2019 Annual financial report

Chapter 7. 2019 Annual financial statements

7.5 Results of Publicis Groupe SA over the past five years

7.5 RESULTS OF PUBLICIS GROUPE SA OVER THE PAST FIVE YEARS

(Articles 133, 135 and 148 of the Decree on Trading Companies)

Information type	2019	2018	2017	2016	2015
I – Share capital at year-ende	I – Share capital at year-ende 2019	I – Share capital at year-ende 2018	I – Share capital at year-ende 2017	I – Share capital at year-ende 2016	I – Share capital at year-ende 2015
Share capital (in thousands of euros)	Share capital (in thousands of euros) 2019 96,175	Share capital (in thousands of euros) 2018 94,100	Share capital (in thousands of euros) 2017 92,251	Share capital (in thousands of euros) 2016 90,378	Share capital (in thousands of euros) 2015 89,016
Number of shares in issue	Number of shares in issue 2019 240,437,061	Number of shares in issue 2018 235&,249,801	Number of shares in issue 2017 230,627,725	Number of shares in issue 2016 225,945,387	Number of shares in issue 2015 222,540,740
Maximum number of future shares to be issued:	Maximum number of future shares to be issued: 2019	Maximum number of future shares to be issued: 2018	Maximum number of future shares to be issued: 2017	Maximum number of future shares to be issued: 2016	Maximum number of future shares to be issued: 2015
• under free share plans	• under free share plans 2019 1,;106,125	• under free share plans 2018 2,706,043	• under free share plans 2017 5,602,010	• under free share plans 2016 8,937,201	• under free share plans 2015 8,092,893
• as a result of the exercise of warrants	• as a result of the exercise of warrants 2019 957,813	• as a result of the exercise of warrants 2018 1,104,916	• as a result of the exercise of warrants 2017 1,178,932	• as a result of the exercise of warrants 2016 1,485,599	• as a result of the exercise of warrants 2015 1,685,218
II – Operations and results for the financial year	II – Operations and results for the financial year 2019	II – Operations and results for the financial year 2018	II – Operations and results for the financial year 2017	II – Operations and results for the financial year 2016	II – Operations and results for the financial year 2015
Pre-tax revenue	Pre-tax revenue 2019 27,016	Pre-tax revenue 2018 19,549	Pre-tax revenue 2017 11,604	Pre-tax revenue 2016 26,722	Pre-tax revenue 2015 9,608
Net income before taxes, depreciation, amortization and provisions	Net income before taxes, depreciation, amortization and provisions 2019 174,996	Net income before taxes, depreciation, amortization and provisions 2018 22,797	Net income before taxes, depreciation, amortization and provisions 2017 37,376	Net income before taxes, depreciation, amortization and provisions 2016 190,577	Net income before taxes, depreciation, amortization and provisions 2015 (209,565)
Income tax (credit)	Income tax (credit) 2019 (13,855)	Income tax (credit) 2018 (29,928)	Income tax (credit) 2017 (48,522)	Income tax (credit) 2016 (17,299)	Income tax (credit) 2015 (49,113)
Net income after taxes, depreciation, amortization and provisions	Net income after taxes, depreciation, amortization and provisions 2019 187,926	Net income after taxes, depreciation, amortization and provisions 2018 42,848	Net income after taxes, depreciation, amortization and provisions 2017 82,349	Net income after taxes, depreciation, amortization and provisions 2016 220,372	Net income after taxes, depreciation, amortization and provisions 2015 (154,752)
Income distributed for the financial year⁽¹⁾⁽²⁾	Income distributed for the financial year⁽¹⁾⁽²⁾ 2019 276,502	Income distributed for the financial year⁽¹⁾⁽²⁾ 2018 492,859	Income distributed for the financial year⁽¹⁾⁽²⁾ 2017 454,130	Income distributed for the financial year⁽¹⁾⁽²⁾ 2016 413,739	Income distributed for the financial year⁽¹⁾⁽²⁾ 2015 355,575
III – Earnings per share (in euros)	III – Earnings per share (in euros) 2019	III – Earnings per share (in euros) 2018	III – Earnings per share (in euros) 2017	III – Earnings per share (in euros) 2016	III – Earnings per share (in euros) 2015
Net income after taxes, but before depreciation, amortization and provisions	Net income after taxes, but before depreciation, amortization and provisions 2019 0.79	Net income after taxes, but before depreciation, amortization and provisions 2018 0.22	Net income after taxes, but before depreciation, amortization and provisions 2017 0.37	Net income after taxes, but before depreciation, amortization and provisions 2016 0.92	Net income after taxes, but before depreciation, amortization and provisions 2015 (0.72)
Net income after taxes, depreciation, amortization and provisions	Net income after taxes, depreciation, amortization and provisions 2019 0.78	Net income after taxes, depreciation, amortization and provisions 2018 0.18	Net income after taxes, depreciation, amortization and provisions 2017 0.36	Net income after taxes, depreciation, amortization and provisions 2016 0.98	Net income after taxes, depreciation, amortization and provisions 2015 (0.70)
Dividend per share⁽²⁾	Dividend per share⁽²⁾ 2019 1.15	Dividend per share⁽²⁾ 2018 2.12	Dividend per share⁽²⁾ 2017 2.00	Dividend per share⁽²⁾ 2016 1.85	Dividend per share⁽²⁾ 2015 1.60
IV – Employees	IV – Employees 2019	IV – Employees 2018	IV – Employees 2017	IV – Employees 2016	IV – Employees 2015
Average headcount	Average headcount 2019 1	Average headcount 2018 1	Average headcount 2017 1	Average headcount 2016 1	Average headcount 2015 1
Payroll expense	Payroll expense 2019 2,450	Payroll expense 2018 1,780	Payroll expense 2017 4,175	Payroll expense 2016 3,968	Payroll expense 2015 2,895
Benefits (social security, other employee benefits, etc.)	Benefits (social security, other employee benefits, etc.) 2019 635	Benefits (social security, other employee benefits, etc.) 2018 517	Benefits (social security, other employee benefits, etc.) 2017 795	Benefits (social security, other employee benefits, etc.) 2016 795	Benefits (social security, other employee benefits, etc.) 2015 634

(1) For 2019, estimate on the basis of shares outstanding at December 31, 2019, including treasury shares and subject to the approval of the General Shareholders’ Meeting to be held on May 27, 2020. Payment will be made in cash or shares.
(2) The Supervisory Board on 10 April 2020 decided, on the recommendation of the Management Board, to reduce the proposed dividend for the 2019 financial year from €2.30 to €1.15 per share, as part of an exceptional measure related to the Covid-19 pandemic.