Econocom - 2020 annual report

01. The essentials5
1. One Digital Company7
2. The Econocom Galaxy9
3. 2020 key figures10
4. Performance and share capital12
5. Governance14
02. Group overview17
1. Group history18
2. Group structure20
3. Group positioning22
3.1. The Technology Management & Financing activity23
3.2. Products & Solutions24
3.3. Services27
3.4. Digital solutions offered by Econocom Satellites29
3.5. Combination of Planet and Satellite know-how40
4. Financial position and results42
4.1. Highlights of the past three years42
4.2. Consolidated data for the year: comparison between 2020, 2019 and 201843
4.3. Equity restrictions46
5. Corporate Governance47
5.1. Board of Directors and Advisory Committees47
5.2. Conflicts of interest59
5.3. Biographies of Directors60
6. Research & Development63
7. Principal investments64
7.1. In 201864
7.2. In 201965
7.3. In 202065
8. Additional information65
8.1. Legal and arbitration proceedings65
8.2. Major contracts65
03. Corporate social responsibility67
Our approach68
CSR stakes and mission68
The organisation68
Our roadmap69
Actions and highlights69
References and standards69
Labels and certifications69
Commitments to the SDG (Sustainable Development Goals)70
Major aims and achievements71
1. Nurture our excellence through responsible commitment72
1.1. Position ourself as a committed employer72
1.2. Conduct a demanding environmental policy82
1.3. Be an ethical and responsible player85
2. Support the new responsible uses of our customers and users88
2.1. Develop our offer of green and responsible products and services88
2.2. Promote responsible digital business and the circular economy89
2.3 Monitoring our consumption92
3. Federate an ecosystem to create shared value94
3.1. Partnerships in the education and university sector94
3.2. Become the partner of choice for innovative companies and integrate them into our offers98
3.3. Develop our local roots99
4. Key performance indicators102
04. Risk factors103
1. Operational risks104
1.1. Risks associated with Services contracts104
1.2. Risk of sub-contractor default104
1.3. Risks associated with price fluctuations and hardware obsolescence105
1.4. Risks associated with competition105
1.5. Employee-related risks105
1.6. Environmental risks105
1.7. Insurance against risk105
1.8. Pledges, guarantees, collateral provided and borrowings106
1.9. Risks related to external growth106
2. Regulatory risk106
2.1. Legal risks106
2.2. Risks associated with tax inspections106
2.3. Risks associated with regulations applicable to lessors’ leasing businesses107
2.4. Risks associated with regulations applicable toTechnology Management & Financing clients107
3. Dependency risk107
3.1. Dependence on refinancing institutions107
3.2. Customer dependency risk107
3.3. Supplier dependency risk108
3.4. Technology dependency risk108
4. Financial risk108
4.1. Market risk108
4.2. Credit and ounterparty risk109
4.3. Equity risk110
05. Management report111
Management Report of the Boardof Directors on the financial statements112
1. Group’s financial position and highlights112
1.1. Changes in the scope for the year113
1.2. Principal investments113
1.3. Financing transaction113
1.4. Research114
2. Profit for the year114
2.1. Income statement114
2.2. Statement of financial position119
2.3. Parent company 2020 financial statements of Econocom group SE123
3. Risk factors and disputes127
4. Outlook for 2021 and shareholders’ compensation127
5. Corporate governance statement128
5.1. Applicable Corporate Governance Code128
5.2. Exemptions from the 2020 Code128
5.3. Description of internal control and risk management procedures in the context of the preparation of the financial information129
5.4. Ownership structure and limits on shareholder rights131
5.5. The composition and functioning of the administrative bodies and Committees132
5.6. Composition of advisory bodies138
5.7. 2020 Compensation report138
5.8. Appropriation of profit and dividend policy144
5.9. Relations with major shareholders144
5.10. Econocom group employee share ownership144
5.11. Statutory Auditor’s fees147
5.12. Treasury shares147
6. Subsequent events148
06. Consolidated financial statements149
1. Consolidated income statement and earning per share150
2. Consolidated statement of financial position152
3. Consolidated statement of changes in equity154
4. Consolidated statement of cash flows156
5. Notes to the consolidated financial statements158
07. Shareholders259
1. Share performance and shareholders260
1.1. Econocom group SE share performance260
1.2. Name, registered office and legal form262
1.3. Corporate Purpose (article 3 of the Bylaws)262
1.4. Share capital263
1.5. Rights attached to shares266
1.6. General Meetings270
1.7. Provisions that could delay, defer or prevent a change in control of the Company273
1.8. Notifications of major shareholdings274
1.9. Econocom’s largest shareholder275
08. Statutory auditor’s report on the consolidated financial statements277
Statutory auditor’s report to the general shareholders’ meeting on the consolidated accounts278
Report on the consolidated accounts278
Other legal and regulatory requirements283
09. Chairman’s statement285
10. Condensed parent company financial Statements287
1. Parent company statement of financial position288
2. Parent company income statement290
3. Parent company statement of cash flows292
11. Key consolidated figures295

Made with FlippingBook - Online catalogs