Econocom - 2020 annual report
05 management report profit for the year
KEY FIGURES BY BUSINESS 2.1.1. Revenue and profit (loss) from current operating activities * can be broken down by business as follows: Revenue
Change based on like-for-like standards
2019 restated (1)
Like-for-like change
2020
in € millions
Technology Management & Financing
913
1,135
(19.6%)
(19.6%)
1,646 2,559
1,779 2,914
(7.5%)
(5.9%)
Digital Services & Solutions
Total revenue (11.3%) In accordance with IFRS 5, 2019 income and expenses of operations considered discontinued in 2020 are (1) reclassified to “Profit (loss) from discontinued operations” in the 2019 income statement. (12.2%)
Profit (loss) from continuing operations (2)
Profit (loss) from continuing operations (as a% of 2019 revenue)
Profit (loss) from continuing
Total change
operations (as a% of 2019 revenue)
2020 2019 restated (1)
in € millions
Technology Management & Financing
37.0 44.0 (15.8%)
4.1% 3.9%
85.5
83.6
2.1%
5.2% 4.7%
Digital Services & Solutions
Profit (loss) from current operating activities (2)
122.5 127.6 (4.1%)
4.8% 4.4%
In accordance with IFRS 5, 2019 income and expenses of operations considered discontinued in 2020 are (1) reclassified to “Profit (loss) from discontinued operations” in the 2019 income statement. Before amortisation of intangible assets from acquisitions. (2) At 31 December 2020, Technology
compared to €1,779 million in 2019. Net of changes in exchange rates and scope of consolidation,the organicdecreasewas -5.9% and is attributableto thehealthandeconomic crisis which has been affecting the entire Europeancontinentsince the spring of 2020. However,the fourthquartersawrevenuegrow by 4.7% compared to the fourth quarter of 2019. Business benefited from the need of companies and public institutions for equipment, which supported the "Products and Solutions"activity, thereby offsettingthe deliverydelays for certainprojects.Profit (loss) from continuing * operationswas €85.5 million comparedwith€83.6 millionthepreviousyear, despite the disposals of Digital Security in October 2020 and Rayonnancein December 2019. This improvementis the result of cost reduction measuresimplemented since2019.
Management& Financingposted revenue of €913 million, a decrease of 19.6% due mainly to the effects of the health crisis. Despite this pandemic and its consequences on the business climate and economic activity in Europe and the United States, some regions proved more resilient, particularly France. Conversely, the Group’s American subsidiary suffered from delays in the conclusion of certain significant contracts. Recurring operating income from this activity was €37.0 million,comparedwith €44.0million in 2019. This change was due mainly to the reducedbusiness,whereas the profitabilityof this activityimproved slightly. The Digital Services & Solutionsbusiness line reported revenue of €1,646 million in 2020
Before amortisation of intangible assets from acquisitions. *
117
2020 annual report
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