Worldline - 2019 Universal Registration Document

E

FINANCIALS Non-IFRS financial measures

Non-IFRS financial measures E.9

E.9.1

OMDA

In addition to IFRS measures, the Group uses an additional performance measure, operating margin before depreciation

the definition used by the Group may not correspond to the definitions given to the same term by other companies. OMDA

and amortization (OMDA), which excludes from operating should not be used in lieu of IFRS measures. margin the impact of depreciation and certain other expenses detailed in the table below. The following table provides a reconciliation of OMDA to operating margin. OMDA is a non-IFRS measure and has no standard definition. As a result,

The following table provides a reconciliation of OMDA to Operating Margin, on a consolidated basis.

12 months ended December 31, 2019

12 months ended December 31, 2018

Variation

(In € million)

442.6 142.9

Operating margin

292.9

149.7

+ Depreciation of fixed assets

94.9

48.0

7.3 9.1 0.2

+ Net book value of assets sold/written off +/- Net charge/(release) of pension provisions

4.2 4.8

3.2 4.3 5.8

+/- Net charge/(release) of provisions

-5.6

OMDA

602.1

391.1

211.0

Free Cash Flow E.9.2

In addition to cash flow calculated in accordance with IFRS, the Group presents the non-IFRS indicators “Operating Cash Flow” and “Free Cash Flow”. These indicators are calculated based on OMDA, which is calculated as described above.

The following table sets forth a reconciliation of OMDA to Cash Flow from Operation, and then from Cash Flow from Operation to Free Cash Flow, for the periods indicated.

12 months ended December 31, 2019

12 months ended December 31, 2018

(In € million)

Operating Margin before Depreciation and Amortization (OMDA)

602.1 -113.9 -41.6 -46.3 400.3

391.1 -105.5

Capital expenditures

Lease expenditures (Lease under IFRS16) Change in working capital requirement

21.1

Cash from operation

306.7 -49.9

-57.4

Taxes paid

-2.8 -5.4 -3.3

Net cost of financial debt paid

-0.8 -3.5 -3.9

Reorganization in other operating income

Rationalization & associated costs in other operating income

-39.6

Integration and acquisition costs Net Long term financial investments

-36.1

14.9

-1.9 -3.1

-19.2

Other changes* Free Cash Flow

287.6 207.5 “Other changes” include other operating income and expense with cash impact (excluding reorganization, rationalization and * associated costs, integration costs and acquisition costs), and other financial items with cash impact, net long term financial investments excluding acquisitions and disposals.

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Universal Registration Document 2019