Universal Registration Document 2021

Chapter 6. 2021 Consolidated financial statements

6.1 Consolidated income statement

6.1 CONSOLIDATED INCOME STATEMENT

(in millions of euros)	Note	2021	2020
Net revenue ⁽¹⁾	Net revenue ⁽¹⁾Note	Net revenue ⁽¹⁾202110,487	Net revenue ⁽¹⁾ 2020 9,712
Pass-through revenue	Pass-through revenue Note	Pass-through revenue 2021 1,251	Pass-through revenue 2020 1,076
Revenue	RevenueNote	Revenue202111,738	Revenue 2020 10,788
Personnel costs	Personnel costs Note4	Personnel costs 2021 (6,639)	Personnel costs 2020 (6,242)
Other operating costs	Other operating costs Note5	Other operating costs 2021 (2,782)	Other operating costs 2020 (2,388)
Operating margin before depreciation & amortization	Operating margin before depreciation & amortizationNote	Operating margin before depreciation & amortization20212,317	Operating margin before depreciation & amortization 2020 2,158
Depreciation and amortization expense (excluding acquisition-related intangible assets)	Depreciation and amortization expense (excluding acquisition-related intangible assets) Note6	Depreciation and amortization expense (excluding acquisition-related intangible assets) 2021 (477)	Depreciation and amortization expense (excluding acquisition-related intangible assets) 2020 (600)
Operating margin	Operating marginNote	Operating margin20211,840	Operating margin 2020 1,558
Amortization of intangibles from acquisitions	Amortization of intangibles from acquisitions Note6	Amortization of intangibles from acquisitions 2021 (256)	Amortization of intangibles from acquisitions 2020 (339)
Impairment loss	Impairment loss Note6	Impairment loss 2021 (122)	Impairment loss 2020 (241)
Non-current income and expenses	Non-current income and expenses Note7	Non-current income and expenses 2021 (28)	Non-current income and expenses 2020 5
Operating income	Operating incomeNote	Operating income20211,434	Operating income 2020 983
Financial expense	Financial expense Note8	Financial expense 2021 (115)	Financial expense 2020 (185)
Financial income	Financial income Note8	Financial income 2021 30	Financial income 2020 66
Cost of net financial debt	Cost of net financial debtNote8	Cost of net financial debt2021(85)	Cost of net financial debt 2020 (119)
Revaluation of earn-out payments	Revaluation of earn-out payments Note8	Revaluation of earn-out payments 2021 27	Revaluation of earn-out payments 2020 (17)
Other financial income and expenses	Other financial income and expensesNote8	Other financial income and expenses2021 (33)	Other financial income and expenses 2020 (79)
Pre-tax income of consolidated companies	Pre-tax income of consolidated companiesNote	Pre-tax income of consolidated companies20211,343	Pre-tax income of consolidated companies 2020 768
Income taxes	Income taxes Note9	Income taxes 2021 (307)	Income taxes 2020 (196)
Net income of consolidated companies	Net income of consolidated companiesNote	Net income of consolidated companies20211,036	Net income of consolidated companies 2020 572
Share of profit of associates	Share of profit of associates Note14	Share of profit of associates 2021 0	Share of profit of associates 2020 (1)
Net income	Net income Note	Net income 20211,036	Net income 2020 571
Of which:	Of which:Note	Of which:2021
Net income attributable to non-controlling interests	Net income attributable to non-controlling interests Note	Net income attributable to non-controlling interests 2021 9	Net income attributable to non-controlling interests 2020 (5)
Net income attributable to equity holders of the parent company	Net income attributable to equity holders of the parent company Note	Net income attributable to equity holders of the parent company 2021 1,027	Net income attributable to equity holders of the parent company 2020 576
Data per share (in euros) – Net income attributable to equity holders of the parent company	Data per share (in euros) – Net income attributable to equity holders of the parent company Note10	Data per share (in euros) – Net income attributable to equity holders of the parent company 2021	Data per share (in euros) – Net income attributable to equity holders of the parent company 2020
Number of shares	Number of sharesNote	Number of shares2021248,620,158	Number of shares 2020 239,838,347
Earnings per share	Earnings per share Note	Earnings per share 2021 4.13	Earnings per share 2020 2.40
Number of diluted shares	Number of diluted sharesNote	Number of diluted shares2021251,695,105	Number of diluted shares 2020 241,926,553
Diluted earnings per share	Diluted earnings per share Note	Diluted earnings per share 2021 4.08	Diluted earnings per share 2020 2.38

(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 Groupe’s operational performance.