Euronext // 2021 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 31 December 2021 31 December 2020 31 December 2019
In thousands of euros (except for percentages and ratios)
Operating profit
579,291 (47,806) 627,097 (125,747) 752,844 1,298,655
444,942 (17,330) 462,272 (57,776) 520,048 884,318
333,873 (21,871) 355,744 (43,676) 399,420 679,108
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 AND INCOME
EBITDA margin (a)
58.0%
58.8%
58.8%
NET CASH GENERATED BY OPERATING ACTIVITIES
543,706
277,988
253,771
EBITDA to net operating cash flow (a)
72.2%
53.5%
63.5%
Non-current Borrowings
3,044,391
1,272,510
1,011,527
Current Borrowings
17,359
8,243
6,750
Less: Cash and cash equivalents
(804,361) 2,257,389
(629,469) 651,284
(369,822) 648,455
NET DEBT
Net debt to EBITDA ratio (a) 1.62 (a) EBITDA, EBITDA margin, Exceptional items, Operating profit before exceptional items, EBITDA to Net operating cash flow and Net debt to EBITDA ratio 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. 3.00 1.25
5
RECONCILIATION OF FREE CASH FLOW AND CAPITAL EXPENDITURES
Year ended 31 December 2021 31 December 2020 31 December 2019
In thousands of euros
Net cash generated by operating activities Purchase of property, plant and equipment
543,706 (33,367)
277,988
253,771 (14,663)
(6,649)
Purchase of intangible assets (excluding intangible assets recognised on acquisition of subsidiaries)
(34,223) (67,590) 476,116
(12,569) (19,218) 258,770
(11,394) (26,057)
Capital expenditures (a)
Free cash flow (a) 227,714 (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 2021 31 December 2020 31 December 2019
In millions of euros (unless stated otherwise)
Profit attributable to the owners of the Parent EPS (Basic Earnings per Share) (a) (€ per share)
413.3
315.5
222.0
4.30
4.14
2.92
PPA adj. related to acquisitions
(64.3) (47.8)
(21.0) (17.3)
(13.8) (21.9)
Exceptional items
Impairments
(4.3)
—
(6.0)
Exceptional financing expenses
(8.9)
— —
—
Revaluation of buy-options and deferred payments
—
(13.3)
Tax related to those items Adjusted Net Income (b) Adjusted EPS (b) (€ per share)
24.4
6.2
5.5
514.2
347.6
271.5
5.35
4.57
3.57
(a) The EPS of 2020 and 2019 were retrospectively adjusted for the bonus element that was embedded in the rights issue (see Chapter 8 - Financial Statements, Note 27). (b) 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.
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2021 UNIVERSAL REGISTRATION DOCUMENT
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