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Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 9. Goodwill
■
■
Sensitivity of recoverable amounts
December 31, 2014
Discount rate
Perpetual growth rate
Discounted cash flows
Applied
rate
(in %)
Increase in the discount rate
in order for the recoverable
amount to be equal
to the carrying amount
(in number of points)
Applied
rate
(in %)
Decrease in the perpetual
growth rate in order for the
recoverable amount to be
equal to the carrying amount
(in number of points)
Decrease in the discounted
cash flows in order for the
recoverable amount to be
equal to the carrying amount
(in %)
Canal+ Group
Pay-TV and free-to-air TV in
France, Africa and Vietnam
(a)
+0.28 pt
(b)
-0.39 pt
-4%
nc+
9.75%
+6.31 pts 3.00%
-10.25 pts
-49%
Studiocanal
9.75%
+1.66 pt
1.00%
-2.57 pts
-18%
Universal Music Group
8.90%
+0.62 pt
1.00%
-0.77 pt
-8%
December 31, 2013
Discount rate
Perpetual growth rate
Discounted cash flows
Applied
rate
(in %)
Increase in the discount rate
in order for the recoverable
amount to be equal
to the carrying amount
(in number of points)
Applied
rate
(in %)
Decrease in the perpetual
growth rate in order for the
recoverable amount to be
equal to the carrying amount
(in number of points)
Decrease in the discounted
cash flows in order for the
recoverable amount to be
equal to the carrying amount
(in %)
Canal+ Group
Pay-TV in Mainland France
and Canal+ Overseas
(c)
+0.23 pt
(d)
-0.32 pt
-3%
Free-to-air TV
9.50%
+1.84 pt
2.00%
-2.74 pts
-21%
Studiocanal
9.00%
+2.19 pts 0.00%
-3.53 pts
-21%
Universal Music Group
9.15%
+2.25 pts 1.00%
-2.98 pts
-22%
GVT
11.24%
+1.26 pt
4.00%
-2.57 pts
-20%
SFR
7.30%
(e)
0.50%
(e)
(e)
(a)
Pay-TV – Mainland France: 8.04%; France overseas: 9.04%; Africa: 10.04%; Vietnam: 10.88%.
Free-to-air TV: 9.5%.
(b)
Pay-TV – Mainland France: 1.5%; France overseas: 1.5%; Africa: 3.14%; Vietnam: 4.5%.
Free-to-air TV: 2%.
(c)
Pay-TV – Mainland France: 8.3%; France overseas: 9.3%; Africa: 10.3%.
Free-to-air TV: 2%.
(d)
Pay-TV – Mainland France: 1.5%; France overseas: 2.2%; Africa: 3.17%.
Free-to-air TV: 2%.
(e)
SFR was sold on November 27, 2014 (please refer to Note 3.1).
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Annual Report 2014