Operating income totaled euro 54 million in 2019, compared with euro 45 million in 2018. It includes revenue, and comprises exclusively real estate rent and fees for assistance services contracted by Group subsidiaries, totaling euro 27 million (compared with euro 20 million in 2018) and rebilling and other income totaling euro 27 million (compared with euro 25 million in 2018). Financial income amounted to euro 277 million at December 31, 2019 compared to euro 166 million the previous year; this increase is largely due to dividends received (euro 203 million in 2019 and euro 54 million in 2018). Operating expenses for the financial year amounted to euro 53 million in 2019 compared with euro 50 million the previous year.
Financial expenses totaled euro 104 million in 2019, compared with euro 148 million the previous year. Pre-tax profit was a positive euro 174 million in 2019, compared with a positive euro 13 million the previous year. After inclusion of a euro 14 million (euro 30 million in 2018) income tax credit resulting from tax consolidation in France, Publicis Groupe, the Group’s parent company, posted a profit of euro 188 million at December 31, 2019 after euro 43 million at December 31, 2018.
/ Information on client payment terms referred to in article D. 441-4
| Invoices issued and not settled on the reporting date that are past due | ||||||
|---|---|---|---|---|---|---|
| 0 days | 1 to 30 days | 31 to 60 days | 61 to 90 days | 91 days or more | Total (1 day or more) | |
(A) Late payment tranches | ||||||
Number of invoices involved | Invoices issued and not settled on the reporting date that are past due 0 |
| 1 | |||
Total amount of invoices involved, inc. tax | Invoices issued and not settled on the reporting date that are past due 0 | 11,647 | 0 | 0 | 0 | 11,647 |
Percentage of billings, inc. tax, for the financial year | Invoices issued and not settled on the reporting date that are past due 0 | 0.02% | 0 | 0 | 0 | 0.02% |
(B) Invoices not included in (A) relating to bad debts and receivables or not recognized | ||||||
Number of invoices not included | Invoices issued and not settled on the reporting date that are past due 0 | |||||
Amount of invoices not included | Invoices issued and not settled on the reporting date that are past due 0 | |||||
(C) Reference payment periods used (contractual or legal – article L. 441-6 or article L. 443-1 of the French Commercial Code) | ||||||
Payment periods used to calculate late payments: | Invoices issued and not settled on the reporting date that are past due Contractual payment periods, i.e. payment at 60 days for clients outside the Group and at 30 days for Group clients. | |||||
