Worldline - 2019 Universal Registration Document

FINANCIALS Consolidated financial statements

7.1 Current and deferred taxes

12 months ended December 31, 2019

12 months ended December 31, 2018

(In € million)

-87.4

Current taxes Deferred taxes

-56.0

12.4

10.7

Total

-75.0

-45.3

7.2 Effective tax rate The difference between the French standard tax rate and the Group Effective tax rate is explained as follows:

12 months ended December 31, 2019

12 months ended December 31, 2018

(In € million)

416.0 34.4% -143.2

Profit before tax

185.5 34.4% -63.9

French standard tax rate

Theoretical tax charge at French standard rate

52.6 30.2 -2.0 -4.6 5.4 -1.8 -3.5

Impact of permanent differences Differences in foreign tax rates

11.0 17.6 -6.4 -3.4 0.8 -1.2 -3.0

Movement on recognition of deferred tax assets

Equity-based compensation Change in deferred tax rates

Withholding taxes CVAE net of tax French Tax credit

0.7

1.9 1.3

-8.7

Other

-75.0 18.0%

Group tax expense Effective tax rate

-45.3 24.4%

E

7.3 Deferred taxes

12 months ended December 31, 2019

12 months ended December 31, 2018

(In € million)

26.5

Deferred tax assets Deferred tax liabilities

51.5

206.5

191.7

Net deferred tax

-180.0

-140.2

269 Universal Registration Document 2019