QUADIENT - 2019 Universal Registration Document

6

FINANCIAL STATEMENTS Analysis of Neopost S.A.'s annual results

6.3.4

EXTRAORDINARY INCOME

Neopost S.A.’s extraordinary loss amounts to 0.5 million euros compared with a loss of 22.2 million euros as at 31 January 2019. Treasury share disposals under the liquidity contract generate 0.2 million euros (0.7 million euro as at 31 January 2019) of extraordinary income on capital transactions and 0.7 million euros (1.2 million euros as at 31 January 2019) of extraordinary expenses. As at 31 January 2019, the expenses capitalized in regard to a project of common IT tools roll-out in Europe were sold to one of the Group’s subsidiary for a net book value of 32.6 million euros and an exceptional depreciation of the corresponding intangible fixed assets was recorded for an amount of 21.7 million euros. As at 31 January 2020, no exceptional depreciation is recorded.

6.3.5

NET INCOME

Net income amounts to 11.1 million euros (38.5 million euros as at 31 January 2019), after a net tax benefit of 6.4 million euros (5.5 million euros as at 31 January 2019), In accordance with the Article 223 quater of the French general tax code (CGI), the financial statements for the current year include 84,050 euros of non-tax-deductible expenses (Article 39-4 of the CGI), but do not include the non-tax-deductible general expenses (Article 39-5 of the CGI).

6.3.6

SHAREHOLDERS’ EQUITY

Neopost S.A.’s shareholders’ equity amounts to 364.2 million euros as at 31 January 2020, a decrease of 7.2 million euros year-on-year. This decrease corresponds to the 2019 net income after deduction of 18.2 million euros paid to shareholders for the balance of 2018 dividends.

6.3.7

TRADE PAYABLES AND RECEIVABLES AGEING

Invoices received and issued not paid at the end of the financial year and for which the payment term has expired (article D.441-4)

31 January 2020 Number of invoices

Trade payables - Ageing Not due • between 1 and 30 days • between 31 and 60 days • between 61 and 90 days • More than 90 days •

6.3

124

1.2

34

0.4

25

0.0

22

0.1

35

TOTAL

8.0

240

Suppliers are contractually paid within 30 days.

31 January 2020 Number of invoices

Trade receivables - Ageing Not due • between 1 and 30 days • between 31 and 60 days • between 61 and 90 days • More than 90 days •

19.8

156

0.2

6

-

2

0.3

19

1.0

61

TOTAL

21.3

244

196

UNIVERSAL REGISTRATION DOCUMENT 2019