Worldline - Registration Document 2016

9

Operation and financial review

Overview 9.1

80 80

Performance by geography 9.8

95

9.1.1 9.1.2

Introduction

Commercial activity 9.9

96 96 97 97 97 99 99 99 99 102 103

Principal Factors Affecting the Group’s

Main signatures 9.9.1

Revenue and Profitability

80

Backlog and commercial perspectives 9.9.2

9.1.3

Statement Line Items Summary Description of Principal Income

86 87

Human Resources 9.10

Segment Reporting 9.1.4

Headcount evolution 9.10.1

Attrition 9.10.2

Critical accounting policies under IFRS 9.2

88

External subcontractors 9.10.3

Significant event of the year 9.3

88 88

Financial Review 9.11

Transaction with Equens and Paysquare 9.3.1. Acquisition of Komercni banka (KB 9.3.2. Smartpay)

Income Statement 9.11.1

Cash Flow 9.11.2

88

Financing Policy 9.11.3

Executive Summary 9.4

89

Worldline SA five years financial summary 9.11.4

(from Parent company financial statements) 104

Statutory to constant scope and foreign 9.5 exchange rates reconciliation

90

Non-IFRS financial measures 9.12

105 105 105 106

Revenue profile evolution 9.6

91

OMDA 9.12.1

Free Cash Flow 9.12.2

Performance by Global Business Line 9.7

92 92

EBITDA 9.12.3

9.7.1

Merchant Services & Terminals

Processing & Software Licensing”) Financial Services (former “Financial 9.7.2 Mobility & e-Transactional Services 9.7.3

93 94

9

This management’s discussion and analysis provides a review of the results of operations, financial condition and liquidity and capital resources of the Company and its subsidiaries and outlines the factors that have affected recent earnings, as well as factors that may affect future earnings. The following discussion is based on and should be read together with the Group’s audited consolidated financial statements as of and for the years ended December 31, 2016 and 2015, and the related notes thereto, prepared in accordance with IFRS and included elsewhere in this Registration Document, as well as the information included in Chapter 3, “Selected Financial Information and Other Data”, Chapter 12, “Trend Information”, and Chapter 20,

“Financial Information Concerning the Group’s Assets and Liabilities, Financial Condition and Results”.

79

Worldline 2016 Registration Document