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 |
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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
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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) |
- 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
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AKKA Technologies SE published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 08:14:17 UTC