2021 First-Half Results: financial report

2021half-year financial report

2021 half-year financial report

1.	Condensed consolidated interim financial statements ..........................................................	3
2.	2021 half-year management report ...................................................................................	27
3.	Statement by the person responsible for the half-year financial report...............................	36
4.	Statutory auditors' review report on the 2021 half-yearly financial information .................	37

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2021half-year financial report 1. Condensed consolidated interim financial statements

1. Condensed consolidated interim financial statements

1.1	Condensed consolidated statement of financial position..............................................................	4
1.2	Condensed consolidated statement of income..............................................................................	5
1.3	Condensed consolidated statement of comprehensive income ....................................................	5
1.4	Condensed consolidated statement of cash flows.........................................................................	6
1.5	Condensed consolidated statement of changes in equity .............................................................	7
1.6	Notes to the condensed consolidated financial statements..........................................................	8

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2021half-year financial report 1.1 Condensed consolidated statement of financial position

1.1 Condensed consolidated statement of financial position (in

millions of euros)

ASSETS	Notes	06/30/2021	12/31/2020
Non-current assets
Goodwill	4	2,736	2,106
Other intangible assets		935	951
Right-of-use assets		590	620
Property, plant and equipment		556	569
Financial assets		58	53
Deferred tax assets		59	45
Total non-current assets		4,934	4,344
Current assets
Current income tax receivable		109	105
Accounts receivable - Trade	3.2	1,460	1,307
Other current assets	3.2	241	197
Other financial assets		52	75
Cash and cash equivalents	8.5	851	996
Total current assets		2,713	2,680
TOTAL ASSETS		7,647	7,024
EQUITY AND LIABILITIES	Notes	06/30/2021	12/31/2020
Equity
Share capital	6.1	147	147
Share premium		575	575
Translation reserve		-278	-386
Other reserves		2,200	2,073
Equity attributable to owners of the Company		2,644	2,409
Non-controlling interests		0	0
Total equity		2,644	2,409
Non-current liabilities
Post-employment benefits	9.1	32	30
Lease liabilities	7.2	484	512
Other financial liabilities	7.2	2,456	2,196
Deferred tax liabilities		228	236
Total non-current liabilities		3,200	2,974
Current liabilities
Provisions	9.1	75	63
Current income tax		163	114
Accounts payable - Trade	3.5	276	227
Other current liabilities	3.5	765	675
Lease liabilities	7.2	162	162
Other financial liabilities	7.2	362	400
Total current liabilities		1,803	1,641
TOTAL EQUITY AND LIABILITIES		7,647	7,024

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2021half-year financial report 1.2 Condensed consolidated statement of income 1.3 Condensed consolidated statement of comprehensive income

1.2 Condensed consolidated statement of income (in millions of euros)

	Notes	1s t HY 2021	1s t HY 2020
Revenues	3.1	3,431	2,660
Other revenues	3.1	3	5
Personnel		-2,363	-1,831
External expenses	3.6	-380	-372
Taxes other than income taxes		-13	-12
Depreciation and amortization		-108	-101
Amortization of intangible assets acquired as part of a business		-49	-54
combination
Depreciation of right-of-use assets (personnel-related)		-6	-6
Depreciation of right-of-use assets		-85	-91
Impairment loss on goodwill		0	-34
Share-based payments	3.4	-31	-10
Other operating income and expenses		-1
Operating profit		398	154
Income from cash and cash equivalents		3	2
Gross financing costs		-27	-22
Interest on lease liabilities		-20	-23
Net financing costs	7.1	-44	-43
Other financial income and expenses	7.1	0	-7
Financial result		-44	-50
Profit before taxes		354	104
Income tax	5	-99	-41
Net profit		255	63
Net profit - Group share		255	63
Net profit attributable to non-controlling interests
Earnings per share (in euros)	6.3	4.34	1.08
Diluted earnings per share (in euros)	6.3	4.31	1.08

1.3 Condensed consolidated statement of comprehensive income

(in millions of euros)

			1s t HY 2021	1s t HY 2020
	Net profit	255	63
	May not be reclassified to profit or loss in a subsequent period
	May be reclassified to profit or loss in a subsequent period
	Gains (losses) on hedging instruments (before tax)	-34	-13
	Income tax on gains (losses) on hedging instruments	9	5
	Translation differences	108	-124
	Other recognized income and expenses	83	-132
	Total comprehensive income (loss)	338	-69
	Group share	338	-69
	Attributable to non-controlling interests	0	0

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