QUADIENT - 2020 Universal Registration Document
6
FINANCIAL STATEMENTS Consolidated financial statements
Breakdown of expenses by category 6-4:
31 January 2021
31 January 2020
Cost of inventories recognized as expenses
257.9
285.8
Wages, bonuses, commissions and payroll charges
429.8
465.8
Rents and associated costs
5.0
9.0
Fees
45.7
40.9
Transport and travel
21.6
41.0
Fixed assets – depreciation and amortization
113.9
112.5
Other
23.4
18.1
Total expenses by category
897.3
973.1
Cost of sales
285.7
302.1
Operating expenses
611.6
671.0
TOTAL
897.3
973.1
Inventories and work in progress 6-5:
6-5-1: ACCOUNTING PRINCIPLES
Inventories and work in progress are measured at the lower of the cost or replacement value (for purchased goods) or the cost of full production (for produced goods) and must not exceed the net realizable value. Cost price is calculated using the weighted average cost method.
Depreciation is calculated on the basis of inventory turnover and the obsolescence of equipment and goods. The intra-Group margin generated by industrial subsidiaries on equipment sold to the distribution subsidiaries which store this equipment is eliminated.
6-5-2: INVENTORIES BY CATEGORIES
31 January 2021
31 January 2020
Gross value
Depreciation
Net Gross value
Depreciation
Net
Work in progress
8.5
(0.7)
7.8
6.7
(0.7)
6.0
Raw materials
13.5
(2.1)
11.4
13.4
(2.0)
11.4
Finished goods
59.6
(10.3)
49.3
67.4
(10.7)
56.7
Spare parts
4.4
(1.7)
2.7
4.6
(1.8)
2.8
TOTAL
86.0
(14.8)
71.2
92.1
(15.2)
76.9
6-5-3: CHANGES IN INVENTORIES
31 January 2021
Gross value
Depreciation
Opening
92.1
(15.2)
Net inventory entries
2.6
-
Charges
-
(2.2)
Reversals
-
1.5
Change in scope
(7.9)
0.8
Other
0.6
0.1
Translation difference
(1.4)
0.2
TOTAL
86.0
(14.8)
168
UNIVERSAL REGISTRATION DOCUMENT 2020
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