QUADIENT // 2021 Universal Registration Document

QUADIENT IN BRIEF

FINANCIAL PERFORMANCE

INCOME STATEMENT

ORGANIC CHANGE (1) (annual growth rate)

CURRENT EBIT (2) (in million euros)

SALES (in million euros)

NET INCOME (in million euros)

1,143

1,024 1,029

185

147

152

88

4.3%

40

+1.6%

14

2020

2021

2021

2021

2021

2019

2020

2019

2020

2019

2020

2019

Current EBIT was up 6% on an organic basis. This mainly was due to the organic growth in revenues, improved growth margin and active cost management.

Subscription related revenue accounted for 69% of ma jor operations sales.

Net attributable income amounted to € 88 million in 2021 compared to € 40 million in 2020. Earnings per share stood at € 2.32 in 2021.

-7.3%

2021 marked a return to solid organic sales growth driven by positive contribution from all three solutions.

(1) Excluding currency and scope effects (2) Before acquisitions-related expenses

FINANCIAL STRUCTURE

(in million euros)

936

803

783

238

668

205

188

81

512

504

74

65

598

595

698

587

439

439

31/01/2020

31/01/2021

31/01/2022

Net debt was down slightly, despite the acquisition of Beanworks, to € 504 million as of 31 January 2022. The leverage ratio (net debt/EBITDA) remained stable year-over-year at 2.1x. The Group’s net debt is backed by future cash flows generated from its rental and leasing activities and other financing services. Excluding leasing, the leverage ratio remained low at 0.4x as at 31 January 2022.

Leasing portfolio Future cash flow from rental operations

Net financial debt excluding IFRS 16 impact IFRS 16 impact

(1) Net debt / EBITDA ratio

14

UNIVERSAL REGISTRATION DOCUMENT 2021