TF1 Financial Report 2020
Financial Report - 2020
Significant events of 2020 ................................................................................................... 5
Analysis of consolidated results ........................................................................................ 10
Segment information ........................................................................................................ 12
Corporate social responsibility .......................................................................................... 17
Human resources update .................................................................................................. 18
Stock market performance ................................................................................................ 18
Outlook .............................................................................................................................. 18
Movements in share capital .............................................................................................. 18
Corporate governance ....................................................................................................... 18
Diary dates ......................................................................................................................... 19
2. 2020 Consolidated Financial Statements ........................................................ 20
Consolidated income statement .............................................................................................. 20
Statement of recognized income and expense ....................................................................... 21
Consolidated cash flow statement .......................................................................................... 22
Consolidated balance sheet ..................................................................................................... 23
Consolidated balance sheet (continued) ................................................................................. 24
Consolidated statement of changes in shareholders' equity .................................................. 25
Notes to the consolidated financial statements ...................................................................... 26
TF1 - 2020 Financial Information
1.
2020 Financial InformationConsolidated results
Financial indicators
These key figures are extracted from TF1 Group consolidated financial data. The results below are presented in accordance with IFRS 16, applicable from 1 January 2019.
(M€)
Revenue
Group advertising revenue Revenue from other activitites
Current operating profit/(loss)
Operating profit/(loss)
Net profit/(loss) from continuing operations
Shareholders' equity attributable to the Group
Net debt of continuing operations
Operating cash flow after cost of net debt, interest expense on lease obligations and income taxes paid
Basic earnings per share from continuing operations (€)
Diluted earnings per share from continuing operations (€)
2020
2019
Weighted average number of ordinary shares outstanding ('000)
Closing share price at end of year (€)
Market capitalisation at end of year (€bn)
210,301
7.40 1.6
3
TF1 - 2020 Financial Information
Income statement contributions - continuing operations
The results below are presented using the segmental reporting structure as described in Note 4 to the consolidated financial statements.
(€M) | Q4 2020 | Q4 2019 | CHG. % | FY 2020 | FY 2019** | CHG. €M | CHG. % |
TF1 group advertising revenue | 520.4 | 497.8 | 4.5% | 1,483.3 | 1,651.1 | (167.8) | -10.2% |
Revenue from other activities | 199.9 | 224.9 | -11.1% | 598.4 | 686.2 | (87.8) | -12.8% |
Broadcasting | 556.7 | 528.6 | 5.3% | 1,612.8 | 1,774.2 | (161.4) | -9.1% |
o/w Advertising | 500.4 | 472.6 | 5.9% | 1,414.9 | 1,567.4 | (152.5) | -9.7% |
Studios & Entertainment | 109.6 | 144.7 | -24.3% | 309.2 | 390.0 | (80.8) | -20.7% |
Unify | 54.0 | 49.4 | 9.3% | 159.7 | 173.1 | (13.4) | -7.7% |
Consolidated revenue | 720.3 | 722.7 | -0.3% | 2,081.7 | 2,337.3 | (255.6) | -10.9% |
Broadcasting | 35.4 | 28.9 | 22.5% | 163.0 | 185.5 | (22.5) | -12.1% |
Studios & Entertainment | 23.9 | 32.9 | -27.4% | 31.1 | 57.9 | (26.8) | -46.3% |
Unify | 5.2 | 8.9 | -41.6% | (4.0) | 11.7 | (15.7) | -134.2% |
Current operating profit | 64.5 | 70.7 | -8.8% | 190.1 | 255.1 | (65.0) | -25.5% |
Current operating margin | 9.0% | 9.8% | -0.8pt | 9.1% | 10.9% | - | -1.8pt |
Operating profit | (10.5) | 70.7 | - | 115.1* | 255.1 | (140.0) | -54.9% |
Net profit attributable to the Group | (21.8) | 37.0 | -1.5x | 55.3 | 154.8 | (99.5) | -64.3% |
Broadcasting advertising revenue | 500.4 | 472.6 | 5.9% | 1,414.9 | 1,567.4 | (152.5) | -9.7% |
Cost of programmes | (311.4) | (325.8) | -4.4% | (833.2) | (985.5) | 152.3 | -15.5% |
* Operating profit for FY 2020 includes the impact of the €75 million write-down of Unify assets. See our press release of 23 December 2020:https://groupe-tf1.fr/en/press-release/unify-goodwill-write-down-no-impact-group-s-cash-position** 2019 figures were adjusted. See note 4.1 of the appendix of the TF1 Group accounts
Analysis of cost of programmes
(€M) | 2020 | 2019 |
Total cost of programmes | (833.2) | (985.5) |
TV dramas / TV movies / Series / Theatre | (313.3) | (331.8) |
Entertainement | (215.2) | (271.4) |
Movies | (133.1) | (148.3) |
News (including LCI) | (130.2) | (134.7) |
Sport | (29.4) | (87.4) |
Kids | (11.9) | (11.8) |
Cost of programmes - analysis by income statement line item
(M€) | 2020 | 2019 |
Purchases consumed and changes in inventory | (667.9) | (831.6) |
Staff costs | (77.9) | (77.6) |
External expenses | (13.8) | (4.1) |
Dotations nettes aux amortissements et provisions | (72.9) | (70.8) |
Autres lignes du compte de résultat IFRS | (0.6) | (1.4) |
Amount recognised in current operating profit | (833.2) | (985.5) |
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TF1 - Television Francaise 1 SA published this content on 11 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2021 06:52:02 UTC.
