EXEL Industries // 2020 Universal registration document

Management report 3

Company operations, consolidated and parent company fi nancial statements

These licensing contractswere introduced as of September 2014 and, where necessary, replace the previous contracts dating from 1994. The EXEL Industries group has no license granted by a third party and therefore does not pay royalty fees.

As our industrial property policy is extended to our international subsidiaries, the Group’s licensing policy is being applied to all our subsidiaries, with a single 1.5% royalty rate for patents and 1% for trademarks and models.

Company operations, consolidated and parent company financial statements

3.4

EXEL Industries has continued its two activities:  managing and coordinating its direct subsidiaries, all more than 95% owned;  managing and supervising its portfolio of patents, trademarks, designs and models for which it grants operating licenses.

3.4.1 Consolidated fi nancial statements – Main consolidated data

09/30/2019

09/30/2020

(in € millions)

Equity attributable to owners of the parent before appropriation of income

341.5

358.9

Goodwill

63.0

65.2

Net assets (excluding goodwill)

182.6

154.4

Cash and cash equivalents

99.3

89.0

Financial debt (current and non-current)

186.9

150.8

Provisions for contingencies and expenses (current and non-current)

56.9

63.6

SALES (EXCLUDING VAT)

754.4

776.7

Current operating income (EBIT)

35.3

32.8

Non-recurring income/(expenses)

(29.9)

(22.1)

Of which impairment of goodwill

(26.3)

-

Operating pro fi t

5.4

10.7

Financial income/(expenses)

(11.1)

(1.1)

Net income from consolidated operations

(10.7)

4.1

Net income attributable to the equity holders of the parent before appropriation

(10.7)

4.1

Operating cash fl ows (in euros)

33.4

30.4

Consolidated net income per share

(1.6)

0.6

Cash fl ow per share

4.9

4.5

EXEL Industries group I 2020 Universal Registration Document 24