Financial Statements AdUX S.A. – 2020

FINANCIAL STATEMENTS 2020

2

Contents

Profit and loss statement for financial years 2020 and 2019.......................................................................................................

4

Balance sheets at December 31st, 2020 and December 31st, 2019.............................................................................................

5

Note 1.

Highlights Of FY 2020 ...............................................................................................................................................

7

Note 2.

Subsequent event to December 31st, 2020 ..............................................................................................................

8

Other post-closing events ..............................................................................................................................................................

8

Note 3.

Accounting principles and methods .........................................................................................................................

9

3.1.

Going concern assumptions.............................................................................................................................................

9

3.2.

Intangible assets ..............................................................................................................................................................

9

3.3.

Property, plant and equipment .....................................................................................................................................

10

3.4.

Permanent financial investments and current accounts of subsidiaries .......................................................................

10

3.5.

Receivables and related accounts..................................................................................................................................

10

3.6.

Short-term investment securities ..................................................................................................................................

10

3.7.

Treasury shares..............................................................................................................................................................

10

3.8.

Provisions for risks and expenses ..................................................................................................................................

10

3.9.

Recognition of revenue billed to advertisers.................................................................................................................

11

3.10.

Presentation of expenses to purchase spaces in the income statement ......................................................................

11

3.11.

Corporate tax .................................................................................................................................................................

11

3.1.

Retirement benefits .......................................................................................................................................................

11

Note 4.

Intangible assets ....................................................................................................................................................

12

Note 5.

Property, plant and equipment ..............................................................................................................................

13

Note 6.

Long-term investments ..........................................................................................................................................

13

Note 7.

Receivables and related accounts ..........................................................................................................................

14

Note 8.

Other receivables ...................................................................................................................................................

15

Note 9.

Cash and cash equivalents......................................................................................................................................

15

Note 10.

Deferred charges....................................................................................................................................................

15

Note 11.

Unrealized foreign exchange losses........................................................................................................................

16

Note 12.

Shareholders' equity ..............................................................................................................................................

16

12.1.

Changes in equity...........................................................................................................................................................

16

12.2.

Share capital ..................................................................................................................................................................

16

12.3.

Stock option plan and allocations of bonus shares .......................................................................................................

17

Note 13.

Provisions...............................................................................................................................................................

18

Note 14.

Borrowings from credit institutions .......................................................................................................................

18

Note 15.

Trade payables and related accounts .....................................................................................................................

19

Note 16.

Debts on fixed assets .............................................................................................................................................

19

Note 17.

Other liabilities ......................................................................................................................................................

19

FINANCIAL STATEMENTS 2020

3

Note 18.

Unrealized foreign exchange gains .........................................................................................................................

19

Note 19.

Accrued income and expenses ...............................................................................................................................

20

Note 20.

Turnover ................................................................................................................................................................

20

20.1.

By activity.......................................................................................................................................................................

20

20.2.

By geographical area......................................................................................................................................................

20

Note 21.

Operating expenses from ordinary activities..........................................................................................................

21

Note 22.

Financial net income ..............................................................................................................................................

21

22.1.

Financial expenses .........................................................................................................................................................

21

22.2.

Financial revenue...........................................................................................................................................................

21

Note 23.

Extraordinary result ...............................................................................................................................................

21

Note 24.

Corporate tax .........................................................................................................................................................

22

Note 25.

Off balance sheet commitments ............................................................................................................................

22

25.1.

Commitments received..................................................................................................................................................

22

25.2.

Off-balance sheet liabilities ...........................................................................................................................................

23

25.3.

Staff benefits..................................................................................................................................................................

23

Note 26.

Disputes .................................................................................................................................................................

23

Note 27.

Staff .......................................................................................................................................................................

23

Note 28.

Officers and directors.............................................................................................................................................

23

28.1.

Executive corporate officers ..........................................................................................................................................

23

28.2.

Non-executive corporate officers ..................................................................................................................................

23

Note 29.

Table of subsidiaries and affiliates .........................................................................................................................

24

FINANCIAL STATEMENTS 2020

4

Profit and loss statements for Financial Years 2020 and 2019

Thousand of €

Notes

Dec. 31, 2020

Dec. 31, 2019

Revenue from ordinary activities

2 167

3 564

Other

2 616

3 378

Net turnover

Note 20

4 783

6 942

Self-constructed assets

85

103

Adjustments to depreciation and provisions

48

334

Other income

52

75

Operating revenue

4 969

7 454

Operating expenses from ordinary activities

Note 21

- 2 070

- 3 346

Other purchases and external charges

- 1 719

- 1 930

Taxes, levies and similar payments

- 86

- 132

Wages and salaries

- 1 402

- 1 798

Social security charges

- 316

- 676

Depreciation on fixed assets

- 198

- 280

Provisions and impairment

- 77

- 587

Other expenses

- 67

- 119

Operating expenses

- 5 935

- 8 867

Operating income

- 966

- 1 413

Financial revenue

19 855

22 292

Interest and similar expenses

- 248

- 208

Book value of transferred assets

- 17 989

- 18 107

Provisions and impairment

- 1 323

- 2 586

Other

- 7

- 1 924

Financial expenses

- 19 566

- 22 826

Financial net income

Note 22

289

- 533

Proceeds from sales of assets

-

-

On management operations

80

-

Reversal of provisions

982

-

Extraordinary revenue

1 062

-

Book value of transferred assets

-

- 1

On management operations

- 848

- 148

Provisions and impairment

-

-

Extraordinary expenses

- 848

- 149

Extraordinary net result

Note 23

214

- 149

Net income before taxes

- 463

- 2 096

Taxes

Note 24

41

511

Net income

- 422

- 1 584

ASSETS - in thousands of euros

Notes

Dec. 31, 2020

Dec. 31, 2019

Gross

Amort. and

Net

Net

deprec.

Concessions, patents and software

10 041

9 807

234

271

Corporate goodwill

Intangible assets in progress

20

20

34

Intangible fixed assets

Note 4

10 061

9 807

255

305

0

Property, plant and equipment

140

193

83

110

Other property, plant and equipment

2 043

2 020

23

24

PPE

Note 5

2 236

2 104

132

164

0

Affiliates

93 623

81 186

12 437

12 526

Receivables related to affiliates

5 294

5 294

0

403

Deposits and sureties

120

120

119

Treasury shares

54

12

9

Other financial assets

35

35

35

Long-term investments

Note 6

99 126

86 480

12 604

13 091

0

Total fixed assets

111 423

98 390

12 991

13 560

0

Trade notes and accounts receivable.

Note 7

8 772

1 260

7 512

15 581

Other receivables

Note 8

29 320

7 442

21 878

26 098

Receivables

38 092

8 702

29 390

41 679

0

Short-term investment securities

66

58

27

Liquid assets

73

73

2 124

Cash and cash equivalents

Note 9

140

131

2 151

0

Prepaid charges

Note 10

19

19

73

Deferred charges

Unrealized foreign exchange losses

Note 11

65

65

643

0

Total current assets

38 316

8 702

29 605

44 546

0

Total assets

149 739

107 092

42 597

58 106