IGE+XAO : 2020 half year financial report

IGE+XAO

Société Anonyme with capital of 5,021,866.85 euros

Head Office : 16, Boulevard Déodat de Séverac, 31770 COLOMIERS

338 514 987 R.C.S. Toulouse

SIRET: 338 514 987 000 76 - VAT number: FR 783.385.149.87

I. HALF TERM CONSOLIDATED ACCOUNTS AS OF JUNE 30, 2020

A. CONSOLIDATED BALANCE SHEET

Assets (in euros '000s)	June 30,2020	June 30,2019	December 31,
		(6 months)	(6 months)	2019
				(12 months)
Acquisition of goodwill	2,777	2,777	2,777
Intangible fixed assets - net	1,010	931	1,004
Property and equipment - net	3,657	4,252	3,923
Deferred tax	685	664	779
Shares in the associated companies	201	272	209
Other long term assets - net	161	180	178
Non current assets	8,491	9,075	8,870
Account receivables	6,911	8,010	7,296
Tax credit	2,917	2,914	2,187
Other current assets	1,011	1,239	1,114
Cash and cash equivalents	45,486	36,651	39,802
Current assets	56,325	48,814	50,399
Assets	64,816	57,889	59,269
Liabilities (in euros '000s)		June 30, 2020	June 30,	December 31,
		(6 months)	2019	2019
			(6 months)	(12 months)
Common stock	5,020	5,021	5,022
Additional paid-in capital	1,911	1,911	1,911
Consolidated reserves	33,427	26,928	26,986
Exchange difference	(230)		(134)
Net income		3,281	3,753	6,902
Shareholders' equities	43,639	37,613	40,687
Non-controlling interests		738	653	737
Total Shareholders' equities	44,377	38,266	41,424
Pension reserves, other benefits	1,618	1,498	1,605
Financial debts - long term	1,427	1,962	1,654
Deferred tax	(64)	--	(64)
Other non current debts		403	397	404
Non current liabilities	3,384	3,857	3,599
Current debts	1,158	845	972
Social debts	3,192	2,762	3,323
Taxes	1,341	1,071	765
Other current debts : short term	751	8,969	803
Taxes	870	944	940
Deferred income - short term	9,235	710	6,901
Other current debts		508	465	542
Current debts	17,055	15,766	14,246
Liabilities		64,816	57,889	59,269

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B. CONSOLIDATED STATEMENT OF OPERATIONS

(in euros '000s)	June 30, 2020	June 30, 2019	December 31,
			2019
	(6 months)	(6 months)
			(12 months)
Total revenues	15,845	17,224	33,933
Other operating revenues	330	431	935
Revenues from operating activities	16,175	17,655	34,868
Purchases and other external expenses	(3,108)	(3,292)	(6,760)
Payroll and benefits	(7,611)	8,003)	(16,026)
Taxes	(279)	(338)	(702)
Provisions / long term assets	(851)	(762)	(1,610)
Other operating expenses, net	--	--	(25,098)
Operating expenses, net	(11,849)	(12,395)	(25,098)
Current operating income	4,326	5,260	9,770
Impairment of non-current assets	--	--	7
Operating income	4,326	5,260	9,777
Interests on loans	(24)	(40)	(50)
Financial revenues	67	14	43
Financial expenses	(40)	--	(92)
Financial income (loss)	3	(26)	(99)
Income (loss) of the Group before tax	4,329	5,234	9,678
Tax and deferred tax	(1,054)	(1,424)	(2,586)
Part of net income (loss) in the associated	6	(8)	(46)
companies
Net income (loss)	3,281	3,802	7,046
Allocated to :
The Group	3,281	3,753	6,902
The Non-controlling interests	0	49	144
Number of shares, except own shares booked in
deduction of the consolidated shareholders' equity	1,302,313	1,302,015	1,330,449
Earnings per share in euros	2,52	2.88	5.19
Net diluted earnings per share	2,52	2.88	5.30

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C. STATEMENT OF COMPREHENSIVE INCOME

	(in € '000s)		30 June 2020	30 June 2020	31 December
			(6 months)	(6 months)	2019
					(12 months)
	Exchange differences resulting from foreign activities	(92)	27	27
	Actuarial gains (loss) on lump-sum retirement payments with effect	34	(6)	(72)
	on deferred taxes
	Tax losses activation	(11)	8	(68)
	Other	--	13	(11)
	Income and expenses recorded in shareholders' equity	(69)	3,802	(124)
	Result of the period	3,281	3,815	7,046
	Total income and expenses recorded over the period		3,212	3,766	6,922
	Allocated to:
	- the Group	3,211	49	6,791
	- the non-controlling interests	1	3,815	131
	Total income and expenses recorded over the period		3,212	27	6,922

D. SHAREHOLDERS' EQUITY

Shareholders' equity (in € '000s)	Common	Translatio	Accumul.	Shareholder	Minority	Shareholders
	stock and	n	reserves	s' equity	interests	equity
	additional	adjustment		- part of the
	paid-in			Group -
	capital
Shareholders' equity as of December	7,408	(162)	28,902	36,148	644	36,792
31, 2018
Capital reduction	(201)		201	--	--	--
Perimeter variation			--	--	7	7
Dividends			(2,018)	(2,018)	(45)	(2,063)
Revenues and expenses from the		27	6,764	6,791	131	6,922
period
Impact IFRS 9 and corresponding ID			(234)	(234)	--	(234)
Others
Shareholders' equity as of December	7,207	(135)	33,615	40,687	737	41,424
31, 2019
Capital reduction	--	--	--	--	--	--
Perimeter variation	--	--	--	--	--	--
Dividends	--	--	--	--	--	--
Revenues and expenses from the	--	(92)	3,303	3,211	1	3,212
period
Own-shares cancelation	--	--	(259)	(259)	--	(259)
Others	--	--	--	--	--	--
Shareholders' equity as of June 30,	7,207	(227)	36,659	43,639	738	44,377
2020

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E. CONSOLIDATED STATEMENT OF CASH FLOWS

		(in € '000s)	June 30, 2020	June 30, 2019	December 31,
					2019
		Flow of cash generated by the activity:
		Net income - Part of the Group	3,281	3,7531	6,902
		Increase (decrease) in Cash from :
		Non-controlling interests	--	49	144
		Amortizations and provisions, net	606	715	1,261
		Deferred tax		--	--
		Part of the net income in the associated companies	(6)	8	46
		Gain and loss on asset disposal	1		5
		Change in working capital	2,625	2,322	2,446
		Net cash used in operating activities	6,507	6,847	10,804
		Purchases of long-term tangible and intangible assets	(294)	(410)	(1,305)
		Sales of long-term assets	--	--	--
		Acquisition of long-term assets	--	(12)	--
		Proceeds from sale of equipment	17	--	(12)
		Cash from change in the consolidation scope	--	(16)	(16)
		Decrease in cash from net acquisitions	(277)	(438)	(1,333)
		Dividends paid	--	(2,063)	(2,063)
		Loans	--	--	592
		Repayment of loans	(553)	(444)	(953)
		Buyback of own shares	140	--	--
		Others of which advances to be paid back	(30)	(40)	(42)
		Decrease in cash from financing	(443)	(2,547)	(2,466)
		Increase (decrease) in cash and cash equivalent	5,787	3,862	7,005
		Incidences of changes in exchange rate	(104)	25	28
		Net increase (decrease) in cash and cash equivalent	5,683	3,887	7,033
		Cash and cash equivalent, beginning of year	39,802	32,769	32,769
		Cash and cash equivalent, end of year	45,485	36,656	39,802
		Net increase (decrease) in cash and cash equivalent	5,683	3,887	7,033

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