Econocom - 2019 Universal registration document

02 group overview

financial position and results

REVENUE 4.2.2.

2019

2018 restated*

2017

in € ڳ million

Technology Management & Financing Services Digital Services & Solutions Total revenue

1,124

1,321

1,379

1,802

1,678

1,255

2,927 2,634 In accordance with IFRS 5, 2018 income and expenses of activities discontinued in 2019 are reclassified to the * income statements of 2018 under "Profit (loss) of discontinued operations". However, in accordance with the provisions of IFRS 16, which came into force on 1 January 2019, the 2018 data is not restated for the impact of this regulation on leases. In addition, the 2018 consolidated income statement is impacted by the recognition henceforth on the principal basis (within the meaning of IFRS 15) of direct deliveries. 2,999

For continuing operations, Econocom reported for financial year 2019 annual consolidated revenue of €2,926 ژ million equal to €2,927 ژ million at constant standards earned in 2018. Restated for the fall in revenue by TMF in Italy, growth reached 4.5% (3.7% organically). This performance was driven by the good performance of Digital Services & Solutions, which contributed €1,802.4 ژ million to consolidated 2019 revenue, with organic growth up 6.2%. Technology Management & Financing At 31 ژ December 2019, Technology Management & Financing recorded revenue of €1,124 ژ million compared with €1,321 ژ million one year earlier, which is a decrease of 10%. This decline is related to the lesser contribution by the subsidiary TMF in Italy for around €134 ژ million. Excluding this effect, growth would have been 0.6% in 2019.

Revenue for this segment increased by 1.6% in 2018, mainly owing to organic growth, recording an increase of 9.5% on 2017. Digital Services & Solutions Digital Services and Solutions posted revenue in 2019 of €1,802 ژ million compared with €1,678 ژ million in 2018, or an increase of 7.4% (6.2% organic growth). This activity continued to grow with major plans for IT equipment for high schools and large local authorities in France. In 2017, the Services business posted revenue of €902 ژ million, an increase of 12.5% thanks to the increasing number of major outsourcing contracts. Products & Solutions reported revenue of €353 ژ million; much of this growth was achieved in France, Belgium and the Netherlands following the acquisition of the BIS group at the beginning of the year. Products & Solutions posted revenue of €448 ژ million in 2018, reflecting a strong growth rate of 26.7%, with organic growth of 9.4%.

44

2019 annual report