AdUx : Financial Statements AdUX S.A. – 2020

ANNUAL FINANCIAL STATEMENTS 2020

Joint-stock company with capital of € 1,569,481,25 101 - 109 rue Jean Jaurès - 92300 Levallois Perret 418 093 761 R.C.S. Nanterre

www.adux.com

	FINANCIAL STATEMENTS 2020	2
	Contents
Profit and loss statement for financial years 2020 and 2019.......................................................................................................	4
Balance sheets at December 31st, 2020 and December 31st, 2019.............................................................................................	5
Note 1.	Highlights Of FY 2020 ...............................................................................................................................................	7
Note 2.	Subsequent event to December 31st, 2020 ..............................................................................................................	8
Other post-closing events ..............................................................................................................................................................	8
Note 3.	Accounting principles and methods .........................................................................................................................	9
3.1.	Going concern assumptions.............................................................................................................................................	9
3.2.	Intangible assets ..............................................................................................................................................................	9
3.3.	Property, plant and equipment .....................................................................................................................................	10
3.4.	Permanent financial investments and current accounts of subsidiaries .......................................................................	10
3.5.	Receivables and related accounts..................................................................................................................................	10
3.6.	Short-term investment securities ..................................................................................................................................	10
3.7.	Treasury shares..............................................................................................................................................................	10
3.8.	Provisions for risks and expenses ..................................................................................................................................	10
3.9.	Recognition of revenue billed to advertisers.................................................................................................................	11
3.10.	Presentation of expenses to purchase spaces in the income statement ......................................................................	11
3.11.	Corporate tax .................................................................................................................................................................	11
3.1.	Retirement benefits .......................................................................................................................................................	11
Note 4.	Intangible assets ....................................................................................................................................................	12
Note 5.	Property, plant and equipment ..............................................................................................................................	13
Note 6.	Long-term investments ..........................................................................................................................................	13
Note 7.	Receivables and related accounts ..........................................................................................................................	14
Note 8.	Other receivables ...................................................................................................................................................	15
Note 9.	Cash and cash equivalents......................................................................................................................................	15
Note 10.	Deferred charges....................................................................................................................................................	15
Note 11.	Unrealized foreign exchange losses........................................................................................................................	16
Note 12.	Shareholders' equity ..............................................................................................................................................	16
12.1.	Changes in equity...........................................................................................................................................................	16
12.2.	Share capital ..................................................................................................................................................................	16
12.3.	Stock option plan and allocations of bonus shares .......................................................................................................	17
Note 13.	Provisions...............................................................................................................................................................	18
Note 14.	Borrowings from credit institutions .......................................................................................................................	18
Note 15.	Trade payables and related accounts .....................................................................................................................	19
Note 16.	Debts on fixed assets .............................................................................................................................................	19
Note 17.	Other liabilities ......................................................................................................................................................	19

	FINANCIAL STATEMENTS 2020	3
Note 18.	Unrealized foreign exchange gains .........................................................................................................................	19
Note 19.	Accrued income and expenses ...............................................................................................................................	20
Note 20.	Turnover ................................................................................................................................................................	20
20.1.	By activity.......................................................................................................................................................................	20
20.2.	By geographical area......................................................................................................................................................	20
Note 21.	Operating expenses from ordinary activities..........................................................................................................	21
Note 22.	Financial net income ..............................................................................................................................................	21
22.1.	Financial expenses .........................................................................................................................................................	21
22.2.	Financial revenue...........................................................................................................................................................	21
Note 23.	Extraordinary result ...............................................................................................................................................	21
Note 24.	Corporate tax .........................................................................................................................................................	22
Note 25.	Off balance sheet commitments ............................................................................................................................	22
25.1.	Commitments received..................................................................................................................................................	22
25.2.	Off-balance sheet liabilities ...........................................................................................................................................	23
25.3.	Staff benefits..................................................................................................................................................................	23
Note 26.	Disputes .................................................................................................................................................................	23
Note 27.	Staff .......................................................................................................................................................................	23
Note 28.	Officers and directors.............................................................................................................................................	23
28.1.	Executive corporate officers ..........................................................................................................................................	23
28.2.	Non-executive corporate officers ..................................................................................................................................	23
Note 29.	Table of subsidiaries and affiliates .........................................................................................................................	24

			FINANCIAL STATEMENTS 2020	4
		Profit and loss statements for Financial Years 2020 and 2019
	Thousand of €	Notes		Dec. 31, 2020	Dec. 31, 2019
	Revenue from ordinary activities			2 167	3 564
	Other			2 616	3 378
	Net turnover	Note 20		4 783	6 942
	Self-constructed assets			85	103
	Adjustments to depreciation and provisions			48	334
	Other income			52	75
	Operating revenue			4 969	7 454
	Operating expenses from ordinary activities	Note 21		- 2 070	- 3 346
	Other purchases and external charges			- 1 719	- 1 930
	Taxes, levies and similar payments			- 86	- 132
	Wages and salaries			- 1 402	- 1 798
	Social security charges			- 316	- 676
	Depreciation on fixed assets			- 198	- 280
	Provisions and impairment			- 77	- 587
	Other expenses			- 67	- 119
	Operating expenses			- 5 935	- 8 867
	Operating income			- 966	- 1 413
	Financial revenue			19 855	22 292
	Interest and similar expenses			- 248	- 208
	Book value of transferred assets			- 17 989	- 18 107
	Provisions and impairment			- 1 323	- 2 586
	Other			- 7	- 1 924
	Financial expenses			- 19 566	- 22 826
	Financial net income	Note 22		289	- 533
	Proceeds from sales of assets			-	-
	On management operations			80	-
	Reversal of provisions			982	-
	Extraordinary revenue			1 062	-
	Book value of transferred assets			-	- 1
	On management operations			- 848	- 148
	Provisions and impairment			-	-
	Extraordinary expenses			- 848	- 149
	Extraordinary net result	Note 23		214	- 149
	Net income before taxes			- 463	- 2 096
	Taxes	Note 24		41	511
	Net income			- 422	- 1 584

FINANCIAL STATEMENTS 2020 5

Balance sheets at December 31st, 2020 and December 31st, 2019

ASSETS - in thousands of euros	Notes		Dec. 31, 2020			Dec. 31, 2019
			Gross		Amort. and		Net		Net
				deprec.
Concessions, patents and software			10 041		9 807		234		271
Corporate goodwill
Intangible assets in progress			20				20		34
Intangible fixed assets	Note 4		10 061		9 807		255		305
									0
Property, plant and equipment									140
		193		83		110
Other property, plant and equipment			2 043		2 020		23		24
PPE	Note 5		2 236		2 104		132		164
									0
Affiliates			93 623		81 186		12 437		12 526
Receivables related to affiliates			5 294		5 294		0		403
Deposits and sureties			120				120		119
Treasury shares			54				12		9
Other financial assets			35				35		35
Long-term investments	Note 6		99 126		86 480		12 604		13 091
									0
Total fixed assets			111 423		98 390		12 991		13 560
									0
Trade notes and accounts receivable.	Note 7		8 772		1 260		7 512		15 581
Other receivables	Note 8		29 320		7 442		21 878		26 098
Receivables			38 092		8 702		29 390		41 679
									0
Short-term investment securities			66				58		27
Liquid assets			73				73		2 124
Cash and cash equivalents	Note 9		140				131		2 151
									0
Prepaid charges	Note 10		19				19		73
Deferred charges
Unrealized foreign exchange losses	Note 11		65				65		643
									0
Total current assets			38 316		8 702		29 605		44 546
									0
Total assets			149 739		107 092		42 597		58 106