Devoteam S A : – Consolidated Accounts – H1 2021 (81 KB)

CONSOLIDATED ACCOUNTS

June 30th 2021

		-
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
ASSETS (in thousands of euros)	30 June 2021	31 December 2020
Goodwill	157 309	146 725
Other intangible assets	3 057	3 427
Tangible assets	10 728	10 978
Lease right-of-use assets	44 927	42 947
Financial assets	26 757	7 156
Investments in associates	450	2 358
Deferred tax assets	9 135	7 876
Other non-current assets	493	249
TOTAL NON-CURRENT ASSETS	252 856	221 716
Trade receivables	268 940	233 249
Other receivables	73 875	61 380
Tax receivables	3 987	5 263
Other current financial assets	3 918	4 677
Cash and cash equivalents	134 028	154 631
TOTAL CURRENT ASSETS	484 748	459 199
TOTAL ASSETS	737 603	680 915
SHAREHOLDERS' FUNDS & LIABILITIES (in thousands of euros)	30 June 2021	31 December 2020
Share capital	1 263	1 263
Share premium	1 934	1 934
Consolidated reserves	183 953	174 914
Treasury shares	(973)	(1 263)
Translation reserves	(2 526)	(3 007)
Profit for the year	25 978	40 829
TOTAL EQUITY ATTRIB. TO EQUITY HOLDERS OF PARENT COMPANY	209 629	214 670
Non-controlling interests	14 459	16 518
TOTAL EQUITY	224 088	231 188
Loans and borrowings	3 480	1 694
Lease liabilities	32 398	31 241
Provisions	3 652	3 842
Pension liabilities	4 925	4 800
Deferred tax liabilities	1 190	1 110
Other liabilities	40 469	29 276
TOTAL NON-CURRENT LIABILITIES	86 114	71 962
Loans, borrowings and bank overdraft	35 387	33 132
Lease liabilities	13 154	12 330
Provisions	12 841	9 979
Trade payables	93 168	76 450
Tax and social security liabilities	150 919	137 429
Income tax payable	10 289	8 539
Other liabilities	111 642	99 906
TOTAL CURRENT LIABILITIES	427 400	377 765
TOTAL LIABILITIES	513 515	449 727
TOTAL EQUITY & LIABILITIES	737 603	680 915

CONSOLIDATED INCOME STATEMENT

(in thousands of euros, except per share amounts)	30 June 2021	30 June 2020
NET REVENUE	430 069	387 236
Other income	0	-
CURRENT OPERATING INCOME	430 069	387 236
Purchase of merchandise	(5 570)	(3 787)
Other purchase and external charges	(80 007)	(82 297)
Taxes	(1 005)	(2 841)
Payroll expenses	(283 625)	(250 700)
Fixed assets depreciation	(9 699)	(9 485)
Increase in provision from current assets	(515)	(2 277)
Other expenses	2	0
CURRENT OPERATING EXPENSES	(380 420)	(351 386)
OPERATING MARGIN	49 649	35 849
Cost of share-based payment	234	(311)
Amort. of customer relationships resulting from acquisitions	(500)	(575)
CURRENT OPERATING PROFIT	49 384	34 963
Other operating income	2 200	219
Other operating expenses	(6 321)	(3 735)
OPERATING PROFIT	45 263	31 447
Financial income	499	193
Financial expenses	(3 239)	(2 809)
FINANCIAL RESULT	(2 740)	(2 615)
Share of profit of associates	(47)	1 198
PROFIT BEFORE INCOME TAX	42 477	30 030
Income tax expense	(12 537)	(10 926)
PROFIT FOR THE YEAR	29 940	19 104
Attributable to :
Equity holders of the parent company	25 978	16 362
Non-controlling interests	3 961	2 741
Basic earnings per share (euro)	3,16	2,00
Diluted earnings per share (euro)	3,16	1,99

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in thousands of euros)	30 June 2021	30 June 2020
Profit for the year	29 940	19 104
Defined benefit plan actuarial gains (losses)	-	-
Deferred taxes on defined benefit plan actuarial gains (losses)	-	-
Items that will never be reclassified to profit or loss	-	-
Foreign currency translation differences	587	(828)
Items that are or may be reclassified subsequently to profit or loss	587	(828)
Other comprehensive income (loss) for the year, net of income tax	587	(828)
Comprehensive income for the period	30 527	18 276
Attributable to:
Equity holders of the parent company	26 490	15 541
Non-controlling interests	4 036	2 734

CONSOLIDATED STATEMENT OF CASH FLOWS

(in thousands of euros)	30 June 2021	30 June 2020
Profit for the year	29 940	19 104
Adjustments for :
Share of profit of associates	47	(1 198)
Income tax expense	12 537	10 926
Amortisation and provision	15 890	11 005
Other transactions without impact on cash and cash equivalents	1 719	375
Income from asset disposals	(1 768)	234
Net interests income	2 402	1 481
Change in net working capital	(13 158)	20 839
Income tax paid	(9 737)	(6 828)
Net cash from operating activities	37 871	55 937
Purchase of fixed assets	(2 806)	(1 731)
Purchase of financial assets	(4 820)	(1 545)
Proceeds from sale of fixed assets	759	8
Dividends received	(0)	1 050
Proceeds from sale of financial assets	5 340	1 132
Proceeds from sale of subsidiaries, net of cash disposed of	(0)	(88)
Acquisition of subsidiaries, net of cash acquired	(25 166)	(548)
Net cash from investing activities	(26 693)	(1 720)
Proceeds from issue of share capital	0	-
Repayments of borrowings	(1 446)	(648)
Proceeds from borrowings	(354)	11
Payment of lease liabilities	(7 432)	(7 162)
Change in factored receivables (net of security deposit )	3 692	2 685
Interests paid	(2 084)	(759)
Acquisition of non-controlling interests	(23 922)	(2 271)
Reduction in ownership interests while retaining control	56	31
Dividends paid	(2 134)	(875)
Transactions on own shares	-	-
Net cash from financing activities	(33 625)	(8 987)
Net change in cash and cash equivalents	(22 447)	45 229
Net cash and cash equivalents at 1 January	153 101	81 592
Effect of non current assets held for sale	-	-
Effect of exchange rate fluctuation on cash held	486	(957)
Net cash and cash equivalents at year end	131 139	125 865
Reconciliation with cash and cash equivalents in the balance sheet
Cash and cash equivalents in the balance sheet	134 030	128 037
Bank overdrafts	(2 890)	(2 172)
Cash and cash equivalents in the consolidated statement of cash flows	131 139	125 865