SOLOCAL_Registration Document_2017

COMMENTS ON THE FINANCIAL YEAR 5.2 Financial review

Recurring EBITDA by semester (in millions of euros)

12M 2017

H1 2017

12M 2016

H1 2016

Internet recurring EBITDA EBITDA/revenues margin Print & Voice recurring EBITDA

170.4

81.4 25%

187.6

89.5 28% 22.1 27%

27% 25.6 21%

29% 43.4 27%

9.6

EBITDA/revenues margin

15% 91.1 24% (1.5) 91.1 24%

RECURRING EBITDA FROM CONTINUED ACTIVITIES

196.0

231.0

111.6

EBITDA/revenues margin

26% (2.7)

29% (2.1)

28% (0.2)

1

Recurring EBITDA from divested activities CONSOLIDATED RECURRING EBITDA

193.3

228.9

111.6

EBITDA/revenues margin

25%

28%

28%

2

Income statement (in millions of euros) GROUP REVENUES Net external expenses

12M 2017

H1 2017

12M 2016 (1)

H1 2016 (1)

755.8

385.8

801.3

404.7

3

(192.4) (367.5) 196.0 (13.3) 182.7 (64.2) 118.5 237.6 356.1 (27.1) -7.6% 329.0

(101.4) (193.4)

(207.4) (362.9)

(105.5) (187.6)

Staff expenses

RECURRING EBITDA Non recurring items

91.1 (2.8) 88.2

231.0

111.6

(5.0)

(2.0)

EBITDA

226.0 (56.6) 169.4 (73.8)

109.5 (26.9)

4

Depreciation and amortization

(29.9)

OPERATING INCOME

58.4

82.7

Financial income

255.0 313.4 (7.5) 2.4% 305.8

(36.9)

INCOME BEFORE TAX Corporate income tax Corporate income tax rate

95.5

45.8

5

(41.8)

(20.6) 45.0%

-43.7%

NET INCOME FROM CONTINUED ACTIVITIES

53.8 (4.8) 49.0

25.2

Net income from divested activities

6.6

(0.2)

0.5

6

NET INCOME

335.5

305.7

25.2

Restated for the retrospective application of IAS 20 concerning the CIR. (1)

7

8

137

2017 Registration Document SOLOCAL