QUADIENT - 2020 Universal Registration Document

FINANCIAL STATEMENTS Consolidated financial statements

Other operating liabilities 6-6:

The other operating liabilities for an amount of customer credit balances, debts to employees and 199.7 million euros as at 31 January 2021 compared with deposits made by customers in relation to postage 201.4 million euros as at 31 January 2020 mainly comprise prepayment.

Expenses and gains related to acquisitions 6-7:

Transaction costs related to acquisitions are recorded This line includes consultants’ fees and amortization of under current operating expenses and presented on a intangible assets at the time of purchase price separat line entitled “Expenses related to acquisitions”. allocation.

31 January 2021

31 January 2020

Consultants’ fees

9.9

7.1

Amortization of intangible fixed assets after purchase price allocation

6.6

8.4

Other expenses related to acquisitions*

3.0

-

EXPENSES RELATED TO ACQUISITIONS

19.5

15.5

Costs related to YayPay acqusition (non-recourse loan to YayPay founders) and to ProShip divestment * (mainly retention bonuses contingent to the transaction closing).

Structure optimization expenses – net of reversals 6-8:

6

The Group pursued the optimization of its structure. An 2019. This expense is mainly related to the costs incurred expense of 16.4 million euros, net of an unused provision by the implementation of certain initiatives related to reversal of 0.6 million euros, is recorded in this regard in reorganizations within the Group and to expenses related 2020, compared with an expense of 10.1 million euros in to workforce reduction.

Other operational expenses and income 6-9:

31 January 2021

31 January 2020

Quadient Oceania divestment

(18.2)

-

Assets held for sale depreciation

-

(3.1)

Fixed assets depreciation

-

(5.3)

Other

(1.4)

(3.5)

OTHER OPERATIONAL (EXPENSES) INCOME

(19.6)

(11.9)

In 2020, Quadient Oceania divestment leads to an expense of 18.2 million euros, related to net assets of the company divested release and to the recognition of the cumulative translation adjustments in the profit & loss statement. In 2019, the recognition under IFRS 5 of ProShip divestment which occurred at the beginning of 2020 financial year led to an expense of 3.1 million euros.

In 2019, following the decision to shutdown the Temando businesses, the net value of the intangible assets recognized as part of the purchase price allocation was scrapped from the balance sheet, resulting to an expense of 5.3 million euros. In 2019, after the change of the name of the group Quadient, some costs incurred as part of the change of the visual identity for an amount of approximately 3.0 million euros, presented in the line “Other”.

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UNIVERSAL REGISTRATION DOCUMENT 2020