QUADIENT - 2020 Universal Registration Document

FINANCIAL STATEMENTS Consolidated financial statements

Major Operations

Additional Operations

31 January 2020

FR-BNL NORAM DACH-IT UK-IE International Innovation

Total sales

1,142.7

208.3 523.6 117.2 95.1

49.8

0.1

994.1

148.6

Segment income

185.1

50.1

106.3

16.1

16.4

7.7

(8.3)

188.3

(3.2)

18.9

(2.1)

16.2

24.1

20.3

13.7

17.2

15.4

in percentage

n/a

Expenses related to acquisitions

(15.5)

Current operating income

169.6

Impairment of goodwill

(70.4)

Structure optimization expenses

(10.1)

Proceeds from net assets sales

(0.2)

Other operational expenses and income

(11.9)

Operating income

77.0

Financial result

(41.1)

Share of results of associated companies

0.8

Income taxes

(21.4)

NET INCOME

15.3

Transfer prices between divisions are the prices that would have been set under normal competitive conditions, as for a transaction with third parties. Amounts recognized during the year but which had no effect on Group cash (before amortization, depreciation and provisions) mainly relate to amounts in respect of share-based payments, represent an expense of 0.2 million

euros, compared with an expense of 0.7 million euros in 2019. The financial result is mainly due to the financial costs associated with each line of debt. The breakdown of the impacts of hedge accounting is presented in note 12 for the portion of derivative financial instruments related to foreign exchange and interest rates.

6

The balance sheet breaks down by segment as follows:

Major Operations

Additional Operations

31 January 2021

FR-BNL NORAM DACH-IT UK-IE International

Other

Segment assets

887.5 852.8 212.9 271.7

86.1

2,311.0

13.2

636.1 2,960.3

TOTAL ASSETS

2,960.3

Segment liabilities

139.9 274.1

64.1

96.6

38.8

613.5

24.5 1,081.9 1,720.0

Equity

1,240.3

TOTAL LIABILITIES

2,960.3

Major Operations

Additional Operations

31 January 2020

FR-BNL NORAM DACH-IT UK-IE International

Other

Segment assets

1,018.7 883.5 212.8 272.1

80.5

2,467.6

24.7 623.0 3,115.3

Total assets

3,115.3

Segment liabilities

141.8 275.9 64.8 95.1

33.8

611.4

43.8 1,211.5 1,866.7

Equity

1,248.6

Total liabilities

3,115.3

The column “Other” includes the net indebtedness of Quadient S.A., assets and liabilities coming from factories, supply-chain and leasing companies as well as some assets

and liabilities that cannot be allocated to an operational

segment.

171

UNIVERSAL REGISTRATION DOCUMENT 2020