Worldline - Registration Document 2016

9

Operation and financial review Financial Review

9.11.1.1

Reconciliation fromoperatingmargin to net income

12 months ended December 31, 2016 % Margin

12 months ended December 31, 2015 1

% Margin

(in € million)

Operating margin

196.6 15.0%

177.9 14.5%

Other operating income/(expenses)

13.3

-29.8

Operating income

210.0 16.0%

148.1 12.1%

Net financial income/(expenses)

-5.9

-5.9

Tax charge

-53.7

-38.8

Non-controlling interests and associates

-6.2

-

Net income – Attributable to owners of the parent Normalized net income – Attributable to owners of the parent 2

144.2 11.0%

103.4 8.4%

129.2 9.9%

119.9 9.8%

December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”. 1 Defined hereafter. 2

9.11.1.2

Operatingmargin before depreciation and amortization

Operating margin before depreciation and amortization (OMDA) represents the underlying operational performance of the current business and is analysed in the operational review.

December 31, 2016 12 months ended

December 31, 2015* 12 months ended

Variation

(in € million)

Operating margin

196.6

177.9 18.7

+ Depreciation of fixed assets

54.6

50.8

3.8 6.6

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

7.3 3.0

0.7 5.2 0.6

-2.2 -3.4

+/- Net charge/(release) of provisions

-2.8

OMDA

258.7

235.3 23.4

December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”. *

Change in free cash flowand operatingmarginnew definition The Group decided to change the “free cash flow” and “operating margin” definitions by excluding equity based performance, in line with sector practice. compensation effects from the calculation of financial

and presented in “other operating income and expenses”. This compensation plans is excluded from the “operating margin” period presented and as a consequence of this reclassification, change of presentation has been applied retroactively to the based compensation and the amortization cost of equity based As such, Group free cash flow excludes proceed from equity in 2015 “operating margin” has been increased by € 3.0 million.

9.11.1.3

Other operating income and expenses

€ 13.3 million in 2016. The following table presents this amount by nature: Other operating income and expenses relate to income and expenses that are unusual and infrequent. They represent a net income of

December 31, 2016 12 months ended

December 31, 2015* 12 months ended

(in € million)

Staff reorganization

-4.5 -4.5 -9.9 -6.1 38.4

-6.6 -6.2 -7.2 -3.5 -6.3

Rationalization and associated costs Integration and acquisition costs

Customer relationships and patents amortization

Other items

Total

13.3

-29.8

December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”. *

100

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