QUADIENT - 2020 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

6.1.2

CONSOLIDATED INCOME STATEMENT

Notes

31 January 2021

31 January 2020

(In million euros)

Sales

(6-1)

1,029.4

1,142.7

Current operating expenses Cost of sales

(285.7)

(302.1)

Research and development expenses

(54.9)

(53.2)

Sales and marketing expenses

(252.2)

(283.3)

Administrative expenses

(194.4)

(214.9)

Service and other operating expenses

(91.5)

(103.5)

Employee profit-sharing, share-based payments

0.9

(0.6)

(6-7)

Expenses related to acquisitions

(19.5)

(15.5)

Total current operating expenses

(6-4)

(897.3)

(973.1)

Current operating income

(6-3)

132.1

169.6

(6-8)

Structure optimization expenses – net of reversals

(16.4)

(10.1)

Proceeds from asset sales

(0.2)

(0.2)

(6-9)

Other operational expenses and income

(19.6)

(11.9)

(4-5)

Impairment of goodwill

-

(70.4)

Operating income

95.9

77.0

Interest expenses on borrowings

(31.3)

(37.9)

(8)

Interests on lease obligations

(2.4)

(2.6)

Interest income

1.0

2.0

Net cost of debt

(32.7)

(38.5)

Losses on foreign exchange

(7.6)

(13.4)

Gains on foreign exchange

7.5

8.9

Net gains (losses) on foreign exchange

(0.1)

(4.5)

Other financial gains

1.2

1.9

Other financial losses

-

-

Income before tax

64.3

35.9

Share of results of associated companies

0.9

0.8

(13-3)

Income taxes

(23.8)

(21.4)

NET INCOME

41.4

15.3

Attributable to: holders of the parent company • non-controlling interests • NET EARNINGS PER SHARE (IN EUROS)

40.4

14.1

1.0

1.2

(14-3)

0.92

0.15

DILUTED NET EARNINGS PER SHARE (IN EUROS)

(14-3)

0.92

0.15

following notes form an integral part of the consolidated financial statements.

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UNIVERSAL REGISTRATION DOCUMENT 2020