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

/ Headline earnings per share (basic and diluted)

(in millions of euros, except for share data)		June 30, 2020	June 30, 2019
Net income used to calculate headline earnings per share⁽¹⁾
Group net income		Group net income June 30, 2020 136	Group net income June 30, 2019 345
Items excluded:
Amortization of intangibles from acquisitions, net of tax		Amortization of intangibles from acquisitions, net of tax June 30, 2020 107	Amortization of intangibles from acquisitions, net of tax June 30, 2019 20
Impairment loss, net of tax		Impairment loss, net of tax June 30, 2020 173	Impairment loss, net of tax June 30, 2019 90
Revaluation of earn-out payments		Revaluation of earn-out payments June 30, 2020 (2)	Revaluation of earn-out payments June 30, 2019 1
Main capital gains (losses) on disposal of assets and fair value adjustment of financial assets, net of tax		Main capital gains (losses) on disposal of assets and fair value adjustment of financial assets, net of tax June 30, 2020 3	Main capital gains (losses) on disposal of assets and fair value adjustment of financial assets, net of tax June 30, 2019 (23)
Costs relating to the acquisition of Epsilon, net of taxes		Costs relating to the acquisition of Epsilon, net of taxes June 30, 2020 0	Costs relating to the acquisition of Epsilon, net of taxes June 30, 2019 30
RHeadline Group net income	RHeadline Group net income E	RHeadline Group net income June 30, 2020 417	RHeadline Group net income June 30, 2019 463
Impact of dilutive instruments:
Savings in financial expenses related to the conversion of debt instruments, net of tax		Savings in financial expenses related to the conversion of debt instruments, net of tax June 30, 2020 -	Savings in financial expenses related to the conversion of debt instruments, net of tax June 30, 2019 -
Headline Group net income, diluted	Headline Group net income, diluted F	Headline Group net income, diluted June 30, 2020 417	Headline Group net income, diluted June 30, 2019 463
Number of shares used to calculate earnings per share
Number of shares at January 1		Number of shares at January 1 June 30, 2020 240,437,061	Number of shares at January 1 June 30, 2019 235,249,801
Shares created over the period		Shares created over the period June 30, 2020 46,238	Shares created over the period June 30, 2019 130,156
Treasury shares to be deducted (average for the period)		Treasury shares to be deducted (average for the period) June 30, 2020 (3,015,142)	Treasury shares to be deducted (average for the period) June 30, 2019 (3,634,949)
Average number of shares used for the calculation	Average number of shares used for the calculation C	Average number of shares used for the calculation June 30, 2020 237,468,157	Average number of shares used for the calculation June 30, 2019 231,745,008
Impact of dilutive instruments:
Free shares and dilutive stock options		Free shares and dilutive stock options June 30, 2020 714,961	Free shares and dilutive stock options June 30, 2019 1,728,566
Equity warrants		Equity warrants June 30, 2020 96,943	Equity warrants June 30, 2019 412,146
Number of diluted shares	Number of diluted shares D	Number of diluted shares June 30, 2020 238,280,061	Number of diluted shares June 30, 2019 233,885,720
(in euros)
Headline earnings per share⁽¹⁾	Headline earnings per share ⁽¹⁾ E/C	Headline earnings per share ⁽¹⁾ June 30, 2020 1.76	Headline earnings per share ⁽¹⁾ June 30, 2019 2.00
Headline earnings per share – diluted⁽¹⁾	Headline earnings per share – diluted ⁽¹⁾ F/D	Headline earnings per share – diluted ⁽¹⁾ June 30, 2020 1.75	Headline earnings per share – diluted ⁽¹⁾ June 30, 2019 1.98

(1) EPS after elimination of impairment losses, amortization of intangibles from acquisitions, the main capital gains and losses on disposal and fair value adjustment of financial assets, revaluation of earn-out payments and costs relating to the acquisition of Epsilon.