QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

6.1.2

CONSOLIDATED INCOME STATEMENT

Notes 31 January 2022 31 January 2021

(In million euros)

Sales

(5-1)

1,024.3

1,029.4

Current operating expenses Cost of sales

(279.9)

(285.7)

Research and development expenses

(51.8)

(54.9)

Sales and marketing expenses

(270.0)

(252.2)

Administrative expenses

(175.6)

(194.4)

Service and other operating expenses

(99.7)

(91.5)

Employee profit-sharing, share-based payments

(0.5)

0.9

(5-7)

Expenses related to acquisitions

(11.8)

(19.5)

Total current operating expenses

(5-4)

(889.3)

(897.3)

Current operating income

(5-3)

135.0

132.1

(5-8)

Structure optimization expenses – net of reversals

(9.4)

(16.4)

Proceeds from asset sales

0.4

(0.2)

(5-9)

Other operational expenses and income

(10.3)

(19.6)

(4-5)

Impairment of goodwill

-

-

Operating income

115.7

95.9

Interest expenses on borrowings

(24.0)

(31.3)

(7)

Interests on lease obligations

(2.2)

(2.4)

Interest income

1.7

1.0

Net cost of debt

(24.5)

(32.7)

Losses on foreign exchange

(7.6)

(7.6)

Gains on foreign exchange

4.3

7.5

Net gains (losses) on foreign exchange

(3.3)

(0.1)

Other financial gains

20.0

1.2

Other financial losses

-

-

Income before tax

107.9

64.3

Share of results of associated companies

1.1

0.9

(12-3)

Income taxes

(19.7)

(23.8)

NET INCOME

89.3

41.4

Attributable to: holders of the parent company • non-controlling interests • NET EARNINGS PER SHARE (IN EUROS)

87.8

40.4

1.5

1.0

(13-3)

2.32

0.92

DILUTED NET EARNINGS PER SHARE (IN EUROS)

(13-3)

2.17

0.92

following notes form an integral part of the consolidated financial statements.

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UNIVERSAL REGISTRATION DOCUMENT 2021