QUADIENT - 2020 Universal Registration Document

QUADIENT IN BRIEF

FINANCIAL PERFORMANCE

INCOME STATEMENT

ORGANIC CHANGE (1) (annual growth rate)

CURRENT EBIT (2) (in million euros)

SALES (in million euros)

NET INCOME (in million euros)

1,029 1,143

1,092

199

185

152

92

40

+1.6%

14

+0.2%

2020

2020

2020

2020

2018

2019

2018

2019

2018

2019

2018

2019

Current EBIT mainly reflected the revenue

In 2020, recurring revenue accounted for 71% of the Group's total sales.

Net attributable income amounted to € 40 million in 2020 compared to € 14 million in 2019. Earnings per share stood at € 0.92 in 2020.

decrease and active cost management in both cost of sales and operating expenses. It included a € 6.5 million earn-out reversal of related to Parcel Pending acquisition.

-7.3%

In 2020, the Group's business model proved resilient, with solid recurring revenue performance in spite of difficult trading and economic conditions,

(1) Change excluding currency and scope effects (2) Before acquisitions-related expenses

leading to a contained decline in total sales.

FINANCIAL STRUCTURE

(in million euros)

931

936

803

225

238

668

205

617

81

512

74

698

598

706

587

439

31/01/2019

31/01/2020

31/01/2021

Net debt was reduced by € 156 million to € 512 million as at 31 January 2021, with an improved leverage ratio (1) of 2.1x compared to 2.4x as at 31 January 2020. The Group’s net debt is backed by future cash flows generated from its rental and leasing activities and other financing services. Excluding leasing, the leverage ratio remained low at 0.4x as at 31 January 2021.

Net financial debt

Leasing portfolio Future cash flow from rental operations

Net financial debt excluding IFRS 16 impact IFRS 16 impact

(1) Net debt / EBITDA ratio.

14

UNIVERSAL REGISTRATION DOCUMENT 2020