{"id":460923,"date":"2021-03-18T12:49:29","date_gmt":"2021-03-18T16:49:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=460923"},"modified":"2021-03-18T12:49:29","modified_gmt":"2021-03-18T16:49:29","slug":"cegedim-fy-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/","title":{"rendered":"Cegedim: FY 2020 Results"},"content":{"rendered":"<div class=\"mw_release\">\n<table style=\"border-collapse: collapse;margin-left:0;width:496.2pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:661.6px;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:661.6px;border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/p>\n<p>PRESS RELEASE <\/td>\n<\/tr>\n<\/table>\n<p>Quarterly financial information as of December 31, 2020<br \/> IFRS &#8211; Regulated information &#8211; Audited<\/p>\n<p>\n        <strong>FY 2020 results: Cegedim\u2019s business model admirably resilient<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>2020 revenue virtually stable like for like<\/li>\n<li>Recurring operating income<sup>1<\/sup> up 12% to \u20ac41 million<\/li>\n<\/ul>\n<p>\n        <strong>Boulogne-Billancourt, France, March 18, 2021, after the market close<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Cegedim<\/strong><br \/>\n        <strong> generated consolidated FY 2020 revenues of \u20ac496.9 million, a decrease of 1.4% as reported and 0.2% like for like compared with the previous year. Recurring operating income rose 11.8% as reported to \u20ac41.5 million.<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>\u201cAmid tough conditions, the Group showed its resilience, with 2020 revenues virtually stable like for like and recurring operating income up 12%. After the first lockdown, revenues returned to like-for-like growth of 1.9% in the third quarter, and the recovery picked up speed in the fourth quarter with growth of 2.3%<\/em><br \/>\n        <sup>2<\/sup><br \/>\n        <em>. The reason for the resilience is our unique position within the healthcare ecosystem, our recurring businesses and sustained investment in innovation. We are confident we can top our 2020 performance,\u201d<\/em> said Laurent Labrune, Cegedim Group Deputy Managing Director.<\/p>\n<p>\n        <strong><br \/>\n          <u>Consolidated income statement <\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-left: solid black 1pt\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"width:151.2px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"width:151.2px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt\">\n            <strong>Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <strong>\u20acm<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <strong>\u20acm<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt;vertical-align: top\">\u00a0%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>496.9<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">100.0%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>503.7<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">100.0%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">\n            <strong>(1.4)%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">EBITDA<sup>(1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>103.9<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">20.9%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>101.2<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">20.1%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+2.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Depreciation &amp; amortization<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(62.5)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">12.6%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(64.2)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">12.7%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(2.6)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">\n            <strong>Recurring operating income<sup>(1)<\/sup><\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>41.5<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">8.3%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>37.1<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">7.4%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">\n            <strong>+11.8%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Other non-recurring operating income and expenses<sup> (1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(19.9)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">4.0%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(21.0)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">4.2%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(5.2)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">\n            <strong>Operating income<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>21.5<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">4.3%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>16.1<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">3.2%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">\n            <strong>+33.9%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Cost of net financial debt<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(8.6)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">1.7%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(8.6)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">1.7%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+0.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Tax<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(2.0)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">0.4%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>(4.8)<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">1.0%<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(59.2)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">\n            <strong>Net profit attributable to the owners of the parent<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>10.8<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>2.2%<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>2.7<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">\n            <strong>0.5%<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">\n            <strong>+301.7%<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Recurring earnings per share<sup>(1)<\/sup> in euros<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>1.4<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">&#8211;<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>0.4<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">&#8211;<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+245.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:313.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;border-left: solid black 1pt\">Earnings per share in euros<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <strong>0.8<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">&#8211;<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <strong>0.2<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">&#8211;<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">+302.6%<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The Audit Committee met on March 17, 2021, and the Board of Directors\u2014chaired by Jean-Claude Labrune\u2014met on March 18, 2021, to approve the 2020 financial statements. All of the consolidated financial statement audit procedures have been performed. The certification report will be issued once the procedures required for filing the Universal Registration Document have been completed. The Universal Registration Document will be available soon in French and in English on our website and on the Cegedim IR mobile app.<\/p>\n<p>\n        \n      <\/p>\n<p align=\"justify\">\n        <strong>Consolidated revenues <\/strong>fell \u20ac6.8 million, or 1.4%, to \u20ac496.9 million in 2020, compared with \u20ac503.7 million in 2019. Excluding an unfavorable currency translation impact of 0.2pp and an unfavorable scope effect of 1.0pp, revenues were virtually stable, down 0.2%.<\/p>\n<p align=\"justify\">The \u20ac5.2 million hit from scope effects, or 1.0pp, was chiefly due to the sale of nearly all of the business activities of <em>Pulse<\/em><em>Systems Inc.<\/em> in the US in August 2019, which was partly offset by the acquisitions of <em>Cosytec<\/em> in France in July 2019 and <em>NetEDI <\/em>in the UK in August 2019. <\/p>\n<p>\n        <strong><br \/>\n          <u>Bridge from reported to LFL revenues<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:454.65pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:491.34px;border-top: solid black 1pt;vertical-align: bottom\">\n            <em>in millions of euros<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:98.27px;border-top: solid black 1pt\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;border-top: solid black 1pt;vertical-align: top\">\n            <strong>Consolidated Group revenue at December 31, 2019<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-top: solid black 1pt;vertical-align: top\">\n            <strong>503.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Impact of acquisitions and disposals<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(5.2)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Currency impacts<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(0.8)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">\n            <strong>Revenue excl. impacts at December 31, 2019<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>497.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Software &amp; Services contribution<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(2.1)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Flow contribution<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(2.9)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Data &amp; Marketing contribution<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+2.1<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">BPO contribution<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+1.9<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;vertical-align: top\">Corporate and others contribution<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+0.2<\/td>\n<\/tr>\n<tr>\n<td style=\"width:491.34px;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Consolidated Group revenue at December 31, 2020<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>496.9<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>Recurring operating income<\/strong><br \/>\n        <sup><br \/>\n          <strong>(1)<\/strong><br \/>\n        <\/sup> rose \u20ac4.4 million, or 11.8%, to \u20ac41.5 million in 2020, compared with \u20ac37.1 million in 2019. It amounted to 8.3% of revenue in 2020 compared with 7.4% in 2019. This performance was attributable to improved performances at the <em>Software and Services<\/em> and <em>BPO<\/em> divisions, and to reduced spending on travel, receptions, and marketing. <\/p>\n<p align=\"justify\">\n        <strong>Depreciation and amortization expenses <\/strong>fell \u20ac1.7 million, or 2.6%, to \u20ac62.5 million in 2020, compared with \u20ac64.2 million in 2019. The main reason for the decline was the decrease in R&amp;D amortization over the period owing to earlier impairments taken on certain software.<\/p>\n<p align=\"justify\">\n        <strong>EBITDA<\/strong><br \/>\n        <sup><br \/>\n          <strong>(1) <\/strong><br \/>\n        <\/sup>rose \u20ac2.7 million, or 2.6%, to \u20ac103.9 million in 2020, compared with \u20ac101.2 million in 2019. It amounted to 20.9% of revenue in 2020 compared with 20.1% in 2019. <\/p>\n<p align=\"justify\">\n        <strong>Other non-recurring operating income and expenses<\/strong><br \/>\n        <sup><br \/>\n          <strong>(1)<\/strong><br \/>\n        <\/sup> amounted to a \u20ac19.9 million charge, compared with a \u20ac21.0 million charge in 2019. The 2020 level was chiefly the result of impairments of intangible assets related to certain software business, notably on products for doctors in the UK and Belgium.<\/p>\n<p align=\"justify\">\n        <strong>Cost of net financial debt<\/strong> was virtually stable at \u20ac8.6 million. The virtual stability is due to the fact that the Group\u2019s borrowings are almost entire at fixed interest rates.<\/p>\n<p align=\"justify\">\n        <strong>Tax<\/strong> amounted to a charge of \u20ac2.0 million in 2020 compared with a charge of \u20ac4.8 million in 2019, a decrease of \u20ac2.9 million, or 59.2%. This trend is the result of a decrease in income tax combined with a strong increase in deferred tax assets.<\/p>\n<p align=\"justify\">\n        <strong>Consolidated net profit attributable to the owners of the parent <\/strong>came to \u20ac10.8 million in 2020 compared with \u20ac2.7 million in 2019. <strong>Recurring net profit per share<\/strong> came to \u20ac1.4 in 2020 compared with \u20ac0.4 a year earlier. <strong>Earnings per share<\/strong> were \u20ac0.8 in 2020 compared with \u20ac0.4 in 2019.<\/p>\n<p>\n        <strong><br \/>\n          <u>Analysis of business trends by division<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Always looking for ways to improve its financial communication, the Group will now be reporting its results by business activity (divisions: <em>Software &amp; Services<\/em>, <em>Flow<\/em>, <em>Data &amp; Marketing<\/em>, and <em>BPO<\/em>) rather than by client segment (sectors: <em>Health insurance, HR and e-services<\/em>, and <em>Healthcare professionals<\/em>).. To help you analyze these revenue and recurring operating income<sup>(1) <\/sup>figures, we have provided in the annex a breakdown of revenues and recurring operating income<sup>(1) <\/sup>by sector, as well as a grid comparing the sector and division figures.<\/p>\n<p>\n        \n      <\/p>\n<p align=\"justify\">\u00b7<strong>Software &amp; Services<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: justify;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In millions of euros<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"width:148.47px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Revenue<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>277.2<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>286.9<\/em>\n          <\/td>\n<td style=\"width:148.47px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(3.4)% | Like for like: (0.7)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Recurring operating income<sup>(1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>23.5<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>19.4<\/em>\n          <\/td>\n<td style=\"width:148.47px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+21.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>Margin<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>8.5%<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>6.8%<\/em>\n          <\/td>\n<td style=\"width:148.47px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">+171bp<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The <em>Sofware &amp; services<\/em> business, which is highly recurring overall, received a boost from the launch of a teleconsultation solution, Maiia T\u00e9l\u00e9consultation, which experienced strong growth due to the Covid-19 pandemic. As a reminder, the teleconsultation offering was supplied to clients free of charge in the first half of 2020.<\/p>\n<p align=\"justify\">However, the strong showing in software and services for the medical profession and HR management was more than offset by weakness in project activities and change management, notably in the health insurance sector. The start of certain projects was postponed from 2020 to 2021.<\/p>\n<p align=\"justify\">Highly recurring business and the sale of <em>Pulse Systems Inc<\/em> assets enabled a significant increase in recurring operating income<sup>(1)<\/sup>.<\/p>\n<p align=\"justify\">\u00b7<strong>Flow<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In millions of euros<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"width:153.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Revenue<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>79.4<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>80.6<\/em>\n          <\/td>\n<td style=\"width:153.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(1.5)% | Like for like: (3.6)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Recurring operating income<sup>(1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>10.4<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>12.3<\/em>\n          <\/td>\n<td style=\"width:153.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(16.0)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>Margin<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>13.0%<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>15.3%<\/em>\n          <\/td>\n<td style=\"width:153.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">(225)bp<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The <em>Flow<\/em> business was negatively affected by the Covid-19 pandemic, which caused many in France to make fewer doctor visits during lockdowns, thus diminishing health flows. Some of our clients decided to postpone projects from 2020 to 2021. However, the decline was partly offset by a very good performance in the invoice and process digitalization activity. The <em>Flow<\/em> division has substantial fixed costs, which explains the decline in recurring operating income<sup>(1)<\/sup>.<\/p>\n<p align=\"justify\">\u00b7<strong>Data &amp; Marketing<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In millions of euros<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Revenue<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>87.8<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>85.8<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+2.4% | Like for like: +2.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Recurring operating income<sup>(1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>11.4<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>10.7<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+6.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>Margin<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>13.0%<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>12.5%<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">+51bp<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The D<em>ata<\/em> activities experienced strong growth as a result of the pandemic. On the other hand, during the first lockdown of 2020, the pandemic had a detrimental impact on advertising business revenues from pharmacies in France, which were closed for around a month. Even so, the Data &amp; Marketing division\u2019s recurring operating income<sup>(1)<\/sup> rose thanks to the <em>Data<\/em> business.<\/p>\n<p align=\"justify\">\u00b7<strong>BPO<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In millions of euros<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Revenue<\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>48.9<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>47.1<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">+3.9% | Like for like: +3.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-left: solid black 1pt\">Recurring operating income<sup>(1)<\/sup><\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>(0.2)<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>(2.6)<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt\">(91.7)%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:192.74px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>Margin<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>(0.5)%<\/em>\n          <\/td>\n<td style=\"width:75.6px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>(5.6)%<\/em>\n          <\/td>\n<td style=\"width:154.34px;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;text-align: left;padding-left: 10.0px;border-right: solid black 1pt;border-bottom: solid black 1pt\">+58bp<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The <em>BPO<\/em> division benefited from the start of a new contract in the fourth quarter of 2019, which more than offset the decrease in French residents\u2019 use of healthcare during the Covid-19 lockdowns. At the same time, process improvements made it possible for recurring operating income<sup>(1)<\/sup> to reach breakeven.<\/p>\n<p align=\"justify\">\u00b7<strong>Corporate and others<\/strong><\/p>\n<p align=\"justify\">2020 revenues rose 6.3% to \u20ac3.6 million and recurring operating income<sup>(1)<\/sup> was a \u20ac3.6 million loss, compared with a \u20ac2.7 million loss a year earlier.<\/p>\n<p>\n        <strong><br \/>\n          <u>Highlights<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Apart from the items cited below, to the best of the company\u2019s knowledge, there were no events or changes during the period that would materially alter the Group\u2019s financial situation.<\/p>\n<p>\n        \n      <\/p>\n<p align=\"justify\">\u00b7<strong>Tax<\/strong><br \/>On February 21, 2018, Cegedim SA received official notice that the French tax authorities planned to perform an audit of its financial statements for the period from January 1, 2015, to December 31, 2016. After consultation with its lawyers and based on ample precedent, the Group believes that the adjustment is unwarranted and continues to explore its options to appeal the decision. The maximum tax liability Cegedim faces as a result of the current audit is \u20ac13.7 million at December 31, 2020. Cegedim still believes that there is not enough risk with respect to this amount or to tax loss carryforwards recorded on its consolidated balance sheet (corresponding to \u20ac20 million) to jeopardize their valuation.<\/p>\n<p align=\"justify\">\u00b7<strong>Acquisition of a minority stake in Clamae<\/strong><br \/>Cegedim has acquired a minority stake of 34% in the Clamae Group via a \u20ac6 million reserved capital increase. Clamae has a subsidiary that specializes in innovative payment systems made possible under the EU\u2019s PSD2 framework. The technologies Clamae has developed will be put to good use in nearly all of Cegedim Group\u2019s products and services (health insurance products, data management and digitization, and apps for healthcare professionals).<\/p>\n<p>\n        <strong><br \/>\n          <u>Significant transactions and events post December 31, 2020<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">To the best of the company\u2019s knowledge, there were no post-closing events or changes that would materially alter the Group\u2019s financial situation.<\/p>\n<p>\n        <strong><br \/>\n          <u>Outlook <\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">For 2021, the Group expects like-for-like revenue growth of c.2% and recurring operating income<sup>(1)<\/sup> growth of c.4%.<\/p>\n<p align=\"justify\">The Group does not expect to make any significant acquisitions in 2021. And lastly, the group does not provide earnings estimates or forecasts.<\/p>\n<table style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:604.67px;text-align: center;vertical-align: middle;border-top: solid black 1pt;vertical-align: top\">\n            <strong>WEBCAST ON MARCH 18, 2021 AT 6:15 PM (PARIS TIME)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:604.67px;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>The webcast is available at: <\/strong><br \/>\n            <a href=\"http:\/\/www.cegedim.com\/webcast\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.cegedim.com\/webcast<\/a>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:604.67px;text-align: justify;vertical-align: middle;vertical-align: top\">The 2020 results presentation is available at: <\/p>\n<ul type=\"disc\">\n<li>On the website: <u>\u00a0<\/u>https:\/\/www.cegedim.com\/finance\/documentation\/Pages\/presentations.aspx <\/li>\n<li>And on the Cegedim IR smartphone app, available at <a href=\"https:\/\/www.cegedim.fr\/finance\/profil\/Pages\/CegedimIR.aspx\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.cegedim.com\/finance\/profile\/Pages\/cegedimir.aspx<\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u>Financial calendar <\/u><br \/>\n        <\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:458.5pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:84px;text-align: left;vertical-align: middle;vertical-align: top\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"width:225.2px;text-align: left;vertical-align: middle;text-align: left;vertical-align: middle\">\n            <strong>April 27 <\/strong>after the close<\/p>\n<p><strong>June 17<\/strong><\/p>\n<p><strong>July 27 <\/strong>after the close<\/p>\n<p><strong>September 16<\/strong> after the close<\/p>\n<p><strong>September 17<\/strong><\/p>\n<p><strong>October 28 <\/strong>after the close<\/td>\n<td style=\"width:302.14px;text-align: left;vertical-align: middle;text-align: left;vertical-align: middle\">Q1 2021 revenues<\/p>\n<p>Shareholders\u2019 meeting<\/p>\n<p>Q2 2021 revenues<\/p>\n<p>H1 2021 results<\/p>\n<p>SFAF meeting<\/p>\n<p>Q3 2021 revenues<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;margin-left:0;width:496.15pt;border-collapse:collapse\">\n<tr>\n<td colspan=\"4\" style=\"width:661.54px;text-align: justify;vertical-align: middle;text-align: justify;vertical-align: middle\">\n            <strong>Disclaimer<\/strong><br \/>\n            <br \/>\n            <strong>This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information and was sent to Cegedim\u2019s authorized distributor on March 18, 2021, no earlier than 5:45 pm Paris time.<\/strong><br \/>\n            <br \/>\n            <strong>The figures cited in this press release include guidance on Cegedim&#8217;s future financial performance targets. This forward-looking information is based on the opinions and assumptions of the Group\u2019s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim, please refer to Chapter 7, \u201cRisk management\u201d, section 7.2, \u201cRisk factors and insurance\u201d, and Chapter 3, \u201cOverview of the financial year\u201d, section 3.6, \u201cOutlook\u201d, of the 2019 Universal Registration Document filled with the AMF on March 31, 2020 under number D.20-0218. <\/strong><\/p>\n<p>            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"width:661.54px;text-align: justify;vertical-align: middle;vertical-align: top;text-align: justify;vertical-align: middle\">About Cegedim:<br \/>Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 5,300 people in more than 10 countries and generated revenue of nearly \u20ac500 million in 2020. <br \/>Cegedim SA is listed in Paris (EURONEXT: CGM).<br \/>To learn more, please visit: <a href=\"http:\/\/www.cegedim.fr\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.cegedim.fr<\/a><br \/>And follow Cegedim on Twitter <a href=\"https:\/\/twitter.com\/cegedimgroup\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">@CegedimGroup<\/a>, <a href=\"https:\/\/fr.linkedin.com\/company\/cegedim\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a> and <a href=\"https:\/\/www.facebook.com\/CegedimGroup\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/td>\n<\/tr>\n<tr>\n<td style=\"width:160.74px;vertical-align: top\">\n            <strong>Aude Balleydier<\/strong><br \/>\n            <br \/>\n            <strong>Cegedim<\/strong><br \/>\n            <br \/> Media Relations <br \/>and Communications Manager<br \/>Tel.: +33 (0)1 49 09 68 81<br \/>aude.balleydier@cegedim.fr<\/td>\n<td style=\"width:189px;vertical-align: top\">\n            <strong>Jan Eryk Umiatowski<\/strong><br \/>\n            <br \/>\n            <strong>Cegedim<\/strong><br \/>\n            <br \/>Chief Investment and <br \/>Investor Relations Officer<br \/>Tel.: +33 (0)1 49 09 33 36<br \/>janeryk.umiastowski@cegedim.com<\/td>\n<td style=\"width:155.87px;vertical-align: top\">\n            <strong>C\u00e9line Pardo <\/strong><br \/>\n            <br \/>\n            <strong>suPR<\/strong><br \/>\n            <br \/>Media Relations<br \/>Tel.:\u00a0 +33 (0)6 52 08 13 66<br \/>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +33 (0)6 80 80 83 97<br \/>cegedim@becoming-group.com<\/td>\n<td style=\"width:155.94px;vertical-align: top\">\n            <strong>\u00a0<\/strong><\/p>\n<p>\u00a0<\/p>\n<p><\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Annexes<\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <u>Division profiles:<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Software &amp; Services division:<\/strong> comprises all of the Group\u2019s software offerings in all formats (licenses, SaaS, online) as well as hosting (HDS certified for health data) and IT facilities management. Cegedim targets:<\/p>\n<ul type=\"disc\">\n<li>health and personal protection insurance (France and the UK),\u00a0<\/li>\n<li>HR departments (France),<\/li>\n<li>independent pharmacies, as well as chains and consortiums (France, Romania, and the UK),<\/li>\n<li>doctors and health centers (France, the UK, Belgium, Spain, and Italy),<\/li>\n<li>allied health professionals: physical therapists, nurses, speech therapists, orthoptists, podiatrists, midwives, etc. (France).<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Flow division:<\/strong> comprises third-party health payment management (France), contract to pay and management process digitization (orders, invoices, etc.), probative value storage, and EDI (France, the UK, and Germany). This business has service centers in France, Romania, and Morocco.<\/p>\n<p align=\"justify\">\n        <strong>Data &amp; Marketing division:<\/strong> comprises<\/p>\n<ul type=\"disc\">\n<li>data for health authorities, healthcare professionals, researchers, the healthcare industry and its partners in France, Italy, Germany, Spain, Romania, and the UK;<\/li>\n<li>print and digital advertising in pharmacies and health &amp; wellness shops in France;<\/li>\n<li>digital marketing to doctors;<\/li>\n<li>healthcare product distribution.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>BPO division:<\/strong> comprises business process outsourcing activities in France for supplemental health insurers (managing reimbursement, among other things); personal protection insurers, and HR departments. This division has service centers in France and Romania.<\/p>\n<p>\n        <strong><br \/>\n          <u>Revenue trends by sector<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:204.6px;border-top: solid black 1pt;vertical-align: bottom\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td colspan=\"4\" style=\"width:393.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt\">\n            <strong>12 months<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <em>in millions of euros<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>2020<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>2019<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>LFL change<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>Reported chg.<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Health insurance, HR and e-services<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">341.8<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">340.5<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">-0.2%<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+0.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Healthcare professionals<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">151.5<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">159.8<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">-0.1%<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">-5.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Corporate and others<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">3.6<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">3.4<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+6.3%<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">+6.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Cegedim<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>496.9<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>503.7<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>-0.2%<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>-1.4%<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u>Revenue comparison, sector vs. division<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:454.65pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:196.54px;border-top: solid black 1pt;vertical-align: bottom\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"width:393.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <em>in millions of euros<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:147.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">Health insurance, HR and e-services<\/p>\n<\/td>\n<td style=\"width:147.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">Healthcare professionals<\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>Total<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Software &amp; services<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">125.7<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">151.5<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">277.2<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Flow<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">79.4<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">79.4<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Data &amp; Marketing<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">87.8<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">87.8<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">BPO<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">48.9<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">48.9<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Corporate and others<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">3.6<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Cegedim<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>341.8<\/strong>\n          <\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>151.5<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>496.9<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\n        <strong><br \/>\n          <u>Recurring operating income<\/u><br \/>\n        <\/strong><br \/>\n        <sup><br \/>\n          <strong><br \/>\n            <u>(1)<\/u><br \/>\n          <\/strong><br \/>\n        <\/sup><br \/>\n        <strong><br \/>\n          <u> by sector<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"width:204.6px;border-top: solid black 1pt;vertical-align: bottom\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td colspan=\"2\" style=\"width:196.54px;text-align: center;vertical-align: middle;border-top: solid black 1pt\">\n            <strong>12 months<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <em>in millions of euros<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>2020<\/em>\n          <\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>2019<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Health insurance, HR and e-services<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">32.5<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">34.5<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Healthcare professionals<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">12.6<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">5.3<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;vertical-align: top\">Corporate and others<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">-3.6<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">-2.7<\/td>\n<\/tr>\n<tr>\n<td style=\"width:204.6px;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Cegedim<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>41.5<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>37.1<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <u>Recurring operating income<\/u><br \/>\n        <\/strong><br \/>\n        <sup><br \/>\n          <strong><br \/>\n            <u>(1)<\/u><br \/>\n          <\/strong><br \/>\n        <\/sup><br \/>\n        <strong><br \/>\n          <u> comparison, sector vs. division<\/u><br \/>\n        <\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:454.65pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:196.54px;border-top: solid black 1pt;vertical-align: bottom\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"width:393.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt\">\n            <strong>2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <em>in millions of euros<\/em>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <em>\u00a0<\/em>\n          <\/td>\n<td style=\"width:147.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">Health insurance, HR and e-services<\/p>\n<\/td>\n<td style=\"width:147.4px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">Healthcare professionals<\/td>\n<td style=\"width:98.27px;text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <em>Total<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Software &amp; services<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">10.9<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">12.6<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">23.5<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Flow<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">10.4<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">&#8211;<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">10.4<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Data &amp; Marketing<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">11.4<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">&#8211;<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">11,4<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">BPO<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">(0.2)<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">&#8211;<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(0.2)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;vertical-align: top\">Corporate and others<\/td>\n<td style=\"width:16.6px;vertical-align: top\">\u00a0<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">&#8211;<\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;vertical-align: top\">&#8211;<\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;vertical-align: top\">(3.6)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:196.54px;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>Cegedim<\/strong>\n          <\/td>\n<td style=\"width:16.6px;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>32.5<\/strong>\n          <\/td>\n<td style=\"width:147.4px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>12.6<\/strong>\n          <\/td>\n<td style=\"width:98.27px;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: top\">\n            <strong>41.5<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>\n        <strong><br \/>\n          <u>Consolidated financial statements at December 31, 2020<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\u00b7<strong>Assets at December 31, 2020<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:3.5pt;width:6.4in;border-collapse:collapse\">\n<tr>\n<td style=\"width:415.47px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In \u20ac thousands<\/em>\n          <\/td>\n<td style=\"width:97.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong><br \/>\n              <em>12\/31\/2020<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <em>12\/31\/2019<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Goodwill<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>186,036<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>192,740<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Development costs<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">3,873<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">21,960<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other intangible fixed assets<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">159,144<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">135,579<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Intangible fixed assets<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>163,017<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>157,540<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Property<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">544<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">544<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Buildings<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,319<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,960<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other tangible fixed assets<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">31,835<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">30,960<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Right-of-use assets<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">0<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">64,537<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Fixed assets in progress &amp; Advances and deposits on tangible fixed assets<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">75,606<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">163<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Tangible fixed assets<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>110,305<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>99,164<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Equity investments<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,182<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,214<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Loans<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">14,618<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">14,017<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other long-term investments<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">4,730<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">4,546<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Long-term investments \u2013 excluding equity shares in equity method companies<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>20,530<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>19,777<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Equity shares in equity method companies <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">21,479<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">15,080<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Deferred tax asset<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">33,202<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">31,750<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Accounts receivable: long-term portion <\/td>\n<td style=\"width:97.07px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Long-term financial instruments<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">44<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">387<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Prepaid expenses: long-term portion<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">249<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">390<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Non-current assets<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>534,862<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>516,828<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Services in progress<\/td>\n<td style=\"width:97.07px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Goods <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">3,814<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">4,434<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Advances and deposits received on orders<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">501<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">208<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Accounts receivables: short-term portion <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">134,650<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">143,986<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other receivables: short-term portion<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">193,690<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">101,684<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Short-term financial instruments<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Cash equivalents<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">0<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Cash<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">24,734<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">29,059<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Prepaid expenses: short-term portion<\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,103<\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">12,414<\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Current assets<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>370,493<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>291,785<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:415.47px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Total Assets<\/strong>\n          <\/td>\n<td style=\"width:97.07px;text-align: right;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>905,355<\/strong>\n          <\/td>\n<td style=\"width:101.87px;text-align: right;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>808,613<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p \/>\n<p align=\"justify\">\u00b7<strong>Liabilities and equity at December 31, 2020<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:3.5pt;width:6.4in;border-collapse:collapse\">\n<tr>\n<td style=\"width:413.47px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In \u20ac thousands<\/em>\n          <\/td>\n<td style=\"width:96.67px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong><br \/>\n              <em>12\/31\/2020<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <em>12\/31\/2019<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Share capital<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,337<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,337<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Group reserves<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">188,524<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">186,526<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Group exchange gains\/losses<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(5,040)<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(1,480)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Group earnings<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">10,835<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,697<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Shareholders\u2019 equity, Group share<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>207,655<\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>201,080<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Non-controlling interests<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">248<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">167<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>207,902<\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>201,247<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Long-term financial liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">186,278<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">195,694<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Non-current lease liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">62,331<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">52,413<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Long-term financial instruments<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">65<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">627<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Deferred tax liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">7,599<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">8,009<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Retirement commitments<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">35,281<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">32,250<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Non-current provisions<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,575<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,855<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other non-current liabilities<\/td>\n<td style=\"width:96.67px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Non-current liabilities<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>294,130<\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>290,847<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Short-term financial liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,606<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,961<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Current lease liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">15,244<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,507<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Short-term financial instruments<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Accounts payable and related accounts<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">43,214<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">50,644<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Tax and social liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">108,718<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">91,593<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Provisions<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">3,045<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">5,513<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">Other current liabilities<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">230,495<\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">141,299<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Current liabilities<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>403,323<\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>316,519<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.47px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Total Liabilities<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>905,355<\/strong>\n          <\/td>\n<td style=\"width:104.27px;text-align: right;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong>808,613<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p \/>\n<p align=\"justify\">\u00b7<strong>Income statement at December 31, 2020<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:3.5pt;width:6.4in;border-collapse:collapse\">\n<tr>\n<td style=\"width:413.4px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In millions of euros<\/em>\n          <\/td>\n<td style=\"width:96.67px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong><br \/>\n              <em>12\/31\/2020<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <em>12\/31\/2019<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Revenue<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>496,939<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>503,745<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Purchases used<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(25,491)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(28,406)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">External expenses<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(100,491)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(115,344)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Taxes<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(7,904)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(7,319)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Payroll costs<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(256,219)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(249,736)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Impairment on account receivables and other receivables and on contract assets<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(1,871)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(800)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Allocations to and reversals of provisions <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(3,442)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(2,674)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Change in inventories of products in progress and finished products <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">0<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(79)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Other operating income and expenses <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(66)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(576)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Income of equity-accounted affiliates<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,459<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,437<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>EBITDA<sup>(1)<\/sup><\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>103,915<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>101,248<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Depreciation expenses other than right-of-use assets<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(46,518)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(48,399)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Depreciation expenses of right-of-use assets<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(15,939)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(15,753)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Recurring operating income<sup>(1)<\/sup><\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>41,457<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>37,096<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Depreciation of goodwill<\/td>\n<td style=\"width:96.67px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(2,800)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Non-recurring income and expenses<sup>(1)<\/sup><\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(19,915)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(18,204)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Other non-recurring operating income and expenses<sup>(1) <\/sup><\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(19,915)<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(21,004)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Operating income<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>21,543<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>16,092<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Income from cash and cash equivalents<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">75<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">93<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Gross cost of financial debt <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(8,547)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(8,805)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Other financial income and expenses<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(171)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">140<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Cost of net financial debt<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(8,642)<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(8,572)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Income taxes<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(4,973)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(5,824)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Deferred taxes<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">3,007<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,003<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Total taxes<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(1,966)<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(4,821)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Share of profit (loss) for the period of equity method companies <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(18)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(8)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Consolidated profit (loss) for the period<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>10,916<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>2,691<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Consolidated net income (loss) attributable to owners of the parent<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>10,835<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>2,697<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Income from equity-accounted affiliates<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(81)<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(6)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">Average number of shares excluding treasury stock<\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,824,493<\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">13,856,173<\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Recurring earnings per share (in euros) <\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>1.4<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>0.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:413.4px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Earnings per share (in euros)<\/strong>\n          <\/td>\n<td style=\"width:96.67px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>0.8<\/strong>\n          <\/td>\n<td style=\"width:104.34px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>0.2<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <em>(1) See Annex 3: Alternative performance indicators<\/em>\n      <\/p>\n<p \/>\n<p align=\"justify\">\u00b7<strong>Cash flow statement at December 31, 2020<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:3.5pt;border-collapse:collapse\">\n<tr>\n<td style=\"width:467.2px;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">\n            <em>In \u20ac thousands<\/em>\n          <\/td>\n<td style=\"width:74.14px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <strong><br \/>\n              <em>12\/31\/2020<\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: center;vertical-align: middle;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt\">\n            <em>12\/31\/2019<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Consolidated profit (loss) for the period<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>10,916<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>2,691<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Share of earnings from equity method companies<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(2,441)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(2,429)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Amortization and provision charges <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">77,481<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">53,681<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Capital gains or losses on disposals<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,641<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">28,570<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Cash flow after cost of net financial debt and taxes<\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>87,597<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>82,513<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Cost of net financial debt<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">8,642<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">8,572<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Tax expenses<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,966<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">4,821<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Operating cash flow before cost of net financial debt and taxes<\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>98,205<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>95,906<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Tax paid<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(6,337)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(2,190)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Change in working capital requirements for operations: requirement<sup>(1)<\/sup>\u00a0 <\/td>\n<td style=\"width:74.14px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(64,455)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Change in working capital requirements for operations: surplus<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">18,513<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Cash flow generated from operating activities after tax paid and change in working capital requirements (a)<\/p>\n<p><\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>110,381<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>29,260<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Acquisitions of intangible assets<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(54,607)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(50,665)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Acquisitions of tangible assets<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(19,920)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(11,704)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Acquisitions of long-term investments <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(980)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Disposals of tangible and intangible assets<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">11,024<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">8,321<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Disposals of long-term investments <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">40<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">261<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Change in loans made and cash advances<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(753)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">894<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Impact of changes in consolidation scope<sup>(1)<\/sup><\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(6,094)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(25,378)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Dividends received <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">2,032<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,883<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Net cash flows generated by investment operations (b)<\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(69,259)<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(76,389)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Dividends paid to shareholders of the parent company <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(1)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(1)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Loans issued <\/td>\n<td style=\"width:74.14px;border-right: solid black 1pt\">\u00a0<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">20,000<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Loans repaid<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(21,151)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(913)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Repayment of lease liabilities<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(16,119)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(16,307)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Interest paid on loans<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(5,280)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(5,237)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Other financial income received<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">1,030<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">897<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Other financial expenses paid<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(3,674)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(3,593)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Net cash flows generated by financing operations (c) <\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(45,195)<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(5,154)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Change in cash before impact of change in foreign currency exchange rates (a+b+c)<\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(4,072)<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(52,282)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Impact of changes in foreign currency exchange rates<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">(252)<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">253<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">\n            <strong>Change in cash<\/strong>\n          <\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(4,325)<\/strong>\n          <\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">\n            <strong>(52,029)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-left: solid black 1pt\">Opening cash<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">29,059<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt\">81,088<\/td>\n<\/tr>\n<tr>\n<td style=\"width:467.2px;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt\">Closing cash<\/td>\n<td style=\"width:74.14px;text-align: right;vertical-align: middle;border-right: solid black 1pt;border-bottom: solid black 1pt\">24,734<\/td>\n<td style=\"width:73.07px;text-align: right;vertical-align: middle;border-right: solid black 1pt;border-bottom: solid black 1pt\">29,059<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<hr \/>\n<p>\n      <\/p>\n<p>\n        <sup>1<\/sup> Alternative performance indicator. See pages 113-114 of the 2019 Universal Registration Document.<\/p>\n<\/p>\n<p>\n        <sup>2<\/sup> Like for like.<\/p>\n<\/p>\n<p \/>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachment<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml-eu.globenewswire.com\/Resource\/Download\/bc5ea005-4bf1-4dc3-b705-5a516c638a4a\" rel=\"noopener noreferrer\">Cegedim_Results_FY2020_ENG<\/a>\n        <\/li>\n<\/ul>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml-eu.globenewswire.com\/release\/track\/a907fb8d-0451-4836-b3f1-29d5728a474b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 \u00a0 PRESS RELEASE Quarterly financial information as of December 31, 2020 IFRS &#8211; Regulated information &#8211; Audited FY 2020 results: Cegedim\u2019s business model admirably resilient 2020 revenue virtually stable like for like Recurring operating income1 up 12% to \u20ac41 million Boulogne-Billancourt, France, March 18, 2021, after the market close Cegedim generated consolidated FY 2020 revenues of \u20ac496.9 million, a decrease of 1.4% as reported and 0.2% like for like compared with the previous year. Recurring operating income rose 11.8% as reported to \u20ac41.5 million. \u201cAmid tough conditions, the Group showed its resilience, with 2020 revenues virtually stable like for like and recurring operating income up 12%. After the first lockdown, revenues returned to like-for-like growth of 1.9% in the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cegedim: FY 2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-460923","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cegedim: FY 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cegedim: FY 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"\u00a0 \u00a0 PRESS RELEASE Quarterly financial information as of December 31, 2020 IFRS &#8211; Regulated information &#8211; Audited FY 2020 results: Cegedim\u2019s business model admirably resilient 2020 revenue virtually stable like for like Recurring operating income1 up 12% to \u20ac41 million Boulogne-Billancourt, France, March 18, 2021, after the market close Cegedim generated consolidated FY 2020 revenues of \u20ac496.9 million, a decrease of 1.4% as reported and 0.2% like for like compared with the previous year. Recurring operating income rose 11.8% as reported to \u20ac41.5 million. \u201cAmid tough conditions, the Group showed its resilience, with 2020 revenues virtually stable like for like and recurring operating income up 12%. After the first lockdown, revenues returned to like-for-like growth of 1.9% in the &hellip; Continue reading &quot;Cegedim: FY 2020 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-18T16:49:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cegedim: FY 2020 Results\",\"datePublished\":\"2021-03-18T16:49:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/\"},\"wordCount\":2645,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/\",\"name\":\"Cegedim: FY 2020 Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\",\"datePublished\":\"2021-03-18T16:49:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cegedim-fy-2020-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cegedim: FY 2020 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cegedim: FY 2020 Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/","og_locale":"en_US","og_type":"article","og_title":"Cegedim: FY 2020 Results - Market Newsdesk","og_description":"\u00a0 \u00a0 PRESS RELEASE Quarterly financial information as of December 31, 2020 IFRS &#8211; Regulated information &#8211; Audited FY 2020 results: Cegedim\u2019s business model admirably resilient 2020 revenue virtually stable like for like Recurring operating income1 up 12% to \u20ac41 million Boulogne-Billancourt, France, March 18, 2021, after the market close Cegedim generated consolidated FY 2020 revenues of \u20ac496.9 million, a decrease of 1.4% as reported and 0.2% like for like compared with the previous year. Recurring operating income rose 11.8% as reported to \u20ac41.5 million. \u201cAmid tough conditions, the Group showed its resilience, with 2020 revenues virtually stable like for like and recurring operating income up 12%. After the first lockdown, revenues returned to like-for-like growth of 1.9% in the &hellip; Continue reading \"Cegedim: FY 2020 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-18T16:49:29+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Cegedim: FY 2020 Results","datePublished":"2021-03-18T16:49:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/"},"wordCount":2645,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/","name":"Cegedim: FY 2020 Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==","datePublished":"2021-03-18T16:49:29+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA==","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDQ2MzI0OSM0MDA4ODcwODkjMTAxMTMzNA=="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cegedim-fy-2020-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Cegedim: FY 2020 Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/460923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=460923"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/460923\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=460923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=460923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=460923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}