Slide 1: 2018 Results
2018 RESULTS MARCH 14, 2019
Slide 2: Sommaire
SOMMAIRE 1 2018 Summary Results 3 2 Review of operations | 2018 Results 15 3 Appendix 30 2
Slide 3: 2018 Summary Results
2018 SUMMARY RESULTS Bollore\
Slide 4: Change in the Share Price
BOLLORÉ GROUP CHANGE IN THE SHARE PRICE SHARE PRICE AT 03/12/2019: €3.87 | MARKET CAPITALIZATION: €11.3bn Since Δ (%) 01/01/1 1 year 10Y 6.0 Bolloré 10.6% (13.8%) 387.0% SBF 120 11.3% (1.4%) 114.7% 5.0 4.0 3.0 2.0 1.0 ‐ Mar‐09 Mar‐10 Mar‐11 Mar‐12 Mar‐13 Mar‐14 Mar‐15 Mar‐16 Mar‐17 Mar‐18 Mar‐19 Bol
Slide 5: 2018 Summary Results (1)
BOLLORÉ GROUP 2018 SUMMARY RESULTS (1) KEY POINTS Group Revenue: €23,024m, +7% at constant scope and exchange rates (+26 % on a reported basis, including the €13,924m contribution from Vivendi, fully consolidated since April 26, 2017) Good operating results across all segments: €1,301m, +25% at
Slide 6: Group Structure
BOLLORÉ GROUP GROUP STRUCTURE ECONOMIC ORGANIZATIONAL CHART AT 12/31/2018 (in % of share capital) (1) Sofibol: 55.3% 90.8% (2) Compagnie du Cambodge: 19.1% (2) Société Industrielle et Financière de l'Artois: 5.6% (2) Financière Moncey : 4.9% Financière de l'Odet (2) Impérial Mediterranean: 3.6% (2)
Slide 7: Summary of the Main Financial Elements for 2018
BOLLORÉ GROUP 2018 RESULTS SUMMARY OF THE MAIN FINANCIAL ELEMENTS FOR 2018 in millions of euros 2018 2017* Change Revenue 23 024 18 337 + 26% Taxes: ‐€506m compared to €700m in 2017, (1) which included €1,012m of non‐recurring EBITDA 2 728 2 054 + 33% favorable items(3). Depreciation, amortization a
Slide 8: Revenue
BOLLORÉ GROUP REVENUE CHANGE IN REVENUE BY ACTIVITY (1) 2018 2017 Reported Organic in millions of euros (2) growth growth Transportation & Logistics 6 007 5 666 + 6% + 9% Oil logistics 2 699 2 162 + 25% + 25% (1) Communications (Havas, Media, Telecoms, Vivendi) 13 985 10 174 + 37% + 4% Electricity S
Slide 9: Operating Income
BOLLORÉ GROUP OPERATING INCOME CHANGE IN OPERATING INCOME (OI) BY BUSINESS SECTOR OI TRANSPORTATION & LOGISTICS in millions of euros 2018 2017* Change Half year evolution (in millions of euros) Bolloré Transportation & Logistics 545 527 + 3% + 4% + 5% 256 (1) 255 Transportation & Logistics 511 491 +
Slide 10: Financial and Equity-Accounted Income
BOLLORÉ GROUP FINANCIAL AND EQUITY‐ACCOUNTED INCOME CHANGE IN 2018 FINANCIAL INCOME Financial income: + €140m vs. €119m This mainly includes the revaluation of in millions of euros 2018 2017 Change Spotify and Tencent Music securities (€311m). However, the capital gain on Net dividends and income
Slide 11: Change in Net Debt
BOLLORÉ GROUP CHANGE IN NET DEBT CHANGE IN NET DEBT (€M) Increase in net debt: €41m ‐ Increased shareholding in Vivendi, representing a financial investment (1 000) of €2.5bn and disposals of shareholdings in Ubisoft, Fnac (2 000) Darty and Telefonica totaling (4 841) (253) (4 882) €2.2bn. (605) (
Slide 12: Balance Sheet – Liquidity
BOLLORÉ GROUP BALANCE SHEET – LIQUIDITY SHAREHOLDERS’ EQUITY AND NET DEBT in millions of euros 2018 Bolloré Vivendi FC 2017* Bolloré Vivendi FC Change Shareholders' equity 28 204 9 986 18 218 31 091 11 035 20 056 (2 887) of which Group share 9 234 10 430 (1 196) Net debt 4 882 5 058 (176) 4 841 2 50
Slide 13: Dividend
BOLLORÉ GROUP DIVIDEND 2018 DIVIDEND CHANGE IN DIVIDENDS PAID (€ PER SHARE) Proposed dividend: €0.06 including an interim dividend of €0.02 already 0.06 0.06 0.06 0.06 0.06 (1) paid in 2018; Payable in cash or in shares; Maximum amount of €174m. 0.033 0.031 0.031 0.030 General Shareholders’ Meet
Slide 14: Group Structure
BOLLORÉ GROUP GROUP STRUCTURE Increased shareholding in Vivendi In 2018, the Group acquired 6% of the share capital and exercised call options for 1.6% of the share capital. The Group’s interest was increased from 20% to 26%(1). The additional investment in 2018 was €2.5bn. Sale of non‐controlli
Slide 15: Review of Operations | 2018 Results
REVIEW OF OPERATIONS | 2018 2 RESULTS 15 15
Slide 16: Bolloré Transport & Logistics
BOLLORÉ TRANSPORT & LOGISTICS BOLLORÉ TRANSPORT & LOGISTICS OPERATOR OF THREE RAILWAY CONCESSIONS A GLOBAL PORT OPERATOR IN AFRICA › Operating 21 port concessions worldwide › Sitarail: Côte d’Ivoire – Burkina Faso › Leading port concession operator in Africa › Camrail: Cameroon › Operating 15 ports
Slide 17: Transportation and Logistics
BOLLORÉ TRANSPORT & LOGISTICS TRANSPORTATION AND LOGISTICS KEY FIGURES MAIN FINANCIAL ELEMENTS 2018 in millions of euros 2018 2017* Change Organic Growth Transportation & Logistics Revenue Bolloré Logistics 3 531 3 298 + 7% + 9% Bolloré Africa Logistics 2 476 2 368 + 5% + 9% Revenue 6 007 5 666 + 6%
Slide 18: Bolloré Logistics
BOLLORÉ TRANSPORT & LOGISTICS BOLLORÉ LOGISTICS 2018 RESULTS › 2018 revenue: €3,531 million, +9% at constant scope and exchange rates due to higher revenue in freight forwarding and logistics, which benefited both from a general increase in the air and sea volumes handled and from increased freight
Slide 19: Bolloré Africa Logistics
BOLLORÉ TRANSPORT & LOGISTICS BOLLORÉ AFRICA LOGISTICS 2018 RESULTS › Revenue 2018: €2,476, +9% at constant consolidation scope and exchange rates, which reflects the high growth in volume of nearly all port terminals as well as a sharp increase in logistics activities. Rail volume rose due to growt
Slide 20: Bolloré Energy
BOLLORÉ TRANSPORT & LOGISTICS BOLLORÉ ENERGY FINANCIAL ITEMS 2018 OIL DISTRIBUTION AND LOGISTICS NETWORK in millions of euros 2018 2017* Change Revenue 2 699 2 162 + 25% Operating income 34 36 ‐ 6% Investments 30 64 ‐ 52% › Revenue: +25% benefits from higher prices for oil products and a slight in
Slide 21: Communications
COMMUNICATIONS COMMUNICATIONS FINANCIAL ITEMS 2018 in millions of euros 2018 2017 Change Revenue 13 985 10 174 + 37% Operating income 940 780 + 20% Investments 599 461 + 30% Revenue: €13,985 million, +37% (+4% at constant scope and exchange rates) In the financial statements reported by Vivendi, gro
Slide 22: Vivendi
COMMUNICATIONS VIVENDI 2018 RESULTS PUBLISHED BY VIVENDI KEY ITEMS ON THE 2018 RESULTS in euro millions 2018 2017 Change Revenue: €13,932 million, strong improvement +11% (+5% at constant Revenue 13 932 12 518 + 11% scope and exchange rates) driven largely by the growth of Universal EBITA 1 288 969
Slide 23: Vivendi: Universal Music Group and Canal+ Group
COMMUNICATIONS VIVENDI UNIVERSAL MUSIC GROUP CANAL+ GROUP 2018 RESULTS (published by Vivendi) 2018 RESULTS (published by Vivendi) in euro millions 2018 2017 Change in euro millions 2018 2017 Change Revenues 6 023 5 673 + 6% Revenues 5 166 5 198 ‐ 1% EBITA 902 761 + 18% EBITA 400 300 + 34% Revenue: €
Slide 24: Vivendi: Havas and Other
COMMUNICATIONS VIVENDI HAVAS OTHER (GAMELOFT – VIVENDI VILLAGE – NOUVELLES INITIATIVES, CORPORATE) 2018 RESULTS (published by Vivendi) 2018 RESULTS (published by Vivendi) in euro millions 2018 in euro millions 2018 2017 Revenues 2 319 Revenues 424 436 EBITA 215 EBITA (229) (203) Revenue| Net revenue
Slide 25: Media and Telecoms
COMMUNICATIONS MEDIA AND TELECOMS KEY FIGURES 2018 CNEWS MATIN Average total distribution (print and digital) of 886,000 copies, down slightly from 2017 (‐1.1%). CNEWS matin is the leading outlet in the nation among free daily newspapers (print distribution). TELECOMS Wifirst Sales of a wireless
Slide 26: Electricity Storage and Solutions
ELECTRICITY STORAGE & ELECTRICITY STORAGE AND SOLUTIONS SOLUTIONS BLUE SOLUTIONS, BLUE APPLICATIONS, PLASTIC FILM FINANCIAL ITEMS 2018 in millions of euros 2018 2017 Change Revenue 312 314 ‐ 1% Organic growth 1% 9% Operating income (152) (164) na Investments 69 146 › Revenue(1): €312 million (+1%)
Slide 27: Blue Solutions
ELECTRICITY STORAGE & BLUE SOLUTIONS SOLUTIONS 2017 RESULTS PUBLISHED BY BLUE SOLUTIONS CHANGE IN THE SHARE PRICE SINCE THE IPO3 45 IPO: Oct 30, 2013, €14.50 Simplified public tender offer ‐ (OPAS): July 6, 2017, €17 in millions of euros 2018 2017 Change 40 Revenue 38 81 ‐ 53% 35 EBITDA (14) (4) na
Slide 28: Blue Applications
ELECTRICITY STORAGE & BLUE APPLICATIONS SOLUTIONS MOBILITY AND STATIONARY 2018 FIGURES Bluebus Sale of 18 in the 6‐meter class, and 23 in the 12‐meter class in 2018; Order from the RATP for 41 buses in the 12‐meter class, delivery scheduled in 2019; Response to the RATP’s major call for tender
Slide 29: Other Assets
OTHER ASSETS OTHER ASSETS PORTFOLIO OF LISTED SECURITIES AT 31/12/2018 AND AGRICULTURAL ASSETS Investments in securities: After disposals of Vivendi's stakes in Ubisoft (€2bn, of which €1.6bn in 2018 and €0.4bn in 2019), Fnac‐Darty (€0.3bn) and Telefonica (€0.4bn), the valuation of the securities
Slide 30: Appendix
APPENDIX Bollore\
Slide 31: Comparability of Financial Statements (1/3)
BOLLORÉ GROUP COMPARABILITY OF FINANCIAL STATEMENTS (1/3) NEW REPORTING STANDARDS APPLIED FROM JANUARY 1, 2018 IFRS 15 – “Revenue from Contracts with Customers” No material impact on revenue or on consolidated operating income Bolloré nevertheless elected to apply this change in accounting stand
Slide 32: Comparability of Financial Statements (2/3)
BOLLORÉ GROUP COMPARABILITY OF FINANCIAL STATEMENTS (2/3) Transitional statements of 2017 Restated Income Statements as of December 2017 FYE 2017 ‐ INCOME STATEMENT 2017 2017 In millions of euros Published Restated Revenue 18 325 18 337 Goods and services bought in (12 496) (12 526) Staff costs (3
Slide 33: Comparability of Financial Statements (3/3)
BOLLORÉ GROUP COMPARABILITY OF FINANCIAL STATEMENTS (3/3) Transitional statements 2017 Balance Sheet restated as of December 31, 2017 and of January 1, 2018 Dec. 31, 2017 Jan. 1, 2018 Dec. 31, 2017 Jan. 1, 2018 In millions of euros In millions of euros Published Restated Published Restated ASSETS
Slide 34: 2018 Consolidated Balance Sheet
FINANCIAL RESULTS 2018 CONSOLIDATED BALANCE SHEET st st (1) st st Assets ‐ in millions of euros Dec. 31 , 2018 Dec. 31 , 2017 Liabilities ‐ in millions of euros Dec. 31 , 2018 Dec. 31 , 2017 Goodwill 14 439 13 988 Share capital 469 468 Intangible assets 10 061 9 932 Share issue premiums 1 266 1 237
Slide 35: 2018 Consolidated Income Statement
FINANCIAL RESULTS 2018 CONSOLIDATED INCOME STATEMENT st st (1) In millions of euros Dec. 31 , 2018 Dec. 31 , 2017 Revenue 23 024 18 337 Goods and services bought in (16 041) (12 526) Staff costs (4 554) (3 942) Amortization and provisions (1 427) (939) Other operating income 488 268 Other operating
Slide 36: 2018 Table of Flows
FINANCIAL RESULTS 2018 TABLE OF FLOWS (1) (1) In millions of euros 2018 2017 In millions of euros 2018 2017 Cash flow from operations Cash flow from investment activities Di s burs ements rela ted to acqui s itions : Consolidated net income, Group share 235 695 ‐ property, plant and equipment (561)
Slide 37: Changes in Shareholders' Equity
FINANCIAL RESULTS CHANGES IN SHAREHOLDERS’ EQUITY Number of shares Share Share Treasury Fair value of financial Translation Actuarial Reserves Shareholders’ Minority TOTAL (in millions of euros) excl. treasury shares capital issue shares assets reserves (losses) equity, Group interests premiums and
Slide 38: Group Structure
Sofibol GROUP STRUCTURE Financière de l'Odet 55.3(6) (92.2) 19.1 (0.0) Compagnie du Cambodge** 5.6 (0.0) Société Industrielle et Financière de l'Artois** 4.9 (0.0) Financière Moncey** ECONOMIC ORGANIZATIONAL CHART AT 9.2* 3.6 (0.0) Imperial Mediterranean ** 2.3 (0.0) Nord-Sumatra Investissements **