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MANAGEMENT REPORT
3
GROUP RESULTS
3.2
GROUP RESULTS
The presentation of the Group’s revenue and results was modified as
follows for the year 2015, and the 2014 data was adjusted to allow
comparability:
●
Presentation of revenue and results in three Cash Generating Units
(CGU) as defined by the IFRS:
●
Global Product Solutions (outsourced R&D activities);
●
Energy & Infrastructure (complex infrastructure engineering activities);
●
Staffing (activities making available consultants specialised in Oil
& Gas and Industry around the world).
The management expenses that can be directly attached to these three
CGUs are allocated to them.
The revenue and the operating profit from certain activities not included
in these CGUs, as well as the Group’s central costs, are now classified
under the heading “Holding company and Miscellaneous”.
●
Change in the aggregate Earnings Before Interest and Taxes (EBIT).
It now includes the Share of profit (loss) from partner companies
(Engage, N3A et Alphatest).
3.2.1
KEY FIGURES
In millions of euros
2015
2014
Main income statement items
Revenue
907.7
866.6
Earnings Before Interest and Taxes (EBIT)
(1)
57.8
52.1
As a % of revenue
6.4%
6.0%
Operating results
39.5
36.2
Consolidated profit for the period
(2)
27.9
21.9
Profit for the period attributable to owners of the parent
27.2
21.8
Main cash flow items
Free cash flow
(3)
44.8
31.7
As a % of revenue
4.9%
3.7%
Main balance sheet items
Net cash position
(4)
198.8
221.9
Data per share
(€)
Undiluted net profit per share
0.93
0.89
Diluted net profit per share
(5)
0.93
0.89
Dividend
(6)
(in euros)
0.80
0.75
(1) Earnings Before Interest and Taxes (EBIT) including the share of profit (loss) of the associated businesses (€0.3 million in 2014 and €0.5 million in 2015).
(2) Of which the share attributable to the non-controlling interests: €0.1 million in 2014 and €0.7 million in 2015, i.e. profit attributable to owners of the parent of €21.8 million in 2014 and
€27.2 million in 2015.
(3) Net cash generated from operating activities diminished by operating investments, net of disposals.
(4) Cash and cash equivalents net of financial debts and adjusted for the fair value of hedging derivatives.
(5) In 2015 and 2014, the diluted earnings per share as calculated are not representative. They would be greater than the basic earnings per share. In compliance with IAS 33, diluted
earnings per share are considered as equal to basic earnings per share, i.e. €0.93. and €0.89 respectively.
(6) For the year 2015, as it will be proposed to the General Shareholders’ Meeting which will take place on 24 May 2016.
38
ASSYSTEM
FINANCIAL REPORT
2015