Econocom - 2020 annual report

02 group overview

financial position and results

REVENUE 4.2.2.

2020

2019 restated*

2018 restated**

in € millions

Technology Management & Financing Services

913

1,135

1,321

Digital Services & Solutions

1,646

1,779

1,678

Total revenue

2,559

2,914

2,999

In accordance with IFRS 5, 2019 income and expenses of activities discontinued in 2020 are reclassified to the * income statements of 2019 under “Profit (loss) from discontinued operations”. 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) from 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.

For continuing operations, Econocom reported for financial year 2020 annual consolidated revenue of €2,559 million, down 12.2% (of which 11.3% on an organic basis). This performance was mainly due to the specific context of the 2020 marked by the global Covid-19 pandemic and the lockdown measures in the spring and autumn. Technology Management & Financing At 31 December 2020, Technology Management & Financing recorded revenue of €913 million compared with €1,135 million one year earlier, which is a decrease of 19.6%. This decline, linked to the uncertainties encountered by companies in the context of the global pandemic, affected all of the Group’s regions with the exception of France, which achieved sales performance close to that of last year.

This activity posted a decrease of 10% in revenue in 2019 due to the difficulties encountered by the Italian subsidiary and organic growth of 1.6% in 2018. Digital Services & Solutions Digital Services and Solutions posted revenue in 2020 of €1,646 million compared with €1,779 million in 2018, or a decrease of 8.0% (of which 7.5% in organic growth). Activity, which had slowed sharply in the second quarter due to the lockdown measures implemented in all European countries in which the Group operates, posted organic growth of nearly 4.7% last quarter of 2020. In 2019, the DSS business line generated revenue of €1,779 million, compared €1,678 million in 2017, up 6%.

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2020 annual report