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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  AKKA Technologies SE    AKA   FR0004180537

AKKA TECHNOLOGIES SE

(AKA)
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AKKA Technologies : 2020 HALF-YEARLY_FINANCIAL_REPORT

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09/21/2020 | 04:10am EDT

2020 HALF-YEARLY FINANCIAL REPORT

2020 HALF-YEARLY FINANCIAL REPORT

A - 2020 HALF-YEARLY FINANCIAL STATEMENTS

CONSOLIDATED INCOME STATEMENT

INCOME STATEMENT

Note no.

30 June 2020

30 June 2019

in thousands of euros

REVENUE

2.1

777,969

891,422

External expenses

2.2

(192,607)

(180,188)

Taxes and duties

2.3

(5,623)

(6,230)

Personnel expenses

(596,042)

(632,376)

Net depreciation and provisions

2.4

(58,923)

(26,597)

Other current expenses

(1,611)

(2,157)

Other current income

2.5

11,754

3,411

Income from equity affiliates

143

1,209

Free shares and stock options

3.9

(1,155)

(3,393)

OPERATING PROFIT

(66,096)

45,103

Income from cash and cash equivalents

2.6

976

148

Cost of gross financial debt

2.6

(10,308)

(8,126)

COST OF NET FINANCIAL DEBT

(9,332)

(7,978)

Other financial income and expenses

2.6

(3,474)

(198)

PROFIT BEFORE TAX

(78,902)

36,926

Tax expense

2.7

22,119

(10,633)

CONSOLIDATED NET INCOME

(56,783)

26,293

Non-controlling interests

(583)

(40)

GROUP SHARE OF NET PROFIT

(57,366)

26,254

Earnings per share

-2.65 €

1.19 €

Diluted earnings per share

-2.35 €

1.19 €

Weighted average number of ordinary shares outstanding

21,668,724

22,062,285

Weighted average number of ordinary shares plus potential dilutive shares

24,411,370

22,111,260

NB: in the 2019 income statement, the items in "Other Non-Current Income and Expenses" have been reclassified by nature under the headings from which they originate (see note 1.7)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Note no.

30 June 2020

30 June 2019

in thousands of euros

CONSOLIDATED NET INCOME

(56,783)

26,293

Actuarial gains and losses on pension obligations

3.10

-

(1,687)

Tax effect of items not to be recycled to profit or loss in subsequent periods

-

475

Items not to be recycled to profit or loss in subsequent periods

-

(1,212)

Gains and losses on hedging instruments

3.11

(43)

266

Change in translation differences

(22)

665

Tax effect of items to be recycled to profit or loss in subsequent periods

14

(69)

Items to be recycled to profit or loss in subsequent periods

(52)

861

CONSOLIDATED COMPREHENSIVE INCOME

(56,835)

25,943

Non-controlling interests

610

39

Group share

(57,444)

25,903

2

A - 2020 HALF-YEARLY FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEET

ASSETS

Note no.

30 June 2020

31 Dec. 2019

in thousands of euros

Goodwill

3.1

749,632

367,689

Intangible assets

3.3

46,920

24,729

Tangible assets

3.3

90,331

91,946

Rights of use - IFRS 16

3.4

147,748

149,704

Non-current financial assets

2.5

50,895

44,880

Securities of affiliated companies and joint ventures

48,044

47,901

Other non-current assets

3.5

13,672

27,246

Deferred tax assets

34,122

32,811

Non-current assets

1,181,364

786,907

Inventories and work in progress

3.6

12,929

9,502

Trade receivables

237,873

224,806

Other receivables

3.7

146,588

114,852

Cash and cash equivalents

3.8

317,069

469,231

Current assets

714,458

818,391

TOTAL ASSETS

1,895,824

1,605,299

LIABILITIES

Note no.

30 June 2020

31 Dec. 2019

in thousands of euros

Share capital

3.9

34,151

31,047

Share premiums

3.9

656

656

Consolidation reserves

3.9

263,892

199,941

Equity instruments (1)

176,219

172,911

Group share of net profit

(57,366)

73,041

Group share of equity

417,551

477,597

Non-controlling interests

Shareholders' equity

2,279641

419,831478,237

Non-current provisions

3.10

29,643

28,972

Non-current financial liabilities

3.11

747,257

467,712

Non-current IFRS 16 lease liabilities

3.11

120,012

123,415

Non-currentearn-out liabilities

3.1

12,169

-

Deferred tax liabilities

20,348

12,935

Non-current liabilities

929,429

633,035

Current provisions

3.10

8,256

2,519

Current financial liabilities

3.11

8,742

74,769

Current IFRS 16 lease liabilities

3.11

32,270

29,721

Trade payables

140,024

114,560

State - income taxes

5,668

11,145

Tax and social security liabilities excluding income tax

3.1

291,254

217,507

Current earn-out liabilities

13,778

2,314

Other liabilities

3.12

46,572

41,491

Current liabilities

546,564

494,026

TOTAL LIABILITIES

1,895,824

1,605,299

(1) ODIRNANE bonds net of issuance costs

3

A - 2020 HALF-YEARLY FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS

Note no.

30 June 2020

30 June 2019

in thousands of euros

Consolidated net income

(56,783)

26,293

Add-backs (+) or deductions (-) for depreciation and impairment (excluding working capital)

39,119

25,962

Deduction of income from equity affiliates

(143)

(1,209)

Dividends received by equity affiliates

-

-

Add-backs (+) or deductions (-) for tax

(22,046)

10,727

Add-backs (+) or deductions (-) calculated under IFRS (1)

5,765

3,669

Add-backs (+) or deductions (-) for net disposals

2.6

(8,876)

(151)

Add-backs (+) or deductions (-) for net financial debt

9,332

7,978

Cash flow before net interest borrowing costs and tax

(33,632)

73,270

Tax paid

4.1

(5,209)

(8,981)

Change in net working capital

95,618

(101,011)

Net cash flow from operating activities

56,777

(36,722)

Earn-outs of fixed assets

3.3

(12,826)

(14,873)

Disposals of fixed assets

2,448

537

Change in financial assets

4.2

(5,996)

1,330

Impact of changes in the scope of consolidation

(365,740)

(14,217)

Net cash flow from investment activities

(382,114)

(27,223)

Dividends paid to shareholders of the parent company

4.3

-

-

Issuance of equity instruments

-

-

Purchase of treasury shares

3.11

(2,357)

(3,859)

Proceeds from new borrowings

202,437

10,000

Repayment of loans

3.11

(1,546)

(6,894)

Repayment of IFRS 16 lease liabilities

3.11

(16,531)

(13,848)

Net interest received

976

148

Net interest paid

(8,903)

(6,314)

Net cash flow from financing activities

174,076

(20,767)

Impact of changes in foreign currency exchange rates

(900)

247

Change in cash position

(152,162)

(84,465)

Cash, cash equivalents and bank overdrafts at the start of the year

469,231

271,785

Cash, cash equivalents and bank overdrafts at year end

317,069

187,320

Change in cash position

(152 162)

(84,465)

  1. Expenses calculated on the basis of IFRS consist of the valuation of stock options and free shares (IFRS2) and the capitalisation of loan issue expenses.

2020 HALF-YEARLY FINANCIAL REPORT

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

AKKA Technologies SE published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 07:09:03 UTC


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Financials
Sales 2020 1 627 M 1 894 M 1 894 M
Net income 2020 -108 M -126 M -126 M
Net Debt 2020 566 M 659 M 659 M
P/E ratio 2020 -4,27x
Yield 2020 -
Capitalization 340 M 396 M 396 M
EV / Sales 2020 0,56x
EV / Sales 2021 0,48x
Nbr of Employees 21 696
Free-Float 90,1%