Worldline - 2020 Universal Registration Document

E

FINANCIALS Financial review

(c2): Restatements of presentation have been performed, among which the main one is the reclassification of the amortization expense for customer relationships and Technologies which have been presented as other operating expenses in compliance with Group’s accounting principles.

(c1): The restatement is mainly linked to the Interchange bank commission. The Group presents its revenue for Commercial Acquiring net of interchange bank commissions received on behalf of card issuing banks. Accordingly, this adjustment corresponds mainly to passthrough accounting applied to the interchange bank commissions that were booked during the first ten months of 2020.

Pro forma adjustments reflected in the pro forma income statement for the year ended December 31, 2020 The following pro forma adjustments were recorded:

d=d1+d2+d3+d4

d1

d2

d3

d4

Impact of the PPA

Adjustments linked to change of control

amortization and the cost of debt for the acquisition

Intra-group transactions eliminations

Total Pro forma adjustments

FX impact

(In € millions)

Revenue

-33.7

-14.4

-18.5

0.0 0.0

-0.8

Personnel expenses Operating expenses Operating margin

0.0

0.0

0.0 6.9

45.5 11.8

14.4 0.0

24.7 24.7

-0.5 -1.3

-11.6

% of revenue Other operating income and expenses

-108.5 -96.7

0.0 0.0

0.0

-108.5 -83.8

Operating income % of revenue Financial expenses Financial income

-11.6

-1.3

-7.2

0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0

-7.2

0.0

0.0

Net financial expenses Net income before tax

-7.2

-7.2

0.0 -1.3

-103.9

-11.6

-91.0

Tax charge

26.9

4.4

22.5

0.0

Effective tax rate

25.9%

37.6%

24.8%

Share of net profit/(loss) of associates

0.0

0.0 0.0

0.0

0.0

Net income

-77.0

-7.3

-68.4

-1.3

ADDITIONAL NON-GAAP INDICATORS:

Depreciation of fixed assets, Operating net charge of provisions and Net charge of provisions for pensions Operating Margin before Depreciation and Amortization (OMDA/EBITDA*)

24.7

0.0

0.0

24.7

0.0

-12.9

0.0

-11.6

0.0

-1.3

% of revenue EBITDA for historical Ingenico *

(d1): These adjustments refer to the elimination of transactions between Worldline and Ingenico or GoPay during respectively the first ten months of 2020 or the first 8 months of 2020. (d2): These adjustments refer to the descoping of business linked to a settlement in the frame of the Ingenico acquisition

and pre-closing contract losses in relation with Ingenico change of control. Therefore, related impacts have been restated to correspond to the acquired scope i.e. the scope that will continue in the Worldline environment.

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Universal Registration Document 2020