Universal Registration Document 2022

6 2022 Consolidated Financial Statements

6.1 Consolidated Income Statement

6.1 CONSOLIDATED INCOME STATEMENT

(in millions of euros)	Note	2022	2021
Net revenue ⁽¹⁾	Net revenue ⁽¹⁾Note	Net revenue ⁽¹⁾202212,572	Net revenue ⁽¹⁾ 2021 10,487
Pass-through revenue	Pass-through revenue Note	Pass-through revenue 2022 1,624	Pass-through revenue 2021 1,251
Revenue	RevenueNote	Revenue202214,196	Revenue 2021 11,738
Personnel costs	Personnel costs Note4	Personnel costs 2022 (8,211)	Personnel costs 2021 (6,639)
Other operating costs	Other operating costs Note5	Other operating costs 2022 (3,184)	Other operating costs 2021 (2,782)
Operating margin before depreciation & amortization	Operating margin before depreciation & amortizationNote	Operating margin before depreciation & amortization20222,801	Operating margin before depreciation & amortization 2021 2,317
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) 2022 (535)	Depreciation and amortization expense (excluding acquisition-related intangible assets) 2021 (477)
Operating margin	Operating marginNote	Operating margin20222,266	Operating margin 2021 1,840
Amortization of intangibles from acquisitions	Amortization of intangibles from acquisitions Note6	Amortization of intangibles from acquisitions 2022 (287)	Amortization of intangibles from acquisitions 2021 (256)
Impairment loss	Impairment loss Note6	Impairment loss 2022 (109)	Impairment loss 2021 (122)
Non-current income and expenses	Non-current income and expenses Note7	Non-current income and expenses 2022 (103)	Non-current income and expenses 2021 (28)
Operating income	Operating incomeNote	Operating income20221,767	Operating income 2021 1,434
Financial expense	Financial expense Note8	Financial expense 2022 (118)	Financial expense 2021 (115)
Financial income	Financial income Note8	Financial income 2022 101	Financial income 2021 30
Cost of net financial debt	Cost of net financial debtNote8	Cost of net financial debt2022(17)	Cost of net financial debt 2021 (85)
Revaluation of earn-out payments	Revaluation of earn-out payments Note8	Revaluation of earn-out payments 2022 (2)	Revaluation of earn-out payments 2021 27
Other financial income and expenses	Other financial income and expenses Note8	Other financial income and expenses 2022 (100)	Other financial income and expenses 2021 (33)
Pre-tax income of consolidated companies	Pre-tax income of consolidated companiesNote	Pre-tax income of consolidated companies20221,648	Pre-tax income of consolidated companies 2021 1,343
Income taxes	Income taxes Note9	Income taxes 2022 (431)	Income taxes 2021 (307)
Net income of consolidated companies	Net income of consolidated companiesNote	Net income of consolidated companies20221,217	Net income of consolidated companies 2021 1,036
Share of profit of associates	Share of profit of associates Note14	Share of profit of associates 2022 5	Share of profit of associates 2021 -
Net income	Net incomeNote	Net income20221,222	Net income 2021 1,036
Of which:	Of which:Note	Of which:2022	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 2022 -	Net income attributable to non-controlling interests 2021 9
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 2022 1,222	Net income attributable to equity holders of the parent Company 2021 1,027

Per-share data (in euros) – Net income attributable to equity holders of the parent Company	10
Number of shares		250,972,110	248,620,158
Earnings per share		4.87	4.13
Number of diluted shares		253,605,167	251,695,105
Diluted earnings per share		4.82	4.08

(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.