QUADIENT - 2019 Universal Registration Document

MANAGEMENT REPORT Review of Quadient's financial position and results in 2019

3.1.2

INCOME STATEMENT

31 January 2020

31 January 2019

(In millions euros)

100.0 % (26.4) % 73.6 % (4.7) % (24.8) % (18.8) %

100.0 % (24.9) % 75.1 % (5.2) % (25.1) % (17.8) % (8.7) %

Sales

1,142.7

1,091.9

Cost of sales

(302.1)

(271.9)

Gross margin

840.6

820.0

R&D expenses

(53.2)

(56.9)

Selling expenses

(283.3)

(274.1)

Administrative expenses

(214.9)

(194.4)

(9.1) %

Maintenance & other operating expenses

(103.5)

(94.5)

Employee profit-sharing and share-based payments Current operating income excluding expenses related to acquisitions

(0.1) %

(0.1) %

(0.6)

(0.8)

3

16.2 % (1.4) % 14.8 % (0.9) % (7.2) %

18.2 % (1.6) % 16.6 % (1.2) % (1.0) % 14.4 % (2.8) %

185.1

199.3

Expenses related to acquisitions

(15.5)

(17.2)

Current operating income

169.6

182.1

Structure optimization expense

(10.1)

(13.1)

Other operating expenses

(82.5)

(11.5)

6.7 %

Operating income

77.0

157.5

(3.6) %

Financial income/(expenses)

(41.1)

(30.5)

3.1 %

11.6 %

Income before taxes

35.9

127.0

(1.9) %

(3.4) %

Income taxes

(21.4)

(36.8)

0.1 % 1.3 %

0.1 % 8.4 %

Income from associated companies

0.8

1.4

NET INCOME

15.3

91.6

Attributable to: holders of the parent company • non-controlling interests •

1.2 % 0.1 %

8.4 % 0.0 %

14.1

91.5

1.2

0.1

3.1.3

CHANGE IN SALES BY ACTIVITIES

Change at constant exchange rate

Organic change (a) +0.6 % +6.2 % +18.8 % (2.8) % +31.2 % +6.7 %

2019

2018

Change

(In million euros)

+6.6 % +9.1 % +21.1 % +0.1 %

+3.5 % +6.2 % +18.8 % (2.8) %

Major Operations

944.3

886.1

Customer Experience Management

109.5

100.3

Business Process Automation

63.2

52.3

Mail-Related Solutions

728.1

727.5

+627.1 %

+594.4 %

Parcel Locker Solutions

43.5

6.0

(3.6) % +4.7 %

(4.4) % +2.0 %

Additional Operations

198.4

205.8

GROUP TOTAL +1.6 % 2019 sales are compared to 2018 sales to which is added the revenue from Parcel Pending for an amount of 25.9 million (a) euros and deducted the revenue from Satori Software and Human Inference for a total amount of 21.6 million euros. 1,142.7 1,091.9

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UNIVERSAL REGISTRATION DOCUMENT 2019