The Group Has Applied IFRS 16, Leases, Since January 1, 2019 Using the Retrospective Approach, Without Restating Comparative Prior Periods
Société anonyme. Share capital: €13,109,880 Registered office: 16, rue de la Ville l’Evêque – 75008 Paris, France Registered in Paris under no. 342 376 332 The Group has applied IFRS 16, Leases, since January 1, 2019 using the retrospective approach, without restating comparative prior periods. The income statement, balance sheet and segment information have been adjusted accordingly. Further to the application of IFRS 16, the Group amended its key profitability indicator to EBITDAaL (EBITDA after Leases) with effect from January 1, 2019. ANALYSIS OF THE GROUP’S BUSINESS AND RESULTS KEY CONSOLIDATED FINANCIAL DATA In € millions 2019 2018 INCOME STATEMENT Total revenues 5,332 4,891 Services revenues 5,115 4,692 EBITDAaL 1,654 1,755 Profit from ordinary activities 444 690 Profit for the period 1,726 330 Profit for the period attributable to owners of the Company 1,719 323 BALANCE SHEET Non-current assets 13,384 9,960 Current assets 4,209 1,277 Of which cash and cash equivalents 1,593 181 Assets held for sale 563 15 Total assets 18,156 11,252 Total equity 5,231 3,606 Non-current liabilities 7,315 4,974 Current liabilities 5,610 2,672 Liabilities held for sale - - Total equity and liabilities 18,156 11,252 CASH FLOWS Cash flows from operations 2,186 1,693 Right-of-use assets and interest expense on lease liabilities – IFRS 16 impact (585) - Capital expenditure – France (1,607) (1,555) Capital expenditure – Italy (369) (261) Capital expenditure – frequencies1 (252) (605) Net change in cash and cash equivalents – Group (excluding change in net 430 (1,444) debt and dividends) Dividends (59) (40) Net debt 3,609 3,983 1Including €225 million in 2019 and €61 million in 2018 for Italy.
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