100 / 354
9
Operation and financial review
Financial Review
100
Worldline
2016 Registration Document
Reconciliation fromoperatingmargin to net income
9.11.1.1
(in € million)
12 months ended
December 31, 2016 % Margin
12 months ended
December 31, 2015
1
% Margin
Operating margin
196.6 15.0%
177.9 14.5%
Other operating income/(expenses)
13.3
-29.8
Operating income
210.0 16.0%
148.1 12.1%
Net financial income/(expenses)
-5.9
-5.9
Tax charge
-53.7
-38.8
Non-controlling interests and associates
-6.2
-
Net income – Attributable to owners of the parent
144.2 11.0%
103.4 8.4%
Normalized net income – Attributable to owners
of the parent
2
129.2 9.9%
119.9 9.8%
December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”.
1
Defined hereafter.
2
Operatingmargin before depreciation and amortization
9.11.1.2
Operating margin before depreciation and amortization (OMDA) represents the underlying operational performance of the current
business and is analysed in the operational review.
(in € million)
December 31, 2016
12 months ended
December 31, 2015*
12 months ended
Variation
Operating margin
196.6
177.9 18.7
+ Depreciation of fixed assets
54.6
50.8
3.8
+ Net book value of assets sold/written off
7.3
0.7
6.6
+/- Net charge/(release) of pension provisions
3.0
5.2
-2.2
+/- Net charge/(release) of provisions
-2.8
0.6
-3.4
OMDA
258.7
235.3 23.4
December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”.
*
Change in free cash flowand operatingmarginnew
definition
performance, in line with sector practice.
compensation effects from the calculation of financial
The Group decided to change the “free cash flow” and
“operating margin” definitions by excluding equity based
and presented in “other operating income and expenses”. This
compensation plans is excluded from the “operating margin”
period presented and as a consequence of this reclassification,
change of presentation has been applied retroactively to the
based compensation and the amortization cost of equity based
As such, Group free cash flow excludes proceed from equity
in 2015 “operating margin” has been increased by €
3.0 million.
Other operating income and expenses
9.11.1.3
€
13.3 million in 2016. The following table presents this amount by nature:
Other operating income and expenses relate to income and expenses that are unusual and infrequent. They represent a net income of
(in € million)
December 31, 2016
12 months ended
December 31, 2015*
12 months ended
Staff reorganization
-4.5
-6.6
Rationalization and associated costs
-4.5
-6.2
Integration and acquisition costs
-9.9
-7.2
Customer relationships and patents amortization
-6.1
-3.5
Other items
38.4
-6.3
Total
13.3
-29.8
December 31, 2015 adjusted to reflect change in presentation disclosed in Note “Accounting Rules and policies”.
*