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

2.1 Consolidated income statement

Chapter 2. Consolidated interim financial statements half-year ended june 30, 2020

2.1 Consolidated income statement

2.1 CONSOLIDATED INCOME STATEMENT

(in millions of euros)Notes

June 30, 2020

(6 months)

June 30, 2019

(6 months)

December 31, 2019

(12 months)
Net revenue(1)

Net revenue

(1)

June 30, 2020

(6 months)

4,774

Net revenue

(1)

June 30, 2019

(6 months)

4,352

Net revenue

(1)

December 31, 2019

(12 months)

9,800

Pass-through revenue

Pass-through revenue

June 30, 2020

(6 months)

504

Pass-through revenue

June 30, 2019

(6 months)

516

Pass-through revenue

December 31, 2019

(12 months)

1,201

Revenue

Revenue

June 30, 2020

(6 months)

5,278

Revenue

June 30, 2019

(6 months)

4,868

Revenue

December 31, 2019

(12 months)

11,001

Personnel costs

Personnel costs

Notes

4

Personnel costs

June 30, 2020

(6 months)

(3,224)

Personnel costs

June 30, 2019

(6 months)

(2,879)

Personnel costs

December 31, 2019

(12 months)

(6,073)

Other operating costs

Other operating costs

June 30, 2020

(6 months)

(1,131)

Other operating costs

June 30, 2019

(6 months)

(1,104)

Other operating costs

December 31, 2019

(12 months)

(2,683)

Operating margin before depreciation & a mortization

Operating margin before depreciation & a mortization

June 30, 2020

(6 months)

923

Operating margin before depreciation & a mortization

June 30, 2019

(6 months)

885

Operating margin before depreciation & a mortization

December 31, 2019

(12 months)

2,245

Depreciation (excluding intangibles arising from acquisitions )

Depreciation (excluding intangibles arising from acquisitions )

Notes

5

Depreciation (excluding intangibles arising from acquisitions )

June 30, 2020

(6 months)

(301)

Depreciation (excluding intangibles arising from acquisitions )

June 30, 2019

(6 months)

(273)

Depreciation (excluding intangibles arising from acquisitions )

December 31, 2019

(12 months)

(586)

Operating Margin

Operating Margin

June 30, 2020

(6 months)

622

Operating Margin

June 30, 2019

(6 months)

612

Operating Margin

December 31, 2019

(12 months)

1,659

Amortization of intangibles from acquisitions

Amortization of intangibles from acquisitions

Notes

5

Amortization of intangibles from acquisitions

June 30, 2020

(6 months)

(142)

Amortization of intangibles from acquisitions

June 30, 2019

(6 months)

(27)

Amortization of intangibles from acquisitions

December 31, 2019

(12 months)

(204)

Impairment loss

Impairment loss

Notes

5

Impairment loss

June 30, 2020

(6 months)

(231)

Impairment loss

June 30, 2019

(6 months)

(113)

Impairment loss

December 31, 2019

(12 months)

(209)

Non-current income and expenses

Non-current income and expenses

Notes

6

Non-current income and expenses

June 30, 2020

(6 months)

5

Non-current income and expenses

June 30, 2019

(6 months)

17

Non-current income and expenses

December 31, 2019

(12 months)

21

Operating income

Operating income

June 30, 2020

(6 months)

254

Operating income

June 30, 2019

(6 months)

489

Operating income

December 31, 2019

(12 months)

1,267

Financial expense

Financial expense

June 30, 2020

(6 months)

(95)

Financial expense

June 30, 2019

(6 months)

(52)

Financial expense

December 31, 2019

(12 months)

(137)

Financial income

Financial income

June 30, 2020

(6 months)

47

Financial income

June 30, 2019

(6 months)

67

Financial income

December 31, 2019

(12 months)

112

Cost of net financial debt

Cost of net financial debt

Notes

7

Cost of net financial debt

June 30, 2020

(6 months)

(48)

Cost of net financial debt

June 30, 2019

(6 months)

15

Cost of net financial debt

December 31, 2019

(12 months)

(25)

Other financial income and expenses

Other financial income and expenses

Notes

7

Other financial income and expenses

June 30, 2020

(6 months)

(44)

Other financial income and expenses

June 30, 2019

(6 months)

(16)

Other financial income and expenses

December 31, 2019

(12 months)

(66)

Revaluation of earn-out payments

Revaluation of earn-out payments

Notes

7

Revaluation of earn-out payments

June 30, 2020

(6 months)

2

Revaluation of earn-out payments

June 30, 2019

(6 months)

(1)

Revaluation of earn-out payments

December 31, 2019

(12 months)

(22)

Pre-tax income of consolidated companies

Pre-tax income of consolidated companies

June 30, 2020

(6 months)

164

Pre-tax income of consolidated companies

June 30, 2019

(6 months)

487

Pre-tax income of consolidated companies

December 31, 2019

(12 months)

1,154
Income taxes

Income taxes

Notes

8

Income taxes

June 30, 2020

(6 months)

(39)

Income taxes

June 30, 2019

(6 months)

(136)

Income taxes

December 31, 2019

(12 months)

(305)

Net income of consolidated companies

Net income of consolidated companies

June 30, 2020

(6 months)

125

Net income of consolidated companies

June 30, 2019

(6 months)

351

Net income of consolidated companies

December 31, 2019

(12 months)

849
Share of profit of associates

Share of profit of associates

Notes

11

Share of profit of associates

June 30, 2020

(6 months)

(2)

Share of profit of associates

June 30, 2019

(6 months)

(5)

Share of profit of associates

December 31, 2019

(12 months)

(5)

Net income
Net income

June 30, 2020

(6 months)

123
Net income

June 30, 2019

(6 months)

346
Net income

December 31, 2019

(12 months)

844
Of which:



Net income attributable to non-controlling interests

Net income attributable to non-controlling interests

June 30, 2020

(6 months)

(13)

Net income attributable to non-controlling interests

June 30, 2019

(6 months)

1

Net income attributable to non-controlling interests

December 31, 2019

(12 months)

3

Net income attributable to equity holders of the parent company

Net income attributable to equity holders of the parent company

June 30, 2020

(6 months)

136

Net income attributable to equity holders of the parent company

June 30, 2019

(6 months)

345

Net income attributable to equity holders of the parent company

December 31, 2019

(12 months)

841






Per-share data (in euros) – Net income attributable to equity holders of the parent companyPer-share data

(in euros) 

– Net income attributable to equity holders of the parent company

Notes

9




Number of shares
Number of shares

June 30, 2020

(6 months)

237,468,157
Number of shares

June 30, 2019

(6 months)

231,745,008

Number of shares

December 31, 2019

(12 months)

234,293,034

Earnings per share

Earnings per share

June 30, 2020

(6 months)

0.57

Earnings per share

June 30, 2019

(6 months)

1.49

Earnings per share

December 31, 2019

(12 months)

3.59

Number of diluted shares
Number of diluted shares

June 30, 2020

(6 months)

238,280,061
Number of diluted shares

June 30, 2019

(6 months)

233,885,720

Number of diluted shares

December 31, 2019

(12 months)

236,608,597

Diluted earnings per share

Diluted earnings per share

June 30, 2020

(6 months)

0.57

Diluted earnings per share

June 30, 2019

(6 months)

1.48

Diluted earnings per share

December 31, 2019

(12 months)

3.55

(1) Net revenue: revenue less pass-through costs. Those costs are mainly production & media costs and out of pocket expenses. As these items that can be passed on to clients are not included in the scope of analysis of transactions, the net revenue indicator is the most appropriate for measuring the Group’s operational performance.