GSM, OGM, CGSM: General Shareholders' Meeting, Ordinary General Shareholders' Meeting, Combined GeneralShareholders' Meeting.
WCR: Working capital requirement.
EPS (Earnings per share): Net income attributable to the Groupe divided by average number of shares, not diluted.
Headline EPS, diluted (Headline Earnings per share, diluted): Headline Groupe net income, divided by average number of shares, diluted.
CCPA: The California Consumer Privacy Act (CCPA) is a law of the State of California (USA) relating to the protection and processing of personal data of California residents. The CCPA came into force on January 1, 2020.
Organic growth: Change in net revenue excluding the impact of acquisitions, disposals and currencies.
Organic growth vs. 2019: Growth over four years calculated as follows: ([1 + organic growth (n‑3)] * [1 + organic growth (n‑2)] * [1 + organic growth (n‑1)] * [1 + organic growth (n)]).
Net debt (or net financial debt): Sum of long- and short‑term financial debt and associated hedging derivatives, less cash and cash equivalents.
Average net debt: Average of monthly net debt at end of month.
DNFP: Declaration of Non‑Financial Performance.
EBITDA: Operating margin before depreciation & amortization.
EU: European Union.
Free cash flow before changes in WCR: Net cash flow from operating activities after financial income received and financial interest disbursed, before repayment of lease commitments and related interest, and before change in working capital related to operating activities.
Free cash flow: Net cash flow from operating activities after financial income received, financial interest disbursed and repayment of lease commitments and related interest.
Capex: Net acquisitions of tangible and intangible assets, excluding financial investments and other financial assets.
Operating margin: Revenue after personnel costs, other operating expenses (excl. non‑current income and expenses) and depreciation (excl. amortization of intangibles arising on acquisitions).
n/a: Not available.
Headline Groupe net income: Net income attributable to the Groupe, after elimination of impairment charges/real estate transformation expenses, amortization of intangibles arising on acquisitions, the main capital gains (or losses) on disposals, change in the fair value of financial assets and the revaluation of earn‑outs.
Net revenue: Revenue less pass‑through costs. Those costs are mainly production & media costs and out‑of‑pocket expenses. As these are 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.
GDPR: The General Data Protection Regulation (GDPR) refers to Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016 on the protection of individuals with regard to the processing of personal data and the free movement of this data.
CSR: Corporate social responsibility.
Operating margin rate: Operating margin as a percentage of net revenue.
Payout ratio or Dividend payout: Dividend per share dividedby Headline diluted EPS.
