779.25
Accrued interests Guaranteed Senior Notes, Series B	5,143,242.70	5,143,242.70	5,143,242.70
Accrued interests Guaranteed Senior Notes, Series D	1.102.863.88	1.102.863.88	1,152,196.05
Accrued interests Guaranteed Senior Notes, Series C	4,075,500.00	4,075,500.00	4,075,500.00
Advances paid to the direct tax authorities:	231,081.75	231,081.75	161,867,80
Advance for CIT 2014	1,575.00	1,575.00	1,575.00
Advance for CIT 2015	1,968.75	1,968.75	1,968.75
Advance for CIT 2016 and NWT 2016	76,878.00	76,878.00
Advance for CIT (SGAM Al Kantara Co. II. S.à r.I.)			6,798.00
Advance for NWT 2014	75,330.00	75,330.00	75,330.00
Advance for NWT 2015	75,330.00	75,330.00	75,330.00
Advance for NWT (SGAM Al Kantara Co. II. S.à r.I.)			56.25
Overpayment (SGAM Al Kantara Co. II. S.à r.l.)			809.80
Other miscellaneaous receivables:	2.983.80	2.983.80	3.035.10
Total	10,555,672.13	10,555,672.13	10,572,620.90

Notes to the annual accounts for the financial year ended December 31, 2016

5 Capital and reserves

5.1 Movement in the net equity

	Opening balance	Movement for the financial year	Closing balance
	EUR	EUR	EUR
Subscribed capital	82,500,000.00		82,500,000.00
Share premium account	144,965,479,84		144,965,479.84
Revaluation reserve
Reserves	8,287,500.00		8,287,500.00
Profit or loss brought forward	4,213,473.97	(4,154,285.97)	59,188.00
Profit or loss for the financial year	48,845,714.03	(37,259,179.97)	11,586,534.06
Interim dividends
Capital Investments subsidies
Tota	288,812,167.84	(41,413,465.94)	247,398,701.90

5.2 Subscribed capital

The subscribed capital amounts to EUR 82,500,000.00 and is divided into 82,500,000 shares fully paid-up with a nominal value per unit of EUR 1.00.

Legal reserve 5.3

The Company is required to allocate a minimum of 5% of its annual net income to a legal reserve, until this reserve equals 10% of the subscribed share capital. This reserve may not be distributed. The legal reserve of the Company amounts to EUR 8,250,000.00 and has therefore reached the authorized limit.

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY
	Societe Anonvme

for the financial year ended December 31, 2016 Notes to the annual accounts

5.4 Movements in the reserves and profit or loss items

Movements in the reserves and profit or loss items during the financial year are as follows:

	Lega	Reserve	Reserve	Other	Profit or	Profit or	Interim
	teselve	for own Units Shares/	for by the Articles of Association provided	reserves	loss brought forward	loss for the period year financial	dividends
	=UR	EUR	EUR	EUR	EUR	EUR	EUR
Opening balance	8,250,000.00		D	37,500.00		4,213,473.97 48,845,714.03
Movements for
the financial year
Allocation of previous
year's profit or loss						48,845,714.03 (48,845,714.03)	ੇ।
Dividend					53,000,000.00)		-
Profit or loss for
the financial year	l		. .	11		11,586,534.06	10
Other movements -
Closing balance	8,250,000.00			37,500.00	59,188.00	11,586,534.06

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY Société Anonyme

Notes to the annual accounts for the financial year ended December 31, 2016

5.4 Movements in the reserves and profit or loss items (Continued)

The payment of a dividend was decided during the Board of Director's held on March 3, 2016, on the basis of the allocation of 2015 results.

ে Provisions for taxation

Provision for taxation is composed of:

• a provision for Net Wealth tax 2014 for an amount of EUR 21,345.00,
• a provision for Net Wealth tax 2015 for an amount of EUR 12,170.00,
• a provision for Net Wealth tax 2016 for an amount of EUR 3,210.00,
• a provision for Corporate Income tax 2014 for an amount of EUR 3,210.00,
• a provision for Corporate Income tax 2015 for an amount of EUR 3,210.00,

7 Other provisions

Others provision is composed of:

• a provision for Comcolux S.à.r.l (Audit fees) for an amount of EUR 3,627.00,
• a provision for KPMG (Luxembourg) S.à.r.l (tax fees) 2015 for an amount of EUR 5,161.20,
• -
• a provision for tax audit fees in Italy for an amount of 20,000.00
• a provision for Intertrust fees 2016 for an amount of EUR 3,040.83.

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY
	Societe Anonvme

for the financial year ended December 31, 2016 Notes to the annual accounts

Creditors യ

Amounts due and payable for the amounts shown under "Creditors" are as follows:

	Within		After one After more	Tota	l ota
	one year	within live vear and	than five years
		years		2016	2015
	EUR	EUR	EUR	EUR	EUR
Convertible loans
Non convertible loans
Amounts owed to credit institutions	42			.42
Payments received on account of orders
Trade creditors	9,973.			9,973.1	65,208.56
Bills of exchange payable
Amounts owed to affiliated undertakings
Amounts owed to undertakings with
which the undertaking is linked by virtue of participating interests
Other creditors	120,887,788.29			120,887,788.29	81,022,497.09
Total	120,897,878.83			120,897,878.83	81,087,705.65

Notes to the annual accounts for the financial year ended December 31, 2016

8 Creditors (Continued)

The other creditors within one year amounting to EUR 120,887,788.29 (2015: EUR 81,022,497.09) are mainly composed of amounts due to the shareholder and are broken down as follows:

• EUR 21,000,000.00 (2015: EUR 21,000,000.00) as a short-term interest loan granted by Recordati S.p.A. to the Company bearing interests at rate Euribor 1 month (basis 360 days) plus a spread of 2.50% as well as the related accrued and payable interests for the amount of EUR 14,462.30 (2015: EUR 1,892.92).

• EUR 50,000,000.00 (2015: EUR 50,000,000.00) as a short-term interest loan granted by Orphan Europe S.a.r.l. to the Company bearing interests at rate Euribor 1 month (basis 360 days) plus a spread of 0.50% as well as the related accrued and payable interests for the amount of EUR 7,905.56 (2015: EUR 18,902.78).

• EUR 49,173,735.36 (2015: EUR 9,346,999.83) as a short term loan due to cash pooling with Recordati S.p.A. bearing interests at rate Euribor 1 month (365 days) + spread 1%.

• EUR 654,701.56 (2015: EUR 654,701.56) as other miscellaneous debt represents interests on holdback payable for the acquisition of Opalia Pharma S.A.,

9 Staff

The Company had no employees during the financial year.

10 Emoluments granted to the members of the management and supervisory bodies and commitments in respect of retirement pensions for former members of these bodies

During the financial year, no emoluments or obligations arising or entered into in respect of retirement pensions for former members of those bodies for the financial year were granted.

11 Advances and loans granted to the members of the management and supervisory bodies

During the financial year, no loances were granted to members of the Board of Directors or other administrative bodies.

Notes to the annual accounts

for the financial year ended December 31, 2016 -

12 Raw materials and consumables and other external expenses

The other external expenses are presented as follows:

	2016	2015
	EUR	EUR
Audit fees	3,627.00	3,679.58
Tax advisory fees	15,161.20	49,705.43
Accounting services	20,823.09	6,755.00
Domiciliary fees	899 44	1.274.21
Management services	5,202.40	87.787.90
Management fees	3,597.75	5,096.81
Corporate secretarial fees	3,029.72	972,27
Administration services	30,380.51	4,210.84
Disbursement fees	3,970.88	5,105.39
Other fees	1,472.51	6,665.05
Travel fees	467.73	740.06
Chamber of subscription	7.174.75	140.00
Bank fees	4,098.94	5,341.85
Fees for securities	58.48	12,250.62
Legal fees	3,758.91	24,636.63
Tota	103,723.41	214,361,64

Notes to the annual accounts for the financial year ended December 31, 2016

13 Tax expenses

The tax expenses of the Company for the financial year are detailed as follows:

	2016	2015
	EUR	EUR
Tax expenses for the financial year	3.210.00	3,210.00
Adjustment on tax expenses for the previous years		(18,190.00)
Tax on profit or loss	3,210.00	(14,980.00)
Other tax expenses for the financial year		12,170.00
Tax penalties	47.00	81.60
Adjustment on other tax expenses for SGAM Al Kantara Co. II. S.à.r.l	4.405.25	13,055.00
Foreign taxes		16,506.20
Other taxes	4,452.25	41,812.80

14 Other operating expenses

The other operating expenses are presented as follows:

	2016	2015
	EUR	EUR
Patents, trademark fees Loss in relation to the merge of SGMAN AI Kantara Co.II. S.à.r.l.	2.995.39	6,850.33 9,498,548.21
Tota	2,995.39	9,505,398.54

15 Income from participating interests

The income from participating interests are presented as follows:

	2016	2015
	EUR	EUR
Dividends from affiliated undertakings	10,454,950.19	59,266,538,91
Total	10,454,950.19	59,266,538.91

Notes to the annual accounts for the financial year ended December 31, 2016

16 Income from other investments and loans forming part of the fixed assets

The income from other investments and loans are presented as follows:

	2016	2015
	EUR	EUR
Interests on loan to affiliated undertakings (see note 4) Interests on bonds affiliated undertakings	26,826.01 109,668.52	89,576.77 147,303.25
	136,494.53	236,880.02
Reversals of value adjustments	1.523,624.37
Total	1,660,118.90	236,880.02

17 Other interest receivable and similar income

The other interest receivable and similar income are presented as follows:

	2016	2015
	EUR	EUR
Realized exchange gains	8,337.84	49,500.25
Interests on bank accounts	-	11,882.67
Interests on loans (see note 4)	1	36,779.25
Tota	8,337.84	98,162.17

18 Interest payable and similar expenses

The other interest receivable and similar income are presented as follows:

	2016	2015
	EUR	EUR
Foreign exchange losses Interests on bank accounts Interests on loans (see note 8)	270.396.59 0.01 148,768.76	270.934.20 0.07 739,382.04
Tota	419,165.36	1,010,316.25

RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY Société Anonyme

Notes to the annual accounts for the financial year ended December 31, 2016

19 Subsequent events

No material event occurred after the balance sheet date ending December 31, 2016.

To the Shareholders of RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY 6, rue Eugene Ruppert L - 2453 Luxembourg

REPORT OF THE "COMMISSAIRE"

We are pleased to inform you that we have carried out our supervisory audit of RECORDATI S.A. CHEMICAL AND PHARMACEUTICAL COMPANY for the year ended December 31, 2016. These annual accounts are the responsibility of the Board of Directors.

We have examined the Balance Sheet of your company as at December 31, 2016 reporting a total of EUR 368.376.715,96 as well as the Profit and Loss account for the year ended December 31, 2016, reporting a profit of EUR 11.586.534,06.

We have carried out our mandate on the basis of Article 62 of the amended Law of August 10, 1915 and have noted that the annual accounts as at December 31, 2016 are in accordance with the accounting records and related documents which have been submitted to us.

Therefore we recommend the acceptance of the above mentioned accounts as at December 31, 2016 and the discharge to the members of the Board of Directors with respect to their mandates.

Luxembourg, February 27 2017

Comcolux S.à r.1. Commissaire

Manager

Comcolux S.à r.I. 19, rue Eugène Ruppert, L -- 2453 Luxembourg E-Mail : sylvie.abtalcola@comcolux.lu - Tel : +352 221 8881 RCS Luxembourg B 58 545 Capital Social EUR 30.975

Appendix to the annual accounts for the period ended as at 31 December 2016

Recordati S.A. Chemical and Pharmaceutical Company Société Anonyme 6, rue Eugène Ruppert L-2453 Luxembourg

Result for the financial period ended 31 December 2016:

EUR 11.586.534,06

Allocation of the result for the financial period ended 31 December 2016:

Profit carried forward to next year:

EUR 11.586.534,06

Luxembourg, 28.02.2017

Mandataire

.