Econocom - 2019 Universal registration document

05 management report rofit for the year

KEY FIGURES BY GEOGRAPHICAL AREA 2.1.2. Revenue breaks down as follows:

Change based on like-for-like standards

2018 restated (1)

2019

in € ڳ millions

1,545

1,510

4.6% (1.1%)

France

391

395

Benelux

529

621

(10.5%)

Southern Europe/Morocco

261

265 207

7%

Northern and Eastern Europe

200

(3.2%) 0.0%

Americas

Total revenue

2,927

2,999

Before amortisation of intangible acquisition assets. (1)

The increase in France stemmed from the good performance in the Digital Services & instead of Solutions business lines, which offset the slight decline in Technology Management & Financing. Contraction in the Benelux area was driven mainly by Technology Management & Financing in the Netherlands, despite strong performance by the DSS business. 2019 Southern Europe turnover of €528.6 million breaks down as €306.4 million for Italy and €222.2 million for Spain. In 2018 the corresponding figures were €397.9 million for Italy and €201.4 million for Spain (after an IFRS 16 restatement of €21.9 million).

Restated for the fall in revenue of TMF in Italy, organic growth in Southern Europe and Morocco is estimated at about 10% thanks to good performances in Spain and of the DSS activity in Italy. Northern and Eastern Europe recorded slight organic growth on a like for like basis, essentially thanks to the Technology Management & Financing activity in the United Kingdom. The Americas region fell back slightly after two years of very strong growth, thanks primarily to major Technology Management & Financing contracts.

115

2019 annual report