QUADIENT - 2020 Universal Registration Document
MANAGEMENT REPORT Review of Quadient’s financial position and results in 2020
3.1.2
INCOME STATEMENT
31 January 2021
31 January 2020
(In millions euros)
100.0 (27.8) 72.2 (5.3) (24.5) (18.9) (8.9)
100.0 (26.4) 73.6 (4.7) (24.8) (18.8)
Sales
1,029.4
1,142.7
Cost of sales
(285.7)
(302.1)
Gross margin
743.7
840.6
R&D expenses
(54.9)
(53.2)
Selling expenses
(252.2)
(283.3)
Administrative expenses
(194.4)
(214.9)
(9.1) (0.1)
Maintenance & other operating expenses
(91.5)
(103.5)
0.1
Employee profit-sharing and share-based payments
0.9
(0.6)
Current operating income excluding expenses related to acquisitions
3
14.7 (1.9) 12.8 (3.5)
16.2 (1.4) 14.8 (8.1)
151.6
185.1
Expenses related to acquisitions
(19.5)
(15.5)
Current operating income
132.1
169.6
Structure optimization expense and other operating expenses
(36.2)
(92.6)
9.3
6.7
Operating income
95.9
77.0
(3.1)
(3.6)
Financial income/(expenses)
(31.6)
(41.1)
6.2
3.1
Income before taxes
64.3
35.9
(2.3)
(1.9)
Income taxes
(23.8)
(21.4)
0.1 4.0
0.1 1.3
Income from associated companies
0.9
0.8
NET INCOME
41.4
15.3
Attributable to: holders of the parent company • non-controlling interests •
3.9 0.1
1.2 0.1
40.4
14.1
1.0
1.2
3.1.3
CHANGE IN SALES BY ACTIVITY AND GEOGRAPHY
Change at constant exchange rate
Organic change (a) (5.9) (8.5) 9.0 36.1 (10.3) (17.6)
2020
2019
Change
(In million euros)
(7.5) (10.3)
(5.8) (8.5) 10.1 36.1
Major Operations
919.3
994.1
Customer Experience Management
125.7
140.1
8.8
Business Process Automation
68.8
63.2
33.4 (11.9)
Parcel Locker Solutions
83.4
62.5
(10.3) (25.0)
Mail-Related Solutions
641.4
728.3
148.6 (26.0)
Additional Operations
110.1
GROUP TOTAL (7.3) FY 2020 sales are compared to FY 2019 sales, from which is deducted revenue from ProShip and the graphics activities (a) in Australia and New Zealand and to which is added revenue from YayPay, for a consolidated amount of 13 million euros, and are restated after a 18 million euros negative currency impact over the period. 1,029.4 1,142.7 (9.9) (8.3)
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UNIVERSAL REGISTRATION DOCUMENT 2020
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