Econocom - 2020 annual report

First page Table of contents Next page Last page

01. The essentials	5
1. One Digital Company	7
2. The Econocom Galaxy	9
3. 2020 key figures	10
4. Performance and share capital	12
5. Governance	14
02. Group overview	17
1. Group history	18
2. Group structure	20
3. Group positioning	22
3.1. The Technology Management & Financing activity	23
3.2. Products & Solutions	24
3.3. Services	27
3.4. Digital solutions offered by Econocom Satellites	29
3.5. Combination of Planet and Satellite know-how	40
4. Financial position and results	42
4.1. Highlights of the past three years	42
4.2. Consolidated data for the year: comparison between 2020, 2019 and 2018	43
4.3. Equity restrictions	46
5. Corporate Governance	47
5.1. Board of Directors and Advisory Committees	47
5.2. Conflicts of interest	59
5.3. Biographies of Directors	60
6. Research & Development	63
7. Principal investments	64
7.1. In 2018	64
7.2. In 2019	65
7.3. In 2020	65
8. Additional information	65
8.1. Legal and arbitration proceedings	65
8.2. Major contracts	65
03. Corporate social responsibility	67
Our approach	68
CSR stakes and mission	68
The organisation	68
Our roadmap	69
Actions and highlights	69
References and standards	69
Labels and certifications	69
Commitments to the SDG (Sustainable Development Goals)	70
Major aims and achievements	71
1. Nurture our excellence through responsible commitment	72
1.1. Position ourself as a committed employer	72
1.2. Conduct a demanding environmental policy	82
1.3. Be an ethical and responsible player	85
2. Support the new responsible uses of our customers and users	88
2.1. Develop our offer of green and responsible products and services	88
2.2. Promote responsible digital business and the circular economy	89
2.3 Monitoring our consumption	92
3. Federate an ecosystem to create shared value	94
3.1. Partnerships in the education and university sector	94
3.2. Become the partner of choice for innovative companies and integrate them into our offers	98
3.3. Develop our local roots	99
4. Key performance indicators	102
04. Risk factors	103
1. Operational risks	104
1.1. Risks associated with Services contracts	104
1.2. Risk of sub-contractor default	104
1.3. Risks associated with price fluctuations and hardware obsolescence	105
1.4. Risks associated with competition	105
1.5. Employee-related risks	105
1.6. Environmental risks	105
1.7. Insurance against risk	105
1.8. Pledges, guarantees, collateral provided and borrowings	106
1.9. Risks related to external growth	106
2. Regulatory risk	106
2.1. Legal risks	106
2.2. Risks associated with tax inspections	106
2.3. Risks associated with regulations applicable to lessors’ leasing businesses	107
2.4. Risks associated with regulations applicable toTechnology Management & Financing clients	107
3. Dependency risk	107
3.1. Dependence on refinancing institutions	107
3.2. Customer dependency risk	107
3.3. Supplier dependency risk	108
3.4. Technology dependency risk	108
4. Financial risk	108
4.1. Market risk	108
4.2. Credit and ounterparty risk	109
4.3. Equity risk	110
05. Management report	111
Management Report of the Boardof Directors on the financial statements	112
1. Group’s financial position and highlights	112
1.1. Changes in the scope for the year	113
1.2. Principal investments	113
1.3. Financing transaction	113
1.4. Research	114
2. Profit for the year	114
2.1. Income statement	114
2.2. Statement of financial position	119
2.3. Parent company 2020 financial statements of Econocom group SE	123
3. Risk factors and disputes	127
4. Outlook for 2021 and shareholders’ compensation	127
5. Corporate governance statement	128
5.1. Applicable Corporate Governance Code	128
5.2. Exemptions from the 2020 Code	128
5.3. Description of internal control and risk management procedures in the context of the preparation of the financial information	129
5.4. Ownership structure and limits on shareholder rights	131
5.5. The composition and functioning of the administrative bodies and Committees	132
5.6. Composition of advisory bodies	138
5.7. 2020 Compensation report	138
5.8. Appropriation of profit and dividend policy	144
5.9. Relations with major shareholders	144
5.10. Econocom group employee share ownership	144
5.11. Statutory Auditor’s fees	147
5.12. Treasury shares	147
6. Subsequent events	148
06. Consolidated financial statements	149
1. Consolidated income statement and earning per share	150
2. Consolidated statement of financial position	152
3. Consolidated statement of changes in equity	154
4. Consolidated statement of cash flows	156
5. Notes to the consolidated financial statements	158
07. Shareholders	259
1. Share performance and shareholders	260
1.1. Econocom group SE share performance	260
1.2. Name, registered office and legal form	262
1.3. Corporate Purpose (article 3 of the Bylaws)	262
1.4. Share capital	263
1.5. Rights attached to shares	266
1.6. General Meetings	270
1.7. Provisions that could delay, defer or prevent a change in control of the Company	273
1.8. Notifications of major shareholdings	274
1.9. Econocom’s largest shareholder	275
08. Statutory auditor’s report on the consolidated financial statements	277
Statutory auditor’s report to the general shareholders’ meeting on the consolidated accounts	278
Report on the consolidated accounts	278
Other legal and regulatory requirements	283
09. Chairman’s statement	285
10. Condensed parent company financial Statements	287
1. Parent company statement of financial position	288
2. Parent company income statement	290
3. Parent company statement of cash flows	292
11. Key consolidated figures	295

Made with FlippingBook - Online catalogs