Worldline - 2019 Universal Registration Document

E

FINANCIALS Consolidated financial statements

The geographical segment information for the period was the following:

Luxembourg & Netherlands Belgium

North & South Europe

Germany and CEE

Switzer- land

Emerging markets

Total Group

France

(In € million)

12 months ended December 31, 2019 External revenue by geographical area % of Group revenue 12months ended December 31, 2018 External revenue by geographical area % of Group revenue

451.4 19.0%

400.8 367.8 365.8 354.3 282.3 159.3 2,381.6 16.8% 15.4% 15.4% 14.9% 11.9% 6.7% 100.0%

396.7 23.1%

210.8 356.7

274.4

29.5 285.8 166.4 1,720.2

12.3% 20.7% 16.0% 1.7% 16.6% 9.7% 100.0%

The non-current assets are mainly comprised of goodwill and capitalized development expenses which are non-attributable by geographical area because they are allocated to several areas. The rest is composed of tangible assets which are not significant.

Therefore, it is not relevant to present the non-current assets by geographical area.

3.2 Trade accounts and notes receivables

Accounting policies/principles Trade accounts and notes receivable

Trade accounts and notes receivable are recorded initially at their fair value and subsequently at their amortized value. The nominal value represents usually the initial fair value for trade accounts and notes receivable. In case of deferred payment over one year, where the effect is significant on fair value, trade accounts and notes receivables are discounted. Where appropriate, a provision is raised on an individual basis to take likely recovery problems into account. Certain service arrangements might qualify for treatment as lease contracts if they convey a right to use an asset in return for payments included in the overall contract remuneration. If service arrangements contain a lease, the Group is considered to be the lessor regarding its customers. Where the lease transfers the risks and rewards of ownership of the asset to its customers, the Group recognizes assets held under finance lease and presents them as “Trade accounts and notes receivable” for the amount that will be settled within 12 months, and “Non-current financial assets” for the amount to be settled beyond 12 months.

As at December 31, 2019

As at December 31, 2018

(In € million)

Contract assets Trade receivables

172.0 252.4 -10.9 413.5 -148.9 264.7

152.8 216.4

Expected credit losses allowance

-8.1

Net asset value Contract liabilities

361.1 -128.7 232.4

Net accounts receivable

Number of days sales outstanding (DSO)

31

33

Net accounts receivable represents 11.1% of total revenue at end of 2019 (13.5% at end of 2018), corresponding to a similar evolution of contract assets and contract liabilities.

For balances outstanding for more than 60 days, the Group considers the need for depreciation on a case-by-case basis through a quarterly review of its balances.

256

Universal Registration Document 2019