Worldline - 2019 Universal Registration Document

E

FINANCIALS Consolidated financial statements

12 months ended December 31, 2019

12 months ended December 31, 2018

% Revenue

% Revenue

(In € million)

Operating costs

-406.2 -371.0 -181.4 -958.6 -142.9

-17.1% -15.6% -7.6% -40.3%

-324.2 -290.4

-18.8% -16.9% -3.8% -39.5%

Subcontracting costs direct

Scheme fees

-65.4

Subtotal expenses Depreciation of assets

-680.0

-6.0% 0.0% -0.2% -0.2%

-94.9

-5.5% 0.3% -0.2% -0.3%

Net (charge)/release to provisions Gains/(Losses) on disposal of assets

-0.2 -3.8 -5.4 42.1

5.3

-4.0 -4.4 43.1

Trade Receivables write-off Capitalized Production Subtotal other expenses

1.8%

2.5%

-110.2

-4.6%

-54.8

-3.2%

Total

-1,068.8

-44.9%

-734.8

-42.7%

The 2019 depreciation of fixed assets includes € 39.1 million of Right-of-use amortization (Cf to Note 9 Right-of-use assets & lease liabilities).

4.3 Trade payables and note payables

As at December 31, 2019

As at December 31, 2018

(In € million)

Trade payables and note payables Trade payables and note payables

318.4 318.4 -11.9 -50.6 255.9

363.8 363.8

Advance payments Prepaid expenses Net accounts payable

-1.6

-60.6 301.6

Number of days payable outstanding (DPO)

73

87

Trade payables and note payables are expected to be paid within one year.

4.4 Other current assets and other current liabilities

Accounting policies/principles Currents assets and current Liabilities – presentation rules

Assets and liabilities classified as current are expected to be realized, used or settled during the normal cycle of operations, which can extend beyond 12 months following period-end. All other assets and liabilities are classified as non-current. Current assets and liabilities, excluding the current portion of borrowings, financial receivables and provisions represent the Group’s working capital requirement. Inventory Inventory recognized under “Other current assets”, which mainly consists in payment Terminals, are assessed at the lower cost or net realizable value. The net realizable value is the estimated selling price in the normal course of business, less estimated costs deemed necessary to sell. Inventory cost is determined according to the weighted average method and include the acquisition costs and incidental expenses.

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Universal Registration Document 2019