DECLARATION BY THE PERSON RESPONSIBLE FOR THE INTERIM FINANCIAL REPORT STATUTORY AUDITORS’ REPORT ON THE INTERIM FINANCIAL STATEMENTS MANAGEMENT REPORT HALF-YEAR FINANCIAL STATEMENTS CONDENSED INTERIM CONSOLIDATED Notes to the consolidated statement of financial position 26 AXWAY - 2021 INTERIM FINANCIAL REPORT www.axway.com Notes to the consolidated statement of financial position Goodwill Note 12 Changes in goodwill 12.1 Movements in the first half of the year were as follows: (in thousands of euros) Gross value Impairment Net 31 December 2020 338,958 8,652 330,306 Acquisitions - - - Translation adjustments 7,024 -14 7,038 30 June 2021 345,981 8,638 337,343 Exchange rate impacts on goodwill mainly concern fluctuations in the euro against the US dollar for €7.2 million. Impairment tests 12.2 At 30 June 2021, the market value of the Axway Group on Euronext is €610.4 million, in excess of consolidated shareholders’ equity at the same date of €359.6 million. Pursuant to IAS 36, Impairment of assets, it is not therefore necessary to determine Axway’s value in use at 30 June 2021. health crisis and the absence of any indication of impairment, the Group considered it was not necessary to conduct impairment tests at 30 June 2021. Due to current uncertainties, the Group paid particular attention when performing estimates and judgements for asset impairment purposes. Given its performance, with revenue and cash flows in line with business plan objectives in H1 2021, past experience with respect to the impacts of the For information purposes, Axway’s value in use was determined at 31 December 2020 to comply with AMF recommendations in the context of the COVID-19 crisis. This impairment test was conducted using the discounted cash flow method and Axway was valued at €723.4 million. At 30 June 2021, the Group retained this valuation of €723.4 million and the key assumptions adopted at 31 December 2020.
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