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9
Operation and financial review
Non-IFRS financial measures
105
Worldline
2016 Registration Document
Non-IFRS financial measures
9.12
OMDA
9.12.1
definitions given to the same term by other companies. OMDA
should not be used in lieu of IFRS measures.
non-IFRS measure and has no standard definition. As a result,
the definition used by the Group may not correspond to the
detailed in the table below. The following table provides a
reconciliation of OMDA to operating margin. OMDA is a
margin the impact of depreciation and certain other expenses
In addition to IFRS measures, the Group uses an additional
performance measure, operating margin before depreciation
and amortization (OMDA), which excludes from operating
The following table provides a reconciliation of OMDA to Operating Margin, on a consolidated basis.
(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”.
*
Depreciation costs remained relatively stable between 2015 and 2016 at approximately 4.1% and 4.2% of revenue respectively.
Free Cash Flow
9.12.2
In addition to cash flow calculated in accordance with IFRS, the Group presents the non-IFRS indicators “Operating Cash Flow” and
“Free Cash Flow”. These indicators are calculated based on OMDA, which is calculated as described above.
Cash Flow, for the periods indicated.
The following table sets forth a reconciliation of OMDA to Cash Flow from Operation, and then from Cash Flow from Operation to Free
(in € million)
12 months ended
December 31, 2016
12 months ended
December 31, 2015
Operating Margin before Depreciation and Amortization (OMDA)
258.7
235.3
Capital expenditures
-85.3
-67.0
Change in working capital requirement
37.3
11.9
Cash from operation (CFO)
210.7
180.2
Taxes paid
-39.1
-29.9
Net cost of financial debt paid
-0.6
-1.4
Reorganization in other operating income
-5.2
-6.5
Rationalization & associated costs in other operating income
-4.1
-6.2
Integration and acquisition costs
-9.9
-1.1
Net financial investments
1
-1.3
-1.8
Other changes
2
-10.1
-4.8
Free Cash Flow
140.4
128.5
Net Long term financial investments.
1
and acquisition costs), dividends paid to non-controlling interests and other financial items with cash impact.
“Other changes” include other operating income with cash impact (excluding reorganization, rationalization and associated costs, integration costs
2