SOLOCAL_Registration Document_2017

5

COMMENTS ON THE FINANCIAL YEAR 5.2 Financial review

PRESENTATION OF THE CONSOLIDATED CASH FLOW STATEMENT WITH THE DETAIL

5.2.2.4

FOR “CONTINUED ACTIVITIES” AND “DIVESTED ACTIVITIES”

Cash flow statement (in millions of euros)

As at December 2017 As at December 2016

Change -15.2% -79.1% -27.2% -21.3% +55.0% -20.6% +253.8%

RECURRING EBITDA FROM CONTINUED ACTIVITIES Non cash items included in EBITDA and other

196.0

231.0

1.7

8.0

Net change in working capital

(41.3) (52.9) (55.8) (25.8) (44.6) (22.8)

(56.8) (67.2) (36.0) (32.5) (12.6)

Acquisition of tangible and intangible fixed assets

Cash financial income Non recurring items Corporate income tax paid

FREE CASH FLOW FROM CONTINUED ACTIVITIES

33.9 (3.3) 30.6

NA

Free cash flow from divested activities

(2.8)

-14.2%

FREE CASH FLOW

(25.6) (263.9)

NA

Increase (decrease) in borrowings (1)

1.7 0.0 5.3

na na

Capital increase

272.7 12.0 (4.9) 91.0 86.1

Other

+125.6%

NET CASH & CASH EQUIVALENTS VARIATION Net cash & cash equivalents at beginning of period NET CASH & CASH EQUIVALENTS AT END OF PERIOD

37.7 53.3 91.0

NA

+70.7%

-5.4%

See "Cash and cash equivalents, net financial debt" Table (Note 10.6 in Chapter 6). (1) 

FINANCIAL INFORMATION 5.2.3

Revenues by quarter

12M 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2017

12M 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2016

(in millions of euros) INTERNET REVENUES

635.8 172.1 145.5 158.2 160.2 637.8 168.6 153.5 161.7 154.0 461.3 120.3 106.6 115.4 119.1 489.9 127.3 119.6 125.7 117.4

Local Search

Number of visits (in million) (1)

2428

594 262 459

617 229 466

604 242 476

614 250 477

2371

597 264 481

599 244 490

596 253 496

578 232 506

ARPA (2) (in euros)

984 469

991 494

Number of clients (in thousand)

Digital Marketing

174.5 51.8 38.9 42.8 41.1 147.8 41.3 33.9 36.0 36.6

Penetration rate (in number of clients) (3) PRINT & VOICE REVENUES REVENUES FROM CONTINUED ACTIVITIES

24% 24% 24% 24% 24% 24% 24% 23% 23% 23% 120.0 28.4 29.3 36.4 26.0 163.5 39.4 41.1 50.2 32.8

755.8 200.4 174.7 194.5 186.2 801.3 208.0 194.6 211.9 186.8

Revenues from divested activties

9.1 3.2 CONSOLIDATED REVENUES 764.9 201.9 177.2 197.0 188.8 812.3 210.4 197.2 214.8 190.0 1.5 2.5 2.5 2.6 11.0 2.4 2.6 2.9

Excluding avendrealouer.fr website. (1) Average Revenue Per Advertiser. (2) % of Internet clients benefiting from a Digital marketing product. (3)

136 2017 Registration Document SOLOCAL