Ontex Group NV — Annual Report 2016

Apr 24, 2017

40				1	EUR
NAT.	Filing date	Nr.	P.	U.	D.

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

IDENTIFICATION DETAILS

ONTEX GROUP NAME:
Public limited company Legal form:
Korte Keppestraat Address: Nr.: Box:		21
9320 Postal code:	Erembodegem Municipality:
Belgium Country:
Register of legal persons – commercial court	Gent, Division Dendermonde
Website address1	:
	Company identification number	BE 0550.880.915
02 06 2016 DATE / / the date of publication of the memorandum of association and of the act amending the articles of association.	of filing the memorandum of association OR of the most recent document mentioning
ANNUAL ACCOUNTS IN EUROS ANNUAL ACCOUNTS	approved by the general meeting of	24 05 2017 / /
Regarding the financial year from	01 01 2016 / / to	31 12 2016 / /
Preceding financial year from	01 01 2015 / / to	31 12 2015 / /
The amounts for the preceding period are / are not2 XXXXX	identical to the ones previously published.
63 Total number of pages filed: purpose:	Numbers of sections of the standard form not filed because they serve no useful

Signature (name and position)

Signature (name and position)

¹ Optional information.

² Strike out what is not applicable.

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and municipality) and position within the company

Revalue BVBA Nr.: BE 0839.566.573 Slijkstraat 67, 3212 Pellenberg, Belgium

Represented by:

Luc Missorten (Representative) Slijkstraat 67, 3212 Pellenberg, Belgium

Charles David Bouaziz avenue Wolvendael 65, 1180 Uccle, Belgium

Cepholli bvba Nr.: BE 0538.753.143 Winston Churchillaan 49 box B5, 1180 Uccle, Belgium

Represented by:

Jacques Purnode (Representative) Winston Churchillaan 49 box B5, 1180 Uccle, Belgium

Artipa Bvba Nr.: BE 0887.645.416 Jean Van Gijsellaan 75, 1780 Wemmel, Belgium

Represented by:

Thierry Navarre (Representative) Jean Van Gijsellaan 75, 1780 Wemmel, Belgium

Inge Boets BVBA Nr.: BE 0458.838.011 Onderheide 28, 2930 Brasschaat, Belgium

Represented by:

Inge Boets (Representative) Onderheide 28, 2930 Brasschaat, Belgium

Tegacon AS Sonja Henies vei 1, 1394 Nesbru, Norway

Represented by:

Gunnar Johansson (Representative) Sonja Henies vei 1, 1394 Nesbru, Norway Chairman of the board of directors 10/04/2015 - 25/05/2018

Director 24/04/2014 - 25/05/2018

Director 24/04/2014 - 25/05/2018

Director 24/04/2014 - 25/05/2018

Director 02/06/2014 - 25/05/2018

Director 01/10/2014 - 25/05/2018

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS (CONTINUED)

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and municipality) and position within the company

Uwe Krüger Pfannenstilstrasse 9, 8835 Feusisberg, Switzerland

Juan Gilberto Marin Quintero Cda. Buena Vista 17-4, 72154 Puebla, Mexico

Bcvba PricewaterhouseCoopers Bedrijfsrevisoren Nr.: BE 0429.501.944 Woluwegarden Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium Membership nr.: B00009

Represented by:

Peter Opsomer (Auditor) Rattepoelstraat 7, 9680 Maarkedal, Belgium Membership nr.: B00748

Director 02/06/2014 - 25/05/2018

Director 25/05/2016 - 25/05/2020

Auditor 24/04/2014 - 25/05/2017

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that no audit or correction assignment has been given to a person who was not authorised to do so by law, pursuant to art. 34 and 37 of the law of 22th April 1999 concerning accounting and tax professions.

The annual accounts were / were not^∗ audited or corrected by an external accountant or by a company auditor who is not the statutory auditor. XXX

If affirmative, mention hereafter: surname, first names, profession and address of each external accountant or company auditor and his membership number with his Institute as well as the nature of his assignment:

• A. Bookkeeping of the enterprise ∗∗,
• B. Preparing the annual accounts ∗∗,
• C. Auditing the annual accounts and/or
• D. Correcting the annual accounts.

If the tasks mentioned under A. or B. are executed by certified accountants or certified bookkeepers - tax specialists, you can mention hereafter: surname, first names, profession and address of each certified accountant or certified bookkeeper - tax specialist and his/her affiliation number with the Institute of Accounting Professional and Tax Experts and the nature of his/her assignment.

Surname, first names, profession and address	Affiliation number	Nature of the assignment (A, B, C and/or D)

^∗ Strike out what is not applicable.

^∗∗ Optional information.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20	3.772.230	3.719.316
FIXED ASSETS		21/28	2.864.194.156	2.646.952.038
Intangible fixed assets	6.2	21	98.985.846	122.397.515
Tangible fixed assets	6.3	22/27	1.571.373	4.297.318
Land and buildings		22	1.202	1.363
Plant, machinery and equipment		23	1.517.316	1.065.968
Furniture and vehicles		24
Leasing and similar rights		25
Other tangible fixed assets		26
Assets under construction and advance payments		27	52.855	3.229.987
Financial fixed assets 6.4/6.5.1		28	2.763.636.937	2.520.257.205
Affiliated enterprises	6.15	280/1	2.763.486.040	2.520.112.918
Participating interests		280	1.907.965.289	1.907.965.289
Amounts receivable		281	855.520.751	612.147.629
Other enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	150.897	144.287
Shares		284
Amounts receivable and cash guarantees		285/8	150.897	144.287

	Discl. Codes	Period	Preceding period
CURRENT ASSETS	29/58	284.471.271	301.948.238
Amounts receivable after more than one year	29	.	.
Trade debtors	290	.	.
Other amounts receivable	291	.	.
Stocks and contracts in progress	3	.	.
Stocks	30/36	.	.
Raw materials and consumables	30/31	.	.
Work in progress	32	.
Finished goods	33	.	.
Goods purchased for resale	34	.	.
Immovable property intended for sale	35	.	.
Advance payments	36	.	.
Contracts in progress	37	.	.
Amounts receivable within one year	40/41	94.282.905	88.412.625
Trade debtors	40	79.676.108	73.475.777
Other amounts receivable	41	14.606.797	14.936.848
Current investments	50/53	22.335.195	13.108.539
Own shares	50	22.335.195	13.108.539
Other investments	51/53
Cash at bank and in hand	54/58	162.492.335	194.432.981
Deferred charges and accrued income	6.6 490/1	5.360.836	5.994.093
TOTAL ASSETS	20/58	3.152.437.657	2.952.619.592

Nr.

BE 0550.880.915

$F3.1$

Codes Discl. EQUITY AND LIABILITIES EQUITY 10/15 10 Capital 100 Issued capital 101 Uncalled capital	Period 1.856.968.694 748.715.886 748.715.886 .	Preceding period 1.832.595.271 721.489.865 721.489.865
11 Share premium account	266.773.477	218.321.754
12 Revaluation surpluses	.	.
13 Reserves	359.167.744	395.232.058
130 Legal reserve	29.490.184	29.490.184
131 Reserves not available	22.335.195	13.108.539
1310 In respect of own shares held	22.335.195	13.108.539
1311 Other
132 Untaxed reserves	.
133 Available reserves	307.342.365	352.633.335
14 Accumulated profits (losses)	482.311.587	497.551.594
15 Investment grants		.
19 Advance to associates on the sharing out of the assets	.	.
16 PROVISIONS AND DEFERRED TAXES	6.958.159	5.081.435
160/5 Provisions for liabilities and charges	6.958.159	5.081.435
160 Pensions and similar obligations	.	.
161 Taxation	.	.
162 Major repairs and maintenance	.	.
163 Environmental obligations	.	.
6.8 164/5 Other liabilities and charges	6.958.159	5.081.435
168 Deferred taxes		.

Nr.

BE 0550.880.915

$F3.2$

Nr. BE 0550.880.915				F 3.2
	Discl.	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	1.288.510.804	1.114.942.886
Amounts payable after more than one year Financial debts Subordinated loans Unsubordinated debentures Leasing and other similar obligations Credit institutions Other loans Trade debts Suppliers Bills of exchange payable Advances received on contracts in progress Other amounts payable	6.9	17 170/4 170 171 172 173 174 175 1750 1751 176 178/9	834.171.545 834.171.545 250.000.000 527.335.195 56.836.350	725.289.702 725.289.702 250.000.000 393.108.540 82.181.162
Amounts payable within one year Current portion of amounts payable after more than one year falling due within one year Financial debts Credit institutions Other loans Trade debts Suppliers Bills of exchange payable Advances received on contracts in progress Taxes, remuneration and social security Taxes	6.9	42/48 42 43 430/8 439 44 440/4 441 46 45 450/3	451.883.926 150.435.348 150.435.348 5.239.347 5.239.347 4.621.867 690.147	386.260.142 152.755.107 152.755.107 4.221.091 4.221.091 5.092.181 2.518.752
Remuneration and social security Other amounts payable		454/9 47/48	3.931.720 291.587.364	2.573.429 224.191.763
Accruals and deferred income TOTAL LIABILITIES	6.9	492/3 10/49	2.455.333 3.152.437.657	3.393.042 2.952.619.592

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income Turnover	6.10	70/76A 70	30.649.618	17.532.316
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-) Own work capitalised		71 72
Other operating income Non-Recurring Operating Income	6.10 6.12	74 76A	30.649.618	17.532.316
Operating charges Raw materials, consumables		60/66A 60	61.204.968	52.513.526
Purchases		600/8
(+)/(-) Stocks: decrease (increase)		609	16.954.011	11.164.299
Services and other goods Remuneration, social security costs and pensions (+)/(-) Depreciation of and other amounts written off formation	6.10	61 62	9.571.258	6.422.607
expenses, intangible and tangible fixed assets Amounts written off stocks, contracts in progress and trade		630	32.550.249	31.734.444
debtors: Appropriations (write-backs) (+)/(-) Provisions for liabilities and charges: Appropriations (uses	6.10	631/4
(+)/(-) and write-backs)	6.10	635/8	1.876.724	2.269.551
Other operating charges	6.10	640/8	1.999	4.248
Operating charges carried to assets as restructuring costs(-)		649
Non-recurring operating charges	6.12	66A	250.727	918.377
Operating profit (loss) (+)/(-)		9901	-30.555.350	-34.981.210

Nr.	BE 0550.880.915		F 4
-----	-----------------	--	-----

	Discl.	Codes	Period	Preceding period
Financial income		75/76B	65.044.126	669.955.338
Recurring financial income		75	65.044.126	669.855.338
Income from financial fixed assets		750	20.222.753	627.371.384
Income from current assets		751	29.046.940	25.079.312
Other financial income	6.11	752/9	15.774.433	17.404.642
Non-recurring financial income	6.12	76B		100.000
Financial charges		65/66B	39.711.890	44.981.987
Recurring financial charges	6.11	65	39.688.815	44.875.350
Debt charges		650	25.179.152	26.150.480
Amounts written off current assets except stocks, contracts
in progress and trade debtors: appropriations (write-backs) .		651
Other financial charges		652/9	14.509.663	18.724.870
Non-recurring financial charges		66B	23.075	106.637
Gain (loss) for the period before taxes (+)/(-)		9903	-5.223.114	589.992.141
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	790.237	188.468
Taxes		670/3	790.334	324.585
Adjustment of income taxes and write-back of tax provisions		77	97	136.117
(+)/(-) Gain (loss) of the period		9904	-6.013.351	589.803.673
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	-6.013.351	589.803.673

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated	9906	491.538.243	540.150.317
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	$-6.013.351$	589.803.673
Accumulated profits (losses)	14P	497.551.594	-49.653.356
Withdrawals from capital and reserves	791/2	45.290.970	34.466.665
from capital and share premium account	791
$from \, \, \text{reserves} \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ld$	792	45.290.970	34.466.665
Transfer to capital and reserves	691/2	9.226.656	42.598.723
to capital and share premium account	691		.
to legal reserve	6920	.	29.490.184
to other reserves	6921	9.226.656	13.108.539
Accumulated profits (losses)	(14)	482.311.587	497.551.594
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	45.290.970	34.466.665
Dividends	694	45.290.970	34.466.665
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697

$F5$

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Preceding period
Formation expenses	20P	xxxxxxxxxxxxxxx	3.719.316
Movements during the period
New expenses incurred	8002	758.491
Depreciation	8003	705.577
Other (+)/(-)	8004
Net book value at the end of the period	(20)	3.772.230
Of which
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2	3.772.230
Restructuring costs	204

STATEMENT OF INTANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
DEVELOPMENT COSTS
Acquisition value at the end of the period	8051P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8021
Sales and disposals	8031
(+)/(-) Transfers from one heading to another	8041
Acquisition value at the end of the period	8051
Depreciations and amounts written down at the end of the period	8121P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8071
Written back	8081
Acquisitions from third parties	8091
Cancelled owing to sales and disposals	8101
(+)/(-) Transferred from one heading to another	8111
Depreciations and amounts written down at the end of the period	8121
NET BOOK VALUE AT THE END OF THE PERIOD	81311

	Codes	Period	Preceding period
RESEARCH COSTS THAT HAVE BEEN MADE DURING A PERIOD STARTING BEFORE 1 JANUARY 2016
Acquisition value at the end of the period	8055P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8025
Sales and disposals	8035
Transfers from one heading to another	8045
Acquisition value at the end of the period	8055
Depreciations and amounts written down at the end of the period	8125P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8075
Written back	8085
Acquisitions from third parties	8095
Cancelled owing to sales and disposals	8105
Transferred from one heading to another	8115
Depreciations and amounts written down at the end of the period	8125
NET BOOK VALUE AT THE END OF THE PERIOD	81312

Nr. BE 0550.880.915 F 6.2.2

	Codes	Period
RESEARCH COSTS THAT HAVE BEEN MADE DURING A PERIOD STARTING AFTER 31 DECEMBER 2015
Acquisition value at the end of the period	8056
Depreciations and amounts written down at the end of the period	8126
NET BOOK VALUE AT THE END OF THE PERIOD	81313

Nr. BE 0550.880.915			F 6.2.3
	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	7.939.072
Movements during the period
Acquisitions, including produced fixed assets	8022	5.076.605
Sales and disposals	8032
(+)/(-) Transfers from one heading to another	8042	3.256.374
Acquisition value at the end of the period	8052	16.272.051
Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	4.074.728
Movements during the period
Recorded	8072	2.310.660
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
(+)/(-) Transferred from one heading to another	8112
Depreciations and amounts written down at the end of the period	8122	6.385.388
NET BOOK VALUE AT THE END OF THE PERIOD	211	9.886.663

Nr.	BE 0550.880.915				F 6.2.4
			Codes	Period	Preceding period
GOODWILL
	Acquisition value at the end of the period		8053P	xxxxxxxxxxxxxxx	148.450.897
	Movements during the period
	Acquisitions, including produced fixed assets		8023	47.741
	Sales and disposals		8033
	Transfers from one heading to another	(+)/(-)	8043
	Acquisition value at the end of the period		8053	148.498.638
	Depreciations and amounts written down at the end of the period		8123P	xxxxxxxxxxxxxxx	29.917.726
	Movements during the period
	Recorded		8073	29.481.729
	Written back		8083
	Acquisitions from third parties		8093
	Cancelled owing to sales and disposals		8103
	Transferred from one heading to another	(+)/(-)	8113
	Depreciations and amounts written down at the end of the period		8123	59.399.455
	NET BOOK VALUE AT THE END OF THE PERIOD		212	89.099.183

Nr. BE 0550.880.915				F 6.2.5
		Codes	Period	Preceding period
ADVANCE PAYMENTS
Acquisition value at the end of the period		8054P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets		8024
Sales and disposals		8034
Transfers from one heading to another	(+)/(-)	8044
Acquisition value at the end of the period		8054
Depreciations and amounts written down at the end of the period		8124P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8074
Written back		8084
Acquisitions from third parties		8094
Cancelled owing to sales and disposals		8104
Transferred from one heading to another	(+)/(-)	8114
Depreciations and amounts written down at the end of the period		8124
NET BOOK VALUE AT THE END OF THE PERIOD		213

	Codes	Period	Preceding period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx	3.214
Movements during the period
Acquisitions, including produced fixed assets	8161
Sales and disposals	8171
(+)/(-) Transfers from one heading to another	8181
Acquisition value at the end of the period	8191	3.214
Revaluation surpluses at the end of the period	8251P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
(+)/(-) Transferred from one heading to another	8241
Revaluation surpluses at the end of the period	8251
Depreciations and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx	1.851
Movements during the period
Recorded	8271	161
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
(+)/(-) Transferred from one heading to another	8311
Depreciations and amounts written down at the end of the period	8321	2.012
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	1.202

Nr. BE 0550.880.915				F 6.3.2
		Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period		8192P	xxxxxxxxxxxxxxx	1.993.125
Movements during the period
Acquisitions, including produced fixed assets		8162	363.415
Sales and disposals		8172
Transfers from one heading to another	(+)/(-)	8182	575.350
Acquisition value at the end of the period		8192	2.931.890
Revaluation surpluses at the end of the period		8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8212
Acquisitions from third parties		8222
Cancelled		8232
Transferred from one heading to another	(+)/(-)	8242
Revaluation surpluses at the end of the period		8252
Depreciations and amounts written down at the end of the period		8322P	xxxxxxxxxxxxxxx	927.157
Movements during the period
Recorded		8272	487.417
Written back		8282
Acquisitions from third parties		8292
Cancelled owing to sales and disposals		8302
Transferred from one heading to another	(+)/(-)	8312
Depreciations and amounts written down at the end of the period		8322	1.414.574
NET BOOK VALUE AT THE END OF THE PERIOD		(23)	1.517.316

Nr. BE 0550.880.915				F 6.3.3
		Codes	Period	Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period		8193P	xxxxxxxxxxxxxxx	6.842
Movements during the period
Acquisitions, including produced fixed assets		8163
Sales and disposals		8173
Transfers from one heading to another	(+)/(-)	8183
Acquisition value at the end of the period		8193	6.842
Revaluation surpluses at the end of the period		8253P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8213
Acquisitions from third parties		8223
Cancelled		8233
Transferred from one heading to another	(+)/(-)	8243
Revaluation surpluses at the end of the period		8253
Depreciations and amounts written down at the end of the period		8323P	xxxxxxxxxxxxxxx	6.842
Movements during the period
Recorded		8273
Written back		8283
Acquisitions from third parties		8293
Cancelled owing to sales and disposals		8303
Transferred from one heading to another	(+)/(-)	8313
Depreciations and amounts written down at the end of the period		8323	6.842
NET BOOK VALUE AT THE END OF THE PERIOD		(24)

	Codes	Period	Preceding period
LEASING AND SIMILAR RIGHTS
Acquisition value at the end of the period	8194P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8164
Sales and disposals	8174
(+)/(-) Transfers from one heading to another	8184
Acquisition value at the end of the period	8194
Revaluation surpluses at the end of the period	8254P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8214
Acquisitions from third parties	8224
Cancelled	8234
(+)/(-) Transferred from one heading to another	8244
Revaluation surpluses at the end of the period	8254
Depreciations and amounts written down at the end of the period	8324P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8274
Written back	8284
Acquisitions from third parties	8294
Cancelled owing to sales and disposals	8304
(+)/(-) Transferred from one heading to another	8314
Depreciations and amounts written down at the end of the period	8324
NET BOOK VALUE AT THE END OF THE PERIOD	(25)
OF WHICH
Land and buildings	250
Plant, machinery and equipment	251
Furniture and vehicles	252

Nr. BE 0550.880.915 F 6.3.4

Nr. BE 0550.880.915			F 6.3.5
	Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	36.564
Movements during the period
Acquisitions, including produced fixed assets	8165
Sales and disposals	8175
Transfers from one heading to another	(+)/(-) 8185
Acquisition value at the end of the period	8195	36.564
Revaluation surpluses at the end of the period	8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another	(+)/(-) 8245
Revaluation surpluses at the end of the period	8255
Depreciations and amounts written down at the end of the period	8325P	xxxxxxxxxxxxxxx	36.564
Movements during the period
Recorded	8275
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another	(+)/(-) 8315
Depreciations and amounts written down at the end of the period	8325	36.564
NET BOOK VALUE AT THE END OF THE PERIOD	(26)

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	3.229.987
Movements during the period
Acquisitions, including produced fixed assets	8166	654.592
Sales and disposals	8176
(+)/(-) Transfers from one heading to another	8186	-3.831.724
Acquisition value at the end of the period	8196	52.855
Revaluation surpluses at the end of the period	8256P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
(+)/(-) Transferred from one heading to another	8246
Revaluation surpluses at the end of the period	8256
Depreciations and amounts written down at the end of the period	8326P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
(+)/(-) Transferred from one heading to another	8316
Depreciations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)	52.855

STATEMENT OF FINANCIAL FIXED ASSETS

AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES xxxxxxxxxxxxxxx 738.753.766 8391P Acquisition value at the end of the period Movements during the period Acquisitions 8361 Sales and disposals 8371 Transfers from one heading to another (+)/(-) 8381 738.753.766 8391 Acquisition value at the end of the period xxxxxxxxxxxxxxx 1.169.211.523 8451P Revaluation surpluses at the end of the period Movements during the period Recorded 8411 Acquisitions from third parties 8421 Cancelled 8431 Transferred from one heading to another (+)/(-) 8441 1.169.211.523 8451 Revaluation surpluses at the end of the period xxxxxxxxxxxxxxx 8521P Amounts written down at the end of the period Movements during the period Recorded 8471 Written back 8481 Acquisitions from third parties 8491 Cancelled owing to sales and disposals 8501 Transferred from one heading to another (+)/(-) 8511 8521 Amounts written down at the end of the period xxxxxxxxxxxxxxx 8551P Uncalled amounts at the end of the period 8541 (+)/(-) Movements during the period 8551 Uncalled amounts at the end of the period NET BOOK VALUE AT THE END OF THE PERIOD 1.907.965.289 (280) AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE xxxxxxxxxxxxxxx 612.147.629 NET BOOK VALUE AT THE END OF THE PERIOD 281P Movements during the period 358.697.255 Additions 8581 116.105.448 Repayments 8591 Amounts written down 8601 Amounts written back 8611 781.315 Exchange differences (+)/(-) 8621 (+)/(-) Other movements 8631 855.520.751 NET BOOK VALUE AT THE END OF THE PERIOD (281) ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF		Codes	Period	Preceding period
	THE PERIOD	8651

	Codes	Period	Preceding period
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions	8362
Sales and disposals	8372
(+)/(-) Transfers from one heading to another	8382
Acquisition value at the end of the period	8392
Revaluation surpluses at the end of the period	8452P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
(+)/(-) Transferred from one heading to another	8442
Revaluation surpluses at the end of the period	8452
Amounts written down at the end of the period	8522P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
(+)/(-) Transferred from one heading to another	8512
Amounts written down at the end of the period	8522
Uncalled amounts at the end of the period	8552P	xxxxxxxxxxxxxxx
(+)/(-) Movements during the period	8542
Uncalled amounts at the end of the period	8552
NET BOOK VALUE AT THE END OF THE PERIOD	(282)
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
Exchange differences (+)/(-)	8622
Other movements (+)/(-)	8632
NET BOOK VALUE AT THE END OF THE PERIOD	(283)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8652

Nr. BE 0550.880.915 F 6.4.2

Nr.	BE 0550.880.915		F 6.4.3
-----	-----------------	--	---------

		× I
--	--	--------

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions	8363
Sales and disposals	8373
(+)/(-) Transfers from one heading to another	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period	8413
Recorded	8423
Acquisitions from third parties
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx
(+)/(-) Movements during the period	8543
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)
OTHERS ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx	144.287
Movements during the period
Additions	8583	6.610
Repayments	8593
Amounts written down	8603
Amounts written back	8613
(+)/(-) Exchange differences	8623
(+)/(-) Other movements	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	150.897
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

List of the enterprises in which the enterprise holds a participating interest, (recorded in heading 280 and 282 of assets) and the other enterprises in which the enterprise holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10 % of the capital issued.

		Rights held			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	code	ncy (+) or (-) (in units)
Ontex bvba BE 0419.457.296 Private company with limited liability Genthof 5 9255 Buggenhout Belgium	Capital	shares371.481.132	99,99	0,0	31/12/2015	EUR	308.268.159	119.707.988

Nr.	BE 0550.880.915		F 6.5.2
-----	-----------------	--	---------

LIST OF ENTERPRISES FOR WHICH THE ENTERPRISE HAS UNLIMITED LIABILITY AS ASSOCIATE OR MEMBER

The annual accounts of each enterprise for which the enterprise has unlimited liability is added to the present statement and published jointly, unless reason for not complying with this requirement is mentioned in the second column using the appropriate code (as defined below: A, B, C or D).

The annual accounts of the indicated company:

• A. will be published by filing with the National Bank of Belgium by this enterprise;
• B. will actually be published by this enterprise in another member state of the EC pursuant to art. 3 of the directive 2009/101/EC;
• C. will be fully or proportionally consolidated in the consolidated annual statements of the enterprise which is prepared, audited and published pursuant to the Code of companies on the consolidated annual accounts of enterprises;
• D. relates to a partnership under civil law, a consortium or a silent partnership.

NAME, full address of the REGISTERED OFFICE, LEGAL FORM and for an enterprise governed by Belgian law, THE COMPANY IDENTIFICATION NUMBER	Possible code

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

	Codes	Period	Preceding period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares	51		.
Book value increased with the uncalled amount	8681
Uncalled amount	8682		.
Precious metals and artworks	8683
Fixed income securities	52		.
Fixed income securities issued by credit institutions	8684		.
Fixed term accounts with credit institutions With residual term or notice of withdrawal	53		.
up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not mentioned above	8689

DEFERRED CHARGES AND ACCRUED INCOME
Allocation of heading 490/1 of assets if the amount is significant
Accrued interests	5 101 052
	259 784
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

First - F2016 - 29 / 63

$F6.6$

BE 0550.880.915
-----------------

Preceding period

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

Statement of Capital
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		721.489.865
Issued capital at the end of the period	(100)	748.715.886
	Codes	Value		Number of shares
Changes during the period Capital increase of 29.02.2016		27.226.021		2.722.221
		.
.		.		.
		.		.
Structure of the capital
Different categories of shares
Shares without nominal value		748.715.886		74.861.108
		.
		.		.
.	8702
Registered shares Shares to bearer and/or dematerialized	8703	XXXXXXXXXXXXX XXXXXXXXXXXXX		74.861.108
	Codes	Uncalled amount		Capital called but not
				paid
Capital not paid
Uncalled capital	(101)	.		XXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXX		.
Shareholders having yet to pay up in full
		.		.
.				.
			Codes	Period
Own shares
Held by the company itself
Amount of capital held			8721	22.335.195
Corresponding number of shares			8722	802.791
Held by the subsidiaries
Amount of capital held			8731	.
Corresponding number of shares			8732	.
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans			8740	.
Amount of capital to be subscribed			8741	.
Corresponding maximum number of shares to be issued			8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights			8745	.
Amount of capital to be subscribed			8746	.
Corresponding maximum number of shares to be issued			8747	.

Authorized capital not issued ....................................

Codes

Period

8751

272.260.356

Nr. F 6.7.1 BE 0550.880.915
-----------------------------------

	Codes	Period
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

|--|

STRUCTURE OF SHAREHOLDINGS OF THE ENTERPRISE AT YEAR-END CLOSING DATE, AS IT APPEARS FROM THE STATEMENTS RECEIVED BY THE ENTERPRISE

See next page.

Shareholder	Number of shares	%
Groupe Bruxelles Lambert	11.239.897	15,01
BlackRock (and its affiliates)	4.058.234	5,42
Aviva Plc (and its affiliates)	3.384.626	4,97
Norges Bank	3.620.522	4,84
Janus Capital Management LLC	3.424.055	4,75
Allianz Global Investors GmbH	3.267.061	4,36
The Pamajugo Irrevocable Trust	2.722.221	3,64
AXA Investment Managers SA	2.053.236	3,02

* Based on information received up to December 31, 2016

* The percentages are based on the total number of shares at the time of declaration

. . Nr.	, פ -- וכי .

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Share based payments	6 958 159
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,	.

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	Codes	Period
BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL PERIOD TO MATURITY OF MORE THAN ONE YEAR, ACCORDING TO THEIR RESIDUAL TERM
Current portion of amounts payable after more than one year falling due within one year
Financial debts	8801	.
Subordinated loans	8811	.
Unsubordinated debentures	8821	.
Leasing and other similar obligations	8831	.
Credit institutions	8841	.
Other loans	8851
Trade debts ………………………………………………………………………………………………	8861
Suppliers	8871	.
Bills of exchange payable	8881	.
Advance payments received on contract in progress	8891
Other amounts payable	8901
Total current portion of amounts payable after more than one year falling due within one year	(42)	.
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	584.171.545
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842	527.335.195
Other loans	8852	56.836.350
Trade debts ………………………………………………………………………………………………	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892	.
Other amounts payable	8902
Total amounts payable with a remaining term of more than one but not more than five years	8912	584.171.545
Amounts payable with a remaining term of more than five years
Financial debts	8803	250.000.000
Subordinated loans	8813
Unsubordinated debentures	8823	250.000.000
Leasing and other similar obligations	8833
Credit institutions ………………………………………………………………………………………………	8843	.
Other loans	8853
Trade debts	8863	.
Suppliers	8873	.
Bills of exchange payable	8883	.
Advance payments received on contracts in progress	8893	.
Other amounts payable	8903	.
Total amounts payable with a remaining term of more than five years	8913	250.000.000

$F6.9$

Nr. BE 0550.880.915		F 6.9
	Codes	Period
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921	.
Subordinated loans ………………………………………………………………………………………………	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951	.
Credit institutions ………………………………………………………………………………………………	8961
Other loans	8971
Trade debts	8981	.
Suppliers	8991
Bills of exchange payable	9001
Advance payments received on contracts in progress	9011
Remuneration and social security	9021	.
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets
Financial debts	8922	834.171.545
Subordinated loans	8932
Unsubordinated debentures	8942	250.000.000
Leasing and similar obligations	8952
Credit institutions	8962	527.335.195
Other loans ………………………………………………………………………………………………	8972	56.836.350
Trade debts	8982
Suppliers	8992	.
Bills of exchange payable	9002
Advance payments received on contracts in progress	9012
Taxes, remuneration and social security	9022	.
Taxes	9032
Remuneration and social security	9042	.
Other amounts payable	9052	.
Total amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets	9062	834.171.545

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	37.761
Estimated taxes payable	450	652.386
Remuneration and social security (heading 454/9 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	3.931.720

Nr.	BE 0550.880.915	F 6.9
		Period
	ACCRUALS AND DEFERRED INCOME
	Allocation of heading 492/3 of liabilities if the amount is significant
	Accrued interests	2.371.713

.
Commitment fee	56 875
Other ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,	26 744

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
		.	.
.		.	.
			.
		.	.
Allocation into geographical markets
		.	.
		.	.
.
		.
Other operating income Operating subsidies and compensatory amounts received from public authorities	740	.	.
OPERATING CHARGES
Employees for whom the entreprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	62	46
Average number of employees calculated in full-time equivalents	9087	54.3	41,5
Number of actual worked hours	9088	91.669	69.256
Personnel costs
Remuneration and direct social benefits	620	7.638.805	4.943.216
Employers' contribution for social security	621	1.424.710	1.005.496
Employers' premiums for extra statutory insurance	622	184.643	126.678
Other personnel costs	623	323.100	347.217
Retirement and survivors' pensions	624	.	.

Nr.	BE 0550.880.915			F 6.10
		Codes	Period	Preceding period
	Provisions for pensions and other similar rights
	Appropriations (uses and write-backs)	635	.	.
	Amounts written off
	Stocks and contracts in progress
	Recorded	9110	.	.
	Written back	9111	.	.
	Trade debts
	Recorded	9112	.	.
	Written back	9113	.	.
	Provisions for liabilities and charges
	Additions	9115	1.876.724	2.269.551
	Uses and write-backs	9116		.
	Other operating charges
	Taxes related to operation	640	1.999	4.248
	Other costs	641/8	.	.
	Hired temporary staff and personnel placed at the enterprise's disposal
	Total number at the closing date	9096	2
	Average number calculated in full-time equivalents	9097	1,4	0.9
	Number of actual worked hours	9098	2.778	1.743
	Costs to the enterprise	617	184.682	64.824

	Codes	Period	Preceding period
FINANCIAL RESULTS
Other financial income Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125	.	.
Interest subsidies	9126	.	. .
Allocation of other financial income
Exchange differences		15.774.433	17.404.642
.		.	.
		.	.
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses and reimbursement premiums	6501	435.295	433.425
Capitalized Interests	6503	.	.
Amounts written off current assets
Recorded	6510	.
Written back	6511	.	.
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653	.
Provisions of a financial nature
Appropriations	6560	.
Uses and write-backs	6561	.
Allocation of other financial charges
Exchangerate differences		13.685.901	17.892.175
Factor fee		688.750	740.000
Other financial costs		135.012	92.695

$\Gamma$

┑

ℸ

INCOME AND COSTS OF EXCEPTIONNAL SIZE OR OF EXCEPTIONNAL OCCURENCE

	Codes	Period	Preceding period
NON-RECURRING INCOME	76		100.000
Non-Recurring Operating Income	(76A)
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilites and charges	7620
Capital gains on disposal of intangible and tangible fixed assets	7630
Other non-recurring financial income	764/8
Non-recurring financial income	(76B)		100.000
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769		100.000
NON-RECURRING CHARGES	66	273.802	1.025.014
Non-recurring operating charges	(66A)	250.727	918.377
Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for extraordinary operating liabilities and charges: appropriations (uses) (+)/(-)	6620
Capital losses on disposal of intangible and tangible fixed assets	6630
Other non-recurring operating charges	664/7	250.727	918.377
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)	23.075	106.637
Amounts written off financial fixed assets	661
Provisions for non-recurring financial liabilities and charges: appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668	23.075	106.637
Non-recurring financial charges to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	790.334
Income taxes paid and withholding taxes due or paid	9135	790.334
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137
Income taxes on the result of prior periods	9138	.
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
Disallowed expenses $\ldots$		316.052
Goodwill depreciation		29.481.728
Use of fiscal loss		$-4.572.814$
DRD		$-19.211.615$

Influence of the non-recurring results on the taxes
.
.

	Codes	Period
Status of deferred taxes Deferred taxes representing assets Accumulated tax losses deductible from future taxable profits	9141 9142	132.653.831 131.734.553
Other deferred taxes representing assets Notional interest deduction manufactured and announcement of the state of the state of the state of the state o		919.278 .
. Deferred taxes representing liabilities Allocation of deferred taxes representing liabilities	9144
		.

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	4.061.164	3.963.510
By the enterprise	9146	538.530	1.034.176
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	2.686.265	1.673.840
For withholding taxes on investment income	9148	11.322.473	8.616.666

Nr.	BE 0550.880.915		F 6.14
-----	-----------------	--	--------

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the
enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	9161
Amount of registration	9171
Pledging of goodwill - Amount of the registration	9181
Pledging of other assets - Book value of other assets pledged	9191	2.795.338.220
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties Mortgages
Book value of the immovable properties mortgaged	9162
Amount of registration	9172
Pledging of goodwill - Amount of the registration	9182
Pledging of other assets - Book value of other assets pledged	9192	3.152.437.657
Guarantees provided on future assets - Amount of assets involved	9202

Nr. BE 0550.880.915		F 6.14
	Codes	Period
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR
OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE		.
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
		.
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214	.
Currencies purchased (to be received)	9215	130.953.263
Currencies sold (to be delivered)	9216	130.953.263

$\overline{\mathbb{L}}$

Nr.	BE 0550.880.915
			Period
SERVICES		OBLIGATIONS COMING FROM TECHNICAL GUARANTEES CONNECTED WITH ALREADY PERFORMED SELLS OR
		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, .
			Period

AMOUNT, NATURE AND FORM OF THE IMPORTANT PENDING CASES AND OTHER IMPORTANT OBLIGATIONS
	.

SETTLEMENT WITH REGARD TO THE COMPLEMENTARY RETREAT OR SURVIVAL PENSION FOR STAFF AND BOARD MEMBERS

Concise description

There is a defined contribution plan, covered by a group insurance, in place for employees for which the premiums paid are expensed in the respective accounting year.

Measures taken to cover the related costs

	Codes	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting from past services	9220
Methods of estimation

ANDERE FINANCIËLE GEVOLGEN VAN MATERIËLE GEBEURTENISSEN DIE ZICH NA BALANSDATUM HEBBEN VOORGEDAAN EN DIE NIET IN DE RESULTATENREKENING OF BALANS WORDEN WEERGEGEVEN
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Nr	BE 0550.880.915
			Period
		ENGAGEMENT TO BUY OR SELL THAT THE ENTREPRISE HAS AS A WRITER OF OPTIONS TO BUY OR SELL.
		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

	Perior
NATURE, COMMERCIAL PURPOSE AND FINANCIAL CONSEQUENCES OF THE SETTLEMENTS NOT INCLUDED IN THE BALANCE
If the risks and advantages that occur from such settlements are of any meaning and in the case that publishing such risks and advantages is necessary to judge the financial position of the company
Ontex Group NV has a factoring agreement with a financial institution for an amount of EUR 90.000.000 per December 31, 2016

OTHER RIGHTS AND ENGAGEMENTS NOT INCLUDED IN THE BALANCE (INCLUDING THOSE WHICH CANNOT BE CALCULATED)
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	2.763.486.040	2.520.112.918
Participating interests	(280)	1.907.965.289	1.907.965.289
Subordinated amounts receivable	9271
Other amounts receivable	9281	855.520.751	612.147.629
Amounts receivable from affiliated enterprises	9291	31.701.283	23.062.203
Over one year	9301
Within one year	9311	31.701.283	23.062.203
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	453.541.079	424.859.963
Over one year	9361	56.836.350	82.181.162
Within one year	9371	396.704.729	342.678.801
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of affiliated enterprises	9381	2.795.338.220	2.543.175.121
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391	2.449.000.000	1.905.100.000
Other significant financial commitments	9401
Financial results	9421	20.222.753	627.371.384
Income from financial fixed assets	9431	29.004.199	25.047.698
Income from current assets	9441
Other financial income Debt charges	9461	1.721.946	2.640.833
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

	Codes	Period	Preceding period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253	.	.
Participations	9263	.
Subordinated amounts receivable	9273	.	.
Other amounts receivable	9283	.	.
Over one year	9293		.
Over one year	9303	.	.
Within one year	9313	.	.
Amounts payable	9353	.	.
Over one year	9363	.	.
Within one year	9373	.
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383	.
Personal and real guarantees provided or irrevocably promised by
associated enterprises as security for debts or commitments of the
enterprise	9393	.	.
Other significant financial commitments	9403		.
ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Other enterprises linked by participating interests	9252	.	.
Participating interests	9262	.	.
Subordinated amounts receivable	9272	.
Other amounts receivable	9282	.	.
Amounts receivable	9292
Over one year	9302		.
Within one year	9312	.
Amounts payable	9352	.
Over one year	9362	.
Within one year	9372

Nr.

BE 0550.880.915

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company
$NIHII$

Nr. F 6.16 BE 0550.880.915
----------------------------------

FINANCIAL RELATIONSHIPS WITH

DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS

	Codes	Period
Amounts receivable from these persons	9500
Most important conditions on amounts receivable, rate of interest, duration, amounts possibly refunded, cancelled or written out
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503	9.850.124
To former directors and former managers	9504

AUDITORS OR PEOPLE THEY ARE LINKED TO

	Codes	Period
Auditor's fees	9505	230.500
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	14.850
Tax consultancy	95062
Other missions external to the audit	95063	298.530
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	55.006
Other missions external to the audit	95083	135.606

Mentions related to article 133, paragraph 6 from the Companies Code

A specific exemption on the one-to-one rule was approved by the audit and risk committee.

Nr.	BE 0550.880.915
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DERIVATIVES NOT MEASURED AT FAIR VALUE

VOOR IEDERE CATEGORIE AFGELEIDE FINANCIËLE INSTRUMENTEN DIE NIET GEWAARDEERD ZIJN OP BASIS VAN REËLE WAARDE

Category derivative fincial instruments	Hedged risk	Speculation / hedging	Scope	Period: Booked value	Period: Real value	Preceding period: Booked value	Preceding period: Real value

FINANCIAL FIXED ASSETS BOOKED AT A HIGHER AMOUNT THAN THE REAL VALUE Amount of the seperate assets or fit groups
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Reasons why the book value is not diminished

Elements that allow to suppose that the book value will be realised

$\overline{F}$ 6.17

Nr.	BE 0550.880.915	F 6.18.1

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise has prepared and published consolidated accounts and a consolidated report

	Nr.	BE 0550.880.915		F 6.18.2
--	-----	-----------------	--	----------

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE ENTERPRISE IN BELGIUM WITH AUDITORS OR WITH PEOPLE THEY ARE LINKED TO

	Codes	Period
Mentions related to article 134, paragraphs 4 and 5 from the Companies Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071
Tax consultancy	95072
Other missions external to the audit	95073
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

Mentions related to article 133, paragraph 6 from the Companies Code

VALUATION RULES

BE 0550.880.915 Summary Accounting policies "naamloze vennootschap" Ontex Group , Korte Keppestraat 21, 9320 Erembodegem

The accounting policies have been set in accordance with the Royal Decree of 30 January 2001 in execution of the Companies Act. These are applicable for the valuation of the whole set of receivables, liabilities and obligations, of whatever nature, related to Ontex Group NV and the own funds provided to this Company.

The accounting policies are in particular applicable for the determination and adjustment of depreciations, amortizations and provisions for liabilities and charges as well as revaluations. 1.General Accounting Policies

a) Individual valuation of each asset component Every component of the assets is valued individually. The depreciations, amortizations and revaluations are specific to the related asset components. The provisions for liabilities and charges are valued individually.

b) Prudence, sincerity and good faith The amortizations, depreciations, valuations and provisions for liabilities and charges meet the requirements of prudence, sincerity and good faith. The depreciations, amortizations and provisions for liabilities and charges are systematically recorded and don't depend on the result of the year.

c) Acquisition value – nominal value - revaluation

_________________________________________________

As a general rule, each component of the assets is valued at its acquisition cost and shown in the balance sheet for that amount, minus any depreciation or write-downs. However :

• The amounts receivable are shown, in principle, at their nominal value.

• The tangible assets as well as the investments and shares reported under the financial assets can be valued according to the cases indicated in article 57 of the abovementioned Royal Decree. 2.Specific Accounting Policies Formation expenses

These expenses are shown at their acquisition value and are amortized using the straight-line method over 5 years as from the year of acquisition on a prorated daily basis. The capitalized issuance costs relating to the borrowings are amortized over the term of the loan.

Restructuring costs are recognized in the section "Formation expenses" from the balance sheet and amortized using the straight-line method over a period of 5years on a prorated basis.

Tangible and intangible fixed assets

a) Valuation gross value

Tangible assets are carried at acquisition value and recorded for that amount in the balance sheet less any accumulated depreciation and impairment loss.

The acquisition value represents the acquisition cost or where appropriate, the manufacturing price.

The acquisition cost includes the acquisition price and any directly attributable costs. The manufacturing price includes in addition to the acquisition cost of the raw materials, consumables and supplies also the production costs.

b) Depreciations

Tangible assets with finite useful lives are depreciated spreading the related cost over the probable useful life of the asset. The tax regulations concerning declining balance depreciations and other methods of accelerated depreciations can be used .

An exceptional depreciation is applied to disposed assets or assets that are no longer useful for the Company's activities in order to align their book value with their likely realization value. The intangible assets are amortized as follows:

-Research and development costs 20 % straight-line -Concessions, patents and licenses 20 % straight-line -Goodwill 20 % straight-line -Prepayments / The tangible assets are depreciated as follows: -Land and buildings 5 % straight-line 5 % declining balance -Additional building costs 5 % straight-line 5 % declining balance - Installation, machinery and equipment 20 % straigth-line - 20 % declining balance - 33 % straight-line (second hand and small equipment) -Furniture and vehicles 20 % straight-line - 20 % declining balance - 25 % straight-line 33 % straight-line (second hand) -Leasing and similar rights 20 % straight-line - 20 % declining balance -Other tangible assets 3 % straight-line - 33 % straight-line -Assets under construction / The assets are depreciated as from the year of acquisition on a prorata daily basis. The accounting year ending as per 31 december 2014 represents the Company's first accounting year. Financial assets Investments are recorded at their acquisition price or contribution value without supplementary costs. Receivables and guarantees are recorded at their nominal value. An impairment loss is accounted for in case of permanent capital loss or decline in value. Amounts receivable within one year Amounts receivable are recorded on the balance sheet at their nominal value. An appropriate write-down will be made if part or all of the payment on the due date is uncertain, or if the recoverable amount on the balance sheet date is lower than the book value. Cash investments Cash investments are valued at their nominal value. Repurchased own shares are valued at the acquisition value as calculated using the LIFO method. Cash and cash equivalents Balances held with financial institutions are valued at their nominal value. Both positive and negative translation differences for cash and cash equivalents in foreign currency are recorded in the financial results. Provisions for liabilities and charges Management determines with prudence and good faith the provisions to be recorded for any pending disputes, charges and risks. Amounts payable after more than 1 year and within 1 year Amounts payable are shown in the balance sheet at their nominal value. Receivables and payables in foreign currency Receivables and payables are converted using the exchange rate on the last trading day of the accounting year where both the positive and negative translation results totalized per currency are recorded in the income statement. Accruals and deferrals Accruals and deferrals are valued at their acquisition cost and recorded in the balance sheet for the part that refers to the next accounting year or years. 3. Free disclosure In the context of the group financing in 2014, a Credit Facility consisting of a term loan of € 380 million ("Facility A") and a revolving credit facility of € 100 million ("Facility B"), was

				F 6.19
--	--	--	--	--------

negotiated with banks. On February 25, 2016 an additional term loan of € 125 million ("Facility C") was added to this Credit Facility via an amendment. Facility A and Facility B were fully used on December 31, 2016. Different group companies, of which Ontex Group NV, are liable for the obligations resulting from this financing. Ontex Group NV has also issued a bond for a total amount € 250 million in November, 2014. For this financing there are also several group companies, of which Ontex Group NV, liable for the obligations resulting from this financing. The amounts provided as security refer to participations in affiliated enterprises and receivables from these enterprises. The amounts included under codes 9381 and 9391 are related to participations in affiliated enterprises and receivables from these enterprises that are included in the balance sheet of Ontex Group NV. Other important companies of the group provide the same securities.

Counting all participations and receivables from affiliated enterprises from the individual annual accounts would lead to an important double counting, for this reason the amounts included under codes 9192 and 9391 are the total of the consolidated assets.

The company is part of a VAT unit that was established within the Ontex Group and of which the following companies are part of

• Ontex BVBA
• Eutima BVBA
• Ontema BVBA

As a consequence, the company is liable for the VAT debts of all the above mentioned companies.

	Nr.	BE 0550.880.915		F 6.20
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OTHER INFORMATION THAT HAS TO BE MENTIONNED IN THE DISCLOSURE

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

MANAGEMENT REPORT

|--|

ACCOUNTANTS REPORT

|--|

REPORT ON PAYMENTS TO THE GOVERNMENT

Nr.	BE 0550.880.915	F 10

SOCIAL BALANCE SHEET

Number of joint industrial committee:	200

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE ENTREPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the current period	Codes	Total	1. Men	2. Women
Average number of employees
Full-time	1001	52,3	35,3	17,0
Part-time	1002	2,4		2,4
Total in full-time equivalents	1003	54,3	35,3	19,0
Number of hours actually worked
Full-time	1011	88.195	60.637	27.558
Part-time	1012	3.474		3.474
Total	1013	91.669	60.637	31.032
Personnel costs
Full-time	1021	8.950.137	6.556.224	2.393.913
Part-time	1022	621.121		621.121
Total	1023	9.571.258	6.556.224	3.015.034
Advantages in addition to wages	1033	74.105	50.065	24.040

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	41,5	25,0	16,5
Number of hours actually worked	1013	69.256	42.554	26.702
Personnel costs	1023	6.422.605	3.946.413	2.476.192
Advantages in addition to wages	1033	1.617	500	1.117

EMPLOYEES FOR WHOM THE ENTREPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER (continued)

At the closing date of the period		1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees	105	59	3	61,5
By nature of the employment contract
Contract for an indefinite period	110	59	3	61,5
Contract for a definite period	111
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	41		41,0
primary education	1200
secondary education higher non-university education university education		1		1,0
		18		18,0
		22		22,0
Women	121	18	3	20,5
primary education	1210
secondary education	1211	2		2,0
higher non-university education	1212	4	1	4,8
university education		12	2	13,7
By professional category
Management staff	130
Employees	134	59	3	61,5
Workers	132
Others	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	1. Hired temporary staff	2. Persons placed at the enterprise's disposal
Average number of persons employed	150	1,4
Number of hours actually worked	151	2.778
Costs for the enterprise	152	184.682

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205	22	1	22,8
By nature of employment contract
Contract for an indefinite period	210	22	1	22,8
Contract for a definite period	211
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES
-------------------	--

DEPARTURES	Codes	1. Full-time 2. Part-time		3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305	6	1	6,5
By nature of employment contract
Contract for an indefinite period	310	6	1	6,5
Contract for a definite period	311
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal	342		1	0,5
Other reason	343	6		6,0
the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

Nr.	BE 0550.880.915	F 10

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801	7	5811
Number of actual training hours	5802	192	5812
Net costs for the enterprise	5803	17.718	5813
of which gross costs directly linked to training	58031	17.718	58131
of which fees paid and paiments to collective funds	58032		58132
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821		5831
Number of actual training hours	5822		5832
Net costs for the enterprise	5823		5833
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853