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Site De Rencontre Français Gratuit 2021

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Compagnie de l'Odet : Get-go-one-half 2021 results

COMPAGNIE DE L'ODET

First-one-half 2021 results

30 July 2021

Good results
for all the Group's business activities

  • Revenue: €12,786 million, + 13 % at abiding scope and substitution rates.

    • Adjusted operating income (EBITA ( 1 ) ): €one,308 million, +43% at constant scope and exchange rates:

  • Bolloré Ship & Logistics:

+ €335m

+xv%

  • Communications:

+ € 1,066m

+49%

  • Electricity Storage and Systems:

-€50m

an improvement of +€17m

  • Net income, Group share: €100 one thousand thousand, upward +19%, which does not include the upper-case letter gain on the sale on 29 Jan 2021 of 10% of the capital letter of Universal Music Grouping (UMG) on the basis of an enterprise value of €xxx billion for 100%, recognised in disinterestedness for €2.viii billion.
    Total cyberspace income stands at €vi 28 m (-one 6 %) given the driblet in the share prices of Spotify and Tencent Music Amusement securities afterwards a sharp increment in the offset half of 2020.

  • Internet debt: €6,947 million, down -€ii,155 million compared to December 31, 2020. G earing: 25% vs. 38% at the end of 2020.

  • Maintaining a loftier level of liquidity at € 3 . 3 billion as of June xxx, 2021, excluding Vivendi's undrawn confirmed credit lines and liquid investments.

First-half 2021 results

At its meeting on July 30, 2021, the Board of Directors of Compagnie de l'Odet canonical the financial statements for the outset half of 2021.

Commencement-half 2021 revenue amounted to €12,786 million, up 13% at abiding telescopic and exchange rates:

  • Ship and Logistics increasing: €3,223 million, up 15%:
    • Bolloré Logistics: +19%, benefiting from high levels of activity in the sea and air sectors;

    • Bolloré Africa Logistics: +8% driven by growth in port terminals;

  • Oil Logistics: €1,165 million, +12% owing to the increase in oil-product prices and volumes (trading);
  • Communications: €8,219 million, +12%, mainly attributable to growth in the main business lines with UMG (+17%), Culvert+ Group (+5%) and Havas (+7%) every bit activity picked up in the second quarter;
  • Electricity Storage and Systems: €174 million, +43%, due to the increase in sales of batteries and 12-meters buses.

On a reported ground, revenue increased +ten%, including +€64 million in changes in scope and -€340 million in foreign commutation impacts (resulting from the pass up in the US dollar and other currencies).

Adjusted operating income ( EBITA ( 2 ) ) came out at €1,308 million, upward 43% at constant scope and exchange rates:

  • Transport and Logistics: €312 million, +22%, given the good functioning of port terminals and the freight forwarding;
  • Oil Logistics: €23 million, -34%, later an infrequent first half of 2020 in the context of the lockdown;
  • Communications (Vivendi): €1,066 million, +49%, cheers to solid performances by UMG, Canal+ Group, Havas and Editis;
  • Electricity Storage and Systems: -€50 million, an comeback of +€17 million on a reported basis compared with 2020, linked to the cessation of car-sharing activities as part of the strategic redeployment in batteries and buses.

Financial income amounted to -€122 meg, compared with +€444 million in the commencement half of 2020. It mainly includes -€170 1000000 in devaluations of Spotify and Tencent Music securities (versus +€449 million of revaluation in the offset half of 2020) and €102 meg in dividends from Mediaset (received on July 22, 2021).

The cyberspace income of equity-accounted non-operating companies totaled -€25 million, compared with -€91 million in the first half of 2020. It mainly includes Telecom Italia's contribution to Vivendi. In 2020, it included a provision on Mediobanca that has not been consolidated since Oct 2020( 3 ).

After accounting for -€326 million in tax (compared with -€353 1000000 in the beginning half of 2020 attributable), consolidated net income amounted to €628 million, compared with €750 million in the showtime half of 2020.
Net income Group share came out at €100 million, compared with €84 one thousand thousand in the kickoff half of 2020.

Net debt amounted to €half-dozen,947 million versus €9,102 million at December 31st, 2020, due to:

  • the reduction in Vivendi's debt (-€2.1 billion) following the receipt of €2.viii billion related to the disposal of an additional 10% of UMG on January 29, 2021;

  • the reduction in Bolloré'south debt excluding Vivendi (-€0.ii billion) given the disposal of an boosted 2% of Mediobanca in January 2021 for €192 million.

Shareholders' disinterestedness amounted to €28,140 million (€24,137 meg at 31 December 2020), an improvement of
€four,003 1000000, particularly given the impact of the sale of an boosted 10% of UMG to Tencent on January 29, 2021 (+€ii.8 billion).

On June 30, 2021, the Grouping'due south liquidity position, undrawn confirmed lines and liquid investments represented
€iii.three billion for Compagnie de l'Odet, excluding credit lines and investments at Vivendi level.

  • Universal Music Group (UMG)

  • Additional sale of 10% of UMG to Tencent

On January 29, 2021, Vivendi finalized the auction of an additional 10% of the share capital of UMG to the consortium led past Tencent based on an enterprise value of €xxx billion for 100% of UMG'due south share capital. This transaction resulted in an inflow of €2,847 1000000 for Vivendi. The Tencent-led consortium now owns xx% of UMG.

  • Blessing of the proposed distribution to shareholders of 60% of the UMG shares

Vivendi's General Shareholders' Meeting of June 22, 2021 canonical the proposed infrequent distribution in kind of 60% of UMG shares at 99.9%. UMG'due south listing on the regulated market of Euronext Amsterdam and the disengagement of the distribution are scheduled for 21 September ( 4 ) .

  • Planned disposal of 5 to x% of UMG to Pershing Square

Vivendi accepted PSTH's request that Pershing Foursquare investment funds, endemic by Mr. William Ackman, be substituted for the acquisition of x% of the uppercase of UMG appear on June 20.
The share of UMG's capital, which will ultimately be caused past these funds, volition be betwixt 5% and 10%. If this proportion proves to be less than 10%, Vivendi still intends to sell the difference to other investors.

  • Purchase of Vivendi shares

During the first half of the twelvemonth, Compagnie de 50'Odet acquired half dozen million Vivendi shares at an boilerplate cost of €28.31 per share and for a total amount of €170 million. To date, Compagnie de l'Odet holds 0.54% of Vivendi's share capital. With the stake held by Compagnie de Cornouaille - a wholly-owned subsidiary of Bolloré - the Group'due south total stake later on cancellation of the shares carried out at the stop of July is 29.five%.

****
***
*

Consolidated central figures for Compagnie de 50'Odet

(in € millions)

H1 2021

H1 2020

Modify 2020-2021

Acquirement

12,786

11,612

10%

EBITDA (ane)

1,650

1,449

14%

Depreciation and provisions

(341)

(506)

Adapted operating income ( EBITA ( ane) )

i,308

943

39%

Amortization resulting from PPAs (1)

(208)

(194)

EBIT

1,101

749

47%

o/w operating disinterestedness assembly

29

4

Financial income

(122)

444

Share of the net income of disinterestedness-accounted non-operating companies

(25)

(91)

Taxes

(326)

(353)

Cyberspace income

628

750

(sixteen%)

Net income Group share

100

84

19%

Minority interests

528

666

(21%)

June xxx,
2021

December 31, 2020

Change 2020-2021

Shareholders' eastward quity

28,140

24,137

iv,003

o/west Group share

four,845

3,884

960

Group n et debt

6,947

9,102

(2,155)

Gearing (2)

25%

38%

(i) See glossary
(ii) Gearing: net debt/disinterestedness ratio

Change in revenue by business action in the commencement half

(in € millions)

H1

H1

Reported

Organic

H1

2021

2020

growth

growth

2019

Transportation and Logistics

3,223

2,856

thirteen%

fifteen%

2,974

Oil logistics

1,165

1,046

11%

12%

ane,278

Communications

8,219

7,574

9%

12%

7,351

Electricity Storage and Systems

174

122

42%

43%

160

Other (Agricultural Assets, Belongings)

5

13

(63%)

(63%)

17

Total

12,786

11,612

10%

13%

11,780

Alter in revenue per quarter

(in € millions)

Q1

Q2

2021

2020 Organic growth

2020 reported growth

2021

2020
Organic growth

2020 reported growth

Transportation and Logistics

i,555

1,358

one,394

1,668

1,453

1,462

Oil logistics

565

630

631

600

413

415

Communications

iii,900

3,713

three,868

four,319

iii,634

three,706

Electricity Storage and Systems

fourscore

64

65

94

58

58

Other (Agricultural Assets, Belongings)

2

eight

eight

3

6

6

Full

6,102

five,773

five,966

six,684

5,563

5,646

All amounts are expressed in millions of euros and rounded to the nearest decimal. Every bit a issue, the sum of the rounded amounts may differ slightly from the reported total.

Adjusted operating income past business organisation activeness (EBITA)

(in € millions)

H1 2021

H1 2020

Reported growth

Organic
growth

H1 2019

Bolloré Transport ation & Logistics

335

303

xi%

xv%

309

Transportation & Logistics (1)

312

268

17%

22%

284

Oil logistics

23

35

(34%)

(34%)

25

Electricity Storage and Systems

(50)

(67)

25%

17%

(81)

Advice s

1,066

735

45%

49%

718

Other (Agronomical Avails, Holding)( 1)

(43)

(28)

(52%)

(54%)

(28)

Group EBITA

i,308

943

39%

43%

918

(1) Before Bolloré trademark fees

The limited review procedures for the 2021 half-yearly consolidated financial statements have been carried out and the certification study volition exist issued afterwards verification of the half-yearly activeness written report.

*****
***
*

Comparability of financial statements | I nformation on the impacts of COVID-19

As of June 30, 2021, the Bolloré Group had not adjusted the definition of functioning indicators, including EBITA, which are comparable to those of 2020.

  • Change in scope of consolidation

Prisma Media has been consolidated by Vivendi since June1st, 2021.

  • Evolution of master currencies

Boilerplate rate

H1 2021

H1 2020

Modify

USD

one.20

1.10

(nine%)

GBP

0.87

0.87

1%

PLN

four.54

iv.41

(three%)

JPY

129.80

119.21

(9%)

CNY

vii.79

7.75

(1%)

ZAR

17.52

18.33

4%
  • Exceptional distribution project in kind of 60% of UMG by Vivendi

The financial statements as at June 30, 2021 practice not include any affect resulting from this transaction, which is nevertheless subject to conditions precedent.

  • Data on the impacts of COVID-19

During the first half of 2021, the Grouping'due south activities showed good resilience, peculiarly in Transportation, and at Vivendi in music and pay tv. Given the good performance of the business concern lines, the Grouping did not identify any impairment losses in the first one-half of 2021. It however benefits from a high level of liquidity. Nonetheless, the Group continues to assess on an ongoing basis the current and potential consequences of the wellness crisis, which are still temporarily weighing on certain activities due to the restrictive measures taken by governments to curb the epidemic, while remaining confident in its resilience and capacity for adaptation.

Glossary

  • Organic growth: growth at constant scope and exchange rates.

  • Net revenue (Havas Group): revenue afterwards deduction of re-billable costs

  • Adjusted operating income (EBITA): operating income before acquittal of intangible avails related to business organisation combinations ("PPA": Purchase Price Allocation), harm of goodwill and other intangible assets related to business combinations.

  • EBITDA: operating income before depreciation and amortization.

  • Cyberspace fiscal debt / Internet cash position: sum of borrowings at amortized toll, less cash and cash equivalents, cash management fiscal assets and cyberspace derivative financial instruments (assets or liabilities) with an underlying net fiscal indebtedness, as well as cash deposits backed by borrowings.

The not-GAAP measures defined to a higher place should be considered in addition to, and not as a substitute for, other GAAP measures of operational and financial performance, and Compagnie de 50'Odet considers these to exist relevant indicators of the Group's operational and financial performance. Furthermore, it should be noted that other companies may define and calculate these indicators differently. It is therefore possible that the indicators used by Compagnie de l'Odet cannot be directly compared with those of other companies.

The percentages changes indicated in this document are calculated in relation to the same period of the preceding fiscal twelvemonth, unless otherwise stated. Due to rounding in this presentation, the sum of some information may non correspond exactly to the calculated full and the percentage may not stand for to the calculated variation.

one See glossary
ii Encounter glossary

3 Following the loss of significant influence, due in particular to the reduction of the pale.

4 Bailiwick to approving of the transaction past the AFM and to the decision of the payment of an infrequent interim dividend by Vivendi.

Zipper

  • 2021-07-30-Odet -CP-résultats S1 2021 UK terminal

Site De Rencontre Français Gratuit 2021,

Source: https://finance.yahoo.com/news/compagnie-lodet-first-half-2021-154500677.html

Posted by: andinoalearand.blogspot.com

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