Ontex Group NV — Audit Report / Information 2015

Apr 22, 2016

{0}------------------------------------------------

40				1	EUR
NAT.	Date of deposit	Nr.	P.	E.	D.

ANNUAL	ACCOUNTS I	N EUROS

		ANNUAL ACCOUNTS IN EUROS
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: Website*:			Gent, Division Dendermonde
			Company number			BE 0550.880.915
24 04 2014 DATE / / the date of publication of the memorandum of association and of the act amending the articles of association.	of deposit of the memorandum of association OR of the most recent document mentioning
ANNUAL ACCOUNTS approved by the general meeting of			25 05 /	2016 /
	regarding the period from	01 01 / /	2015	to	31 /	12 2015 /
	Preceding period from	24 04 / /	2014	to	31 /	12 2014 /
The amounts for the preceding period are / are not** identical to the ones previously published.	XXXXX
COMPLETE LIST with name, surnames, profession, address (street, number, postal code and municipality) and position within the company, of the DIRECTORS, BUSINESS MANAGERS AND AUDITORS
Revalue BVBA Nr.: BE 0839.566.573 Slijkstraat 67, 3212 Pellenberg, Belgium				10/04/2015 - 25/05/2018		Chairman of the board of directors
Represented by:
Luc Missorten (Representative) Slijkstraat 67, 3212 Pellenberg, Belgium
Charles David Bouaziz avenue Wolvendael 65, 1180 Uccle, Belgium				Director 24/04/2014 - 25/05/2018
Cepholli bvba Nr.: BE 0538.753.143 Winston Churchillaan 49 box B5, 1180 Uccle, Belgium				Director 24/04/2014 - 25/05/2018
Represented by:
Are attached to these annual accounts:
Total number of pages deposited: Numbers of sections of the standard form not deposited because they serve no useful 5.2.1, 5.2.4, 5.3.4, 5.4.2, 5.5.2, 5.16, 8, 9 purpose:	45
		Signature (name and position)				Signature (name and position)

^* Optional information.

^** Strike out what is not applicable.

{1}------------------------------------------------

Nr. F 1.1 BE 0550.880.915

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

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

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

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

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

Represented by:

Inge Boets (Representative)

Onderheide 28, 2930 Brasschaat, Belgium

Tegacon AS

Sonja Henies vei 1, 1394 Nesbru, Norway

Director

01/10/2014 - 25/05/2018

Represented by:

Gunnar Johansson (Representative)

Sonja Henies vei 1, 1394 Nesbru, Norway

Uwe Krüger Director

Pfannenstilstrasse 9, 8835 Feusisberg, Switzerland 02/06/2014 - 25/05/2018

Paul Walsh

(Formal Chairman of the Board)

Cedar Farm,Balls Cross,Kirdford -, RH14 0JJ West Sussex, United Kingdom

Director

02/06/2014 - 10/04/2015

Kite Consulting Ltd

Hope Street, Douglas IM11AR 36, IM1AR Douglas, Isle of Man

Director

01/10/2014 - 10/04/2015

Represented by:

Butland Richard (Representative)

Queensmere Road 4, SW195NY Londen, United Kingdom

Antonio Capo

Holland Park gardens 24, W14 8EA Londen, United Kingdom

Director 02/06/2014 - 10/03/2015

Stockbridge MGT Limited

Broughton House -, SO20 8AY Broughton Hamshire, United Kingdom

Director

01/10/2014 - 10/04/2015

Represented by:

Simon Henderson (Representative)

Broughton House, SO20 8AY Broughton Hamshire, United Kingdom

Luc Missorten

Slijkstraat 67, 3212 Pellenberg, Belgium

Director

02/06/2014 - 10/04/2015

{2}------------------------------------------------

Nr. F 1.1 BE 0550.880.915

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

Alexandre Mignotte

Middlesex Street 84, E1 7EZ Londen, United Kingdom

Michele Titi-Cappelli

Cranley gardens 7, SW7 3BB Londen, United Kingdom

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

28/08/2014 - 10/03/2015

Director

02/06/2014 - 10/03/2015

Auditor

24/04/2014 - 25/05/2017

{3}------------------------------------------------

Nr.	BE 0550.880.915		F 1.2
-----	-----------------	--	-------

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: name, surnames, profession, 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: name, surnames, profession, address of each certified accountant or certified bookkeeper - tax specialist and the nature of his assignment.

Name, surnames, profession and address	Number	Nature of the assignment (A, B, C and/or D)

^* Strike out what is not applicable.

^** Optional information.

{4}------------------------------------------------

F 2.1

Nr.

BE 0550.880.915

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
FIXED ASSETS		20/28	2.650.671.354	1.810.000.000
Formation expenses	5.1	20	3.719.316
Intangible fixed assets	5.2	21	122.397.515
Tangible fixed assets	5.3	22/27	4.297.318
Land and buildings		22	1.363
Plant, machinery and equipment		23	1.065.968
Furniture and vehicles		24
Leasing and similar rights		25
Other tangible fixed assets		26
Assets under construction and advance payments		27	3.229.987
	5.4/
Financial fixed assets	5.5.1	28	2.520.257.205	1.810.000.000
Affiliated enterprises	5.14	280/1	2.520.112.918	1.810.000.000
Participating interests		280	1.907.965.289	1.180.000.000
Amounts receivable		281	612.147.629	630.000.000
Other enterprises linked by participating interests	5.14	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	144.287
		284
Shares			144 207
Amounts receivable and cash guarantees		285/8	144.287
CURRENT ASSETS		29/58	301.948.238	6.242.654
Amounts receivable after more than one year		29
Trade debtors		290
Other amounts receivable		291
		3
Stocks and contracts in progress		30/36
Stocks
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	88.412.625	4.446.948
Trade debtors		40	73.475.777	4.313.634
Other amounts receivable		41	14.936.848	133.314
Other amounts receivable		''	7 1100010 10	700.077
	5.5.1/		40 400 505
Current investments	5.6	50/53	13.108.539
Own shares		50	13.108.539
Other investments		51/53
Cash at bank and in hand		54/58	194.432.981	359
Deferred charges and accrued income	5.6	490/1	5.994.093	1.795.347
TOTAL ASSETS		20/58	2.952.619.592	1.816.242.654

{5}------------------------------------------------

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY(+)/(-)		10/15	1.832.595.271	1.162.516.634
Capital	5.7	10	721.489.865	680.650.828
Issued capital		100	721.489.865	680.650.828
Uncalled capital		101
Share premium account		11	218.321.754	144.419.162
Revaluation surpluses		12
Reserves		13	395.232.058	387.100.000
Legal reserve		130	29.490.184
Reserves not available		131	13.108.539
In respect of own shares held		1310	13.108.539
Other		1311
Untaxed reserves		132
Available reserves		133	352.633.335	387.100.000
Accumulated profits (losses)(+)/(-)		14	497.551.594	-49.653.356
Investment grants		15
Advance to associates on the sharing out of the assets		19
PROVISIONS AND DEFERRED TAXES		16	5.081.435	2.811.884
Provisions for liabilities and charges		160/5	5.081.435	2.811.884
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Other liabilities and charges	5.8	163/5	5.081.435	2.811.884
Deferred taxes		168
AMOUNTS PAYABLE		17/49	1.114.942.886	650.914.136
Amounts payable after more than one year	5.9	17	725.289.702	630.000.000
Financial debts		170/4	725.289.702	630.000.000
Subordinated loans		170
Unsubordinated debentures		171	250.000.000	250.000.000
Leasing and other similar obligations		172	393.108.540	200,000,000
Credit institutions		173 174	82.181.162	380.000.000
Other loans Trade debts		175	02.101.102
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year		42/48	386.260.1 4 2	18.377.782
Current portion of amounts payable after more than one year	5.9	42
falling due within one yearFinancial debts	5.9	43	152.755.107	900.891
Credit institutions		430/8		900.891
Other loans		439	152.755.107
Trade debts		44	4.221.091	4.507.922
Suppliers		440/4	4.221.091	4.507.922
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	5.9	45	5.092.181	68.969
Taxes		450/3	2.518.752	68.969
Remuneration and social security		454/9	2.573.429
Other amounts payable		47/48	224.191.763	12.900.000
Accruals and deferred income	5.9	492/3	3.393.042	2.536.354
TOTAL LIABILITIES		10/49	2.952.619.592	1.816.242.654

{6}------------------------------------------------

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/74	17.532.316	16.346.633
Turnover	5.10	70
Stocks of finished goods and work and contracts in progress:
increase (decrease)(+)/(-)		71
Own work capitalised		72
Other operating income	5.10	74	17.532.316	16.346.633
Operating charges(+)/(-)		60/64	51.595.149	18.733.541
Raw materials, consumables		60
Purchases		600/8
(+)/(-) Stocks: decrease (increase)		609
Services and other goods		61	11.164.299	15.920.959
Remuneration, social security costs and pensions(+)/(-)	5.10	62	6.422.607
Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets		630	31.734.444
Amounts written off stocks, contracts in progress and trade
debtors: Appropriations (write-backs)(+)/(-)		631/4
Provisions for liabilities and charges: Appropriations (uses (+)/(-) and write-backs)	5.10	635/7	2.269.551	2.811.884
Other operating charges	5.10	640/8	4.248	698
Operating charges carried to assets as restructuring costs(-)		649
Operating profit (loss)(+)/(-)		9901	-34.062.833	-2.386.908
Financial income		75	669.855.338	1.791.258
Income from financial fixed assets		750	627.371.384
Income from current assets		751	25.079.312	1.790.211
Other financial income	5.11	752/9	17.404.642	1.047
Financial charges (+)/(-)	5.11	65	44.875.350	2.514.176
Debt charges		650	26.150.480	2.492.131
Amounts written off current assets except stocks, contracts
in progress and trade debtors: appropriations (write-backs)
(+)/(-)		651
Other financial charges(+)/(-)		652/9	18.724.870	22.045
(+)/(-) Gain (loss) on ordinary activities before taxes		9902	590.917.155	-3.109.826

{7}------------------------------------------------

	Discl.	Codes	Period	Preceding period
Extraordinary income Write-back of depreciation and of amounts written off		76	100.000
intangible and tangible fixed assets		760
Write-back of amounts written down financial fixed assets Write-back of provisions for extraordinary liabilities and		761
charges		762
Capital gains on disposal of fixed assets		763
Other extraordinary income	5.11	764/9	100.000
(+)/(-) Extraordinary charges Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed		66	1.025.014	46.543.530
assets		660
Amounts written off financial fixed assets Provisions for extraordinary liabilities and charges:		661
appropriations (uses)(+)/(-)		662
Capital losses on disposal of fixed assets		663
Other extraordinary charges	5.11	664/8	1.025.014	46.543.530
Extraordinary charges carried to assets as restructuring costs(-)		669
(+)/(-) Gain (loss) for the period before taxes		9903	589.992.141	-49.653.356
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes(+)/(-)	5.12	67/77	188.468
Taxes		670/3	324.585
Adjustment of income taxes and write-back of tax provisions		77	136.117
Gain (loss) of the period (+)/(-)		9904	589.803.673	-49.653.356
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation(+)/(-)		9905	589.803.673	-49.653.356

{8}------------------------------------------------

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
(+)/(-) Profit (loss) to be appropriated (+)/(-) Gain (loss) of the period available for appropriation	9906 (9905)	540.150.317 589.803.673	-49.653.356 -49.653.356
(+)/(-) Profit (loss) brought forward	14P	-49.653.356
Withdrawals from capital and reserves	791/2	34.466.665	12.900.000
from capital and share premium account	791
from reserves	792	34.466.665	12.900.000
Transfer to capital and reserves	691/2	42.598.723
to capital and share premium account	691
to legal reserve	6920	29.490.184
to other reserves	6921	13.108.539
Profit (loss) to be carried forward(+)/(-)	(14)	497.551.594	-49.653.356
Owners' contribution in respect of losses	794
Profit to be distributed	694/6	34.466.665	12.900.000
Dividends	694	34.466.665	12.900.000
Directors' or managers' entitlements	695
Other beneficiaries	696

{9}------------------------------------------------

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Preceding period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx
Movements during the period
New expenses incurred	8002	4.228.352
Depreciation	8003	472.943
Other(+)/(-)	8004	-36.093
Net book value at the end of the period	(20)	3.719.316
Of which
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2	3.719.316
Restructuring costs	204

{10}------------------------------------------------

	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8022	7.939.072
Sales and disposals	8032
(+)/(-) Transfers from one heading to another	8042
Acquisition value at the end of the period	8052	7.939.072
Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8072	1.441.037
Written back	8082
Acquisitions from third parties	8092	2.633.691
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	4.074.728
NET BOOK VALUE AT THE END OF THE PERIOD	211	3.864.344

{11}------------------------------------------------

	Codes	Period	Preceding period
GOODWILL
Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8023	148.450.897
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	148.450.897
Depreciations and amounts written down at the end of the period	8123P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8073	29.917.727
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	29.917.727
NET BOOK VALUE AT THE END OF THE PERIOD	212	118.533.170

{12}------------------------------------------------

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx
Movements during the period Acquisitions, including produced fixed assets Sales and disposals (+)/(-) Transfers from one heading to another	8161 8171 8181	3.214
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 Acquisitions from third parties Cancelled Transferred from one heading to another (+)/(-)	8211 8221 8231 8241
Revaluation surpluses at the end of the period	8251
Depreciations and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx
Movements during the period Recorded Written back Acquisitions from third parties Cancelled owing to sales and disposals Transferred from one heading to another (+)/(-)	8271 8281 8291 8301 8311	161 1.690
Depreciations and amounts written down at the end of the period	8321	1.851
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	1.363

{13}------------------------------------------------

	Codes Period		Preceding period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8162	1.993.125
Sales and disposals	8172
(+)/(-) Transfers from one heading to another	8182
Acquisition value at the end of the period	8192	1.993.125
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
Movements during the period
Recorded	8272	336.001
Written back	8282
Acquisitions from third parties	8292	591.155
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	927.156
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	1.065.969

{14}------------------------------------------------

	Codes Period		Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8163	6.842
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
Movements during the period
Recorded	8273
Written back	8283
Acquisitions from third parties	8293	6.842
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)

{15}------------------------------------------------

	Codes Period		Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8165	36.564
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
Movements during the period
Recorded	8275
Written back	8285
Acquisitions from third parties	8295	36.564
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)

{16}------------------------------------------------

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8166	3.229.987
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186
Acquisition value at the end of the period	8196	3.229.987
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)	3.229.987

{17}------------------------------------------------

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	1.180.000.000
Movements during the period
Acquisitions	8361	738.753.766
Sales and disposals	8371	1.180.000.000
(+)/(-) Transfers from one heading to another	8381
Acquisition value at the end of the period	8391	738.753.766
Revaluation surpluses at the end of the period	8451P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8411	1.169.211.523
Acquisitions from third parties	8421
Cancelled	8431
Transferred from one heading to another (+)/(-)	8441
Revaluation surpluses at the end of the period	8451	1.169.211.523
Amounts written down at the end of the period	8521P	xxxxxxxxxxxxxxx
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
Amounts written down at the end of the period	8521
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx
(+)/(-) Movements during the period	8541
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	1.907.965.289
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx	630.000.000
Movements during the period
Additions	8581	382.437.711
Repayments	8591
Amounts written down	8601
Amounts written back	8611
(+)/(-) Exchange differences	8621
(+)/(-) Other movements	8631	-400.290.082
NET BOOK VALUE AT THE END OF THE PERIOD	(281)	612.147.629
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8651

{18}------------------------------------------------

- 1		- 1	2	П
	Г:	).4		1

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxx
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	xxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
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	xxxxxxxxxxxx
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	xxxxxxxxxxxx
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	xxxxxxxxxxxx
Movements during the period
Additions	8583	144.287
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)	144.287
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

{19}------------------------------------------------

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES

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

	Rig	hts held b	у	Data extracted from the most recent annual ac			ual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian	direc	tly	subsidiar ies	Annual	Cur-	Capital and reserve	Net result
law, the COMPANY IDENTIFICATION NUMBER	Number	%	%	accounts as per	rency code	(+) of (in uni
Ontex bvba BE 0419.457.296 Private company with limited liability Genthof 5, 9255 Buggenhout, Belgium Capital shares	371.481.132	99,99	0,0	31/12/2015	EUR	312.368.159	123.807.988

{20}------------------------------------------------

Nr.	BE 0550.880.915		F 5.6
-----	-----------------	--	-------	--

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
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term accounts with credit institutions	53
up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not mentioned above	8689

	Period
DEFERRED CHARGES AND ACCRUED INCOME
Allocation of heading 490/1 of assets if the amount is significant
Accrued interests	5.825.750
Other	168.343

{21}------------------------------------------------

F 5.7

Nr.

BE 0550.880.915

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period	1	Preceding period
	Codes	1 61100	4	1 receasing period
STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	xxxxxxxxx	xxxx	680.650.828
Issued capital at the end of the period	(100)	721.489	9.865
·
	Codes	Value		Number of shares
Changes during the period
ABB procedure of 09.11.2015		40.83	9.037	4.083.332
Structure of the capital
Different categories of shares Shares without nominal value		721.489	9 865	72.138.887
Shares without nonlinal value		727.700		72.700.007
Registered shares	8702	xxxxxxxx	xxxx
Shares to bearer and/or dematerialized	8703	XXXXXXXXX	XXXX	72.138.887
	Codes	Uncalled ar	mount	Capital called but not paid
				paid
Capital not paid	(404)
Uncalled capital	(101) 8712			XXXXXXXXXXXXXX
Called up capital, unpaidShareholders having yet to pay up in full	07 12	XXXXXXXXX	*
Charenoiders having yet to pay up in ruii
			Codes	Period
Own shares
Held by the company itself
Amount of capital held			8721	13.108.539
Corresponding number of shares			8722	484.246
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			8751	299.486.377

{22}------------------------------------------------

	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

Shareholder	Number of shares	%
Groupe Bruxelles Lambert SA	5.513.182	7,64
Blackrock	5.442.789	7,54
Allianz Global Investors GmbH	3.876.537	5,70
Aviva Plc	3.384.626	4,97
Janus Captal Mgmt LLC	3.424.055	4,75
Ameriprise Financial Inc. Threadneedle Asset Mgmt	2.620.726	3,85
Norges Bank	2.256.854	3,32
Axa Investment Managers SA	2.053.236	3,02

^* based on information received up to December 31, 2015

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

{23}------------------------------------------------

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ANALYSIS OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Share based payments	5.081.435

{24}------------------------------------------------

:	5	5.9	5.9
---	---	-----	-----

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 would be with a consistent town of more than one but not more than five one
Amounts payable with a remaining term of more than one but not more than five years Financial debts	8802	475.289.702
Subordinated loans	8812
	8822
Unsubordinated debentures	8832
Leasing and other similar obligations		202 409 540
Credit institutions	8842	393.108.540
Other loans	8852	82.181.162
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	475.289.702
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

{25}------------------------------------------------

Nr. BE 0550.880.915	F 5.9	l
-----------------------	-------	---

	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	725.289.702
Subordinated loans	8932
Unsubordinated debentures	8942	250.000.000
Leasing and similar obligations	8952
Credit institutions	8962	393.108.540
Other loans	8972	82.181.162
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	725.289.702
	Codes	Period
Taxes, remuneration and social security
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	171.128
Estimated taxes payable	450	2.347.624
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	2.573.429

{26}------------------------------------------------

ACCRUALS AND DEFERRED INCOME Allocation of heading 492/3 of liabilities if the amount is significant Accrued interests ...................................

{27}------------------------------------------------

F 5.10

Nr.

BE 0550.880.915

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Not turn over
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	46
Average number of employees calculated in full-time equivalents	9087	41,5
Number of actual worked hours	9088	69.256
Personnel costs	620	4.943.216
Remuneration and direct social benefits	621	1.005.496
Employers' contribution for social security Employers' premiums for extra statutory insurance	622	1.003.490 126.678
Other personnel costs(+)/(-)	623	347.216
Retirement and survivors' pensions	624
·
Provisions for pensions and other similar rights	605
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	2.269.551	2.811.884
Uses and write-backs	9116
Other operating charges
Taxes related to operation	640	4.248	698
Other costs	641/8
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096
Average number calculated in full-time equivalents	9097	0,9
Number of actual worked hours	9098	1.743
Costs to the enterprise	617	64.824
•

{28}------------------------------------------------

Nr.	BE 0550.880.915		F 5.11
-----	-----------------	--	--------

FINANCIAL AND EXTRAORDINARY RESULTS

	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		17.404.642	1.047
Depreciation of loan issue expenses and reimbursement premiums	6501	433.424
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		47.000.475	4 000
Exchangerate differences(+)/(-)		17.892.175	1.369
Factor fee(+)/(-)		740.000	20.676
Other financial costs(+)/(-)		92.695	0

	Period
EXTRAORDINARY RESULTS
Allocation of other extraordinary income
Other	100.000
Allocation of other extraordinary charges
IPO expenses	290.600
Refinancing costs	106.637
Simplification company structure	627.777

{29}------------------------------------------------

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	324.584
Income taxes paid and withholding taxes due or paid	9135	324.584
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(+)/(-)		129.492
Goodwill depreciation (+)/(-)		29.917.727
(+)/(-) 95% Exemption liquidation bonus		-596.002.814

Impact of extraordinary results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes Deferred taxes representing assets Accumulated tax losses deductible from future taxable profits	9141 9142	137.213.922 113.684.922
Other deferred taxes representing assets Notional Interest deduction DRD		919.000 22.610.000
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	3.963.510	1.365.016
By the enterprise	9146	1.034.176	815.130
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	1.673.840
For withholding taxes on investment income	9148	8.616.666	3.225.000

{30}------------------------------------------------

Nr.	BE 0550.880.915		F 5.13
-----	-----------------	--	--------

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	9161
Book value of the immovable properties mortgaged
Amount of registration	9171
Pledging of goodwill - Amount of the registration	9181
Pledging of other assets - Book value of other assets pledged	9191	2.543.175.121
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	2.543.175.121
Guarantees provided on future assets - Amount of assets involved	9202
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	127.538.117
Currencies sold (to be delivered)	9216	127.538.117

{31}------------------------------------------------

Nr.	BE 0550.880.915		F 5.13

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS

BRIEF DESCRIPTION OF SUPPLEMENT RETIREMENT OR SURVIVORS PENSION PLAN IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE AND OF THE MEASURES TAKEN BY THE ENTERPRISE TO COVER THE RESULTING CHARGES

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.

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

NATURE AND COMMERCIAL OBJECTIVE OF TRANSACTIONS NOT REFLECTED IN THE BALANCE SHEET

Provided that the risks or advantages coming from these transactions are significant and if the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company; if need arises, the financial consequences of these transactions for the company have also to be mentioned

Ontex Group NV has a factoring agreement with a financial institution for an amount of EUR 90.000.000 per December 31, 2015

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

{32}------------------------------------------------

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	2.520.112.918	1.810.000.000
Participating interests	(280)	1.907.965.289	1.180.000.000
Subordinated amounts receivable	9271
Other amounts receivable	9281	612.147.629	630.000.000
Offici amounts reservable	0201
Amounts receivable from affiliated enterprises	9291	23.062.203	4.271.633
Over one year	9301
Within one year	9311	23.062.203	4.271.633
Current investments	9321
Shares	9331
Amounts receivable	9341
7 HTGG 1000174510
Amounts payable	9351	424.859.963	1.169.188
Over one year	9361	82.181.162
Within one year	9371	342.678.801	1.169.188
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of affiliated enterprises	9381	2.543.175.121	1.816.242.654
Provided or irrevocably promised by affiliated enterprises as security for
debts or commitments of the enterprise	9391	1.905.100.000	1.681.540.040
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421	627.371.384
Income from current assets	9431	25.047.698	1.789.922
Other financial income	9441
Debt charges	9461	2.640.833	20.135
Other financial charges	9471
· ·
Disposal of fixed assets	0.404
Capital gains obtained	9481
Capital losses suffered	9491
ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	(282/3)
Participating interests	(282)
Subordinated amounts receivable	9272
Other amounts receivable	9282
Carlot amounte recordable
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372
vviuiiii one yeai	3312

{33}------------------------------------------------

	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
NIHIL	0

............................................................................................................................................................................. ........................

{34}------------------------------------------------

Nr.	BE 0550.880.915		F 5.15
-----	-----------------	--	--------

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS
Amounts receivable from these persons	9500
Conditions on amounts receivable
Guarantees provided in their favour	9501
Main conditions of these guarantees
Other significant commitments undertaken in their favour	9502
Main conditions of the other commitments
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
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO Auditor's fees	9505	75.720
Fees for exceptional services or special missions executed in the company by the auditor Other attestation missions Tax consultancy Other missions external to the audit	95061 95062 95063	87.350
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	175.638
Other missions external to the audit	95083	1.142.500

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.

{35}------------------------------------------------

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

{36}------------------------------------------------

Nr.	BE 0550.880.915		F 5.17.2
-----	-----------------	--	----------

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	289.776
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071	116.015
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	645.732
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092	2.407.255
Other missions external to the audit	95093	1.314.247

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

{37}------------------------------------------------

Nr.	BE 0550.880.915		F 6
	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	39,2	25,0	14,2
Part-time	1002	3,3		3,3
Total in full-time equivalents	1003	41,5	25,0	16,5
Number of hours actually worked
Full-time	1011	65.052	42.554	22.498
Part-time	1012	4.204		4.204
Total	1013	69.256	42.554	26.702
Personnel costs
Full-time	1021	6.032.782	3.946.413	2.086.369
Part-time	1022	389.823		389.823
Total	1023	6.422.605	3.946.413	2.476.192
Advantages in addition to wages	1033	1.617	500	1.117

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003
Number of hours actually worked	1013
Personnel costs	1023
Advantages in addition to wages	1033

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003
Number of hours actually worked	1013
Personnel costs	1023
Advantages in addition to wages	1033

{38}------------------------------------------------

Nr.	BE 0550.880.915		F 6
-----	-----------------	--	-----

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	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees	105	43	3	45,2
By nature of the employment contract
Contract for an indefinite period	110	43	3	45,2
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	29		29,0
primary education	1200
secondary education	1201
higher non-university education	1202	16		16,0
university education	1203	13		13,0
Women	121	14	3	16,2
primary education	1210
secondary education	1211	1		1,0
higher non-university education	1212	5		5,0
university education	1213	8	3	10,2
By professional category
Management staff	130
Employees	134	43	3	45,2
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	0,9
Number of hours actually worked	151	1.743
Costs for the enterprise	152	64.824

{39}------------------------------------------------

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	44	3	46,2
By nature of employment contract
Contract for an indefinite period	210	44	3	46,2
Contract for a definite period	211
Contract for the execution of a specifically assigned work	212
Replacement contract	213

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	1		1,0
By nature of employment contract
Contract for an indefinite period	310	1		1,0
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
Other reason	343	1		1,0
the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

{40}------------------------------------------------

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	10	5811	5
Number of actual training hours	5802	84	5812	74
Net costs for the enterprise	5803	7.457	5813	8.849
of which gross costs directly linked to training	58031	7.457	58131	8.849
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

{41}------------------------------------------------

VALUATION RULES

BE 0550.880.915

Summary Accounting policies

"naamloze vennootschap" Ontex Group , Korte Keppestraat 21, 9320 Erembodegem

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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:

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-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

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.

-Research and development costs 20 % straight-line -Concessions, patents and licenses 20 % straight-line

An impairment loss is accounted for in case of permanent capital loss or decline in value.

-Other tangible assets 3 % straight-line - 33 % straight-line

Amounts receivable within one year

-Assets under construction /

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 Revolver Credit Facility was negotiated with the banks. The credit amounts to € 100 million, which was not used per December 31, 2015 by the group.

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Different group companies, of which Ontex Group NV, are liable for the obligations resulting from this financing.

Ontex Group NV has issued a bond for a total amount of € 250 million and a term loan of € 380 million. For this financing there are also several group companies, of which Ontex Group NV, liable for the obligations resulting from this financing.

The amounts included on codes 9381 & 9391 are related to this.

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.

On July 22th,2015 the Luxembourg entity Ontex I SA was liquidated by transfer of the assets to Ontex Group NV.

During the past year several mergers occurred in accordance with Article 722 of the Belgian Company Code. All operations of the acquired companies are included in the acquiring company (Ontex Group NV) by January 1st,2015

On July 30th, 2015 the following was decided :

• acquisition through merger of Ontex I SA
• acquisition through a transaction considered as a merger transaction of ONV TOPCO NV
• acquisition through a transaction considered as a merger transaction of Ontex

International BVBA

• acquisition through merger of Ontex Coordination Center BVBA

As a result of these transactions some logical controles related to the annual accounts are not applicable.

Because the above mentioned acquisitions have an impact on the comparability of the figures, we take below the opening balances of the acquired companies as per January 1st, 2015 (relevant date for accounting) :

In thousands EURO	Ontex I SA		Ontex Coordination Center bvba
Fixed Assets	0	0
Intangible Fixed Assets	0	0
Goodwill	106.638.748	0
Financial Fixed Assets (1)	667.171.086	0
Receivables > 1 jaar	0	484.307.318
Receivables < 1 jaar	1.418.638	113.025.295
Current investments	0	0
Cash at bank	0	5.904.135
Deferred charges and accrued income	0	4.972.073
Equity (1)	774.911.044	126.122.147
Provisions	0	0
Payables > 1 jaar	0	348.813.792
Payables < 1 jaar	317.428	132.317.839
Accruals and deferred income	0	955.043

In thousands EURO	Ontex Internationalbvba	Onv Topco NV	Ontex Group NV
Fixed Assets	3.436.076	0	0
Intangible Fixed Assets	3,657,083	0	0
Goodwill	0	0	0

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Nr. BE 0550.880.915				F 7
Financial Fixed Assets (1)	738.753.766	622.976.186	1.180.000.000
Receivables > 1 jaar	0	0	630.000.000
Receivables < 1 jaar	75.314.972	320.362	4.446.948
Current investments	0	0	0
Cash at bank	6.473	5.665	359
Deferred charges	180.956	0	1.795.347
and accrued income
Equity (1)	501.149.212	612.091.321	1.162.516.634
Provisions	0	0	2.811.884
Payables > 1 jaar	133.657.452	0	630.000.000
Payables < 1 jaar	186.057.615	11.210.892	18.377.782
Accruals	485.047	0	2.536.354

(1) mutual participations are eliminiated against equity

and deferred income

In thousands EURO	Ontex Group NV
Fixed Assets	3.436.076
Intangible Fixed Assets	3.657.083
Goodwill	690.291.037
Financial Fixed Assets	738.753.766
Receivables > 1 jaar	710.836.071
Receivables < 1 jaar	-1.819.499
Current investments	0
Cash at bank	5.916.632
Deferred charges and accrued income	6.948.376
Equity	1.162.516.634
Accruals	2.811.884
Payables > 1 jaar	708.999.997
Payables < 1 jaar	279.714.583
Accruals	3.976.444