Ontex Group NV — Audit Report / Information 2018

Apr 24, 2019

		EUR

Public limited company
Korte Keppestraat	21
9320 Erembodegem
Belgium
Gent, Division Dendermonde
	BE 0550.880.915
02 06 2016
ANNUAL ACCOUNTS IN EUROS	24 05 2019
01 01 2018 31	12 2018
01 01 2017 31	12 2017
XXXXX

51 6.2.2, 6.2.5, 6.3.4, 6.4.2, 6.5.2, 6.7.2, 6.17, 6.18.2, 6.20, 8, 9

Signature (name and position)

Signature (name and position)

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

Pfannenstilstrasse 9, 8835 Feusisberg, Switzerland

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

Michael Bredael Groeselenbergstraat 158, 1180 Uccle, Belgium Chairman of the board of directors 10/04/2015 - 25/05/2022

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 - 25/05/2022

Director 02/06/2014 - 25/05/2022

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

Director 24/05/2017 - 25/05/2021

Regi Aalstad Ch. Des Fontaines 20, 1297 Founex, Switzerland

Tegacon Suisse GmbH Nr.: CHE135958424 Rietbrunnen 28, 8808 Pfaffikon, Switzerland

Represented by:

Represented by:

Peter Opsomer (Auditor)

Membership nr.: B00748

Gunnar Johansson (Director) Kammershof 2, 85354 Freising, Germany

Rattepoelstraat 7, 9680 Maarkedal, Belgium

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

Director 24/05/2017 - 25/05/2021

Director 24/05/2017 - 25/05/2022

Auditor 25/05/2017 - 25/05/2020

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 WENE / were not* audited or corrected by an external accountant or by a company auditor who is not the statutory auditor.

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.

$\ast\ast$ Optional information.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20	1.588.393	2.194.975
FIXED ASSETS		21/28	3.077.343.209	3.033.963.901
Intangible fixed assets	6.2	21	45.362.510	71.969.479
Tangible fixed assets	6.3	22/27	2.097.848	2.553.418
Land and buildings		22	881	1.041
Plant, machinery and equipment		23	1.941.725	2.472.158
Furniture and vehicles		24
Leasing and similar rights		25
Other tangible fixed assets		26
Assets under construction and advance payments		27	155.242	80.219
Financial fixed assets 6.4/6.5.1		28	3.029.882.851	2.959.441.004
Affiliated enterprises	6.15	280/1	3.029.744.174	2.959.290.107
Participating interests		280	1.907.965.289	1.907.965.289
Amounts receivable		281	1.121.778.885	1.051.324.818
Enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	138.677	150.897
Shares		284
Amounts receivable and cash guarantees		285/8	138.677	150.897

	Discl. Codes	Period	Preceding period
CURRENT ASSETS	29/58	203.518.467	195.612.776
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	121.346.625	119.417.938
Trade debtors	40	54.160.922	67.301.961
Other amounts receivable	41	67.185.703	52.115.977
Current investments	50/53	27.921.745	29.254.624
Own shares	50	27.921.745	29.254.624
Other investments	51/53		.
Cash at bank and in hand	54/58	52.083.962	43.439.823
Deferred charges and accrued income	6.6 490/1	2.166.135	3.500.391
TOTAL ASSETS	20/58	3.282.450.069	3.231.771.652

Nr.

BE 0550.880.915

$F3.1$

Nr. BE 0550.880.915				F 3.2
	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	1.994.036.092	2.032.406.383
Capital Issued capital		10 100	823.587.466 823.587.466	823.587.466 823.587.466
Uncalled capital		101	.	.
Share premium account		11	412.742.142	412.742.142
Revaluation surpluses		12	.	.
Reserves		13	285.558.566	321.329.248
Legal reserve		130	29.660.184	29.660.184
Reserves not available		131	27.921.745	29.254.624
In respect of own shares held		1310	27.921.745	29.254.624
Other		1311	.	.
Untaxed reserves		132	.	675.443
Available reserves		133	227.976.637	261.738.997
Accumulated profits (losses)		14	472.147.918	474.747.527
Investment grants		15	.	.
Advance to associates on the sharing out of the assets		19		.
PROVISIONS AND DEFERRED TAXES		16	4.376.400	7.057.148
Provisions for liabilities and charges		160/5	4.376.400	7.057.148
Pensions and similar obligations		160	.	.
Taxation		161	.	.
Major repairs and maintenance		162	.	.
Environmental obligations		163	.	.
Other liabilities and charges	6.8	164/5	4.376.400	7.057.148
Deferred taxes		168

Nr.	BE 0550.880.915				F 3.2
		Discl.	Codes	Period	Preceding period
	AMOUNTS PAYABLE		17/49	1.284.037.577	1.192.308.121
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		6.9	17 170/4 170 171 172 173 174 175 1750 1751 176	806.495.104 806.495.104 782.995.104 23.500.000	793.630.523 793.630.523 775.630.523 18.000.000
	Other amounts payable		178/9
	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	6.9	42/48 42 43 430/8 439 44 440/4 441 46	476.613.961 241.519.879 82.400.000 159.119.879 8.939.708 8.939.708	397.628.697 184.066.931 30.000.000 154.066.931 6.284.543 6.284.543
	Taxes, remuneration and social security Taxes Remuneration and social security Other amounts payable	6.9	45 450/3 454/9 47/48	5.409.381 1.336.747 4.072.634 220.744.993	3.467.110 1.069.672 2.397.438 203.810.113
	Accruals and deferred income	6.9	492/3	928.512	1.048.901
	TOTAL LIABILITIES		10/49	3.282.450.069	3.231.771.652

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income Turnover	6.10	70/76A 70	41.861.828	46.385.760
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-)		71
Own work capitalised		72
Other operating income	6.10	74	41.861.828	45.791.166
Non-recurring operating income	6.12	76A		594.594
Operating charges		60/66A	69.541.996	68.770.257
Raw materials, consumables		60
Purchases		600/8
(+)/(-) Stocks: decrease (increase)		609
Services and other goods		61	18.202.066	21.364.596
Remuneration, social security costs and pensions (+)/(-) Depreciation of and other amounts written off formation	6.10	62	12.543.988	9.972.909
expenses, intangible and tangible fixed assets Amounts written off stocks, contracts in progress and trade		630	35.538.123	34.026.719
debtors: Appropriations (write-backs) (+)/(-) Provisions for liabilities and charges: Appropriations (uses	6.10	631/4
and write-backs) (+)/(-)	6.10	635/8	-2.680.748	98.989
Other operating charges	6.10	640/8	70.998	15.881
Operating charges carried to assets as restructuring costs(-)		649
Non-recurring operating charges	6.12	66A	5.867.569	3.291.163
Operating profit (loss) (+)/(-)		9901	-27.680.168	-22.384.497

	Discl.	Codes	Period	Preceding period
Financial income		75/76B	59.729.788	77.965.340
Recurring financial income		75	59.729.788	77.965.340
Income from financial fixed assets		750	21.610.288	29.933.183
Income from current assets		751	21.185.048	34.201.587
Other financial income	6.11	752/9	16.934.452	13.830.570
Non-recurring financial income	6.12	76B
Financial charges		65/66B	35.227.076	50.460.183
Recurring financial charges	6.11	65	35.211.549	50.452.683
Debt charges		650	15.076.667	26.624.926
Amounts written off current assets except stocks, contracts
in progress and trade debtors: appropriations (write-backs) (+)/(-)		651	12.162.396	2.014.336
Other financial charges		652/9	7.972.486	21.813.421
Non-recurring financial charges	6.12	66B	15.527	7.500
(+)/(-) Gain (loss) for the period before taxes		9903	-3.177.456	5.120.660
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	1.430.475	1.114.886
Taxes		670/3	1.430.475	1.114.886
Adjustment of income taxes and write-back of tax provisions		77
(+)/(-) Gain (loss) of the period		9904	-4.607.931	4.005.774
Transfer from untaxed reserves		789	675.443
Transfer to untaxed reserves		689		675.443
Gain (loss) of the period available for appropriation (+)/(-)		9905	-3.932.488	3.330.331

Nr. BE 0550.880.915 F 4

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated Gain (loss) of the period available for appropriation Profit (loss) brought forward	9906 (9905) 14P	470.815.039 $-3.932.488$ 474.747.527	485.641.918 3.330.331 482.311.587
Withdrawals from capital and reserves from capital and share premium account $from \, \, \text{reserves} \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ldots \, \, \ld$	791/2 791 792	35.095.239 35.095.239	49.408.331 49.408.331
Transfer to capital and reserves to capital and share premium account to legal reserve to other reserves	691/2 691 6920 6921	. . . .	10.894.391 . 170.000 10.724.391
Accumulated profits (losses)	(14)	472.147.918	474.747.527
Owners' contribution in respect of losses	794	.
Profit to be distributed	694/7	33.762.359	49.408.331
Dividends	694	33.762.359	49.408.331
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697

$F5$

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Preceding period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx	2.194.975
Movements during the period
New expenses incurred	8002
Depreciation	8003	606.582
Other (+)/(-)	8004
Net book value at the end of the period	(20)	1.588.393
Of which
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2
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	6.490
Sales and disposals	8031
(+)/(-) Transfers from one heading to another	8041
Acquisition value at the end of the period	8051	6.490
Depreciations and amounts written down at the end of the period	8121P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8071	30
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	30
NET BOOK VALUE AT THE END OF THE PERIOD	81311	6.460

Nr.	BE 0550.880.915				F 6.2.3
			Codes	Period	Preceding period
RIGHTS	CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR
		Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	22.173.480
	Movements during the period
		Acquisitions, including produced fixed assets	8022	7.521.390
		Sales and disposals	8032	58.524
	Transfers from one heading to another	(+)/(-)	8042	80.219
		Acquisition value at the end of the period	8052	29.716.565
		Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	9.603.456
	Movements during the period
		Recorded	8072	4.456.787
		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	14.060.243
		NET BOOK VALUE AT THE END OF THE PERIOD	211	15.656.322

Nr. BE 0550.880.915			F 6.2.4
	Codes	Period	Preceding period
GOODWILL
Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx	148.498.638
Movements during the period
Acquisitions, including produced fixed assets	8023
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	89.099.183
Movements during the period
Recorded	8073	29.699.728
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	118.798.911
NET BOOK VALUE AT THE END OF THE PERIOD	212	29.699.727

STATEMENT OF TANGIBLE FIXED ASSETS

	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	2.173
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	2.334
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	880

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	4.463.129
Movements during the period
Acquisitions, including produced fixed assets		8162	244.404
Sales and disposals		8172
Transfers from one heading to another	(+)/(-)	8182
Acquisition value at the end of the period		8192	4.707.533
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	1.990.971
Movements during the period
Recorded		8272	774.836
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	2.765.807
NET BOOK VALUE AT THE END OF THE PERIOD		(23)	1.941.726

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)

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	80.219
Movements during the period
Acquisitions, including produced fixed assets	8166	155.242
Sales and disposals	8176
(+)/(-) Transfers from one heading to another	8186	-80.219
Acquisition value at the end of the period	8196	155.242
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)	155.242

Nr. BE 0550.880.915 F 6.3.6

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	738.753.766
Movements during the period
Acquisitions	8361
Sales and disposals	8371
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	1.169.211.523
Movements during the period
Recorded	8411
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	1.051.324.818
Movements during the period
Additions	8581	70.454.067
Repayments	8591
Amounts written down	8601
Amounts written back	8611
(+)/(-) Exchange differences	8621
(+)/(-) Other movements	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)	1.121.778.885
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8651

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

	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
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	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	150.897
Movements during the period
Additions	8583
Repayments	8593	12.220
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)	138.677
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8653

Ontex bvba BE 0419.457.296 Private company with limited liability Genthof 5 9255 Buggenhout Belgium	Capital	shares371.481.132	99,99	0,0	31/12/2018	EUR	466.560.016	32.987.099

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

	Period Codes		Preceding period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares and current investments other than fixed income investments	51		.
Shares - Book value increased with the uncalled amount	8681	.	.
Shares - Uncalled amount	8682	.	.
Precious metals and works of art	8683	.	.
Fixed income securities	52		.
Fixed income securities issued by credit institutions	8684	.	.
Fixed term accounts with credit institutions	53		.
With residual term or notice of withdrawal
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	765 830
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

$F6.6$

Preceding period

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		823.587.466
Issued capital at the end of the period	(100)	823.587.466
	Codes	Value		Number of shares
Changes during the period
		.		.
		.
		.		.
Structure of the capital		.		.
Different categories of shares
Shares without nominal value		823.587.466		82.347.218
		.		.
		.		.
Registered shares Shares dematerialized	8702 8703	XXXXXXXXXXXXXX		16.343.051 66.004.167
		XXXXXXXXXXXXX
	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	27.921.745
Corresponding number of shares			8722	1.559.874
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	411.793.733

Codes

Period

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

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

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

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	656.495.104
Subordinated loans	8812	.
Unsubordinated debentures	8822	.
Leasing and other similar obligations	8832	.
Credit institutions	8842	632.995.104
Other loans	8852	23.500.000
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	656.495.104
Amounts payable with a remaining term of more than five years
Financial debts ………………………………………………………………………………………………	8803	150.000.000
Subordinated loans	8813	.
Unsubordinated debentures	8823	.
Leasing and other similar obligations	8833	.
Credit institutions	8843	150.000.000
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	150.000.000

$F6.9$

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	865.395.104
Subordinated loans	8932
Unsubordinated debentures	8942	.
Leasing and similar obligations	8952	.
Credit institutions	8962	865.395.104
Other loans	8972	.
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	865.395.104

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	162.791
Estimated taxes payable	450	1.173.956
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	4.072.634

First - F2017 - 29 / 51

BE 0550.880.915

Nr.	BE 0550.880.915
			Period
	ACCRUALS AND DEFERRED INCOME
	Allocation of heading 492/3 of liabilities if the amount is significant
		Accrued charges interests	960 127

19.416 Commitment Fee .................................. ....................................... ...................... . . . . . . . . . . . . . . . . . . . . $\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\$

÷

	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 enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	71	66
Average number of employees calculated in full-time equivalents	9087	69.6	65,6
Number of actual worked hours	9088	118.369	111.734
Personnel costs
Remuneration and direct social benefits	620	9.636.571	6.900.147
Employers' contribution for social security	621	1.589.303	1.752.541
Employers' premiums for extra statutory insurance	622	763.231	630.582
Other personnel costs	623	554.883	689.640
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	-2.680.748
	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		98.989
	Uses and write-backs		9116	2.680.748
	Other operating charges
	Taxes related to operation		640	70.998	15.881
	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	0,5	1,1
	Number of actual worked hours		9098	997	2.069
	Costs to the enterprise		617	30.846	138.432

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
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		7.754.119	9.501.489
Realized gain hedging purchasing		0	4.036
Early Redemption Premium		9.180.334	4.007.874
IRS varation fee		0	317.171
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510	12.162.396	2.014.336
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		6.750.633	12.996.298
Less value realisation current asset (+)/(-)		1.015.572	0
(+)/(-) Early Redemption fee		0	5.937.500
(+)/(-) IRS varation fee		0	805.755
Factor fee (+)/(-)		100.351	343.074
Agency fee (+)/(-)		35.000	205.110
(+)/(-) Other financial costs		70.930	163.583

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76		594.594
Non-recurring operating income	(76A)		594.594
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilities and charges	7620
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8		594.594
Non-recurring financial income	(76B)
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
NON-RECURRING EXPENSES	66	5.883.096	3.298.663
Non-recurring operating charges	(66A)	5.867.569	3.291.163
Non-recurring depreciation of and 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	5.867.569	3.291.163
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)	15.527	7.500
Amounts written off financial fixed assets	661
Provisions for extraordinary financial liabilities and charges - Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668	15.527	7.500
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	1.430.475
Income taxes paid and withholding taxes due or paid	9135	1.430.475
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		467.724
Goodwill depreciation		29.699.728
Tax losses		11.664.505
Decrease tax provision		2.260.817
Less value own shares $\ldots$		13.177.967
Dividend received deduction		21.610.288

Impact of non recurring 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 Other deferred taxes representing assets	9141 9142	103.330.026 103.330.026
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	4.730.969	4.921.441
By the enterprise	9146	1.100.098	787.415
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	4.568.657	4.466.210
For withholding taxes on investment income	9148	10.128.708	14.822.499

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	1.694.930.678
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
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
	9172
Amount of registration
Pledging of goodwill - Amount of the registration	9182
Pledging of other assets - Book value of other assets pledged	9192
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	121.625.142
Currencies sold (to be delivered)	9216	121.625.142

$\overline{\phantom{0}}$

$\Gamma$

Nr.	BE 0550.880.915
			Period
		COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES
			.
			Period
		AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE

Brief description

Measures taken by the enterprise to cover the resulting charges

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

	Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT

Nr.	BE 0550.880.915		F 6.14
			Period
PURCHASE		COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR
		Stock options	33.474.042

	Period
NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES 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 Ontex Group NV has a factoring agreement with a financial institution for an amount of EUR 114.165.272 per December 31, 2018	0
The guarantees, included under code 9149, 9381 and 9391, are determined in accordance with the syndicate credit facilities agreement and were calculated on the equity of the Guarantor (Ontex Group NV) and the Co-guarantors (listed below)
Guarantors SFA Ontex Group NV (Belgium) Ontex BVBA (Belgium) Ontex CZ (Czech Republic) Ontex Mayen GmbH (Germany) Ontex Vertrieb Gmbh (Germany) Ontex Manufacturing (Italy Serenity Spa (Italy) Ontex Peninsular SA (Spain) Ontex ID SA (Spain) Ontex Retail UK Ltd (United Kingdom) Ontex Healthcare UK (United Kingdom)
Grupo P.I. Mabe, S.A. de C.V.I. (Mexico) Productos Internationales Mabe, S.A. de C.V. (Mexico)	0

	Period
OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which can not be quantified)

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	3.029.744.174	2.959.290.107
Participating interests	(280)	1.907.965.289	1.907.965.289
Subordinated amounts receivable	9271
Other amounts receivable	9281	1.121.778.885	1.051.324.818
Amounts receivable	9291	70.835.372	74.869.705
Over one year	9301
Within one year	9311	70.835.372	74.869.705
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	210.496.313	172.602.157
Over one year	9361	23.500.000	18.000.000
Within one year	9371	186.996.313	154.602.157
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of affiliated enterprises	9381	1.694.930.678	1.727.545.426
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391	1.774.415.769	1.523.031.663
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421	21.610.288	29.933.183
Income from current assets	9431	21.183.238	34.201.587
Other financial income	9441
Debt charges	9461	846.666	1.270.358
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		.
Participating interests	9263	.
Subordinated amounts receivable	9273	.	.
Other amounts receivable	9283	.	.
Amounts receivable ……………………………………………………………………………	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	.
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393	.
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	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
	.

$F$ 6.15

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
Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts
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	878.500
To former directors and former managers	9504

AUDITORS OR PEOPLE THEY ARE LINKED TO

	Codes	Period
Auditor's fees	9505	224.655
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	8.958
Tax consultancy	95062
Other missions external to the audit	95063	9.000
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	2.000
Other missions external to the audit	95083

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

Nr. F 6.18.1 BE 0550.880.915
------------------------------------

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

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 33% 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 $\sqrt{2}$
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

BE 0550.880.915

$Nr.$

On September 26, 2017 the Group entered into a syndicate credit facilities agreement in an amount

$F6.19$

IVI.	טו פ אס.טטט א		$\Gamma$ 0.15
		of 600,0 million (Syndicated Term Loan A) and a revolving credit facility (Syndicated Term Loan B)
		in an amount of up to 300,0 $\epsilon$ . At December 31, 2017 30,0 $\epsilon$ million of the senior revolving facility
was drawn.
		Furthermore the Group has also closed a term loan of 150,0 $\epsilon$ million due 2024. This agreement also
	includes an accordion option of 100,0 $\epsilon$ .
		Due to the new refinancing, the structure and content of the quarantees have changed.
		The old real quaranties were cleared by a general release agreement fulfilling all local
formalities.
		The new quarantees, included under code 9149, 9381 and 9391, are determined in accordance with the
		syndicate credit facilities agreement and were calculated on the equity of the Guarantor (Ontex
	Group NV) and the Co-quarantors (listed below)
Guarantors SFA
	Ontex Group NV (Belgium)
	Ontex BVBA (Belgium)
	Ontex CZ (Czech Republic)
	Ontex Mayen GmbH (Germany)
	Ontex Hygiëneartikel GmbH (Germany)
	Ontex Vertrieb Gmbh (Germany)
	Ontex Manufacturing (Italy
	Serenity Spa (Italy)
	Ontex Peninsular SA (Spain)
	Ontex ID SA (Spain)
	Ontex Retail UK Ltd (United Kingdom)
	Ontex Healthcare UK (United Kingdom)
	Grupo P.I. Mabe, S.A. de C.V.I. (Mexico)
	Productos Internationales Mabe, S.A. de C.V. (Mexico)
		Falcon Distribuicao, Armazenamento e Transporte SA (Brazil)

Active Industria de Cosméticos SA (Brazil)

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

• L, Ontex BVBA
• Eutima BVBA $\overline{a}$
• Ontema BVBA $\overline{a}$

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

With regard to note 6.16 of the annual report, code 9503 shows the amount that is in line with the remuneration report.

٦

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

MANAGEMENT REPORT

Nr.	BE 0550.880.915	F 10

SOCIAL BALANCE SHEET

Number of joint industrial committee: 200 .......... .......... .......... ..........

10

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE ENTERPRISE 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	67,3	45,6	21,7
Part-time	1002	3,1		3,1
Total in full-time equivalents	1003	69,7	45,6	24,1
Number of hours actually worked
Full-time	1011	114.511	78.140	36.371
Part-time	1012	3.857		3.857
Total	1013	118.368	78.140	40.228
Personnel costs
Full-time	1021	12.135.278	8.280.854	3.854.424
Part-time	1022	408.710		408.710
Total	1023	12.543.988	8.280.854	4.263.134
Advantages in addition to wages	1033	95.292	63.340	31.952

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	65,6	43,2	22,4
Number of hours actually worked	1013	111.734	74.209	37.525
Personnel costs	1023	9.972.909	6.623.585	3.349.324
Advantages in addition to wages	1033	88.872	60.072	28.800

EMPLOYEES FOR WHOM THE ENTERPRISE 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	69	3	71,4
By nature of the employment contract
Contract for an indefinite period	110	69	3	71,4
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	47		47,0
primary education	1200	1		1,0
secondary education	1201	3		3,0
higher non-university education	1202	18		18,0
university education	1203	25		25,0
Women	121	22	3	24,4
primary education	1210	1		1,0
secondary education	1211	2		2,0
higher non-university education	1212	4	2	5,6
university education	1213	15	1	15,8
By professional category
Management staff	130
Employees	134	69	3	71,4
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	0,5
Number of hours actually worked	151	997
Costs for the enterprise	152	30.846

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	11		11,0
By nature of employment contract
Contract for an indefinite period	210	11		11,0
Contract for a definite period	211
Contract for the execution of a specifically assigned work	212
Replacement contract	213

Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305	5	5,0
By nature of employment contract
Contract for an indefinite period	310	5	5,0
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	1	1,0
Other reason	343	4	4,0
the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

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	5		5,0
By nature of employment contract
Contract for an indefinite period	310	5		5,0
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	1		1,0
Other reason	343	4		4,0
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	11	5811	2
Number of actual training hours	5802	254	5812	12
Net costs for the enterprise	5803	38.777	5813	592
of which gross costs directly linked to training	58031	38.777	58131	592
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