Vetoquinol - Universal Registration Document - 2021

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements Vetoquinol Universal Registration Document 2020 Financial report 81 6 6.5.12 Share-based payments – bonus shares At December 31, 2019, there were no stock options or bonus share plans. During 2020, a new bonus share plan was implemented; the impact of applying IFRS 2 amounted to €115,000 over the year. The value of bonus shares is usually determined on the basis of the share price on their date of issue, less the present value of divi- dends foregone during the vesting period (Black-Scholes valuation model). 6.5.13 Other operating income and expenses €000 2020 2019 Operating grants 160 15 Investment grants transferred to income for the year - 8 Gains on asset sales 180 678 Research tax credit (Crédit d’Impôt Recherche - CIR) 3,243 3,839 Other income 1,286 1,504 OTHER OPERATING INCOME 4,869 6,043 Book values of assets sold (408) (836) Other expenses (1,164) (646) OTHER OPERATING EXPENSES (1,572) (1,483) TOTAL 3,297 4,560 Other expenses included bad debt losses of €0.5 million. In 2019, other expenses included bad debt losses of €0.3 million. Other income consists of: €000 2020 2019 Fees and royalties - - Freight costs passed on to customers 466 362 Compensation received 35 53 Social security refunds - - Other 785 1,089 TOTAL 1,286 1,504 6.5.14 Non-recurring operating income and expenses €000 2020 2019 Revaluation of PUT/CALL option (Farmvet Systems) 802 - Non-recurring operating income 802 - Impairment of intangible assets (France) - (3,502) Impairment of intangible assets (Canada) (408) - Goodwill impairment (18,618) - Restructuring costs (Italy) (505) (1,516) Restructuring costs (Brazil) (340) - Other non-recurring operating expenses (19,871) (5,018) TOTAL (19,069) (5,018)