OPERATING MARGIN*
In millions of euros
2018: 1,523
2019: 1,699
2020: 1,558
as a % of net revenue
2017: 17.0%
2019: 17.3% (1)
2020: 16.0%
GROUPE HEADLINE
NET INCOME*
In millions of euros
2018: 1,082
2019: 1,188
2020: 1034
FREE CASH FLOW
BEFORE CHANGE IN WORKING CAPITAL REQUIREMENTS*
In millions of euros
2018: 1,158
2019: 1,253
2020: 1 190
HEADLINE DILUTED EARNINGS PER SHARE*
In euros
2020: 4.27
2019: 5.02
2018: 4.61
DIVIDEND PER SHARE
In euros
2018: €2.12
2019: €1.15
2020: €2.00 (3)
PAYOUT RATIO*
In %
2018: 44.9%
2019: 22.9%(2)
2020: 46.8 %(3)
* See definitions in the glossary at the end of the introduction section.
(1) Excluding Epsilon acquisition costs.
(2) Following the recommendation of the Management Board, the Supervisory Board decided to reduce the dividend proposal to be paid in respect of financial year 2019from €2.30 to €1.15 per share, as an exceptional measure in the context of the Covid-19 pandemic.
(3) Submitted to the shareholders’ vote during the General Shareholders’ Meeting of May 26, 2021.