Econocom - 2020 annual report
06 consolidated financial statements
notes to the consolidated financial statements
CREATION OF COMPANIES 2.2.3. There was no significant company creation in 2020. ASSETS/LIABILITIES 2.2.4. CLASSIFIED AS HELD FOR SALE, DISCONTINUED OPERATIONS In 2020, the Board of Directors updated the list with some non-strategic activities and entities intended to be discontinued or disposed of. Consequently, the financial statements at December 2019 have been restated in order to ensure comparability of periods, reclassifying the 2019 Profit (loss) of
these entities as “Net income from discontinued operations” in accordance with IFRS 5. Impacts on the income statement and statement of cash flows The net income from these activities is presented on a distinct line of the income statement, under “Net income from discontinued operations”. In accordance with IFRS 5, comparative figures are restated. The application of IFRS 5 impacts the 2020 and 2019 consolidated income statements as follows:
2020
2019
in € millions
Revenue from continuing operations
(97.2) 95.8 (1.4) (3.0) (4.4)
(173.8)
Operating expenses*
177.4
Profit (loss) from current operating activities Other non-recurring operating income and expenses
3.6 6.4
Profit (loss) from operating activities Other financial income and expenses
10.0
0.4
4.1
Profit (loss) before tax Income tax expense
(4.0)
14.1 (2.7)
3.3 0.7
Profit (loss) from discontinued operations (11.4) In accordance with IFRS 5, property, plant and equipment was not amortised, amortisations which would have * represented €8.8 million in 2020, versus €7.2 million in 2019.
Cash flows from discontinued operations restated. The application of IFRS 5 impacts are also presented on a separate line of the 2020 and 2019 consolidated cash flow the statement of cash flows. In accordance tables as follows: with IFRS 5, comparative figures are in € millions 2020 2019 Net cash flows from (used in) operating activities 4.3 10.1 Net cash from (used in) investing activities (7.7) 1.2 Net cash from (used in) financing activities (0.6) 0.2 Impact of change in exchange rate 0.1 (0.2) Net cash from (used in) discontinued operations 3.9 (11.4)
168
2020 annual report
Made with FlippingBook - Online catalogs