History Note 32

Notes to the Consolidated Financial Statements

1. Basic information and principles of the report

2. Changes in Group structure

3. Summary of significant accounting policies

4. Risk assessment and management

5. Management of capital

6. Trade accounts receivable

7. Other current assets and current financial assets

8. Inventories

9. Property, plant and equipment

10. Other non-current assets and non-current financial assets

11. Goodwill and intangible assets

12. Short-term debt

13. Other current liabilities and provisions

14. Long-term debt

15. Financial instruments

16. Retirement benefit plans

17. Participation plans

18. Deferred tax assets and liabilities

19. Other non-current liabilities and provisions

20. Contingencies

21. Capital stock and treasury shares

22. Earnings per share

23. Other operating expenses, net

24. Financial result, net

25. Income tax expenses

26. Operating Leasing

27. Research and development cost

28. Cashflow figures

29. Segment reporting

30. Related party transactions

31. Foreign exchange rates

32. Subsequent events

On 7 March 2018, the board of directors approved the new brand strategy. This strategy foresees, that some of the former Sanitec trademarks will be integrated into the Geberit trademark (see Note 11) in the respective markets. Consequently, the affected trademarks will no longer have an indefinite useful life but a finite useful life causing annual amortisation over the remaining useful life of each individual trademark. The effect on the income statement is currently under review. Based on the analysis performed so far the impact is not expected to be material.

The consolidated financial statements are subject to approval by the General Meeting and were released for publication by the Board of Directors on 12 March 2018.

33. Group companies as at 31 December 2017