DERICHEBOURG - Universal registration document 2019-2020

03

GROUP MANAGEMENT REPORT

Significantevents duringthe fiscal year 3.1

91

3.1.1

Acquisition of thLeyrsaGroup(renamed DerichebouErgspañaon

September 1, 2020)

91 91 93

Covid-19health crisisand economiconsequences 3.1.2

3.1.3

First-timeadoption oIfFRS

16

Strategicpartnership witShaur forservices tolocalgovernmentisn thewater 3.1.4 and sanitation sector

93

Earnings frombusinessesand financialposition 3.2

94

Groupresults 3.2.1

94 96 99

Environmental Servicaecstivity 3.2.2 TheMultiservices business 3.2.3 TheHoldingcompaniesbusiness 3.2.4

101 102 103 105

Outlook 3.2.5

Financing andchanges inindebtedness 3.2.6

Investments 3.2.7

Risk factors 3.3

106

Riskanalysisandmonitoring process 3.3.1

106 107 109 112

Overviewof principal risksidentified andtheriskmanagemenstystem 3.3.2

Theinternalcontrolsystem 3.3.3

Insurance 3.3.4

Shareholderstructure andthreshold crossing 3.4

113

Shareholder structure 3.4.1 Threshold crossing 3.4.2

113 114 114

Analysis otfheshare capitabl y type of shareholder 3.4.3

DERICHEBOURG p 2019/2020 Universal Registration Document 89