NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Consolidated financial statements

Neopost’s income breaks down by division as follows:

Enterprise Digital Solutions

Neopost Shipping

SME Solutions Eliminations Innovation

31 January 2018

Total sales

135.9

57.2

941.6

(23.0)

-

1,111.7

Segment income

15.7

(12.5)

206.6

-

(7.5)

202.3

in percentage

11.6% (21.8)%*

21.9%

-

n/a

18.2%

Structure optimization expenses

(13.2)

Proceeds from net assets sales

(0.1)

(Expenses) and gains related to acquisitions

(11.3)

Other operational expenses

(11.3)

Operating income

166.4

Financial result

(34.6)

Share of results of associated companies

1.7

Income taxes

(0.8)

NET INCOME

132.7

Neopost Shipping’s segment income excluding Temando is 8.2%. *

Enterprise Digital Solutions

Neopost Shipping

SME Solutions Eliminations Innovation

31 January 2017

Total sales

136.5

53.0

990.9

(21.7)

-

1,158.7

Segment income

21.3

(11.5)

213.9

-

(7.7)

216.0

in percentage

15.6% (21.6)%*

21.6%

-

n/a

18.6%

Structure optimization expenses

(15.3)

Proceeds from net assets sales

(0.0)

(Expenses) and gains related to acquisitions

(13.1)

Other operational expenses

(6.7)

Operating income

180.9

Financial result

(30.5)

Share of results of associated companies

1.3

Income taxes

(37.7)

Net income

114.0

Neopost Shipping’s segment income excluding Temando was 8.8%. *

Transfer prices between divisions are the prices that would have been set under normal competitive conditions, as for a transaction with third parties. Amounts recognized during the year but which had no effect on Group cash (before amortization, depreciation and provisions) mainly relate to amounts in respect of share-based

payments, represent a profit of 0.6 million euros compared with an expense 0.4 million euros in 2016. The financial result is mainly due to the financial costs associated with each line of debt. The breakdown of the impacts of hedge accounting is presented in note 11 for the portion of derivative financial instruments related to foreign exchange and interest rates.

The balance sheet breaks down by sector as follows:

Enterprise Digital Solutions

Neopost Shipping

SME Solutions Innovation

31 January 2018

Other

Segment assets

369.9

50.5

2,223.2

5.7

133.2

2,782.5

TOTAL ASSETS

2,782.5

Segment liabilities

108.9

34.0

602.1

2.2

866.1

1,613.3

Equity

1,169.2

TOTAL LIABILITIES

2,782.5

131

REGISTRATION DOCUMENT 2017 / NEOPOST