Euronext - 2020 Universal Registration Document

Selected Historical Consolidated Financial Information, Other Financial Information and Unaudited Pro Forma Combined Financial Information

Other Financial Information

RECONCILIATION OF EBITDA, EBITDA MARGIN, EXCEPTIONAL ITEMS, OPERATING PROFIT BEFORE EXCEPTIONAL ITEMS EBITDA TO NET OPERATING CASH FLOW AND NET DEBT TO EBITDA RATIO

Year ended

In thousands of euros (except for percentages and ratios)

31/12/2020

31/12/2019

31/12/2018

Operating profit

444,942 (17,330) 462,272 (57,776) 520,048 884,318

333,873 (21,871) 355,744 (43,676) 399,420 679,108

309,376 (21,474) 330,850 (23,400) 354,250 615,033

Exceptional items (a)

Operating profit before exceptional items (a)

Depreciation and amortisation

Operating profit before exceptional items and depreciation and amortisation (EBITDA) (a)

TOTAL REVENUE EBITDA margin (a)

59%

59%

58%

NET CASH GENERATED BY OPERATING ACTIVITIES

277,988

253,771

223,512

EBITDA to Net operating cash flow (a)

53%

64%

63%

Non-current Borrowings

1,272,510

1,011,527

504,940

Current Borrowings

8,243

6,750

3,745

Less: Cash and cash equivalents

(629,469)

(369,822)

(398,018)

NET DEBT

651,284

648,455

110,667

Net debt to EBITDA ratio (a) 0.31 (a) EBITDA, EBITDA margin, Exceptional items, Operating profit before exceptional items, EBITDA ratio to Net operating cash flow and Net debt to EBITDA are non-IFRS measures and should not be considered as an alternative to, or more meaningful than, and should be read in conjunction with, Operating profit, Net cash generated by operating activities, Non-current Borrowings, Current Borrowings and Cash and cash equivalents. 1.25 1.62

5

RECONCILIATION OF FREE CASH FLOW AND CAPITAL EXPENDITURES

Year ended 31 December 2020 31 December 2019 31 December 2018

In thousands of euros

Net cash generated by operating activities Purchase of property, plant and equipment

277,988

253,771 (14,663)

223,512 (10,958)

(6,649)

Purchase of intangible assets (excluding intangible assets recognized on acquisition of subsidiaries)

(12,569) (19,218) 258,770

(11,394) (26,057) 227,714

(11,307) (22,265)

Capital Expenditures (a)

Free Cash Flow (a) 201,247 (a) Free Cash Flow and Capital Expenditures are non-IFRS measures and should not be considered as an alternative to, or more meaningful than, and should be read in conjunction with, Net cash generated by operating activities.

RECONCILIATION OF ADJUSTED NET INCOME AND ADJUSTED EPS

Year Ended 31 December 2020 31 December 2019 31 December 2018

In millions of euros unless stated otherwise

PROFIT ATTRIBUTABLE TO THE OWNERS OF THE PARENT

315.5

222.0

216.0

4.53

3.19

3.10 (7.4)

EPS (BASIC EARNINGS PER SHARE) (€ per share)

PPA adj. related to acquisitions

(21.0) (17.3)

(13.8) (21.9)

(21.5)

Exceptional items

Impairments

–

(6.0)

(1.5)

Revaluation of buy-options and deferred payments

–

(13.3)

(3.2)

TAX RELATED TO THOSE ITEMS

6.2

5.5

5.2

347.6

271.4

244.4

Adjusted net income (a)

ADJUSTED EPS (€ PER SHARE) (a) 3.51 (a) Adjusted net income and Adjusted EPS are non-IFRS measures and should not be considered as an alternative to, or more meaningful than, and should be read in conjunction with respectively, Profit attributable to the owners of the Parent and Basic Earnings per Share. 4.99 3.90

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2020 UNIVERSAL REGISTRATION DOCUMENT