SOLOCAL_Registration Document_2017

5

COMMENTS ON THE FINANCIAL YEAR 5.2 Financial review

FINANCIAL REVIEW 5.2

OVERVIEW 5.2.1

SoLocal Group generated revenues of €755.8 million in 2017 (for respectively 84% and 16% of Group revenues. The Internet activity the scope of continued activities excluding the entities divested in is driven by the two main digital activities, which are Local Search 2017), its Internet and Print & Voice activities representing and Digital Marketing.

INTERNET In 2017, SoLocal Group recorded €635.8 million Internet revenues, representing 84% of Group revenues.

Firstly, the Group offers digital services and solutions to l companies to increase their visibility and expand their contacts at the local level: in 2017, this Local Search activity recorded revenues of €461.3 million thanks to a sustainable and highly qualitative audience generated through our own brands (PagesJaunes, Mappy, Ooreka) and our privileged partnership (Google, Bing (Microsoft), Yahoo!, Apple and Facebook).

Secondly, the Group creates and makes available to internet l users the best local and personalised content on professionals: in 2017, this Digital Marketing activity represented revenues of €174.5 million. These highly differentiating technologies have been created over the last five years and have generated rapid growth (+18.1% in 2017 compared to 2016). They include the sites & content, local programmatic and transactional services.

PRINT & VOICE The Print & Voice activities generated €120.0 million in 2017. This PagesBlanches print directories (PagesJaunes, PagesBlanches), segment includes the Group’s activities dedicated to the publishing, as well as other activities of the Group called “Voice”, including distribution and sales of advertizing space in the PagesJaunes and telephone directory and reverse directory services.

COMMENTS ON THE 2017 FULL-YEAR RESULTS 5.2.2

During the 2017 financial year, the Group disposed of two non-strategic activities (“disposed activities”): avendrealouer.fr site, real estate classifieds business; l Chronoresto, online food ordering. l The accounts published by the Group as at 31 December 2017 are the following:

EBITDA as at 31 December 2017 is -€2.7 million compared to -€2.1 million as at 31 December 2016. In the presentation of its results and financial review, SoLocal Group isolates the momentum of the continued activities from that of the activities that it is disposing of. The comments on the financial performance indicators concern the scope of continued activities.

132 2017 Registration Document SOLOCAL