Fnac Darty : Financial statements (unaudited)

Financial statements (unaudited)

Fnac Darty unaudited consolidated financial statements as of December 31, 2020 and 2019

1

Consolidated income statement for the years ended December 31, 2020 and 2019

(€ million)	Note	2020	2019
Income from ordinary activities	4-5	7,490.7	7,348.6
Cost of sales	(5,304.9)	(5,113.2)
Gross margin	2,185.8	2,235.4
Personnel expenses	6-7	(1,055.1)	(1,096.0)
Other current operating income and expense	(915.5)	(847.9)
Share of profit from equity associates	8	0.1	1.8
Current operating income	9	215.3	293.3
Other non-current operating income and expense	10	(15.9)	(28.6)
Operating income	199.4	264.7
Financial expense, net	11	(51.4)	(79.1)
Pre-tax income	148.0	185.6
Income tax	12	(59.6)	(71.5)
Net income from continuing operations	88.4	114.1
Group share	95.6	115.1
share attributable to non-controlling interests	(7.2)	(1.0)
Net income from discontinued operations	31	(94.4)	(10.2)
Group share	(94.4)	(10.2)
share attributable to non-controlling interests	0.0	0.0
Consolidated net income	(6.0)	103.9
Group share	1.2	104.9
share attributable to non-controlling interests	(7.2)	(1.0)
Net income, Group share	1.2	104.9
Earnings per share (€)	13	0.05	3.96
Diluted earnings per share (€)	13	0.04	3.92
Net income from continuing operations, Group share	95.6	115.1
Earnings per share (€)	13	3.61	4.34
Diluted earnings per share (€)	13	3.53	4.30
2

Consolidated comprehensive income statement

(€ million)	Note	2020	2019
Net income	(6.0)	103.9
Translation differences	1.3	(1.3)
Fair value of hedging instruments	(2.0)	(0.8)
Items that may be reclassified subsequently to profit or loss	14	(0.7)	(2.1)
Revaluation of net liabilities for defined benefit plans	(25.5)	(15.9)
Items that may not be reclassified subsequently to profit or loss	14	(25.5)	(15.9)
Other items of comprehensive income, after tax	14	(26.2)	(18.0)
Total comprehensive income	(32.2)	85.9
Group share	(25.0)	86.9
share attributable to non-controlling interests	(7.2)	(1.0)
3

Consolidated statement of financial position for the years ended December 31, 2020 and 2019

Assets

(€ million)	Note	2020	2019
restated*
Goodwill	15	1,654.3	1,654.1
Intangible assets	16	505.6	511.0
Property, plant & equipment	17	594.2	614.9
Right-of-use assets related to lease agreements	18	1,109.4	1,189.7
Investments in associates	8	0.1	21.4
Non-current financial assets	20	32.6	27.9
Deferred tax assets	12.2.2	67.3	82.7
Other non-current assets	24.2	0.0	0.1
Non-current assets	3,963.5	4,101.8
Inventories	22	960.2	1,079.4
Trade receivables	23	285.4	274.8
Tax receivables due	12.2.1	3.6	2.8
Other current financial assets	24.1	6.8	11.6
Other current assets	24.1	361.1	369.3
Cash and cash equivalents	21	1,568.7	995.5
Current assets	3,185.8	2,733.4
Assets held for sale	31	0.0	200.6
Total Assets	7,149.3	7,035.8
*Restated for the IFRIC's decision on IFRS 16 of December 16, 2019
Liabilities
(€ million)	Note	2020	2019
restated*
Share capital	26.6	26.5
Equity-related reserves	971.2	971.3
Translation reserves	(4.5)	(5.8)
Other reserves and net income	375.2	395.9
Shareholders' equity, Group share	25	1,368.5	1,387.9
Shareholders' equity - Share attributable to non-controlling interests	25	4.9	10.4
Shareholders' equity	25	1,373.4	1,398.3
Long-term borrowings and financial debt	28.1	901.9	936.4
Long-term leasing debt	28.2	884.1	967.0
Provisions for pensions and other equivalent benefits	26	205.9	176.7
Other non-current liabilities	24.2	124.4	189.5
Deferred tax liabilities	12.2.2	164.6	203.2
Non-current liabilities	2,280.9	2,472.8
Short-term borrowings and financial debt	28.1	552.9	77.0
Short-term leasing debt	28.2	229.7	212.3
Other current financial liabilities	24.1	13.0	18.2
Trade payables	24.1	1,784.4	1,888.7
Provisions	27	30.6	39.0
Tax liabilities payable	12.2.1	30.0	9.4
Other current liabilities	24.1	854.4	785.0
Current liabilities	3,495.0	3,029.6
Liabilities related to assets held for sale	31	0.0	135.1
Total Liabilities	7,149.3	7,035.8
*Restated for the IFRIC's decision on IFRS 16 of December 16, 2019

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