FINANCIAL REPORT 2013

• 2.6.9. Income tax expense 2.6.9.1. Tax expense

(in thousands of euros)

31.12.2013

31.12.2012

Current tax expense

68 384

73195

Deferred tax expense

– 13 502

29205

TAX EXPENSE FOR THE PERIOD

54 882

102399

2.6.9.2. Reconciliation of theoretical tax rate and effective tax rate

31.12.2013

Base

Tax rate

Tax

(in thousands of euros)

Income before tax, goodwill impairment, discontinued operations and share of profit in equity- accounted entities

234 434

38.00%

89 085

Impact of permanent differences

4 990

Impact of different tax rates on foreign subsidiaries

– 14 890

Impact of losses of the year, utilisation of tax loss carryforwards and temporary differences

697

Impact of reduced tax rate

– 24 807

Impact of other items

– 193

EFFECTIVE TAX RATE AND TAX EXPENSE

23.41% 54 882

31.12.2012

Base

Tax rate

Tax

(in thousands of euros)

Income before tax, goodwill impairment, discontinued operations and share of profit in equity- accounted entities

282355

36.10% 101931

Impact of permanent differences

1769

Impact of different tax rates on foreign subsidiaries

– 14316

Impact of losses of the year, utilisation of tax loss carryforwards and temporary differences

42440

Impact of reduced tax rate

– 29817

Impact of other items

392

EFFECTIVE TAX RATE AND TAX EXPENSE

36.27% 102399

25