Slide 1: 2020 Results
BOLLOREN 2020 RESULTS MARCH 4, 2021
Slide 2: Contents
CONTENTS 1 Summary 3 2 Business review 17 3 Appendixes 29 2
Slide 3: 1 Summary
1 SUMMARY 3
Slide 4: Summary of 2020 Earnings
SUMMARY OF 2020 EARNINGS in millions of euros 2020 2019 Change ▪ Good results for all business lines despite the Revenue 24 109 24 843 (3%) pandemic. (1) EBITDA 3 265 2 913 12% Adjusted operating income: up 25% (+23% at constant scope and exchange rates) Adjusted operating income (EBITA(1)) 2 043 1
Slide 5: Group Structure
GROUP STRUCTURE: ▪ Universal Music Group ▪ Sale of 20% of UMG to a Tencent-led consortium 10% on March 31, 2020 for €2,842 million based on an enterprise value of €30 billion for 100% of UMG and another 10% on January 29, 2021 for €2,847 million. ▪ Vivendi plans to distribute 60% of UMG's share capi
Slide 6: Group Structure: Economic Organizational Chart
GROUP STRUCTURE: ECONOMIC ORGANIZATIONAL CHART AT 12/31/2020 (IN % OF SHARE CAPITAL) Sofibol and holdings(1): 57.01% Compagnie du Cambodge(2): 19.1% 92.6% Société Industrielle et Financière de l'Artois(2): 5.6% Financière de l’Odet SE Financière Moncey(2): 4.9% Imperial Mediterranean(2): 3.6% 64%(3)
Slide 7: Changes in the Stock Price
CHANGES IN THE STOCK PRICE PRICE ON 03/02/2021: €4.08 | MARKET CAPITALIZATION: €12.0 BILLION Since Δ (%) 01/01/21 10Y 6.0 Bolloré 20.5% 145.2% SBF 120 4.5% 52.1% 5.0 4.0 3.0 2.0 1.0 - Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Bolloré SBF 120 Indexed Source : Thomso
Slide 8: ESG Performance
ESG PERFORMANCE REMINDER OF CHANGES IN GOVERNANCE IMPLEMENTED IN 2020 ONGOING DIALOGUE WITH THE RATING AGENCIES Changes in governance in 2020: New ▪ Tighter Board of Directors (13 directors), more independent (36% independent), more female (45%). Environment & Social score = 1 ESG Global score = 45/
Slide 9: 2020 Results: Summary of Main Financial Items
2020 RESULTS SUMMARY OF THE MAIN 2020 FINANCIAL ITEMS in millions of euros 2020 2019 Change Revenue 24,109 24,843 (3%) (1) EBITDA 3,265 2,913 12% Depreciation and provisions (1,222) (1,279) (1) Adjusted operating income (EBITA ) 2,043 1,634 25.0% (1) Amortization resulting from PPA (393) (375) EBIT
Slide 10: Revenue
REVENUE CHANGE IN REVENUE BY BUSINESS Reported Organic in millions of euros 2020 2019 growth growth Transportation & Logistics 5,820 5,939 (2%) 1% Oil logistics 1,900 2,650 (28%) (29%) Communications 16,085 15,891 1% (1%) Electricity Storage and Systems 280 329 (15%) (3%) Other (Agricultural Assets,
Slide 11: Adjusted Operating Income (EBITA)
ADJUSTED OPERATING INCOME (EBITA) CHANGE IN EBITA BY ACTIVITY Bolloré Transport & Logistics EBITA Reported Organic Change by year (in millions of euros) in millions of euros 2020 2019 growth growth 637 607 56 Bolloré Transportation & Logistics 607 637 (5%) (2%) 527 545 56 34 Transportation & Logisti
Slide 12: Financial and Equity-Accounted Income
FINANCIAL AND EQUITY-ACCOUNTED INCOME FINANCIAL INCOME ▪ Financial income primarily includes in millions of euros 2020 2019 Change (€m) €591 million generated by the revaluation of the Spotify and Tencent Net dividends and income from investments in 34 23 11 Music securities (compared to €139 market
Slide 13: Changes in Cash
CHANGES IN CASH CHANGE IN NET DEBT (MILLIONS OF EUROS) - (2,000) Vivendi Operating cash flow: €2,017 million share buybacks, (4,000) purchases (8,720) of securities (9,136) (Lagardère, of which etc.) the sale (6,000) of 10% (1,481) 637 (404) of UMG, (279) etc. 3,265 (641) (8,000) (860) (27) (3,886)
Slide 14: Balance Sheet – Liquidity (1/2)
BALANCE SHEET – LIQUIDITY (1/2) SHAREHOLDERS’ EQUITY AND NET DEBT in millions of euros 2020 Bolloré Vivendi 2019 Bolloré Vivendi Change Shareholders' equity 25,984 9,563 16,422 25,942 9,779 16,163 42 of which Group share 9,084 9,088 (4) Net debt 9,136 4,183 4,953 8,720 4,656 4,064 415 (1) Gearing (%
Slide 15: Balance Sheet – Liquidity (2/2)
BALANCE SHEET – LIQUIDITY (2/2) CHANGES IN NET DEBT (MILLIONS OF EUROS) 11000 8,720 9,136 9000 7,528 7000 7,151 6,500 January 2021 5,058 After the sale of 10% of UMG at the 5,017 beginning of 2021 (€2.8bn) and the 5000 4,656 4,471 sale of 2% of Mediobanca (€0.2bn) 4,882 4,183 4,000 3000 31/12/18 30/
Slide 16: Dividend
DIVIDEND 2020 BOLLORÉ DIVIDEND CHANGE IN DIVIDENDS PAID (€ PER SHARE) ▪ Proposed dividend: €0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 (1) • including €0.02 interim already paid in 2020. 0.033 0.031 0.031 ▪ General Shareholders’ Meetings: May 26, 2021 0.030 ▪ Dividend detachment: June 10, 2021 0.02 0.0
Slide 17: 2 Business Review
Q BUSINESS REVIEW BOLLOREN
Slide 18: Transportation & Logistics
TRANSPORTATION & LOGISTICS KEY FIGURES MAIN 2020 FINANCIAL ITEMS Organic in millions of euros 2020 2019 Change Growth Revenue 5,820 5,939 (2%) 1% Bolloré Logistics 3,709 3,493 6% 8% Bolloré Africa Logistics 2,111 2,446 (14%) (10%) (1) EBITA 551 580 (5%) (2%) Investments(2) 199 229 (13%) ▪ EBITA: €55
Slide 19: Bolloré Logistics
BOLLORÉ LOGISTICS 2020 RESULTS ▪ Net revenue 2020: €3,709 million, + 8% at constant scope and exchange rates - Exceptional operations from Asia in the context of a health emergency (China, Vietnam, Korea for the most part) and the rise in air freight and sea freight prices largely offset the contrac
Slide 20: Bolloré Africa Logistics
BOLLORÉ AFRICA LOGISTICS 2020 RESULTS ▪ Net revenue 2020: €2,111 million, -10% at constant scope and exchange rates, reflecting the contraction of the logistics activities in Africa and the end of the Douala terminal (DIT) concession in Cameroon. ▪ 2020 results were impacted by: • Lower earnings fro
Slide 21: Bolloré Energy
BOLLORÉ ENERGY 2020 FINANCIAL ITEMS DISTRIBUTION AND OIL LOGISTICS NETWORK in millions of euros 2020 2019 Change Organic Growth Revenue 1,900 2,650 (28%) (29%) Operating income 56 56 (1%) (1%) Investments 2 17 (86%) ▪ Revenue: -29%, mainly as a result of a steep fall in the prices of oil products, a
Slide 22: Communications: Vivendi
COMMUNICATIONS VIVENDI 2020 RESULTS REPORTED BY VIVENDI KEY HIGHLIGHTS OF THE 2020 RESULTS in euro millions 2020 2019 Change ▪ Revenue virtually stable in organic terms (-0.6%) compared to Revenue 16,090 15,898 + 1% Adjusted operating income (EBITA) 1,627 1,526 2019; the increase in UMG (+4.7%) was
Slide 23: Communications: Universal Music Group and Canal+ Group
COMMUNICATIONS VIVENDI UNIVERSAL MUSIC GROUP CANAL+ GROUP 2020 RESULTS 2020 RESULTS in euro millions 2020 2019 Change in euro millions 2020 2019 Change Revenues 7,432 7,159 + 4% Revenues 5,498 5,268 + 4% EBITA 1,329 1,124 + 18% EBITA 435 343 + 27% ▪ Organic revenue growth: +5% ▪ Revenue: +4% (-0.9%
Slide 24: Communications: Havas and Editis
COMMUNICATIONS VIVENDI HAVAS EDITIS(1) 2020 RESULTS 2020 RESULTS in euro millions 2020 2019 Change in euro millions 2020 2019 Change Revenues 2,137 2,378 - 10% Revenue 725 687 + 6% EBITA 121 225 - 46% EBITA 38 52 - 27% ▪ Revenue: -10% (-11% organic) ▪ Revenue +6% (-1.3% organic) Net revenue(*): €2,0
Slide 25: Electricity Storage and Systems
ELECTRICITY STORAGE AND SYSTEMS 2020 FINANCIAL ITEMS Organic in millions of euros 2020 2019 Change Growth Revenue 280 329 (15%) (3%) EBITA (102) (434) + 76% + 77% Investments 37 82 (55%) ▪ Revenue: -3% • The decline in revenue from industrial activities (electricity storage, buses, plastic films, te
Slide 26: Brittany: Bluebus, Stationary Energy Storage and Plastic Films
BRITTANY BLUEBUS, STATIONARY ENERGY STORAGE AND PLASTIC FILMS KEY HIGHLIGHTS OF THE 2020 RESULTS ▪ Batteries (Blue Solutions) • Sales of 982 new-generation batteries to Daimler, Bluebus and Gaussin in 2020. Production growth of 150% compared to 2019. ▪ Bluebus • Sale of 10 buses of 6 metres, a bus o
Slide 27: Systems
SYSTEMS KEY HIGHLIGHTS OF THE 2020 RESULTS TECHNOLOGY ▪ IER/Automatic Systems • IER/AS results were heavily impacted by the effects of the health crisis. It delayed infrastructure deployments (access control systems, self-service terminals and ATMs), as well as those of our traceability solutions fo
Slide 28: Other Assets
OTHER ASSETS PORTFOLIO OF LISTED SECURITIES AT DECEMBER 31, 2020 ▪ Value of the listed securities portfolio at December 31, 2020: €6.0 billion ▪ This portfolio includes investments held by Bolloré (Mediobanca, Socfin, etc.) for €0.6 billion and by Vivendi (Telecom Italia, Mediaset, etc.) for €5.3 bi
Slide 29: 3 Appendixes
3 APPENDIXES BOLLOREN
Slide 30: Impact of the Covid-19 Crisis
IMPACT OF THE COVID-19 CRISIS ▪ In 2020, the Group with its broad geographic reach has successively faced the consequences of the current health crisis in the main countries in which it operates. The Group has been able to demonstrate resilience and adapt in order to continue to best serve its custo
Slide 31: Comparability of Financial Statements
COMPARABILITY OF FINANCIAL STATEMENTS ▪ Performance indicators • At December 31, 2020, the Bolloré Group did not change the definition of performance indicators, particularly EBITA, which are comparable to those of 2019, and therefore include the effects of the COVID-19 pandemic; ▪ Change in the sco
Slide 32: 2020 Consolidated Balance Sheet
2020 CONSOLIDATED BALANCE SHEET Assets - in millions of euros 31/12/2020 31/12/2019 (1) Liabilities - in millions of euros 31/12/2020 31/12/2019 Goodwill 16,057.5 16,728.8 Share capital 471.4 471.1 Non-current content assets 7,109.6 6,410.1 Share issue premiums 1,303.9 1,303.9 Intangible assets 4,92
Slide 33: 2020 Consolidated Income Statement
2020 CONSOLIDATED INCOME STATEMENT in millions of euros 2020 2019(1) Revenue 24,109.4 24,843.4 Goods and services bought-in (16,030.3) (17,037.0) Staff costs (4,912.1) (4,889.6) Amortization and provisions (1,615.6) (1,654.0) Other operating income 247.5 98.6 Other operating expenses (187.9) (125.5)
Slide 34: 2020 Statement of Flows
2020 STATEMENT OF FLOWS in millions of euros 2020 2019(1) Cash flow from operations Consolidated net income, Group share 425.6 237.4 Non-controlling interests 1,137.2 1,171.0 Consolidated net income 1,562.9 1,408.4 Non-cash income and expenses: 919.6 1,356.9 Other adjustments 743.9 168.1 Dividends r
Slide 35: Change in Shareholders' Equity
CHANGE IN SHAREHOLDERS' EQUITY Number of Share Share issue Actuarial Minority (in millions of euros) Treasury Fair value of financial assets Translation Reserves Shareholders’ TOTAL shares excl. capital premiums (losses) and interests shares adjustment equity, Group share treasury shares recyclable
Slide 36: Glossary
GLOSSARY ▪ Organic growth: growth at constant scope and exchange rates. ▪ Net revenue (Havas Group): revenue after deduction of re-billable costs. ▪ Adjusted operating income (EBITA): corresponds to operating income before amortisation of intangible assets related to business combinations ("PAA"): P