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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