Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 379

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 379
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 EUROAPI operations do not constitute a discontinued operation under IFRS 5, the contribution from EUROAPI has not been presented within separate line items in the income statement and statement of cash flows or in information for prior comparative periods. The contribution of EUROAPI operations to the consolidated net sales of Sanofi in the year ended December 31, 2021 was € 486 million. The principal consequences of the deconsolidation of EUROAPI are described below: • the derecognition of the carrying amount of all the assets and liabilities of EUROAPI, representing a net amount of € 1,227 million as of May 10, 2022. This includes goodwill of € 164 million, determined in accordance with IAS 36 (“Impairment of Assets”), which was historically allocated to the Pharmaceuticals cash generating unit (CGU), and which for the purposes of the deconsolidation was allocated using an alternative method based on the relative values of goodwill as of the date of consolidation (the “notional goodwill method”). That method was considered more appropriate to the capital-intensive nature of EUROAPI operations than the method based on the relative values of EUROAPI operations and the retained portion of the CGU; • a reduction in Equity attributable to equity holders of Sanofi reflecting the distribution in kind, measured at € 793 million based on the weighted average price of € 14.58 per share as of the date of delivery of the EUROAPI shares to Sanofi shareholders and corresponding to the fair value of the distribution in accordance with IFRIC 17 (Distribution of Non-Cash Assets to Owners); • a cash inflow of € 150 million from the divestment of 12% of the share capital of EUROAPI to EPIC Bpifrance as of the settlement date of the shares, i.e. June 17, 2022; • the recognition in the balance sheet within the line item Investments accounted for using the equity method , of the retained 30.1% equity interest in EUROAPI at an amount of € 413 million, determined on the basis of the weighted average price of € 14.58 per share and representing the fair value of the equity interest in accordance with IFRS 10; • the reclassification within the net gain/loss on deconsolidation of unrealized foreign exchange losses amounting to € 35 million arising on EUROAPI subsidiaries, in accordance with IAS 21 (The Effects of Changes in Foreign Exchange Rates); • the recognition of transaction-related costs