Half-Year Financial Report - For the Six Months Ended June 30, 2020

1.5 Analysis of the financial situation and result

Chapter 1. Interim management report

1.5 Analysis of the financial situation and result

1.5 ANALYSIS OF THE FINANCIAL SITUATION AND RESULT

Simplified consolidated income statement

(in millions of euros) H1 2020 H1 2019 2020 vs. 2019
Net revenue

Net revenue

H1 2020

4,774

Net revenue

H1 2019

4,352

Net revenue

2020 vs. 2019

+9.7%

Pass-through revenue

Pass-through revenue

H1 2020

504

Pass-through revenue

H1 2019

516

Pass-through revenue

2020 vs. 2019

-2.3%

Revenue

Revenue

H1 2020

5,278

Revenue

H1 2019

4,868

Revenue

2020 vs. 2019

+8.4%

Personnel costs

Personnel costs

H1 2020

(3,224)

Personnel costs

H1 2019

(2,879)

Personnel costs

2020 vs. 2019

+12.0%

Other operating costs

Other operating costs

H1 2020

(1,131)

Other operating costs

H1 2019

(1,104)

Other operating costs

2020 vs. 2019

+2.4%

Operating margin before Depreciation & Amortization

Operating margin before Depreciation & Amortization

H1 2020

923

Operating margin before Depreciation & Amortization

H1 2019

885

Operating margin before Depreciation & Amortization

2020 vs. 2019

+4.3%

Depreciation & Amortization

Depreciation & Amortization

H1 2020

(301)

Depreciation & Amortization

H1 2019

(273)

Depreciation & Amortization

2020 vs. 2019

+10.3%

Operating margin

Operating margin

H1 2020

622

Operating margin

H1 2019

612

Operating margin

2020 vs. 2019

+1.6%

Percentage operating margin (% of Net revenue) Percentage operating margin

(% of Net revenue)

H1 2020

13.0%

Percentage operating margin

(% of Net revenue)

H1 2019

14.1%

Percentage operating margin

(% of Net revenue)

2020 vs. 2019

(110) bps

Amortization of intangibles arising from acquisitions

Amortization of intangibles arising from acquisitions

H1 2020

(142)

Amortization of intangibles arising from acquisitions

H1 2019

(27)

Amortization of intangibles arising from acquisitions

2020 vs. 2019

-

Impairment

Impairment

H1 2020

(231)

Impairment

H1 2019

(113)

Impairment

2020 vs. 2019

+104.4%

Other non-recurring income (expense)

Other non-recurring income (expense)

H1 2020

5

Other non-recurring income (expense)

H1 2019

17

Other non-recurring income (expense)

2020 vs. 2019

-70.6%

Operating income

Operating income

H1 2020

254

Operating income

H1 2019

489

Operating income

2020 vs. 2019

-48.1%

Financial income (expense)

Financial income (expense)

H1 2020

(92)

Financial income (expense)

H1 2019

(1)

Financial income (expense)

2020 vs. 2019

-

Revaluation of earn-out costs

Revaluation of earn-out costs

H1 2020

2

Revaluation of earn-out costs

H1 2019

(1)

Revaluation of earn-out costs

2020 vs. 2019

-

Income tax

Income tax

H1 2020

(39)

Income tax

H1 2019

(136)

Income tax

2020 vs. 2019

-71.3%

Share of profit of Associates

Share of profit of Associates

H1 2020

(2)

Share of profit of Associates

H1 2019

(5)

Share of profit of Associates

2020 vs. 2019

-60.0%

Minority interests

Minority interests

H1 2020

13

Minority interests

H1 2019

(1)

Minority interests

2020 vs. 2019

-

Group net income

Group net income

H1 2020

136

Group net income

H1 2019

345

Group net income

2020 vs. 2019

-60.6%