GSM (or GM), OGM, CGM: General Shareholders’ Meeting, Ordinary General Shareholders’ Meeting, Combined General Shareholders’ Meeting.
WCR: working capital requirement.
EPS (earnings per share) : net income attributable to the Groupe divided by the average number of shares on a non-diluted basis.
Headline diluted EPS (headline diluted earnings per share): headline net income attributable to the Groupe divided by the average number of shares on a diluted basis.
CCPA: the California Consumer Privacy Act (CCPA) is a State of California (USA) law on the protection and processing of California residents’ personal data. The CCPA has been in force since January 1, 2020.
Organic growth: change in net revenue, excluding the impact of acquisitions, disposals and exchange rate fluctuations.
Organic growth vs. 2019: two-year growth calculated as follows: ([1 + organic growth (n-1)] * [1 + organic growth (n)]) -1
Net debt (or net financial liabilities): sum of long and short-term financial liabilities and associated hedging derivatives, after deduction of cash and cash equivalents.
Average net debt: average of end-of-month net debt.
DNFP: declaration of non-financial performance.
EBITDA: operating margin before depreciation and amortization.
EU: European Union.
Free cash flow before changes in working capital requirements: net cash flow from operating activities, after financial income received and interest paid out, repayment of lease liabilities and related interest, and changes in WCR linked to operating activities.
Free cash flow: net cash flow from operating activities, after financial income received and interest paid out, repayment of lease liabilities and related interest
Capex: purchases of property, plant and equipment and intangible assets excluding equity investments and other financial assets.
Operating margin: revenue after deduction of personnel expenses, other operating expenses (excluding other non-current income and expenses) and depreciation and amortization expenses (excluding intangibles from acquisitions).
n/a: not available.
Headline Groupe net income: Groupe net income after elimination of impairment losses/real estate consolidation expenses, amortization of intangibles from acquisitions, main gains (losses) on disposal, changes in the fair value of financial assets, revaluation of earn-outs, impact of the US tax reform and Epsilon acquisition costs.
Net revenue: revenue less pass-through costs. Those costs are mainly production & media costs and out-of-pocket expenses. Since these items that can be re-billed to clients do not come within the scope of assessment of operations, net revenue is a more relevant indicator to measure the operational performance of the Groupe’s activities.
GDPR: the General Data Protection Regulation (GDPR) refers to (EU) Regulation 2016/679 of the European Parliament and of the Council of April 27, 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
CSR: corporate social responsibility.
Operating margin rate: operating margin expressed as a percentage of net revenue.
Dividend pay-out ratio: dividend per share divided by headline diluted earnings per share.
