NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Management discussion and analysis of Neopost S.A.'s annual results

Maturity of suppliers debts

31 January 2018

31 January 2017

Trade payables Not overdue (including accrued invoices)

4.5

9.3

Overdue

-

-

TOTAL

4.5

9.3

Suppliers are contractually paid in 30 days.

Five-year results table

31/01/2014 31/01/2015 31/01/2016 31/01/2017

31/01/2018

Share capital Capital at year end closing

34.5

34.6

34.6

34.6

34.6

Number of shares

34,548,003

34,562,604

34,562,912

34,562,912

34,562,912

Operations and earnings Sales before tax

19.0

19.1

34.9

44.6

45.3

Earning before taxes, depreciation/amortization and provisions

45.0

64.2

40.5

277.0

83.3

Income taxes

12.2

8.0

6.6

1.9

9.9

Amortization expense and provisions

6.7

(1.7)

(0.2)

1.2

(14.3)

Net income

63.9

70.5

47.0

280.1

78.9

Distributed earnings

134.1

134.3

58.5

58.6

58.5

Earnings per share  (in euros) Earnings after tax, before depreciation/amortization and provisions Earnings after tax, depreciation/amortization and provisions

1.66

2.09

1.36

8.07

2.70

1.85

2.04

1.36

8.10

2.28

Dividends paid

3.90

3.90

1.70

1.70

1.70

Employees Average workforce

31

33

34

35

35

Payroll

6.2

6.4

5.6

5.6

5.6

Employee benefits paid (Social security, social welfare)

3.8

3.7

3.7

2.8

4.9

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REGISTRATION DOCUMENT 2017 / NEOPOST