on April 22, 2021 with the French Autorité des marchés financiers (AMF), the competent authority under EU Regulation 2017/1129, without prior approval in accordance with article 9 of said regulation.
The Universal registration document may be used to support a public securities offer or admission of securities to trading
on a regulated market if accompanied by a securities note(1) and, where applicable, a summary of and all amendments made to the Universal registration document.
The package thus created must be approved by the French Autorité des marchés financiers (AMF) in accordance with EU Regulation 2017/1129.
(1) Or note on financial securities.
The Universal registration document may be consulted and downloaded from
the website: www.bollore.com.
This is a translation into English of the universal registration document of the Company issued in French and it is available
on the website of the Issuer.
Message from the Chairman
1 Overview of the Group and its activities
Economic organizational chart
Stock market data
CSR performance in brief
Corporate social responsibility
History of the Group
Non-financial performance statement,
duty of care plan
Risk factors and internal control
Risk analysis, risk management and internal control tools, compliance
Administrative and management bodies,
compensation and benefits
Analysis of operations and financial statements
Analysis of consolidated results, research and development, events after reporting period, trends and objectives, consolidated financial statements, company accounts, other financial and accounting information
6 Information on the company and shareholders
Shareholding, stock market data, indicative financial communications calendar, dividends, detailed organizational chart, main subsidiaries, acquisitions of direct shareholdings and controlling interests, additional information about share capital
7 General Shareholders' Meetings
Agenda, draft resolutions and presentation
of resolutions to the Combined General Meeting
on May 26, 2021, Statutory Auditors' reports
8 Additional information
Main legal and statutory provisions, documents
accessible to the public, persons responsible
for the universal registration document and financial
information, persons responsible for auditing
the financial statements, information provided by
third parties, statements by experts and declarations
of interest, information likely to have an impact
in the event of a takeover or stock swap
2020 UNIVERSAL REGISTRATION DOCUMENT - BOLLORÉ SE
Chairman and Chief Executive Officer
from the Chairman
Our 2020 results show good performances across all the Group's business sectors despite the particularly difficult environment resulting from the health crisis, which is affecting the entire planet.
Bolloré Transport & Logistics' business activities proved particularly resilient, with adjusted operating income (EBITA)(1) of 607 million euros, down 2% at constant scope and exchange rates. Solid performances in freight forwarding, port terminals and oil logistics practically offset the expected impact of the end of the Douala
Terminal concession in Cameroon at the end of 2019 and the slowdown in logistics in Africa.
The results of the Communications sec- tor, i.e. the business activities of Vivendi, increased 4% to 1,627 million euros, driven by the results of Universal Music
(1) See Glossary on page 347.
2 BOLLORÉ SE - 2020 UNIVERSAL REGISTRATION DOCUMENT
I know I can count on all the people who make up our Group. I would like to thank them for their remarkable commitment and resilience in 2020.
Group (+18%) and Groupe Canal+ (+27%). The results of the Electricity storage and systems sector improved sharply, coming out at -102 million euros in 2020, for an increase of 332 million euros on 2019, which included a substantial non-recurring impairment as part of the strategic rede- ployment in batteries and buses.
Overall, Group EBITA(1) totaled 2,043 million euros, up 23%, while revenue, amounting to 24,109 million euros, contracted 3% at constant scope and exchange rates. Net income came out at 1,563 million euros, up 11%, and net income Group share was 426 million euros, for an increase of 79%. This total does not include the capital gain from the sale in March 2020 of 10% of the share capital of UMG to a
Tencent-led consortiumbased on an enterprise value of 30 billion euros for 100% of UMG.
Bolloré also continued to reduce its net debt, which fell (excluding the financial debt of Vivendi's) to 4.2 billion euros at end- 2020. Vivendi's financial debt, having reached nearly 5 billion euros at end-2020, decreased substantially at the start of 2021 with the sale of an additional 10% of UMG for 2.8 billion euros.
As a result, the consortium led by Tencent now owns 20% of UMG. With the transaction finalized, Vivendi is now able to envisage the distribution of 60% of UMG's share capital to shareholders. The Extraordinary General Meeting of Vivendi's shareholders on March 29, 2021 having approved by 99.98% the change in the bylaws, making it possible to proceed with a distribution in specie, Vivendi will pursue this project, the objective being a distribution before the end of 2021.
Against the backdrop of the Covid-19 health crisis, the Group will continue in 2021 to invest in its various businesses while demonstrating extreme caution. In this difficult environment, I know I can count on all the people who make up our Group. I would like to thank them for their remarkable commitment and resilience in 2020. •
2020 UNIVERSAL REGISTRATION DOCUMENT - BOLLORÉ SE
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